Earnings Per Share

6 Months Ended

Dec. 31, 2018

Note 12.

Earnings Per Share

The following table sets forth the computation of earnings per share for the periods indicated. Basic net income per share has been computed using the weighted average number of shares of Common Stock outstanding during the period. Diluted net income per share has been computed using the weighted average number of common shares outstanding during the period plus dilutive potential shares of Common Stock from (1) stock options, performance and restricted shares (under the treasury stock method) and (2) convertible debt (under the If Converted method) outstanding during the period. The Company’s convertible debt calculated under the If-Converted method was anti-dilutive for both the three and six months ended December 31, 2018 and was excluded from the calculation of earnings per share. ($000 except per share data):

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2018		2017		2018		2017

Net earnings	$	28,702	$	9,596	$	54,851	$	30,737
Divided by:
Weighted average shares		63,588		62,302		63,504		62,523

Basic earnings per common share	$	0.45	$	0.15	$	0.86	$	0.49

Net earnings	$	28,702	$	9,596	$	54,851	$	30,737
Divided by:
Weighted average shares		63,588		62,302		63,504		62,523
Dilutive effect of common stock equivalents		2,085		2,736		2,412		2,638
Diluted weighted average common shares		65,673		65,038		65,916		65,161

Diluted earnings per common share	$	0.44	$	0.15	$	0.83	$	0.47

The following table presents potential shares of Common Stock excluded from the calculation of diluted net income per share as their effect would have been anti-dilutive ($000):

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2018		2017		2018		2017

Stock options and restricted shares		138		133		125		110
0.25% Convertible Senior Notes due 2022		7,331		7,331		7,331		7,331
Total anti-dilutive shares		7,469		7,464		7,456		7,441