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Earnings Per Share | 12 Months Ended
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Jun. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table sets forth the computation of earnings (loss) per share for the periods indicated. Basic earnings (loss) per share has been computed using the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) 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.
Year Ended June 30, |  | 2020 |  | 2019 |  | 2018
($000 except per share) |  |  |  |  |  |
Net earnings (loss) |  | $ | (67,029) |  |  | $ | 107,517 |  |  | $ | 88,002 |
Divided by: |  |  |  |  |  |
Weighted average shares |  | 84,828 |  |  | 63,584 |  |  | 62,499 |
Basic earnings (loss) per common share |  | $ | (0.79) |  |  | $ | 1.69 |  |  | $ | 1.41 |
Net earnings (loss) |  | $ | (67,029) |  |  | $ | 107,517 |  |  | $ | 88,002 |
Divided by: |  |  |  |  |  |
Weighted average shares |  | 84,828 |  |  | 63,584 |  |  | 62,499 |
Dilutive effect of common stock equivalents |  | — |  |  | 2,220 |  |  | 2,634 |
Diluted weighted average common shares |  | 84,828 |  |  | 65,804 |  |  | 65,133 |
Diluted earnings (loss) per common share |  | $ | (0.79) |  |  | $ | 1.63 |  |  | $ | 1.35 |
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 antidilutive ($000):
Year Ended June 30, |  | 2020 |  | 2019 |  | 2018
Stock options and restricted shares |  | 2,345 |  |  | 115 |  |  | 135 |
0.25% Convertible Senior Notes due 2022 |  | 7,331 |  |  | 7,331 |  |  | 7,331 |
0.50% Finisar Convertible Notes |  | 289 |  |  | — |  |  | — |
Total anti-dilutive shares |  | 9,965 |  |  | 7,446 |  |  | 7,466 |

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