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Earnings Per Share | 6 Months Ended
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Dec. 31, 2019
Earnings Per Share [Abstract] |
Earnings Per Share |
Note 1 2. | 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 the three and six months ended December 31, 2019 and 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, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Basic Earnings per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings (loss) |  | $ | (98,213 | ) |  | $ | 28,702 |  |  | $ | (124,211 | ) |  | $ | 54,851 |
Divided by: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares |  |  | 90,886 |  |  |  | 63,588 |  |  |  | 78,428 |  |  |  | 63,504 |
Basic earnings (loss) per common share |  | $ | (1.08 | ) |  | $ | 0.45 |  |  | $ | (1.58 | ) |  | $ | 0.86 |
Diluted Earnings per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings (loss) |  | $ | (98,213 | ) |  | $ | 28,702 |  |  | $ | (124,211 | ) |  | $ | 54,851 |
Divided by: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares |  |  | 90,886 |  |  |  | 63,588 |  |  |  | 78,428 |  |  |  | 63,504 |
Dilutive effect of common stock equivalents |  |  | - |  |  |  | 2,085 |  |  |  | - |  |  |  | 2,412 |
Diluted weighted average common shares |  |  | 90,886 |  |  |  | 65,673 |  |  |  | 78,428 |  |  |  | 65,916 |
Diluted earnings (loss) per common share |  | $ | (1.08 | ) |  | $ | 0.44 |  |  | $ | (1.58 | ) |  | $ | 0.83 |
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, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Common stock equivalents |  |  | 3,392 |  |  |  | 138 |  |  |  | 2,714 |  |  |  | 125 |
0.25% Convertible Senior Notes due 2022 |  |  | 7,331 |  |  |  | 7,331 |  |  |  | 7,331 |  |  |  | 7,331 |
0.50% Finisar Convertible Notes |  |  | 391 |  |  |  | - |  |  |  | 502 |  |  |  | - |
Total anti-dilutive shares |  |  | 11,114 |  |  |  | 7,469 |  |  |  | 10,547 |  |  |  | 7,456 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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