Earnings Per Share (Tables)

9 Months Ended

Mar. 31, 2021

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share computations for the periods presented ($000):


	Three Months Ended March 31,				Nine Months Ended March 31,
	2021		2020			2021		2020
Numerator
Net earnings (loss)	$	81,092	$	5,921		$	215,258	$	(118,290)
Deduct Series A preferred stock dividends	(6,900)		—			(20,240)		—
Deduct Series B redeemable preferred stock dividends	(104)		—			(104)		—
Deduct Series B redeemable preferred deemed dividend	(9)		—			(9)		—
Basic earnings (loss) available to common shareholders	$	74,079	$	5,921		$	194,905	$	(118,290)

Effect of dilutive securities:
Add back interest on Convertible Senior Notes Due 2022	$	3,066	$	—		$	9,199	$	—

Diluted earnings (loss) available to common shareholders	$	77,145	$	5,921		$	204,103	$	(118,290)

Denominator
Weighted average shares	104,767		91,081			103,883		82,615
Effect of dilutive securities:
Common stock equivalents	4,203		2,354			3,424		—
0.25% Convertible Senior Notes due 2022	7,331		—			7,331		—

Diluted weighted average common shares	116,302		93,435			114,637		82,615

Basic earnings (loss) per common share	$	0.71	$	0.07		$	1.88	$	(1.43)

Diluted earnings (loss) per common share	$	0.66	$	0.06		$	1.78	$	(1.43)

Schedule of Potential Shares of Common Stock Excluded from the Calculation of Diluted Net Income Per Share

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


	Three Months Ended March 31,		Nine Months Ended March 31,
	2021	2020	2021	2020
Series A Mandatory Convertible Preferred Stock	8,915	—	8,915	—
0.25% Convertible Senior Notes due 2022	—	7,331	—	7,331
Common stock equivalents	14	410	154	2,801
0.50% Finisar Convertible Notes	—	75	—	360
Series B Redeemable Preferred Stock	98	—	33	—
Total anti-dilutive shares	9,027	7,816	9,102	10,492