Net (Loss) Income per Share

3 Months Ended

Sep. 30, 2015

10.

Net (Loss) Income per Share

Basic net (loss) income per share is computed by dividing the net (loss) income by the weighted average number of common shares outstanding during the period. For periods in which the Company reports net income, diluted net income per share is determined by adding to the basic weighted average number of common shares outstanding the total number of dilutive common equivalent shares using the treasury stock method, unless the effect is anti-dilutive.

The following table reconciles the number of shares used to compute basic and diluted net (loss) income per share:


	Three Months Ended September 30,
	2015		2014
Number of common shares - basic		29,415,572		29,322,708
Effect of dilutive securities:
Stock options		—		1,164,260
Warrants		—		277,926

Number of common shares - diluted		29,415,572		30,764,894

Potential common stock equivalents excluded from the calculation of diluted earnings per share because the effect would have been anti-dilutive were as follows:


	September 30,
	2015		2014
Options outstanding		4,888,975		1,230,724
Warrants outstanding		1,176,105		552,500

		6,065,080		1,783,224