Earnings per Share

12 Months Ended

Jun. 30, 2020

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of common and potential common shares outstanding.


	Fiscal year ended June 30,
	2020		2019		2018
	(in thousands, except per share data)
Numerator:
Net (loss) income from continuing operations	$	(79,227)	$	64,859	$	35,456
Net loss from discontinued operations	(113,427)		(7,262)		(2,303)
Net (loss) income	$	(192,654)	$	57,597	$	33,153

Denominator:
Weighted-average shares, basic	25,378		25,642		25,522
Dilutive effect of share-based payments	—		92		102
Weighted-average shares, diluted⁽¹⁾	25,378		25,734		25,624

Net (loss) income from continuing operations per common share, basic	(3.12)		2.53		1.39
Net loss from discontinued operations per common share, basic	(4.47)		(0.28)		(0.09)
Net (loss) income per common share, basic	$	(7.59)	$	2.25	$	1.30

Net (loss) income from continuing operations per common share, diluted	(3.12)		2.52		1.38
Net loss from discontinued operations per common share, diluted	(4.47)		(0.28)		(0.09)
Net (loss) income per common share, diluted	$	(7.59)	$	2.24	$	1.29

⁽¹⁾The Company calculates weighted average shares of common stock in accordance with ASC 260, Earnings per Share. The Company's diluted weighted average shares for the year ended June 30, 2020 are the same as basic weighted average shares due to net loss from continuing operations.

For the years ended June 30, 2020, 2019 and 2018, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would have been antidilutive were 1,040,226, 582,856 and 551,320, respectively.