Earnings per Share

12 Months Ended

Jun. 30, 2022

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,
	2022		2021		2020
	(in thousands, except per share data)
Numerator:
Net income (loss) from continuing operations	$	88,698	$	45,389	$	(79,227)
Net income (loss) from discontinued operations	100		(34,594)		(113,427)
Net income (loss)	$	88,798	$	10,795	$	(192,654)

Denominator:
Weighted-average shares, basic	25,504		25,423		25,378
Dilutive effect of share-based payments	254		95		—
Weighted-average shares, diluted(1)	25,758		25,518		25,378

Net income (loss) from continuing operations per common share, basic	$	3.48	$	1.79	$	(3.12)
Net loss from discontinued operations per common share, basic	—		(1.36)		(4.47)
Net income (loss) per common share, basic	$	3.48	$	0.42	$	(7.59)

Net income (loss) from continuing operations per common share, diluted	$	3.44	$	1.78	$	(3.12)
Net loss from discontinued operations per common share, diluted	—		(1.36)		(4.47)
Net income (loss) per common share, diluted	$	3.45	$	0.42	$	(7.59)

(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, 2022, 2021 and 2020, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would have been antidilutive were 926,286, 1,297,214 and 1,040,226, respectively.