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EARNINGS PER SHARE CALCULATION | 12 Months Ended
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Jun. 30, 2016
Earnings Per Share [Abstract] |
EARNINGS PER SHARE CALCULATION | 4. EARNINGS PER SHARE CALCULATION The calculation of basic earnings per share (“eps”) and diluted earnings per share is presented below:
|  | Year Ended June 30 |
($ in thousands, except per share data) |  | 2016 |  |  | 2015 |  |  | 2014 |
Numerator for basic and diluted earnings per share |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (6,806 | ) |  | $ | (1,089 | ) |  | $ | 27,531 |
Preferred dividends |  |  | (668 | ) |  |  | (668 | ) |  |  | (668 | )
Net income (loss) available to common shareholders |  | $ | (7,474 | ) |  | $ | (1,757 | ) |  | $ | 26,863 |
Denominator for basic earnings per share - Weighted average shares outstanding |  |  | 36,309,047 |  |  |  | 35,719,211 |  |  |  | 34,667,769 |
Effect of dilutive potential common shares |  |  | - |  |  |  | - |  |  |  | 341,790 |
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding |  |  | 36,309,047 |  |  |  | 35,719,211 | # |  |  | 35,009,559 |
Basic earnings (loss) per share |  | $ | (0.21 | ) |  | $ | (0.05 | ) |  | $ | 0.77 |
Diluted earnings (loss) per share |  | $ | (0.21 | ) |  | $ | (0.05 | ) |  | $ | 0.77 |
Antidilutive shares excluded from the calculation of diluted earnings per share were 1,168,689, 252,827 and 98,497 for the years ended June 30, 2016, 2015 and 2014, respectively.

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