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EARNINGS (LOSS) PER SHARE CALCULATION | 9 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER SHARE CALCULATION | EARNINGS (LOSS) PER SHARE CALCULATION Basic earnings (loss) per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share, applicable only to periods ended with reported income, is computed by dividing net income by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The calculation of basic and diluted earnings (loss) per share is presented below:
|  | Three months ended March 31,
($ in thousands, except per share data) |  | 2022 |  | 2021
Numerator for basic and diluted loss per share |  |  |  |
Net earnings (loss) |  | $ | 2,136 |  |  | $ | (1,848) |
Preferred dividends |  | (334) |  |  | (334) |
Net earnings (loss) applicable to common shareholders |  | 1,802 |  |  | (2,182) |
Denominator for basic loss per share - Weighted average shares outstanding |  | 71,083,044 |  |  | 67,112,511 |
Effect of dilutive potential common shares |  | 403,674 |  |  | — |
Denominator for diluted loss per share - Adjusted weighted average shares outstanding |  | 71,486,718 |  |  | 67,112,511 |
Basic and diluted earnings (loss) per share |  | $ | 0.03 |  |  | $ | (0.03) |
|  | Nine months ended March 31,
($ in thousands, except per share data) |  | 2022 |  | 2021
Numerator for basic and diluted loss per share |  |  |  |
Net loss |  | $ | 377 |  |  | $ | (11,363) |
Preferred dividends |  | (668) |  |  | (668) |
Net loss applicable to common shareholders |  | (291) |  |  | (12,031) |
Denominator for basic loss per share - Weighted average shares outstanding |  | 71,076,022 |  |  | 65,617,458 |
Effect of dilutive potential common shares |  | — |  |  | — |
Denominator for diluted loss per share - Adjusted weighted average shares outstanding |  | 71,076,022 |  |  | 65,617,458 |
Basic and diluted loss per share |  | $0.00 |  | $ | (0.18) |
Potentially anti-dilutive shares excluded from the calculation of diluted loss per share were approximately 5 million for the three and nine months ended March 31, 2022 and approximately 4 million for the three and nine months ended March 31, 2021.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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