Net Earnings (Loss) Per Share

Basic net earnings (loss) per share of Class A Common Stock is computed by dividing net earnings (loss) attributable to the Company's earnings (loss) by the weighted average number of shares of Class A Common Stock outstanding during the period. The weighted average number of shares of Class A Common Stock outstanding used in computing basic net earnings (loss) per share includes fully vested restricted stock units awarded to directors that are entitled to participate in distributions to common stockholders through receipt of additional units of equivalent value to the dividends paid to Class A Common stockholders.

Diluted net earnings (loss) per share of Class A Common Stock is computed similarly to basic net earnings (loss) per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents using the treasury method, if dilutive. The Company’s LLC Units are considered common stock equivalents for this purpose. The number of additional shares of Class A Common Stock related to these common stock equivalents is calculated using the treasury stock method. The portion of consideration paid in Class A Common Stock related to the acquisition of Malibu Boats Pty. Ltd. that is subject to a time-based restriction is also included in the denominator.

All earnings (loss) prior to and up to February 5, 2014, the date of completion of the IPO, were entirely allocable to non-controlling interest and, as a result, earnings (loss) per share information is not applicable for reporting periods prior to this date. Consequently, only the net loss attributable to Malibu Boats, Inc. from the period subsequent to February 5, 2014 is included in the net loss attributable to stockholders of Class A Common Stock. Basic and diluted net earnings (loss) per share of Class A Common Stock for the three and nine months ended March 31, 2015 and from February 5, 2014 to March 31, 2014 have been computed as follows (in thousands, except share and per share amounts):



	Three Months Ended March 31, 2015		Nine Months Ended March 31, 2015		For Period From February 5, 2014 to March 31, 2014
Basic:
Net income (loss) attributable to Malibu Boats, Inc.	$	4,365	$	9,008	$	(370	)
Shares used in computing basic net income (loss) per share:
Weighted-average Class A Common Stock	15,486,591		15,465,422		11,054,830
Weighted-average participating restricted stock units convertible into Class A Common Stock	63,265		62,410		—
Basic weighted-average shares outstanding	15,549,856		15,527,832		11,054,830
Basic net income (loss) per share	$	0.28	$	0.58	$	(0.03	)

Diluted:
Net income (loss) attributable to Malibu Boats, Inc.	$	4,365	$	9,008	$	(370	)
Net income (loss) attributable to the non-controlling interest	—		—		(415		)
Net income (loss)	4,365		9,008		(785		)
Shares used in computing diluted net income (loss) per share:
Basic weighted-average shares outstanding	15,549,856		15,527,832		11,054,830
Weighted-average vested and non-vested non-controlling interest units convertible into Class A Common Stock	—		—		10,973,646
Weighted-average restricted shares issued for acquisition	122,066		71,205		—
Restricted stock units granted to employees	4,321		1,278		—
Diluted weighted-average shares outstanding ¹	15,676,243		15,600,315		22,028,476
Diluted net income (loss) per share	$	0.28	$	0.58	$	(0.04	)

¹The Company excluded 7,001,844 potentially dilutive shares from the calculation of diluted net income (loss) per share for the three and nine months ended March 31, 2015, as these shares would have been antidilutive. No shares were deemed antidilutive for the period from the date of the Company's IPO on February 5, 2014 through March 31, 2014.

The shares of Class B Common Stock do not share in the earnings or losses of Malibu Boats, Inc. and are therefore not included in the calculation. Accordingly, basic and diluted net earnings (loss) per share of Class B Common Stock has not been presented.