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Net (Loss) Income per Common Share (EPS) | 12 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Net (Loss) Income per Common Share (EPS) | Net (Loss) Income per Common Share (EPS) Basic EPS is based on the weighted average number of common shares actually outstanding, including both vested and unvested restricted stock awards, adjusted for ESOP shares not yet committed to be released. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as outstanding stock options or unvested RSUs, were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted EPS is calculated by adjusting the weighted average number of shares of common stock outstanding to include the effect of contracts or securities exercisable or which could be converted into common stock, if dilutive, using the treasury stock method. Shares issued and reacquired during any period are weighted for the portion of the period they were outstanding. The following schedule shows the Company’s earnings per share calculations for the periods presented:
| For the Year Ended June 30,
| 2024 |  | 2023 |  | 2022
| (In Thousands, Except Per Share Data)
Net (loss) income | $ | (86,667) |  |  | $ | 40,811 |  |  | $ | 67,547 |
Weighted average number of common shares outstanding - basic | 62,444 |  |  | 64,804 |  |  | 70,911 |
Effect of dilutive securities | — |  |  | — |  |  | 22 |
Weighted average number of common shares outstanding- diluted | 62,444 |  |  | 64,804 |  |  | 70,933 |
Basic earnings per share | $ | (1.39) |  |  | $ | 0.63 |  |  | $ | 0.95 |
Diluted earnings per share | $ | (1.39) |  |  | $ | 0.63 |  |  | $ | 0.95 |
Stock options for 2,751,902, 2,983,530 and 3,115,000 shares of common stock were not considered in computing diluted earnings per share at June 30, 2024, 2023 and 2022, respectively, because they were considered anti-dilutive. In addition, 689,252 and 497,664 RSUs were not considered in computing diluted earnings per share at June 30, 2024 and 2023, respectively, because they were considered anti-dilutive.

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