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Note Q - Earnings Per Share | 12 Months Ended
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Jun. 30, 2021
Notes to Financial Statements |
Earnings Per Share [Text Block] | Q. EARNINGS PER SHARE The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period. The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect. Restricted stock award recipients under the 2010 LTI Plan have a non-forfeitable right to receive dividends declared by the Company, and are therefore included in computing earnings per share pursuant to the two-class method. The components of basic and diluted earnings per share were as follows:
|  | 2021 |  |  | 2020 |
Basic: |  |  |  |  |  |  |  |
Net loss |  | $ | (29,519 | ) |  | $ | (39,571 | )
Less: Net earnings attributable to noncontrolling interest |  |  | (200 | ) |  |  | (246 | )
Less: Undistributed earnings attributable to unvested shares |  |  | - |  |  |  | - |
Net loss available to Twin Disc shareholders |  |  | (29,719 | ) |  |  | (39,817 | )
Weighted average shares outstanding - basic |  |  | 13,247 |  |  |  | 13,153 |
Basic Loss Per Share: |  |  |  |  |  |  |  |
Net loss per share - basic |  | $ | (2.24 | ) |  | $ | (3.03 | )
Diluted: |  |  |  |  |  |  |  |
Net loss |  | $ | (29,519 | ) |  | $ | (39,571 | )
Less: Net earnings attributable to noncontrolling interest |  |  | (200 | ) |  |  | (246 | )
Less: Undistributed earnings attributable to unvested shares |  |  | - |  |  |  | - |
Net loss available to Twin Disc shareholders |  |  | (29,719 | ) |  |  | (39,817 | )
Weighted average shares outstanding - basic |  |  | 13,247 |  |  |  | 13,153 |
Effect of dilutive stock awards |  |  | - |  |  |  | - |
Weighted average shares outstanding - diluted |  |  | 13,247 |  |  |  | 13,153 |
Diluted Loss Per Share: |  |  |  |  |  |  |  |
Net loss per share - diluted |  | $ | (2.24 | ) |  | $ | (3.03 | )
The following potential common shares were excluded from diluted EPS for the year ended June 30, 2021 as the Company reported a net loss: 388,433 related to the Company’s unvested PSAs, 379,095 related to the Company’s unvested RS awards, and 34,822 related to the Company’s unvested RSUs. The following potential common shares were excluded from diluted EPS for the year ended June 30, 2020 as the Company reported a net loss: 167,848 related to the Company’s unvested PSAs, 231,379 related to the Company’s unvested RS awards, and 37,950 related to the Company’s unvested RSUs.

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