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Earnings (Loss) per Common Share

12 Months Ended

Jun. 30, 2023

Earnings (Loss) per Common Share

Earnings (Loss) per Common Share

Note 12. Earnings (Loss) per Common Share

The following table sets forth the computation of basic and diluted earnings (loss) per common share, reflecting the application of the two-class method (in thousands, except per share amounts):

​

​	​	​	​	​	​	​
	​	Years Ended June 30,
	​	2023			2022
Numerator	​	​		​	​
Net income (loss)	​	$	35,217	​	$	32,628
Undistributed earnings allocated to unvested restricted stock	​	​	(560)	​	​	(673)
Net income (loss) for earnings per share calculation	​	$	34,657	​	$	31,955
​	​	​		​	​
Denominator	​	​	​	​	​	​
Weighted average number of common shares outstanding — Basic	​	​	32,985	​	​	32,952
Effect of dilutive securities:	​	​	​	​	​	​
Unvested restricted stock awards	​	​	193	​	​	354
Unvested contingent restricted stock units	​	​	12	​	​	—
Weighted average number of common shares and dilutive potential common shares used in diluted earnings per share	​	​	33,190	​	​	33,306
​	​	​	​	​	​	​
Net income (loss) per common share — Basic	​	$	1.05	​	$	0.97
Net income (loss) per common share — Diluted	​	$	1.04	​	$	0.96

​

Unvested restricted stock awards (both time-vested and performance-based), totaling approximately 90,000 for the year ended June 30, 2023 were not included in the computation of diluted earnings per common share because the effect would have been anti-dilutive.

Unvested restricted stock awards (both time-vested and performance-based), totaling approximately 20,000 for the year ended June 30, 2022, were not included in the computation of diluted earnings per common share because the effect would have been anti-dilutive.

In addition, unvested performance-based restricted stock awards and unvested contingent restricted stock units that would not meet the performance criteria as of the period end are excluded from the computation of diluted earnings per common share.

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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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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