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Earnings (Loss) per Common Share
3 Months Ended
Sep. 30, 2025
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):

 

Three Months Ended

September 30, 

 

2025

    

2024

Numerator

 

 

Net income (loss)

$

824

$

2,065

Undistributed earnings allocated to unvested restricted stock

(82)

(40)

Net income (loss) for earnings per share calculation

$

742

$

2,025

 

 

Denominator

Weighted average number of common shares outstanding — Basic

33,725

32,722

Effect of dilutive securities:

Unvested restricted stock awards

162

146

Unvested contingent restricted stock units

90

Weighted average number of common shares and dilutive potential common shares used in diluted earnings per share

33,977

32,868

Net income (loss) per common share — Basic

$

0.02

$

0.06

Net income (loss) per common share — Diluted

$

0.02

$

0.06

Unvested restricted stock awards, totaling less than 0.1 million and 0.1 million for the three months ended September 30, 2025 and 2024, respectively, 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.