EARNINGS (LOSS) PER SHARE

3 Months Ended

Sep. 30, 2021

The following table sets forth the computation of basic and diluted net income (loss) per share:


	Three Months Ended September 30,
	2021		2020
Numerator:
Net income (loss) from continuing operations	$	19,411	$	(10,781)
Net income from discontinued operations	—		11,266
Net income	$	19,411	$	485

Denominator:
Basic weighted average shares outstanding	97,121		101,558
Effect of dilutive stock options, unvested restricted stock and unvested restricted share units	317		—
Diluted weighted average shares outstanding	97,438		101,558

Basic net income (loss) per common share:
Continuing operations	$	0.20	$	(0.11)
Discontinued operations	—		0.11
Basic net income per common share	$	0.20	$	—

Diluted net income (loss) per common share:
Continuing operations	$	0.20	$	(0.11)
Discontinued operations	—		0.11
Diluted net income per common share	$	0.20	$	—

Basic net income (loss) per share excludes the dilutive effects of stock options, unvested restricted stock and unvested restricted share units.

Anti-dilutive restricted stock awards and stock options excluded from our calculation of diluted net income (loss) per share for the three months ended September 30, 2021 were de minimis. There were 1,299 stock-based awards excluded for the three months ended September 30, 2021 as such awards were contingently issuable based on market or performance conditions, and such conditions had not been achieved during the period.

Due to our net loss from continuing operations in the three months ended September 30, 2020, all common stock equivalents such as stock options and unvested restricted stock awards have been excluded from the computation of diluted net loss per common share because the effect would have been anti-dilutive to the computations in the period.

Share Repurchase Program

In June 2017 and August 2021, the Company's Board of Directors authorized the repurchase of up to $250,000 and $300,000 of the Company’s issued and outstanding common stock, respectively. Share repurchases under the 2021 authorization commenced in August 2021, after the 2017 authorization was fully utilized. Repurchases may be made from time to time in the open market, pursuant to pre-set trading plans, in private transactions or otherwise. The authorization does not have a stated expiration date. The extent to which the Company repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations. During the three months ended September 30, 2021, the Company repurchased 4,525 shares under the repurchase program for a total of $175,597, excluding commissions, at an average price of $38.80 per share. As of September 30, 2021, the Company had $206,811 of remaining authorization under the share repurchase program. During the three months ended September 30, 2020, the Company repurchased 1,281 shares under the repurchase program for a total of $42,027, excluding commissions, at an average price of $32.81 per share.