Earnings (Loss) Per Share

3 Months Ended

Sep. 30, 2018

Note 3: Earnings (Loss) Per Share

Basic earnings (loss) per share ("EPS") excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the earnings of the entity.

As of September 30, 2018 and 2017, there were outstanding options to purchase 514,000 shares and 591,250 shares of the Corporation's common stock, respectively. Of those shares, as of September 30, 2018 and 2017, there were 20,000 shares and 591,250 shares, respectively, which were excluded from the diluted EPS computation as their effect was anti-dilutive. As of September 30, 2018, there were outstanding restricted stock awards of 13,500 shares which have a dilutive effect in the first quarter of fiscal 2019; and as of September 30, 2017, there were outstanding restricted stock awards of 109,000 shares with no dilutive effect in the first quarter of fiscal 2018.

The following table provides the basic and diluted EPS computations for the quarters ended September 30, 2018 and 2017, respectively.

(In Thousands, Except Earnings Per Share)	For the Quarters Ended September 30,
	2018		2017
Numerator:
Net income (loss) – numerator for basic earnings per share and diluted earnings per share - available to common stockholders	$	1,823	$	(225	)

Denominator:
Denominator for basic earnings per share:
Weighted-average shares		7,431		7,694

Effect of dilutive shares:
Stock options		91		—
Restricted stock		35		—

Denominator for diluted earnings per share:
Adjusted weighted-average shares and assumed conversions		7,557		7,694

Basic earnings (loss) per share	$	0.25	$	(0.03	)
Diluted earnings (loss) per share	$	0.24	$	(0.03	)