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Earnings (Loss) Per Common Share (Tables)
3 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Calculation of Basic and Diluted Weighted-Average Shares Outstanding and Earnings (Loss) per Share (EPS)

The following is the calculation of basic and diluted weighted-average shares outstanding and earnings (loss) per share for the indicated period.

 

 

Three months ended September 30,

 

 

 

2023

 

 

2022

 

 

 

(in thousands, except per share data)

 

Basic earnings (loss) per share:

 

 

 

 

 

 

Net income (loss) - numerator

 

$

(9,370

)

 

$

4,606

 

Weighted-average shares — denominator

 

 

44,221

 

 

 

43,350

 

Basic earnings (loss) per share

 

$

(0.21

)

 

$

0.11

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share:

 

 

 

 

 

 

Net income (loss)

 

$

(9,370

)

 

$

4,606

 

Interest expense on convertible note

 

 

 

(1)

 

819

 

Net income (loss) - numerator

 

$

(9,370

)

 

$

5,425

 

 

 

 

 

 

 

 

Weighted-average shares (denominator):

 

 

44,221

 

 

 

43,350

 

Dilution effect of stock options and unvested restricted stock units
   and performance share units outstanding at end of period

 

 

 

 

 

1,760

 

Additional shares assuming conversion of convertible note

 

 

 

(1)

 

3,409

 

Weighted-average shares — diluted

 

 

44,221

 

 

 

48,519

 

Diluted earnings (loss) per share

 

$

(0.21

)

 

$

0.11

 

 

 

 

 

 

 

 

Stock options and unvested restricted stock units and performance
   share units excluded due to anti-dilutive effect

 

 

4,780

 

 

 

920

 

(1) Interest expense of $2.4 million related to the Convertible Notes for the quarter ended September 30, 2023, and the issuance of 3.6 million additional shares assuming the conversion of the Convertible Note on September 30, 2023 were excluded from the calculation of diluted earnings per share as such effects would be anti-dilutive.