Earnings per Share

9 Months Ended

Mar. 25, 2016

Basic earnings per share ("EPS") is computed based on the weighted-average number of shares of common stock outstanding during the period. Diluted EPS is computed using the treasury stock method for stock options, warrants, non-vested restricted stock awards and units, and non-vested performance stock units. The treasury stock method assumes conversion of all potentially dilutive shares of common stock with the proceeds from assumed exercises used to hypothetically repurchase stock at the average market price for the period. Diluted EPS is computed by dividing net income applicable to the Company by the weighted-average common shares and potentially dilutive common shares that were outstanding during the period. For the three and nine months ended March 25, 2016, the Company reported a net loss applicable to common shareholders; therefore, the potentially dilutive shares are anti-dilutive and are excluded from the calculation of diluted (loss) earnings per share in accordance with ASC Topic 260, Earnings per Share.

The following table sets forth the computations of basic and diluted EPS for the three and nine months ended March 25, 2016 and March 27, 2015:



	Three Months Ended					Nine Months Ended
	March 25, 2016			March 27, 2015		March 25, 2016			March 27, 2015
Net (loss) income applicable to TRC Companies, Inc.	$	(14,297	)	$	5,165	$	(5,868	)	$	12,652

Basic weighted-average common shares outstanding	31,045			30,382		30,886			30,233
Effect of dilutive stock options, RSA's, RSU's and PSU's	—			355		—			318
Diluted weighted-average common shares outstanding	31,045			30,737		30,886			30,551

Earnings per common share applicable to TRC Companies, Inc.
Basic (loss) earnings per common share	$	(0.46	)	$	0.17	$	(0.19	)	$	0.42
Diluted (loss) earnings per common share	$	(0.46	)	$	0.17	$	(0.19	)	$	0.41
Anti-dilutive stock options, RSA's, RSU's and PSU's, excluded from the calculation	1,916			1,832		1,916			1,868