Earnings Per Share

6 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

14. Earnings per share

     Basic earnings per share include restricted stock awards that meet the definition of a "participating security". Restricted stock awards are eligible to receive non-forfeitable dividend equivalents at the same rate as common stock. Basic earnings per share have been calculated using the two-class method and basic earnings per share for the three and six months ended December 31, 2011 and 2010, reflects only undistributed earnings.

     Diluted earnings per share have been calculated to give effect to the number of additional shares of common stock that would have been outstanding if the potential dilutive instruments had been issued in each period. The calculation of diluted earnings per share for the three and six months ended December 31, 2011 and 2010, includes the dilutive effect of a portion of the restricted stock awards granted to employees as these restricted stock awards are considered contingently issuable shares. For the purposes of the diluted earnings per share calculation and as of December 31, 2011 and 2010, the vesting conditions in respect of a portion of the awards had not been satisfied.

     The following table details the weighted average number of outstanding shares used for the calculation of earnings per share for the three and six months ended December 31, 2011 and 2010.

	Three months ended December 31,				Six months ended December 31,
	2011		2010		2011		2010
	' 000		' 000		' 000		' 000
Weighted average number of outstanding shares of
common stock – basic		44,935		45,433		44,996		45,409
Weighted average effect of dilutive securities:
employee share-based awards		32		61		30		46
Weighted average number of outstanding shares of
common stock – diluted		44,967		45,494		45,026		45,455