Earnings Per Share (Tables)

3 Months Ended

Sep. 30, 2019

Reconciliation of Numerators and Denominators Used in Basic and Diluted Earnings Per Common Share Computations

The following table presents a reconciliation of the numerators and denominators used in the basic and diluted earnings per common share computations (in thousands except share and per share amounts):


	Three Months Ended September 30,
	2019		2018
Numerator
Net income (loss)	$	(5,780)	$	(2,888)
Income allocated to participating securities	—		—
Net income (loss) available to common stockholders	$	(5,780)	$	(2,888)
Denominator
Weighted average common shares outstanding – basic	33,870,224		33,425,065

Effect of dilutive restricted stock units⁽¹⁾	—		—
Effect of performance-based restricted stock awards⁽²⁾	—		—

Weighted average common shares outstanding – diluted	33,870,224		33,425,065

Earnings per common share – basic and diluted	$	(0.17)	$	(0.09)

(1)At September 30, 2019 and 2018, 365,973 and 354,176 additional shares of common stock, respectively, were issuable upon the settlement of outstanding restricted stock units. The effect of the shares that would be issued upon settlement of these restricted stock units has been excluded from the calculation of diluted loss per share for the three months ended September 30, 2019 and 2018, because those shares are anti-dilutive.

(2)At September 30, 2019 and 2018, 663,273 and 740,176 performance-based restricted stock awards, respectively, were outstanding. The effect of the potential vesting of these awards has been excluded from the calculation of diluted loss per share for the three months ended September 30, 2019 and 2018, because those shares are anti-dilutive.