Earnings Per Share (Tables)

6 Months Ended

Dec. 31, 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						Six Months Ended
	December 31,						December 31,
	2019		2018		2019		2018
Numerator
Net (loss) income	$	(3,401)	$	492	$	(9,181)	$	(2,396)
Income allocated to participating securities	—		(3)		—		—
Net (loss) income available to common stockholders	$	(3,401)	$	489	$	(9,181)	$	(2,396)
Denominator
Weighted average common shares outstanding – basic	34,069,412		33,507,843		33,969,818		33,466,454

Effect of dilutive restricted stock units⁽¹⁾	—		327,662		—		—
Effect of performance-based restricted stock awards⁽²⁾	—		285,134		—		—

Weighted average common shares outstanding – diluted	34,069,412		34,120,639		33,969,818		33,466,454

Earnings per common share – basic	$	(0.10)	$	0.01	$	(0.27)	$	(0.07)
Earnings per common share – diluted	$	(0.10)	$	0.01	$	(0.27)	$	(0.07)

(1)At December 31, 2019 and 2018, 365,818 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 and six months ended December 31, 2019, and the six months ended December 31, 2018, because those shares are anti-dilutive.

(2)At December 31, 2019 and 2018, 661,314 and 740,097 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 and six months ended December 31, 2019, and the six months ended December 31, 2018, because those shares are anti-dilutive.