Earnings (Loss) Per Share

9 Months Ended

Mar. 31, 2017

Earnings (Loss) Per Share

Note 3.    Earnings (Loss) Per Share

Basic earnings (loss) and diluted net loss per share are computed using the weighted-average number of shares of common stock outstanding during the period, less any shares subject to repurchase or forfeiture. There were no shares of common stock subject to repurchase or forfeiture for the three and nine months ended March 31, 2017 and 2016. Diluted earnings per share is computed based on the sum of the weighted average number of common shares and potentially dilutive common shares outstanding during the period.

The following table presents the calculation of weighted average shares used to calculate basic and diluted earnings (loss) per share:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2017		2016		2017		2016
Weighted average shares outstanding		36,772,428		34,155,997		36,323,624		34,155,997
Effect of vested restricted stock units		400,000		266,666		370,316		237,090
Weighted average shares used in calculating basic earnings per share		37,172,428		34,422,663		36,693,940		34,393,087
Effect of potentially dilutive common shares from equity awards		—		—		66,814		—
Weighted average shares used in calculating diluted earnings per share		37,172,428		34,422,663		36,760,754		34,393,087
Potentially dilutive shares shares excluded from calculation due to anti-dilutive effect		8,069,528		6,694,158		7,583,217		6,554,186