Net income (loss) per share

3 Months Ended

Sep. 30, 2020

Basic income (loss) per share is calculated by dividing income (loss) by the weighted-average number of common shares outstanding for the period. Diluted income (loss) per share is computed by dividing income (loss) by the weighted-average number of common shares outstanding for the period, including potential dilutive common shares assuming the dilutive effect of outstanding stock options, restricted stock units and employee stock purchase plan rights using the treasury-stock method.

The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share amounts):


	Three Months Ended September 30,
	2020		2019
Income from continuing operations	$	3,335	$	32
Loss on discontinued operations	—		(3,986)
Net income (loss)	$	3,335	$	(3,954)

Shares used to compute basic income (loss) per share	47,227		47,780
Dilutive potential common shares:
Stock options	—		527
Restricted stock units	577		1,341
Employee stock purchase plan	37		—
Shares used to compute diluted income (loss) per share	47,841		49,648
Basic income (loss) per share:
Income from continuing operations	$	0.07	$	—
Loss on discontinued operations	—		(0.08)
Net income (loss)	$	0.07	$	(0.08)
Diluted income (loss) per share:
Income from continuing operations	$	0.07	$	—
Loss on discontinued operations	—		(0.08)
Net income (loss)	$	0.07	$	(0.08)

Potential common stock equivalents not included in the calculation of diluted income (loss) per share as the effect would be anti-dilutive	1,856		5,026

A total of 1,495,000 and 800,000 outstanding performance-based restricted stock units as of September 30, 2020 and 2019, respectively, as described further in Note 9, were excluded from the diluted shares calculation above because they are contingently issuable and none of the performance milestones had been met.