Earnings Per Share

9 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings Per Share

The Company reports basic earnings per common share, which excludes the effect of potentially dilutive securities, and diluted earnings per common share, which includes the effect of all potentially dilutive securities unless their impact is anti-dilutive. The following are reconciliations of the numerators and denominators of basic and diluted earnings per share:

	Three Months Ended						Nine Months Ended
(dollars in thousands, except per share amounts)	March 31, 2015			March 31, 2014			March 31, 2015			March 31, 2014
Net loss (numerator):
Net loss – basic	$	(3,734	)	$	(1,984	)	$	(38,145	)	$	(5,464	)
Weighted average shares (denominator):
Weighted average shares – basic		14,857			13,422			14,857			13,237
Dilution effect of share-based compensation, treasury method(1)		—			—			—			—
Weighted average shares – diluted		14,857			13,422			14,857			13,237
Loss per share:
Basic	$	(0.25	)	$	(0.15	)	$	(2.57	)	$	(0.41	)
Diluted	$	(0.25	)	$	(0.15	)	$	(2.57	)	$	(0.41	)

(1)   Warrants to purchase approximately 1,553,560, shares of the Company’s common stock were excluded from this calculation during the three and nine months ended March 31, 2015 and 2014 because they were anti-dilutive.