Net Income Per Share

3 Months Ended

Sep. 30, 2023

Net Loss Per Share

Basic (loss) income per share is determined by dividing net (loss) income by the weighted average common shares outstanding during the period. Diluted (loss) income per share is determined by dividing net (loss) income by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted net (loss) income per share based on the treasury stock method.

The calculations of basic and diluted net loss per share and basic and dilutive weighted average shares outstanding for the three months ended September 30, 2023 and 2022 are as follows:


	Three Months Ended September 30,
	2023		2022

	(Dollars and Shares in Thousands, Except per Share Data)
Net loss	$	(34,525)	$	(11,244)

Basic weighted average shares outstanding	64,319		64,454



Dilutive weighted average shares outstanding	64,319		64,454

Loss per share
Basic	$	(0.54)	$	(0.17)
Dilutive	$	(0.54)	$	(0.17)

For the three months ended September 30, 2023, and 2022 certain employee equity awards were anti-dilutive based on the treasury stock method. The following employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive as of September 30, 2023 and 2022:


	Three Months Ended September 30,
	2023	2022

	(Shares in Thousands)
Employee equity awards	1,449	286