Net Income (Loss) Per Common Share

6 Months Ended

Dec. 31, 2011

Net Income (Loss) Per Common Share

(4)  Net Income (Loss) Per Common Share

Basic income (loss) per common share is based on the weighted average number of common shares outstanding during the period.  Diluted income (loss) per common share includes the dilutive effect of potential common shares outstanding.  The following table sets forth the reconciliation of weighted average shares outstanding and diluted weighted average shares outstanding:

	Six months ended December 31,				Three months ended December 31,
	2011		2010		2011		2010
Weighted average shares outstanding		26,520		25,351		26,565		25,391
Dilutive effect of stock options and restricted stock awards and units		166		203		172		-
Diluted weighted average shares outstanding		26,686		25,554		26,737		25,391

The effect of approximately 228 common equivalent shares for the three months ended December 31, 2010 were excluded from the diluted weighted average shares outstanding due to a net loss for the period. There were 1,732 and 1,572 common equivalent shares outstanding as of December 31, 2011 and 2010, respectively, that were not included in the calculation of diluted income per common share for the six months ended December 31, 2011 and 2010, respectively, because their effect would have been anti-dilutive. There were 1,685 and 1,631 common equivalent shares outstanding as of December 31, 2011 and 2010, respectively, that were not included in the calculation of diluted income per common share for the three months ended December 31, 2011 and 2010, respectively, because their effect would have been anti-dilutive.