Net (Loss) Income Per Common Share

Basic net income (loss) per common share is calculated by dividing net income (loss) attributable to the Company by the weighted average number of common shares outstanding during the periods presented. Diluted net income (loss) per common share is calculated by dividing diluted net income (loss) attributable to the Company by the weighted average number of common shares outstanding adjusted to include the effect, if dilutive, of the exercise of in-the-money stock options, unvested restricted stock, performance-based restricted stock units, and shares of Series A Preferred Stock, as converted, during the periods presented.

The following table presents the computation of basic and diluted earnings per common share:



	For the Years Ended June 30,
(In thousands, except share and per share amounts)	2019			2018			2017
Undistributed net (loss) income available to common stockholders	$	(74,054	)	$	(18,652	)	$	22,524
Undistributed net (loss) income available to nonvested restricted stockholders and holders of convertible preferred stock	(76		)	(17		)	27
Net (loss) income available to common stockholders—basic	$	(74,130	)	$	(18,669	)	$	22,551

Weighted average common shares outstanding—basic	16,996,354			16,815,020			16,668,745
Effect of dilutive securities:
Shares issuable under stock options	—			—			117,007
Weighted average common shares outstanding—diluted	16,996,354			16,815,020			16,785,752
Net (loss) income per common share available to common stockholders—basic	$	(4.36	)	$	(1.11	)	$	1.35
Net (loss) income per common share available to common stockholders—diluted	$	(4.36	)	$	(1.11	)	$	1.34

The following table summarizes anti-dilutive securities excluded from the computation of diluted net income (loss) per common share for the periods indicated:



	For the Years Ended June 30,
(In thousands)	2019	2018	2017
Shares issuable under stock options	—	462,032	24,671
Shares issuable under convertible preferred stock	407,734	393,769	—
Shares issuable under PBRSUs	—	35,732	—