Earnings (Loss) Per Common Share

6 Months Ended

Dec. 31, 2020

Earnings (Loss) Per Common Share

Earnings (Loss) Per Common Share

Note 14. Earnings (Loss) Per Common Share

A reconciliation of the Company’s basic and diluted earnings (loss) per common share was as follows:

	Three Months Ended
	December 31,
(In thousands, except share and per share data)	2020		2019
Numerator:
Net income (loss)	$	(171,948)	$	5,084
Interest expense applicable to the Notes, net of tax		—		—
Amortization of debt issuance costs applicable to the Notes, net of tax		—		—
Adjusted “if-converted” net income (loss)	$	(171,948)	$	5,084
Denominator:
Basic weighted average common shares outstanding		39,443,441		38,605,052
Effect of potentially dilutive options and restricted stock awards		—		1,952,451
Effect of conversion of the Notes		—		—
Diluted weighted average common shares outstanding		39,443,441		40,557,503
Earnings (loss) per common share:
Basic	$	(4.36)	$	0.13
Diluted	$	(4.36)	$	0.13

	Six Months Ended
	December 31,
(In thousands, except share and per share data)	2020		2019
Numerator:
Net loss	$	(178,447)	$	(7,073)
Interest expense applicable to the Notes, net of tax		—		—
Amortization of debt issuance costs applicable to the Notes, net of tax		—		—
Adjusted “if-converted” net loss	$	(178,447)	$	(7,073)
Denominator:
Basic weighted average common shares outstanding		39,257,211		38,457,159
Effect of potentially dilutive options and restricted stock awards		—		—
Effect of conversion of the Notes		—		—
Diluted weighted average common shares outstanding		39,257,211		38,457,159
Loss per common share:
Basic	$	(4.55)	$	(0.18)
Diluted	$	(4.55)	$	(0.18)

The number of anti-dilutive shares that have been excluded in the computation of diluted loss and earnings per share for the three months ended December 31, 2020 and 2019 were 8.1 million and 6.0 million, respectively. The number of anti-dilutive shares that have been excluded in the computation of diluted loss and earnings per share for the six months ended December 31, 2020 and 2019 were 8.1 million and 6.7 million, respectively. The effect of potentially dilutive shares was excluded from the calculation of diluted loss per share in the three and six months ended December 31, 2020 and the six months ended December 31, 2019 because the effect of including such securities would be anti-dilutive.