EARNINGS PER SHARE

12 Months Ended

Jun. 30, 2013

EARNINGS PER SHARE

EARNINGS PER SHARE

11. EARNINGS PER SHARE

        The following table sets forth a reconciliation of the income (loss) from continuing operations available to common shareholders and the income (loss) from continuing operations for diluted earnings per share under the if-converted method:

	Fiscal Years
	2013		2012			2011
	(Dollars in thousands)
Income (loss) from continuing operations available to common shareholders	$	4,166	$	(51,743	)	$	(20,939	)
Effect of dilutive securities:
Interest on convertible debt(1)		—		—			—
Income (loss) from continuing operations for diluted earnings per share	$	4,166	$	(51,743	)	$	(20,939	)

(1)

Interest on convertible debt was excluded from income (loss) from continuing operations for diluted earnings per share as the convertible debt was not dilutive.

        The following table sets forth a reconciliation of shares used in the computation of basic and diluted earnings per share:

	Fiscal Years
	2013		2012		2011
	(Shares in thousands)
Weighted average shares for basic earnings per share		56,704		57,137		56,704
Effect of dilutive securities:
Dilutive effect of convertible debt		—		—		—
Dilutive effect of stock-based compensation(1)		142		—		—
Weighted average shares for diluted earnings per share		56,846		57,137		56,704

(1)

For fiscal year 2012 and 2011, 182,270 and 333,595 common stock equivalents of potentially dilutive common stock were not included in the diluted earnings per share calculation because to do so would have been anti-dilutive.

        The computation of weighted average shares outstanding, assuming dilution, excluded 1,593,228, 1,987,784 and 2,553,642 of equity-based compensation awards during the fiscal years 2013, 2012, and 2011, respectively. These amounts were excluded because they were not dilutive under the treasury stock method. The computation of weighted average shares outstanding, assuming dilution also excluded 11,260,261, 11,208,552, and 11,163,056 of shares from convertible debt for fiscal years 2013, 2012, and 2011, respectively. These amounts were excluded as they were not dilutive.