Basic And Diluted Net Income (Loss) Per Share

9 Months Ended

Mar. 31, 2012

Basic And Diluted Net Income (Loss) Per Share [Abstract]

Basic And Diluted Net Income (Loss) Per Share

3.Basic and Diluted Net Income (Loss) per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during each period.Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares including dilutive common share equivalents.Under the treasury stock method, incremental shares representing the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued are included in the computation.Diluted earnings per common share assumes exercise of outstanding stock options and vesting of restricted stock when the effects of such assumptions are dilutive.Common share equivalents of 695,000 and 650,000 for the three months ended March 31, 2012 and 2011, respectively, were excluded from the calculation as their effect was antidilutive.Common share equivalents of 795,000 and 973,000 for the nine months ended March 31, 2012 and 2011, respectively, were excluded from the calculation as their effect was antidilutive.

The following table presents a reconciliation of the numerators and denominators of basic and diluted net loss per share for the periods indicated (dollars and share data in thousands, except per-share amounts):

	Three Months Ended March 31,		Nine Months Ended March 31,
	2012	2011	2012	2011
Basic and diluted earnings per share (EPS) calculation:
Net income (loss)	$   337	$   498	$(3,096)	$(1,902)
Basic weighted average number of shares outstanding	8,644	8,423	8,584	8,400
Effect of dilutive securities:
Restricted stock	107	180	-	-
Diluted weighted average number of shares outstanding	8,751	8,603	8,584	8,400
Basic EPS	$ 0.04	$ 0.06	$ (0.36)	$ (0.23)
Diluted EPS	$ 0.04	$ 0.06	$ (0.36)	$ (0.23)