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EARNINGS PER SHARE
 3 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

The basic earnings per share (“EPS”) calculation excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution of EPS that could occur if options to issue common stock were exercised.

The following table sets forth the computation for basic and diluted EPS:
 
 
Three Months Ended September 30,
(dollars in thousands, except per share data)
 
2014
 
2013
Net loss
 
 
 
 
Loss from continuing operations
 
$
(89
)
 
$
(9
)
Less: Income attributable to non-controlling interest in subsidiary
 
39

 
—

Loss from continuing operations attributable to U.S. Global Investors, Inc.
 
(128
)
 
(9
)
Loss from discontinued operations attributable to U.S. Global Investors, Inc.
 
—

 
(28
)
Net loss attributable to U.S. Global Investors, Inc.
 
$
(128
)
 
$
(37
)
 
 
 
 
 
Weighted average number of outstanding shares
 
 
Basic
 
15,429,327

 
15,471,268

Effect of dilutive securities
 
 
 
 
Employee stock options
 
—

 
—

Diluted
 
15,429,327

 
15,471,268

 
 
 
 
 
Loss per share attributable to U.S. Global Investors, Inc.
 
 
 
 
Basic
 
 
 
 
   Loss from continuing operations
 
$
(0.01
)
 
$
0.00

   Loss from discontinued operations
 
$
0.00

 
$
0.00

   Net loss attributable to U.S. Global Investors, Inc.
 
$
(0.01
)
 
$
0.00

Diluted
 
 
 
 
   Loss from continuing operations
 
$
(0.01
)
 
$
0.00

   Loss from discontinued operations
 
$
0.00

 
$
0.00

   Net loss attributable to U.S. Global Investors, Inc.
 
$
(0.01
)
 
$
0.00


 
The diluted EPS calculation excludes the effect of stock options when their exercise prices exceed the average market price for the period. For the three months ended September 30, 2014, 22,000 options were excluded from diluted EPS compared to 29,000 options excluded for the corresponding period in 2013.

During the three months ended September 30, 2014, and the three months ended September 2013, the Company repurchased class A shares on the open market. Upon repurchase, these shares are classified as treasury shares and are deducted from outstanding shares in the earnings per share calculation.