NET INCOME (LOSS) PER SHARE

6 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

NOTE 6. NET INCOME (LOSS) PER SHARE

We calculate basic net income (loss) per share by dividing net income by the weighted-average number of common shares outstanding during the reporting period. The weighted-average number of common shares outstanding reflects the effects of potentially dilutive securities, in income generating periods, which consist entirely of outstanding stock options and performance awards.

The following table presents reconciliations of the numerators and denominators of the basic and diluted earnings (loss) per share computations for net income (loss). Because we incurred a net loss for the six months ended December 31, 2023, basic and diluted loss were the same as the inclusion of 64,800 common shares potentially issuable under the terms of outstanding performance awards would have had an anti-dilutive effect. In the tables below, net income amounts represent the numerator, and weighted average shares outstanding amounts represent the denominator (in thousands, except per share amounts):

	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023			2022
Basic:			(restated)					(restated)
Net income (loss)	$	500	$	2,752	$	(115	)	$	3,955
Weighted average shares outstanding		3,547		3,574		3,547			3,595
Basic income (loss) per share	$	0.14	$	0.77	$	(0.03	)	$	1.10
Diluted:
Net income (loss)	$	500	$	2,752	$	(115	)	$	3,955
Weighted average shares outstanding		3,547		3,574		3,547			3,595
Effect of dilutive securities		65		78		—			77
Weighted average shares used in calculation of diluted earnings per share		3,612		3,652		3,547			3,672
Diluted income (loss) per share	$	0.14	$	0.75	$	(0.03	)	$	1.08