Earnings Per Share

9 Months Ended

Mar. 31, 2020

Earnings Per ShareThe following table sets forth the computation of earnings per share for the periods indicated. Basic earnings per share has been computed using the weighted average number of shares of Common Stock outstanding during the period. Diluted earnings per share has been computed using the weighted average number of common shares outstanding during the period plus dilutive potential shares of Common Stock from (1) stock options, performance and restricted shares (under the treasury stock method) and (2) convertible debt (under the If Converted method) outstanding during the period. The Company’s convertible debt calculated under the if-converted method was anti-dilutive for the three and nine months ended March 31, 2020 and 2019, and was excluded from the calculation of earnings per share (000 except per share data):


	Three Months Ended March 31,						Nine Months Ended March 31,
	2020		2019		2020		2019
Basic Earnings per Share
Net earnings (loss)	$	5,921	$	24,638	$	(118,290)	$	79,489
Divided by:
Weighted average shares	91,081		63,612		82,615		63,539
Basic earnings (loss) per common share	$	0.07	$	0.39	$	(1.43)	$	1.25
Diluted Earnings per Share
Net earnings (loss)	$	5,921	$	24,638	$	(118,290)	$	79,489
Divided by:
Weighted average shares	91,081		63,612		82,615		63,539
Dilutive effect of common stock equivalents	2,354		2,089		—		2,305
Diluted weighted average common shares	93,435		65,701		82,615		65,844
Diluted earnings (loss) per common share	$	0.06	$	0.38	$	(1.43)	$	1.21

The following table presents potential shares of Common Stock excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive (000):


	Three Months Ended March 31,			Nine Months Ended March 31,
	2020	2019	2020	2019
Common stock equivalents	410	109	2,801	119
0.25% Convertible Senior Notes due 2022	7,331	7,331	7,331	7,331
0.50% Finisar Convertible Notes	75	—	360	—
Total anti-dilutive shares	7,816	7,440	10,492	7,450