Earnings Per Share

12 Months Ended

Jun. 30, 2020

The following table sets forth the computation of earnings (loss) per share for the periods indicated. Basic earnings (loss) per share has been computed using the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) 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.


Year Ended June 30,	2020		2019		2018
($000 except per share)
Net earnings (loss)	$	(67,029)	$	107,517	$	88,002
Divided by:
Weighted average shares	84,828		63,584		62,499

Basic earnings (loss) per common share	$	(0.79)	$	1.69	$	1.41

Net earnings (loss)	$	(67,029)	$	107,517	$	88,002
Divided by:
Weighted average shares	84,828		63,584		62,499
Dilutive effect of common stock equivalents	—		2,220		2,634
Diluted weighted average common shares	84,828		65,804		65,133

Diluted earnings (loss) per common share	$	(0.79)	$	1.63	$	1.35

The following table presents potential shares of common stock excluded from the calculation of diluted net income per share, as their effect would have been antidilutive ($000):


Year Ended June 30,	2020	2019	2018
Stock options and restricted shares	2,345	115	135
0.25% Convertible Senior Notes due 2022	7,331	7,331	7,331
0.50% Finisar Convertible Notes	289	—	—
Total anti-dilutive shares	9,965	7,446	7,466