Income/(loss) per common share

9 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Income/(loss) per common share

4.      Income/(loss) per common share - The following table sets forth the computation of basic and diluted income/(loss) per common share (in thousands, except per share amounts):

	Three Months Ended March 31,						Nine Months Ended March 31,
	2015			2014			2015			2014
Net income/(loss)	$	(2,804	)	$	(8,428	)	$	14,625		$	(2,763	)
Less: Income to participating securities		—			—			(125	)		—
Net income/(loss) attributable to common shares	$	(2,804	)	$	(8,428	)	$	14,500		$	(2,763	)
Weighted average number of common shares outstanding basic		43,554			43,072			43,431			42,863
Effect of dilutive stock equivalents		—			—			319			—
Weighted average number of common shares outstanding dilutive		43,554			43,072			43,750			42,863
Net income/(loss) per common share basic	$	(0.06	)	$	(0.20	)	$	0.33		$	(0.06	)
Net income/(loss) per common share diluted	$	(0.06	)	$	(0.20	)	$	0.33		$	(0.06	)

For the quarters ended March 31, 2015 and March 31, 2014, and for the nine months ended March 31, 2014, all options representing rights to purchase shares were excluded from the diluted loss per share calculation as the Company had a net loss for those periods and the assumed exercise of such options would have been anti-dilutive.  For the nine months ended March 31, 2015, options representing rights to purchase 275,783 weighted average shares were not included in the diluted income per share calculation because the assumed exercise of such options would have been anti-dilutive.