Basic And Diluted Loss Per Share

6 Months Ended

Dec. 31, 2011

Basic And Diluted Loss Per Share

Basic And Diluted Loss Per Share

6. Basic and Diluted Loss Per Share

     Basic loss per share is computed by dividing the net loss by the weighted average number of shares of common stock and participating securities outstanding during the periods presented. Diluted loss per share is computed by dividing the net loss by the weighted average number of shares of common stock and participating securities outstanding plus all dilutive potential common shares that result from stock options. The weighted average common shares outstanding for both basic and dilutive (in thousands), were 14,744 and 14,548, for the three-months ended December 31, 2011 and 2010, respectively, and 14,735 and 14,553, for the six-months ended December 31, 2011 and 2010, respectively.

The dilutive effect of stock options excludes approximately 1.41 million and 1.43 million options for the three and six-months ended December 31, 2011, respectively, and 1.78 million and 1.65 million options for the three and six-months ended December 31, 2010, respectively, for which the exercise price was higher than the average market price. In addition, 18,449 and 6,231 of potentially dilutive stock options where the exercise price was lower than the average market price were excluded from diluted weighted average common shares outstanding for the three-months ended December 31, 2011 and December 31, 2010, respectively, as they would be anti-dilutive due to the Company's net loss for such periods. For the six-months ended December 31, 2011 and 2010, there were 2,141 and 2,800 potentially dilutive stock options, respectively, excluded from diluted weighted average common shares outstanding, as they would also be anti-dilutive due to the Company's net loss for these six-month periods.