Basic And Diluted Loss Per Share

3 Months Ended

Sep. 30, 2013

Basic And Diluted Loss Per Share [Abstract]

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 21,020 and 20,180, for the three-months ended September 30, 2013 and 2012, respectively.

The dilutive effect of stock options excludes approximately 1.79 million and 1.89 million awards for the three-months ended September 30, 2013 and 2012, respectively,  for which the exercise price was higher than the average market price. In addition, there were no potentially dilutive stock options where the exercise price was lower than the average market price for the three-months ended September 30, 2013.  For the three-month period ended September 30, 2012,1,493 potentially dilutive stock options, where the exercise price was lower than the average market price, were excluded from diluted weighted average common shares outstanding as they would be anti-dilutive due to the Company’s net loss for such periods.