EARNINGS (LOSS) PER SHARE CALCULATION

9 Months Ended

Mar. 31, 2026

Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share, applicable only to years ended with reported income is computed by dividing net income by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The calculation of basic and diluted earnings per share is presented below:


	Three months ended March 31,
($ in thousands, except per share data)	2026		2025

Numerator for basic and diluted earnings per share
Net (loss) income	$	(2,158)	49,156
Preferred dividends	(289)		(289)
Net (loss) income applicable to common shareholders	$	(2,447)	$	48,867

Denominator for basic earnings per share - Weighted average shares outstanding	73,920,289		73,169,131
Effect of dilutive potential common shares	—		1,585,287
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding	73,920,289		74,754,418

Basic (loss) earnings per share	$	(0.03)	$	0.67
Diluted (loss) earnings per share	$	(0.03)	$	0.65


	Nine months ended March 31,
($ in thousands, except per share data)	2026		2025

Numerator for basic and diluted earnings per share
Net (loss) income	$	(3,147)	57,702
Preferred dividends	(578)		(578)
Net (loss) income applicable to common shareholders	$	(3,725)	$	57,124

Denominator for basic earnings per share - Weighted average shares outstanding	73,786,304		73,117,081
Effect of dilutive potential common shares	—		1,402,870
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding	73,786,304		74,519,951

Basic (loss) earnings per share	$	(0.05)	$	0.78
Diluted (loss) earnings per share	$	(0.05)	$	0.77

Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 4.6 million and 0.8 million for the nine months ended March 31, 2026 and 2025, respectively.