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EARNINGS (LOSS) PER SHARE
 3 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE
The calculation of basic earnings (loss) per share (“EPS”) and diluted EPS are presented below:
 
 
Three months ended
September 30,
($ in thousands, except per share data)
 
2019
(as restated)
 
2018
 
 
 
 
 
Numerator for basic and diluted loss per share
 
 
 
 
Net loss
 
$
(11,508
)
 
$
(5,288
)
Preferred dividends
 
(334
)
 
(334
)
Net loss applicable to common shareholders
 
$
(11,842
)
 
$
(5,622
)
 
 
 
 
 
Denominator for basic loss per share - Weighted average shares outstanding
 
60,096,852

 
60,053,912

Effect of dilutive potential common shares
 
—

 
—

Denominator for diluted loss per share - Adjusted weighted average shares outstanding
 
60,096,852

 
60,053,912

 
 
 
 
 
Basic loss per share
 
$
(0.20
)
 
$
(0.09
)
Diluted loss per share
 
$
(0.20
)
 
$
(0.09
)


The calculation of basic and diluted EPS for the three months ended September 30, 2018 has been revised. Refer to Note 2 - Restatement and Revision of Prior Period Financial Statements.
Anti-dilutive shares excluded from the calculation of diluted loss per share were 1,293,317 for the three months ended September 30, 2019 and 1,420,301 for the three months ended September 30, 2018.