EARNINGS (LOSS) PER SHARE CALCULATION

9 Months Ended

Mar. 31, 2023

Basic earnings (loss) per share is computed by dividing net earnings (loss) 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 (loss) per share is presented below:


	Three months ended March 31,
($ in thousands, except per share data)	2023		2022

Numerator for basic and diluted earnings (loss) per share
Net earnings	$	6,948	$	2,136
Preferred dividends	(289)		(334)
Net earnings applicable to common shareholders	6,659		1,802

Denominator for basic earnings (loss) per share - Weighted average shares outstanding	72,491,373		71,083,044
Effect of dilutive potential common shares	374,848		403,674
Denominator for diluted loss per share - Adjusted weighted average shares outstanding	72,866,221		71,486,718

Basic and diluted earnings per share	$	0.09	$	0.03


	Nine months ended March 31,
($ in thousands, except per share data)	2023		2022

Numerator for basic and diluted loss per share
Net earnings (loss)	$	(2,199)	$	377
Preferred dividends	(623)		(668)
Net earnings (loss) applicable to common shareholders	(2,822)		(291)

Denominator for basic loss per share - Weighted average shares outstanding	71,771,135		71,076,022
Effect of dilutive potential common shares	—		—
Denominator for diluted loss per share - Adjusted weighted average shares outstanding	71,771,135		71,076,022

Basic and diluted loss per share	$	(0.04)	$	—

For the three month ended March 31, 2023, approximately 4.5 million of anti-dilutive shares were excluded from the computation of diluted earnings per share. For the nine months ended March 31, 2023, approximately 4.9 million anti-dilutive shares were excluded from the calculation of diluted loss per share. Anti-dilutive shares excluded from the calculation of diluted loss per share were approximately 5 million for the three and nine months ended March 31, 2022.