EARNINGS (LOSS) PER SHARE CALCULATION

6 Months Ended

Dec. 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 December 31,
($ in thousands, except per share data)	2023		2022

Numerator for basic and diluted loss per share
Net income (loss)	$	3,124	(573)
Preferred dividends	—		$	—
Net income (loss) applicable to common shareholders	3,124		(573)

Denominator for basic earnings (loss) per share - Weighted average shares outstanding	72,743,162		71,629,939
Effect of dilutive potential common shares	1,170,437		—
Denominator for diluted earnings (loss) per share - Adjusted weighted average shares outstanding	73,913,599		71,629,939

Basic earnings (loss) per share	$	0.04	$	(0.01)
Diluted earnings (loss) per share	$	0.04	$	(0.01)


	Six months ended December 31,
($ in thousands, except per share data)	2023		2022

Numerator for basic and diluted loss per share
Net income (loss)	5,131		$	(9,147)
Preferred dividends	(289)		$	(334)
Net income (loss) applicable to common shareholders	4,842		(9,481)

Denominator for basic earnings (loss) per share - Weighted average shares outstanding	72,730,563		71,418,845
Effect of dilutive potential common shares	1,204,354		—
Denominator for diluted earnings (loss) per share - Adjusted weighted average shares outstanding	73,934,917		71,418,845

Basic earnings (loss) per share	$	0.07	$	(0.13)
Diluted earnings (loss) per share	$	0.07	$	(0.13)

Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 1 million for the three and six months ended December 31, 2023. Potentially anti-dilutive shares excluded from the calculation of diluted loss per share were approximately 5 million for the three and six months ended December 31, 2022.