EARNINGS (LOSS) PER SHARE CALCULATION

9 Months Ended

Mar. 31, 2024

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)	2024		2023

Numerator for basic and diluted loss per share
Net income (loss)	$	4,656	6,948
Preferred dividends	(289)		$	(289)
Net income (loss) applicable to common shareholders	4,367		6,659

Denominator for basic earnings (loss) per share - Weighted average shares outstanding	72,851,498		72,491,373
Effect of dilutive potential common shares	1,216,939		374,848
Denominator for diluted earnings (loss) per share - Adjusted weighted average shares outstanding	74,068,437		72,866,221

Basic earnings (loss) per share	$	0.06	$	0.09
Diluted earnings (loss) per share	$	0.06	$	0.09


	Nine months ended March 31,
($ in thousands, except per share data)	2024		2023

Numerator for basic and diluted loss per share
Net income (loss)	9,787		$	(2,199)
Preferred dividends	(578)		$	(623)
Net income (loss) applicable to common shareholders	9,209		(2,822)

Denominator for basic earnings (loss) per share - Weighted average shares outstanding	72,770,582		71,771,135
Effect of dilutive potential common shares	1,284,238		—
Denominator for diluted earnings (loss) per share - Adjusted weighted average shares outstanding	74,054,820		71,771,135

Basic earnings (loss) per share	$	0.13	$	(0.04)
Diluted earnings (loss) per share	$	0.12	$	(0.04)

Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 1 million for the three and nine months ended March 31, 2024. Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 4.5 million for the three months ended March 31, 2023.