EARNINGS PER SHARE CALCULATION

3 Months Ended

Sep. 30, 2025

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 September 30,
($ in thousands, except per share data)	2025		2024

Numerator for basic and diluted (loss) income per share
Net (loss) income	$	(919)	3,572
Preferred dividends	(289)		(289)
Net (loss) income applicable to common shareholders	$	(1,208)	$	3,283

Denominator for basic earnings per share - Weighted average shares outstanding	73,540,754		73,068,856
Effect of dilutive potential common shares	—		852,330
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding	73,540,754		73,921,186

Basic earnings per share	$	(0.02)	$	0.04
Diluted earnings per share	$	(0.02)	$	0.04

Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 4.7 million and 0.1 million for the three months ended September 30, 2025 and 2024, respectively.