Earnings (Loss) Per Share

6 Months Ended

Dec. 31, 2019

EARNINGS (LOSS) PER SHARE

The following table sets forth the computation of basic and diluted net income (loss) per share:


	Three Months Ended December 31,						Six Months Ended December 31,
	2019		2018		2019		2018
Numerator:
Net income (loss) from continuing operations	$	1,852	$	(31,787)	$	(3,101)	$	(54,874)
Net loss from discontinued operations, net of tax	(2,816)		(34,714)		(104,884)		(49,052)
Net loss	$	(964)	$	(66,501)	$	(107,985)	$	(103,926)

Denominator:
Basic weighted average shares outstanding	104,318		104,056		104,272		104,009
Effect of dilutive stock options, unvested restricted stock and unvested restricted share units	301		—		—		—
Diluted weighted average shares outstanding	104,619		104,056		104,272		104,009

Basic net income (loss) per common share:
Continuing operations	$	0.02	$	(0.31)	$	(0.03)	$	(0.53)
Discontinued operations	(0.03)		(0.33)		(1.01)		(0.47)
Basic net loss per common share	$	(0.01)	$	(0.64)	$	(1.04)	$	(1.00)

Diluted net income (loss) per common share:
Continuing operations	$	0.02	$	(0.31)	$	(0.03)	$	(0.53)
Discontinued operations	(0.03)		(0.33)		(1.01)		(0.47)
Diluted net loss per common share	$	(0.01)	$	(0.64)	$	(1.04)	$	(1.00)

Basic net income (loss) per share excludes the dilutive effects of stock options, unvested restricted stock and unvested restricted share units.

Due to our net losses in the six months ended December 31, 2019 and the three and six months ended December 31, 2018, all common stock equivalents such as stock options and unvested restricted stock awards have been excluded from the computation of diluted net loss per common share because the effect would have been anti-dilutive to the computations in each period.

There were 485 and 498 restricted stock awards and stock options excluded from our calculation of diluted net income (loss) per share for the three months ended December 31, 2019 and 2018, respectively, as such awards were anti-dilutive. Additionally, there were 2,550 and 1,152 stock-based awards excluded for the three months ended December 31, 2019 and 2018, respectively, as such awards were contingently issuable based on market or performance conditions, and such conditions had not been achieved during the respective periods.

There were 689 and 464 restricted stock awards and stock options excluded from our calculation of diluted net loss per share for the six months ended December 31, 2019 and 2018, respectively, as such awards were anti-dilutive. Additionally, there were 2,745 and 710 stock-based awards excluded for the six months ended December 31, 2019 and 2018, respectively, as such awards were contingently issuable based on market or performance conditions, and such conditions had not been achieved during the respective periods.

Share Repurchase Program

On June 21, 2017, the Company's Board of Directors authorized the repurchase of up to $250,000 of the Company’s issued and outstanding common stock. Repurchases may be made from time to time in the open market, pursuant to pre-set trading plans, in private transactions or otherwise. The authorization does not have a stated expiration date. The extent to which the Company repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations, including the Company’s historical strategy of pursuing accretive acquisitions. As of December 31, 2019, the Company had not repurchased any shares under this program and had $250,000 of remaining capacity under the share repurchase program.