Net Income (Loss) Per Share

9 Months Ended

Mar. 31, 2014

Net Income (Loss) Per Share

Net Income (Loss) Per Share

10.  Net Income (Loss) Per Share

Basic income (loss) per share is determined by dividing net income (loss) by the weighted average common shares outstanding during the period. Diluted income (loss) per share is determined by dividing net income (loss) by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted net income (loss) per share based on the treasury stock method.

For the three and nine months ended March 31, 2014 and 2013, certain employee equity awards were anti-dilutive based on the treasury stock method. The calculations of basic and diluted net income (loss) per share and basic and diluted weighted average shares outstanding are as follows:

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2014		2013		2014		2013
	(Dollars and Shares in Thousands, Except per Share Data)
Net income	$	20,843	$	10,513	$	59,105	$	24,863
Weighted average shares outstanding	92,414		93,730		92,891		93,556
Dilutive impact from:
Share-based payment awards	951		1,670		1,060		1,919
Dilutive weighted average shares outstanding	93,365		95,400		93,951		95,475
Income per share
Basic	$	0.23	$	0.11	$	0.64	$	0.27
Dilutive	$	0.22	$	0.11	$	0.63	$	0.26

The following potential common shares were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive at the balance sheet date:

	Three Months Ended		Nine Months Ended
	March 31,		March 31,
	2014	2013	2014	2013
	(Shares in Thousands)
Employee equity awards	61	438	325	947