Net Income (Loss) Per Share

6 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

12. Net Income (Loss) Per Share

FASB ASC 260, Earnings Per Share, specifies the computation, presentation and disclosure requirements for earnings per share (“EPS”). Basic EPS are computed using the weighted average number of shares outstanding. Diluted EPS are computed using the weighted average number of shares outstanding adjusted for the incremental shares attributed to outstanding securities with a right to purchase or convert into common stock.

The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share data).

	Six Months Ended			Year Ended June 30,
	December 31,
	2011			2011			2010		2009
Net income (loss)	$	(29,437	)	$	(56,780	)	$	7,040	$	(68,300	)
Weighted average common basic shares		47,707			48,171			47,961		47,664
Effect of dilutive securities		—			—			457		—
Weighted average common dilutive shares		47,707			48,171			48,418		47,664
Basic net income (loss) per share	$	(0.62	)	$	(1.18	)	$	0.15	$	(1.43	)
Diluted net income (loss) per share	$	(0.62	)	$	(1.18	)	$	0.15	$	(1.43	)

For the six months ended December 31, 2011 and the years ended June 30, 2011 and 2009, the computation of diluted net loss per share did not include 0.1 million, 0.1 million and 0.6 million shares, respectively, of unvested restricted common stock as their inclusion would have been anti-dilutive. For the year ended June 30, 2010, the computation of diluted net income per share included 0.5 million shares of unvested restricted common stock. Options to purchase 4.5 million, 4.5 million, 4.6 million and 5.3 million shares for the six months ended December 31, 2011 and the years ended June 30, 2011, 2010 and 2009, respectively, were not included in the computation of diluted net income (loss) per share as their exercise prices were in excess of the average stock prices for the periods presented.