Summary of Calculation of Weighted Average Number of Shares Outstanding Used in Computing Basic and Diluted Net Income Loss Per Share |
The following table summarizes the computation of basic and diluted EPS under the two-class or as-converted method, as well as the anti-dilutive shares excluded:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 30, | | June 30, | | 2021 | | 2020 | | 2021 | | 2020 | Basic earnings per common share: | | | | | | | | Net income (loss) | $ | 3,000 | | | $ | (13,268) | | | $ | 2,536 | | | $ | 1,558 | | Less: Preferred stock dividend declared | (1,313) | | | (1,309) | | | (3,938) | | | (3,941) | | Net income (loss) available for distribution | 1,687 | | | (14,577) | | | (1,402) | | | (2,383) | | Income allocated to participating securities | (659) | | | — | | | — | | | — | | Net income (loss) available to common shareholders | $ | 1,028 | | | $ | (14,577) | | | $ | (1,402) | | | $ | (2,383) | | | | | | | | | | Weighted average basic shares outstanding | 32,821 | | | 32,607 | | | 32,746 | | | 28,871 | | | | | | | | | | Basic income (loss) per common share | $ | 0.03 | | | $ | (0.45) | | | $ | (0.04) | | | $ | (0.08) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 30, | | June 30, | | 2021 | | 2020 | | 2021 | | 2020 | Diluted earnings per common share: | | | | | | | | Method used: | Two-class | | Two-class | | Two-class | | Two-class | Net income (loss) available to common shareholders | $ | 1,028 | | | $ | (14,577) | | | $ | (1,402) | | | $ | (2,383) | | | | | | | | | | Weighted average basic shares outstanding | 32,821 | | | 32,607 | | | 32,746 | | | 28,871 | | Dilutive effect related to employee stock plans | 215 | | | — | | | — | | | — | | Weighted average diluted shares outstanding | 33,036 | | | 32,607 | | | 32,746 | | | 28,871 | | | | | | | | | | Diluted income (loss) per common share | $ | 0.03 | | | $ | (0.45) | | | $ | (0.04) | | | $ | (0.08) | | | | | | | | | | Anti-dilutive shares excluded: | | | | | | | | Outstanding stock-based grants | 190 | | | 281 | | | 646 | | | 297 | | Convertible preferred stock | 21,021 | | | 21,021 | | | 21,021 | | | 21,021 | | Total anti-dilutive shares excluded | 21,211 | | | 21,302 | | | 21,667 | | | 21,318 | | | | | | | | | | Dilutive shares under the as-converted method(1) | 54,057 | | | 53,909 | | | 53,950 | | | 50,189 | | (1) The dilutive shares under the as-converted method assume conversion of the Series A Preferred Stock and are presented here merely for reference. In a net income position, diluted earnings per share is determined by the more dilutive of the two-class method or the as-converted method.
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Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following table summarizes the computation of basic and diluted EPS under the two-class or as-converted method, as well as the anti-dilutive shares excluded:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 30, | | June 30, | | 2021 | | 2020 | | 2021 | | 2020 | Basic earnings per common share: | | | | | | | | Net income (loss) | $ | 3,000 | | | $ | (13,268) | | | $ | 2,536 | | | $ | 1,558 | | Less: Preferred stock dividend declared | (1,313) | | | (1,309) | | | (3,938) | | | (3,941) | | Net income (loss) available for distribution | 1,687 | | | (14,577) | | | (1,402) | | | (2,383) | | Income allocated to participating securities | (659) | | | — | | | — | | | — | | Net income (loss) available to common shareholders | $ | 1,028 | | | $ | (14,577) | | | $ | (1,402) | | | $ | (2,383) | | | | | | | | | | Weighted average basic shares outstanding | 32,821 | | | 32,607 | | | 32,746 | | | 28,871 | | | | | | | | | | Basic income (loss) per common share | $ | 0.03 | | | $ | (0.45) | | | $ | (0.04) | | | $ | (0.08) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 30, | | June 30, | | 2021 | | 2020 | | 2021 | | 2020 | Diluted earnings per common share: | | | | | | | | Method used: | Two-class | | Two-class | | Two-class | | Two-class | Net income (loss) available to common shareholders | $ | 1,028 | | | $ | (14,577) | | | $ | (1,402) | | | $ | (2,383) | | | | | | | | | | Weighted average basic shares outstanding | 32,821 | | | 32,607 | | | 32,746 | | | 28,871 | | Dilutive effect related to employee stock plans | 215 | | | — | | | — | | | — | | Weighted average diluted shares outstanding | 33,036 | | | 32,607 | | | 32,746 | | | 28,871 | | | | | | | | | | Diluted income (loss) per common share | $ | 0.03 | | | $ | (0.45) | | | $ | (0.04) | | | $ | (0.08) | | | | | | | | | | Anti-dilutive shares excluded: | | | | | | | | Outstanding stock-based grants | 190 | | | 281 | | | 646 | | | 297 | | Convertible preferred stock | 21,021 | | | 21,021 | | | 21,021 | | | 21,021 | | Total anti-dilutive shares excluded | 21,211 | | | 21,302 | | | 21,667 | | | 21,318 | | | | | | | | | | Dilutive shares under the as-converted method(1) | 54,057 | | | 53,909 | | | 53,950 | | | 50,189 | | (1) The dilutive shares under the as-converted method assume conversion of the Series A Preferred Stock and are presented here merely for reference. In a net income position, diluted earnings per share is determined by the more dilutive of the two-class method or the as-converted method.
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