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Earnings Per Share
 3 Months Ended
Sep. 29, 2019
Earnings Per Share [Abstract]  
Earnings Per Share Earnings (Loss) Per Share
    
The Company computes earnings (loss) per share using the two-class method, an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. The Company’s unvested grants of restricted stock, restricted stock units, and deferred stock awards contain non-forfeitable rights to dividends (whether paid or unpaid), which are required to be treated as participating securities and included in the computation of basic earnings (loss) per share.

Information on earnings (loss) per share is as follows (in thousands, except per share data):
 
 
Three Months Ended
 
 
September 29,
2019
 
September 30,
2018
Net Income (Loss)
 
$
(33,637
)
 
$
(40,986
)
Less: Allocation to Participating Securities
 
(63
)
 
(154
)
Net Income (Loss)
 Available to Common Shareholders
 
$
(33,700
)
 
$
(41,140
)
Average Shares of Common Stock Outstanding
 
41,603

 
41,858

Shares Used in Calculating Diluted Earnings (Loss) Per Share
 
41,603

 
41,858

Basic Earnings (Loss) Per Share
 
$
(0.81
)
 
$
(0.98
)
Diluted Earnings (Loss) Per Share
 
$
(0.81
)
 
$
(0.98
)


The dilutive effect of the potential exercise of outstanding stock-based awards to acquire common shares is calculated using the treasury stock method.

As a result of the Company incurring a net loss for the three months ended September 29, 2019, potential incremental common shares of 489,185, respectively, were excluded from the calculation of diluted earnings (loss) per share because the effect would have been anti-dilutive.

On April 25, 2018, the Board of Directors authorized up to $50 million in funds for use in the common share repurchase program with an expiration date of June 30, 2020. As of September 29, 2019, the total remaining authorization was approximately $38.1 million. The common share repurchase program authorizes the purchase of shares of the Company's common stock on the open market or in private transactions from time to time, depending on market conditions and certain governing debt covenants. During the three months ended September 29, 2019, the Company repurchased no shares on the open market, as compared to 282,126 shares purchased on the open market at an average price of $18.02 per share during the three months ended September 30, 2018.