EARNINGS PER SHARE

12 Months Ended

Jun. 30, 2021

12. EARNINGS PER SHARE

The factors used in the earnings per share computation are as follows:

	2021		2020			2019
Net income (loss)	$	56,170	$	(24,047	)	$	21,354
Weighted average shares — basic		18,805,464		18,734,482			18,653,892
Dilutive effect of assumed exercises of stock options		14,814		—			45,799
Dilutive effect of assumed restricted share awards/units		131,243		—			68,516
Weighted average outstanding shares — diluted		18,951,521		18,734,482			18,768,207
Basic net income (loss) per share	$	2.99	$	(1.28	)	$	1.14
Diluted net income (loss) per share	$	2.96	$	(1.28	)	$	1.14

For the year ended June 30, 2021, an immaterial number of shares were excluded from the computation of diluted earning per share as the effect would have been anti-dilutive. For the year ended June 30, 2020, the dilutive effect of approximately 45,000 outstanding RSAs, PSUs and NSOs have been excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive because of the net loss for the year ended June 30, 2020. For the year ended June 30, 2019, an immaterial number of shares were excluded from the computation of diluted earnings per share as the effect would have been anti-dilutive.