Net (Loss) Income Per Common Share

Computation of EPS for the three and nine months ended March 31, 2018 excludes the dilutive effect of 488,231 shares issuable under stock options, 36,108 PBRSUs and 383,611 shares issuable upon the assumed conversion of the outstanding Series A Preferred Stock because the Company incurred net losses in the three and nine months ended March 31, 2018 so their inclusion would be anti-dilutive.

Computation of EPS for the three and nine months ended March 31, 2017 includes the dilutive effect of 116,020 shares and 120,075 shares, respectively, issuable under stock options with exercise prices below the closing price of the Company’s common stock on the last trading day of the applicable period, but excludes the dilutive effect of 30,401 and 25,508 shares, respectively, issuable under stock options with exercise prices above the closing price of the Company’s common stock on the last trading day of the applicable period because their inclusion would be anti-dilutive.



	Three Months Ended March 31,					Nine Months Ended March 31,
(In thousands, except share and per share amounts)	2018			2017		2018			2017
Undistributed net (loss) income available to common stockholders	$	(4,033	)	$	1,592	$	(23,899	)	$	23,253
Undistributed net (loss) income available to nonvested restricted stockholders and holders of convertible preferred stock	(3		)	2		(13		)	35
Net (loss) income available to common stockholders—basic	$	(4,036	)	$	1,594	$	(23,912	)	$	23,288

Weighted average common shares outstanding—basic	16,760,145			16,605,754		16,727,624			16,584,125
Effect of dilutive securities:
Shares issuable under stock options	—			116,020		—			120,075
Shares issuable PBRSUs	—			—		—			—
Shares issuable under convertible preferred stock	—			—		—			—
Weighted average common shares outstanding—diluted	16,760,145			16,721,774		16,727,624			16,704,200
Net (loss) income per common share available to common stockholders—basic	$	(0.24	)	$	0.10	$	(1.43	)	$	1.40
Net (loss) income per common share available to common stockholders—diluted	$	(0.24	)	$	0.10	$	(1.43	)	$	1.39