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Net (Loss) Income Per Common Share
 12 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Net (Loss) Income Per Common Share Net (Loss) Income Per Common Share 

Basic net income (loss) per common share is calculated by dividing net income (loss) attributable to the Company by the weighted average number of common shares outstanding during the periods presented. Diluted net income (loss) per common share is calculated by dividing diluted net income (loss) attributable to the Company by the weighted average number of common shares outstanding adjusted to include the effect, if dilutive, of the exercise of in-the-money stock options, unvested performance-based restricted stock units, and shares of Series A Preferred Stock, as converted, during the periods presented. The calculation of dilutive shares outstanding excludes out-of-the-money stock options (i.e., such option’s exercise prices were greater than the average market price of our common shares for the period) and unvested performance-based restricted stock units because their inclusion would be have been anti-dilutive.
The following table presents the computation of basic and diluted earnings per common share:
 
 
For the Years Ended June 30,
(In thousands, except share and per share amounts)
 
2020
 
2019
 
2018
Undistributed net (loss) income available to common stockholders
 
$
(37,462
)
 
$
(74,054
)
 
$
(18,652
)
Undistributed net (loss) income available to nonvested restricted stockholders and holders of convertible preferred stock
 
(179
)
 
(76
)
 
(17
)
Net (loss) income available to common stockholders—basic
 
$
(37,641
)
 
$
(74,130
)
 
$
(18,669
)
 
 
 
 
 
 
 
Weighted average common shares outstanding—basic
 
17,205,849

 
16,996,354

 
16,815,020

Effect of dilutive securities:
 
 
 
 
 
 
Shares issuable under stock options
 
—

 
—

 
—

Weighted average common shares outstanding—diluted
 
17,205,849

 
16,996,354

 
16,815,020

Net (loss) income per common share available to common stockholders—basic
 
$
(2.19
)
 
$
(4.36
)
 
$
(1.11
)
Net (loss) income per common share available to common stockholders—diluted
 
$
(2.19
)
 
$
(4.36
)
 
$
(1.11
)


The following table summarizes anti-dilutive securities excluded from the computation of diluted net income (loss) per common share for the periods indicated:
 
 
For the Years Ended June 30,
 
 
2020
 
2019
 
2018
Shares issuable under stock options
 
330,627

 
157,850

 
462,032

Shares issuable under convertible preferred stock
 
422,193

 
407,734

 
393,769

Shares issuable under PBRSUs
 
73,012

 
65,971

 
35,732