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Share-based Compensation (Tables)
6 Months Ended
Dec. 31, 2019
Share-based Compensation  
Schedule of weighted average assumptions

 

 

 

 

 

 

 

 

 

 

Six Months Ended

    

 

 

December 31, 

 

December 31, 

 

 

    

2019

    

2018

 

Risk-free interest rate

 

 

1.9

%

 

2.9

%

Expected volatility

 

 

73.7

%

 

58.4

%

Expected dividend yield

 

 

 —

 

 

 —

 

Forfeiture rate

 

 

6.5

%

 

6.5

%

Expected term

 

 

5.1

years

 

5.3

years

Weighted average fair value

 

$

4.04

 

$

6.52

 

 

Summary of stock option award activity

 

 

 

 

 

 

 

 

 

 

 

 

    

    

    

 

 

    

 

 

    

Weighted

 

 

 

 

Weighted-

 

 

 

 

Average

 

 

 

 

Average

 

Aggregate

 

Remaining

 

 

 

 

Exercise

 

Intrinsic

 

Contractual

(In thousands, except for weighted average price and life data)

    

Awards

    

Price

    

Value

    

Life (yrs.)

Outstanding at June 30, 2019

 

572

 

17.56

 

$

273

 

5.0

Granted

 

522

 

6.57

 

 

 

 

 

Exercised

 

(50)

 

5.60

 

$

210

 

 

Forfeited, expired or repurchased

 

(32)

 

24.86

 

 

 

 

 

Outstanding at December 31, 2019

 

1,012

 

12.24

 

$

1,685

 

7.3

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at December 31, 2019

 

1,009

 

12.23

 

$

1,685

 

7.3

Exercisable at December 31, 2019

 

504

 

16.74

 

$

682

 

5.1

 

Summary of non-vested restricted stock awards

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average Grant -

 

Aggregate

(In thousands, except for weighted average price data)

    

Awards

    

date Fair Value

    

Intrinsic Value

Non-vested at June 30, 2019

 

1,288

 

$

11.63

 

 

 

Granted

 

936

 

 

6.44

 

 

 

Vested

 

(735)

 

 

10.28

 

$

6,096

Forfeited

 

(46)

 

 

13.49

 

 

 

Non-vested at December 31, 2019

 

1,443

 

$

8.90

 

 

 

 

Schedule of non-vested performance-based shares

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average Grant -

 

Aggregate

(In thousands, except for weighted average price and life data)

    

Awards

    

date Fair Value

    

Intrinsic Value

Non-vested at June 30, 2019

 

72

 

$

19.92

 

 

  

Granted

 

178

 

$

10.71

 

 

  

Vested

 

(46)

 

$

15.08

 

$

477

Forfeited

 

 —

 

$

 —

 

 

  

Non-vested at December 31, 2019

 

204

 

$

12.99

 

 

  

 

Schedule of allocation of share-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

December 31, 

 

December 31, 

 

(In thousands)

    

2019

    

2018

    

2019

    

2018

 

Selling, general and administrative expenses

 

$

1,205

 

$

1,095

 

$

4,840

 

$

3,309

 

Research and development expenses

 

 

214

 

 

199

 

 

438

 

 

400

 

Cost of sales

 

 

588

 

 

655

 

 

1,188

 

 

1,276

 

Total

 

$

2,007

 

$

1,949

 

$

6,466

 

$

4,985

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax benefit at statutory rate

 

$

452

 

$

439

 

$

1,455

 

$

1,122