EARNINGS PER SHARE:

9 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE:

The Company’s basic earnings per share is calculated as net loss divided by weighted average common shares outstanding, excluding unvested outstanding restricted stock awards, RSUs and PSUs. The Company’s diluted earnings per share is calculated as net loss divided by weighted average common shares and common share equivalents outstanding, which includes shares issued under the Company’s stock-based compensation plans. Stock-based awards with exercise prices greater than the average market value of the Company’s common stock are excluded from the computation of diluted earnings per share. The Company’s diluted earnings per share would also reflect the assumed conversion under the Company’s convertible debt, if the impact was dilutive, along with the exclusion of interest expense, net of taxes. The impact of the convertible debt is excluded from the computation of diluted earnings per share when interest expense per common share obtainable upon conversion is greater than basic earnings per share.

Net loss from continuing operations available to common shareholders and net loss from continuing operations for diluted earnings per share under the if-converted method were the same for all periods presented.

Impacting the net loss available to common shareholders was a $1.5 million error related to prior periods that was recorded during the second quarter of fiscal year 2015, related to an understatement of self-insurance accruals in prior periods. Because this item was not material to the Company’s consolidated financial statements for any prior periods or the second quarter of fiscal year 2015, the Company recorded a correcting cumulative adjustment during the second quarter of fiscal year 2015. The impact of this item for the nine months ended March 31, 2015 on the Company’s Consolidated Statement of Operations increased site operating expense and net loss from continuing operations by $1.5 million.

For the three months ended March 31, 2015 and 2014, 210,023 and 142,536, respectively, and for the nine months ended March 31, 2015 and 2014, 187,959 and 124,189, respectively, of common stock equivalents of potentially dilutive common stock were excluded from the diluted earnings per share calculation due to the net loss from continuing operations.

The computation of weighted average shares outstanding, assuming dilution, excluded 1,481,206 and 1,936,388 of stock-based awards during the three months ended March 31, 2015 and 2014, respectively, and 1,176,364 and 1,712,855 of stock-based awards during the nine months ended March 31, 2015 and 2014, respectively, as they were not dilutive under the treasury stock method. The computation of weighted average shares outstanding, assuming dilution, also excluded 619,507 and 11,304,707 of shares from convertible debt as they were not dilutive for the nine months ended March 31, 2015 and 2014, respectively, and 11,316,328 as they were not dilutive for the three months ended March 31, 2014.