EARNINGS PER SHARE:

9 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE:

The Company’s basic earnings per share is calculated as net income (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 income 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 price of the Company’s common stock are excluded from the computation of diluted earnings per share.

For the three months ended March 31, 2017 and 2016, 492,524 and 587,992, respectively, and for the nine months ended March 31, 2017 and 2016, 547,171 and 497,715, 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 2,239,467 and 2,075,264 of stock-based awards during the three months ended March 31, 2017 and 2016, respectively, and 2,317,889 and 2,166,338 of stock-based awards during the nine months ended March 31, 2017 and 2016, respectively, as they were not dilutive under the treasury stock method.