Basic And Diluted Net Income (Loss) Per Share

3 Months Ended

Sep. 30, 2012

Basic And Diluted Net Income (Loss) Per Share [Abstract]

Basic And Diluted Net Income (Loss) Per Share

3. Basic and Diluted Net Income (Loss) per Share

     Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during each period. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares including dilutive common share equivalents. Under the treasury stock method, incremental shares representing the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued are included in the computation. Diluted earnings per common share assumes exercise of outstanding stock options and vesting of restricted stock when the effects of such assumptions are dilutive. Common share equivalents of 290,000 and 865,000 for the three months ended September 30, 2012 and 2011, respectively, were excluded from the calculation as their effect was antidilutive.

     The following table presents a reconciliation of the numerators and denominators of basic and diluted net loss per share for the periods indicated (dollars and share data in thousands, except per-share amounts):

		Three Months Ended
		September 30,
		2012			2011
Basic and diluted earnings per share (EPS) calculation:
Net income (loss)	$	325	$	(2,600		)
Basic weighted average number of shares outstanding		8,683			8,488
Effect of dilutive securities:
Restricted stock		118			-
Diluted weighted average number of shares outstanding		8,801			8,488
Basic EPS	$	0.04		$	(0.31	)
Diluted EPS	$	0.04		$	(0.31	)