NOTE

EARNINGS PER COMMON SHARE

The following table presents the amounts used to compute basic and diluted earnings per common share, as well as the effect of dilutive potential common shares on weighted average shares outstanding (in thousands, except per share data):

	Three Months Ended
	September 30
	201 7			201 6

BASIC EARNINGS (LOSS) PER SHARE

Net income (loss)	$	(15,629	)	$	829

Weighted average shares outstanding, net of treasury shares (a)		25,505			24,998
Weighted average vested restricted stock units outstanding		41			37
Weighted average shares outstanding in the Deferred Compensation Plan		245			240
Weighted average shares outstanding		25,791			25,275

Basic earnings (loss) per share	$	(0.61	)	$	0.03

DILUTED EARNINGS (LOSS) PER SHARE

Net income (loss)	$	(15,629	)	$	829

Weighted average shares outstanding

Basic		25,791			25,275

Effect of dilutive securities (b):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		--			637

Weighted average shares outstanding (c)		25,791			25,912

Diluted earnings (loss) per share	$	(0.61	)	$	0.03

(a)

Includes shares accounted for like treasury stock.

(b)

Calculated using the “Treasury Stock” method as if dilutive securities were exercised and the funds were used to purchase common shares at the average market price during the period.

(c)

Options to

purchase

3,791,936

common shares and

1,654,450

common shares at

September 30, 2017

and

2016,

respectively, were

not

included in the computation of the

three

month period for diluted earnings (loss) per share, respectively, because the exercise price was greater than the average fair market value of the common shares.

For the

three

months ended

September 30, 2017,

the effect of dilutive securities was

not

included in the calculation of diluted earnings (loss) per share because there was a net operating loss for the period.