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					Six Months Ended
	December 31					December 31
	2017			2016		2017			2016

BASIC EARNINGS PER SHARE

Net (loss) income	$	(1,468	)	$	2,006	$	(17,097	)	$	2,835

Weighted average shares outstanding during the period, net of treasury shares (a)		25,551			25,016		25,528			25,007
Weighted average vested restricted stock units outstanding		63			37		52			37
Weighted average shares outstanding in the Deferred Compensation Plan during the period		244			261		244			250
Weighted average shares outstanding		25,858			25,314		25,824			25,294

Basic (loss) earnings per share	$	(0.06	)	$	0.08	$	(0.66	)	$	0.11

DILUTED EARNINGS PER SHARE

Net (loss) income	$	(1,468	)	$	2,006	$	(17,097	)	$	2,835

Weighted average shares outstanding

Basic		25,858			25,314		25,824			25,294

Effect of dilutive securities (b):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		--			489		--			565

Weighted average shares outstanding (c)		25,858			25,803		25,824			25,859

Diluted (loss) earnings per share	$	(0.06	)	$	0.08	$	(0.66	)	$	0.11

(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

3,569,762

common shares and

1,682,270

common shares for the

three

months ended

December 31, 2017

and

2016,

respectively, and options to purchase

3,549,705

common shares and

1,626,770

common shares for the

six

months ended

December 31, 2017

and

2016,

respectively were

not

included in the computation of the

three

month and

six

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

For the

three

and

six

months ended

December 31, 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.