Earnings per Common Share

12 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

Basic earnings per share (“EPS”) is calculated based on the weighted average shares outstanding during the period. Diluted earnings per share includes the dilutive effect of employee and director stock options and nonvested deferred shares. Stock options are considered dilutive whenever the exercise price is less than the average market price of the stock during the period and antidilutive whenever the exercise price exceeds the average market price of the common stock during the period. Nonvested deferred shares are considered dilutive (antidilutive) whenever the average market value of the shares during the period exceeds (is less than) the sum or the related average unamortized compensation expense during the period plus the related hypothetical estimated excess tax benefit that will be realized when the shares vest. Stock options and nonvested deferred shares are considered antidilutive in the event we report a net loss.

The computation of basic and diluted EPS is as follows:

	Twelve Months Ended
	June 30, 2014		June 30, 2013		June 30, 2012
	(In thousands, except per share data)
Basic EPS:
Net income attributable to Matrix Service Company	$	35,810	$	24,008	$	17,188
Weighted average shares outstanding	26,288		25,962		25,921
Basic EPS	$	1.36	$	0.92	$	0.66
Diluted EPS:
Weighted average shares outstanding—basic	26,288		25,962		25,921
Dilutive stock options	180		81		79
Dilutive nonvested deferred shares	508		315		298
Diluted weighted average shares	26,976		26,358		26,298
Diluted EPS	$	1.33	$	0.91	$	0.65

The following securities are considered antidilutive and have been excluded from the calculation of diluted earnings per share:

	Twelve Months Ended
	June 30, 2014	June 30, 2013	June 30, 2012
	(In thousands)
Stock options	—	193	267
Nonvested deferred shares	—	2	3
Total antidilutive securities	—	195	270