Earnings per Common Share

12 Months Ended

Jun. 30, 2015

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, 2015		June 30, 2014		June 30, 2013
	(In thousands, except per share data)
Basic EPS:
Net income attributable to Matrix Service Company	$	17,157	$	35,810	$	24,008
Weighted average shares outstanding	26,603		26,288		25,962
Basic EPS	$	0.64	$	1.36	$	0.92
Diluted EPS:
Weighted average shares outstanding—basic	26,603		26,288		25,962
Dilutive stock options	110		180		81
Dilutive nonvested deferred shares	464		508		315
Diluted weighted average shares	27,177		26,976		26,358
Diluted EPS	$	0.63	$	1.33	$	0.91

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



	Twelve Months Ended
	June 30, 2015	June 30, 2014	June 30, 2013
	(In thousands)
Stock options	—	—	193
Nonvested deferred shares	148	—	2
Total antidilutive securities	148	—	195