Earnings per Common Share

12 Months Ended

Jun. 30, 2016

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 of 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:



	Years Ended
	June 30, 2016		June 30, 2015		June 30, 2014
	(In thousands, except per share data)
Basic EPS:
Net income attributable to Matrix Service Company	$	28,863	$	17,157	$	35,810
Weighted average shares outstanding	26,597		26,603		26,288
Basic EPS	$	1.09	$	0.64	$	1.36
Diluted EPS:
Weighted average shares outstanding—basic	26,597		26,603		26,288
Dilutive stock options	68		110		180
Dilutive nonvested deferred shares	435		464		508
Diluted weighted average shares	27,100		27,177		26,976
Diluted EPS	$	1.07	$	0.63	$	1.33

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



	Twelve Months Ended
	June 30, 2016	June 30, 2015	June 30, 2014
	(In thousands)
Nonvested deferred shares	56	148	—
Total antidilutive securities	56	148	—