Earnings per Common Share

12 Months Ended

Jun. 30, 2017

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, 2017			June 30, 2016		June 30, 2015
	(In thousands, except per share data)
Basic EPS:
Net income (loss) attributable to Matrix Service Company	$	(183	)	$	28,863	$	17,157
Weighted average shares outstanding	26,533			26,597		26,603
Basic earnings (loss) per share	$	(0.01	)	$	1.09	$	0.64
Diluted EPS:
Weighted average shares outstanding—basic	26,533			26,597		26,603
Dilutive stock options	—			68		110
Dilutive nonvested deferred shares	—			435		464
Diluted weighted average shares	26,533			27,100		27,177
Diluted earnings (loss) per share	$	(0.01	)	$	1.07	$	0.63

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



	Twelve Months Ended
	June 30, 2017	June 30, 2016	June 30, 2015
	(In thousands)
Stock options	43	—	—
Nonvested deferred shares	430	56	148
Total antidilutive securities	473	56	148