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Earnings Per Share
 6 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE
Basic earnings per share (“EPS”) is computed using the weighted average number of shares outstanding during a given period. The Company uses the treasury stock method to compute diluted EPS, which assumes that restricted stock units are converted into common stock and that outstanding stock options are exercised and the resulting proceeds are used to acquire shares of common stock at its average market price during the reporting period.
Basic and diluted EPS were calculated as follows (in thousands, except per share amounts):
 
For the Three Months Ended December 31,
 
For the Six Months Ended December 31,
 
2013
 
2012
 
2013
 
2012
Net income (loss)
$
1,089

 
$
31,144

 
$
(8,426
)
 
$
18,051

Weighted average number of shares outstanding:
 
 
 
 
 
 
 
Basic
125,450

 
124,560

 
125,053

 
124,519

Effect of stock-based awards
5,560

 
202

 
—

 
101

Diluted
131,010

 
124,762

 
125,053

 
124,620

Earnings (loss) per share
 
 
 
 
 
 
 
Basic
$
0.01

 
$
0.25

 
$
(0.07
)
 
$
0.14

Diluted
$
0.01

 
$
0.25

 
$
(0.07
)
 
$
0.14

Because the effect of applying the treasury stock method would have been antidilutive, the Company excluded time-based options to purchase approximately 1.5 million shares of common stock and 0.6 million restricted stock units outstanding at December 31, 2013 from the computation of diluted EPS in the current quarter and approximately 9.7 million shares of common stock outstanding at December 31, 2012 from the computation of diluted EPS for the three and six months ended December 31, 2012. All outstanding stock options and restricted stock units were excluded from the computation of diluted EPS for the six months ended December 31, 2013 because the Company recorded a net loss.