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Earnings Per Share
 12 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
3.
EARNINGS PER SHARE
Basic earnings per share (“EPS”) is computed using the weighted average number of shares outstanding during the period. The Company uses the treasury stock method to compute diluted EPS, which assumes that restricted stock units were converted into common stock and that outstanding stock options that are in-the-money were exercised and the resulting proceeds (which includes unrecognized compensation expense and excess tax benefits) were 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 Fiscal Year Ended June 30,
 
2014
 
2013
 
2012
Net loss
$
(663,917
)
 
$
(244,390
)
 
$
(1,433,570
)
Weighted average number of shares outstanding:
 
 
 
 
 
Basic
125,504

 
124,560

 
126,659

Effect of stock-based awards
—

 
—

 
—

Diluted
125,504

 
124,560

 
126,659

Loss per share:
 
 
 
 
 
Basic
$
(5.29
)
 
$
(1.96
)
 
$
(11.32
)
Diluted
$
(5.29
)
 
$
(1.96
)
 
$
(11.32
)

All outstanding time-based stock options and restricted stock units were excluded from the computation of diluted EPS for the fiscal years ended June 30, 2014, 2013 and 2012 because the Company recorded a net loss, which made all awards anti-dilutive.