Basic And Diluted Loss Per Share

9 Months Ended

Mar. 31, 2015

Basic And Diluted Loss Per Share [Abstract]

Basic And Diluted Loss Per Share

6.Basic and Diluted Loss Per Share

Basic loss per share is computed by dividing the net loss by the weighted average number of shares of common stock and participating securities outstanding during the periods presented. Diluted loss per share is computed by dividing the net loss by the weighted average number of shares of common stock and participating securities outstanding plus all dilutive potential common shares that result from stock options. The weighted average common shares outstanding (in thousands) for both basic and dilutive, were 21,838 and 21,326, for the three-months ended March 31, 2015 and 2014, respectively and 21,701 and 21,195, for the nine-months ended March 31, 2015 and 2014, respectively.

The dilutive effect of stock options excludes approximately 1.18 million and 1.79 million awards for the three-months ended March 31, 2015 and 2014, respectively,  and 1.43 million and 1.81 million for the nine-months ended March 31, 2015 and 2014, respectively, for which the exercise price was higher than the average market price. In addition, there were no potentially dilutive stock options where the exercise price was lower than the average market price for the three and nine-month periods ended March 31, 2015 and 2014, respectively.