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EARNINGS PER SHARE
 9 Months Ended
Mar. 31, 2017
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
NOTE 8 - EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) by the weighted average number of common shares after considering the additional dilution related to common stock options and restricted stock. In computing diluted earnings per share, the outstanding common stock options are considered dilutive using the treasury stock method.

The Company’s restricted stock awards and escrow shares that were issued in connection with the Citiwaste acquisition are treated as outstanding for earnings per share calculations since these shares have full voting rights and are entitled to participate in dividends declared on common shares, if any, and undistributed earnings. As participating securities, the shares of restricted stock are included in the calculation of basic EPS using the two-class method. For the periods presented, the amount of earnings allocated to the participating securities was not material.

The following information is necessary to calculate earnings per share for the periods presented (in thousands, except per-share data):
 
  
Three-Months Ended
March 31,
  
Nine-Months Ended
March 31,
 
  
2017
  
2016
  
2017
  
2016
 
             
Net loss, as reported
 
$
(668
)
 
$
(1,042
)
 
$
(1,862
)
 
$
(207
)
                 
Weighted average common shares outstanding
  
15,994
   
15,462
   
15,930
   
15,449
 
                 
Net loss per common share
                
Basic and diluted
 
$
(0.04
)
 
$
(0.07
)
 
$
(0.12
)
 
$
(0.01
)
                 
Employee stock options excluded from computation of dilutive income per share amounts because their effect would be anti-dilutive
  
269
   
137
   
304
   
96