Earnings Per Share

3 Months Ended

Sep. 30, 2020

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of common and potential common shares outstanding.


	Quarter ended
	September 30,
	2020		2019
	(in thousands, except per share data)
Numerator:
Net (loss) income from continuing operations	$	(115)	$	12,291
Net loss from discontinued operations	(11,704)		(761)
Net (loss) income	$	(11,819)	$	11,530
Denominator:
Weighted-average shares, basic	25,361		25,539
Dilutive effect of share-based payments	—		78
Weighted-average shares, diluted(1)	25,361		25,617

Net (loss) income from continuing operations per common share, basic	$	(0.01)	$	0.48
Net loss from discontinued operations per common share, basic	(0.46)		(0.03)
Net (loss) income per common share, basic	$	(0.47)	$	0.45

Net (loss) income from continuing operations per common share, diluted	$	(0.01)	$	0.48
Net loss from discontinued operations per common share, diluted	(0.46)		(0.03)
Net (loss) income per common share, diluted	$	(0.47)	$	0.45

(1) The Company calculated weighted average shares of common stock in accordance with ASC 260, Earnings per Share. The Company's diluted weighted average shares for the quarter ended September 30, 2020 are the same as basic weighted average shares due to net loss from continuing operations.

For the quarters ended September 30, 2020 and 2019, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 1,063,840 and 916,875, respectively.