13. Net (Loss) Income Per Share Data

Basic net (loss) income per common share is calculated by dividing net (loss) income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the weighted average number of common and dilutive common equivalent shares outstanding during the period. The Company’s potentially dilutive common shares are those that result from dilutive common stock options, non-vested stock relating to restricted stock awards, restricted stock units, deferred stock units and performance shares. Options to purchase common stock as well as unvested restricted stock and performance stock units are considered to be potentially dilutive common shares, but have been excluded from the calculation of diluted net loss per share as their effect is antidilutive for the three and nine months ended June 30, 2018 as a result of the net losses incurred for those periods. Therefore, diluted weighted average number of shares outstanding and diluted net loss per share were the same as basic weighted average number of shares outstanding and net loss per share for both the three and nine months ended June 30, 2018. The calculation of weighted average diluted shares outstanding excludes outstanding stock options associated with the right to purchase less than 0.1 million shares of common stock for the both the three and nine months ended June 30, 2017, as their inclusion would have had an antidilutive effect on diluted net income per share.

The following table sets forth the denominator for the computation of basic and diluted net (loss) income per share (in thousands):

	Three Months Ended					Nine Months Ended
	June 30,					June 30,
	2018			2017		2018			2017
Net income (loss) available to common shareholders	$	(2,682	)	$	720	$	(2,704	)	$	3,526
Basic weighted average shares outstanding		13,203			13,155		13,117			13,190
Dilutive effect of outstanding stock options, non-vested restricted stock, restricted stock units, deferred stock units and performance shares		—			230		—			214
Diluted weighted average shares outstanding		13,203			13,385		13,117			13,404

The Company’s Board of Directors has authorized the repurchase of up to $25.3 million of the Company’s outstanding common stock. This authorization does not have an expiration date.