Net Income (Loss) Per Share

9 Months Ended

Mar. 31, 2013

Net Income (Loss) Per Share

Net Income (Loss) Per Share

10.  Net Income (Loss) Per Share

Basic income (loss) per share is determined by dividing net income (loss) by the weighted average common shares outstanding during the period. Diluted income (loss) per share is determined by dividing net income (loss) by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted net income (loss) per share based on the treasury stock method.

For the three and nine months ended March 31, 2013, certain employee equity awards were anti-dilutive based on the treasury stock method. For the three and nine months ended March 31, 2012, all potential common shares were anti-dilutive due to the net loss. The calculations of basic and diluted net income (loss) per share and basic and diluted weighted average shares outstanding are as follows (dollars and shares in thousands, except per share data):

	Three Months Ended					Nine Months Ended
	March 31,					March 31,
	2013		2012			2013		2012
Net income (loss)	$	10,513	$	(520	)	$	24,863	$	(8,420	)
Weighted average shares outstanding	93,730		93,583			93,556		93,851
Dilutive impact from:
Share-based payment awards	1,670		—			1,919		—
Dilutive weighted average shares outstanding	95,400		93,583			95,475		93,851
Income (loss) per share
Basic	$	0.11	$	(0.01	)	$	0.27	$	(0.09	)
Dilutive	$	0.11	$	(0.01	)	$	0.26	$	(0.09	)

The following potential common shares were excluded from the calculation of diluted weighted average shares outstanding because their effect would be anti-dilutive at the balance sheet date (shares in thousands):

	Three Months Ended		Nine Months Ended
	March 31,		March 31,
	2013	2012	2013	2012
Employee equity awards	438	6,392	947	6,805