| Earnings (Loss) Per Common Share |
Note 14 — Earnings (Loss) Per Common Share
The following table summarizes the computation of basic and diluted
earnings (loss) per share:
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THREE MONTHS
ENDED
September 30,
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2016
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|
2015
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(In thousands, except share
and per share amounts)
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Loss from continuing operations, net of tax
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$ |
(2,195) |
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|
$ |
(2,040) |
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Preferred stock dividend
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|
(162) |
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|
|
(452) |
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Adjustment of preferred stock to redemption value (Note 12)
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162 |
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|
— |
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|
|
|
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|
|
|
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Net loss from continuing operations, including preferred stock
dividends and gain on redemption of preferred stock
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|
(2,195) |
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|
(2,492) |
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Net income (loss) from discontinued operations
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|
830 |
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|
(1,011) |
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Net loss attributable to common stockholders
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$ |
(1,365) |
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$ |
(3,503) |
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Basic weighted average shares outstanding
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|
|
5,836,744 |
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|
|
5,702,780 |
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Add: dilutive effects of convertible preferred stock
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|
— |
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|
|
— |
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|
|
|
|
|
|
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Diluted weighted average common shares outstanding
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|
|
5,836,744 |
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|
5,702,780 |
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|
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|
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Basic and diluted earnings (loss) per common share:
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|
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|
|
|
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Net loss from continuing operations, including preferred stock
dividends and adjustment to redemption value of preferred stock
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$(0.38) |
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|
$(0.44) |
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Net income (loss) from discontinued operations
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|
$0.14 |
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|
$(0.18) |
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Net loss attributable to common stockholders
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$(0.23) |
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|
$(0.61) |
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There is no dilutive effect on earnings (loss) per share in periods
with net losses from continuing operations. Stock options and
shares of common stock issuable upon the conversion of the Series A
Preferred Stock were not considered in the calculations of diluted
weighted average common shares outstanding, as they would be
anti-dilutive. Potentially dilutive securities excluded from the
calculation of diluted shares outstanding are as follows:
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|
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THREE MONTHS ENDED
September 30, |
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| |
|
2016
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|
|
2015
|
|
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In-the-money stock options
|
|
|
— |
|
|
|
— |
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|
Common shares issuable upon conversion of Series A Preferred
Stock
|
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|
2,834,293 |
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2,690,553 |
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Total
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2,834,293 |
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2,690,553 |
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Note 14 — Loss Per Share
The following table summarizes the computation of basic and diluted
loss per share for the fiscal years ended:
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June 30, |
|
| |
|
2016
|
|
|
2015
|
|
| |
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(In thousands, except share and
per share amounts)
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Loss from continuing operations, net of tax
|
|
$ |
(3,328) |
|
|
$ |
(21,596) |
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|
Preferred stock dividend
|
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|
(1,858) |
|
|
|
(1,740) |
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|
Adjustment of preferred stock to redemption value (Note 12)
|
|
|
4,207 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
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Net loss from continuing operations, including preferred stock
dividends and
adjustment to redemption value of preferred stock
|
|
|
(979) |
|
|
|
(23,336) |
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Net loss from discontinued operations
|
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|
(14,249) |
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|
|
(21,404) |
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Net loss attributable to common stockholders
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$ |
(15,228) |
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$ |
(44,740) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Basic weighted-average shares outstanding
|
|
|
5,746,307 |
|
|
|
5,710,288 |
|
|
Add: dilutive effects of in-the-money stock options and
convertible preferred stock (1)
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|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
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Diluted weighted-average common shares outstanding
|
|
|
5,746,307 |
|
|
|
5,710,288 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted loss per common share:
|
|
|
|
|
|
|
|
|
|
Net loss from continuing operations, including preferred stock
dividends and
adjustment to redemption value of preferred stock
|
|
|
$ (0.17) |
|
|
|
$ (4.09) |
|
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Net loss from discontinued operations
|
|
|
$ (2.48) |
|
|
|
$ (3.75) |
|
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Net loss attributable to common stockholders
|
|
|
$ (2.65) |
|
|
|
$ (7.83) |
|
| (1) |
All diluted earnings per share
calculations are dictated by the results from continuing
operations; accordingly there were no dilutive effects on earnings
per share in the periods presented since all such periods had a net
loss from continuing operations. |
There is no dilutive effect on loss per share in periods with net
losses from continuing operations. Stock options or shares of
common stock issuable upon the conversion of the Series A Preferred
Stock were not considered in the calculation of diluted weighted
average common shares outstanding, as they would be anti-dilutive.
Potentially dilutive securities excluded from the calculation of
diluted shares outstanding in fiscal years with net losses from
continuing operations are as follows:
|
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|
|
|
|
|
|
| |
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June 30, |
|
| |
|
2016
|
|
|
2015
|
|
|
In-the-money stock options
|
|
|
— |
|
|
|
27,673 |
|
|
Common shares issuable upon conversion of Series A Preferred
Stock
|
|
|
2,714,503 |
|
|
|
2,543,312 |
|
|
|
|
|
|
|
|
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|
Total
|
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|
2,714,503 |
|
|
|
2,570,985 |
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