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Note Q - Earnings Per Share
 12 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Earnings Per Share [Text Block]
Q
.
EARNINGS PER SHARE
 
The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period.  The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect.  Restricted stock award recipients have a non-forfeitable right to receive dividends declared by the Company, and are therefore included in computing earnings per share pursuant to the
two
-class method. 
 
The components of basic and diluted earnings per share were as follows:
 
   
2018
    
2017
    
2016
  
Basic:
  
 
 
 
  
 
 
 
  
 
 
 
Net income (loss)
   $
9,647
     $
(6,115
 )   $
(13,013
 )
Less: Net earnings attributable to noncontrolling interest
    
(119
 )    
(179
 )    
(91
 )
Less: Undistributed earnings attributable to unvested shares
    
(222
 )    
-
      
-
  
Net income (loss) available to Twin Disc shareholders
    
9,306
      
(6,294
 )    
(13,104
 )
                         
Weighted average shares outstanding - basic
    
11,295
      
11,239
      
11,203
  
                         
Basic Income (Loss) Per Share:
  
 
 
 
  
 
 
 
  
 
 
 
Net income (loss) per share - basic
  
$
0.82
   
$
(0.56
)
  
$
(1.17
)
                         
Diluted:
  
 
 
 
  
 
 
 
  
 
 
 
Net income (loss)
   $
9,647
     $
(6,115
 )   $
(13,013
 )
Less: Net earnings attributable to noncontrolling interest
    
(119
 )    
(179
 )    
(91
 )
Less: Undistributed earnings attributable to unvested shares
    
(222
 )    
-
      
-
  
Net income (loss) available to Twin Disc shareholders
    
9,306
      
(6,294
 )    
(13,104
 )
                         
Weighted average shares outstanding - basic
    
11,295
      
11,239
      
11,203
  
Effect of dilutive stock awards
    
100
      
-
      
-
  
Weighted average shares outstanding - diluted
    
11,395
      
11,239
      
11,203
  
                         
Diluted Income (Loss) Per Share:
  
 
 
 
  
 
 
 
  
 
 
 
Net income (loss) per share - diluted
  
$
0.82
   
$
(0.56
)
  
$
(1.17
)
 
 
The following potential common shares were excluded from diluted EPS for the year ended
June 30, 2018
because they were anti-dilutive:
61.3
related to the Company’s unvested PSAs,
237.7
related to the Company’s unvested RS awards, and
3.6
related to outstanding stock options.
 
The following potential common shares were excluded from diluted EPS for the year ended
June 30, 2017
because they were anti-dilutive:
170.1
related to the Company’s unvested PSAs,
269.6
related to the Company’s unvested RS awards, and
13.2
related to outstanding stock options.
 
The following potential common shares were excluded from diluted EPS for the year ended
June 30, 2016
because they were anti-dilutive:
72.2
related to the Company’s unvested PSAs,
143.0
related to the Company’s unvested RS awards, and
16.8
related to outstanding stock options.