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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Sales, net $ 14,197 $ 12,001 $ 25,603 $ 22,305
Cost of sales 12,171 10,671 22,178 19,756
Gross profit 2,026 1,330 3,425 2,549
Selling and administrative expenses 821 843 1,744 1,657
Operating income 1,205 487 1,681 892
Other income (expense), net        
Interest expense (109) (190) (233) (390)
Change in fair value of derivative liabilities 9
Unrealized loss on investments (31) (55)
Other income, net 6 7 27 7
Other income (expense), net (134) (183) (261) (374)
Income before income taxes 1,071 304 1,420 518
Provision for income taxes 112 58 149 113
Net income $ 959 $ 246 $ 1,271 $ 405
Basic earnings per common share (in dollars per share) $ 0.03 $ 0.01 $ 0.04 $ 0.01
Diluted earnings per common share (in dollars per share) $ 0.03 $ 0.01 $ 0.04 $ 0.01
Weighted average common shares outstanding - basic (in shares) 29,565,943 29,392,030 29,565,943 28,305,408
Add: Equivalent shares outstanding (in shares) 1,025,020 506,327 1,042,300 600,837
Weighted average common shares outstanding - diluted (in shares) 30,590,963 29,898,357 30,608,243 28,906,245