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EARNINGS PER SHARE AND COMMON STOCK
 12 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE AND COMMON STOCK

13. EARNINGS PER SHARE AND COMMON STOCK

The factors used in the earnings per share computation are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

2022

 

 

2021

 

Net income from continuing operations

 

$

90,452

 

 

$

87,945

 

 

$

58,438

 

Loss from discontinued operations, net of tax

 

 

(21,515

)

 

 

(29,731

)

 

 

(2,268

)

Net income

 

$

68,937

 

 

$

58,214

 

 

$

56,170

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares — basic

 

 

17,618,797

 

 

 

18,455,226

 

 

 

18,805,464

 

Dilutive effect of assumed exercises of stock options

 

 

5,270

 

 

 

11,110

 

 

 

14,814

 

Dilutive effect of assumed restricted share awards/units

 

 

141,050

 

 

 

170,176

 

 

 

131,243

 

Weighted average outstanding shares — diluted

 

 

17,765,117

 

 

 

18,636,512

 

 

 

18,951,521

 

Basic net income (loss) per share

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

5.13

 

 

$

4.77

 

 

$

3.11

 

Discontinued operations

 

 

(1.22

)

 

 

(1.62

)

 

 

(0.12

)

Net income

 

$

3.91

 

 

$

3.15

 

 

$

2.99

 

Diluted net income (loss) per share

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

5.09

 

 

$

4.72

 

 

$

3.08

 

Discontinued operations

 

 

(1.21

)

 

 

(1.60

)

 

 

(0.12

)

Net income

 

$

3.88

 

 

$

3.12

 

 

$

2.96

 

For the years ended June 30, 2023, 2022, and 2021, an immaterial number of shares were excluded from the computation of diluted earnings per share as the effect would have been anti-dilutive.

Stock Repurchase Program

On June 24, 2021, the board of directors of the Company authorized a stock repurchase program that allows for the repurchase of up to $50.0 million of the Company’s common stock during the three-year period ending June 24, 2024. During the fiscal years ended June 30, 2023 and 2022, the Company repurchased 872,055 shares and 975,161 shares of common stock for $22.9 million and $25.5 million in cash, including related fees and expenses. We did not repurchase any common stock during fiscal 2021. As of June 30, 2023, $1.6 million remained available under the current authorization.

On July 24, 2023, the board of directors of the Company authorized a new share repurchase program under which the Company may repurchase up to $50 million of its outstanding shares of common stock. The new authorization will become effective upon the expiration of the Company's existing $50 million share repurchase authorization.