Calculation of basic and diluted net income for each period (Tables)

6 Months Ended

Nov. 30, 2013

Calculation of basic and diluted net income for each period (Tables):

Calculation of basic and diluted net income for each period

The following table details the derivation of weighted average shares outstanding used in the calculation of basic and diluted net income (loss) for each period:

		For the Three Months Ended
		November 30, 2013		November 30, 2012
		(amounts in thousands)
Net income (loss) available to common shareholders	$	(44)	$	252
Weighted average number of common shares outstanding
used in calculation of basic earnings per share		875,135		995,468
Incremental shares from the assumed exercise of
dilutive stock options		-		2,283
Weighted average number of common shares
outstanding used in calculating diluted earnings
per share		875,135		997,751

		For the Six Months Ended
		November 30, 2013		November 30, 2012
		(amounts in thousands)
Net income (loss) available to common shareholders	$	(310)	$	425
Weighted average number of common shares outstanding
used in calculation of basic earnings per share		888,140		995,295
Incremental shares from the assumed exercise of
dilutive stock options		-		1,277
Weighted average number of common shares
outstanding used in calculating diluted earnings
per share		888,140		996,572