Earnings Per Share

9 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note (4) - Earnings Per Share: The Company computes earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. Shares of the Company’s common stock subject to unvested restricted stock awards and restricted stock units are considered participating securities because they contain a non-forfeitable right to cash dividends or dividend equivalents paid prior to vesting or forfeiture, if any, irrespective of whether the awards or units ultimately vest. Basic and diluted earnings per share for the nine and three months ended March 31, 2020 and 2019 are computed as follows (in thousands, except per share data):

	For the nine months ended March 31,				For the three months ended March 31,
	2020 (Unaudited)		2019 (Unaudited)		2020 (Unaudited)			2019 (Unaudited)
Net income (loss)	$	831	$	2,527	$	(12	)	$	466
Less: distributed and undistributed income (loss)        allocated to unvested restricted common stock		68		181		—			33
Net income (loss) allocated to EVI Industries, Inc. shareholders	$	763	$	2,346	$	(12	)	$	433
Weighted average shares outstanding used in basic        earnings per share		11,815		11,463		11,872			11,666
Dilutive common share equivalents		373		497		—			479
Weighted average shares outstanding used in diluted earnings per share		12,188		11,960		11,872			12,145
Basic earnings per share	$	0.06	$	0.20	$	(0.00	)	$	0.04
Diluted earnings per share (1)	$	0.06	$	0.20	$	(0.00	)	$	0.04

(1) For the three-month period ended March 31, 2020 potential common shares under the treasury stock method were anti-dilutive because the Company reported a net loss in the period.

At March 31, 2020 and 2019, other than 1,068,753 shares and 909,277 shares, respectively, of common stock subject to unvested restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding.