Note 4 - Earnings Per Common Share

3 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 4 — EARNINGS PER COMMON SHARE

The following table presents the amounts used to compute basic and diluted earnings per common share, as well as the effect of dilutive potential common shares on weighted average shares outstanding (in thousands, except per share data):

	Three Months Ended September 30
	2013		2012
BASIC EARNINGS PER SHARE
Net income	$	1,865	$	1,830
Weighted average shares outstanding during the period, net of treasury shares (a)		24,057		24,028
Weighted average shares outstanding in the Deferred Compensation Plan during the period		296		276
Weighted average shares outstanding		24,353		24,304
Basic earnings per share	$	0.08	$	0.08
DILUTED EARNINGS PER SHARE
Net income	$	1,865	$	1,830
Weighted average shares outstanding
Basic		24,353		24,304
Effect of dilutive securities (b):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		134		69
Weighted average shares outstanding (c)		24,487		24,373
Diluted earnings per share	$	0.08	$	0.08

(a) Includes shares accounted for like treasury stock in accordance with Accounting Standards Codification Topic 710, Compensation - General.

(b) Calculated using the “Treasury Stock” method as if dilutive securities were exercised and the funds were used to purchase common shares at the average market price during the period.

(c) Options to purchase 2,184,025 common shares and 1,838,650 common shares at September 30, 2013 and 2012, respectively, were not included in the computation of diluted earnings per share because the exercise price was greater than the average fair market value of the common shares.