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Note 4 - Earnings Per Common Share
 6 Months Ended
Dec. 31, 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

December 31

   

Six Months Ended

December 31

 
   

2013

   

2012

   

2013

   

2012

 
                                 

BASIC EARNINGS PER SHARE

                               
                                 

Net income (loss)

  $ 870     $ (2,450

)

  $ 2,735     $ (620

)

                                 

Weighted average shares outstanding during the period, net of treasury shares (a)

    24,066       24,021       24,062       24,025  

Weighted average shares outstanding in the Deferred Compensation Plan during the period

    307       286       301       281  

Weighted average shares outstanding

    24,373       24,307       24,363       24,306  
                                 

Basic earnings (loss) per share

  $ 0.04     $ (0.10

)

  $ 0.11     $ (0.03

)

                                 

DILUTED EARNINGS PER SHARE

                               
                                 

Net income (loss)

  $ 870     $ (2,450

)

  $ 2,735     $ (620

)

                                 

Weighted average shares outstanding

                               
                                 

Basic

    24,373       24,307       24,363       24,306  
                                 

Effect of dilutive securities (b): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any

    254       84       167       76  
                                 

Weighted average shares outstanding (c)

    24,627       24,391       24,530       24,382  
                                 

Diluted earnings (loss) per share

  $ 0.04     $ (0.10

)

  $ 0.11     $ (0.03

)


 

(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 1,197,150 common shares and 1,896,776 common shares at December 31, 2013 and 2012, respectively, and options to purchase 1,676,650 common shares and 1,852,451 common shares at December 31, 2013 and 2012, respectively, were not included in the computation of the three month and six month, respectively, diluted earnings per share because the exercise price was greater than the average fair market value of the common shares.