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Note 4 - Earnings Per Common Share
 9 Months Ended
Mar. 31, 2014
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

March 31

   

Nine Months Ended

March 31

 
   

2014

   

2013

   

2014

   

2013

 
                                 

BASIC EARNINGS PER SHARE

                               
                                 

Net income (loss)

  $ (1,009

)

  $ (315

)

  $ 1,726     $ (935

)

                                 

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

    24,095       24,025       24,073       24,025  

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

    306       287       303       283  

Weighted average shares outstanding

    24,401       24,312       24,376       24,308  
                                 

Basic earnings (loss) per share

  $ (0.04

)

  $ (0.01

)

  $ 0.07     $ (0.04

)

                                 

DILUTED EARNINGS PER SHARE

                               
                                 

Net income (loss)

  $ (1,009

)

  $ (315

)

  $ 1,726     $ (935

)

                                 

Weighted average shares outstanding

                               
                                 

Basic

    24,401       24,312       24,376       24,308  
                                 

Effect of dilutive securities (b):

                               

Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any

    208       98       169       64  
                                 

Weighted average shares outstanding (c)

    24,609       24,410       24,545       24,372  
                                 

Diluted earnings (loss) per share

  $ (0.04

)

  $ (0.01

)

  $ 0.07     $ (0.04

)


  

(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 1,235,650 common shares and 1,842,075 common shares at March 31, 2014 and 2013, respectively, and options to purchase 1,687,650 common shares and 2,058,075 common shares at March 31, 2014 and 2013, respectively, were not included in the computation of the three month and nine month periods, respectively, diluted earnings per share because the exercise price was greater than the average fair market value of the common shares.