Note 4 - Earnings Per Common Share

9 Months Ended

Mar. 31, 2015

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					Nine Months Ended
	March 31					March 31
	2015		2014			2015		2014
BASIC EARNINGS (LOSS) PER SHARE
Net income (loss)	$	393	$	(1,009	)	$	3,508	$	1,726
Weighted average shares outstanding during the period, net of treasury shares (a)		24,203		24,095			24,149		24,073
Weighted average shares outstanding in the Deferred Compensation Plan during the period		325		306			321		303
Weighted average shares outstanding		24,528		24,401			24,470		24,376
Basic earnings (loss) per share	$	0.02	$	(0.04	)	$	0.14	$	0.07
DILUTED EARNINGS (LOSS) PER SHARE
Net income (loss)	$	393	$	(1,009	)	$	3,508	$	1,726
Weighted average shares outstanding
Basic		24,528		24,401			24,470		24,376
Effect of dilutive securities (b):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		115		--			80		169
Weighted average shares outstanding (c)		24,643		24,401			24,550		24,545
Diluted earnings (loss) per share	$	0.02	$	(0.04	)	$	0.14	$	0.07

(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 1,729,273 common shares and 1,235,650 common shares at March 31, 2015 and 2014, respectively, and options to purchase 2,272,823 common shares and 1,687,650 common shares at March 31, 2015 and 2014, respectively, were not included in the computation of the three month and nine month periods for diluted earnings per share, respectively, because the exercise price was greater than the average fair market value of the common shares.