Note 4 - Earnings Per Common Share

3 Months Ended

Sep. 30, 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
	September 30
	2015		2014
BASIC EARNINGS PER SHARE
Net income	$	3,750	$	1,527
Weighted average shares outstanding, net of treasury shares (a)		24,501		24,122
Weighted average vested restricted stock units outstanding		27		--
Weighted average shares outstanding in the Deferred Compensation Plan		236		314
Weighted average shares outstanding		24,764		24,436
Basic earnings per share	$	0.15	$	0.06
DILUTED EARNINGS PER SHARE
Net income	$	3,750	$	1,527
Weighted average shares outstanding
Basic		24,764		24,436
Effect of dilutive securities (b):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		430		72
Weighted average shares outstanding (c)		25,194		24,508
Diluted earnings per share	$	0.15	$	0.06

(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 1,683,500 common shares and 2,168,025 common shares at September 30, 2015 and 2014, respectively, were not included in the computation of the three month period for diluted earnings per share, respectively, because the exercise price was greater than the average fair market value of the common shares.