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Note 4 - Earnings Per Common Share
 9 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
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
  
   
2016
    
2015
    
2016
    
2015
  
                                 
BASIC EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
Net income
  $ 522     $ 393     $ 8,054     $ 3,508  
                                 
Weighted average shares outstanding
during the period, net
of treasury shares (a)
     24,807       24,203       24,648       24,149  
Weighted average vested restricted
stock units outstanding
     22       --       25       --  
Weighted average shares outstanding
in the Deferred Compensation Plan
during the period
     251       325       245       321  
Weighted average shares outstanding
     25,080       24,528       24,918       24,470  
                                 
Basic earnings per share
   $ 0.02     $ 0.02     $ 0.32     $ 0.14  
                                 
DILUTED EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
Net income
  $ 522     $ 393     $ 8,054     $ 3,508  
                                 
Weighted average shares outstanding
                                
                                 
Basic
     25,080       24,528       24,918       24,470  
                                 
Effect of dilutive securities (b):
                                
Impact of common shares to be
issued under stock option plans,
and contingently issuable shares,
if any
     620       115       576       80  
                                 
Weighted average shares
outstanding (c)
     25,700       24,643       25,494       24,550  
                                 
Diluted earnings per share
   $ 0.02     $ 0.02     $ 0.32     $ 0.14  
 
 
(a)
Includes shares accounted for as treasury stock according to accounting standards.
 
  
(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 1,032,250 common shares and 1,729,273 common shares at March 31, 2016 and 2015, respectively, and options to purchase 1,391,300 common shares and 2,272,823 common shares at March 31, 2016 and 2015, 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.