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Note 4 - Earnings Per Common Share
6 Months Ended
Dec. 31, 2019
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
   
Six Months Ended
 
   
December 31
   
December 31
 
   
2019
   
2018
   
2019
   
2018
 
                                 
BASIC EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
Net income (loss)
  $
1,743
    $
(15,782
)   $
6,218
    $
(14,033
)
                                 
Weighted average shares outstanding during the period, net of treasury shares (a)
   
26,101
     
25,838
     
26,063
     
25,795
 
Weighted average vested restricted stock units outstanding
   
39
     
33
     
31
     
43
 
Weighted average shares outstanding in the Deferred Compensation Plan during the period
   
140
     
212
     
163
     
220
 
Weighted average shares outstanding
   
26,280
     
26,083
     
26,257
     
26,058
 
                                 
Basic income (loss) per share
  $
0.07
    $
(0.61
)   $
0.24
    $
(0.54
)
                                 
                                 
DILUTED EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
Net income (loss)
  $
1,743
    $
(15,782
)   $
6,218
    $
(14,033
)
                                 
Weighted average shares outstanding
                               
                                 
Basic
   
26,280
     
26,083
     
26,257
     
26,058
 
                                 
Effect of dilutive securities (b):
                               
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any
   
254
     
-
     
107
     
-
 
Weighted average shares outstanding
   
26,534
     
26,083
     
26,364
     
26,058
 
                                 
Diluted income (loss) per share
  $
0.07
    $
(0.61
)   $
0.24
    $
(0.54
)
                                 
                                 
Anti-dilutive securities (c)
   
1,904
     
3,537
     
2,506
     
3,356
 
 
 
(a)
Includes shares accounted for like treasury stock.
 
 
(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)
Anti-dilutive securities were excluded from the computation of diluted net income per share for the
three
and
six
months ended
December 31, 2019
because the exercise price was greater than the average fair market price of the common shares or because the assumed proceeds from the award’s exercise or vesting was greater than the average fair market price of the common shares. For the
three
 and
six
months ended
December 31, 2018,
the effect of dilutive securities was
not
included in the calculation of diluted loss per share because there was a net loss for the period.