Note 3 - Earnings (Loss) Per Common Share

12 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

3

—

EARNINGS

(LOSS)

PER COMMON SHARE

The following table presents the amounts used to compute basic and diluted earnings (loss) per common share, as well as the effect of dilutive potential common shares on weighted average shares outstanding:

(In thousands, except per share data)
	2020		2019
BASIC EARNINGS (LOSS) PER SHARE
Net income (loss)	$	9,592	$	(16,339	)
Weighted average shares outstanding during the period, net of treasury shares		26,105		25,858
Weighted average vested restricted stock units outstanding		7		36
Weighted average shares outstanding in the Deferred Compensation Plan during the period		162		215
Weighted average shares outstanding		26,274		26,109
Basic income (loss) per share	$	0.37	$	(0.63	)
DILUTED EARNINGS (LOSS) PER SHARE
Net income (loss)	$	9,592	$	(16,339	)
Weighted average shares outstanding
Basic		26,274		26,109
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		199		-
Weighted average shares outstanding		26,473		26,109
Diluted income (loss) per share	$	0.36	$	(0.63	)
Anti-dilutive securities (b)		1,957		3,556

(a) Calculative 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.

(b) Anti-dilutive securities were excluded in the computation of diluted earnings per share for the year ended June 30, 2020 because the exercise price was greater than the 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 year ended June 30, 2019, 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.