Note 4 - Earnings Per Common Share

9 Months Ended

Mar. 31, 2021

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				Nine Months Ended
	March 31				March 31
	2021		2020		2021		2020
BASIC EARNINGS PER SHARE
Net income	$	1,472	$	1,861	$	5,670	$	8,079
Weighted average shares outstanding during the period, net of treasury shares		26,467		26,151		26,384		26,087
Weighted average vested restricted stock units outstanding		20		6		16		7
Weighted average shares outstanding in the Deferred Compensation Plan during the period		284		144		242		156
Weighted average shares outstanding		26,771		26,301		26,642		26,250
Basic income per share	$	0.05	$	0.07	$	0.21	$	0.31
DILUTED EARNINGS PER SHARE
Net income	$	1,472	$	1,861	$	5,670	$	8,079
Weighted average shares outstanding:
Basic		26,771		26,301		26,642		26,250
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		956		322		710		173
Weighted average shares outstanding		27,727		26,623		27,352		26,423
Diluted income per share	$	0.05	$	0.07	$	0.21	$	0.31
Anti-dilutive securities (b)		654		1,875		1,017		2,038

(a) 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.

(b) Anti-dilutive securities were excluded from the computation of diluted net income per share for the three and nine months ended March 31, 2021 and March 31, 2020 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.