Note 5 - Earnings Per Common Share

6 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 5 - 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
	2021		2020		2021		2020
BASIC EARNINGS PER SHARE
Net income	$	3,105	$	2,208	$	6,238	$	4,198
Weighted average shares outstanding during the period, net of treasury shares		26,625		26,367		26,589		26,343
Weighted average vested restricted stock units outstanding		30		20		24		15
Weighted average shares outstanding in the Deferred Compensation Plan during the period		637		252		531		222
Weighted average shares outstanding		27,292		26,639		27,144		26,580
Basic income per share	$	0.11	$	0.08	$	0.23	$	0.16
DILUTED EARNINGS PER SHARE
Net income	$	3,105	$	2,208	$	6,238	$	4,198
Weighted average shares outstanding:
Basic		27,292		26,639		27,144		26,580
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		775		721		751		581
Weighted average shares outstanding		28,067		27,360		27,895		27,161
Diluted income per share	$	0.11	$	0.08	$	0.22	$	0.15
Anti-dilutive securities (b)		981		1,062		984		1,101

(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 six months ended December 31, 2021 and December 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.