Note 4 - Earnings Per Share

12 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 4 — EARNINGS PER 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)
BASIC EARNINGS PER SHARE	2022		2021
Net Income	$	15,032	$	5,868
Weighted average shares outstanding during the period, net of treasury shares		26,618		26,411
Weighted average vested restricted stock units outstanding		30		17
Weighted average shares outstanding in the Deferred Compensation Plan  during the period		638		264
Weighted average shares outstanding		27,286		26,692
Basic income per share	$	0.55	$	0.22
DILUTED EARNINGS PER SHARE
Net Income	$	15,032	$	5,868
Weighted average shares outstanding
Basic		27,286		26,692
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and Contingently issuable shares, if any		707		748
Weighted average shares outstanding		27,993		27,440
Diluted income per share	$	0.54	$	0.21
Anti-dilutive securities (b)		1,100		976

(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 in the computation of diluted earnings per share for the year ended June 30, 2022, and June 30, 2021, 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.