Note 4 - Earnings Per Common Share

6 Months Ended

Dec. 31, 2022

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
	2022		2021		2022		2021
BASIC EARNINGS PER SHARE
Net income	$	6,417	$	3,105	$	12,678	$	6,238
Weighted average shares outstanding during the period, net of treasury shares		27,005		26,625		26,890		26,589
Weighted average vested restricted stock units outstanding		117		30		81		24
Weighted average shares outstanding in the Deferred Compensation Plan during the period		956		637		903		531
Weighted average shares outstanding		28,078		27,292		27,874		27,144
Basic income per share	$	0.23	$	0.11	$	0.45	$	0.23
DILUTED EARNINGS PER SHARE
Net income	$	6,417	$	3,105	$	12,678	$	6,238
Weighted average shares outstanding:
Basic		28,078		27,292		27,874		27,144
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		1,126		775		892		751
Weighted average shares outstanding		29,204		28,067		28,766		27,895
Diluted income per share	$	0.22	$	0.11	$	0.44	$	0.22
Anti-dilutive securities (b)		85		981		452		984

(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 months ended December 31, 2022, and December 31, 2021, 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.