Note 4 - Earnings Per Common Share

9 Months Ended

Mar. 31, 2023

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
	2023		2022		2023		2022
BASIC EARNINGS PER SHARE
Net income	$	4,669	$	3,618	$	17,347	$	9,856
Weighted average shares outstanding during the period, net of treasury shares		27,376		26,642		27,050		26,606
Weighted average vested restricted stock units outstanding		52		31		70		26
Weighted average shares outstanding in the Deferred Compensation Plan during the period		878		705		892		588
Weighted average shares outstanding		28,306		27,378		28,012		27,220
Basic income per share	$	0.16	$	0.13	$	0.62	$	0.36
DILUTED EARNINGS PER SHARE
Net income	$	4,669	$	3,618	$	17,347	$	9,856
Weighted average shares outstanding:
Basic		28,306		27,378		28,012		27,220
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		1,305		705		1,043		725
Weighted average shares outstanding		29,611		28,083		29,055		27,945
Diluted income per share	$	0.16	$	0.13	$	0.60	$	0.35
Anti-dilutive securities (b)		-		1,427		181		1,043

(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 March 31, 2023, and March 31, 2022, 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.