Note 4 - Earnings Per Common Share

3 Months Ended

Sep. 30, 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
	September 30
	2023		2022
BASIC EARNINGS PER SHARE
Net income	$	8,028	$	6,262
Weighted average shares outstanding during the period, net of treasury shares		27,738		26,730
Weighted average vested restricted stock units outstanding		82		46
Weighted average shares outstanding in the Deferred Compensation Plan during the period		937		865
Weighted average shares outstanding		28,757		27,641
Basic earnings per common share	$	0.28	$	0.23
DILUTED EARNINGS PER SHARE
Net income	$	8,028	$	6,262
Weighted average shares outstanding:
Basic		28,757		27,641
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		1,198		1,023
Weighted average shares outstanding		29,955		28,664
Diluted earnings per common share	$	0.27	$	0.22
Anti-dilutive securities (b)		-		213

(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 September 30, 2023, and September 30, 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.