Note 4 - Earnings Per Common Share

6 Months Ended

Dec. 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				Six Months Ended
	December 31				December 31
	2023		2022		2023		2022
BASIC EARNINGS PER SHARE
Net income	$	5,906	$	6,417	$	13,934	$	12,678
Weighted average shares outstanding during the period, net of treasury shares		27,979		27,005		27,858		26,890
Weighted average vested restricted stock units outstanding		76		117		78		81
Weighted average shares outstanding in the Deferred Compensation Plan during the period		969		956		954		903
Weighted average shares outstanding		29,024		28,078		28,890		27,874
Basic earnings per common share	$	0.20	$	0.23	$	0.48	$	0.45
DILUTED EARNINGS PER SHARE
Net income	$	5,906	$	6,417	$	13,934	$	12,678
Weighted average shares outstanding:
Basic		29,024		28,078		28,890		27,874
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		1,019		1,126		1,059		892
Weighted average shares outstanding		30,043		29,204		29,949		28,766
Diluted earnings per common share	$	0.20	$	0.22	$	0.47	$	0.44
Anti-dilutive securities (b)		-		85		-		452

(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, 2023, and December 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.