Note 4 - Earnings Per Common Share

9 Months Ended

Mar. 31, 2024

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
	2024		2023		2024		2023
BASIC EARNINGS PER SHARE
Net income	$	5,375	$	4,669	$	19,309	$	17,347
Weighted average shares outstanding during the period, net of treasury shares		28,084		27,376		27,933		27,050
Weighted average vested restricted stock units outstanding		75		52		78		70
Weighted average shares outstanding in the Deferred Compensation Plan during the period		1,004		878		970		892
Weighted average shares outstanding		29,163		28,306		28,981		28,012
Basic earnings per common share	$	0.18	$	0.16	$	0.67	$	0.62
DILUTED EARNINGS PER SHARE
Net income	$	5,375	$	4,669	$	19,309	$	17,347
Weighted average shares outstanding:
Basic		29,163		28,306		28,981		28,012
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		959		1,305		1,024		1,043
Weighted average shares outstanding		30,122		29,611		30,005		29,055
Diluted earnings per common share	$	0.18	$	0.16	$	0.64	$	0.60
Anti-dilutive securities (b)		3		-		10		181

(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, 2024, and March 31, 2023, 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.