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Organization and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jun. 30, 2012
Weighted Average Assumptions Used to Estimate Per Share Fair Value of Options Granted in Connection with Stock Option Plans

The per share fair value of options granted in connection with stock option plans has been estimated using the following weighted average assumptions:

 

     Employee Stock Options  
     Fiscal Years Ended June 30,  
     2012     2011  

Expected life (years)

     (a     5.7   

Risk-free interest rate

     (a     1.33 – 2.00

Volatility

     (a     34

Dividend yield

     (a     0

 

(a) The Company did not grant any options during Fiscal 2012.
Calculation of Basic and Diluted Net Income Per Common Share

We calculated basic and diluted net income per common share as follows (in thousands, except per share data):

 

     For the Years Ended June 30,  
     2012      2011  

Numerator

     

Net income

   $ 4,158       $ 5,086   

Denominator

     

Basic weighted average common shares outstanding

     6,978         7,111   

Dilutive effect of stock options

     10         7   
  

 

 

    

 

 

 

Diluted weighted average common shares outstanding

     6,988         7,118   
  

 

 

    

 

 

 

Basic net income per common share

   $ 0.60       $ 0.72   
  

 

 

    

 

 

 

Diluted net income per common share

   $ 0.59       $ 0.71