Note 6 - Earnings (Loss) Per Share

12 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

6. Earnings (Loss) Per Share

Basic earnings (loss) per common share is computed by dividing net earnings (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Such outstanding shares include those issued through equity compensation plans, Board compensation, and the exercise of stock warrants. Diluted earnings (loss) per common share include the potential dilution that would occur from common shares issuable upon the exercise of outstanding stock options and warrants and the conversion of preferred stock. As of June 30, 2013 and 2012, 5,584,413 and 5,577,684 shares of common stock, respectively, were issuable upon the conversion or exercise of options and preferred stock. For the years ended June 30, 2013 and 2012, there were 1,850,651 and 1,427,860 shares of common stock equivalents, respectively, excluded from the computation of diluted earnings per share because their effect would have been antidilutive. The following summarizes the computations of basic and diluted earnings per common share:

	Years ended
	June 30, 2013			June 30, 2012
Numerator for basic and diluted earnings per share:
Net income from continuing operations	$	2,512,000		$	8,273,000
Income (loss) from discontinued operations, net of tax		(241,000	)		92,000
Loss on disposition of discontinued operations, net of tax		(370,000	)		—
Net income		1,901,000			8,365,000
Net income from continuing operations		2,512,000			8,273,000
Payment of preferred stock dividends		(109,000	)		(137,000	)
Net income from continuing operations available to common stockholders	$	2,403,000		$	8,136,000
Weighted average shares used in computing basic net earnings per share:		53,951,438			52,625,538
Assumed conversion of preferred stock		769,630			2,095,784
Effect of outstanding stock options		381,368			179,609
Weighted average shares used in computing diluted net earnings per share:		55,102,436			54,900,931
Earnings per common share from continuing operations, basic	$	0.04		$	0.16
Earnings (loss) per common share from discontinued operations, basic		(0.01	)		—
Earnings per common share, basic	$	0.03		$	0.16
Earnings per common share from continuing operations, basic	$	0.04		$	0.15
Earnings (loss) per common share from discontinued operations, basic		(0.01	)		—
Earnings per common share, diluted	$	0.03		$	0.15