Note 6 - Earnings (Loss) Per Share

12 Months Ended

Jun. 30, 2014

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, 2014 and 2013, 5,407,529 and 5,584,413 shares of common stock, respectively, were issuable upon the conversion or exercise of options and preferred stock. For the years ended June 30, 2014 and 2013, 272,750 and 1,850,651 shares of common stock equivalents, respectively, were 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, 2014			June 30, 2013
Numerator for basic and diluted earnings per share:
Net income from continuing operations	$	9,057,000		$	2,512,000
Payment of preferred stock dividends		(109,000	)		(109,000	)
Net income from continuing operations available to common stockholders		8,948,000			2,403,000
Loss from discontinued operations, net of tax		—			(241,000	)
Loss on disposition of discontinued operations, net of tax		(463,000	)		(370,000	)
Net income available to common stockholders	$	8,485,000		$	1,792,000
Weighted average shares used in computing basic net earnings per share:		54,210,555			53,951,438
Assumed conversion of preferred stock		2,095,784			769,630
Effect of outstanding stock options		732,722			381,368
Weighted average shares used in computing diluted net earnings per share:		57,039,061			55,102,436
Earnings (loss) per common share attributable to common stockholders – basic
Income from continuting operations per common share	$	0.17		$	0.04
Loss from discontinued operations per common share		(0.01	)		(0.01	)
Earnings per common share attributable to common shareholders – basic	$	0.16		$	0.03
Earnings (loss) per common share attributable to common stockholders – diluted
Income from continuting operations per common share	$	0.16		$	0.04
Loss from discontinued operations per common share		(0.01	)		(0.01	)
Earnings per common share attributable to common shareholders – diluted	$	0.15		$	0.03