Note 15 - Earnings Per Share

9 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

(15) Earnings Per Share

The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share (“EPS”):

	Three months ended				Nine months ended
	March 31,				March 31,
(in thousands, except per share data)	2024		2023		2024		2023
Numerator (basic and diluted):
Net income available to common Shareholders	$	12,953	$	22,356	$	45,303	$	80,402
Denominator:
Basic weighted average shares common shares outstanding		25,531		25,477		25,520		25,470
Dilutive effect of stock options and other share-based awards (1)		119		122		112		110
Diluted weighted average shares common shares outstanding		25,650		25,599		25,632		25,580
Earnings per share:
Basic	$	0.51	$	0.88	$	1.78	$	3.16
Diluted	$	0.50	$	0.87	$	1.77	$	3.14

(1) Dilutive potential common shares consist of stock options, restricted stock units and performance units.

As of March 31, 2024 and 2023, total share-based awards of 20,088 and 43,060, respectively, were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive.

As of March 31, 2024 and 2023, the number of performance units excluded from the calculation of diluted EPS were 165,176 and 176,496, respectively. Contingently issuable shares with performance conditions are evaluated for inclusion in diluted EPS if, at the end of the current period, conditions would be satisfied as if it were the end of the contingency period.