EARNINGS PER SHARE

6 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 8 - EARNINGS PER SHARE

Earnings per share are measured at two levels: basic per share and diluted per share. Basic per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted per share is computed by dividing net income by the weighted average number of common shares after considering the additional dilution related to common stock options and restricted stock. In computing diluted earnings per share, the outstanding common stock options are considered dilutive using the treasury stock method. Vested restricted shares are included in basic common shares outstanding, and unvested restricted shares are included in the diluted common shares outstanding, if the effect is dilutive.

The following information is necessary to calculate earnings per share for the periods presented (in thousands, except per-share data):

	Three-Months Ended					Six-Months Ended
	December 31,					December 31,
	2011		2010			2011			2010
	(Unaudited)					(Unaudited)
Net income (loss), as reported	$	28	$	(807	)	$	(297	)	$	(1,604	)
Weighted average common shares outstanding		15,077		14,920			15,071			14,914
Effect of dilutive stock options		327		-			-			-
Weighted average diluted common shares outstanding		15,404		14,920			15,071			14,914
Net income (loss) per common share
Basic	$	0.00	$	(0.05	)	$	(0.02	)	$	(0.11	)
Diluted	$	0.00	$	(0.05	)	$	(0.02	)	$	(0.11	)
Employee stock options excluded from computation
of dilutive income per share amounts because their
effect would be anti-dilutive		513		412			538			412