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EARNINGS PER SHARE
3 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings 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.

The following information is necessary to calculate earnings per share for the periods presented (in thousands, except per-share data):
 
 
Three-Months Ended
September 30,
 
 
 
2018
 
2017
 
Net income, as reported
 
$
70

 
$
75

 
 
 
 
 
 
 
Weighted average common shares outstanding
 
16,082

 
16,008

 
Effect of dilutive stock options
 
7

 
85

 
Weighted average diluted common shares outstanding
 
16,089

 
16,093

 
 
 
 
 
 
 
Net income per common share
 
 

 
 

 
Basic and diluted
 
$
0.00

 
$
0.00

 
 
 
 
 
 
 
Employee stock options excluded from computation of dilutive income per share amounts because their effect would be anti-dilutive
 
851

 
231