EARNINGS PER SHARE (Tables)

12 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Earnings per share

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

	Year Ended June 30,
	2021		2020		2019
Net income as reported	$	12,868	$	2,266	$	214
Weighted average common shares outstanding	16,593		16,249		16,116
Effect of dilutive stock options	435		182		7
Weighted average diluted common shares outstanding	17,028		16,431		16,123
Net income per common share
Basic	$	0.78	$	0.14	$	0.01
Diluted	$	0.76	$	0.14	$	0.01
Employee stock options excluded from computation of diluted income per share amounts because their effect would be anti-dilutive	—		206		1,173