Stock Based Compensation (Tables)

6 Months Ended

Dec. 31, 2012

Options Outstanding

Options outstanding at December 31, 2012 were as follows:

	Outstanding				Exercisable
			Weighted				Weighted
Range of			Average				Average
Exercise			Remaining				Exercise
Price	Number		Life		Number		Price
$1.79 to $4.42		759,800		8.58		303,965	$	2.15
$8.32 to $13.64		141,221		2.61		159,259		8.45
Total		901,021		7.64		463,224	$	4.32

Summary of Stock-Based Compensation Activity

A summary of stock-based compensation activity for the current fiscal year is as follows:

	Three months ended					Six months ended
	December 31, 2012					December 31, 2012
	Total options outstanding					Total options outstanding
				Weighted-					Weighted-
				Average					Average
				Exercise					Exercise
	Shares			Price		Shares			Price
Options outstanding, beginning of period		738,556		$	4.28		740,256		$	4.15
Forfeited		(35,600	)		1.79		(42,800	)		2.01
Expired		(35,935	)		8.38		(40,435	)		8.63
Exercised		(40,000	)		1.90		(40,000	)		1.90
Granted		274,000			2.20		284,000			2.19
Options outstanding, end of period		901,021		$	3.54		901,021		$	3.54
Options exercisable, end of period		463,224		$	4.32		463,224		$	4.32

Weighted Average Assumptions Used in Determining Fair Value for Options Granted

The fair value for stock options granted during the six months ended December 31, 2012, were determined at the date of grant using a Black-Scholes options-pricing model and the following assumptions:

	December 31,
	2012
Expected weighted average risk-free interest rate		0.83	%
Expected weighted average life (in years)		6.00
Expected volatility		56.75	%
Expected dividend yield		0.00	%

Summary of Changes in Restricted Shares

A summary of changes in the Company’s restricted shares for the six months ended December 31, 2012 is as follows:

				Weighted-
				Average
				Grant-Date
Nonvested Shares	Shares			Fair Value
Nonvested at July 1, 2012		162,333		$	303,537
Granted		77,937			157,433
Vested		(54,667	)		(102,173	)
Forfeited		(5,000	)		(8,950	)
Nonvested at December 31, 2012		180,603		$	349,847