Note M - Earnings Per Share

9 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

M. Earnings Per Share

The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period. The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect.  Certain restricted stock award recipients have a non-forfeitable right to receive dividends declared by the Company, and are therefore included in computing earnings per share pursuant to the two-class method. 

The components of basic and diluted earnings per share were as follows:

	For the Quarter Ended						For the Three Quarters Ended
	March 31, 2023			March 25, 2022			March 31, 2023			March 25, 2022
Basic:
Net income	$	2,750		$	2,310		$	1,973		$	539
Less: Net earnings attributable to noncontrolling interest		(76	)		(79	)		(188	)		(223	)
Less: Undistributed earnings attributable to unvested shares		-			-			-			-
Net income attributable to Twin Disc		2,674			2,231			1,785			316
Weighted average shares outstanding - basic		13,504			13,397			13,455			13,339
Basic Income Per Share:
Net earnings per share - basic	$	0.20		$	0.17		$	0.13		$	0.02
Diluted:
Net income	$	2,750		$	2,310		$	1,973		$	539
Less: Net earnings attributable to noncontrolling interest		(76	)		(79	)		(188	)		(223	)
Less: Undistributed earnings attributable to unvested shares		-			-			-			-
Net income attributable to Twin Disc		2,674			2,231			1,785			316
Weighted average shares outstanding - basic		13,504			13,397			13,455			13,339
Effect of dilutive stock awards		158			60			153			34
Weighted average shares outstanding - diluted		13,662			13,457			13,608			13,373
Diluted Income Per Share:
Net earnings per share - diluted	$	0.20		$	0.17		$	0.13		$	0.02