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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Sales, net $ 13,631 $ 14,088 $ 39,234 $ 36,393
Cost of sales 11,779 11,995 33,957 31,750
Gross profit 1,852 2,093 5,277 4,643
Selling and administrative expenses 892 856 2,636 2,513
Operating income 960 1,237 2,641 2,130
Other income (expense), net        
Interest expense (96) (196) (329) (586)
Change in fair value of derivative liabilities 9
Realized gain on investment 49 49
Unrealized gain on investment 90 35
Other income, net 25 27 32
Other income (expense), net 43 (171) (218) (545)
Income before income taxes 1,003 1,066 2,423 1,585
Provision for income taxes 67 143 216 257
Net income $ 936 $ 923 $ 2,207 $ 1,328
Basic earnings per common share (in dollars per share) $ 0.03 $ 0.03 $ 0.07 $ 0.05
Diluted earnings per common share (in dollars per share) $ 0.03 $ 0.03 $ 0.07 $ 0.05
Weighted average common shares outstanding - basic (in shares) 29,565,943 29,565,943 29,565,943 28,719,452
Add: Equivalent shares outstanding (in shares) 1,319,380 542,782 1,113,309 582,525
Weighted average common shares outstanding - diluted (in shares) 30,885,323 30,108,725 30,679,252 29,301,977