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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Sales, net $ 56,246 $ 63,559
Cost of sales 49,694 54,079
Gross profit 6,552 9,480
Selling and administrative expenses 3,807 3,696
Operating income 2,745 5,784
Other income (expense), net:    
PPP Note forgiveness 0 1,659
Interest expense (128) (256)
Unrealized loss on investment in iBio Stock (55) (53)
Realized gains on sale of investment in iBio Stock 0 56
Other income 35 57
Total other income (expense), net (148) 1,463
Income before income taxes 2,597 7,247
Income tax benefit, net 1,241 766
Net income $ 3,838 $ 8,013
Basic net income per common share (in dollars per share) $ 0.13 $ 0.27
Diluted net income per common share (in dollars per share) $ 0.12 $ 0.25
Weighted average common shares outstanding - basic (in shares) 29,843,387 29,699,065
Add: Equivalent shares outstanding - stock options (in shares) 2,477,939 2,414,616
Weighted average common shares outstanding - diluted (in shares) 32,321,326 32,113,681