Earnings Per Share (Tables)

6 Months Ended

Dec. 31, 2015

Schedule of Earnings Per Share, Basic and Diluted

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares that would have been outstanding under the treasury stock method if all potentially dilutive common shares (such as stock options) issued became vested during the period. There were no anti-dilutive securities or contracts outstanding during the six and three months ended December 31, 2015 and 2014.

	Net Income		Weighted Average Number Of Shares Outstanding		Earnings per Share

Six months ended December 31, 2015	$	4,470,000
Basic				4,224,540	$	1.06
Effect of dilutive stock options				25,916		(0.01	)
Diluted				4,250,456	$	1.05

Six months ended December 31, 2014	$	3,586,000
Basic				4,215,738	$	0.85
Effect of dilutive stock options				31,055		(0.01	)
Diluted				4,246,793	$	0.84

Three months ended December 31, 2015	$	2,320,000
Basic				4,225,924	$	$ 0.55
Effect of dilutive stock options				25,559		-
Diluted				4,251,483	$	$ 0.55

Three months ended December 31, 2014	$	1,811,000
Basic				4,217,118	$	$ 0.43
Effect of dilutive stock options				31,057		-
Diluted				4,248,175	$	$ 0.43