Earnings Per Share

9 Months Ended

Mar. 31, 2016

(7)	Earnings Per Share

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 nine and three months ended March 31, 2016 and 2015. On February 17, 2016, the Company announced that its Board of Directors has declared a two-for-one stock split on the Company’s common stock. The stock split was paid on March 15, 2016 to stockholders of record as of March 7, 2016. Weighted-average number of shares and earnings per share have been restated in all periods presented as if the new shares had been issued and outstanding at the same time as the original shares.

	Net Income		Weighted Average Number Of Shares Outstanding		Earnings per Share

Nine months ended March 31, 2016	$	6,631,000
Basic				8,454,147	$	0.78
Effect of dilutive stock options				15,585		-
Diluted				8,469,732	$	0.78

Nine months ended March 31, 2015	$	5,370,000
Basic				8,434,894	$	0.64
Effect of dilutive stock options				61,220		(.01	)
Diluted				8,496,114	$	0.63

Three months ended March 31, 2016	$	2,161,000
Basic				8,464,392	$	$ 0.26
Effect of dilutive stock options				19,817		(.01	)
Diluted				8,484,209	$	$ 0.25

Three months ended March 31, 2015	$	1,784,000
Basic				8,441,880	$	$ 0.21
Effect of dilutive stock options				59,166		-
Diluted				8,501,046	$	$ 0.21