Earnings Per Share

6 Months Ended

Dec. 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 three and six months ended December 31, 2016 and 2015. On February 17, 2016, the Company declared a 2-for-1 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 outstanding and earnings per share have been restated for December 31, 2015 as if the new shares had been issued and outstanding at the same time as the original shares.

	For the three months ended December 31,				For the six months ended December 31,
	2016		2015		2016		2015

Net Income	$	2,926,000	$	2,320,000	$	5,433,000	$	4,470,000

Weighted Average Shares – Basic		8,491,929		8,451,848		8,487,554		8,449,080
Effect of Dilutive Stock Options		17,387		51,118		16,359		51,832
Weighted Average Shares - Dilute		8,509,316		8,502,966		8,503,913		8,500,912

Earnings per share - Basic	$	0.34	$	0.27	$	0.64	$	0.53
Earnings per share - Diluted	$	0.34	$	0.27	$	0.64	$	0.53