Earnings Per Share

6 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share

(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, 2018 and 2017.

	For the three months ended December 31,				For the six months ended December 31,
	2018		2017		2018		2017
Net Income	$	4,584,000	$	3,640,000	$	8,964,000	$	7,112,000
Weighted Average Shares – Basic		8,537,814		8,504,168		8,537,814		8,503,451
Effect of Dilutive Stock Options		-		28,958		-		28,823
Weighted Average Shares - Dilute		8,537,814		8,533,126		8,537,814		8,532,274
Earnings per share - Basic	$	0.54	$	0.43	$	1.05	$	0.84
Earnings per share - Diluted	$	0.54	$	0.43	$	1.05	$	0.83