Earnings Per Share

12 Months Ended

Jun. 30, 2019

Note 12. 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 years ended June 30, 2019 and 2018.

	2019		2018
Net Income	$	17,484,000	$	14,408,000
Weighted Average Shares – Basic		8,537,814		8,513,558
Effect of Dilutive Stock Options		-		21,351
Weighted Average Shares - Dilute		8,537,814		8,534,909

Earnings per share - Basic	$	2.05	$	1.69
Earnings per share - Diluted	$	2.05	$	1.69