Earnings Per Share

9 Months Ended

Mar. 31, 2020

(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 dilutive or anti-dilutive securities or contracts outstanding during the three and nine months ended March 31, 2020 and 2019.

	For the three months Ended March 31,				For the nine months Ended March 31,
	2020		2019		2020		2019

Net Income	$	4,051,000	$	4,356,000	$	14,027,000	$	13,320,000
Weighted Average Shares – Basic		8,531,304		8,537,814		8,535,391		8,537,814
Weighted Average Shares - Dilute		8,531,304		8,537,814		8,535,391		8,537,814

Earnings per share - Basic	$	0.47	$	0.51	$	1.64	$	1.56
Earnings per share - Diluted	$	0.47	$	0.51	$	1.64	$	1.56