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Earnings Per Share
3 Months Ended
Sep. 30, 2011
Earnings Per Share [Abstract] 
Earnings Per Share

6.       EARNINGS PER SHARE

 

Basic earnings per share ("EPS") of common stock are based on the weighted-average number of common shares outstanding for each period. Diluted EPS of common stock includes the dilutive effect of potential common shares outstanding. The Company's potential common shares outstanding are stock options and shares associated with the long-term management incentive compensation plan, which resulted in a dilutive effect of 241,799 shares and 178,851 shares at September 30, 2011 and 2010, respectively. The Company calculates the dilutive effect of outstanding options using the treasury stock method. The Company calculates the dilutive effect of shares related to the long-term management incentive compensation plan based on the number of shares, if any, that would be issuable if the end of the fiscal year were the end of the contingency period. Options to purchase 424,150 shares and 493,150 shares of common stock were outstanding at September 30, 2011 and 2010, respectively, but were not included in the computation of diluted EPS as their exercise prices were greater than the average market price of the common shares.