Note 9 - Earnings Per Share

3 Months Ended

Sep. 30, 2013

Earnings per share: [Abstract]

Earnings Per Share [Text Block]

(9) Earnings Per Share

Basic earnings per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding, as well as dilutive potential common shares which, in the Company’s case, comprise shares issuable under the Company’s Comprehensive Long-Term Incentive Plan. The weighted average number of common shares utilized in the calculation of the diluted earnings per share does not include anti-dilutive shares aggregating 0 and 10,000 for the three months ended September 30, 2013 and 2012, respectively. The treasury stock method is used to calculate dilutive shares, which reduces the gross number of dilutive shares by the number of shares purchasable from the proceeds of the options assumed to be exercised.

The following table sets forth the computation of basic and fully diluted earnings per share:

	Three Months Ended September 30
(amounts in thousands)	2013		2012
Numerator:
Net income	$	2,983	$	2,854
Denominator:
Denominator for basic earnings per share outstanding		12,649		12,999
Denominator for diluted earnings per share:
Weighted average shares outstanding		12,649		12,999
Common stock options and restricted stock		544		677
Weighted average shares		13,193		13,676