Note 14 - Earnings Per Share

12 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 14. EARNINGS PER SHARE

The following table sets forth the computation for basic and diluted earnings per share (EPS):

	Year Ended June 30,
	2024		2023
(dollars in thousands, except per share data)
Net Income (Loss)	$	1,333	$	3,149
Weighted average number of outstanding shares
Basic		14,182,300		14,638,833
Effect of dilutive securities
Stock options		53		236
Diluted		14,182,353		14,639,069
Earnings (Loss) Per Share
Basic Net Income (Loss) per Share	$	0.09	$	0.22
Diluted Net Income (Loss) per Share	$	0.09	$	0.22

The diluted EPS calculation excludes the effect of stock options when their exercise prices exceed the average market price for the period. For the years ended June 30, 2024, and 2023, 229,000 employee stock options were excluded from diluted EPS.

During fiscal years 2024 and 2023, the Company repurchased class A shares on the open market. Repurchased shares are classified as treasury shares and are deducted from outstanding shares in the earnings per share calculation.