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Note 4 - Earnings Per Common Share
 6 Months Ended
Dec. 31, 2012
Earnings Per Share [Text Block]
NOTE 4 — EARNINGS PER COMMON SHARE

The following table presents the amounts used to compute basic and diluted earnings per common share, as well as the effect of dilutive potential common shares on weighted average shares outstanding (in thousands, except per share data):

   
Three Months Ended
December 31
   
Six Months Ended
December 31
 
   
2012
   
2011
   
2012
   
2011
 
                             
BASIC EARNINGS PER SHARE
                           
                             
Net income (loss)
 
$
(2,450
)
 
$
772
   
$
(620
)
 
$
2,096
 
                                 
Weighted average shares outstanding during the period, net of treasury shares (a)
   
24,021
     
24,034
     
24,025
     
24,037
 
Weighted average shares outstanding in the Deferred Compensation Plan during the period
   
286
     
264
     
281
     
258
 
Weighted average shares outstanding
   
24,307
     
24,298
     
24,306
     
24,295
 
                                 
Basic earnings (loss) per share
 
$
(0.10
)
 
$
0.03
   
$
(0.03
)
 
$
0.09
 
                                 
DILUTED EARNINGS PER SHARE
                               
                                 
Net income (loss)
 
$
(2,450
)
 
$
772
   
$
(620
)
 
$
2,096
 
                                 
Weighted average shares outstanding
                               
                                 
Basic
   
24,307
     
24,298
     
24,306
     
24,295
 
                                 
Effect of dilutive securities (b):
                               
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any
   
84
     
43
     
76
     
53
 
                                 
Weighted average shares outstanding (c)
   
24,391
     
24,341
     
24,382
     
24,348
 
                                 
Diluted earnings (loss) per share
 
$
(0.10
)
 
$
0.03
   
$
(0.03
)
 
$
0.09
 

 
(a)
Includes shares accounted for like treasury stock in accordance with Accounting Standards Codification Topic 710, Compensation - General.

 
(b)
Calculated using the “Treasury Stock” method as if dilutive securities were exercised and the funds were used to purchase common shares at the average market price during the period.

 
(c)
Options to purchase 1,896,776 common shares and 1,821,210 common shares at December 31, 2012 and 2011, respectively, and options to purchase 1,852,451 common shares and 1,823,315 common shares at December 31, 2012 and 2011, respectively, were not included in the computation of the three month and six month, respectively, diluted earnings per share because the exercise price was greater than the average fair market value of the common shares.