Note 3 - Earnings Per Common Share

12 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 3 — 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):

(In thousands, except per share data)	2014		2013			2012
BASIC EARNINGS PER SHARE
Net income (loss)	$	930	$	(123	)	$	3,224
Weighted average shares outstanding during the period, net of treasury shares (a)		24,084		24,029			24,036
Weighted average shares outstanding in the Deferred Compensation Plan during the period		304		284			262
Weighted average shares outstanding		24,388		24,313			24,298
Basic earnings (loss) per share	$	0.04	$	(0.01	)	$	0.13
DILUTED EARNINGS PER SHARE
Net income (loss)	$	930	$	(123	)	$	3,224
Weighted average shares outstanding
Basic		24,388		24,313			24,298
Effect of dilutive securities (b):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		158		—			54
Weighted average shares outstanding (c)		24,546		24,313			24,352
Diluted earnings (loss) per share	$	0.04	$	(0.01	)	$	0.13

(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 1,974,775 common shares, 2,027,450 common shares, and 1,782,868 common shares at June 30, 2014, 2013, and 2012, respectively, were not included in the computation of diluted earnings per share because the exercise price was greater than the average fair market value of the common shares.