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Note 3 - Earnings Per Common Share
 12 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
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)
 
201
6
 
  
2015
    
2014
  
BASIC EARNINGS
PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
                         
Net income
 
$
9,482
 
   $ 5,151     $ 930  
                         
Weighted average shares outstanding during the period, net of treasury shares (a)
 
 
24,720
 
     24,187       24,084  
Weighted restricted stock units outstanding during the period
 
 
24
 
 
 
—
 
 
 
—
 
Weighted average shares outstanding in the Deferred Compensation Plan during the period
 
 
244
 
     309       304  
                         
Weighted average shares outstanding
 
 
24,988
 
     24,496       24,388  
                         
Basic earnings per share
 
$
0.38
 
   $ 0.21     $ 0.04  
                         
DILUTED EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
                         
Net income
 
$
9,482
 
   $ 5,151     $ 930  
                         
Weighted average shares outstanding
                        
                         
Basic
 
 
24,988
 
     24,496       24,388  
                         
Effect of dilutive securities (b):
                        
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any
 
 
604
 
     142       158  
                         
Weighted average shares outstanding (c)
 
 
25,592
 
     24,638       24,546  
                         
Diluted earnings per share
 
$
0.37
 
   $ 0.21     $ 0.04  
 
(a)
 
Includes shares accounted for like treasury stock.
 
 
 
(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 1,331,3
00 common shares, 1,882,722 common shares, and 1,974,775 common shares at June 30, 2016, 2015, and 2014, 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.