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Note 3 - Earnings Per Common Share
 12 Months Ended
Jun. 30, 2017
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)
 
2017
 
  
2016
    
2015
  
BASIC EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
                         
Net income
 
$
3,000
 
   $
9,482
     $
5,151
  
                         
Weighted average shares outstanding during the period, net of treasury shares (a)
 
 
25,144
 
    
24,720
      
24,187
  
Weighted average vested restricted stock units outstanding
 
 
37
 
    
24
  
 
 
—
 
Weighted average shares outstanding in the Deferred Compensation Plan
 
 
255
 
    
244
      
309
  
                         
Weighted average shares outstanding
 
 
25,436
 
    
24,988
      
24,496
  
                         
Basic earnings per share
 
$
0.12
 
   $
0.38
     $
0.21
  
                         
DILUTED EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
                         
Net income
 
$
3,000
 
   $
9,482
     $
5,151
  
                         
Weighted average shares outstanding - Basic
 
 
25,436
 
    
24,988
      
24,496
  
                         
Effect of dilutive securities (b):
                        
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any
 
 
552
 
    
604
      
142
  
                         
Weighted average shares outstanding (c)
 
 
25,988
 
    
25,592
      
24,638
  
                         
Diluted earnings per share
 
$
0.12
 
   $
0.37
     $
0.21
  
 
(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 
1,698,883
 common shares,
1,331,300
common shares, and
1,882,722
common shares at
June 
30,
2017,
2016,
and
2015,
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.