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Note 3 - Earnings Per Common Share
 12 Months Ended
Jun. 30, 2018
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
8
    
2017
    
2016
  
BASIC EARNINGS
(LOSS)
PER SHARE
  
 
 
 
  
 
 
 
  
 
 
 
                         
Net (loss) income
  
$
(19,541
)
   $
3,000
     $
9,482
  
                         
Weighted average shares outstanding during the period, net of treasury shares (a)
  
 
25,569
      
25,144
      
24,720
  
Weighted average vested restricted stock units outstanding
  
 
55
      
37
      
24
  
Weighted average shares outstanding in the Deferred Compensation Plan
  
 
242
      
255
      
244
  
                         
Weighted average shares outstanding
  
 
25,866
      
25,436
      
24,988
  
                         
Basic (loss) earnings per share
  
$
(0.76
)
   $
0.12
     $
0.38
  
                         
DILUTED EARNINGS
(LOSS)
PER SHARE
  
 
 
 
  
 
 
 
  
 
 
 
                         
Net (loss) income
  
$
(19,541
)
   $
3,000
     $
9,482
  
                         
                         
Weighted average shares outstanding - Basic
  
 
25,866
      
25,436
      
24,988
  
                         
Effect of dilutive securities (b):
                        
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any
  
 
—
      
552
      
604
  
                         
Weighted average shares outstanding (c)
  
 
25,866
      
25,988
      
25,592
  
                         
Diluted (loss) earnings per share
  
$
(0.76
)
   $
0.12
     $
0.37
  
 
(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
2,802,420
common shares, 
1,698,883
common shares, and
1,331,300
common shares at
June 
30,
2018,
2017,
and
2016,
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. For the year ended
June 30, 2018
the effect of dilutive securities was
not
included in the calculation of diluted earnings (loss) per share because there was a net operating loss for the period.