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Note 4 - Earnings Per Common Share
 9 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
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
    
Nine Months Ended
  
   
March 31
    
March 31
  
   
2020
    
2019
    
2020
    
2019
  
                                 
BASIC EARNINGS PER SHARE
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
                                 
Net income (loss)
   $
1,861
     $
(3,168
 )   $
8,079
     $
(17,201
 )
                                 
Weighted average shares outstanding during the period, net of treasury shares
    
26,151
      
25,893
      
26,087
      
25,828
  
Weighted average vested restricted stock units outstanding
    
6
      
33
      
7
      
40
  
Weighted average shares outstanding in the Deferred Compensation Plan during the period
    
144
      
206
      
156
      
215
  
Weighted average shares outstanding
    
26,301
      
26,132
      
26,250
      
26,083
  
                                 
Basic income (loss) per share
   $
0.07
     $
(0.12
 )   $
0.31
     $
(0.66
 )
                                 
                                 
DILUTED EARNINGS PER SHARE
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
                                 
Net income (loss)
   $
1,861
     $
(3,168
 )   $
8,079
     $
(17,201
 )
                                 
Weighted average shares outstanding
                                
                                 
Basic
    
26,301
      
26,132
      
26,250
      
26,083
  
                                 
Effect of dilutive securities (a):
                                
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any
    
322
      
-
      
173
      
-
  
Weighted average shares outstanding
    
26,623
      
26,132
      
26,423
      
26,083
  
                                 
Diluted income (loss) per share
   $
0.07
     $
(0.12
 )   $
0.31
     $
(0.66
 )
                                 
                                 
Anti-dilutive securities (b)
    
1,875
      
3,788
      
2,038
      
3,702
  
 
 
(a)
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.
 
 
(b)
Anti-dilutive securities were excluded from the computation of diluted net income per share for the
three
and
nine
months ended
March 31, 2020 
because the exercise price was greater than the average fair market price of the common shares or because the assumed proceeds from the award’s exercise or vesting was greater than the average fair market price of the common shares. For the
three
 and
nine
months ended
March 31, 2019,
the effect of dilutive securities was
not
included in the calculation of diluted loss per share because there was a net loss for the period.