Note 5 - Earnings per Common Share

3 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 5 - 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
	September 30
	2021		2020
BASIC EARNINGS PER SHARE
Net income	$	3,133	$	1,990
Weighted average shares outstanding during the period, net of treasury shares		26,553		26,318
Weighted average vested restricted stock units outstanding		17		10
Weighted average shares outstanding in the Deferred Compensation Plan during the period		426		192
Weighted average shares outstanding		26,996		26,520
Basic income per share	$	0.12	$	0.08
DILUTED EARNINGS PER SHARE
Net income	$	3,133	$	1,990
Weighted average shares outstanding:
Basic		26,996		26,520
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		747		448
Weighted average shares outstanding		27,743		26,968
Diluted income per share	$	0.11	$	0.07
Anti-dilutive securities (b)		989		1,302

(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 months ended September 30, 2021 and September 30, 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.