Note 4 - Earnings Per Common Share

3 Months Ended

Sep. 30, 2022

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
	September 30
	2022		2021
BASIC EARNINGS PER SHARE
Net income	$	6,262	$	3,133
Weighted average shares outstanding during the period, net of treasury shares		26,730		26,553
Weighted average vested restricted stock units outstanding		46		17
Weighted average shares outstanding in the Deferred Compensation Plan during the period		865		426
Weighted average shares outstanding		27,641		26,996
Basic earnings per common share	$	0.23	$	0.12
DILUTED EARNINGS PER SHARE
Net income	$	6,262	$	3,133
Weighted average shares outstanding:
Basic		27,641		26,996
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any		1,023		747
Weighted average shares outstanding		28,664		27,743
Diluted earnings per common share	$	0.22	$	0.11
Anti-dilutive securities (b)		213		989

(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, 2022, and September 30, 2021, 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.