Note 3 - Earnings Per Share

12 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 3 — EARNINGS PER 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)
BASIC EARNINGS PER SHARE	2023		2022
Net Income	$	25,762	$	15,032
Weighted average shares outstanding during the period, net of treasury shares		27,159		26,618
Weighted average vested restricted stock units outstanding		73		30
Weighted average shares outstanding in the Deferred Compensation Plan during the period		895		638
Weighted average shares outstanding		28,127		27,286
Basic income per share	$	0.92	$	0.55
DILUTED EARNINGS PER SHARE
Net Income	$	25,762	$	15,032
Weighted average shares outstanding
Basic		28,127		27,286
Effect of dilutive securities (a):
Impact of common shares to be issued under stock option plans, and Contingently issuable shares, if any		1,189		707
Weighted average shares outstanding		29,316		27,993
Diluted income per share	$	0.88	$	0.54
Anti-dilutive securities (b)		154		1,100

(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 in the computation of diluted earnings per share for the year ended June 30, 2023, and June 30, 2022, because the exercise price was greater than the 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.