NET INCOME PER SHARE

12 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

NET INCOME PER SHARE

13. NET INCOME PER SHARE

We calculate basic earnings per share by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the effects of potentially dilutive securities. The summary of the basic and diluted earnings per share calculations for the years ended June 30, 2023 and 2022 is as follows (in thousands, except per share data):

	Years Ended June 30,
	2023		2022
Basic:			(Restated)
Net income	$	7,074	$	4,572
Weighted-average shares outstanding		3,571		3,636
Basic earnings per share	$	1.98	$	1.26
Diluted:
Net income	$	7,074	$	4,572
Weighted-average shares outstanding		3,571		3,636
Effect of dilutive securities – stock options & performance awards		66		127
Weighted-average shares used in calculation of diluted earnings per share		3,637		3,763
Diluted earnings per share	$	1.95	$	1.21