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NET INCOME (LOSS) PER SHARE
 9 Months Ended
Mar. 31, 2018
Basic net income per share:  
NET INCOME (LOSS) PER SHARE

NOTE 7. NET INCOME (LOSS) PER SHARE


We calculate basic net income (loss) per share by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. The weighted-average number of common shares outstanding reflects the effects of potentially dilutive securities, in income generating periods, which consist entirely of outstanding stock options.


The following table presents reconciliations of the numerators and denominators of the basic and diluted earnings (loss) per share computations for net income (loss). In the tables below, income (loss) amounts represent the numerator, and share amounts represent the denominator (in thousands, except per share amounts):


 

 

Three Months Ended
March 31,

 

 

Nine Months Ended
March 31,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

480

 

 

$

703

 

 

$

1,453

 

 

$

4,125

 

Weighted average shares outstanding

 

 

4,363

 

 

 

4,021

 

 

 

4,290

 

 

 

4,047

 

Basic income per share from continuing operations

 

$

0.11

 

 

$

0.17

 

 

$

0.34

 

 

$

1.02

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations

 

$

—

 

 

$

185

 

 

$

—

 

 

$

243

 

Weighted average shares outstanding

 

 

4,363

 

 

 

4,021

 

 

 

4,290

 

 

 

4,047

 

Basic and diluted earnings (loss) per share from discontinued operations

 

$

—

 

 

$

0.05

 

 

$

—

 

 

$

0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

480

 

 

$

888

 

 

$

1,453

 

 

$

4,368

 

Weighted average shares outstanding

 

 

4,363

 

 

 

4,021

 

 

 

4,290

 

 

 

4,047

 

Basic income per share

 

$

0.11

 

 

$

0.22

 

 

$

0.34

 

 

$

1.08

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

480

 

 

$

703

 

 

$

1,453

 

 

$

4,125

 

Weighted average shares outstanding

 

 

4,363

 

 

 

4,021

 

 

 

4,290

 

 

 

4,047

 

Effect of dilutive securities – stock options

 

 

40

 

 

 

34

 

 

 

40

 

 

 

38

 

Weighted average shares outstanding used in calculation of diluted earnings per share

 

 

4,403

 

 

 

4,055

 

 

 

4,330

 

 

 

4,085

 

Diluted loss per share from continuing operations

 

$

0.11

 

 

$

0.17

 

 

$

0.34

 

 

$

1.01

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from discontinued operations

 

$

—

 

 

$

185

 

 

$

—

 

 

$

243

 

Weighted average shares outstanding used in calculation of diluted earnings per share

 

 

4,403

 

 

 

4,055

 

 

 

4,330

 

 

 

4,085

 

Diluted earnings per share from discontinued operations

 

$

—

 

 

$

0.05

 

 

$

—

 

 

$

0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

480

 

 

$

888

 

 

$

1,453

 

 

$

4,368

 

Weighted average shares outstanding

 

 

4,403

 

 

 

4,055

 

 

 

4,330

 

 

 

4,085

 

Diluted income per share

 

$

0.11

 

 

$

0.22

 

 

$

0.34

 

 

$

1.07