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NET INCOME PER SHARE
 12 Months Ended
Jun. 30, 2018
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, 2018 and 2017 is as follows (in thousands, except per share data):


 

 

Years Ended June 30,

 

 

 

2018

 

 

2017

 

Basic:

 

 

 

 

 

 

Income from continuing operations

 

$

1,621

 

 

$

4,841

 

Weighted average shares outstanding

 

 

4,305

 

 

 

4,040

 

Basic earnings per share from continuing operations

 

$

0.38

 

 

$

1.20

 

Income from discontinued operations

 

$

—

 

 

$

243

 

Weighted average shares outstanding

 

 

4,305

 

 

 

4,040

 

Basic earnings per share from discontinued operations

 

$

0.00

 

 

$

0.06

 

Net income

 

$

1,621

 

 

$

5,084

 

Weighted average shares outstanding

 

 

4,305

 

 

 

4,040

 

Basic earnings per share

 

$

0.38

 

 

$

1.26

 

Diluted:

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1,621

 

 

$

4,841

 

Weighted average shares outstanding

 

 

4,305

 

 

 

4,040

 

Effect of dilutive securities – stock options

 

 

40

 

 

 

37

 

Weighted average shares used in calculation of diluted earnings per share

 

 

4,345

 

 

 

4,077

 

Diluted earnings per share from continuing operations

 

$

0.37

 

 

$

1.19

 

Income from discontinued operations

 

$

—

 

 

$

243

 

Weighted average shares used in calculation of diluted earnings per share

 

 

4,345

 

 

 

4,077

 

Diluted earnings per share from discontinued operations

 

$

—

 

 

$

0.06

 

Net income

 

$

1,621

 

 

$

5,084

 

Weighted average shares used in calculation of diluted earnings per share

 

 

4,345

 

 

 

4,077

 

Diluted earnings per share

 

$

0.37

 

 

$

1.25