NET INCOME PER SHARE

6 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NOTE 5. NET INCOME PER SHARE

The Company calculates basic net income per share by dividing net income 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 and performance awards.

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

	Three Months Ended December 31,				Six Months Ended December 31,
	2019		2018		2019		2018
Basic:
Net income	$	1,249	$	1,179	$	2,354	$	2,528
Weighted average shares outstanding		3,950		4,195		3,979		4,263
Basic income per share	$	0.32	$	0.28	$	0.59	$	0.59
Diluted:
Net income	$	1,249	$	1,179	$	2,354	$	2,528
Weighted average shares outstanding		3,950		4,195		3,979		4,263
Effect of dilutive securities – stock options		103		47		103		40
Weighted average shares used in calculation of diluted earnings per share		4,053		4,242		4,082		4,303
Diluted income per share	$	0.31	$	0.28	$	0.58	$	0.59