NET INCOME PER SHARE

9 Months Ended

Mar. 31, 2020

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 used in the calculation of diluted income per share 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 March 31,				Nine Months Ended March 31,
	2020		2019		2020		2019
Basic:
Net income	$	1,213	$	732	$	3,567	$	3,260
Weighted average shares outstanding		3,871		4,143		3,944		4,224
Basic income per share	$	0.31	$	0.18	$	0.90	$	0.77
Diluted:
Net income	$	1,213	$	732	$	3,567	$	3,260
Weighted average shares outstanding		3,871		4,143		3,944		4,224
Effect of dilutive securities		128		114		127		114
Weighted average shares used in calculation of diluted earnings per share		3,999		4,257		4,071		4,338
Diluted income per share	$	0.30	$	0.17	$	0.88	$	0.75