NET INCOME PER SHARE

12 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

NET INCOME PER SHARE

11. 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, 2021 and 2020 is as follows (in thousands, except per share data):

	Years Ended June 30,
	2021		2020
Basic:
Net income	$	4,450	$	6,112
Weighted-average shares outstanding		3,797		3,911
Basic earnings per share	$	1.17	$	1.56
Diluted:
Net income	$	4,450	$	6,112
Weighted-average shares outstanding		3,797		3,911
Effect of dilutive securities – stock options & performance awards		139		167
Weighted-average shares used in calculation of diluted earnings per share		3,936		4,078
Diluted earnings per share	$	1.13	$	1.50