NET INCOME PER SHARE

6 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NOTE 6. NET INCOME PER SHARE

We calculate 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, net income amounts represent the numerator, and weighted average shares outstanding amounts represent the denominator (in thousands, except per share amounts):

	Three Months Ended December 31,				Six Months Ended December 31,
	2022		2021		2022		2021
Basic:
Net income	$	879	$	925	$	1,955	$	1,988
Weighted average shares outstanding		3,574		3,657		3,595		3,654
Basic income per share	$	0.25	$	0.25	$	0.54	$	0.54
Diluted:
Net income	$	879	$	925	$	1,955	$	1,988
Weighted average shares outstanding		3,574		3,657		3,595		3,654
Effect of dilutive securities		78		110		77		120
Weighted average shares used in calculation of diluted earnings per share		3,652		3,767		3,672		3,774
Diluted income per share	$	0.24	$	0.25	$	0.53	$	0.53