7. Earnings (Loss) per common share

6 Months Ended

Dec. 31, 2013

Equity [Abstract]

Earnings (Loss) per common share

7. Earnings per common share:

Basic earnings per common share are computed by dividing net income by the weighted-average number of shares outstanding. Diluted earnings per common share include the dilutive effect of stock options, if any.

Earnings per common share was computed as follows:

	For the Three Month				For the Six Month
	Periods Ended				Periods Ended
	December 31,				December 31,
	2013		2012		2013		2012
Net income	$	135,100	$	138,400	$	137,200	$	76,200
Weighted average common shares outstanding		1,342,663		1,337,175		1,340,163		1,336,444
Dilutive securities		6,327		3,765		6,867		4,463
Weighted average dilutive common shares outstanding		1,348,990		1,340,940		1,347,030		1,340,907
Basic earningsper common share	$	0.10	$	0.10	$	0.10	$	0.06
Diluted earnings per common share	$	0.10	$	0.10	$	0.10	$	0.06

Approximately 5,000 and 28,500 shares of the Company's Common Stock issuable upon the exercise of outstanding stock options were excluded from the calculation of diluted earnings per common share for the three and six month periods ended December 31, 2013, because the effect would be anti-dilutive.

Approximately 40,000 shares of the Company's common stock issuable upon the exercise of outstanding options were excluded from the calculation of diluted earnings per common share for each of the three and six month periods ended December 31, 2012, because the effect would be anti- dilutive.