EARNINGS PER SHARE

9 Months Ended

Mar. 31, 2012

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 8 - EARNINGS PER SHARE

Earnings per share are measured at two levels: basic per share and diluted per share. Basic per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted per share is computed by dividing net income by the weighted average number of common shares after considering the additional dilution related to common stock options and restricted stock. In computing diluted earnings per share, the outstanding common stock options are considered dilutive using the treasury stock method. Vested restricted shares are included in basic common shares outstanding, and unvested restricted shares are included in the diluted common shares outstanding, if the effect is dilutive.

The following information is necessary to calculate earnings per share for the periods presented (in thousands, except per-share data):

	Three-Months Ended						Nine-Months Ended
	March 31,						March 31,
	2012			2011			2012			2011
	(Unaudited)						(Unaudited)
Net loss, as reported	$	(520	)	$	(659	)	$	(817	)	$	(2,263	)
Weighted average common shares outstanding		15,111			14,948			15,084			14,925
Effect of dilutive stock options		-			-			-			-
Weighted average diluted common shares outstanding		15,111			14,948			15,084			14,925
Net loss per common share
Basic	$	(0.03	)	$	(0.04	)	$	(0.05	)	$	(0.15	)
Diluted	$	(0.03	)	$	(0.04	)	$	(0.05	)	$	(0.15	)
Employee stock options excluded from computation
of dilutive income per share amounts because their
effect would be anti-dilutive		833			390			833			390