XML 28 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
EARNINGS PER SHARE
 12 Months Ended
Jun. 30, 2017
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
NOTE 9 - EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) 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.

The Company’s restricted stock awards are treated as outstanding for earnings per share calculations since these shares have full voting rights and are entitled to participate in dividends declared on common shares, if any, and undistributed earnings. As participating securities, the shares of restricted stock are included in the calculation of basic EPS using the two-class method. For the periods presented, the amount of earnings allocated to the participating securities was not material.

The following information is necessary to calculate earnings per share for the periods presented (in thousands, except per share amounts):
 
  Year Ended June 30, 
  
2017
  
2016
  
2015
 
       
Net income (loss), as reported
 
$
(1,293
)
 
$
13
  
$
1,160
 
             
Weighted average common shares outstanding
  
15,949
   
15,448
   
15,327
 
Effect of dilutive stock options
  
-
   
390
   
237
 
Weighted average diluted common shares outstanding
  
15,949
   
15,838
   
15,564
 
             
Net income (loss) per common share
            
Basic
 
$
(0.08
)
 
$
0.00
  
$
0.08
 
Diluted
 
$
(0.08
)
 
$
0.00
  
$
0.07
 
            
Employee stock options excluded from computation of diluted income per share amounts because their effect would be anti-dilutive
  
304
   
137
   
210