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Basis of Presentation (Tables)
9 Months Ended
Mar. 31, 2016
Basis of Presentation  
Schedule of computation of basic and diluted earnings per share

 

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

 

 

 

Three Months Ended
March 31,

 

Nine Months Ended
March 31,

 

 

 

2015

 

2016

 

2015

 

2016

 

Net income for diluted earnings per share calculation

 

$

13,228 

 

$

9,343 

 

$

42,718 

 

$

20,256 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding for basic earnings per share calculation

 

19,801 

 

19,336 

 

19,810 

 

19,604 

 

Dilutive effect of stock awards

 

728 

 

605 

 

705 

 

657 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding for diluted earnings per share calculation

 

20,529 

 

19,941 

 

20,515 

 

20,261 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$

0.67 

 

$

0.48 

 

$

2.16 

 

$

1.03 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per share

 

$

0.64 

 

$

0.47 

 

$

2.08 

 

$

1.00 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares excluded from computation of diluted net income per share:

 

 

 

 

 

 

 

 

 

Weighted average stock options excluded from computation due to anti-dilutive effect

 

49 

 

70 

 

43 

 

39 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of fair values of financial assets and liabilities

 

The fair values of our financial assets and liabilities as of June 30, 2015 and March 31, 2016 are categorized as follows (in thousands):

 

 

 

June 30, 2015

 

March 31, 2016

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

$

291

 

$

2,150

 

$

 

$

2,441

 

$

317

 

$

 

 

$

317

 

Insurance company contracts

 

 

20,100

 

 

20,100

 

 

20,651

 

 

20,651

 

Interest rate contract

 

 

(41

)

 

(41

)

 

(22

)

 

(22

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

291

 

$

22,209

 

$

 

$

22,500

 

$

317

 

$

20,629

 

$

 

$

20,946

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities — Contingent payment obligations

 

$

 

$

 

$

17,175

 

$

17,175

 

$

 

$

 

$

21,832

 

$

21,832