Note 13 - Earnings Per Share

6 Months Ended

Dec. 31, 2015

13) Earnings Per Share

The following table sets forth a reconciliation of the number of shares (in thousands) used in the computation of basic and diluted earnings per share:


	Three Months Ended December 31,				Six Months Ended December 31,
	2015		2014		2015		2014
Basic - Average shares outstanding		12,692		12,656		12,675		12,655
Effect of dilutive securities:
Unvested stock awards		99		146		102		163
Diluted - Average shares outstanding		12,791		12,802		12,777		12,818

Earnings available to common stockholders are the same for computing both basic and diluted earnings per share. No options to purchase common stock were excluded as anti-dilutive from the calculation of diluted earnings per share for the three and six months ended December 31, 2015 and 2014, respectively.

Performance stock units of 30,764 and 28,597 for the six months ended December 31, 2015 and 2014, respectively, are excluded from the diluted earnings per share calculation as the performance criteria have not been met.