Note 13 - Earnings Per Share

9 Months Ended

Mar. 31, 2016

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				Nine Months Ended
	March 31,				March 31,
	2016		2015		2016		2015
Basic - Average shares outstanding		12,697		12,657		12,682		12,656
Effect of dilutive securities:
Unvested, restricted stock awards		71		131		94		152
Diluted - Average shares outstanding		12,768		12,788		12,776		12,808

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 nine months ended March 31, 2016 and 2015, respectively.

Performance stock units of 30,850 and 28,111 for the nine months ended March 31, 2016 and 2015, respectively, are excluded from the diluted earnings per share calculation as the performance criteria have not been met.