Note 13 - Earnings Per Share

3 Months Ended

Sep. 30, 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
	September 3 0 ,
	2016		2015
Basic - Average shares outstanding		12,674		12,660
Effect of dilutive securities:
Unvested, restricted stock awards		114		103
Diluted - Average shares outstanding		12,788		12,763

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 months ended September 30, 2016 and 2015, respectively.

Performance stock units of 29,607 and 33,653 for the three months ended September 30, 2016 and 2015, respectively, are excluded from the diluted earnings per share calculation as the performance criteria have not been met.