Note 13 - Earnings Per Share

6 Months Ended

Dec. 31, 2016

13)

Earnings Per Share

Basic earnings per common share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributable to unvested stock units outstanding, if dilutive.

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				Six Months Ended
	December 31,				December 31,
	2016		2015		2016		2015
Basic - Average shares outstanding		12,659		12,692		12,668		12,675
Dilutive effect of unvested, restricted stock awards		95		99		104		102
Diluted - Average shares outstanding		12,754		12,791		12,772		12,777

Earnings available to common stockholders are the same for computing both basic and diluted earnings per share.

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,

2016

and

2015,

respectively.

Performance stock units of

29,607

and

30,764

for the

six

months ended

December

31,

2016

and

2015,

respectively, are excluded from the diluted earnings per share calculation as the performance criteria have not been met.