Note 13 - Earnings Per Share

9 Months Ended

Mar. 31, 2017

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				Nine Months Ended
	March 31,				March 31,
	201 7		201 6		201 7		201 6
Basic - Average shares outstanding		12,664		12,697		12,667		12,682
Dilutive effect of unvested, restricted stock awards		87		71		99		94
Diluted - Average shares outstanding		12,751		12,768		12,766		12,776

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

nine

months ended

March

31,

2017

and

2016,

respectively.

Performance stock units of

29,607

and

28,111

for the

nine

months ended

March

31,

2017

and

2016,

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