Note 13 - Earnings Per Share

3 Months Ended

Sep. 30, 2017

)

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 ,
	201 7		201 6
Basic - Average shares outstanding		12,676		12,674
Effect of dilutive securities:
Unvested, restricted stock awards		92		120
Diluted - Average shares outstanding		12,768		12,794

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

months ended

September 30, 2017

and

2016,

respectively.

Performance stock units of

54,893

and

29,607

for the

three

months ended

September 30, 2017

and

2016,

respectively, are excluded from the diluted earnings per share calculation as the performance criteria have

not

been met.