Note 12 - Earnings Per Share

6 Months Ended

Dec. 31, 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				Six Months Ended
	December 31,				December 31,
	2017		2016		2017		2016
Basic - Average shares outstanding		12,704		12,659		12,689		12,668
Dilutive effect of unvested, restricted stock awards		-		102		89		110
Diluted - Average shares outstanding		12,704		12,761		12,778		12,778

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, 2017

and

2016,

respectively.

Performance stock units of

40,936

and

29,607

for the

six

months ended

December 31, 2017

and

2016,

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

not

been met.