)

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				Nine Months Ended
	March 31 ,				March 31 ,
	201 8		201 7		201 8		201 7
Basic - Average shares outstanding		12,709		12,664		12,695		12,667
Dilutive effect of unvested, restricted stock awards		88		94		89		105
Diluted - Average shares outstanding		12,797		12,758		12,784		12,772

During the

fourth

quarter of fiscal

2017,

the Company adopted Accounting Standards Update (ASU)

2016

which required a prospective update to the treasury method of calculating weighted average diluted shares outstanding resulting in the inclusion of additional shares in diluted EPS calculation for the

three

and

nine

months ended

March 31, 2017.

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, 2018

and

2017,

respectively.

Performance stock units of

51,270

and

29,607

for the

nine

months ended

March 31, 2018

and

2017,

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

not

been met.