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Note 13 - Earnings Per Share
 9 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

13)     Earnings Per Share

 

The Company uses shares acquired through treasury stock repurchases for the issuance of shares of common stock for the settlement of awards under its stock-based compensation plans, with the net effect of these transactions accounting for the change in common stock outstanding.

 

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,

 
  

2024

  

2023

  

2024

  

2023

 

Basic - Average shares outstanding

  11,772   11,811   11,764   11,825 

Dilutive effect of unvested, restricted stock awards

  77   84   112   92 

Diluted - Average shares outstanding

  11,849   11,895   11,876   11,917 

 

Earnings available to common stockholders are the same for computing both basic and diluted earnings per share. There were no outstanding instruments that had an anti-dilutive effect at March 31, 2024 or 2023.

 

Performance stock units of 87,956 and 132,217 for the nine months ended  March 31, 2024 and 2023, respectively, are excluded from the diluted earnings per share calculation as the performance criteria have not been met.