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Earnings Per Share

9 Months Ended

Mar. 31, 2019

Note (4) - Earnings Per Share: The Company computes earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. Shares of the Company’s common stock subject to unvested restricted stock awards and restricted stock units are considered participating securities because they contain a non-forfeitable right to cash dividends or dividend equivalents paid prior to vesting or forfeiture, if any, irrespective of whether the awards or units ultimately vest. Basic and diluted earnings per share for the nine and three months ended March 31, 2019 and 2018 are computed as follows (in thousands, except per share data):

	For the nine months ended March 31,				For the three months ended March 31,
	2019 (Unaudited)		2018 (Unaudited)		2019 (Unaudited)		2018 (Unaudited)

Net income	$	2,527	$	3,209	$	466	$	1,136
Less: distributed and undistributed income allocated to unvested restricted common stock		181		243		33		86
Net income allocated to EVI Industries, Inc. shareholders	$	2,346	$	2,966	$	433	$	1,050
Weighted average shares outstanding used in basic earnings per share		11,463		10,728		11,666		11,020
Dilutive common share equivalents		497		417		479		499
Weighted average shares outstanding used in diluted earnings per share		11,960		11,145		12,145		11,519
Basic earnings per share	$	0.20	$	0.28	$	0.04	$	0.10
Diluted earnings per share	$	0.20	$	0.27	$	0.04	$	0.09

At March 31, 2019 and 2018, other than 909,277 shares and 919,224 shares, respectively, of unvested common stock subject to restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding.