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v3.23.3

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Jun. 30, 2023
Accounting Policies [Abstract] |
Schedule of Costs, Estimated Earnings and Billings on Longer-Term Contracts | Costs, estimated earnings and billings on longer-term contracts when the cost-to-cost method of revenue recognition is utilized as of June 30, 2023 and 2022 consisted of the following (in thousands):
June 30, |  | 2023 |  | 2022
Costs incurred on uncompleted contracts |  | $ | 13,378 |  |  | $ | 6,143 |
Estimated earnings |  |  | 2,268 |  |  |  | 652 |
Less: billings to date |  |  | (16,148 | ) |  |  | (7,270 | )
Retainage |  |  | 1,015 |  |  |  | 1,487 |
Ending balance |  | $ | 513 |  |  | $ | 1,012 |
Schedule of Company’s Consolidated Balance Sheets | These amounts are included in the Company’s consolidated balance sheets under the following captions (in thousands):
June 30, |  | 2023 |  | 2022
Contract assets |  | $ | 1,181 |  |  | $ | 1,519 |
Contract liabilities |  |  | (668 | ) |  |  | (507 | )
Ending balance |  | $ | 513 |  |  | $ | 1,012 |
Schedule of Basic and Diluted Earnings per Share | Basic and diluted earnings per share for fiscal 2023 and fiscal 2022 are computed as follows
|  | For the years ended June 30,
|  | 2023 |  | 2022
Net income |  | $ | 9,719 |  |  | $ | 4,095 |
Less: distributed and undistributed income allocated to non-vested restricted common stock |  |  | 1,193 |  |  |  | 423 |
Net income allocated to EVI Industries, Inc. shareholders |  | $ | 8,526 |  |  | $ | 3,672 |
Weighted average shares outstanding used in basic earnings per share |  |  | 12,553 |  |  |  | 12,367 |
Dilutive common share equivalents |  |  | 251 |  |  |  | 283 |
Weighted average shares outstanding used in diluted earnings per share |  |  | 12,804 |  |  |  | 12,650 |
Basic earnings per share |  | $ | 0.68 |  |  | $ | 0.30 |
Diluted earnings per share |  | $ | 0.67 |  |  | $ | 0.29 |

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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