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Earnings Per Share
 6 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share

Note (5) - 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 (in the case of restricted stock awards) or dividend equivalents (in the case of restricted stock units) 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 six and three months ended December 31, 2024 and 2023 are computed as follows (in thousands, except per share data):

 

   For the six months ended
December  31,		   For the three months ended
December  31,		 
   2024
(Unaudited)		   2023
(Unaudited)		   2024
(Unaudited)		   2023
(Unaudited)		 
                 
Net income  $4,360   $2,623   $1,129   $1,341 
Less: distributed and undistributed income allocated to unvested restricted common stock   617    336    160    172 
Net income allocated to EVI Industries, Inc. shareholders  $3,743   $2,287   $969   $1,169 
Weighted average shares outstanding used in basic earnings per share   12,712    12,621    12,739    12,659 
Dilutive common share equivalents   412    624    443    614 
Weighted average shares outstanding used in diluted earnings per share   13,124    13,245    13,182    13,273 
Basic earnings per share  $0.29   $0.18   $0.08   $0.09 
Diluted earnings per share  $0.29   $0.17   $0.07   $0.09 

During the six and three months ended December 31, 2024, other than 703,109 and 602,995 shares, respectively, of common stock subject to unvested restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding. During the six and three months ended December 31, 2023, other than 287,338 and 355,964 shares, respectively, of common stock subject to unvested restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding.