Earnings per Common Share (Notes)

3 Months Ended

Sep. 30, 2013

Basic earnings per share (“Basic EPS”) is calculated based on the weighted average shares outstanding during the period. Diluted earnings per share (“Diluted EPS”) includes the dilutive effect of stock options and nonvested deferred shares.

The computation of basic and diluted earnings per share is as follows:



	Three Months Ended
	September 30, 2013		September 30, 2012
	(In thousands, except per share data)
Basic EPS:
Net income	$	6,552	$	4,684
Weighted average shares outstanding	26,116		25,788
Basic EPS	$	0.25	$	0.18
Diluted EPS:
Weighted average shares outstanding – basic	26,116		25,788
Dilutive stock options	137		70
Dilutive nonvested deferred shares	394		290
Diluted weighted average shares	26,647		26,148
Diluted EPS	$	0.25	$	0.18

The following securities are considered antidilutive and have been excluded from the calculation of Diluted EPS:



	Three Months Ended
	September 30, 2013	September 30, 2012
	(In thousands)
Stock options	—	327
Nonvested deferred shares	60	32
Total antidilutive securities	60	359

- Definition

The entire disclosure for earnings per share.

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