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Net Income Per Common Share
 9 Months Ended
Mar. 31, 2021
Net Income Per Common Share  
Net Income per Common Share

3. NET INCOME PER COMMON SHARE

 

Basic net income per common share is computed using the weighted-average number of shares of common stock outstanding. In periods where net income is reported, the weighted-average number of shares is increased by warrants and options in the money to calculate diluted net income per common share.

 

The following table represents the calculation of basic and diluted net income per common share (unaudited, in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

March 31, 

 

March 31, 

 

 

2021

 

2020

 

2021

 

2020

Net income

    

$

1,261

    

$

1,867

 

$

4,911

    

$

5,057

Per share information:

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.04

 

$

0.06

 

$

0.16

 

$

0.17

Diluted

 

$

0.04

 

$

0.06

 

$

0.15

 

$

0.16

Weighted-average shares used in computation:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

31,068

 

 

30,662

 

 

30,962

 

 

30,580

Effect of dilutive options

 

 

1,550

 

 

1,325

 

 

1,684

 

 

1,355

Diluted

 

 

32,618

 

 

31,987

 

 

32,646

 

 

31,935

 

Weighted-average shares of stock options to purchase 322,088 and 663,821 shares of common stock for the three months ended March 31, 2021 and 2020, respectively, and weighted-average shares of stock options to purchase 283,600 and 615,649 shares of common stock for the nine months ended March 31, 2021 and 2020, respectively, were not included in the computation of diluted net income per common share due to their anti-dilutive effect. Such securities could have a dilutive effect in future periods.