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Net Income Per Share
 12 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
The following table sets forth the computation of basic and diluted net income per share:
 
June 30,
 
2016
 
2015
 
2014
Numerator
 
 
 
 
 
Net income attributable to common shareholders
$
23,986,060

 
$
4,317,555

 
$
2,923,011

Denominator
 
 
 
 
 
Weighted average number of common shares – Basic
32,810,375

 
32,817,456

 
30,895,832

Effect of dilutive securities:
 
 
 
 
 
Contingent restricted stock grants
9,378

 
4,422

 
—

Stock Options
41,478

 
102,140

 
1,668,235

Total weighted average dilutive securities
50,856

 
106,562

 
1,668,235

Weighted average number of common shares and dilutive potential common shares used in diluted EPS
32,861,231

 
32,924,018

 
32,564,067

Net income per common share – Basic
$
0.73

 
$
0.13

 
$
0.09

Net income per common share – Diluted
$
0.73

 
$
0.13

 
$
0.09


The following were reflected in the calculation of diluted earnings per share as of June 30, 2016:
Outstanding Potential Dilutive Securities
Weighted
Average
Exercise Price
 
Outstanding at
June 30, 2016
Contingent Restricted Stock grants
$
—

 
91,172

Stock Options
2.19

 
35,231

Total
$
0.61

 
126,403


The following were reflected in the calculation of diluted earnings per share as of June 30, 2015:
Outstanding Potential Dilutive Securities
Weighted
Average
Exercise Price
 
Outstanding at
June 30, 2015
Contingent Restricted Stock grants
$
—

 
56,286

Stock Options
$
2.50

 
91,061

Total
$
1.55

 
147,347


The following were reflected in the calculation of diluted earnings per share as of June 30, 2014:
Outstanding Potential Dilutive Securities
Weighted
Average
Exercise Price
 
Outstanding at
June 30, 2014
Stock Options
$
2.08

 
178,061