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Net Income Per Share (Tables)

3 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted income per share

The following table sets forth the computation of basic and diluted income per share:

	Three Months Ended September 30,
	2016				2015
Numerator
Net income available to common shareholders	$	563,345			$	2,923,652
Denominator
Weighted average number of common shares — Basic	32,957,010				32,718,244
Effect of dilutive securities:
Contingent restricted stock grants	28,845				6,788
Stock options	21,744				49,144
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	33,007,599				32,774,176
Net income per common share — Basic	$	0.02			$	0.09
Net income per common share — Diluted	$	0.02			$	0.09

Schedule of outstanding potentially dilutive securities

Outstanding potentially dilutive securities as of September 30, 2016 were as follows:

Outstanding Potentially Dilutive Securities		Weighted Average Exercise Price				At September 30, 2016
Contingent Restricted Stock grants (a)		$	—			113,270
Stock Options		2.19				35,231
		$	0.52			148,501

Outstanding potentially dilutive securities as of September 30, 2015 were as follows:

Outstanding Potentially Dilutive Securities		Weighted Average Exercise Price				At September 30, 2015
Contingent Restricted Stock grants (a)		$	—			17,961
Stock Options		2.40				85,231
		$	1.98			103,192

(a) Contingent Restricted Stock grants for which vesting is not considered probable for accounting purposes are excluded from potentially dilutive securities outstanding.

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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