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Net Income Per Share (Tables)

12 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted income (loss) per share

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

	June 30,
	2017				2016				2015
Numerator
Net income attributable to common shareholders	$	6,790,883			$	23,986,060			$	4,317,555
Denominator
Weighted average number of common shares – Basic	33,034,480				32,810,375				32,817,456
Effect of dilutive securities:
Contingent restricted stock grants	53,546				9,378				4,422
Stock Options	22,534				41,478				102,140
Total weighted average dilutive securities	76,080				50,856				106,562
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	33,110,560				32,861,231				32,924,018
Net income per common share – Basic	$	0.21			$	0.73			$	0.13
Net income per common share – Diluted	$	0.21			$	0.73			$	0.13

Schedule of outstanding potentially dilutive securities

The following were reflected in the calculation of diluted earnings per share as of June 30, 2017:

Outstanding Potential Dilutive Securities	Weighted Average Exercise Price				Outstanding at June 30, 2017
Contingent Restricted Stock grants	$	—			113,270

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

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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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