Net Income Per Share

9 Months Ended

Mar. 31, 2017

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



	Three Months Ended March 31,					Nine Months Ended March 31,
	2017		2016			2017		2016
Numerator
Net income (loss) available to common shareholders	$	2,419,143	$	(298,183	)	$	5,290,122	$	3,280,166
Denominator
Weighted average number of common shares — Basic	33,062,297		32,879,381			33,021,865		32,779,234
Effect of dilutive securities:
Contingent restricted stock grants	27,216		—			17,860		8,418
Stock options	26,186		—			24,983		47,113
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	33,115,699		32,879,381			33,064,708		32,834,765

Net income (loss) per common share — Basic	$	0.07	$	(0.01	)	$	0.16	$	0.10
Net income (loss) per common share — Diluted	$	0.07	$	(0.01	)	$	0.16	$	0.10

Outstanding potentially dilutive securities as of March 31, 2017 were as follows:



Outstanding Potentially Dilutive Securities	Weighted Average Exercise Price		At March 31, 2017
Contingent Restricted Stock grants	$	—	113,270
Stock Options	2.19		35,231
Total outstanding potentially dilutive securities	$	0.52	148,501

Outstanding potentially dilutive securities as of March 31, 2016 were as follows:



Outstanding Potentially Dilutive Securities	Weighted Average Exercise Price		At March 31, 2016
Contingent Restricted Stock grants	$	—	91,172
Stock Options	2.36		65,231
Total outstanding potentially dilutive securities	$	0.98	156,403