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Net Income Per Share (Tables)

9 Months Ended

Mar. 31, 2018

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 March 31,								Nine Months Ended March 31,
	2018				2017				2018				2017
Numerator
Net income available to common shareholders	$	3,068,354			$	2,419,143			$	15,085,734			$	5,290,122
Denominator
Weighted average number of common shares — Basic	33,171,514				33,062,297				33,123,185				33,021,865
Effect of dilutive securities:
Contingent restricted stock grants	19,798				27,216				32,685				17,860
Stock options	—				26,186				—				24,983
Weighted average number of common shares and potentially dilutive common shares used in diluted EPS	33,191,312				33,115,699				33,155,870				33,064,708
Net income per common share — Basic	$	0.09			$	0.07			$	0.46			$	0.16
Net income per common share — Diluted	$	0.09			$	0.07			$	0.45			$	0.16

Schedule of outstanding potentially dilutive securities

Outstanding potentially dilutive securities as of March 31, 2018 were as follows:

Outstanding Potentially Dilutive Securities	Weighted Average Exercise Price			At March 31, 2018
Contingent Restricted Stock grants	—			61,868

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

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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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