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Net Income Per Share

3 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

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

	Three Months Ended September 30,
	2018				2017
Numerator
Net income available to common shareholders	$	5,795,801			$	2,140,532
Denominator
Weighted average number of common shares — Basic	33,102,292				33,089,244
Effect of dilutive securities:
Contingent restricted stock grants	16,765				58,264
Weighted average number of common shares and potentially dilutive common shares used in diluted EPS	33,119,057				33,147,508
Net income per common share — Basic	$	0.18			$	0.06
Net income per common share — Diluted	$	0.17			$	0.06

Outstanding potentially dilutive securities as of September 30, 2018 were as follows:

Outstanding Potentially Dilutive Securities	Weighted Average Exercise Price				At September 30, 2018
Contingent Restricted Stock grants	$	—			10,156

Outstanding potentially dilutive securities as of September 30, 2017 were as follows:

Outstanding Potentially Dilutive Securities	Weighted Average Exercise Price				At September 30, 2017
Contingent Restricted Stock grants	$	—			94,244

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

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