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NET INCOME PER SHARE | 12 Months Ended
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Jun. 30, 2019
Earnings Per Share [Abstract] |
NET INCOME PER SHARE | 11. NET INCOME PER SHARE We calculate basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the effects of potentially dilutive securities. The summary of the basic and diluted earnings per share calculations for the years ended June 30, 2019 and 2018 is as follows (in thousands, except per share data):
|  | Years Ended June 30, |
|  | 2019 |  |  | 2018 |
Basic: |  |  |  |  |  |  |  |
Net income |  | $ | 4,148 |  |  | $ | 1,621 |
Weighted average shares outstanding |  |  | 4,192 |  |  |  | 4,305 |
Basic earnings per share |  | $ | 0.99 |  |  | $ | 0.38 |
Diluted: |  |  |  |  |  |  |  |
Net income |  | $ | 4,148 |  |  | $ | 1,621 |
Weighted average shares outstanding |  |  | 4,192 |  |  |  | 4,305 |
Effect of dilutive securities – stock options & performance awards |  |  | 106 |  |  |  | 40 |
Weighted average shares used in calculation of diluted earnings per share |  |  | 4,298 |  |  |  | 4,345 |
Diluted earnings per share |  | $ | 0.97 |  |  | $ | 0.37

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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 + Details
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