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NET INCOME PER SHARE | 12 Months Ended
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Jun. 30, 2022
Earnings Per Share [Abstract] |
NET INCOME PER SHARE |
| 13. | 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, 2022 and 2021 is as follows (in thousands, except per share data):
Schedule of weighted average shares outstanding calculation of basic and diluted per share |  |  |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2022 |  |  | 2021 |
Basic: |  |  |  |  |  |  |  |
Net income |  | $ | 3,855 |  |  | $ | 5,821 |
Weighted-average shares outstanding |  |  | 3,636 |  |  |  | 3,797 |
Basic earnings per share |  | $ | 1.06 |  |  | $ | 1.53 |
Diluted: |  |  |  |  |  |  |  |
Net income |  | $ | 3,855 |  |  | $ | 5,821 |
Weighted-average shares outstanding |  |  | 3,636 |  |  |  | 3,797 |
Effect of dilutive securities – stock options & performance awards |  |  | 127 |  |  |  | 139 |
Weighted-average shares used in calculation of diluted earnings per share |  |  | 3,763 |  |  |  | 3,936 |
Diluted earnings per share |  | $ | 1.02 |  |  | $ | 1.48 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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