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Note 3: Earnings Per Share
 3 Months Ended
Dec. 31, 2012
Notes  
Note 3: Earnings Per Share

Note 3: Earnings Per Share

 

Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period.  Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the earnings of the entity. 

 

As of December 31, 2012 and 2011, there were outstanding options to purchase 1,138,500 shares and 1,187,000 shares of the Corporation’s common stock, respectively, of which 586,500 shares and 594,000 shares, respectively, were excluded from the diluted EPS computation as their effect was anti-dilutive.

 

The following table provides the basic and diluted EPS computations for the quarters and six months ended December 31, 2012 and 2011, respectively.

 

 

 

 

 

For the Quarter Ended

 

For the Six Months Ended

 

December 31,

 

December 31,

 

2012

 

2011

 

2012

 

2011

(In Thousands, Except Share Information)

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

  Net income – numerator for basic earnings

 

 

 

 

 

 

 

    per share and diluted earnings per share -

 

 

 

 

 

 

 

    available to common stockholders

$6,940

 

$1,854

 

$15,670

 

$4,172

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

  Denominator for basic earnings per share:

 

 

 

 

 

 

 

    Weighted-average shares

10,654

 

11,353

 

10,727

 

11,410

 

 

 

 

 

 

 

 

  Effect of dilutive securities

223

 

31

 

197

 

39

 

 

 

 

 

 

 

 

  Denominator for diluted earnings per share:

 

 

 

 

 

 

 

    Adjusted weighted-average shares and assumed

 

 

 

 

 

 

 

   conversions

10,877

 

11,384

 

10,924

 

11,449

 

 

 

 

 

 

 

 

Basic earnings per share

$0.65 

 

$0.16      

 

$1.46     

 

$0.37      

Diluted earnings per share

$0.64

 

$0.16

 

$1.43

 

$0.36