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Earnings Per Share

6 Months Ended

Dec. 31, 2024

Earnings Per Share

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 Corporation.

As of December 31, 2024 and 2023, there were outstanding stock options to purchase 223,000 shares and 430,000 shares of the Corporation’s common stock, respectively. As of December 31, 2024 and 2023, there were 95,000 and 402,000 outstanding stock options, respectively, excluded from the diluted EPS computation as their effect was anti-dilutive. As of December 31, 2024 and 2023, there were outstanding restricted stock awards of 162,200 shares and 51,000 shares, respectively.

The following table provides the basic and diluted EPS computations for the quarters and six months ended December 31, 2024 and 2023, respectively.


		For the Quarter Ended						For the Six Months Ended
		December 31,						December 31,
(In Thousands, Except Earnings Per Share)		2024			2023			2024			2023
Numerator:
Net income – numerator for basic earnings per share and
diluted earnings per share - available to common
stockholders		$	872		$	2,141		$	2,772		$	3,903

Denominator:
Denominator for basic earnings per share:
Weighted-average shares			6,745			6,969			6,789			6,993

Less effect of dilutive shares:
Stock options			13			—			6			—
Restricted stock			35			12			33			11

Denominator for diluted earnings per share:
Adjusted weighted-average shares and assumed
conversions			6,793			6,981			6,828			7,004

Basic earnings per share		$	0.13		$	0.31		$	0.41		$	0.56
Diluted earnings per share		$	0.13		$	0.31		$	0.41		$	0.56