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Earnings Per Share

9 Months Ended

Mar. 31, 2025

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 March 31, 2025 and 2024, there were outstanding stock options to purchase 223,000 shares and 410,000 shares of the Corporation’s common stock, respectively. As of March 31, 2025 and 2024, there were 105,000 and 382,000 outstanding stock options, respectively, excluded from the diluted EPS computation as their effect was anti-dilutive. As of March 31, 2025 and 2024, there were outstanding restricted stock awards of 137,150 shares and 51,000 shares, respectively.

The following table provides the basic and diluted EPS computations for the quarters and nine months ended March 31, 2025 and 2024, respectively.


		For the Quarter Ended						For the Nine Months Ended
		March 31,						March 31,
(In Thousands, Except Earnings Per Share)		2025			2024			2025			2024
Numerator:
Net income – numerator for basic earnings per share and
diluted earnings per share - available to common
stockholders		$	1,857		$	1,495		$	4,629		$	5,398

Denominator:
Denominator for basic earnings per share:
Weighted-average shares			6,680			6,919			6,753			6,968

Less effect of dilutive shares:
Stock options			9			—			7			—
Restricted stock			44			16			37			13

Denominator for diluted earnings per share:
Adjusted weighted-average shares and assumed
conversions			6,733			6,935			6,797			6,981

Basic earnings per share		$	0.28		$	0.22		$	0.69		$	0.77
Diluted earnings per share		$	0.28		$	0.22		$	0.68		$	0.77