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Earnings Per Share

12 Months Ended

Jun. 30, 2019

NOTE 4 – EARNINGS PER SHARE

Basic earnings per share are computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.

The components of basic and diluted earnings per share were as follows:

	For the year ended June 30, 2019
	Net Income		Shares		Per Share
Basic income per share:
Net income available to common shareholders	$	8,583,399		11,599,290	$	0.74
Effect of dilutive securities
Stock options		-		4,418		-
Share grants		-		18,282		-
Diluted income per share	$	8,583,399		11,621,990	$	0.74

	For the year ended June 30, 2018
	Net Income		Shares		Per Share

Basic income per share:
Net income available to common shareholders	$	4,306,888		11,197,319	$	0.38
Effect of dilutive securities
Stock options		-		-		-
Share grants		-		-		-
Diluted income per share	$	4,306,888		11,197,319	$	0.38