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Earnings per Share (EPS)
 12 Months Ended
Jun. 30, 2013
Earnings per Share (EPS)  
Earnings per Share (EPS)

NOTE K - EARNINGS PER SHARE:

 

The Company computes and presents earnings per share (“EPS”) in accordance with the authoritative guidance on Earnings Per Share.  Basic EPS excludes the effect of potentially dilutive securities while diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised, converted or resulted in the issuance of common stock that then shared in the earnings of the entity.

 

The following table shows the reconciliation of the numerator and denominator of the basic EPS calculation to the numerator and denominator of the diluted EPS calculation (in thousands, except per share amounts).

 

 

 

Year Ended

 

 

 

June 30,

 

 

June 24,

 

 

 

2013

 

 

2012

 

Income (loss) from continuing operations

 

$

(1,121

)

 

$

383

 

Discontinued operations

 

 

(140

)

 

 

(61

)

Net income (loss) available to common stockholders

 

$

(1,261

)

 

$

322

 

 

 

 

 

 

 

 

 

 

BASIC:

 

 

 

 

 

 

 

 

Weighted average common shares

 

 

8,031

 

 

 

8,017

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations per share

 

$

(0.14

)

 

$

0.05

 

Discontinued operations per common share

 

 

(0.02

)

 

 

(0.01

)

Net income (loss) per common share

 

$

(0.16

)

 

$

0.04

 

 

 

 

 

 

 

 

 

 

DILUTED:

 

 

 

 

 

 

 

 

Weighted average common shares

 

 

8,031

 

 

 

8,017

 

Stock options

 

 

279

 

 

 

177

 

Weighted average common shares outstanding

 

 

8,310

 

 

 

8,194

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations per share

 

$

(0.13

)

 

$

0.05

 

Discontinued operations per common share

 

 

(0.02

)

 

 

(0.01

)

Net income (loss) per common share

 

$

(0.15

)

 

$

0.04

 

 

At June 30, 2013, options to purchase 75,000 shares of common stock at an exercise price of $5.51 were not included in the computation of diluted EPS because the options’ exercise price was greater than the average market price of the common shares during the year.