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Note 13 - Earnings Per Share | 12 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Earnings Per Share [Text Block] | NOTE 13. EARNINGS PER SHARE The following table sets forth the computation for basic and diluted earnings per share (EPS):
|  | Year Ended June 30, |
(dollars in thousands, except per share data) |  | 2022 |  |  | 2021 |
Net Income |  | $ | 5,499 |  |  | $ | 31,961 |
Weighted average number of outstanding shares |  |  |  |  |  |  |  |
Basic |  |  | 15,010,138 |  |  |  | 15,067,044 |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Stock options |  |  | 990 |  |  |  | 909 |
Diluted |  |  | 15,011,128 |  |  |  | 15,067,953 |
Earnings Per Share |  |  |  |  |  |  |  |
Basic Net Income per Share |  | $ | 0.37 |  |  | $ | 2.12 |
Diluted Net Income per Share |  | $ | 0.37 |  |  | $ | 2.12 |
The diluted EPS calculation excludes the effect of stock options when their exercise prices exceed the average market price for the period. For the years ended June 30, 2022, and 2021, 231,000 employee stock options were excluded from diluted EPS. During fiscal years 2022 and 2021, the Company repurchased class A shares on the open market. Repurchased shares are classified as treasury shares and are deducted from outstanding shares in the earnings per share calculation.

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