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Note 14 - Earnings Per Share
 12 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 14. EARNINGS PER SHARE

 

The following table sets forth the computation for basic and diluted earnings per share (EPS):

  

Year Ended June 30,

 
  2023  2022 

(dollars in thousands, except per share data)

        

Net Income

 $3,149  $3,440 
         

Weighted average number of outstanding shares

        

Basic

  14,638,833   15,010,138 

Effect of dilutive securities:

        

Stock options

  236   990 

Diluted

  14,639,069   15,011,128 
         

Earnings Per Share

        

Basic Net Income per Share

 $0.22  $0.23 

Diluted Net Income per Share

 $0.22  $0.23 

 

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, 2023, and 2022, 229,000 and 231,000 employee stock options were excluded from diluted EPS.

 

During fiscal years 2023 and 2022, 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.