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Note 9 - Earnings Per Share
 9 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 9. EARNINGS PER SHARE

 

The basic earnings per share (“EPS”) calculation excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution of EPS that could occur if options to issue common stock were exercised.

 

The following table sets forth the computation for basic and diluted EPS.

 

  

Nine Months Ended

  

Three Months Ended

 
  

March 31,

  

March 31,

 

(dollars in thousands, except per share data)

 

2025

  

2024

  

2025

  

2024

 

Net Income (Loss)

 $(153) $1,018  $(382) $(35)
                 

Weighted average number of outstanding shares

                

Basic

  13,414,873   14,278,691   13,023,636   14,077,042 

Effect of dilutive securities

                

Stock options

  3,168   86   805   - 

Diluted

  13,418,041   14,278,777   13,024,441   14,077,042 
                 

Earnings (Loss) Per Share

                

Basic Net Income (Loss) per share

 $(0.01) $0.07  $(0.03) $(0.00)

Diluted Net Income (Loss) per share

 $(0.01) $0.07  $(0.03) $(0.00)

 

 

The diluted EPS calculation excludes the effect of stock options when their exercise prices exceed the average market price for the period, as their inclusion would be anti-dilutive. For the three and nine months ended March 31, 2025, employee stock options of 330,100 and 230,000, respectively, were excluded from diluted EPS. For the three and nine months ended March 31, 2024, employee stock options of 231,000 and 229,000, respectively, were excluded from diluted EPS. 

 

During the three and nine months ended March 31, 2025, and 2024, the Company repurchased class A shares on the open market. Upon repurchase, these shares are classified as treasury shares and are deducted from outstanding shares in the earnings per share calculation.