v2.4.0.6
Note 3 - Earnings Per Share (in thousands, except per share data)
 3 Months Ended
Sep. 30, 2011
Earnings Per Share [Text Block]
3.           Earnings Per Share (in thousands, except per share data)

A reconciliation of the basic and diluted earnings per share is as follows:

   
Three months ended
September 30,
 
   
2011
   
2010
 
   
(Restated)
   
(Restated)
 
Weighted average common shares outstanding – basic
    22,218       22,056  
Dilutive effect of stock options and unvested restricted stock units
    459       500  
Weighted Average common shares outstanding – diluted
    22,677       22,556  
                 
Net income
  $ 5,458     $ 4,392  
Earnings per common share
               
Basic
  $ 0.25     $ 0.20  
Diluted
  $ 0.24     $ 0.19  

Certain shares of common stock were excluded from the computation of diluted earnings per share because the options exercise prices were greater than the average market price of the common shares, and therefore, the effect would be anti-dilutive. A summary of those options follows:

   
Three months ended
September 30,
 
   
2011
   
2010
 
             
Number of anti-dilutive shares
    816       245