Note 3 - Earnings Per Share (in thousands, except per share data)

6 Months Ended

Dec. 31, 2011

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 December 31,				Six months ended December 31,
	2011		2010		2011		2010
	(Restated)		(Restated)		(Restated)		(Restated)
Weighted average common shares outstanding – basic		22,248		22,051		22,233		22,054
Dilutive effect of stock options and unvested restricted stock units		449		518		454		509
Weighted average common shares outstanding – diluted		22,697		22,569		22,687		22,563

Net income	$	5,455	$	3,126	$	10,913	$	7,518
Earnings per common share
Diluted	$	0.24	$	0.14	$	0.48	$	0.33
Basic	$	0.25	$	0.14	$	0.49	$	0.34

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 December 31,				Six months ended December 31,
	2011		2010		2011		2010

Number of anti-dilutive shares		811		5		813		125

- Definition

The entire disclosure for earnings per share.

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