v2.4.0.6
Note 2 - Earnings Per Share
 9 Months Ended
Mar. 31, 2013
Earnings Per Share [Text Block]
2.             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 March 31,
   
Nine months ended March 31,
 
   
2013
   
2012
   
2013
   
2012
 
                         
Weighted average common shares outstanding – basic
    22,730       22,235       22,567       22,234  
Dilutive effect of stock options and unvested restricted stock units
    792       739       751       549  
Weighted average common shares outstanding – diluted
    23,522       22,974       23,318       22,783  
                                 
Net income
  $ 4,378     $ 5,658     $ 20,020     $ 16,571  
Earnings per common share
                               
Diluted
  $ 0.19     $ 0.25     $ 0.86     $ 0.73  
Basic
  $ 0.19     $ 0.25     $ 0.89     $ 0.75  

Certain shares of common stock were excluded from the computation of diluted earnings per share because the option 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
March 31,
   
Nine months ended
March 31,
 
   
2013
   
2012
   
2013
   
2012
 
                         
Number of anti-dilutive shares
    0       91       54       573