Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Earnings Per Share

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Note 7 - Earnings Per Share
 3 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Earnings Per Share [Text Block]
Note
7.
Earnings
Per
Share:
 
The following table reflects the calculation of basic and diluted earnings per share
(in thousands, except per share amounts):
 
   
Quarter Ended
September 30,
  
   
2017
    
2016
  
Earnings per share
– basic:
                
Net Income
   $
15,863
     $
18,843
  
Income allocated to participating securities
    
(10
)
    
(13
)
Income available to common shareholders
   $
15,853
     $
18,830
  
Weighted-average shares
outstanding
    
37,376
      
37,281
  
Earnings per share-basic
   $
0.42
     $
0.51
  
                 
Earnings per share
– diluted:
                
Net Income
   $
15,863
     $
18,843
  
Income allocated to participating securities
    
(10
)
    
(13
)
Income available to common shareholders
   $
15,853
     $
18,830
  
Weighted average common shares outstanding-basic
    
37,376
      
37,281
  
Dilutive effect of stock options and restricted stock units
    
329
      
192
  
W
eighted average common shares outstanding-diluted
    
37,705
      
37,473
  
Earnings per share-diluted
   $
0.42
     $
0.50
  
 
The dilutive effect of stock options and restricted stock units in the above table excludes all options for which the aggregate exercise proceeds exceeded the average market price for the period.
The number of potentially dilutive option shares excluded from the calculation was
1
.3
million and
1.2
million for the quarter ended
September 30, 2017
and
2016,
respectively.