Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Earnings Per Share

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Note 7 - Earnings Per Share
9 Months Ended
Mar. 31, 2018
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
   
Nine
Months
Ended
 
   
March 31,
   
March 31,
 
   
2018
   
2017
   
2018
   
2017
 
Earnings per share – basic:
                               
Net income
  $
19,738
    $
22,167
    $
84,449
    $
48,476
 
Income allocated to participating securities
   
(18
)
   
(20
)
   
(70
)
   
(42
)
Income available to common shareholders
  $
19,720
    $
22,147
    $
84,379
    $
48,434
 
Weighted-average shares outstanding – basic
   
37,503
     
37,320
     
37,450
     
37,303
 
Earnings per share – basic
  $
0.53
    $
0.59
    $
2.25
    $
1.30
 
                                 
Earnings per share – diluted:
                               
Net income
  $
19,738
    $
22,167
    $
84,449
    $
48,476
 
Income allocated to participating securities
   
(18
)
   
(20
)
   
(70
)
   
(42
)
Income available to common shareholders
  $
19,720
    $
22,147
    $
84,379
    $
48,434
 
Weighted-average shares outstanding – basic
   
37,503
     
37,320
     
37,450
     
37,303
 
Dilutive effect of stock options and restricted stock units
   
639
     
174
     
483
     
183
 
Weighted-average common shares outstanding – diluted
   
38,142
     
37,494
     
37,933
     
37,486
 
Earnings per share – diluted
  $
0.52
    $
0.59
    $
2.22
    $
1.29
 
 
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
1.1
million and
2.0
million for the quarter ended
March 31, 2018
and
2017,
respectively and
1.6
million and
1.9
million for the
nine
months ended
March 31, 2018
and
2017,
respectively.