Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Earnings Per Share

Note 8 - Earnings Per Share

9 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

Earnings

Per

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,
	201 9			201 8			201 9			201 8
Earnings per share – basic:
Net income	$	44,654		$	19,738		$	79,612		$	84,449
Income allocated to participating securities		(35	)		(18	)		(66	)		(70	)
Income available to common shareholders	$	44,619		$	19,720		$	79,546		$	84,379
Weighted-average shares outstanding – basic		37,772			37,503			37,745			37,450
Earnings per share – basic	$	1.18		$	0.53		$	2.11		$	2.25

Earnings per share – diluted:
Net income	$	44,654		$	19,738		$	79,612		$	84,449
Income allocated to participating securities		(35	)		(18	)		(66	)		(70	)
Income available to common shareholders	$	44,619		$	19,720		$	79,546		$	84,379
Weighted-average shares outstanding – basic		37,772			37,503			37,745			37,450
Dilutive effect of stock options and restricted stock units		1,089			639			1,068			483
Weighted-average common shares outstanding – diluted		38,861			38,142			38,813			37,933
Earnings per share – diluted	$	1.15		$	0.52		$	2.05		$	2.22

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 dilutiv

e option shares excluded from the calculation was

1.3

million and

1.1

million for the quarter ended

March 31, 2019

and

2018,

respectively and

1.3

million and

1.6

million for the

nine

months ended

March 31, 2019

and

2018,

respectively.