Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Earnings Per Share

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Note 9 - Earnings Per Share
6 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 9.EarningsPerShare:

 

The following table reflects the calculation of basic and diluted earnings per share (in thousands, except per share amounts):

 

   

Quarter Ended

   

Six Months Ended

 
   

December 31,

   

December 31,

 
   

2019

   

2018

   

2019

   

2018

 

Earnings per share – basic:

                               

Net income

  $ 119,622     $ 17,556     $ 134,018     $ 34,958  

Income allocated to participating securities

    (172 )     (18

)

    (258 )     (34

)

Income available to common shareholders

  $ 119,450     $ 17,538     $ 133,760     $ 34,924  

Weighted-average shares outstanding – basic

    38,167       37,766       38,100       37,732  

Earnings per share – basic

  $ 3.13     $ 0.46     $ 3.51     $ 0.93  
                                 

Earnings per share – diluted:

                               

Net income

  $ 119,622     $ 17,556     $ 134,018     $ 34,958  

Income allocated to participating securities

    (172 )     (18

)

    (258 )     (34

)

Income available to common shareholders

  $ 119,450     $ 17,538     $ 133,760     $ 34,924  

Weighted-average shares outstanding – basic

    38,167       37,766       38,100       37,732  

Dilutive effect of stock options and restricted stock units

    1,383       982       1,270       1,050  

Weighted-average common shares outstanding – diluted

    39,550       38,748       39,370       38,782  

Earnings per share – diluted

  $ 3.02     $ 0.45     $ 3.40     $ 0.90  

 

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 1.3 million for the quarter ended December 31, 2019 and 2018, respectively and 1.3 million and 1.3 million for the six months ended December 31, 2019 and 2018 respectively.