Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Earnings Per Share

Note 7 - Earnings Per Share

6 Months Ended

Dec. 31, 2017

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						Six Months Ended
	December 31,						December 31,
	2017			2016			2017			2016
Earnings per share – basic:
Net income	$	48,847		$	7,467		$	64,710		$	26,309
Income allocated to participating securities		(41	)		(7	)		(50	)		(22	)
Income available to common shareholders	$	48,806		$	7,460		$	64,660		$	26,287
Weighted-average shares outstanding – basic		37,449			37,308			37,412			37,294
Earnings per share – basic	$	1.30		$	0.20		$	1.73		$	0.70

Earnings per share – diluted:
Net income	$	48,847		$	7,467		$	64,710		$	26,309
Income all ocated to participating securities		(41	)		(7	)		(50	)		(22	)
Income available to common shareholders	$	48,806		$	7,460		$	64,660		$	26,287
Weighted-average shares outstanding – basic		37,449			37,308			37,412			37,294
Dilutive effect of stock options and restricted stock units		477			170			404			181
Weighted-average common shares outstanding – diluted		37,926			37,478			37,816			37,475
Earnings per share – diluted	$	1.29		$	0.20		$	1.71		$	0.70

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

million and

2.0

million for the quarter ended

December 31, 2017

and

2016,

respectively and

1.7

million and

2.0

million for the

six

months ended

December 31, 2017

and

2016,

respectively.