Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Earnings Per Share

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Note 9 - Earnings Per Share
3 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 9. 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,

 
   

2019

   

2018

 

Earnings per share – basic:

               

Net Income

  $ 14,398     $ 17,403  

Income allocated to participating securities

    (11

)

    (16

)

Income available to common shareholders

  $ 14,387     $ 17,387  

Weighted-average shares outstanding

    38,032       37,697  

Earnings per share-basic

  $ 0.38     $ 0.46  
                 

Earnings per share – diluted:

               

Net Income

  $ 14,398     $ 17,403  

Income allocated to participating securities

    (11

)

    (16

)

Income available to common shareholders

  $ 14,387     $ 17,387  

Weighted average common shares outstanding-basic

    38,032       37,697  

Dilutive effect of stock options and restricted stock units

    1,221       1,116  

Weighted average common shares outstanding-diluted

    39,253       38,813  

Earnings per share-diluted

  $ 0.37     $ 0.45  

 

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 1.2 million and 1.3 million for the first quarter ended September 30, 2019 and 2018, respectively.