Annual report pursuant to Section 13 and 15(d)

Note 4 - Earnings Per Share

v2.4.0.6
Note 4 - Earnings Per Share
12 Months Ended
Jun. 30, 2012
Earnings Per Share [Text Block]
NOTE 4 – EARNINGS PER SHARE

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options, warrants, and stock awards.

The components of basic and diluted earnings per share were as follows:

 For the year ended June 30, 2012
 
Net Income
   
Shares
   
Per Share
 
 Basic income per share:
  $ 2,446,545       6,217,842     $ 0.39  
 Effect of dilutive securities
                       
 Stock options
            -          
 Warrants
            26,343          
 Diluted loss per share
  $ 2,446,545       6,244,185     $ 0.39  

                         
 For the year ended June 30, 2011
 
Net Income
   
Shares
   
Per Share
 
 Basic income per share:
  $ 5,728,088       4,854,320     $ 1.18  
 Effect of dilutive securities
                       
 Stock options
            89,960          
 Warrants
            12,539          
 Diluted income per share
  $ 5,728,088       4,956,819     $ 1.16