Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.19.2
Earnings Per Share
 12 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 4 – EARNINGS PER SHARE

 

Basic earnings per share are 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 and stock awards.

 

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

 

    For the year ended June 30, 2019  
    Net Income     Shares     Per Share  
Basic income per share:                        
Net income available to common shareholders   $ 8,583,399       11,599,290     $ 0.74  
Effect of dilutive securities                        
Stock options     -       4,418       -  
Share grants     -       18,282       -  
Diluted income per share   $ 8,583,399       11,621,990     $ 0.74  

 

    For the year ended June 30, 2018  
    Net Income     Shares     Per Share  
                         
Basic income per share:                        
Net income available to common shareholders   $ 4,306,888       11,197,319     $ 0.38  
Effect of dilutive securities                        
Stock options     -       -       -  
Share grants     -       -       -  
Diluted income per share   $ 4,306,888       11,197,319     $ 0.38