Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Earnings Per Share

Note 12 - Earnings Per Share
3 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]


Earnings Per Share


We compute basic earnings per share (“EPS”) by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated similarly, except that the weighted average outstanding shares are adjusted to include the effects of converting all potentially dilutive share-based awards issued under our employee stock plans. The number of potential common shares outstanding are determined in accordance with the treasury stock method to the extent they are dilutive.


Basic and diluted EPS are calculated using the following weighted average share data (in thousands):



Three months ended


September 30,






Weighted average shares outstanding for basic calculation

    25,179         26,713  

Dilutive effect of stock options and other share-based awards

    27         37  

Weighted average shares outstanding adjusted for dilution calculation

    25,206         26,750  


Dilutive potential common shares consist of stock options, restricted stock units and performance units. 


As of September 30, 2020 and 2019, total share-based awards of 437,449 and 232,914, respectively, were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive.


As of September 30, 2020 and 2019, the number of performance units excluded from the calculation of diluted EPS was 316,445 and 287,287, respectively. Contingently issuable shares with performance conditions are evaluated for inclusion in diluted EPS if, at the end of current period, conditions would be satisfied as if it were the end of the contingency period.