Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.2
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Schedule of Earnings per Share
A reconciliation of shares used in calculating basic and diluted earnings per common shares for the years ended June 30, 2019 and 2018, is presented below.
in thousands
 
 
 
 
Years Ended June 30,
 
2019
 
2018
 
Basic weighted average shares outstanding
 
7,031

 
7,031

 
Effect of common stock equivalents — stock issuable under outstanding equity awards
 
54

 
—

(1) 
Diluted weighted average shares outstanding
 
7,085

 
7,031

 
_________________________________
 
(1)
 
The Company incurred a net loss for the year ended June 30, 2018, and hence the basic and diluted EPS were the same. The inclusion of 842,515 potential common shares (outstanding stock options) in the computation of net loss per share would have been anti-dilutive.