Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.8.0.1
Earnings Per Share
3 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

Note (3) - Earnings Per Share: The Company computes earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. Shares of the Company’s common stock subject to unvested restricted stock awards are considered participating securities because these awards contain a non-forfeitable right to cash dividends paid prior to forfeiture of the restricted stock, if any, irrespective of whether the awards ultimately vest. Basic and diluted earnings per share for the three months ended September 30, 2017 and 2016 are computed as follows (in thousands except per share data):

 

    For the three months ended
September 30,
    2017
(Unaudited)
  2016
(Unaudited)
         
Net income   $ 563     $ 352  
Less: distributed and undistributed
income allocated to non-vested
restricted common stock
    44        
Net income allocated to EnviroStar,
Inc. shareholders
  $ 519     $ 352  
Weighted average shares outstanding
used in basic earnings per share
    10,468       7,034  
                 
Dilutive common share equivalents     381        
Weighted average shares outstanding
used in dilutive earnings per share
    10,849       7,034  
Basic earnings per share   $ 0.05     $ 0.05  
Diluted earnings per share   $ 0.05     $ 0.05  

 

For the three months ended September 30, 2017, 509,373 shares of restricted common stock were not included in the calculation of dilutive earnings per share because their impact is anti-dilutive. There were no common share equivalents outstanding for the three months ended September 30, 2016.