Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.8.0.1
Earnings Per Share
6 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

Note (4) - 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 six months ended December 31, 2017 and 2016 are computed as follows (in thousands except per share data):

 

 

    For the six months ended
December 31,
    For the three months ended
December 31,
 
    2017
(Unaudited)
    2016
(Unaudited)
    2017
(Unaudited)
    2016
(Unaudited)
 
                         
Net income   $ 2,073     $ 1,680     $ 1,510     $ 1,329  

Less: distributed and undistributed
     income allocated to unvested

     restricted common stock

    154       51       112       31  
Net income allocated to
     EnviroStar, Inc.
     shareholders
  $ 1,919     $ 1,629     $ 1,398     $ 1,278  
Weighted average shares
     outstanding used in basic
    10,585       8,538       10,702       10,043  
Dilutive common share
     equivalents
    377             372        
Weighted average shares
     outstanding used in diluted
     earnings per share
    10,962       8,538       11,074       10,043  
Basic earnings per share   $ 0.18     $ 0.19     $ 0.13     $ 0.13  
Diluted earnings per share   $ 0.18     $ 0.19     $ 0.13     $ 0.13  

 

At December 31, 2017 and 2016, other than the restricted common stock discussed above, there were no potentially dilutive securities outstanding.