Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.1
Earnings Per Share
9 Months Ended
Mar. 31, 2020
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 and restricted stock units are considered participating securities because they contain a non-forfeitable right to cash dividends or dividend equivalents paid prior to vesting or forfeiture, if any, irrespective of whether the awards or units ultimately vest. Basic and diluted earnings per share for the nine and three months ended March 31, 2020 and 2019 are computed as follows (in thousands, except per share data):

 

    For the nine months ended
March 31,
  For the three months ended
March 31,
    2020
(Unaudited)
  2019
(Unaudited)
  2020
(Unaudited)
  2019
(Unaudited)
                 
Net income (loss)   $ 831     $ 2,527     $ (12 )   $ 466  
Less: distributed and undistributed income (loss)
       allocated to unvested restricted common stock
    68       181             33  
Net income (loss) allocated to EVI Industries, Inc. shareholders   $ 763     $ 2,346     $ (12 )   $ 433  
Weighted average shares outstanding used in basic
       earnings per share
    11,815       11,463       11,872       11,666  
Dilutive common share equivalents     373       497             479  
Weighted average shares outstanding used in diluted earnings per share     12,188       11,960       11,872       12,145  
Basic earnings per share   $ 0.06     $ 0.20     $ (0.00 )   $ 0.04  
Diluted earnings per share (1)   $ 0.06     $ 0.20     $ (0.00 )   $ 0.04  
(1) For the three-month period ended March 31, 2020 potential common shares under the treasury stock method were anti-dilutive because the Company reported a net loss in the period.

At March 31, 2020 and 2019, other than 1,068,753 shares and 909,277 shares, respectively, of common stock subject to unvested restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding.