Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.22.1
Earnings Per Share (Tables)
9 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share

Note (5) - 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 (in the case of restricted stock awards) or dividend equivalents (in the case of restricted stock units) 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, 2022 and 2021 are computed as follows (in thousands, except per share data):

For the nine months ended

March 31,

For the three months ended

March 31,

2022 (Unaudited)

2021 (Unaudited)

2022 (Unaudited)

2021 (Unaudited)

 

Net income

$

2,587

$

1,604

$

40

$

625

 

Less: distributed and undistributed income allocated to unvested restricted common stock

261

143

4

56

Net income allocated to EVI Industries, Inc. shareholders

$

2,326

$

1,461

$

36

$

569

Weighted average shares outstanding used in basic earnings per share

12,321

12,101

12,402

12,252

Dilutive common share equivalents

375

444

261

533

Weighted average shares outstanding used in diluted earnings per share

12,696

12,545

12,663

12,785

Basic earnings per share

$

0.19

$

0.12

$

0.00

$

0.05

Diluted earnings per share

$

0.18

$

0.12

$

0.00

$

0.04

At March 31, 2022 and 2021, other than 1,400,105 shares and 1,202,275 shares, respectively, of common stock subject to unvested restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding.