Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.6.0.2
Earnings Per Share
6 Months Ended
Dec. 31, 2016
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 non-vested restricted stock are considered participating securities because these awards contain a non-forfeitable right to dividends paid prior to forfeiture of the restricted stock, if any, irrespective of whether the awards ultimately vest. In November 2016, the Company issued 414,762 of restricted stock under the EnviroStar, Inc. 2015 Equity Incentive Plan(See Note 8). Such shares constitute a second class of stock for accounting purposes. Basic and diluted earnings per share for the six and three months ended December 31, 2016 and 2015 are computed as follows (in thousands except per share data):

 

    For the six months ended
December 31,
    For the three months ended
December 31,
 
    2016
(Unaudited)
    2015
(Unaudited)
    2016
(Unaudited)
    2015
(Unaudited)
 
                         
Net income   $ 1,680     $ 536     $ 1,329     $ 379  
Less: distributed and undistributed
     income allocated to non-vested
     restricted common stock
    51             51        
Net income allocated to EnviroStar,
     Inc. shareholders
  $ 1,629     $ 536     $ 1,278     $ 379  
Weighted average shares outstanding     8,538       7,034       10,043       7,034  
Basic and fully diluted earnings per
     share
  $ 0.19     $ 0.08     $ 0.13     $ 0.05  

 

At December 31, 2016 and 2015, other than the restricted common stock discussed above, there were no potentially dilutive securities outstanding.