| Earnings (Loss) Per Common Share |
Note 14 - Earnings (Loss) Per Common Share
The following table summarizes the computation of basic and diluted earnings (loss) per share:
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THREE MONTHS ENDED |
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SIX MONTHS ENDED |
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December 31, |
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December 31, |
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2016 |
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2015 |
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2016 |
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2015 |
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(In thousands, except share and per share amounts) |
Loss from continuing operations, net of tax |
$ |
(531 |
) |
|
$ |
(1,007 |
) |
|
$ |
(2,726 |
) |
|
$ |
(3,046 |
) |
Preferred stock dividend |
— |
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|
(460 |
) |
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(162 |
) |
|
(913 |
) |
Adjustment of preferred stock to redemption value (Note 12) |
— |
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|
— |
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|
162 |
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|
— |
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Net loss from continuing operations, including preferred stock dividends and gain on redemption of preferred stock |
(531 |
) |
|
(1,467 |
) |
|
(2,726 |
) |
|
(3,959 |
) |
Net income (loss) from discontinued operations |
4 |
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|
(362 |
) |
|
834 |
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(1,373 |
) |
Net loss attributable to common stockholders |
$ |
(527 |
) |
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$ |
(1,829 |
) |
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$ |
(1,892 |
) |
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$ |
(5,332 |
) |
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Basic weighted average shares outstanding |
5,879,610 |
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5,757,533 |
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5,858,177 |
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5,730,157 |
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Add: dilutive effects of convertible preferred stock |
— |
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— |
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— |
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— |
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Diluted weighted average common shares outstanding |
5,879,610 |
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5,757,533 |
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5,858,177 |
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5,730,157 |
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Basic and diluted earnings (loss) per common share: |
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Net loss from continuing operations, including preferred stock dividends and adjustment to redemption value of preferred stock |
$(0.09) |
|
$(0.25) |
|
$(0.47) |
|
$(0.69) |
Net income (loss) from discontinued operations |
$0.00 |
|
$(0.06) |
|
$0.14 |
|
$(0.24) |
Net loss attributable to common stockholders |
$(0.09) |
|
$(0.32) |
|
$(0.32) |
|
$(0.93) |
There is no dilutive effect on earnings (loss) per share in periods with net losses from continuing operations. Stock options and shares of common stock issuable upon the conversion of the Series A Preferred Stock were not considered in the calculations of diluted weighted average common shares outstanding, as they would be anti-dilutive. Potentially dilutive securities excluded from the calculation of diluted shares outstanding are as follows:
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THREE MONTHS ENDED |
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SIX MONTHS ENDED |
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December 31, |
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December 31, |
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2016 |
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2015 |
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2016 |
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2015 |
In-the-money stock options |
— |
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— |
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— |
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— |
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Common shares issuable upon conversion of Series A Preferred Stock |
— |
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2,690,553 |
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|
492,921 |
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2,667,415 |
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Total |
— |
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2,690,553 |
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492,921 |
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2,667,415 |
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