Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.1.9
Earnings Per Share
 6 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 2 – Earnings per Share 

 

Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period after giving effect to all dilutive potential common shares that were outstanding during the period. Dilutive potential common shares consist of the incremental common shares issuable upon the exercise of stock options and unvested shares granted to employees and directors.   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

March 31,

 

March 31,

Denominator

2015

 

2014

 

2015

 

2014

Weighted average common shares outstanding - basic

 
28,521,659 

 

 
28,562,647 

 

 
28,512,005 

 

 
28,520,666 

Net effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Options

 
56,016 

 

 
154,295 

 

 
59,974 

 

 
162,920 

Unvested restricted shares

 
202,806 

 

 
198,836 

 

 
202,806 

 

 
198,836 

Total net effect of dilutive securities

 
258,822 

 

 
353,131 

 

 
262,780 

 

 
361,756 

Weighted average common shares outstanding - diluted

 
28,780,481 

 

 
28,915,778 

 

 
28,774,785 

 

 
28,882,422 

Income per common share – basic

$
0.06 

 

$
0.01 

 

$
0.09 

 

$
0.06 

Income per common share – diluted

$
0.06 

 

$
0.01 

 

$
0.09 

 

$
0.06 

 

Options to purchase approximately 90,000 shares of common stock at an exercise price of $3.92 per share that were outstanding during the three and six months ended March 31, 2015, were not included in the computation of diluted net income per share because their effect was anti-dilutive.  There were no anti-dilutive shares for the three and six months ended March 31, 2014.