Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Earnings per Share

v2.4.0.6
Note 2 - Earnings per Share
 9 Months Ended
Jun. 30, 2012
Earnings Per Share [Text Block]
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 warrants and unvested shares granted to employees and directors.

   
Three Months Ended
June 30,
   
Nine Months Ended
June 30,
 
   
2012
   
2011
   
2012
   
2011
 
Denominator:
                       
Weighted average common shares outstanding – basic
    27,554,290       27,301,422       27,530,445       27,282,597  
Net effect of dilutive securities
                               
Options
    1,191,381       1,234,933       1,134,225       1,268,335  
Warrants
    62,171       58,905       59,901       60,081  
Unvested restricted shares
    293,250       376,250       293,250       376,250  
Total net effect of dilutive securities
    1,546,802       1,670,088       1,487,376       1,704,666  
Weighted average common shares outstanding - diluted
    29,101,092       28,971,510       29,017,821       28,987,263  
Income per common share – basic
  $ 0.09     $ 0.02     $ 0.26     $ 0.03  
Income per common share – diluted
  $ 0.09     $ 0.01     $ 0.25     $ 0.03  

All the outstanding warrants and stock options were included in the computation of diluted net income per share during the three months and nine months ended June 30, 2012 and 2011.