Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Earnings per Share

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Note 2 - Earnings per Share
 3 Months Ended
Dec. 31, 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
December 31,
 
   
2012
   
2011
 
Denominator:
           
Weighted average common shares outstanding – basic
    28,333,360       27,480,011  
Net effect of dilutive securities
               
Options
    176,793       1,060,958  
Warrants
    -       56,991  
Unvested restricted shares
    184,750       285,750  
Total net effect of dilutive securities
    361,543       1,403,699  
Weighted average common shares outstanding - diluted
    28,694,903       28,883,710  
Income per common share – basic
  $ 0.12     $ 0.10  
Income per common share – diluted
  $ 0.12     $ 0.09  

All the outstanding warrants and stock options were included in the computation of diluted net income per share for the three months ended December 31, 2012 and 2011.