Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Earnings per Share

v2.4.0.8
Note 2 - Earnings per Share
 9 Months Ended
Jun. 30, 2013
Earnings Per Share [Text Block]  
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,
 
   
2013
   
2012
   
2013
   
2012
 
Denominator:
                       
Weighted average common shares outstanding – basic
    28,381,923       27,554,290       28,368,212       27,530,445  
Net effect of dilutive securities
                               
Options
    169,080       1,191,381       158,677       1,134,225  
Warrants
    -       62,171       -       59,901  
Unvested restricted shares
    199,676       293,250       199,676       293,250  
Total net effect of dilutive securities
    368,756       1,546,802       358,353       1,487,376  
Weighted average common shares outstanding – diluted
    28,750,679       29,101,092       28,726,565       29,017,821  
Income per common share – basic
  $ 0.03     $ 0.09     $ 0.27     $ 0.26  
Income per common share – diluted
  $ 0.03     $ 0.09     $ 0.27     $ 0.25  

All the outstanding warrants, stock options, and unvested restricted shares were included in the computation of diluted net income per share for the three and nine months ended June 30, 2013 and 2012.