Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 9 Months Ended
Jun. 30, 2014
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

 

Nine Months Ended

 

June 30,

 

June 30,

Denominator

2014

 

2013

 

2014

 

2013

Weighted average common shares outstanding - basic

 
28,561,648 

 

 
28,381,923 

 

 
28,534,327 

 

 
28,368,212 

Net effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Options

 
128,169 

 

 
169,080 

 

 
141,927 

 

 
158,677 

Unvested restricted shares

 
195,610 

 

 
199,676 

 

 
195,610 

 

 
199,676 

Total net effect of dilutive securities

 
323,779 

 

 
368,756 

 

 
337,537 

 

 
358,353 

Weighted average common shares outstanding - diluted

 
28,885,427 

 

 
28,750,679 

 

 
28,871,864 

 

 
28,726,565 

Income per common share – basic

$
0.04 

 

$
0.03 

 

$
0.11 

 

$
0.27 

Income per common share – diluted

$
0.04 

 

$
0.03 

 

$
0.10 

 

$
0.27 

 

All the outstanding 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, 2014 and 2013.