Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 6 Months Ended
Mar. 31, 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

 

Six Months Ended

 

March 31,

 

March 31,

Denominator

2014

 

2013

 

2014

 

2013

Weighted average common shares outstanding - basic

 
28,562,647 

 

 
28,389,977 

 

 
28,520,666 

 

 
28,361,357 

Net effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Options

 
154,295 

 

 
179,595 

 

 
162,920 

 

 
178,214 

Unvested restricted shares

 
198,836 

 

 
184,750 

 

 
198,836 

 

 
184,750 

Total net effect of dilutive securities

 
353,131 

 

 
364,345 

 

 
361,756 

 

 
362,964 

Weighted average common shares outstanding - diluted

 
28,915,778 

 

 
28,754,322 

 

 
28,882,422 

 

 
28,724,321 

Income per common share – basic

$
0.01 

 

$
0.12 

 

$
0.06 

 

$
0.25 

Income per common share – diluted

$
0.01 

 

$
0.12 

 

$
0.06 

 

$
0.24 

 

All the outstanding stock options and unvested restricted shares were included in the computation of diluted net income per share for the three and six months ended March 31, 2014 and 2013.