Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 12 Months Ended
Sep. 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 warrants and unvested shares granted to employees.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended September 30,

Denominator

2014

 

2013

 

2012

Weighted average common shares outstanding - basic

 
28,522,525 

 

 
28,376,607 

 

 
27,693,721 

Net effect of dilutive securities:

 

 

 

 

 

 

 

 

Options

 
109,583 

 

 
162,195 

 

 
913,600 

Warrants

 

 —

 

 

 —

 

 
39,823 

Unvested restricted shares

 
233,276 

 

 
187,676 

 

 
286,000 

Total net effect of dilutive securities

 
342,859 

 

 
349,871 

 

 
1,239,423 

Weighted average common shares outstanding - diluted

 
28,865,384 

 

 
28,726,478 

 

 
28,933,144 

Income per common share – basic

$
0.09 

 

$
0.51 

 

$
0.55 

Income per common share – diluted

$
0.08 

 

$
0.50 

 

$
0.53 

 

All the outstanding warrants and stock options were included in the computation of diluted net income per share for the years ended September 30, 2014, 2013 and 2012.