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, 2011
Earnings Per Share [Text Block]
NOTE 2 – Earnings per Share

Basic EPS is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. In the diluted earnings per share calculation, the numerator is the sum of net income attributable to common stockholders and preferred dividends.  Diluted EPS is computed 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,
   
Three Months Ended
December 31,
 
   
2011
   
2010
 
Denominator:
           
          Weighted average common shares outstanding – basic
    27,480,011       27,245,560  
Net effect of dilutive securities
               
          Options
    1,060,958       1,311,583  
          Warrants
    56,991       61,604  
          Unvested restricted shares
    285,750       378,750  
Total net effect of dilutive securities
    1,403,699       1,751,937  
          Weighted average common shares outstanding - diluted
    28,883,710       28,997,497  
Income per common share – basic
  $ 0.10     $ 0.01  
Income per common share – diluted
  $ 0.09     $ 0.01  

All the outstanding warrants and stock options were included in the computation of diluted net income per share during the three months ended December 31, 2011 and 2010.