Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Earnings (Unaudited)

v3.20.1
Condensed Statements of Earnings (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Net sales $ 20,408,509 $ 19,084,365 $ 39,786,500 $ 39,173,515
Cost of sales 12,257,076 12,059,122 23,907,532 24,201,574
Gross profit 8,151,433 7,025,243 15,878,968 14,971,941
Operating expenses        
Selling, general and administrative 7,431,261 6,727,744 14,757,881 13,503,619
Income from operations 720,172 297,499 1,121,087 1,468,322
Interest income 217,725 169,443 440,968 304,580
Income before income taxes 937,897 466,942 1,562,055 1,772,902
Income tax expense 190,000 99,000 313,000 395,000
Net income $ 747,897 $ 367,942 $ 1,249,055 $ 1,377,902
Net income per share Basic (in dollars per share) $ 0.05 $ 0.02 $ 0.09 $ 0.10
Net income per share Diluted (in dollars per share) $ 0.05 $ 0.02 $ 0.09 $ 0.10
Weighted average shares outstanding:        
Basic (in shares) 13,521,172 13,422,222 13,516,608 13,411,183
Diluted (in shares) 13,521,172 13,450,212 13,571,674 13,425,178