Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Net Income Per Share

v3.20.1
Note 2 - Net Income Per Share
 6 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]
Note
2.
Net Income Per Share
 
Basic net income per common share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options, when dilutive.
The following is a reconciliation of the numerator and denominator of the net income per common share computations for the
three
and
six
months ended
March 31, 2020
and
2019:
 
    Three Months Ended March 31,   Six Months Ended March 31,
    2020   2019   2020   2019
Net income   $
747,897
     $
367,942
     $
1,249,055
     $
1,377,902
  
Weighted average common shares    
13,521,172
      
13,422,222
      
13,516,608
      
13,411,183
  
Dilutive potential common shares    
-
      
27,990
      
55,066
      
13,995
  
Weighted average dilutive common shares outstanding    
13,521,172
      
13,450,212
      
13,571,674
      
13,425,178
  
Net income per common share:                                
Basic   $
0.05
     $
0.02
     $
0.09
     $
0.10
  
Diluted   $
0.05
     $
0.02
     $
0.09
     $
0.10