Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Net Income (Loss) Per Share

v3.24.1.u1
Note 2 - Net Income (Loss) Per Share
6 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 2. Net Income (Loss) Per Share

 

Basic net income (loss) per common share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income (loss) 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 (loss) per common share computations for the three and six months ended March 31, 2024, and 2023:

 

   

Three Months Ended March 31,

   

Six Months Ended March 31,

 

(In thousands, except for share data)

 

2024

   

2023

   

2024

   

2023

 

Net (loss) income

  $ (5,911 )   $ 10,364     $ (11,179 )   $ 24,619  

Weighted average common shares

    14,629,489       15,233,848       14,922,811       14,693,829  

Dilutive potential common shares

    -       26,921       -       73,109  

Weighted average dilutive common shares outstanding

    14,629,489       15,260,769       14,922,811       14,766,938  

Net (loss) income per common share:

                               

Basic

  $ (0.40 )   $ 0.67     $ (0.75 )   $ 1.68  

Diluted

  $ (0.40 )   $ 0.67     $ (0.75 )   $ 1.67