Quarterly report [Sections 13 or 15(d)]

Note 2 - Net Income (Loss) Per Share

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Note 2 - Net Income (Loss) Per Share
9 Months Ended
Jun. 30, 2025
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 nine months ended June 30, 2025, and 2024:

 

   

Three Months Ended June 30,

   

Nine months Ended June 30,

 

(In thousands, except for share data)

 

2025

   

2024

   

2025

   

2024

 

Net income (loss)

 

$

1,606    

$

(447 )   $ 1,028     $ (11,626 )

Weighted average common shares

    13,833,748       14,249,755       14,047,802       14,699,278  

Dilutive potential common shares

    -       -       -       -  

Weighted average dilutive common shares outstanding

    13,833,748       14,249,755       14,047,802       14,699,278  

Net income (loss) per common share:

                               

Basic

 

$

0.11    

$

(0.04 )   $ 0.07     $ (0.79 )

Diluted

 

$

0.11    

$

(0.04 )   $ 0.07     $ (0.79 )

 

For the three months and nine months ended June 30, 2025, 379,471 and 395,619 stock options, as well as 76,121 and 76,121 performance stock units, were not included in the computation of diluted net income (loss) per share because the effect would have been anti-dilutive. For the three months and nine months ended June 30, 2024, 366,984 and 364,104 stock options, as well as 47,745 and 47,745 performance stock units, were not included in the computation of diluted net loss per share because the effect would have been anti-dilutive.