Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Net Income Per Share

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Note 2 - Net Income Per Share
3 Months Ended
Dec. 31, 2021
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 months ended December 31, 2021 and 2020:

 

   

Three Months Ended December 31,

 

(In thousands, except for share information)

 

2021

   

2020

 

Net income

  $ 10,389     $ 3,163  

Weighted average common shares

    13,743,503       13,692,533  

Dilutive potential common shares

    154,284       4,282  

Weighted average dilutive common shares outstanding

    13,897,787       13,696,815  

Net income per common share:

               

Basic

  $ 0.76     $ 0.23  

Diluted

  $ 0.75     $ 0.23