Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Net Income Per Share

v2.4.0.8
Note 2 - Net Income Per Share
 6 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
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 and restricted stock awards, when dilutive.

   
Three Months Ended March 31,
   
Six Months Ended March 31,
 
   
2014
   
2013
   
2014
   
2013
 
Net income
  $ 1,226,305     $ 545,278     $ 3,208,631     $ 1,090,489  
Weighted average common shares
    12,746,904       12,503,434       12,717,842       12,489,651  
Dilutive potential common shares
    866,383       423,126       862,275       372,633  
Weighted average dilutive common shares outstanding
    13,613,287       12,926,560       13,580,117       12,862,284  
Net income per common share:
                               
    Basic
  $ 0.09     $ 0.05     $ 0.25     $ 0.09  
    Diluted
  $ 0.09     $ 0.04     $ 0.24     $ 0.08  

The calculation of diluted net income per common share excludes 294,500 potentially dilutive shares for the three months ended March 31, 2013 because their effect would be anti-dilutive.  There were no shares excluded for the three months ended March 31, 2014 as all shares were dilutive.