Clearfield, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Net Income Per Share

Note 2 - Net Income Per Share

6 Months Ended

Mar. 31, 2012

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.

	Three Months Ended March 31				Six Months Ended March 31
	2012		2011		2012		2011
Net income per common share — basic:
Net income	$	131,927	$	532,487	$	1,131,526	$	1,033,645
Weighted average shares outstanding— basic		12,331,744		12,047,962		12,315,561		12,033,468
Net income per common share	$	0.01	$	0.04	$	0.09	$	0.09

Net income per common share — diluted:
Net income	$	131,927	$	532,487	$	1,131,526	$	1,033,645
Weighted average shares outstanding		12,331,744		12,047,962		12,315,561		12,033,468
Dilutive impact of common stock equivalent outstanding		458,488		709,297		442,613		659,975
Weighted average shares outstanding— diluted		12,790,232		12,757,259		12,758,174		12,693,443
Net income per common share — diluted	$	0.01	$	0.04	$	0.09	$	0.08

- Definition

The entire disclosure for earnings per share.

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