Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Net Income Per Share

v3.7.0.1
Note 2 - Net Income Per Share
6 Months Ended
Mar. 31, 2017
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 and restricted stock awards, when dilutive.
 
The following is a reconciliation of the numerator and denominator of the net income per common share computations for the
three
and
six
months ended
March
31,
2017
and
2016:
 
    Three Months Ended March 31,   Six Months Ended March 31,
    2017   2016   2017   2016
Net income   $
907,521
    $
1,492,979
    $
1,784,451
    $
2,980,433
 
Weighted average common shares    
13,589,109
     
13,309,181
     
13,578,178
     
13,298,874
 
Dilutive potential common shares    
214,588
     
272,629
     
218,948
     
279,556
 
Weighted average dilutive common shares outstanding    
13,803,697
     
13,581,810
     
13,797,126
     
13,578,430
 
Net income per common share:                                
Basic   $
0.07
    $
0.11
    $
0.13
    $
0.22
 
Diluted   $
0.07
    $
0.11
    $
0.13
    $
0.22