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

9 Months Ended

Jun. 30, 2011

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 June 30,				Nine months Ended June 30,
	2011		2010		2011		2010
Net income per common share — basic:
Net income	$	1,277,830	$	629,013	$	2,311,475	$	360,962
Weighted average shares outstanding basic		12,097,670		11,995,331		12,054,868		11,987,793
Net income per common share	$	0.11	$	0.05	$	0.19	$	0.03

Net income per common share — diluted
Net income	$	1,277,830	$	629,013	$	2,311,475	$	360,962
Weighted average shares outstanding		12,097,670		11,995,331		12,054,868		11,987,793
Dilutive impact of common stock equivalent outstanding		731,827		442,522		683,926		472,276
Weighted average shares outstanding— diluted		12,829,497		12,437,853		12,738,794		12,460,069
Net income per common share — diluted	$	0.10	$	0.05	$	0.18	$	0.03

- Definition

The entire disclosure for earnings per share.

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