Note 10 - Earnings (Loss) Per Common Share

9 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

10. Earnings (Loss) Per Common Share

The following table summarizes the calculation of net earnings (loss) and weighted average common shares and common equivalent shares outstanding for purposes of the computation of earnings (loss) per share (in thousands, except share and per share data):

	Three Months Ended					Nine Months Ended
	June 30, 2024			June 30, 2023		June 30, 2024		June 30, 2023
Net income (loss)	$	(2,070	)	$	3,228	$	6,282	$	7,768
Less: Income allocable to unvested restricted stock		—			—		—		—
Income (loss) attributable to common shareholders for diluted earnings (loss) per share	$	(2,070	)	$	3,228	$	6,282	$	7,768
Weighted average number of common share equivalents:
Common shares used in basic earnings (loss) per share		13,216,386			13,171,654		13,270,444		13,131,795
Common share equivalents outstanding related to RSUs		—			149,227		161,270		26,124
Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share		13,216,386			13,320,881		13,431,714		13,157,919
Earnings (loss) per share:
Basic	$	(0.16	)	$	0.25	$	0.47	$	0.59
Diluted	$	(0.16	)	$	0.24	$	0.47	$	0.59

           For the calculation of diluted earnings (loss) per share for the three months ended June 30, 2024 and 2023, there were 412,770 and 230,322 non-vested RSUs, respectively, excluded from the calculation of weighted average shares outstanding since their impact on diluted earnings (loss) per share were antidilutive. For the calculation of diluted earnings per share for the nine months ended June 30, 2024 and 2023, there were 251,500 and 364,188 non-vested RSUs, respectively, excluded from the calculation of weighted average shares outstanding since their impact on diluted earnings per share were antidilutive.