Note 3: Earnings Per Share

12 Months Ended

Sep. 30, 2012

Notes

Note 3: Earnings Per Share

Note 3: Earnings Per Share

Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period.  Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the earnings of the entity. 

As of September 30, 2012 and 2011, there were outstanding options to purchase 1,138,500 shares and 1,249,700 shares of the Corporation’s common stock, respectively, of which 586,500 shares and 656,700 shares, respectively, were excluded from the diluted EPS computation as their effect was anti-dilutive.

The following table provides the basic and diluted EPS computations for the quarters ended September 30, 2012 and 2011, respectively.

	For the Quarter Ended
	September 30,
	2012	2011
(In Thousands, Except Share Information)
Numerator:
Net income – numerator for basic earnings
per share and diluted earnings per share -
available to common stockholders	$8,730	$2,318
Denominator:
Denominator for basic earnings per share:
Weighted-average shares	10,799	11,468
Effect of dilutive securities:
Stock option dilution	116	-
Restricted stock dilution	54	47
Denominator for diluted earnings per share:
Adjusted weighted-average shares and assumed
conversions	10,969	11,515
Basic earnings per share	$0.81	$0.20
Diluted earnings per share	$0.80	$0.20