Note 1 - Basis of Presentation

6 Months Ended

Mar. 31, 2015

Disclosure Text Block [Abstract]

Business Description and Basis of Presentation [Text Block]

NOTE 1. BASIS OF PRESENTATION

The accompanying condensed consolidated financial statements of National Holdings Corporation, a Delaware corporation (“National” or the “Company”), have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial statements and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The condensed consolidated financial statements as of March 31, 2015 and for the three and six months ended March 31, 2015 and 2014 are unaudited. The results of operations for the interim periods are not necessarily indicative of the results of operations for the respective fiscal years. The consolidated statement of financial condition at September 30, 2014 has been derived from the audited financial statements at that date, but does not include all of the information and notes required by GAAP for complete financial statement presentation. The accompanying consolidated financial information should be read in conjunction with the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2014 for additional disclosures and accounting policies.

In February 2015, the board of directors declared a 1 for 10 reverse stock split of the Company’s common stock. All share and per share information has been restated for all prior periods presented giving retroactive effect to the reverse stock split.

Certain items in the consolidated statement of operations for the fiscal 2014 periods have been reclassified to conform to the presentation in the fiscal 2015 periods. In addition, the condensed consolidated statements of operations and cash flows for the three and six months ended March 31, 2014 have been retrospectively adjusted to reflect measurement period adjustments of preliminary allocations of the purchase price related to the Gilman Ciocia, Inc. (“Gilman”) acquisition (see Note 7) which was finalized in the fourth quarter of fiscal year 2014. The effect of the measurement period adjustments was to reduce identifiable assets acquired by approximately $2,066,000 with a corresponding increase in goodwill, which resulted in a reduction of amortization of intangibles of $324,000 and $593,000 for the three and six month ended March 31, 2014, respectively. The reclassifications and adjustments for the three and six months ended March 2014 are as follows:

	For the Three Months Ended				For the Six Months Ended
	March 31, 2014				March 31, 2014
	As previously				As previously
	Reported		As Revised		Reported		As Revised
Total revenues	$	52,684,000	$	52,733,000	$	94,478,000	$	93,914,000
Total operating expenses		49,314,000		49,039,000		90,311,000		89,154,000
Income before income taxes		3,370,000		3,694,000		4,167,000		4,760,000
Income taxes		134,000		134,000		241,000		241,000
Net income	$	3,236,000	$	3,560,000	$	3,926,000	$	4,519,000
Net income per share attributable to common stockholders
Basic	$	0.26	$	0.29	$	0.32	$	0.37
Diluted	$	0.26	$	0.28	$	0.32	$	0.37