Note 7 - Income Per Share

3 Months Ended

Dec. 31, 2012

Earnings Per Share [Text Block]

Note 7: Income Per Share

Basic net income per share is computed on the weighted average number of shares outstanding. Diluted net income per share is computed by dividing net income by weighted average shares outstanding plus potential common shares resulting from dilutive stock options, determined using the treasury stock method.

	Three Months Ended
	December 31,
	2012		2011
Net income	$	2,334,287	$	488,393
Denominator:
Weighted average common shares outstanding		17,806,739		18,036,619
Common stock equivalents		39,888		33,782
Diluted shares		17,846,627		18,070,041
Net income per share:
Basic	$	0.13	$	0.03
Diluted	$	0.13	$	0.03

For the three months ended December 31, 2012 and 2011 there were 15,997 and 1,699, respectively, dilutive stock options.  For the three months ended December 31, 2012 and 2011 there were 23,891 and 32,083, respectively, shares of non-vested restricted stock. The Company excluded from the calculations of diluted earnings per share for the three month periods ended December 31, 2012 and 2011, 337,525 and 514,275 shares, respectively, which shares were subject to options issued with exercies prices in excess of the average market value per share during those periods.

Basic earnings per share for the three month periods ended December 31, 2012 and 2011 were computed by dividing net income to common shareholders by the weighted-average number of shares of common stock outstanding, which consists of issued shares less treasury stock.

Diluted earnings per share for the three month periods ended December 31, 2012 and 2011 were computed by dividing net income to common shareholders by the weighted-average number of shares of common stock outstanding and the dilutive effect of the shares awarded under the Company’s equity compensation plans.