EARNINGS PER SHARE

9 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE D - EARNINGS PER SHARE

Basic and diluted earnings per share for the three and nine months ended June 30, 2018 and 2017 were calculated by dividing net income by the weighted-average number of shares outstanding for the period considering the effect of dilutive equity options and stock awards for the diluted earnings per share calculations.

	For the Three Months				For the Nine Months
	Ended June 30,				Ended June 30,
	2018		2017		2018		2017
	(In thousands except for per share data)
Income applicable to common shares	$	599	$	288	$	1,324	$	935
Weighted average number of common shares
outstanding - basic		5,821		5,821		5,821		5,821
Stock options and restricted stock		—		—		—		—
Weighted average number of common shares
and common share equivalents - diluted		5,821		5,821		5,821		5,821
Basic earnings per share	$	0.10	$	0.05	$	0.23	$	0.16
Diluted earnings per share	$	0.10	$	0.05	$	0.23	$	0.16

There were no outstanding options to purchase common stock at June 30, 2018 and 2017.