Earnings Per Share

12 Months Ended

Sep. 30, 2024

Basic earnings per share is calculated by dividing income available to common shareholders by the weighted average number of common shares outstanding and restricted stock grants that vested or are likely to vest during the period. Diluted earnings per share is calculated by dividing income available to common shareholders by the weighted average number of basic common shares outstanding, adjusted to reflect potentially dilutive securities. Diluted earnings per share is calculated using the treasury stock method.

Earnings Per Share information is presented in the table below for the years ending September 30, 2024 and 2023 (in thousands except for per share amounts):


	2024		2023
Numerator:
Net income	$	7,397	$	1,461
Denominator:
Denominator for basic net income per share - weighted-average outstanding shares	14,169		13,704
Effect of dilutive securities:
Stock options and restricted stock	236		727
Denominator for diluted net income per share - weighted-average outstanding shares	$	14,405	$	14,431
Net income per share - basic	$	0.52	$	0.11
Net income per share - diluted	$	0.51	$	0.10