Earnings per share

9 Months Ended

Jun. 30, 2012

Notes to Financial Statements

Earnings per share

(6) Earnings per share. The following details the computations of the basic and diluted earnings per common share (dollars in thousands, except per share amounts):

	THREE MONTHS		NINE MONTHS
	ENDED JUNE 30,		ENDED JUNE 30,
	2012	2011	2012	2011
Weighted average common shares
outstanding during the period
- shares used for basic
earnings per common share	9,382	9,291	9,341	9,279
Common shares issuable under
share based payment plans
which are potentially dilutive	100	152	117	174
Common shares used for diluted
earnings per common share	9,482	9,443	9,458	9,453
Net income	$2,684	2,379	6,451	10,457
Earnings per common share
Basic	$0.29	0.26	0.69	1.13
Diluted	$0.28	0.25	0.68	1.11

For the three and nine months ended June 30, 2012, 172,060 shares attributable to outstanding stock options were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. For the three and nine months ended June 30, 2011, 140,370 and 132,870 shares attributable to outstanding stock options were excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive.