Note 2 - Earnings Per Share

3 Months Ended

Dec. 31, 2011

Note 2 - Earnings Per Share Disclosure

Note 2 - Earnings Per Share

Note 2 – Earnings Per Share

Basic earnings per share are based on the sum of the average number of common shares outstanding and issuable restricted and deferred shares.  Diluted earnings per share include any dilutive effect of stock options and restricted stock.  In computing the diluted weighted average shares, the average stock price for the period is used in determining the number of shares assumed to be reacquired under the treasury stock method from the exercise of options.

Basic and diluted earnings per share for the three months ended December 31, 2011 and 2010 are:

	Three Months Ended December 31,
	2011		2010
Net income attributable to common shareholders	$	446,780	$	740,635
Basic weighted average shares		10,207,390		10,143,970
Effect of dilutive securities:
Stock options		1,646		10,553
Diluted weighted average shares		10,209,036		10,154,523
Earnings per common share:
Basic	$	0.04	$	0.07
Diluted	$	0.04	$	0.07