Note 2 - Earnings Per Share

6 Months Ended

Mar. 31, 2012

Earnings Per Share [Text Block]

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 and six months ended March 31, 2012 and 2011 are:

	Three Months Ended March 31,					Six Months Ended March 31,
	2012			2011		2012		2011
Net income (loss) attributable to common shareholders	$	(76,279	)	$	598,706	$	370,501	$	1,339,341
Basic weighted average shares		10,199,564			10,154,355		10,203,477		10,149,163
Effect of dilutive securities:
Stock options		944			9,691		1,303		11,251
Diluted weighted average shares		10,200,508			10,164,046		10,204,780		10,160,414
Earnings (loss) per common share:
Basic	$	(0.01	)	$	0.06	$	0.04	$	0.13
Diluted	$	(0.01	)	$	0.06	$	0.04	$	0.13