Note 2 - Earnings Per Share

9 Months Ended

Jun. 30, 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 nine months ended June 30, 2012 and 2011 are:

	Three Months Ended June 30,				Nine Months Ended June 30,
	2012		2011		2012		2011
Net income attributable to common shareholders	$	459,298	$	467,577	$	829,799	$	1,806,918
Basic weighted average shares		10,189,120		10,195,135		10,198,691		10,164,487
Effect of dilutive securities:
Stock options		563		2,237		1,065		4,126
Diluted weighted average shares		10,189,683		10,197,372		10,199,756		10,168,613
Earnings per common share:
Basic	$	0.05	$	0.05	$	0.08	$	0.18
Diluted	$	0.05	$	0.05	$	0.08	$	0.18