Note 7 - Earnings Per Share

9 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 7 – 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, 2014 and 2013 are:

	Three Months Ended June 30,						Nine Months Ended June 30,
	2014			2013			2014			2013
Income from continuing operations	$	177,726		$	269,984		$	39,831		$	1,223,269
Discontinued operations, net of tax		(75,528	)		(34,464	)		(666,046	)		105,977
Net income (loss) attributable to common shareholders	$	102,198		$	235,520		$	(626,215	)	$	1,329,246
Basic weighted average shares		10,041,206			9,998,480			10,014,839			10,070,567
Effect of dilutive securities:
Stock options		45,909		–				36,403			214
Diluted weighted average shares		10,087,115			9,998,480			10,051,242			10,070,781
Earnings (loss) per common share:
Basic
Continuing operations	$	0.02		$	0.03		$	−		$	0.12
Discontinued operations		(0.01	)		−			(0.07	)		0.01
Net income (loss)	$	0.01		$	0.02		$	(0.06	)	$	0.13
Diluted
Continuing operations	$	0.02		$	0.03		$	−		$	0.12
Discontinued operations		(0.01	)		−			(0.07	)		0.01
Net income (loss)	$	0.01		$	0.02		$	(0.06	)	$	0.13