Note 6 - Earnings Per Share

9 Months Ended

Jun. 30, 2011

Earnings Per Share [Text Block]

6.  EARNINGS PER SHARE

In accordance with ASC 260, the Company has evaluated its diluted loss per share calculation. The Company has outstanding warrants and stock options at June 30, 2011, and outstanding warrants, convertible debt and stock options at June 30, 2010, which are not included in the determination of diluted loss per because these shares are anti-dilutive. Had these securities been dilutive, less than  0.1 million additional shares would have been included in the Company’s diluted loss per share calculation for both years.

The following is the net loss per share for the three and nine months ended June 30, 2011 and 2010, respectively (in thousands, except per share amounts):

	Three months ended June 30,						Nine months ended June 30,
	2011			2010			2011			2010
Numerators:
Net loss	$	(1,461	)	$	(444	)	$	(8,130	)	$	(5,913	)
Denominators:
Average shares outstanding – basic		34,373			34,405			34,382			34,416
Impact of convertible debt, warrants and stock options		-			-			-			-
Average shares outstanding – diluted		34,373			34,405			34,382			34,416
Basic and diluted loss per share	$	(0.04	)	$	(0.01	)	$	(0.24	)	$	(0.17	)