Note 4 - Earnings Per Share

3 Months Ended

Dec. 31, 2011

Earnings Per Share [Text Block]

4.  EARNINGS PER SHARE

In accordance with Accounting Standards Codification (“ASC”) 260, the Company has evaluated its diluted income (loss) per share calculation. The Company had outstanding warrants and stock options at December 31, 2011 and 2010 which were not included in the determination of diluted income (loss) per share because these shares were anti-dilutive.

Net income (loss) per share for the three months ended December 31, 2011 and 2010, respectively was as follows (in thousands, except per share amounts):

	Three months ended December 31,
	2011		2010
Numerators:
Net income (loss)	$	9,703	$	(1,561	)
Denominators:
Average shares outstanding – basic		34,368		34,389
Impact of stock options		23		-
Average shares outstanding – diluted		34,391		34,389
Basic income (loss) per share	$	0.28	$	(0.05	)
Diluted income (loss) per share	$	0.28	$	(0.05	)