Earnings Per Common Share

12 Months Ended

Sep. 30, 2011

Earnings Per Common Share [Abstract]

Earnings Per Common Share

13. Earnings Per Common Share:

Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined on the assumption that outstanding dilutive stock options have been exercised and the aggregate proceeds as defined were used to reacquire common stock using the average price of such common stock for the period.

The following table summarizes the calculation of weighted average common shares and common equivalent shares outstanding for purposes of basic and diluted earnings per share (in thousands, except share and per share amounts):

	YEAR ENDED SEPTEMBER 30,
	2011		2010		2009
Net income	$	29,711	$	14,082	$	1,760
Weighted average common shares and common share equivalents:
Common shares		6,220,657		6,031,314		5,950,403
Common share equivalents		65,667		161,704		128,975
Total weighted average common shares and common share equivalents		6,286,324		6,193,018		6,079,378
Earnings per share:
Basic	$	4.78	$	2.33	$	0.30
Diluted	$	4.73	$	2.27	$	0.29

Options totaling zero, 63,000 and 13,200 shares of common stock in fiscal years 2011, 2010 and 2009 respectively, were not included in the calculation of weighted average shares for diluted earnings per share because their effects were antidilutive.