Note 12 - Earnings (Loss) Per Common Share

6 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

12. Earnings (Loss) Per Common Share

The following table summarizes the calculation of net earnings (loss) and weighted average common shares and common equivalent shares outstanding for purposes of the computation of earnings (loss) per share (in thousands, except share and per share data):

	Three Months Ended					Six Months Ended
	March 31, 2023		March 31, 2022			March 31, 2023		March 31, 2022
Net income (loss)	$	4,637	$	(1,474	)	$	4,540	$	(8,242	)
Less: Income allocable to unvested restricted stock		—		—			—		—
Income (loss) attributable to common shareholders for diluted earnings (loss) per share	$	4,637	$	(1,474	)	$	4,540	$	(8,242	)
Weighted average number of common share equivalents:
Common shares used in basic earnings (loss) per share		13,156,715		12,999,022			13,111,866		12,958,911
Common share equivalents outstanding related to RSUs		—		—			—		—
Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share		13,156,715		12,999,022			13,111,866		12,958,911
Earnings (loss) per share:
Basic	$	0.35	$	(0.11	)	$	0.35	$	(0.64	)
Diluted	$	0.35	$	(0.11	)	$	0.35	$	(0.64	)

           For the calculation of diluted earnings (loss) per share for the three and six months ended March 31, 2023 and the three and six months ended March 31, 2022, 394,924 and 371,484 non-vested RSUs, respectively, were excluded in the calculation of weighted average shares outstanding since their impact on diluted earnings (loss) per share was antidilutive.