Note 10 - Earnings (Loss) Per Common Share

3 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

10. 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
	December 31, 2023		December 31, 2022
Net income (loss)	$	12,679	$	(97	)
Less: Income allocable to unvested restricted stock		—		—
Income (loss) attributable to common shareholders for diluted earnings (loss) per share	$	12,679	$	(97	)
Weighted average number of common share equivalents:
Common shares used in basic earnings (loss) per share		13,251,360		13,067,991
Common share equivalents outstanding related to RSUs		209,156		—
Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share		13,460,516		13,067,991
Earnings (loss) per share:
Basic	$	0.96	$	(0.01	)
Diluted	$	0.94	$	(0.01	)

           For the calculation of diluted earnings per share for the three months ended December 31, 2023 and 2022, there were 212,217 and 382,111 non-vested RSUs, respectively, excluded from the calculation of weighted average shares outstanding since their impact on diluted earnings per share were antidilutive.