Note 10 - Earnings (Loss) Per Common Share

6 Months Ended

Mar. 31, 2024

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					Six Months Ended
	March 31, 2024			March 31, 2023		March 31, 2024		March 31, 2023
Net income (loss)	$	(4,327	)	$	4,637	$	8,352	$	4,540
Less: Income allocable to unvested restricted stock		—			—		—		—
Income (loss) attributable to common shareholders for diluted earnings (loss) per share	$	(4,327	)	$	4,637	$	8,352	$	4,540
Weighted average number of common share equivalents:
Common shares used in basic earnings (loss) per share		13,343,793			13,156,715		13,297,324		13,111,866
Common share equivalents outstanding related to RSUs		—			—		174,451		—
Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share		13,343,793			13,156,715		13,471,775		13,111,866
Earnings (loss) per share:
Basic	$	(0.32	)	$	0.35	$	0.63	$	0.35
Diluted	$	(0.32	)	$	0.35	$	0.62	$	0.35

           For the calculation of diluted earnings (loss) per share for the three months ended March 31, 2024 and 2023, there were 400,020 and 394,924 non-vested RSUs, respectively, excluded from the calculation of weighted average shares outstanding since their impact on diluted earnings (loss) per share were antidilutive. For the calculation of diluted earnings per share for the six months ended March 31, 2024 and 2023, there were 225,569 and 394,924 non-vested RSUs, respectively, excluded from the calculation of weighted average shares outstanding since their impact on diluted earnings per share were antidilutive.