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Per Share Information
 12 Months Ended
Sep. 30, 2011
Per Share Information [Abstract]  
Per Share Information

6. PER SHARE INFORMATION

 

Basic earnings per share is calculated as income (loss) available to common stockholders, divided by the weighted average number of common shares outstanding during the period. If the effect is dilutive, participating securities are included in the computation of basic earnings per share. Our participating securities do not have a contractual obligation to share in the losses in any given period. As a result, these participating securities will not be allocated any losses in the periods of net losses, but will be allocated income in the periods of net income using the two-class method.

The following table reconciles the components of the basic and diluted earnings (loss) per share for the years ended September 30, 2011, 2010 and 2009, (in thousands, except share information):

  Years Ended September 30,
  2011 2010 2009
Numerator:         
Net income (loss) from continuing operations attributable to common shareholders $ (37,693) $ (32,147) $ (11,939)
Net income (loss) from continuing operations attributable to restricted shareholders   -   -   -
Net income (loss) from continuing operations $ (37,693) $ (32,147) $ (11,939)
Net income (loss) from discontinued operations attributable to common shareholders $ - $ - $ 117
Net income (loss) from discontinued operations attributable to restricted shareholders   -   -   2
Net income (loss) from discontinued operations $ - $ - $ 119
Net income (loss) attributable to common shareholders $ (37,693) $ (32,147) $ (11,820)
Net income (loss) attributable to restricted shareholders   -   -   -
Net income (loss) $ (37,693) $ (32,147) $ (11,820)
          
Denominator:         
Weighted average common shares outstanding — basic   14,493,747   14,409,368   14,331,614
Effect of dilutive stock options and non-vested restricted stock   -   -   -
Weighted average common and common equivalent shares outstanding — diluted   14,493,747   14,409,368   14,331,614
          
Basic earnings (loss) per share:         
Basic earnings (loss) per share from continuing operations $(2.60) $(2.23) $(0.83)
Basic earnings (loss) per share from discontinued operations $0.00 $0.00 $0.01
Basic loss per share $(2.60) $(2.23) $(0.82)
Diluted earnings (loss) per share:         
Diluted earnings (loss) per share from continuing operations $(2.60) $(2.23) $(0.83)
Diluted earnings (loss) per share from discontinued operations $0.00 $0.00 $0.01
Diluted loss per share $(2.60) $(2.23) $(0.82)

For the years ended September 30, 2011, 2010 and 2009, 20,000, 158,500 and 158,500 stock options, respectively, were excluded from the computation of fully diluted earnings per share because the exercise prices of the options were greater than the average price of our common stock. For the years ended September 30, 2011, 2010 and 2009, 376,200, 348,086 and 230,176 shares, respectively, of restricted stock were excluded from the computation of fully diluted earnings per share because we reported a loss from continuing operations.