Earnings Per Share

6 Months Ended

Mar. 31, 2019

Basic earnings per common share for the three months and six months ended March 31, 2019 and 2018 were calculated by dividing net income by the weighted average common shares outstanding during the period. Diluted earnings per common share were calculated by dividing net income by the weighted average common shares outstanding during the period plus potential dilutive common shares. A reconciliation of basic and diluted earnings per share is presented below:



	Three Months Ended March 31,				Six Months Ended March 31,
	2019		2018		2019		2018
Net Income	$	4,670,090	$	3,465,929	$	7,104,252	$	5,525,391
Weighted average common shares	8,032,218		7,371,694		8,017,820		7,309,215
Effect of dilutive securities:
Options to purchase common stock	40,931		41,657		44,600		45,018
Diluted average common shares	8,073,149		7,413,351		8,062,420		7,354,233
Earnings Per Share of Common Stock:
Basic	$	0.58	$	0.47	$	0.89	$	0.76
Diluted	$	0.58	$	0.47	$	0.88	$	0.75