Earnings (Loss) Per Common Share

6 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 6 – Earnings (Loss) Per Common Share

Basic earnings (loss) per common share is computed by dividing the net income applicable or loss attributable to common shares after preferred dividends paid, if applicable, by the weighted average number of common shares outstanding during each period. Diluted earnings per common share adjusts basic earnings per share for the effects of common stock options, common stock warrants, convertible preferred stock and other potential dilutive common shares outstanding during the periods.

For purposes of computing diluted earnings per share, 535,619 common share equivalents related to stock options were assumed to be outstanding for the three and six months ended March 31, 2011. For the three and six months ended March 31, 2012, 20,485 shares of potential common stock related to stock options were excluded from the calculation of dilutive shares since we experienced a loss from continuing operations and the inclusion of potential shares would be anti-dilutive. In addition, as of March 31, 2012 and 2011, common stock options for 1,059,583 and 69,802 shares, respectively, with exercise prices above current quarterly average market price per share have been excluded from the calculation of earnings per share since their effect is anti-dilutive.

The computation of the weighted shares outstanding for the three months ended March 31 is as follows:

	Three Months Ended
	March 31,
	2012		2011
Weighted average shares outstanding
Common stock		15,002,818		15,245,850
Effect of dilutive securities
Stock Options		-0-		535,619
Dilutive Average Shares Outstanding		15,002,818		15,781,469

The computation of the weighted shares outstanding for the six months ended March 31 is as follows:

	Six Months Ended
	March 31,
	2012		2011
Weighted average shares outstanding
Common stock		15,091,356		13,955,273
Effect of dilutive securities
Stock Options		-0-		535,619
Dilutive Average Shares Outstanding		15,091,356		14,490,892