Earnings (Loss) Per Common Share

3 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 7 – 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 by the weighted average number of common shares. 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, 100,731 common share equivalents related to stock options were assumed to be outstanding for the three months ended December 31, 2011. For the three months ended December 31, 2012, no common share equivalents related to stock options were included in the calculation of dilutive shares since there was a loss from continuing operations and the inclusion of common share equivalents would be anti-dilutive. Also, if the Company had not been in a loss position as of December 31, 2012, 116,834 shares of restricted stock would have been considered in the denominator used to calculate diluted earnings per common share. In addition, as of December 31, 2012 and 2011, common stock options for 774,483 and 815,624 shares, respectively, with exercise prices above current quarterly average market price per share have been excluded from the calculation of dilutive earnings per share since their effect is also anti-dilutive.

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

	December 31, 2012		December 31, 2011
Weighted average shares outstanding
Basic		14,673,356		15,583,103
Effect of dilutive securities
Stock Options		0		100,731
Dilutive Average Shares Outstanding		14,673,356		15,683,834