Net Income Per Share

6 Months Ended

Mar. 31, 2013

Net Income Per Share [Abstract]

NET INCOME PER SHARE

NOTE 2 – NET INCOME PER SHARE

Basic net income per share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income attributable to common shareholders plus interest expense related to the Company's Convertible Subordinated Debentures (Debentures) by the weighted-average number of common shares outstanding plus the weighted-average number of net shares that would be issued upon exercise of stock options pursuant to the treasury stock method, plus the number of shares resulting from the possible conversion of the Debentures during the period. During the three months ended December 31, 2012, the Company redeemed all of its Debentures (see Note 6). Interest expense of $175,800 and $351,600 for the three and six months ended March 31, 2012, respectively, and 850,000 common shares to be issued upon conversion related to the potential conversion of the outstanding Debentures as of March 31, 2012 were excluded from the calculation due to their antidilutive effect.

In addition, common stock equivalents of 218,687 and 160,540 shares are included in the diluted weighted average shares outstanding for the three months ended March 31, 2013 and 2012, respectively, and common stock equivalents of 213,406 and 118,761 shares are included in the diluted weighted average shares outstanding for the six months ended March 31, 2013 and 2012, respectively. As of March 31, 2013 and 2012, options to purchase -0- and 65,000 shares of common stock, respectively, were antidilutive.