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NET INCOME PER SHARE
6 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
NET INCOME PER SHARE

NOTE 2 – NET INCOME PER SHARE

 

Basic Net Income per Common 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 by the weighted-average number of common shares outstanding for the period and, when dilutive, the potential net shares that would be issued upon exercise of stock options pursuant to the treasury stock method. In periods with a net loss, the basic loss per share equals the diluted loss per share as all common stock equivalents are excluded from the per share calculation because they are anti-dilutive.

 

In addition, common stock equivalents of 77,000 and 81,000 shares are included in the diluted weighted average shares outstanding for the three months ended March 31, 2020 and 2019, respectively, and common stock equivalents of 96,000 and 103,000 shares are included in the diluted weighted average shares outstanding for the six months ended March 31, 2020 and 2019. For the diluted weighted average shares outstanding for the three months ended March 31, 2020 and 2019, 315,000 and 690,000 options to purchase shares of common stock were antidilutive. For the diluted weighted average shares outstanding for the six months ended March 31, 2020 and 2019, 195,000 and 305,000 options to purchase shares of common stock, respectively, were antidilutive.