Note 2 - Net Income Per Share

3 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 2. Net Income Per Share

Basic net income per common share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options, when dilutive.

The following is a reconciliation of the numerator and denominator of the net income per common share computations for the three months ended December 31, 2021 and 2020:

	Three Months Ended December 31,
(In thousands, except for share information)	2021		2020
Net income	$	10,389	$	3,163
Weighted average common shares		13,743,503		13,692,533
Dilutive potential common shares		154,284		4,282
Weighted average dilutive common shares outstanding		13,897,787		13,696,815
Net income per common share:
Basic	$	0.76	$	0.23
Diluted	$	0.75	$	0.23