Net Income (Loss) per Common Share

9 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Net Income (Loss) per Common Share

Note 8. Net Income (Loss) per Common Share

Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive securities for this calculation consist of in-the-money outstanding stock options, restricted stock grants and warrants (which were assumed to have been exercised at the average market price of the common shares during the reporting period). The treasury stock method is used to measure the dilutive impact of in-the-money stock options.

The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding:

	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Weighted-average shares outstanding – basic		12,270,900		11,144,262		12,264,622		9,924,190
Effect of potentially dilutive securities
Stock options		91,004		259,489		0		0
Restricted stock grants		182,097		131,200		0		0
Weighted-average shares outstanding – diluted		12,544,001		11,534,951		12,264,622		9,924,190
Excluded from diluted weighted-average shares outstanding:
Antidilutive		306,596		39,008		760,564		701,867