EARNINGS PER SHARE

6 Months Ended

Mar. 31, 2012

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 14 − EARNINGS PER SHARE

Basic earnings per share ("Basic EPS") is computed using the weighted average number of common shares outstanding during the period, inclusive of nonvested share-based awards that are entitled to receive non-forfeitable dividends.  The diluted earnings per share ("Diluted EPS") computation takes into account the effect of potential dilutive common shares.  Potential common shares, consisting primarily of stock options, warrants and director deferred shares, are calculated using the treasury stock method.

Due to the losses for the periods presented, stock options and warrants outstanding were antidilutive and, therefore, excluded from the Diluted EPS computation.  As a result, Basic EPS and Diluted EPS shares were the same. Excluded from the Diluted EPS calculation for the three months ended March 31, 2012 and 2011 were outstanding options to purchase 1.0 million shares of common stock at a weighted average exercise price of $16.27 and $16.25, respectively, as well as outstanding warrants to purchase 3.7 million shares of common stock at an average exercise price of $5.11.