EARNINGS (LOSS) PER SHARE

3 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) 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 (loss) per share (“Diluted EPS”) computation takes into account the effect of potential dilutive common shares.  Potential common shares, consisting primarily of outstanding stock options, warrants and director deferred shares, are calculated using the treasury stock method.

The following table presents a reconciliation of the shares used in the computation of Basic EPS and Diluted EPS (in thousands):

	Three Months Ended
	December 31, 2011
Shares
Basic shares outstanding	19,641
Dilutive effect of outstanding stock options, warrants and director units	398
Dilutive shares outstanding	20,039

 For the three months ended December 31, 2012, the Basic EPS and Diluted EPS shares were the same because the impact of potential dilutive securities would have been antidilutive.  Accordingly, the following were excluded from the Diluted EPS computation: outstanding options to purchase 1.0 million shares of common stock (weighted average price per share of $16.26), and warrants to purchase 3,690,000 shares of common shares (exercise price per share of $5.10).