EARNINGS (LOSS) PER SHARE

12 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

EARNINGS 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):

	Fiscal Year Ended
	September 30, 2012
Shares
Basic shares outstanding	19,740
Dilutive effect of outstanding stock options, warrants and director units	894
Dilutive shares outstanding	20,634

 For fiscal 2011 and 2010, 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 as of September 30, 2011 and 2010: outstanding options to purchase 2.1 million and  2.5 million (weighted average price per share of $9.90 and $9.03), respectively, and warrants to purchase 3,690,000 shares of common shares (exercise price per share of $5.10).  Additionally as of September 30, 2010, there were 69,300 shares, respectively, of restricted stock outstanding (fair value of $16.42 per share) that did not participate in dividends with the common stock and, as such, were also excluded from the Diluted EPS calculation.