Note 9 - Earnings per Share

12 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 9

– Earnings per Share

Basic and diluted earnings per share for the years ended September 30

, 2015, 2014 and 2013 are:

	2015		2014			2013
Income from continuing operations	$	1,497,900	$	659,189		$	1,771,923
Discontinued operations, net of tax		−		(666,046	)		(102,207	)
Net income (loss) attributable to common shareholders	$	1,497,900	$	(6,857	)	$	1,669,716
Basic weighted average shares		10,055,052		10,021,431			10,052,359
Effect of dilutive securities:
Stock options		−		28,009		–
Diluted weighted average shares		10,055,052		10,049,440			10,052,359
Earnings (loss) per common share:
Basic
Continuing operations	$	0.15	$	0.07		$	0.18
Discontinued operations		−		(0.07	)		(0.01	)
Net income (loss)	$	0.15	$	(0.00	)	$	0.17
Diluted
Continuing operations	$	0.15	$	0.07		$	0.18
Discontinued operations		−		(0.07	)		(0.01	)
Net income (loss)	$	0.15	$	(0.00	)	$	0.17

The table below includes information related to stock options that were outstanding at the end of each respective year but have been excluded from the computation of weighted-average stock options for dilutive securities due to the option exercise price exceeding the average market price per share of our common stock for the fiscal year, or their effect would be anti-dilutive.

	2015		2014		2013
Stock options excluded		535,000		310,000		363,000
Weighted average exercise price of stock options	$	2.88	$	3.37	$	2.83
Average market price of common stock	$	2.38	$	2.76	$	2.24