Note 6 - Earnings Per Share

12 Months Ended

Sep. 30, 2012

Earnings Per Share [Text Block]

6.   EARNINGS PER SHARE

 In accordance with ASC 260, the Company has evaluated its diluted income per share calculation. The Company has outstanding warrants at September 30, 2012, 2011 and 2010, which are not included in the determination of diluted loss per share for the fiscal 2012, 2011 and 2010 because the shares are anti-dilutive. Had these securities been dilutive, an additional 0.9 million, 0.1 million and 0.1 million, respectively, would have been included in the Company’s diluted loss per share calculation for those years.

The following is the diluted impact of the convertible debt and warrants on net loss per share for the fiscal years ended September 30, 2012, 2011 and 2010 respectively:

	Fiscal year ended September 30,
	2012		2011			2010
Numerators:
Net income (loss)	$	22,852	$	(3,574	)	$	(6,339	)
Denominators:
Average shares outstanding – basic		34,358		34,378			34,411
Impact of stock options		93		-			-
Average shares outstanding – diluted		34,451		34,378			34,411
Basic earnings (loss) per share	$	0.67	$	(0.10	)	$	(0.18	)
Diluted earnings (loss) per share	$	0.66	$	(0.10	)	$	(0.18	)