Net Income Per Share

12 Months Ended

Sep. 30, 2012

Net Income Per Share [Abstract]

NET INCOME PER SHARE

15. NET INCOME PER SHARE

Basic earnings per share are computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period increased to include the number of dilutive potential common shares outstanding during the period. The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method, which assumes that the proceeds from the exercise of the outstanding options and warrants are used to repurchase common stock at market value. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities. If the Company has losses for the period, the inclusion of potential common stock instruments outstanding would be anti-dilutive. In addition, under the treasury stock method, the inclusion of stock options and warrants with an exercise price greater than the per share market value, would be antidilutive. Potential common shares that would be antidilutive are excluded from the calculation of diluted income per share.

The following table sets forth the computation of basic and diluted earnings per share:

	Year Ended September 30,
	2012		2011
Basic
Income from continuing operations	$	1,462,020	$	4,953,448
Income from discontinued operations		—		69,454
Income available to common stockholders	$	1,462,020	$	5,022,902
Weighted average common shares outstanding		32,374,499		31,755,157
Basic income per common share, continuing operations	$	0.05	$	0.16
Basic income per common share, discontinued operations	$	0.00	$	0.00
Basic income per common share	$	0.05	$	0.16
Diluted
Income from continuing operations	$	1,462,020	$	4,953,448
Income from discontinued operations		—		69,454
Income available to common stockholders	$	1,462,020	$	5,022,902
Weighted average common shares outstanding		32,374,499		31,755,157
Assumed exercise of dilutive options and warrants		641,456		967,475
Weighted average dilutive shares outstanding		33,015,955		32,722,632
Diluited income per common share, continuing operations	$	0.04	$	0.15
Diluted income per common share, discontinued operations	$	0.00	$	0.00
Diluted income per common share	$	0.04	$	0.15
Potentially dilutive securities outstanding at period end excluded from the diluted computation as the inclusion would have been antidilutive:
Options		800,700		1,925,000
Warrants		1,627,945		1,627,945
Total		2,428,645		3,552,945