Net Loss Per Share Data

3 Months Ended

Dec. 31, 2021

8. Net Loss Per Share Data

Basic net (loss) income per common share is calculated by dividing net (loss) income by the weighted average number of common shares outstanding during the period. Diluted net (loss) income per common share is computed by dividing net (loss) income by the weighted average number of common and common equivalent shares outstanding during the period. The Company’s potentially dilutive common shares are those that result from dilutive common stock options and non-vested stock relating to restricted stock awards and restricted stock units. However, these items have been excluded from the calculation of diluted net loss per share for the three months ended December 31, 2021 and 2020 as their effect was anti-dilutive as a result of the net loss incurred for those periods. Therefore, diluted weighted average number of shares outstanding and diluted net loss per share were the same as basic weighted average number of shares outstanding and net loss per share for the three months ended December 31, 2021 and 2020.

The following table presents the denominator for the computation of diluted weighted average shares outstanding:

	Three Months Ended
	December 31,
(In thousands)	2021		2020
Basic weighted average shares outstanding		13,878		13,668
Dilutive effect of outstanding stock options, non-vested restricted stock, and non-vested restricted stock units		—		—
Diluted weighted average shares outstanding		13,878		13,668