Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.19.3.a.u2
Earnings Per Share
3 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

5.  Earnings Per Share

Basic earnings per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similarly to basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if potentially dilutive common shares had been issued. In the case of a net loss, diluted earnings per share is calculated in the same manner as basic EPS.

For the three months ended December 31, 2019, options for 703,000 weighted average shares were excluded from the diluted EPS calculations because they were anti-dilutive. For the three months ended December 31, 2018, options for 1,198,000 weighted average shares were excluded from the diluted EPS calculations because they were anti-dilutive. These shares could become dilutive in the future.

A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share amounts):

 

 

 

Three Months Ended December 31,

 

 

 

2019

 

 

2018

 

Numerator:

 

 

 

 

 

 

 

 

Net (loss) income from continuing operations

 

$

(1,267

)

 

$

248

 

Net loss from discontinued operations

 

$

(665

)

 

$

(2,620

)

Net loss

 

$

(1,932

)

 

$

(2,372

)

Denominator:

 

 

 

 

 

 

 

 

Weighted-average shares used to compute basic

   EPS

 

 

14,290

 

 

 

14,220

 

Common stock equivalents (1)

 

 

 

 

 

32

 

Weighted-average shares used to compute

   diluted EPS

 

 

14,290

 

 

 

14,252

 

Basic (loss) income per share from continuing

   operations

 

$

(0.09

)

 

$

0.02

 

Basic loss per share from discontinued operations

 

$

(0.05

)

 

$

(0.18

)

Net loss per basic share

 

$

(0.14

)

 

$

(0.16

)

Diluted (loss) income per share from continuing

   operations

 

$

(0.09

)

 

$

0.02

 

Diluted loss per share from discontinued operations

 

$

(0.05

)

 

$

(0.18

)

Net loss per diluted share

 

$

(0.14

)

 

$

(0.16

)

 

(1)

The number of common stock equivalents is calculated using the treasury method and the average market price during the period.