Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.2
Earnings Per Share
9 Months Ended
Jun. 30, 2020
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 and nine months ended June 30, 2020, options for 695,000 and 652,000 weighted average shares, respectively, were excluded from the diluted EPS calculations because they were anti-dilutive. For the three and nine months ended June 30, 2019, options for 819,000 and 1,062,000 weighted average shares, respectively, 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 June 30,

 

 

Nine Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income from continuing operations

 

$

(72

)

 

$

893

 

 

$

(1,882

)

 

$

2,153

 

Net income (loss) from discontinued operations

 

$

 

 

$

1,154

 

 

$

(11,816

)

 

$

(8,113

)

Net (loss) income

 

$

(72

)

 

$

2,047

 

 

$

(13,698

)

 

$

(5,960

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute basic EPS

 

 

14,155

 

 

 

14,245

 

 

 

14,195

 

 

 

14,231

 

Common stock equivalents (1)

 

 

 

 

 

71

 

 

 

 

 

 

36

 

Weighted-average shares used to compute diluted EPS

 

 

14,155

 

 

 

14,316

 

 

 

14,195

 

 

 

14,267

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic (loss) income per share from continuing operations

 

$

(0.01

)

 

$

0.06

 

 

$

(0.13

)

 

$

0.15

 

Basic income (loss) per share from discontinued operations

 

$

 

 

$

0.08

 

 

$

(0.83

)

 

$

(0.57

)

Net (loss) income per basic share

 

$

(0.01

)

 

$

0.14

 

 

$

(0.96

)

 

$

(0.42

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted (loss) income per share from continuing operations

 

$

(0.01

)

 

$

0.06

 

 

$

(0.13

)

 

$

0.15

 

Diluted income (loss) per share from discontinued operations

 

$

 

 

$

0.08

 

 

$

(0.83

)

 

$

(0.57

)

Net (loss) income per diluted share

 

$

(0.01

)

 

$

0.14

 

 

$

(0.96

)

 

$

(0.42

)

 

(1)

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