Annual report pursuant to Section 13 and 15(d)

Earnings Per Share & Diluted Earnings Per Share

v3.22.2.2
Earnings Per Share & Diluted Earnings Per Share
 12 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share & Diluted Earnings Per Share

4. Earnings Per Share & Diluted Earnings Per Share

 

Basic EPS is computed by dividing net income (loss) available to common shareholders 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 EPS is calculated in the same manner as basic EPS.

 

For the years 2022, 2021 and 2020, options for 189,000, 101,000 and 642,000 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:

 

 

 

 

 

Years Ended September 30,

 

 

 

2022

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

$

17,367

 

 

$

1,508

 

 

$

(3,907

)

Net loss from discontinued operations

 

$

—

 

 

$

—

 

 

$

(11,816

)

Net income (loss)

 

$

17,367

 

 

$

1,508

 

 

$

(15,723

)

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute basic EPS

 

 

14,014

 

 

 

14,189

 

 

 

14,159

 

Common stock equivalents (1)

 

 

170

 

 

 

151

 

 

 

—

 

Weighted-average shares used to compute diluted EPS

 

 

14,184

 

 

 

14,340

 

 

 

14,159

 

Basic income (loss) per share from continuing operations

 

$

1.24

 

 

$

0.11

 

 

$

(0.28

)

Basic loss per share from discontinued operations

 

$

—

 

 

$

—

 

 

$

(0.83

)

Net income (loss) per basic share

 

$

1.24

 

 

$

0.11

 

 

$

(1.11

)

Diluted income (loss) per share from continuing operations

 

$

1.22

 

 

$

0.11

 

 

$

(0.28

)

Diluted loss per share from discontinued operations

 

$

—

 

 

$

—

 

 

$

(0.83

)

Net income (loss) per diluted share

 

$

1.22

 

 

$

0.11

 

 

$

(1.11

)

 

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