Earnings Per Share
 
Basic earnings per share is calculated by dividing income available to common shareholders by the weighted average number of common shares outstanding and restricted stock grants that vested or are likely to vest during the period. Diluted earnings per share is calculated by dividing income available to common shareholders by the weighted average number of basic common shares outstanding, adjusted to reflect potentially dilutive securities. Diluted earnings per share is calculated using the treasury stock method.

Earnings Per Share information is presented in the table below for the years ending September 30, 2025 and 2024 (in thousands except for per share amounts):
20252024
Numerator:
Net income$1,362 $7,397 
Denominator:
Denominator for basic net income per share - weighted-average outstanding shares14,387 14,169 
Effect of dilutive securities:
Stock options and restricted stock71 236 
Denominator for diluted net income per share - weighted-average outstanding shares$14,458 $14,405 
Net income per share - basic$0.09 $0.52 
Net income per share - diluted$0.09 $0.51 

Historical Timeline

Fiscal YearFiled
2025Dec 10, 2025Showing above
2024Dec 4, 2024
2023Dec 6, 2023
2022Dec 5, 2022
2021Dec 6, 2021
2020Dec 7, 2020
2019Dec 11, 2019
2018Dec 12, 2018
2017Dec 12, 2017

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.