Per Share Information

12 Months Ended

Sep. 30, 2015

5. PER SHARE INFORMATION

Basic earnings per share is calculated as income (loss) available to common stockholders, divided by the weighted average number of common shares outstanding during the period. If the effect is dilutive, participating securities are included in the computation of basic earnings per share. Our participating securities do not have a contractual obligation to share in the losses in any given period. As a result, these participating securities will not be allocated any losses in the periods of net losses, but will be allocated income in the periods of net income using the two-class method.

The following table reconciles the components of the basic and diluted loss per share for the years ended September 30, 2015, 2014 and 2013:

	Years Ended September 30,
	2015		2014		2013
Numerator:
Net income (loss) from continuing operations attributable to common shareholders	$	16,792	$	5,500	$	(2,178)
Net income from continuing operations attributable to restricted shareholders		85		22		-
Net income (loss) from continuing operations	$	16,877	$	5,522	$	(2,178)
Net loss from discontinued operations attributable to common shareholders	$	(339)	$	(198)	$	(1,395)
Net loss from discontinued operations	$	(339)	$	(198)	$	(1,395)
Net income (loss) attributable to common shareholders	$	16,453	$	5,302	$	(3,573)
Net income attributable to restricted shareholders		85		22		-
Net income (loss)	$	16,538	$	5,324	$	(3,573)

Denominator:
Weighted average common shares outstanding — basic		21,480,622		18,417,564		15,460,424
Effect of dilutive stock options and non-vested restricted stock		45,566		55,856		-
Weighted average common and common equivalent shares outstanding — diluted		21,526,188		18,473,420		15,460,424

Basic income (loss) per share:
Basic income (loss) per share from continuing operations	$	0.79	$	0.30	$	(0.14)
Basic loss per share from discontinued operations	$	(0.02)	$	(0.01)	$	(0.09)
Basic income (loss) per share	$	0.77	$	0.29	$	(0.23)
Diluted income (loss) per share:
Diluted income (loss) per share from continuing operations	$	0.79	$	0.30	$	(0.14)
Diluted loss per share from discontinued operations	$	(0.02)	$	(0.01)	$	(0.09)
Diluted income (loss) per share	$	0.77	$	0.29	$	(0.23)

On August 7, 2014, we completed a rights offering of common stock to our stockholders at a subscription price that was lower than the market price of our common stock at closing of the offering. For information on the rights offering, please see “Note 11 – Stockholders’ Equity.” The rights offering was deemed to contain a bonus element that is similar to a stock dividend requiring us to adjust the weighted average number of common shares used to calculate basic and diluted earnings per share in prior periods retrospectively by a factor of 1.0340 . Weighted average shares for the year ended September 30, 2013 prior to giving effect to the rights offering were 14,952,054.