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7. EARNINGS/(LOSS) PER SHARE
 6 Months Ended
Mar. 31, 2021
(Loss)/earnings (Loss)/earnings  
EARNINGS/(LOSS) PER SHARE

NOTE 7                  EARNINGS/(LOSS) PER SHARE

 

Basic earnings/(loss) per share data for each period presented is computed using the weighted average number of shares of common stock outstanding during each such period. Diluted earnings/(loss) per share data is computed using the weighted average number of common and dilutive common equivalent shares outstanding during each period. Dilutive common equivalent shares consist of shares that would be issued upon the exercise of stock options and warrants, computed using the treasury stock method. A reconciliation of basic and diluted earnings/(loss) per share is as follows:

 

   For the Three Months Ended
March 31,		   For the Six Months Ended
March 31,		 
   2021   2020   2021   2020 
Numerator:                
Net (loss)/income  $(835,000)  $(1,372,000)  $364,000   $(1,453,000)
Denominator:                    
Weighted average common shares outstanding   9,909,000    9,534,000    9,897,000    9,534,000 
Dilutive common share equivalents   –    –    482,000    – 
Weighted average diluted shares outstanding   9,909,000    9,534,000    10,379,000    9,534,000 
                     
(Loss)/earnings per share                    
Basic  $(0.08)  $(0.14)  $0.04   $(0.15)
Diluted  $(0.08)  $(0.14)  $0.04   $(0.15)

 

The following securities were excluded from the calculation of diluted earnings/(loss) per share in each period because their inclusion would have been anti-dilutive:

 

   For the Three Months Ended
March 31,		   For the Six Months Ended
March 31,		 
   2021   2020   2021   2020 
Options   1,049,000    1,004,000    10,000    1,004,000 
Warrants   151,000    151,000    –    151,000 
Total potentially dilutive shares   1,200,000    1,155,000    10,000    1,155,000