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EARNINGS PER SHARE
 3 Months Ended
Dec. 31, 2022
(Loss)/earnings per share:  
EARNINGS PER SHARE

NOTE 7                  EARNINGS PER SHARE

 

Basic earnings 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 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 per share is as follows: 

          
  

For the Three Months Ended

December 31,

 
   2022   2021 
Numerator:        
Net (loss)/income  $(430,000)  $180,000 
Denominator:          
Weighted average common shares outstanding   10,061,000    10,061,000 
Dilutive common share equivalents   –    276,000 
Weighted average diluted shares outstanding   10,061,000    10,337,000 
           
(Loss)/earnings per share:          
Basic  $(0.04)  $0.02 
Diluted  $(0.04)  $0.02 

 

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

          
  

For the Three Months Ended

December 31,

 
   2022   2021 
Options   1,075,000    58,000 
Warrants   151,000    – 
Total potentially dilutive shares   1,226,000    58,000