XML 29 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
Earnings Per Share
 3 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Basic net (loss) income per common share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the weighted average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares result from dilutive common stock options and restricted stock units. Diluted net loss per common share is computed by dividing net loss by the weighted average number of common shares. All potentially dilutive common equivalent shares are excluded from the calculations of net loss per diluted share due to their anti-dilutive effect for the three month period ended December 31, 2014.
The following table is a reconciliation of the numerators and denominators in the net (loss) income per common share calculations (in thousands, except per common share data):
 
Three months ended December 31,
 
2014
 
2013
Numerator:
 
 
 
Net (loss) income
$
(339
)
 
$
688

Denominator:
 
 
 
Denominator for basic net (loss) income per common share — weighted average shares outstanding
24,150

 
25,716

Effect of dilutive securities:
 
 
 
Stock options and restricted stock units
—

 
513

Denominator for diluted net (loss) income per common share — adjusted weighted average shares
24,150

 
26,229

Net (loss) income per common share, basic
$
(0.01
)
 
$
0.03

Net (loss) income per common share, diluted
$
(0.01
)
 
$
0.03


For the three months ended December 31, 2014 and 2013, there were 5,676,561 and 2,699,776 potentially dilutive shares, respectively, related to stock options to purchase common shares that were not included in the above computation of diluted earnings per common share. This is because the options’ exercise prices were greater than the average market price of our common shares. In addition, due to the net loss for the three months ended December 31, 2014, there were 312 thousand common stock options and restricted stock units that were not included in the above computation of diluted earnings per share.