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Earnings per share
 6 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Earnings per share

(6) Earnings per share. The following details the computations of the basic and diluted earnings per common share (dollars in thousands, except per share amounts):

  THREE MONTHS SIX MONTHS
  ENDED MARCH 31, ENDED MARCH 31,
  2012 2011 2012 2011
Weighted average common shares        
outstanding during the period        
 - shares used for basic        
earnings per common share 9,353 9,272 9,321 9,272
         
Common shares issuable under        
share based payment plans        
which are potentially dilutive 118 181 125 185
         
Common shares used for diluted        
earnings per common share 9,471 9,453 9,446 9,457
         
Net income $1,643 1,683 3,767 8,078
         
Earnings per common share        
Basic $0.18 0.18 0.40 0.87
Diluted $0.17 0.18 0.40 0.85

 

For the three and six months ended March 31, 2012, 164,560 and 172,060 shares attributable to outstanding stock options, respectively, were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. For the three and six months ended March 31, 2011, 132,870 shares attributable to outstanding stock options were excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive.