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Earnings Per Share (Tables)

3 Months Ended

Dec. 31, 2016

Earnings per share attributable to RCIHH common shareholders

Schedule of Earnings Per Share Basic and Diluted

The table below presents the reconciliation of the numerator and the denominator in the calculation of basic and diluted EPS (in thousands, except per share amounts):

	For the Three Months
	Ended December 31,
	2016		2015
Numerator -
Net income attributable to RCIHH common shareholders – basic	$	2,898	$	2,552
Adjustment to net income from assumed conversion of debentures(2)		5		85
Adjusted net income attributable to RCIHH common shareholders – diluted	$	2,903	$	2,637
Denominator(1)(3)
Weighted average number of common shares outstanding – basic		9,768		10,296
Effect of potentially dilutive convertible debentures(2)		46		339
Adjusted weighted average number of common shares outstanding – diluted		9,814		10,635

Basic earnings per share	$	0.30	$	0.25
Diluted earnings per share	$	0.30	$	0.25

(1) All outstanding restricted stock, warrants and options were considered for the EPS computation. Potentially dilutive options and warrants of 172,400 for the three months ended December 31, 2015 have been excluded from earnings per share due to their being anti-dilutive. No restricted stock or options were outstanding during the three months ended December 31, 2016.

(2) Convertible debentures (principal and accrued interest) outstanding at the beginning of the quarters ended December 31, 2016 and 2015 totaling $859,000 and $3.9 million, respectively, were convertible into common stock at a price of $10.25 and $12.50 per share in fiscal 2017 and $10.00, $10.25 and $12.50 per share in fiscal 2016.

(3) As of January 4, 2017, in relation to paying off certain convertible notes (see Note 11), the Company has no more outstanding restricted stock, stock options, warrants or convertible debt.