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Note 10 - Earnings (Loss) Per Common Share

6 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

10. Earnings (Loss) Per Common Share

The following table summarizes the calculation of net earnings (loss) and weighted average common shares and common equivalent shares outstanding for purposes of the computation of earnings (loss) per share (in thousands, except share and per share data):

		*Three Months Ended*								*Six Months Ended*
		*March 31, 2025*				*March 31, 2024*				*March 31, 2025*				*March 31, 2024*
Net income (loss)		$	(9,798	)		$	(4,327	)		$	(1,422	)		$	8,352
Weighted average number of common share equivalents:
Common shares used in basic earnings (loss) per share			12,792,803				13,343,793				12,772,981				13,297,324
Common share equivalents outstanding related to RSUs			—				—				—				174,451
Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share			12,792,803				13,343,793				12,772,981				13,471,775
Earnings (loss) per share:
Basic		$	(0.77	)		$	(0.32	)		$	(0.11	)		$	0.63
Diluted		$	(0.77	)		$	(0.32	)		$	(0.11	)		$	0.62

For the calculation of diluted earnings per share for each of the three and six months ended March 31, 2025, there were 354,965 non-vested RSUs, respectively, excluded from the calculation of weighted average shares outstanding since their impact on diluted earnings per share were antidilutive. For the calculation of diluted earnings per share for the three and six months ended March 31, 2024, there were 400,020 and 225,569 non-vested RSUs, respectively, excluded from the calculation of weighted average shares outstanding since their impact on diluted earnings per share were antidilutive.