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Note 12 - Earnings Per Share
 3 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

12.

Earnings Per Share

 

Basic earnings per common share for the three months ended December 31, 2023 and 2022 were calculated by dividing net income by the weighted average common shares outstanding during the period. Diluted earnings per common share were calculated by dividing net income by the weighted average common shares outstanding during the period plus potential dilutive common shares.

 

A reconciliation of basic and diluted earnings per share is presented below:

 

  

Three Months Ended December 31,

 
  

2023

  

2022

 

Net income

 $5,019,992  $3,256,405 

Weighted average common shares

  10,029,243   9,830,206 

Effect of dilutive securities:

        

Options to purchase common stock

  2,111   6,982 

Diluted average common shares

  10,031,354   9,837,188 

Earnings per share of common stock:

        

Basic

 $0.50  $0.33 

Diluted

 $0.50  $0.33