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Note 10 - Earnings Per Share
 6 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

10.

Earnings Per Share

 

Basic earnings per common share for the three and six months ended March 31, 2024 and 2023 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 March 31,

  

Six Months Ended March 31,

 
  

2024

  

2023

  

2024

  

2023

 

Net income

 $6,443,390  $6,341,886  $11,463,382  $9,598,291 

Weighted average common shares

  10,170,595   9,911,202   10,099,533   9,870,259 

Effect of dilutive securities:

                

Options to purchase common stock

  3,411   7,506   2,751   7,242 

Diluted average common shares

  10,174,006   9,918,708   10,102,284   9,877,501 

Earnings per share of common stock:

                

Basic

 $0.63  $0.64  $1.14  $0.97 

Diluted

 $0.63  $0.64  $1.13  $0.97