XML 29 R18.htm IDEA: XBRL DOCUMENT v3.25.0.1
Note 10 - Earnings Per Share
 3 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

10.

Earnings Per Share

 

Basic EPS for the three months ended December 31, 2024 and 2023 was calculated by dividing net income by the weighted-average common shares outstanding during the period.  Diluted EPS was calculated by dividing net income by the weighted-average common shares outstanding during the period plus potential dilutive common shares.  Potential dilutive common shares are calculated in accordance with the treasury stock method, which assumes that proceeds from the exercise of all options are used to repurchase common stock at market value. The number of shares remaining after the proceeds are exhausted represents the potentially dilutive effect of the securities. The computation of diluted EPS for the three months ended December 31, 2024 and 2023 excludes potentially dilutive shares of 2,117 and 3,730, respectively, because to include them would be antidilutive for the period. However, these shares could potentially dilute EPS in the future.

 

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

 

  

Three Months Ended December 31,

 
  

2024

  

2023

 

Net income

 $5,269,689  $5,019,992 

Weighted-average common shares

  10,259,717   10,029,243 

Effect of dilutive securities:

        

Options to purchase common stock

  4,280   2,111 

Diluted average common shares

  10,263,997   10,031,354 

Earnings per share of common stock:

        

Basic

 $0.51  $0.50 

Diluted

 $0.51  $0.50