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Earnings Per Share | 6 Months Ended
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Mar. 31, 2023
Earnings Per Share |
Earnings Per Share | 5. Earnings Per Share ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​ | Six Months Ended March 31,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income |  | $ | 1,271,103 |  | $ | 1,429,570 | ​ | $ | 1,969,754 |  | $ | 2,562,628
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic weighted average shares | ​ |  | 17,352,340 | ​ |  | 17,253,746 | ​ |  | 17,334,553 | ​ |  | 17,250,059
Dilutive effect of share-based awards | ​ |  | 1,690 | ​ |  | — | ​ |  | 5,551 | ​ |  | —
Diluted weighted average shares | ​ |  | 17,354,030 | ​ |  | 17,253,746 | ​ |  | 17,340,104 | ​ |  | 17,250,059
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings per common share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic EPS |  | $ | 0.07 |  | $ | 0.08 | ​ | $ | 0.11 | ​ | $ | 0.15
Diluted EPS |  | $ | 0.07 |  | $ | 0.08 | ​ | $ | 0.11 | ​ | $ | 0.15
​ Net income per share is calculated pursuant to ASC Topic 260, “Earnings per Share” (“ASC Topic 260”). Basic earnings per share (“EPS”) excludes potentially dilutive securities and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is computed assuming the conversion or exercise of all dilutive securities such as employee stock options and restricted stock units (“RSUs”). ​ The number of incremental shares from the assumed exercise of stock options and RSUs is calculated by using the treasury stock method. As of March 31, 2023 and 2022, there were 25,000 and 100,000 options to purchase common stock outstanding, respectively, and 82,886 and 0 shares subject to vesting of restricted stock units outstanding, respectively. The average outstanding diluted shares calculation excludes options with an exercise price that exceeds the average market price of shares during the period. ​ For the three-month periods ended March 31, 2023 and 2022, respectively, 277,520 and 100,000 diluted weighted-average shares outstanding were excluded from the computation of diluted EPS because the effect would be anti-dilutive. ​ For the six-month periods ended March 31, 2023 and 2022, respectively, 138,760 and 100,000 diluted weighted-average shares outstanding were excluded from the computation of diluted EPS because the effect would be anti-dilutive.

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