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Earnings Per Share & Diluted Earnings Per Share
 12 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share & Diluted Earnings Per Share

3.  Earnings Per Share & Diluted Earnings Per Share

 

Basic EPS is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similarly to basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if potentially dilutive common shares had been issued, and the numerator is based on net income. In the case of a net loss, diluted EPS is calculated in the same manner as basic EPS.

 

For the years 2020, 2019 and 2018, options for 642,000, 978,000 and 434,000 weighted average shares, respectively, were excluded from the diluted EPS calculations because they were anti-dilutive.  These shares could become dilutive in the future.

 

A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share amounts):

 

 

 

Years Ended September 30,

 

 

 

2020

 

 

2019

 

 

2018

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income from continuing operations

 

$

(3,907

)

 

$

3,135

 

 

$

6,631

 

Net loss from discontinued operations

 

$

(11,816

)

 

$

(8,297

)

 

$

(1,326

)

Net (loss) income

 

$

(15,723

)

 

$

(5,162

)

 

$

5,305

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute basic

   EPS

 

 

14,159

 

 

 

14,240

 

 

 

14,833

 

Common stock equivalents (1)

 

 

—

 

 

 

35

 

 

 

232

 

Weighted-average shares used to compute diluted

   EPS

 

 

14,159

 

 

 

14,275

 

 

 

15,065

 

Basic (loss) income per share from continuing

   operations

 

$

(0.28

)

 

$

0.22

 

 

$

0.45

 

Basic loss per share from discontinued

   operations

 

$

(0.83

)

 

$

(0.58

)

 

$

(0.09

)

Net (loss) income per basic share

 

$

(1.11

)

 

$

(0.36

)

 

$

0.36

 

Diluted (loss) income per share from continuing

   operations

 

$

(0.28

)

 

$

0.22

 

 

$

0.44

 

Diluted loss per share from discontinued

   operations

 

$

(0.83

)

 

$

(0.58

)

 

$

(0.09

)

Net (loss) income per diluted share

 

$

(1.11

)

 

$

(0.36

)

 

$

0.35

 

 

(1)

The number of common stock equivalents is calculated using the treasury stock method and the average market price during the period.