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Earnings Per Share of Common Stock | 6 Months Ended
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Mar. 31, 2021
Earnings Per Share of Common Stock |
Earnings Per Share of Common Stock | 5. Earnings Per Share of Common Stock Basic net income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per common share reflects the maximum dilution that would have resulted from the assumed exercise and share repurchase related to dilutive stock options and is computed by dividing net income (loss) by the assumed weighted average number of common shares outstanding. We are required to present earnings per share (“EPS”), utilizing the two class method because we had outstanding, non-vested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, which are considered participating securities. Basic and diluted earnings per share computations for the Company’s reported net loss attributable to common stockholders are as follows:
|  | For the three months ended |  | For the six months ended |
|  | March 31, |  | March 31, |  | March 31, |  | March 31, |
|  | 2021 |  | 2020 |  | 2021 |  | 2020 |
|  | (Amounts in thousands except per share data) |
Net income (loss) |  | $ | (847) |  | $ | (732) |  |  | 304 |  |  | (1,272) |
Less: net income (loss) attributable to nonvested common stock |  |  | — |  |  | — |  |  | 15 |  |  | — |
Net income (loss) attributable to common stockholders |  | $ | (847) |  | $ | (732) |  | $ | 289 |  | $ | (1,272) |
Weighted average total shares outstanding – basic |  |  | 4,158 |  |  | 4,036 |  |  | 4,326 |  |  | 3,999 |
Less: weighted average non–vested shares outstanding |  |  | — |  |  | — |  |  | 209 |  |  | — |
Weighted average number of common shares outstanding – basic |  |  | 4,158 |  |  | 4,036 |  |  | 4,117 |  |  | 3,999 |
Potential common shares from non–vested stock awards and the assumed exercise of stock options |  |  | — |  |  | — |  |  | 85 |  |  | — |
Weighted average common shares outstanding – diluted |  |  | 4,158 |  |  | 4,036 |  |  | 4,202 |  |  | 3,999 |
Net income (loss) per share – basic |  | $ | (0.20) |  | $ | (0.18) |  | $ | 0.07 |  | $ | (0.32) |
Net income (loss) per share – diluted |  | $ | (0.20) |  | $ | (0.18) |  | $ | 0.07 |  | $ | (0.32) |
Non-vested restricted stock awards of 218,000 shares were excluded from the diluted loss per share calculation for the three months ended March 31, 2021. Non-vested restricted stock awards of 204,000 and 197,000 shares were excluded from the diluted loss per share calculation for the three and six months ended March 31, 2020, respectively. These awards were excluded because there was a net loss for these periods and their inclusion would have been anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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