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Earnings Per Share of Common Stock

3 Months Ended

Dec. 31, 2021

Earnings Per Share of Common Stock

Earnings Per Share of Common Stock

5.            Earnings Per Share of Common Stock

Basic net (loss) income  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					​
​	​	December 31,		​	December 31,		​
​		2021			2020		​
​	​	​	​	​	​	​	​
Net (loss) income		$	(366)		$	1,151
Less: net (loss) income attributable to nonvested common stock		​	—		​	54
Net (loss) income attributable to common shareholders	​	$	(366)		$	1,097	​
​	​	​	​	​	​	​	​
Weighted average total shares outstanding – basic	​		4,200			4,277	​
Less: weighted average non–vested shares outstanding	​		—			203	​
Weighted average number of common shares outstanding – basic	​		4,200			4,074	​
Add: potential common shares from non–vested stock awards and the assumed exercise of stock options	​		—			98	​
Weighted average common shares outstanding – diluted	​		4,200			4,172	​
​	​	​	​	​	​	​	​
Net (loss) income per share - basic	​	$	(0.09)	​	$	0.27	​
Net (loss) income per share - diluted	​	$	(0.09)	​	$	0.26	​

​

Non-vested restricted stock awards of 194 thousand shares were excluded from the diluted loss per share calculation for the three months ended December 31, 2021. These awards were excluded because there was a net loss for this period and their inclusion would have been anti-dilutive.

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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