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Earnings Per Share of Common Stock

3 Months Ended

Dec. 31, 2024

Earnings Per Share of Common Stock

Earnings Per Share of Common Stock

3.            Earnings Per Share of Common Stock

Basic net income (loss) per common share is computed by dividing net income (loss) attributable to common shareholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per

share includes the dilutive effect of restricted stock, if any, calculated using the treasury stock method. For unvested restricted stock, assumed proceeds under the treasury stock method would include unamortized compensation cost.

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. A net loss is not allocated to these participating securities as there are no contractual obligations that require participation in the Company’s losses.

Basic and diluted earnings per share computations for the Company’s reported net loss attributable to common stockholders are as follows:

​

​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	December 31,		​	December 31,
​		2024			2023
​	​	​	​	​	​	​
Net income (loss)		$	472		$	(73)
Less: net income attributable to nonvested common stock		​	(34)		​	—
Net income (loss) attributable to common shareholders	​	$	438		$	(73)
​	​	​	​	​	​	​
Weighted average total shares outstanding - basic	​	​	9,828	​	​	8,864
Less: weighted average non–vested shares outstanding	​	​	(704)	​	​	—
Weighted average number of common shares outstanding - basic	​	​	9,124		​	8,864
Add: potential common shares from non-vested stock awards	​	​	495		​	—
Weighted average common shares outstanding - diluted	​	$	9,619		​	8,864
​	​	​	​	​	​	​
Net income (loss) per common share - basic	​	$	0.05	​	$	(0.01)
Net income (loss) per common share - diluted	​	$	0.05	​	$	(0.01)

​

Anti-dilutive securities include restricted stock, which are excluded from the diluted income (loss) per common share computation. Non-vested restricted stock awards of 207 thousand were excluded from the diluted loss per common share calculation for the three months ended December 31, 2023 because there was a net loss for this period and their inclusion would have been anti-dilutive.

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- References

No definition available.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-3

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