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EARNINGS PER SHARE

6 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE D - EARNINGS PER SHARE

Basic and diluted earnings per share for the three and six months ended March 31, 2019 and 2018 were calculated by dividing net income by the weighted-average number of shares outstanding for the period considering the effect of dilutive equity options and stock awards for the diluted earnings per share calculations.

		Three Months								Six Months
		Ended March 31,								Ended March 31,
		2019				2018				2019				2018
		(In thousands except for per share data)

Income applicable to common shares		$	767			$	396			$	1,452			$	725
Weighted average number of common shares
outstanding - basic			5,821				5,821				5,821				5,821
Stock options and restricted stock			—				—				—				—
Weighted average number of common shares
and common share equivalents - diluted			5,821				5,821				5,821				5,821

Basic earnings per share		$	0.13			$	0.07			$	0.25			$	0.12

Diluted earnings per share		$	0.13			$	0.07			$	0.25			$	0.12

There were no outstanding options to purchase common stock at March 31, 2019 and March 31, 2018.