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EARNINGS PER SHARE
 9 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE E – EARNINGS PER SHARE

Basic and diluted earnings per share for the three and nine months ended June 30, 2021 and 2020 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.

7

Three Months

Nine Months

Ended June 30,

Ended June 30,

2021

2020

2021

2020

(In thousands except for per share data)

 

Income applicable to common shares

$

1,668

$

509

$

4,510

$

1,367

Weighted average number of common shares outstanding - basic

5,811

5,815

5,811

5,821

Stock options and restricted stock

-

-

-

-

Weighted average number of common shares and common share equivalents - diluted

5,811

5,815

5,811

5,821

 

Basic earnings per share

$

0.29

$

0.09

$

0.78

$

0.24

Diluted earnings per share

$

0.29

$

0.09

$

0.78

$

0.24

There were no outstanding stock awards or options to purchase common stock at June 30, 2021 and 2020.