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Net Income Per Share
 12 Months Ended
Sep. 30, 2011
Net Income Per Share [Abstract]  
Net Income Per Share

15. NET INCOME PER SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period increased to include the number of dilutive potential common shares outstanding during the period. The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method, which assumes that the proceeds from the exercise of the outstanding options and warrants are used to repurchase common stock at market value. Under the treasury stock method, an increase in the fair market value of the Company's common stock can result in a greater dilutive effect from potentially dilutive securities. If the Company has losses for the period, the inclusion of potential common stock instruments outstanding would be anti-dilutive. In addition, under the treasury stock method, the inclusion of stock options and warrants with an exercise price greater than the per share market value, would be antidilutive. Potential common shares that would be antidilutive are excluded from the calculation of diluted income per share.

The following table sets forth the computation of basic and diluted earnings per share:

 

     Year Ended September 30,  
     2011      2010  

Basic

      

Income from continuing operations

    $ 4,953,448         3,032,674   

Income (loss) from discontinued operations

      69,454         (49,061 ) 
  

 

 

     

 

 

  

Income available to common stockholders

    $ 5,022,902       $ 2,983,613   
  

 

 

     

 

 

  

Weighted average common shares outstanding (basic)

      31,755,157         30,589,212   
  

 

 

     

 

 

  

Basic income per common share, continuing operations

    $ 0.16       $ 0.10   
  

 

 

     

 

 

  

Basic income per common share, discontinued operations

    $ 0.00       $ 0.00   
  

 

 

     

 

 

  

Basic income per common share

    $ 0.16       $ 0.10   
  

 

 

     

 

 

  

Diluted

      

Income from continuing operations

    $ 4,953,448         3,032,674   

Income (loss) from discontinued operations

      69,454         (49,061 ) 
  

 

 

     

 

 

  

Income available to common stockholders

    $ 5,022,902       $ 2,983,613   
  

 

 

     

 

 

  

Weighted average common shares outstanding

      31,755,157         30,589,212   

Assumed exercise of dilutive options and warrants

      967,475         522,118   
  

 

 

     

 

 

  

Common and potential common shares

      32,722,632         31,111,330   
  

 

 

     

 

 

  

Diluted income per common share, continuing operations

    $ 0.15       $ 0.10   
  

 

 

     

 

 

  

Diluted income per common share, discontinued operations

    $ 0.00       $ 0.00   
  

 

 

     

 

 

  

Diluted income per common share

    $ 0.15       $ 0.10   
  

 

 

     

 

 

  

Potentially dilutive securities outstanding at period end excluded from diluted computation as they were antidilutive

      

Options

      1,925,000         2,849,700   

Warrants

      1,627,945         1,640,509   
  

 

 

     

 

 

  

Total

      3,552,945         4,490,209