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Income (Loss) Per Share
 9 Months Ended
Jun. 30, 2011
Income (Loss) Per Share  
Income (Loss) Per Share

14. INCOME (LOSS) 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 potentially dilutive 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. 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:

 

    

Three Months Ended

June 30,

    

Nine Months Ended

June 30,

  
     2011     2010     2011      2010  

Basic

          

(Loss) income from continuing operations

    $ (685,440 )    $ 83,356      $ 4,581,830       $ 2,098,083   

Income (loss) from discontinued operations

      1,606        (15,629 )      83,231         (47,305 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

(Loss) income available to common stockholders

    $ (683,834 )    $ 67,727      $ 4,665,061       $ 2,050,778   
  

 

 

    

 

 

    

 

 

     

 

 

  

Weighted average common shares outstanding (basic)

      32,335,846        30,611,456        30,616,660         30,581,706   
  

 

 

    

 

 

    

 

 

     

 

 

  

Basic (loss) income per common share, continuing operations

    $ (0.02 )    $ 0.00      $ 0.15       $ 0.07   
  

 

 

    

 

 

    

 

 

     

 

 

  

Basic income (loss) per common share, discontinued operations

    $ 0.00      $ (0.00 )    $ 0.00       $ (0.00 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Basic (loss) income per common share

    $ (0.02 )    $ 0.00      $ 0.15       $ 0.07   
  

 

 

    

 

 

    

 

 

     

 

 

  

Diluted

          

(Loss) income from continuing operations

    $ (685,440 )    $ 83,356      $ 4,581,830       $ 2,098,083   

Income (loss) from discontinued operations

      1,606        (15,629 )      83,231         (47,305 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

(Loss) income available to common stockholders

    $ (683,834 )    $ 67,727      $ 4,665,061       $ 2,050,778   
  

 

 

    

 

 

    

 

 

     

 

 

  

Weighted average common shares outstanding

      32,335,846        30,611,456        30,616,660         30,581,706   

Assumed exercise of options & warrants

      —          493,408        943,796         554,902   
  

 

 

    

 

 

    

 

 

     

 

 

  

Common and potential common shares

      32,335,846        31,104,864        31,560,456         31,136,608   
  

 

 

    

 

 

    

 

 

     

 

 

  

Diluited (loss) income per common share, continuing operations

    $ (0.02 )    $ 0.00      $ 0.15       $ 0.07   
  

 

 

    

 

 

    

 

 

     

 

 

  

Diluted income (loss) per common share, discontinued operations

    $ 0.00      $ (0.00 )    $ 0.00       $ (0.00 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Diluted (loss) income per common share

    $ (0.02 )    $ (0.00 )    $ 0.15       $ 0.07   
  

 

 

    

 

 

    

 

 

     

 

 

  

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

      5,784,469        4,842,904        3,747,945         4,842,904