EARNINGS PER SHARE:

12 Months Ended

Sep. 30, 2011

4. EARNINGS PER SHARE:

Basic earnings per share available to common shareholders is calculated by dividing net income less preferred stock dividend requirements by the weighted average common shares outstanding for each period. Diluted earnings per share available to common shareholders is calculated by dividing income from operations less preferred stock dividend requirements (when anti-dilutive) by the sum of the weighted average common shares outstanding and the weighted average dilutive options, using the treasury stock method. There were no anti-dilutive stock options or potential common stock options at either September 2011 or September 2010.

	For Fiscal Years

	2011 Basic			2010 Basic
Weighted average number of shares outstanding		594,185			564,355

Net income	$	8,064,036		$	8,965,812
Deduct: convertible preferred stock dividends		(286,397	)		(297,025	)

Net income available to common shareholders	$	7,777,639		$	8,668,787

Net earnings per share available to common shareholders	$	13.09		$	15.36

	2011 Diluted		2010 Diluted

Weighted average common shares outstanding		594,185		564,355
Weighted average of net additional shares outstanding assuming dilutive options exercised and proceeds used to purchase treasury stock(1)		178,404		183,507

Weighted average number of shares outstanding		772,589		747,862

Net income	$	8,064,036	$	8,965,812
Deduct: convertible preferred stock dividends(2)		—		—

Net income available to common shareholders	$	8,064,036	$	8,965,812

Net earnings per share available to common shareholders	$	10.44	$	11.99

(1): Diluted earnings per share calculation includes all stock options, convertible preferred stock, restricted stock, and restricted stock units deemed to be dilutive.
(2): Diluted earnings per share calculation excludes dividend payments for convertible preferred stock deemed to be dilutive, as those amounts are assumed to have been converted to common stock of the Company.