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EARNINGS PER SHARE:
 12 Months Ended
Sep. 30, 2013
EARNINGS PER SHARE:  
EARNINGS PER SHARE:

3. 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.

Shares of common stock underlying outstanding stock options and restricted stock unit awards at September 2013 and September 2012 which were anti-dilutive were not included in the computations of diluted earnings per share. Such anti-dilutive awards excluded from the computation of diluted earnings per share included 500 shares of common stock with an average exercise price of $65.97 at September 2013 and 5,950 shares of common stock with an average exercise price of $54.53 at September 2012.

 
   For Fiscal Years  
 
   2013
Basic		   2012
Basic		  

Weighted average common shares outstanding

     622,904     614,046  
           

Net income

   $ 5,858,672   $ 7,367,562  

Deduct: convertible preferred stock dividends

     (205,218 )   (269,095 )
           

Net income available to common shareholders

   $ 5,653,454   $ 7,098,467  
           

Net earnings per share available to common shareholders

   $ 9.08   $ 11.56  
           


 

 
   2013
Diluted		   2012
Diluted		  

Weighted average common shares outstanding

     622,904     614,046  

Weighted average of net additional shares outstanding assuming dilutive options exercised and proceeds used to purchase treasury stock and conversion of preferred stock(1)

     128,908     170,062  
           

Weighted average number of shares outstanding

     751,812     784,108  
           

Net income

   $ 5,858,672   $ 7,367,562  

Deduct: convertible preferred stock dividends(2)

     —     —  
           

Net income available to common shareholders

   $ 5,858,672   $ 7,367,562  
           

Net earnings per share available to common shareholders

   $ 7.79   $ 9.40  
           
(1)
Diluted earnings per share calculation includes all stock options, convertible preferred 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.