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INCOME (LOSS) PER SHARE

12 Months Ended

Sep. 30, 2021

INCOME (LOSS) PER SHARE

INCOME (LOSS) PER SHARE

4.    INCOME (LOSS) PER SHARE

The Company computes basic income (loss) per share using the weighted average number of common shares outstanding. The Company had two categories of dilutive potential common shares: the Series A preferred shares issued in May 2011 in connection with the registered direct offering and shares issuable upon exercise of options. We compute diluted earnings per share using the if-converted method for preferred stock and the treasury stock method for stock options, respectively. Shares issuable upon exercise of 674,000 stock options were included in computing diluted net income per share for the year ended September 30, 2021. There were no Series A preferred shares outstanding as of September 30, 2021. Shares issuable upon exercise of 711,760 stock options and 12,500 common shares issuable upon conversion of preferred shares were not considered in computing diluted income (loss) per share for the year ended September 30, 2020, because they were anti-dilutive.

Computation of basic and diluted net income (loss) per share is shown in the following table:

​

​	​	​	​	​	​	​
​	​	​	​	​	​	​
​	​	Fiscal Year Ended September 30,
​		2021			2020
Basic and diluted net income (loss) per share:	​	​			​
Net income (loss) applicable to common shareholders	​	$	10,895	​	$	(4,685)
Diluted net income (loss) applicable to common shareholders	​	$	2,573	​	$	(4,685)
Weighted average common shares outstanding (in thousands)	​		​	​		​
Basic	​	​	13,191	​	​	10,851
Diluted	​	​	13,865	​	​	10,851
Net income (loss) per share	​	​	​	​	​	​
Basic	​	$	0.83	​	$	(0.43)
Diluted	​	$	0.19	​	$	(0.43)

​

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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