Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues $ 42,472 $ 47,043 $ 130,904 $ 147,212
Cost of revenues 25,759 27,797 79,789 89,978
Gross profit 16,713 19,246 51,115 57,234
Operating expenses:        
General and administrative expenses 8,221 12,191 30,731 37,886
Sales and marketing expenses 2,502 3,246 7,839 11,403
Total operating expenses 10,723 15,437 38,570 49,289
Operating income 5,990 3,809 12,545 7,945
Other (expense) income:        
Interest expense, net (1,155) (1,605) (3,782) (4,793)
Gain on lease settlement, net 0 0 223 0
Other income (expense) 173 (162) (133) 1,663
Total other (expense) income, net (982) (1,767) (3,692) (3,130)
Income before provision for income taxes 5,008 2,042 8,853 4,815
Provision for income taxes 1,423 562 2,402 1,331
Net income $ 3,585 $ 1,480 $ 6,451 $ 3,484
Dividends declared - common stock $ 0 $ 0 $ 0 $ 0
Earnings per share:        
Basic 2.18 0.78 3.72 1.81
Diluted $ 1.07 $ 0.41 $ 1.87 $ 0.95
Weighted average common shares outstanding:        
Basic 1,646,836 1,886,445 1,735,416 1,919,221
Diluted 3,356,043 3,625,652 3,444,623 3,663,038
Series B Convertible Preferred Stock        
Other (expense) income:        
Dividends declared - convertible preferred stock $ 0 $ 0 $ 0 $ 0
Series E Convertible Preferred Stock        
Other (expense) income:        
Dividends declared - convertible preferred stock $ 0 $ 0 $ 0 $ 0