INCOME PER COMMON SHARE

6 Months Ended

Mar. 31, 2026

The following table provides a reconciliation of the basic and diluted earnings per share (“EPS”) computations for the three and six months ended March 31, 2026 and 2025:


	Three Months Ended March 31,						Six Months Ended March 31,
(in thousands, except per share data)	2026			2025			2026			2025
Income:
Consolidated net income	$	999		$	1,440		$	1,699		$	2,099
Net income attributable to noncontrolling interests		(282	)		—			(563	)		—
Net income attributable to Janel Corporation		717			1,440			1,136			2,099
Preferred stock dividends		(112	)		(108	)		(212	)		(194	)
Non-controlling interest dividends		—			—			—			(243	)
Net income available to common stockholders	$	605		$	1,332		$	924		$	1,662

Common Shares:
Basic - weighted average common shares		1,186			1,186			1,186			1,186
Effect of dilutive securities:
Stock options		24			20			29			20
Diluted - weighted average common stock		1,210			1,206			1,215			1,206

Income per Common Share:
Basic
Consolidated net income	$	0.84		$	1.21		$	1.43		$	1.77
Net income attributable to noncontrolling interests		(0.24	)		—			(0.47	)		—
Preferred stock dividends		(0.09	)		(0.09	)		(0.18	)		(0.16	)
Noncontrolling interest dividends		—			—			—			(0.20	)
Net income available to common shareholders	$	0.51		$	1.12		$	0.78		$	1.41
Diluted
Consolidated net income	$	0.83		$	1.19		$	1.40		$	1.74
Net income attributable to noncontrolling interests		(0.24	)		—			(0.47	)		—
Preferred stock dividends		(0.09	)		(0.09	)		(0.17	)		(0.16	)
Noncontrolling interest dividends		—			—			—			(0.20	)
Net income available to common stockholders	$	0.50		$	1.10		$	0.76		$	1.38

The computation for the diluted number of shares excludes unexercised stock options that are anti-dilutive. There were 10 anti-dilutive shares for each of the three- and six-month periods ended March 31, 2026 and 22.5 anti-dilutive shares for each of the three- and six-month periods ended March 31, 2025.