Earnings Per Common Share

12 Months Ended

Sep. 30, 2012

Earnings Per Common Share [Abstract]

Earnings Per Common Share

15. Earnings Per Common Share:

Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined on the assumption that outstanding dilutive stock options have been exercised and the aggregate proceeds as defined were used to reacquire common stock using the average price of such common stock for the period. Other than the disclosure of the authorized number of shares of the Company’s common stock, all share and per-share disclosures have been adjusted for all periods presented in the consolidated financial statements to give effect to the recent 2-for-1 stock split.

The following table summarizes the calculation of weighted average common shares and common equivalent shares outstanding for purposes of basic and diluted earnings per share (in thousands, except share and per share amounts):

	YEAR ENDED SEPTEMBER 30,
	2012		2011		2010
Net income	$	35,118	$	29,711	$	14,082
Weighted average common shares and common share equivalents:
Common shares		12,735,520		12,441,313		12,062,627
Common share equivalents		100,719		131,334		323,409
Total weighted average common shares and common share equivalents		12,836,239		12,572,647		12,386,036
Earnings per share:
Basic	$	2.76	$	2.39	$	1.17
Diluted	$	2.74	$	2.36	$	1.14

Options totaling zero, zero and 126,000 of common stock in fiscal years 2012, 2011 and 2010 respectively, were not included in the calculation of weighted average shares for diluted earnings per share because their effects were antidilutive.