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Net Income Per Share
9 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Net Income Per Share

13.

NET INCOME PER SHARE:

The following is a reconciliation of the shares used in the denominator for calculating basic and diluted net income per share:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2017

 

 

2018

 

 

2017

 

 

2018

 

Weighted average common shares outstanding used in

   calculating basic income per share

 

 

24,336,777

 

 

 

22,399,079

 

 

 

24,293,512

 

 

 

22,185,736

 

Effect of dilutive options and non-vested restricted stock

   awards

 

 

758,621

 

 

 

783,467

 

 

 

751,534

 

 

 

758,845

 

Weighted average common and common equivalent shares

   used in calculating diluted income per share

 

 

25,095,398

 

 

 

23,182,546

 

 

 

25,045,046

 

 

 

22,944,581

 

 

For the three months ended June 30, 2017 and 2018, there were 7,418 and 110 weighted average shares related to options outstanding and non-vested restricted stock awards, respectively, that were not included in the computation of diluted income per share because the options’ exercise prices or assumed proceeds per share were greater than the average market price of our common stock, and therefore, would have an anti-dilutive effect. For the nine months ended June 30, 2017 and 2018, there were 18,084 and 1,193 weighted average shares related to options outstanding and non-vested restricted stock awards, respectively, that were not included in the computation of diluted income per share because the options’ exercise prices or assumed proceeds per share were greater than the average market price of our common stock, and therefore, would have an anti-dilutive effect.