Earnings Per Share

9 Months Ended

Jun. 30, 2019

As described in Note 8 - Equity, the Company completed an IPO and Reclassification of common stock during the third quarter of the fiscal year ended September 30, 2018.

As described in Note 2 - Significant Accounting Policies, Earnings Per Share, diluted earnings per share is calculated by dividing net income attributable to common stockholders by the basic weighted average number of common shares outstanding and potential

dilutive common shares determined using the treasury method, as applicable for the respective periods. Securities that are anti-dilutive are not included in the calculation of diluted earnings per share.

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


Basic
	For the Three Months Ended June 30,						For the Nine Months Ended June 30,
	2019		2018		2019		2018
Numerator
Net income attributable to common stockholders	$	17,202	$	13,403	$	26,568	$	35,647
Denominator
Weighted average number of common shares outstanding, basic	51,414,619		46,557,785		51,414,619		43,648,309
Net income per common share attributable to common shareholders, basic	$	0.33	$	0.29	$	0.52	$	0.82


Diluted
	For the Three Months Ended June 30,						For the Nine Months Ended June 30,
	2019		2018		2019		2018
Numerator
Net income attributable to common stockholders	$	17,202	$	13,403	$	26,568	$	35,647
Denominator
Weighted average number of common shares outstanding, basic	51,414,619		46,557,785		51,414,619		43,648,309
Effect of dilutive securities:

2010 Non-Plan Stock Options	—		387,892		—		271,163
2018 Restricted Stock Grants	—		42,682		—		13,074
2019 Restricted Stock Grants	8,280		—		268		—
Weighted average number of common shares outstanding, diluted	51,422,899		46,988,359		51,414,887		43,932,546
Net income per common share attributable to common stockholders, diluted	$	0.33	$	0.29	$	0.52	$	0.81