Net Income Per Share

9 Months Ended

Jun. 30, 2014

Net Income Per Share

Net Income Per Share

Note 4 — Net Income Per Share

Basic net income per share (EPS) is computed by dividing the net income for the period by the weighted average number of common shares outstanding during the period, including vested restricted stock units (RSUs).

Diluted EPS is computed by dividing the net income for the period by the weighted average number of common and common equivalent shares outstanding during the period. Common equivalent shares consist of dilutive restricted stock units. Dilutive restricted stock units are calculated based on the average share price for each fiscal period using the treasury stock method. For RSUs with performance-based vesting, no common equivalent shares are included in the computation of diluted EPS until the related performance criteria have been met.

Basic and diluted EPS are computed as follows (amounts in thousands, except per share data).

	Nine Months Ended					Three Months Ended
	June 30,					June 30,
	2014			2013		2014			2013
				(As Restated)					(As Restated)
Net income attributable to Cubic	$	36,686		$	62,272	$	12,206		$	18,381
Weighted average shares - basic	26,786			26,736		26,789			26,736
Effect of dilutive securities	115			9		132			26
Weighted average shares - diluted	26,901			26,745		26,921			26,762
Net income per share attributable to Cubic, basic	$	1.37		$	2.33	$	0.46		$	0.69
Effect of dilutive securities	(0.01		)	—		(0.01		)	—
Net income per share attributable to Cubic, diluted	$	1.36		$	2.33	$	0.45		$	0.69
Anti-dilutive employee share-based awards	—			—		—			—