Net Income Per Share

9 Months Ended

Jun. 30, 2015

Net Income Per Share

Net Income Per Share

Note 3 — 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).

In periods with a net income, 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. In periods with a net loss, common equivalent shares are not included in the computation of diluted EPS, because to do so would be anti-dilutive.

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,
	2015		2014			2015		2014
Net income attributable to Cubic	$	2,908	$	36,686		$	8,780	$	12,206
Weighted average shares - basic	26,868		26,786			26,883		26,789
Effect of dilutive securities	57		115			77		132
Weighted average shares - diluted	26,925		26,901			26,960		26,921
Net income per share attributable to Cubic, basic	$	0.11	$	1.37		$	0.33	$	0.46
Effect of dilutive securities	—		(0.01		)	—		(0.01		)
Net income per share attributable to Cubic, diluted	$	0.11	$	1.36		$	0.33	$	0.45
Anti-dilutive employee share-based awards	—		—			—		—