Net Income (Loss) Per Share

3 Months Ended

Dec. 31, 2017

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Note 3 — Net Income (Loss) Per Share

Basic net income (loss) per share (EPS) is computed by dividing the net income (loss) 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. For the three months ended December 31, 2017 and December 31, 2016, the effect of 1.0 million and 1.1 million shares of restricted stock, respectively, were excluded from diluted loss per share that would have been included if we had been in a net income position.

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

	Three Months Ended
	December 31,
	2017		2016
Net loss	$	(9,786)	$	(2,868)
Weighted average shares - basic		27,207		27,086
Effect of dilutive securities		—		—
Weighted average shares - diluted		27,207		27,086
Net loss per share, basic	$	(0.36)	$	(0.11)
Effect of dilutive securities		—		—
Net loss per share, diluted	$	(0.36)	$	(0.11)