Net Income (Loss) Per Share

9 Months Ended

Jun. 30, 2019

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Note 5 — Net Income (Loss) Per Share

Basic net income (loss) per share (EPS) is computed by dividing the net income (loss) attributable to Cubic 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 from continuing operations attributable to Cubic, 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 from continuing operations attributable to Cubic, common equivalent shares are not included in the computation of diluted EPS, because to do so would be anti-dilutive.

The weighted average number of shares outstanding used to compute net loss per common share were as follows (in thousands):

	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Weighted average shares - basic		31,160		27,232		30,267		27,221
Effect of dilutive securities		89		142		65		—
Weighted average shares - diluted		31,249		27,374		30,332		27,221
Number of anti-dilutive securities		—		—		—		1,023