Earnings Per Share

9 Months Ended

Jun. 30, 2016

Basic earnings per share is calculated by dividing income available to common shareholders by the weighted average number of common shares outstanding and restricted stock grants that vested or are likely to vest during the period. Diluted earnings per share is calculated by dividing income available to common shareholders by the weighted average number of basic common shares outstanding, adjusted to reflect potentially dilutive securities. Diluted earnings per share is calculated using the treasury stock method.



	(in thousands)
	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Numerator:
Net income	776		437		997		489
Denominator:
Denominator for basic net income per share - weighted-average outstanding shares	10,154		9,552		9,812		9,580
Effect of dilutive securities:
Stock options and restricted stock	1,157		404		1,043		410
Denominator for diluted net income per share - weighted-average outstanding shares	11,311		9,956		10,855		9,990

Net income per share - basic	$	0.08	$	0.05	$	0.10	$	0.05
Net income per share - diluted	$	0.07	$	0.04	$	0.09	$	0.05