Earnings Per Share

12 Months Ended

Sep. 30, 2020

Earnings Per ShareWe compute basic earnings per share by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per common and potential common share includes the weighted average of additional shares associated with the incremental effect of dilutive restricted stock and restricted stock units, as prescribed by the FASB guidance on earnings per share.

The following table reconciles basic and diluted weighted average shares used in the computation of earnings per share (in thousands, except per share data):


	Year Ended September 30,
	2020		2019		2018
Numerator:
Net income (loss)	$	16,660	$	9,890	$	(7,152)
Denominator:
Weighted average basic shares	11,624		11,571		11,507
Dilutive effect of restricted stock units	69		63		—
Weighted average diluted shares with assumed conversions	11,693		11,634		11,507

Earnings (loss) per share:
Basic	$	1.43	$	0.85	$	(0.62)
Diluted	$	1.42	$	0.85	$	(0.62)

For the year ended September 30, 2018, we incurred a net loss; therefore, all potential common shares were deemed to be anti-dilutive.