Earnings Per Share

3 Months Ended

Dec. 31, 2020

We 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):


	Three months ended December 31,
	2020		2019
Numerator:
Net income (loss)	$	(364)	$	2,775
Denominator:
Weighted average basic shares	11,674		11,614
Dilutive effect of restricted stock units	—		51
Weighted average diluted shares	11,674		11,665
Earnings per share:
Basic	$	(0.03)	$	0.24
Diluted	$	(0.03)	$	0.24

For the three months ended December 31, 2020, we incurred a net loss and therefore all potential common shares were deemed to be anti-dilutive.