Earnings Per Share

6 Months Ended

Mar. 31, 2021

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 March 31,				Six months ended March 31,
	2021		2020		2021		2020
Numerator:
Net income (loss)	$	(225)	$	7,421	$	(589)	$	10,196
Denominator:
Weighted average basic shares	11,707		11,621		11,690		11,617
Dilutive effect of restricted stock units	—		60		—		56
Weighted average diluted shares	11,707		11,681		11,690		11,673
Earnings (loss) per share:
Basic	$	(0.02)	$	0.64	$	(0.05)	$	0.88
Diluted	$	(0.02)	$	0.64	$	(0.05)	$	0.87

For the three and six months ended March 31, 2021, we incurred a net loss and therefore all potential common shares were deemed to be anti-dilutive.