Earnings Per Share

9 Months Ended

Jun. 30, 2022

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.

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 June 30,				Nine months ended June 30,
	2022		2021		2022		2021
Numerator:
Net income (loss)	$	9,061	$	(2,041)	$	4,998	$	(2,629)
Denominator:
Weighted average basic shares	11,810		11,720		11,792		11,700
Dilutive effect of restricted stock units	91		—		85		—
Weighted average diluted shares	11,901		11,720		11,877		11,700
Income (loss) per share:
Basic	$	0.77	$	(0.17)	$	0.42	$	(0.22)
Diluted	$	0.76	$	(0.17)	$	0.42	$	(0.22)

For each of the three and nine months ended June 30, 2021, we incurred net losses and therefore all potential common shares were deemed to be anti-dilutive.