Earnings Per Share

9 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

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,
	2023		2022		2023		2022
Numerator:
Net income	$	18,454	$	9,061	$	28,090	$	4,998
Denominator:
Weighted average basic shares	11,889		11,810		11,876		11,792
Dilutive effect of restricted stock units	251		91		230		85
Weighted average diluted shares	12,140		11,901		12,106		11,877
Earnings per share:
Basic	$	1.55	$	0.77	$	2.37	$	0.42
Diluted	$	1.52	$	0.76	$	2.32	$	0.42