Earnings Per Share

12 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

F.    Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	Year Ended September 30,
	2011			2010		2009
Numerator:
Net income (loss) attributable to Powell Industries, Inc.	$	(2,715	)	$	25,008	$	39,717
Denominator:
Weighted average basic shares		11,735			11,545		11,424
Dilutive effect of stock options, restricted stock and restricted stock units (1)		—			148		167
Weighted average diluted shares with assumed conversions		11,735			11,693		11,591
Net earnings (loss) per share:
Basic	$	(0.23	)	$	2.17	$	3.48
Diluted	$	(0.23	)	$	2.14	$	3.43

(1) In fiscal year 2011, these items were excluded from diluted income (loss) per share as the effect would have been anti-dilutive.

Approximately 23,000 shares related to outstanding stock options and restricted stock units were excluded from the computation of diluted earnings (loss) per share because they were antidilutive. All options were included in the computation of diluted earnings per share for the years ended September 30, 2010 and 2009, respectively, as the options’ exercise prices were less than the average market price of our common stock.