Earnings Per Share

12 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

E.  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,
	2012	2011	2010
Numerator:
Net income (loss) attributable to Powell Industries, Inc.	$ 29,657	$ (2,715)	$ 25,008
Denominator:
Weighted average basic shares	11,850	11,735	11,545
Dilutive effect of stock options, restricted stock and restricted stock units (1)	75	—	148
Weighted average diluted shares with assumed conversions	11,925	11,735	11,693
Net earnings (loss) per share:
Basic	$ 2.50	$ (0.23)	$ 2.17
Diluted	$ 2.49	$ (0.23)	$ 2.14

(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 at September 30, 2011.  All options were included in the computation of diluted earnings per share for the years ended September 30, 2012 and 2010, respectively, as the options’ exercise prices were less than the average market price of our common stock.