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Earnings Per Share
 3 Months Ended
Dec. 31, 2013
Earnings Per Share

B. EARNINGS PER SHARE

We compute basic earnings per share by dividing net income 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 restrictive stock units, as prescribed by the FASB guidance on earnings per share.

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

 

 

Three Months Ended

 

 

December 31,

 

 

2013

 

 

2012

 

Numerator:

 

 

 

 

 

 

 

Net income

$

8,255

 

 

$

7,385

 

Denominator:

 

 

 

 

 

 

 

Weighted average basic shares

 

11,994

 

 

 

11,922

 

Dilutive effect of stock options and restricted stock units

 

60

 

 

 

78

 

Weighted average diluted shares with assumed conversions

 

12,054

 

 

 

12,000

 

Net earnings per share:

 

 

 

 

 

 

 

Continuing operations

$

0.61

 

 

$

0.60

 

Discontinued operations

 

0.08

 

 

 

0.02

 

Basic earnings per share

$

0.69

 

 

$

0.62

 

 

 

 

 

 

 

 

 

Continuing operations

$

0.60

 

 

$

0.60

 

Discontinued operations

 

0.08

 

 

 

0.02

 

Diluted earnings per share

$

0.68

 

 

$

0.62