Earnings Per Share

9 Months Ended

Jun. 30, 2014

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 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				Nine Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
Numerator:
Income from continuing operations		2,947		9,083		17,190		22,806
Income from discontinued operations		-		222		9,604		702
Net income	$	2,947	$	9,305	$	26,794	$	23,508
Denominator:
Weighted average basic shares		12,015		11,941		12,004		11,932
Dilutive effect of restricted stock units		60		75		59		75
Weighted average diluted shares with assumed conversions		12,075		12,016		12,063		12,007
Net earnings per share:
Continuing operations	$	0.25	$	0.76	$	1.43	$	1.91
Discontinued operations		—		0.02		0.80		0.06
Basic earnings per share	$	0.25	$	0.78	$	2.23	$	1.97
Continuing operations	$	0.24	$	0.76	$	1.43	$	1.90
Discontinued operations		—		0.02		0.80		0.06
Diluted earnings per share	$	0.24	$	0.78	$	2.23	$	1.96