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Earnings Per Share
 12 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

C. 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 reconciles basic and diluted weighted average shares used in the computation of earnings per share for the years ended September 30, 2014, 2013 and 2012 (in thousands, except per share data):

 

 

Year Ended September 30,

 

 

2014

 

 

2013

 

 

2012

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

$

19,620

 

 

$

39,739

 

 

$

28,743

 

Income from discontinued operations

 

9,604

 

 

 

2,337

 

 

 

914

 

Net income

$

29,224

 

 

$

42,076

 

 

$

29,657

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Weighted average basic shares

 

12,003

 

 

 

11,948

 

 

 

11,850

 

Dilutive effect of restricted stock units

 

55

 

 

 

46

 

 

 

75

 

Weighted average diluted shares with assumed conversions

 

12,058

 

 

 

11,994

 

 

 

11,925

 

Net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$

1.63

 

 

$

3.32

 

 

$

2.43

 

Discontinued operations

 

0.80

 

 

 

0.20

 

 

 

0.07

 

Basic earnings per share

$

2.43

 

 

$

3.52

 

 

$

2.50

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$

1.62

 

 

$

3.32

 

 

$

2.41

 

Discontinued operations

 

0.80

 

 

 

0.19

 

 

 

0.08

 

Diluted earnings per share

$

2.42

 

 

$

3.51

 

 

$

2.49