Earnings Per Share

6 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

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 reconciles basic and diluted weighted average shares used in the computation of earnings per share (in thousands, except per share data):

	Three months ended March 31,					Six months ended March 31,
	2015			2014		2015			2014
Numerator:
Income (loss) from continuing operations	$	(3,683	)	$	6,976	$	(3,922	)	$	14,243
Income from discontinued operations		—			8,617		—			9,604
Net income (loss)	$	(3,683	)	$	15,593	$	(3,922	)	$	23,847
Denominator:
Weighted average basic shares		12,018			12,004		12,029			11,999
Dilutive effect of restricted stock units		—			60		—			58
Weighted average diluted shares with assumed conversions		12,018			12,064		12,029			12,057
Net earnings (loss) per share:
Continuing operations	$	(0.31	)	$	0.58	$	(0.33	)	$	1.19
Discontinued operations		—			0.72		—			0.80
Basic earnings (loss) per share	$	(0.31	)	$	1.30	$	(0.33	)	$	1.99
Continuing operations	$	(0.31	)	$	0.58	$	(0.33	)	$	1.18
Discontinued operations		—			0.71		—			0.80
Diluted earnings (loss) per share	$	(0.31	)	$	1.29	$	(0.33	)	$	1.98

For the quarter and six months ended March 31, 2015, we incurred a net loss and therefore all potential common shares were deemed to be anti-dilutive.