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Earnings Per Share
 6 Months Ended
Mar. 31, 2016
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 restricted 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,

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

5,567

 

 

$

(3,683

)

 

$

5,108

 

 

$

(3,922

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average basic shares

 

11,369

 

 

 

12,018

 

 

 

11,382

 

 

 

12,029

 

Dilutive effect of restricted stock units

 

53

 

 

 

—

 

 

 

33

 

 

 

-

 

Weighted average diluted shares with assumed conversions

 

11,422

 

 

 

12,018

 

 

 

11,415

 

 

 

12,029

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.49

 

 

$

(0.31

)

 

$

0.45

 

 

$

(0.33

)

Diluted

$

0.49

 

 

$

(0.31

)

 

$

0.45

 

 

$

(0.33

)

 

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