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Earnings Per Share
 12 Months Ended
Sep. 30, 2016
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, 2016, 2015 and 2014 (in thousands, except per share data): 

 

 

Year Ended September 30,

 

 

2016

 

 

2015

 

 

2014

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

$

15,510

 

 

$

9,439

 

 

$

19,620

 

Income from discontinued operations

 

—

 

 

 

—

 

 

 

9,604

 

Net income

$

15,510

 

 

$

9,439

 

 

$

29,224

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Weighted average basic shares

 

11,400

 

 

 

11,869

 

 

 

12,003

 

Dilutive effect of restricted stock units

 

31

 

 

 

39

 

 

 

55

 

Weighted average diluted shares with assumed conversions

 

11,431

 

 

 

11,908

 

 

 

12,058

 

Net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$

1.36

 

 

$

0.80

 

 

$

1.63

 

Discontinued operations

 

—

 

 

 

—

 

 

 

0.80

 

Basic earnings per share

$

1.36

 

 

$

0.80

 

 

$

2.43

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$

1.36

 

 

$

0.79

 

 

$

1.62

 

Discontinued operations

 

—

 

 

 

—

 

 

 

0.80

 

Diluted earnings per share

$

1.36

 

 

$

0.79

 

 

$

2.42