Earnings Per Share

6 Months Ended

Mar. 31, 2020

The following table is a reconciliation of the numerators and denominators in the net income per common share calculations (in thousands, except per common share data):



	Three months ended March 31,				Six months ended March 31,
	2020		2019		2020		2019
Numerator:
Net income	$	2,004	$	1,342	$	2,212	$	6,024

Denominator:
Denominator for basic net income per common share — weighted average shares outstanding	28,881		27,866		28,673		27,687
Effect of dilutive securities:
Stock options and restricted stock units	605		572		912		602
Denominator for diluted net income per common share — adjusted weighted average shares	29,486		28,438		29,585		28,289

Net income per common share, basic	$	0.07	$	0.05	$	0.08	$	0.22
Net income per common share, diluted	$	0.07	$	0.05	$	0.07	$	0.21

3. EARNINGS PER SHARE (CONTINUED)

For the three months ended March 31, 2020 and 2019, there were 713,980 and 633,752 potentially dilutive shares, respectively. For the six months ended March 31, 2020 and 2019, there were 592,780 and 683,752 potentially dilutive shares, respectively. These potentially dilutive shares were related to stock options to purchase common shares that were not included in the above computation of diluted earnings per common share since the options' exercise prices were greater than the average market price of our common shares.