Earnings Per Share

9 Months Ended

Jun. 30, 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 June 30,						Nine months ended June 30,
	2020		2019		2020		2019
Numerator:


Net income	$	1,766	$	1,648	$	3,978	$	7,672

Denominator:
Denominator for basic net income per common share — weighted average shares outstanding	28,972		28,072		28,772		27,816
Effect of dilutive securities:
Stock options and restricted stock units	215		517		705		598
Denominator for diluted net income per common share — adjusted weighted average shares	29,187		28,589		29,477		28,414




Net income per common share, basic	$	0.06	$	0.06	$	0.14	$	0.28



Net income per common share, diluted	$	0.06	$	0.06	$	0.13	$	0.27

3. EARNINGS PER SHARE (CONTINUED)For the three months ended June 30, 2020 and 2019, there were 2,241,860 and 617,841 potentially dilutive shares, respectively. For the nine months ended June 30, 2020 and 2019, there were 1,146,581 and 667,841 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.