Earnings Per Share

9 Months Ended

Jun. 30, 2021

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,
	2021		2020		2021		2020
Numerator:


Net income	$	3,157	$	1,766	$	5,778	$	3,978

Denominator:
Denominator for basic net income per common share — weighted average shares outstanding	34,057		28,972		31,443		28,772
Effect of dilutive securities:
Stock options and restricted stock units	1,091		215		1,263		705
Denominator for diluted net income per common share — adjusted weighted average shares	35,148		29,187		32,706		29,477




Net income per common share, basic	$	0.09	$	0.06	$	0.18	$	0.14



Net income per common share, diluted	$	0.09	$	0.06	$	0.18	$	0.13

For the three months ended June 30, 2021 and 2020, there were 41,540 and 2,241,860 potentially dilutive shares, respectively. For the nine months ended June 30, 2021 and 2020, there were 37,248 and 1,146,581 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.