Earnings Per Share

3 Months Ended

Dec. 31, 2020

Basic income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted income (loss) per share adjusts the basic income (loss) per share for the effects of any potentially dilutive securities in periods in which the Company has net income and such effects are dilutive under the treasury stock method.

Following is a summary of the components of basic and diluted income (loss) per share for the periods presented:


	Three Months Ended December 31,
in thousands, except per share data	2020		2019
Numerator:
Income from continuing operations	$	12,036	$	2,804
Loss from discontinued operations, net of tax	(39)		(58)
Net income	$	11,997	$	2,746

Denominator:
Basic weighted-average shares	29,771		29,746
Dilutive effect of restricted stock awards	294		353
Dilutive effect of stock options	21		39
Diluted weighted-average shares (a)	30,086		30,138

Basic income (loss) per share:
Continuing operations	$	0.40	$	0.09
Discontinued operations	—		—
Total	$	0.40	$	0.09

Diluted income (loss) per share:
Continuing operations	$	0.40	$	0.09
Discontinued operations	—		—
Total	$	0.40	$	0.09

(a) The following potentially dilutive shares were excluded from the calculation of diluted income (loss) per share as a result of their anti-dilutive effect.


	Three Months Ended December 31,
in thousands	2020	2019
Stock options	242,793	210,509