Earnings Per Share

6 Months Ended

Mar. 31, 2021

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 March 31,				Six Months Ended March 31,
in thousands, except per share data	2021		2020		2021		2020
Numerator:
Income from continuing operations	$	24,643	$	10,615	$	36,679	$	13,419
Loss from discontinued operations, net of tax	(115)		(1)		(154)		(59)
Net income	$	24,528	$	10,614	$	36,525	$	13,360

Denominator:
Basic weighted-average shares	29,953		29,868		29,862		29,808
Dilutive effect of restricted stock awards	231		97		262		250
Dilutive effect of stock options	31		10		26		20
Diluted weighted-average shares (a)	30,215		29,975		30,150		30,078

Basic income (loss) per share:
Continuing operations	$	0.82	$	0.36	$	1.23	$	0.45
Discontinued operations	—		—		(0.01)		—
Total	$	0.82	$	0.36	$	1.22	$	0.45

Diluted income (loss) per share:
Continuing operations	$	0.81	$	0.35	$	1.22	$	0.45
Discontinued operations	—		—		(0.01)		—
Total	$	0.81	$	0.35	$	1.21	$	0.45

(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 March 31,		Six Months Ended March 31,
in thousands	2021	2020	2021	2020
Stock options	177	360	214	227
Time-based restricted stock	13	284	121	52