Earnings Per Share

9 Months Ended

Jun. 30, 2022

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 per share for the periods presented:


	Three Months Ended June 30,				Nine Months Ended June 30,
in thousands (except per share data)	2022		2021		2022		2021
Numerator:
Income from continuing operations	$	54,312	$	37,142	$	133,885	$	73,821
Income (loss) from discontinued operations, net of tax	12		(7)		(4)		(161)
Net income	$	54,324	$	37,135	$	133,881	$	73,660

Denominator:
Basic weighted-average shares	30,512		30,022		30,480		29,915
Dilutive effect of restricted stock awards	354		517		319		352
Dilutive effect of stock options	6		23		7		25
Diluted weighted-average shares (a)	30,872		30,562		30,806		30,292

Basic income (loss) per share:
Continuing operations	$	1.78	$	1.24	$	4.39	$	2.47
Discontinued operations	—		—		—		(0.01)
Total	$	1.78	$	1.24	$	4.39	$	2.46

Diluted income (loss) per share:
Continuing operations	$	1.76	$	1.22	$	4.35	$	2.44
Discontinued operations	—		—		—		(0.01)
Total	$	1.76	$	1.22	$	4.35	$	2.43

(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 June 30,		Nine Months Ended June 30,
in thousands	2022	2021	2022	2021
Stock options	13	12	25	227
Time-based restricted stock	187	—	—	1