Earnings Per Share

12 Months Ended

Sep. 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 (loss) per share for the periods presented:


	Fiscal Year Ended September 30,
in thousands (except per share data)	2022		2021		2020
Numerator:
Income from continuing operations	$	220,718	$	122,180	$	53,316
Loss from discontinued operations, net of tax	(14)		(159)		(1,090)
Net income	$	220,704	$	122,021	$	52,226

Denominator:
Basic weighted-average shares	30,432		29,954		29,704
Dilutive effect of restricted stock awards	357		461		229
Dilutive effect of stock options	7		22		15


Diluted weighted-average shares(a)	30,796		30,437		29,948

Basic income (loss) per share:
Continuing operations	$	7.25	$	4.08	$	1.80
Discontinued operations	—		(0.01)		(0.04)
Total	$	7.25	$	4.07	$	1.76

Diluted income (loss) per share:
Continuing operations	$	7.17	$	4.01	$	1.78
Discontinued operations	—		—		(0.04)
Total	$	7.17	$	4.01	$	1.74

(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.


	Fiscal Year Ended September 30,
in thousands	2022	2021	2020
Stock options	22	142	375
Time-based restricted stock	—	—	46