Earnings Per Share

12 Months Ended

Sep. 30, 2023

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)	2023		2022		2021
Numerator:
Income from continuing operations	$	158,688	$	220,718	$	122,180
Loss from discontinued operations, net of tax	(77)		(14)		(159)
Net income	$	158,611	$	220,704	$	122,021

Denominator:
Basic weighted-average shares	30,353		30,432		29,954
Dilutive effect of restricted stock awards	388		357		461
Dilutive effect of stock options	6		7		22


Diluted weighted-average shares(a)	30,747		30,796		30,437

Basic income (loss) per share:
Continuing operations	$	5.23	$	7.25	$	4.08
Discontinued operations	—		—		(0.01)
Total	$	5.23	$	7.25	$	4.07

Diluted income per share:
Continuing operations	$	5.16	$	7.17	$	4.01
Discontinued operations	—		—		—
Total	$	5.16	$	7.17	$	4.01

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


	Fiscal Year Ended September 30,
in thousands	2023	2022	2021
Stock options	11	22	142