Net Income (Loss) Per Share Data

9 Months Ended

Jun. 30, 2023

9. Net Income (Loss) Per Share Data

Basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common and common equivalent shares outstanding during the period. The Company’s potentially dilutive common shares are those that result from dilutive common stock options and non-vested stock relating to restricted stock awards and restricted stock units. The calculation of diluted income (loss) per share excluded 0.1 million and less than 0.1 million in weighted-average shares for the three months ended June 30, 2023 and 2022, respectively, and 0.1 million in weighted-average shares for each of the nine months ended June 30, 2023 and 2022, as their effect was anti-dilutive.

The following table presents the denominator for the computation of diluted weighted average shares outstanding:


	Three Months Ended June 30,				Nine Months Ended June 30,
(In thousands)	2023		2022		2023		2022
Basic weighted average shares outstanding		14,050		13,929		14,020		13,907
Dilutive effect of outstanding stock options, non-vested restricted stock, and non-vested restricted stock units		22		—		—		—
Diluted weighted average shares outstanding		14,072		13,929		14,020		13,907