Income (Loss) Per Share Data

6 Months Ended

Mar. 31, 2013

Income (Loss) Per Share Data

11. Income (Loss) Per Share Data

Basic income per common share is calculated based on the weighted average number of common shares outstanding during the period. Diluted income per common share is computed by dividing income by the weighted average number of common and common equivalent shares outstanding during the period. The Company’s only potentially dilutive common shares are those that result from dilutive common stock options, non-vested stock relating to restricted stock awards, restricted stock units and performance shares.

The following table sets forth the components of the basic and diluted income per share computations (in thousands):

	Three months ended				Six months ended
	March 31,				March 31,
	2013		2012		2013		2012
Net income from continuing operations available to common shareholders	$	3,420	$	1,946	$	7,668	$	4,101
Basic weighted average shares outstanding		14,622		17,519		14,639		17,498
Dilutive effect of outstanding stock options, non-vested restricted stock, restricted stock units and performance shares		292		113		232		77
Diluted weighted average shares outstanding		14,914		17,632		14,871		17,575

The calculation of weighted average diluted shares outstanding excludes outstanding stock options associated with the right to purchase 0.3 million and 0.7 million shares of common stock for the three months ended March 31, 2013 and 2012, respectively, and 0.5 million and 0.7 million for the six months ended March 31, 2013 and 2012, respectively, as their inclusion would have had an antidilutive effect on diluted income per share.