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Earnings Per Share
 6 Months Ended
Mar. 31, 2017
Earnings Per Share  
Earnings Per Share

10.Earnings Per Share

 

The following table sets forth the computations of basic and diluted EPS for the periods indicated, reflecting the amounts attributable to Headwaters and excluding the amounts attributable to the non-controlling interest in Entegra. In accordance with ASC 260, income from continuing operations for each period is used as the control number in determining whether potentially dilutive common shares should be included in the diluted earnings per share computations for those periods, even when the effect of doing so is anti-dilutive to the other per-share amounts.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

March 31,

 

March 31,

 

(in thousands, except per-share amounts)

    

2016

    

2017

    

2016

    

2017

    

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

2,612

 

$

5,126

 

$

15,549

 

$

11,801

 

Income from continuing operations attributable to non-controlling interest

 

 

(283)

 

 

(591)

 

 

(579)

 

 

(752)

 

Numerator for basic and diluted earnings per share from continuing operations — income from continuing operations attributable to Headwaters Incorporated

 

 

2,329

 

 

4,535

 

 

14,970

 

 

11,049

 

Numerator for basic and diluted earnings per share from discontinued operations — income (loss) from discontinued operations, net of income taxes

 

 

(228)

 

 

 6

 

 

(444)

 

 

159

 

Numerator for basic and diluted earnings per share — net income attributable to Headwaters Incorporated

 

$

2,101

 

$

4,541

 

$

14,526

 

$

11,208

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share — weighted-average shares outstanding

 

 

73,818

 

 

74,835

 

 

73,804

 

 

74,536

 

Effect of dilutive securities — shares issuable upon exercise of options and SARs and vesting of restricted stock

 

 
1,523

 

 

1,147

 

 
1,549

 

 

1,291

 

Denominator for diluted earnings per share — weighted-average shares outstanding after assumed exercises and vesting

 

 

75,341

 

 

75,982

 

 

75,353

 

 

75,827

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share attributable to Headwaters Incorporated:

 

 

 

 

 

 

 

 

 

 

 

 

 

From continuing operations

 

$

0.03

 

$

0.06

 

$

0.21

 

$

0.15

 

From discontinued operations

 

 
0.00

 

 
0.00

 

 
(0.01)

 

 
0.00

 

 

 

$

0.03

 

$

0.06

 

$

0.20

 

$

0.15

 

Diluted income (loss) per share attributable to Headwaters Incorporated:

 

 

 

 

 

 

 

 

 

 

 

 

 

From continuing operations

 

$

0.03

 

$

0.06

 

$

0.20

 

$

0.15

 

From discontinued operations

 

 
0.00

 

 
0.00

 

 
(0.01)

 

 
0.00

 

 

 

$

0.03

 

$

0.06

 

$

0.19

 

$

0.15

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities not considered in diluted EPS calculation:

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock-settled SARs

 

 

256

 

 

 —

 

 

292

 

 

36

 

Stock options

 

 

 —

 

 

 —

 

 

36

 

 

 —