Net Income Per Share

3 Months Ended

Dec. 31, 2014

Net Income Per Share

Net Income Per Share

Note 3 — Net Income Per Share

Basic net income per share (EPS) is computed by dividing the net income for the period by the weighted average number of common shares outstanding during the period, including vested restricted stock units (RSUs).

Diluted EPS is computed by dividing the net income for the period by the weighted average number of common and common equivalent shares outstanding during the period. Common equivalent shares consist of dilutive restricted stock units. Dilutive restricted stock units are calculated based on the average share price for each fiscal period using the treasury stock method. For RSUs with performance-based vesting, no common equivalent shares are included in the computation of diluted EPS until the related performance criteria have been met.

Basic and diluted EPS are computed as follows (amounts in thousands, except per share data).

	Three Months Ended
	December 31,
	2014		2013
Net income attributable to Cubic	$	5,152	$	8,388
Weighted average shares - basic	26,860		26,784
Effect of dilutive securities	25		99
Weighted average shares - diluted	26,885		26,883
Net income per share attributable to Cubic, basic	$	0.19	$	0.31
Effect of dilutive securities	—		—
Net income per share attributable to Cubic, diluted	$	0.19	$	0.31
Anti-dilutive employee share-based awards	—		—