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Earnings Per Share
 6 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
 
Basic earnings per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similarly to basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if potentially dilutive common shares had been issued. In the case of a net loss, diluted earnings per share is calculated in the same manner as basic EPS.
 
For the three and six months ended March 31, 2019, options for 1,248,000 and 1,220,000 weighted average shares, respectively, were excluded from the diluted EPS calculations because they were anti-dilutive. For the three and six months ended March 31, 2018, options for 422,000 and 296,000 weighted average shares, respectively, were excluded from the diluted EPS calculations because they were anti-dilutive. These shares could become dilutive in the future.

A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share amounts):

 
Three Months Ended March 31,
 
Six Months Ended March 31,
 
2019
 
2018
 
2019
 
2018
Numerator:
 
 
 
 
 
 
 
Net income from continuing operations
$
1,012

 
$
1,061

 
$
1,260

 
$
2,762

Net (loss) income from discontinued operations
$
(6,647
)
 
$
1,774

 
$
(9,267
)
 
$
6,525

Net (loss) income
$
(5,635
)
 
$
2,835

 
$
(8,007
)
 
$
9,287

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted-average shares used to compute basic EPS
14,228

 
14,891

 
14,224

 
14,835

Common stock equivalents (1)
30

 
263

 
31

 
388

Weighted-average shares used to compute diluted EPS
14,258

 
15,154

 
14,255

 
15,223

 
 
 
 
 
 
 
 
Basic income per share from continuing operations
$
0.07

 
$
0.07

 
$
0.09

 
$
0.19

Basic (loss) income per share from discontinued operations
$
(0.47
)
 
$
0.12

 
$
(0.65
)
 
$
0.44

Net (loss) income per basic share
$
(0.40
)
 
$
0.19

 
$
(0.56
)
 
$
0.63

 
 
 
 
 
 
 
 
Diluted income per share from continuing operations
$
0.07

 
$
0.07

 
$
0.09

 
$
0.18

Diluted (loss) income per share from discontinued operations
$
(0.47
)
 
$
0.12

 
$
(0.65
)
 
$
0.43

Net (loss) income per diluted share
$
(0.40
)
 
$
0.19

 
$
(0.56
)
 
$
0.61


(1) The number of common stock equivalents is calculated using the treasury method and the average market price during the period.