Earnings Per Share

12 Months Ended

Sep. 30, 2018

Basic earnings per share is calculated by dividing income available to common shareholders by the weighted average number of common shares outstanding and restricted stock grants that vested or are likely to vest during the period. Diluted earnings per share is calculated by dividing income available to common shareholders by the weighted average number of basic common shares outstanding, adjusted to reflect potentially dilutive securities. Diluted earnings per share is calculated using the treasury stock method.



	(in thousands)
	Year Ended
	September 30,
	2018		2017
Numerator:
Net income	$	1,836	$	3,288
Denominator:
Denominator for basic net income per share - weighted-average outstanding shares	11,881		11,345
Effect of dilutive securities:
Stock options and restricted stock	992		1,007
Denominator for diluted net income per share - weighted-average outstanding shares	12,873		12,352

Net income per share - basic	$	0.15	$	0.29
Net income per share - diluted	$	0.14	$	0.27