Earnings Per Share

6 Months Ended

Mar. 31, 2016

Earnings per Share

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) for the quarters and six months ended March 31, 2016 and 2015:



	Quarter Ended March 31,				Six Months Ended March 31,
	2016		2015		2016		2015
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	23,116	$	18,870	$	42,357	$	33,277
Denominator - share:
Basic weighted-average shares	31,268		31,335		31,226		31,639
Effect of dilutive securities	994		1,113		1,123		1,152
Diluted weighted-average shares	32,262		32,448		32,349		32,791
Earnings per share:
Basic	$	0.74	$	0.60	$	1.36	$	1.05
Diluted	$	0.72	$	0.58	$	1.31	$	1.01

We exclude the options to purchase shares of common stock in the computation of the diluted EPS where the exercise price of the options exceeds the average market price of our common stock as their inclusion would be antidilutive. There were approximately 21,000 and 46,000 options excluded for the quarters ended March 31, 2016 and 2015, respectively. There were approximately 18,000 and 270,000 options excluded for the six months ended March 31, 2016 and 2015, respectively.