Earnings per Share

9 Months Ended

Jun. 30, 2016

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) for the quarters and nine months ended June 30, 2016 and 2015:



	Quarter Ended June 30,				Nine Months Ended June 30,
	2016		2015		2016		2015
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	34,987	$	19,906	$	77,344	$	53,183
Denominator - share:
Basic weighted-average shares	31,149		31,118		31,201		31,465
Effect of dilutive securities	1,164		1,245		1,136		1,183
Diluted weighted-average shares	32,313		32,363		32,337		32,648
Earnings per share:
Basic	$	1.12	$	0.64	$	2.48	$	1.69
Diluted	$	1.08	$	0.62	$	2.39	$	1.63

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 no options excluded for the quarters ended June 30, 2016 and 2015. There were approximately 12,003 and 179,850 options excluded for the nine months ended June 30, 2016 and 2015, respectively.