Earnings per Share

9 Months Ended

Jun. 30, 2017

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) for the quarters and nine-month periods ended June 30, 2017 and 2016:



	Quarter Ended June 30,				Nine Months Ended June 30,
	2017		2016		2017		2016
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	25,227	$	34,987	$	88,212	$	77,344
Denominator - share:
Basic weighted-average shares	30,914		31,149		30,973		31,201
Effect of dilutive securities	1,310		1,164		1,367		1,136
Diluted weighted-average shares	32,224		32,313		32,340		32,337
Earnings per share:
Basic	$	0.82	$	1.12	$	2.85	$	2.48
Diluted	$	0.78	$	1.08	$	2.73	$	2.39

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, 2017 and 2016. There were approximately 11,000 and 12,000 options excluded for the nine months ended June 30, 2017 and 2016, respectively.