Earnings per Share

6 Months Ended

Mar. 31, 2018

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) for the quarters and six-month periods ended March 31, 2018 and 2017:



	Quarter Ended March 31,				Six Months Ended March 31,
	2018		2017		2018		2017
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	32,275	$	25,084	$	59,574	$	62,985
Denominator - share:
Basic weighted-average shares	29,985		31,017		30,032		31,003
Effect of dilutive securities	1,315		1,243		1,399		1,395
Diluted weighted-average shares	31,300		32,260		31,431		32,398
Earnings per share:
Basic	$	1.08	$	0.81	$	1.98	$	2.03
Diluted	$	1.03	$	0.78	$	1.90	$	1.94

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 19,000 and 34,000 options excluded for the quarters ended March 31, 2018 and 2017, respectively. There were approximately 11,000 and 17,000 options excluded for the six months ended March 31, 2018 and 2017, respectively.