Earnings per Share

9 Months Ended

Jun. 30, 2018

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, 2018 and 2017:



	Quarter Ended June 30,				Nine Months Ended June 30,
	2018		2017		2018		2017
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	32,361	$	25,227	$	91,935	$	88,212
Denominator - share:
Basic weighted-average shares	29,708		30,914		29,924		30,973
Effect of dilutive securities	1,453		1,310		1,417		1,367
Diluted weighted-average shares	31,161		32,224		31,341		32,340
Earnings per share:
Basic	$	1.09	$	0.82	$	3.07	$	2.85
Diluted	$	1.04	$	0.78	$	2.93	$	2.73

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 each of the quarters ended June 30, 2018 and 2017. There were approximately 7,000 and 11,000 options excluded for the nine months ended June 30, 2018 and 2017, respectively.