Earnings per Share

9 Months Ended

Jun. 30, 2019

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, 2019 and 2018:



	Quarter Ended June 30,				Nine Months Ended June 30,
	2019		2018		2019		2018
			As Adjusted				As Adjusted
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	64,152	$	29,721	$	137,540	$	93,769
Denominator - share:
Basic weighted-average shares	28,967		29,708		29,000		29,924
Effect of dilutive securities	1,325		1,453		1,295		1,417
Diluted weighted-average shares	30,292		31,161		30,295		31,341
Earnings per share:
Basic	$	2.21	$	1.00	$	4.74	$	3.13
Diluted	$	2.12	$	0.95	$	4.54	$	2.99

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, 2019 and 2018. There were approximately 5,000 and 7,000 options excluded for the nine months ended June 30, 2019 and 2018, respectively.