Earnings per Share

6 Months Ended

Mar. 31, 2020

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, 2020 and 2019:



	Quarter Ended March 31,				Six Months Ended March 31,
	2020		2019		2020		2019
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	58,288	$	33,381	$	113,209	$	73,388
Denominator - share:
Basic weighted-average shares	29,194		29,074		29,109		29,017
Effect of dilutive securities	791		1,185		967		1,280
Diluted weighted-average shares	29,985		30,259		30,076		30,297
Earnings per share:
Basic	$	2.00	$	1.15	$	3.89	$	2.53
Diluted	$	1.94	$	1.10	$	3.76	$	2.42

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 13,000 and 15,000 options excluded for the quarter ended March 31, 2020 and 2019, respectively. There were approximately 14,000 and 7,000 options excluded for the six months ended March 31, 2020 and 2019, respectively.