Earnings per Share

9 Months Ended

Jun. 30, 2020

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, 2020 and 2019:



	Quarter Ended June 30,				Nine Months Ended June 30,
	2020		2019		2020		2019
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net income	$	64,076	$	64,152	$	177,285	$	137,540
Denominator - share:
Basic weighted-average shares	29,005		28,967		29,075		29,000
Effect of dilutive securities	739		1,325		891		1,295
Diluted weighted-average shares	29,744		30,292		29,966		30,295
Earnings per share:
Basic	$	2.21	$	2.21	$	6.10	$	4.74
Diluted	$	2.15	$	2.12	$	5.92	$	4.54

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 options excluded for the quarter ended June 30, 2020. There were no options excluded for the quarter ended June 30, 2019. There were approximately 14,000 and 5,000 options excluded for the nine months ended June 30, 2020 and 2019, respectively.