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Earnings Per Share
 9 Months Ended
Jun. 30, 2011
Earnings Per Share

5. Earnings Per Share

The following reconciles the numerators and denominators of basic and diluted earnings per share (“EPS”):

 

     Quarter Ended June 30,      Nine Months Ended June 30,  
     2011      2010      2011      2010  
     (In thousands, except per
share data)		      (In thousands, except per
share data)		  

Numerator for diluted and basic earnings per share - net income:

    $ 23,189       $ 17,938       $ 46,943       $ 48,616   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator - shares:

            

Basic weighted-average shares

      39,451         44,446         39,788         46,171   

Effect of dilutive securities

      790         439         638         390   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted weighted-average shares

      40,241         44,885         40,426         46,561   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per share from continuing operations:

            

Basic

    $ 0.59       $ 0.40       $ 1.18       $ 1.05   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted

    $ 0.58       $ 0.40       $ 1.16       $ 1.04   
  

 

 

     

 

 

     

 

 

     

 

 

  

The computation of diluted EPS for the quarters ended June 30, 2011 and 2010 excludes options to purchase approximately 2,832,000 and 4,371,000 shares of common stock, respectively, and for the nine months ended June 30, 2011 and 2010 excludes options to purchase approximately 3,747,000 and 5,001,000 shares of common stock, respectively, because the options’ exercise prices exceeded the average market price of our common stock in these periods and their inclusion would be antidilutive.