Earnings Per Share

9 Months Ended

Jun. 30, 2013

Earnings Per Share

11. 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,
	2013		2012		2013		2012
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	19,622	$	20,749	$	61,538	$	70,758
Denominator—share:
Basic weighted-average shares		35,499		34,004		35,400		35,126
Effect of dilutive securities		886		1,289		940		1,121
Diluted weighted-average shares		36,385		35,293		36,340		36,247
Earnings per share:
Basic	$	0.55	$	0.61	$	1.74	$	2.01
Diluted	$	0.54	$	0.59	$	1.69	$	1.95

We exclude the options to purchase shares of common stock in the computation of the diluted EPS where the options’ exercise prices exceed the average market price of our common stock as their inclusion would be antidilutive. There were no options excluded for the quarter ended June 30, 2013. There were approximately 890,000 options excluded for the quarter ended June 30, 2012. There were approximately 145,000 and 1,669,000 options excluded for the nine months ended June 30, 2013 and 2012, respectively.