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Earnings Per Share
 3 Months Ended
Dec. 31, 2013
Earnings Per Share

11. Earnings Per Share

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”):

 

     Quarter Ended December 31,  
     2013      2012  
     (In thousands, except per share data)  

Numerator for diluted and basic earnings per share:

      

Net Income

    $ 16,977       $ 23,421   
  

 

 

     

 

 

  

Denominator—share:

      

Basic weighted-average shares

      34,699         35,043   

Effect of dilutive securities

      1,121         1,108   
  

 

 

     

 

 

  

Diluted weighted-average shares

      35,820         36,151   
  

 

 

     

 

 

  

Earnings per share:

      

Basic

    $ 0.49       $ 0.67   
  

 

 

     

 

 

  

Diluted

    $ 0.47       $ 0.65   
  

 

 

     

 

 

  

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 December 31, 2013. There were approximately 257,000 options excluded for the quarter ended December 31, 2012.