Earnings per Share

3 Months Ended

Dec. 31, 2017

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) for the quarters ended December 31, 2017 and 2016:



	Quarter Ended December 31,
	2017		2016
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	27,299	$	37,901
Denominator - share:
Basic weighted-average shares	30,078		30,989
Effect of dilutive securities	1,483		1,547
Diluted weighted-average shares	31,561		32,536
Earnings per share:
Basic	$	0.91	$	1.22
Diluted	$	0.86	$	1.16

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 3,000 options excluded for the quarter ended December 31, 2017. There were no options excluded for the quarter ended December 31, 2016.