Net Income (Loss) Per Share (Tables)

6 Months Ended

Mar. 31, 2015

Net Income (Loss) Per Share

Schedule of basic and diluted net income (loss) per share

	Three Months Ended March 31,						Six Months Ended March 31,
(in thousands, except share and per share data)	2014			2015			2014			2015
Numerator: Basic and Diluted
Net income (loss)	$	(1,223	)	$	11,719		$	(4,715	)	$	18,100
Dividends paid	(2,725		)	(2,737		)	(5,445		)	(5,475		)
Undistributed income (loss)	$	(3,948	)	$	8,982		$	(10,160	)	$	12,625
Percentage allocated to common shares (a)	100.0		%	99.1		%	100.0		%	99.1		%
Undistributed income (loss) allocated to common shares	$	(3,948	)	$	8,901		$	(10,160	)	$	12,511
Dividends paid on common shares outstanding	2,725			2,712			5,445			5,426
Net income (loss) available to common shares	$	(1,223	)	$	11,613		$	(4,715	)	$	17,936
Denominator: Basic and Diluted
Weighted average common shares outstanding	12,287,907			12,333,550			12,267,463			12,329,716
Adjustment for dilutive potential common shares	—			11,886			—			12,395
Weighted average shares outstanding - Diluted	12,287,907			12,345,436			12,267,463			12,342,111
Per common share net income (loss)
Basic	$	(0.10	)	$	0.94		$	(0.38	)	$	1.45
Diluted	$	(0.10	)	$	0.94		$	(0.38	)	$	1.45
Number of stock option shares excluded as their effect would be anti-dilutive	221,270			290,255			229,996			290,255
Number of restrictive stock option shares as their effect would be anti-dilutive	97,600			112,450			97,600			112,450

(a)  Percentage allocated to common shares - weighted average

Common shares outstanding	12,287,907	12,333,550	12,267,463	12,329,716
Unvested participating shares	—	112,450	—	112,450
	12,287,907	12,446,000	12,267,463	12,442,166