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Earnings Per Share
 6 Months Ended
Mar. 31, 2014
Earnings Per Share

10. Earnings Per Share

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) for the quarters and six months ended March 31, 2014 and 2013:

 

     Quarter Ended March 31,      Six Months Ended March 31,  
     2014      2013      2014      2013  
     (In thousands, except per share data)  

Numerator for diluted and basic earnings per share:

            

Net Income

    $ 20,751       $ 18,495       $ 37,728       $ 41,916   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator – share:

            

Basic weighted-average shares

      34,500         35,664         34,705         35,350   

Effect of dilutive securities

      811         828         965         968   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted weighted-average shares

      35,311         36,492         35,670         36,318   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per share:

            

Basic

    $ 0.60       $ 0.52       $ 1.09       $ 1.19   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted

    $ 0.59       $ 0.51       $ 1.06       $ 1.15   
  

 

 

     

 

 

     

 

 

     

 

 

  

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 approximately 14,000 and 177,000 options excluded for the quarters ended March 31, 2014 and 2013, respectively. There were approximately 7,000 and 217,000 options excluded for the six months ended March 31, 2014 and 2013, respectively.