Earnings Per Share

9 Months Ended

Jun. 30, 2015

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) for the quarters and nine months ended June 30, 2015 and 2014:



	Quarter Ended June 30,				Nine Months Ended June 30,
	2015		2014		2015		2014
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net Income	$	19,906	$	20,548	$	53,183	$	58,276
Denominator - share:
Basic weighted-average shares	31,118		34,210		31,465		34,458
Effect of dilutive securities	1,245		952		1,183		962
Diluted weighted-average shares	32,363		35,162		32,648		35,420
Earnings per share:
Basic	$	0.64	$	0.60	$	1.69	$	1.69
Diluted	$	0.62	$	0.58	$	1.63	$	1.65

We exclude the options to purchase shares of common stock in the computation of the diluted EPS where the options’ exercise price exceeds 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, 2015. There were approximately 14,000 options excluded for the quarter ended June 30, 2014. There were approximately 179,850 and 9,000 options excluded for the nine months ended June 30, 2015 and 2014, respectively.