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Net Income Per Share
9 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Net Income Per Share

13.

NET INCOME PER SHARE:

The following is a reconciliation of the shares used in the denominator for calculating basic and diluted net income per share:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2017

 

 

2016

 

 

2017

 

Weighted average common shares outstanding used in

   calculating basic income per share

 

 

24,159,070

 

 

 

24,336,777

 

 

 

24,175,671

 

 

 

24,293,512

 

Effect of dilutive options and non-vested restricted stock

   awards

 

 

611,910

 

 

 

758,621

 

 

 

581,845

 

 

 

751,534

 

Weighted average common and common equivalent shares

   used in calculating diluted income per share

 

 

24,770,980

 

 

 

25,095,398

 

 

 

24,757,516

 

 

 

25,045,046

 

 

For the three months ended June 30, 2016 and June 30, 2017, there were 1,425,385 and 7,418 weighted average shares related to options outstanding, respectively, that were not included in the computation of diluted income per share because the options’ exercise prices were greater than the average market price of our common stock, and therefore, would have an anti-dilutive effect. For the nine months ended June 30, 2016 and June 30, 2017, there were 1,420,224 and 18,084 weighted average shares related to options outstanding, respectively, that were not included in the computation of diluted income per share because the options’ exercise prices were greater than the average market price of our common stock, and therefore, would have an anti-dilutive effect.