Net Income Per Share

3 Months Ended

Dec. 31, 2017

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
	December 31,
	2016		2017
Weighted average common shares outstanding used in calculating basic income per share		24,249,739		21,986,981
Effect of dilutive options and non-vested restricted stock awards		673,386		725,667
Weighted average common and common equivalent shares used in calculating diluted income per share		24,923,125		22,712,648

For the three months ended December 31, 2016 and 2017, there were 52,435 and 116,844 weighted average shares related to options outstanding and non-vested restricted stock awards, respectively, that were not included in the computation of diluted income per share because the options’ exercise prices or assumed proceeds per share were greater than the average market price of our common stock, and therefore, would have an anti-dilutive effect.