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Net Income Per Share
6 Months Ended
Mar. 31, 2018
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

 

 

Six Months Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2017

 

 

2018

 

 

2017

 

 

2018

 

Weighted average common shares outstanding used in

   calculating basic income per share

 

 

24,293,764

 

 

 

22,173,194

 

 

 

24,271,880

 

 

 

22,079,065

 

Effect of dilutive options and non-vested restricted stock

   awards

 

 

822,595

 

 

 

767,400

 

 

 

747,990

 

 

 

746,533

 

Weighted average common and common equivalent shares

   used in calculating diluted income per share

 

 

25,116,359

 

 

 

22,940,594

 

 

 

25,019,870

 

 

 

22,825,598

 

 

For the three months ended March 31, 2017 and 2018, there were 7,417 and 0 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. For the six months ended March 31, 2017 and 2018, there were 15,918 and 0 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.