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Net Income Per Share

9 Months Ended

Jun. 30, 2019

13.	NET INCOME PER SHARE:

The following table presents shares used in the calculation of basic and diluted net income per share:

	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2018		2019		2018		2019
Weighted average common shares outstanding used in calculating basic income per share		22,399,079		22,243,895		22,185,736		22,619,802
Effect of dilutive options and non-vested restricted stock awards		783,467		577,307		758,845		593,181
Weighted average common and common equivalent shares used in calculating diluted income per share		23,182,546		22,821,202		22,944,581		23,212,983

For the three months ended June 30, 2018 and 2019, there were 110 and 10,068 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 nine months ended June 30, 2018 and 2019, there were 1,193 and 5,168 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.