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Net Income Per Share

6 Months Ended

Mar. 31, 2020

15.	NET INCOME PER SHARE:

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

	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2019		2020		2019		2020
Weighted average common shares outstanding used in calculating basic income per share		22,836,571		21,520,215		22,807,756		21,486,995
Effect of dilutive options and non-vested restricted stock awards		581,117		440,070		601,117		438,110
Weighted average common and common equivalent shares used in calculating diluted income per share		23,417,688		21,960,285		23,408,873		21,925,105

For the three months ended March 31, 2019 and 2020, there were 5,082 and 21,333 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, 2019 and 2020, there were no weighted average shares and 21,333 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.