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Net Income Per Share

9 Months Ended

Jun. 30, 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				Nine Months Ended
	June 30,				June 30,
	2019		2020		2019		2020
Weighted average common shares outstanding used in calculating basic income per share		22,243,895		21,499,408		22,619,802		21,491,117
Effect of dilutive options and non-vested restricted stock awards		577,307		546,492		593,181		474,238
Weighted average common and common equivalent shares used in calculating diluted income per share		22,821,202		22,045,900		23,212,983		21,965,355

For the three months ended June 30, 2019 and 2020, there were 10,068 and 15,000 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, 2019 and 2020, there were 5,168 and 29,601 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.