Net Income Per Share

6 Months Ended

Mar. 31, 2023

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,
	2022		2023		2022		2023
Weighted average common shares outstanding used in calculating basic net income per share		21,861,438		21,853,557		21,880,558		21,804,326
Effect of dilutive options and non-vested restricted stock awards		668,664		460,705		716,547		463,857
Weighted average common and common equivalent shares used in calculating diluted net income per share		22,530,102		22,314,262		22,597,105		22,268,183

For the three months ended March 31, 2022 and 2023, there were no weighted average shares of options and non-vested restricted stock outstanding and 14,204 weighted average shares of options and non-vested restricted stock outstanding, respectively, that were not included in the computation of diluted net income per share because the options’ exercise prices or non-vested restricted stock prices were greater than the average market price of our common stock, and therefore, their effect would be anti-dilutive. For the six months ended March 31, 2022 and 2023, there were 63,924 and 102,568 weighted average shares of options and non-vested restricted stock outstanding, respectively, that were not included in the computation of diluted net income per share because the options’ exercise prices or non-vested restricted stock prices were greater than the average market price of our common stock, and therefore, their effect would be anti-dilutive.