Net Income Per Share

9 Months Ended

Jun. 30, 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				Nine Months Ended
	June 30,				June 30,
	2022		2023		2022		2023
Weighted average common shares outstanding used in calculating basic net income per share		21,524,315		21,885,400		21,761,811		21,831,350
Effect of dilutive options and non-vested restricted stock awards		648,958		542,043		694,017		489,919
Weighted average common and common equivalent shares used in calculating diluted net income per share		22,173,273		22,427,443		22,455,828		22,321,269

For the three months ended June 30, 2022 and 2023, there were 89,518 and 11,089 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 nine months ended June 30, 2022 and 2023, there were 71,455 and 12,639 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.