Net Income Per Share

6 Months Ended

Mar. 31, 2024

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,
	2023		2024		2023		2024
Weighted average common shares outstanding used in calculating basic net income per share		21,853,557		22,299,599		21,804,326		22,247,587
Effect of dilutive options and non-vested restricted stock awards		460,705		699,630		463,857		656,253
Weighted average common and common equivalent shares used in calculating diluted net income per share		22,314,262		22,999,229		22,268,183		22,903,840

For the three months ended March 31, 2023 and 2024, there were 14,204 and 5,000 weighted average shares of options outstanding 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, 2023 and 2024, there were 102,568 and 5,000 weighted average shares of options outstanding 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.