Net Income Per Share

9 Months Ended

Jun. 30, 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				Nine Months Ended
	June 30,				June 30,
	2023		2024		2023		2024
Weighted average common shares outstanding used in calculating basic net income per share		21,885,400		22,268,758		21,831,350		22,254,619
Effect of dilutive options and non-vested restricted stock awards		542,043		780,339		489,919		697,615
Weighted average common and common equivalent shares used in calculating diluted net income per share		22,427,443		23,049,097		22,321,269		22,952,234

For the three months ended June 30, 2023 and 2024, there were 11,089 and 10,000 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 nine months ended June 30, 2023 and 2024, there were 12,639 and 11,751 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.