Net Income Per Share

6 Months Ended

Mar. 31, 2025

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,
	2025		2024		2025		2024
Weighted average common shares outstanding used in calculating basic net income per share		22,616,518		22,299,599		22,616,069		22,247,587
Effect of dilutive options and non-vested restricted stock awards		707,829		699,630		738,787		656,253
Weighted average common and common equivalent shares used in calculating diluted net income per share		23,324,347		22,999,229		23,354,856		22,903,840

For the three months ended March 31, 2025 and 2024, there were 151,709 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, 2025 and 2024, there were 15,819 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.