Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.23.2
Earnings Per Share
9 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Share

5. Earnings Per Share

 

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similarly to basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if potentially dilutive common shares had been issued. Dilutive potential common shares include outstanding restricted stock units (“RSUs”) and stock options. In the case of a net loss, diluted earnings per share is calculated in the same manner as basic EPS.

 

For the three and nine months ended June 30, 2023, options for 332,000 and 306,000 weighted average shares, respectively, were excluded from the diluted EPS calculations because they were anti-dilutive. For the three and nine months ended June 30, 2022, options for 204,000 and 176,000 weighted average shares, respectively, were excluded from the diluted EPS calculations because they were anti-dilutive. These shares could become dilutive in the future.

 

A reconciliation of the components of the basic and diluted EPS calculations follows, in thousands, except per share amounts:

 

 

 

Three Months Ended June 30,

 

 

Nine Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(1,027

)

 

$

10,222

 

 

$

(567

)

 

$

13,184

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute basic EPS

 

 

14,058

 

 

 

13,889

 

 

 

14,031

 

 

 

14,042

 

Dilutive potential common shares due to stock
    options (1)

 

 

 

 

 

137

 

 

 

 

 

 

178

 

Dilutive potential common shares due to RSUs (1)

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute diluted EPS

 

 

14,058

 

 

 

14,026

 

 

 

14,031

 

 

 

14,220

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) Income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per basic share

 

$

(0.07

)

 

$

0.74

 

 

$

(0.04

)

 

$

0.94

 

Net (loss) income per diluted share

 

$

(0.07

)

 

$

0.73

 

 

$

(0.04

)

 

$

0.93

 

 

(1)
The number of common stock equivalents is calculated using the treasury method and the average market price during the period.