Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of common and potential common shares outstanding.


	Quarter ended
	September 30,
	2026		2025
	(in thousands, except per share data)
Numerator:


Net income	$	8,691	$	19,878
Denominator:
Weighted-average shares, basic	20,215		22,018
Dilutive effect of share-based payments	470		387
Weighted-average shares, diluted	20,685		22,405



Net income per common share, basic	$	0.43	$	0.90



Net income per common share, diluted	$	0.42	$	0.89

For the quarters ended September 30, 2026 and September 30, 2025, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 91,346 and 295,562, respectively.