Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.1
Earnings Per Share
6 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
As discussed in Note 9 - Equity, the Company has two classes of common stock. The Company has not presented earnings per share under the two-class method, because the earnings per share are the same for both Class A common stock and Class B common stock. The following table summarizes the weighted-average number of basic common shares outstanding and the calculation of basic earnings per share for the periods presented (in thousands, except share and per share amounts):
For the Three Months Ended March 31, For the Six Months Ended March 31,
2020 2019 2020 2019
Numerator
Net income attributable to common shareholders $ 1,537    $ 4,212    $ 6,998    $ 9,366   
Denominator
Weighted average number of common shares outstanding, basic 51,489,211    51,414,619    51,489,211    51,414,619   
Net income per common share attributable to common shareholders, basic $ 0.03    $ 0.08    $ 0.14    $ 0.18   
The following table summarizes the calculation of the weighted-average number of diluted common shares outstanding and the calculation of diluted earnings per share for the periods presented (in thousands, except share and per share amounts):
For the Three Months Ended March 31, For the Six Months Ended March 31,
2020 2019 2020 2019
Numerator
Net income attributable to common stockholders $ 1,537    $ 4,212    $ 6,998    $ 9,366   
Denominator
Weighted average number of basic common shares outstanding, basic 51,489,211    51,414,619    51,489,211    51,414,619   
Effect of dilutive securities:
Restricted stock grants under 2018 Equity Incentive Plan 130,192    —    123,129    —   
Weighted average number of diluted common shares outstanding 51,619,403    51,414,619    51,612,340    51,414,619   
Net income per diluted common share attributable to common stockholders $ 0.03    $ 0.08    $ 0.14    $ 0.18