Net Income Per Share

12 Months Ended

Mar. 31, 2012

Net Income Per Share [Abstract]

Net Income Per Share

NOTE 12 – NET INCOME PER SHARE

Calculations of the basic and diluted net income per share and potential common shares are as follows (in thousands, except for per share data):

	Year Ended March 31,
	2012		2011		2010
Basic:
Net income	$	32,428	$	37,265	$	27,917
Weighted average common shares outstanding		42,035		42,059		40,691
Basic net income per share	$	0.77	$	0.89	$	0.69
Diluted:
Net income	$	32,428	$	37,265	$	27,917
Weighted average common shares outstanding		42,035		42,059		40,691
Weighted average stock options		154		320		711
Weighted average restricted stock units		561		594		513
Diluted weighted average shares		42,750		42,973		41,915
Diluted net income per share	$	0.76	$	0.87	$	0.67

The following table sets forth options and restricted stock units excluded from the calculation of diluted net income per share, since their inclusion would be antidilutive (in thousands):

	Year Ended March 31,
	2012		2011		2010
Stock options		0		14		200
Restricted stock units		82		6		6

Basic EPS is calculated by dividing net income by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not considered outstanding for purposes of calculating basic earnings per share. Diluted EPS is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding stock options, restricted shares and restricted stock units using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of proceeds from the assumed exercise of stock options, unrecognized compensation expense and any tax benefits as additional proceeds.