NET INCOME PER SHARE

3 Months Ended

Jun. 30, 2012

NET INCOME PER SHARE

NOTE 14 – 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):

	Three Months Ended June 30,
	2012		2011
Basic:
Net income	$	5,008	$	2,399
Weighted average common shares outstanding		41,742		42,608
Basic net income per share	$	0.12	$	0.06
Diluted:
Net income	$	5,008	$	2,399
Weighted average common shares outstanding		41,742		42,608
Weighted average stock options		135		547
Weighted average restricted stock units		576		188
Diluted weighted average shares		42,453		43,343
Diluted net income per share	$	0.12	$	0.06

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

	Three Months Ended June  30,
	2012		2011
Restricted stock units		71		80

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.