NET INCOME PER SHARE

12 Months Ended

Mar. 31, 2013

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,
	2013		2012		2011
Basic:
Net income	$	40,609	$	32,428	$	37,265
Weighted average common shares outstanding		41,665		42,035		42,059
Basic net income per share	$	0.97	$	0.77	$	0.89
Diluted:
Net income	$	40,609	$	32,428	$	37,265
Weighted average common shares outstanding		41,665		42,035		42,059
Weighted average stock options		122		154		320
Weighted average restricted stock units		535		561		594
Diluted weighted average shares		42,322		42,750		42,973
Diluted net income per share	$	0.96	$	0.76	$	0.87

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,
	2013		2012		2011
Stock options		0		0		14
Restricted stock units		41		82		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.