NET INCOME PER SHARE

9 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

NET INCOME PER SHARE

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				Nine Months Ended
	December 31,				December 31,
	2013		2012		2013		2012
Numerator:
Net income	$	17,294	$	11,138	$	32,430	$	26,056
Denominator:
Denominator for basic net income per share - weighted average shares outstanding	41,425		41,709		41,417		41,715
Dilutive common equivalent shares:
Weighted average stock options	43		111		63		127
Weighted average restricted stock units	416		478		489		522
Denominator for diluted net income per share - weighted average shares outstanding	41,884		42,298		41,969		42,364
Net income per share:
Basic net income per share	$	0.42	$	0.27	$	0.78	$	0.62
Diluted net income per share	$	0.41	$	0.26	$	0.77	$	0.62

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		Nine Months Ended
	December 31,		December 31,
	2013	2012	2013	2012
Restricted stock units	—	43	195	283

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.