NET INCOME PER SHARE

3 Months Ended

Jun. 30, 2014

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
	June 30,
	2014		2013
Numerator:
Net income	$	11,476	$	5,253
Denominator:
Denominator for basic net income per share - weighted average common shares outstanding	41,081		41,405
Dilutive common equivalent shares:
Weighted average stock options	17		85
Weighted average restricted stock units	710		578
Denominator for diluted net income per share - weighted average shares outstanding	41,808		42,068
Net income per share:
Basic net income per share	$	0.28	$	0.13
Diluted net income per share	$	0.27	$	0.12

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,
	2014	2013
Restricted stock units	—	560

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.