NET INCOME PER SHARE

6 Months Ended

Sep. 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				Six Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Numerator:
Net income	$	11,233	$	9,883	$	22,709	$	15,136
Denominator:
Denominator for basic net income per share - weighted average common shares outstanding	41,060		41,392		41,071		41,398
Dilutive common equivalent shares:
Weighted average stock options	11		76		14		81
Weighted average restricted stock units	581		482		647		525
Denominator for diluted net income per share - weighted average shares outstanding	41,652		41,950		41,732		42,004
Net income per share:
Basic net income per share	$	0.27	$	0.24	$	0.55	$	0.37
Diluted net income per share	$	0.27	$	0.24	$	0.54	$	0.36

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		Six Months Ended
	September 30,		September 30,
	2014	2013	2014	2013
Restricted stock units	—	123	—	201

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.