NET INCOME PER SHARE

9 Months Ended

Dec. 31, 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				Nine Months Ended
	December 31,				December 31,
	2014		2013		2014		2013
Numerator:
Net income	$	17,629	$	17,294	$	40,338	$	32,430
Denominator:
Denominator for basic net income per share - weighted average common shares outstanding	41,206		41,425		41,128		41,417
Dilutive common equivalent shares:
Weighted average stock options	7		43		11		63
Weighted average restricted stock units	323		416		540		489
Denominator for diluted net income per share - weighted average shares outstanding	41,536		41,884		41,679		41,969
Net income per share:
Basic net income per share	$	0.43	$	0.42	$	0.98	$	0.78
Diluted net income per share	$	0.42	$	0.41	$	0.97	$	0.77

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,
	2014	2013	2014	2013
Restricted stock units	19	—	12	195

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.