NET INCOME PER SHARE

12 Months Ended

Mar. 31, 2015

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):

	Year Ended March 31,
	2015		2014		2013
Numerator:
Net income	$	61,192	$	49,106	$	40,609
Denominator:
Denominator for basic net income per share - weighted average common shares outstanding	41,105		41,366		41,665
Dilutive common equivalent shares:
Weighted average stock options	9		54		122
Weighted average restricted stock units	523		535		535
Denominator for diluted net income per share - weighted average shares outstanding	41,637		41,955		42,322
Net income per share:
Basic net income per share	$	1.49	$	1.19	$	0.97
Diluted net income per share	$	1.47	$	1.17	$	0.96

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,
	2015	2014	2013
Restricted stock units	14	—	41

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.