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,
	2017		2016		2017		2016
Numerator:
Net income	$	89,685	$	21,245	$	62,995	$	10,981
Denominator:
Denominator for basic net income per share - weighted average common shares outstanding	87,210		91,762		88,985		92,337
Dilutive common equivalent shares:
Weighted average restricted stock units	650		640		897		660
Denominator for diluted net income per share - weighted average shares outstanding	87,860		92,402		89,882		92,997
Net income per share:
Basic net income per share	$	1.03	$	0.23	$	0.71	$	0.12
Diluted net income per share	$	1.02	$	0.23	$	0.70	$	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 anti-dilutive (in thousands):



	Three Months Ended		Nine Months Ended
	December 31,		December 31,
	2017	2016	2017	2016
Restricted stock units	1,873	1,207	1,405	1,718

Basic net income per share 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 net income per share 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 and unrecognized compensation expense as additional proceeds.