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Net Income per Share
12 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Net Income per Share

4. Net Income per Share

Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive shares of common stock assuming the dilutive effect of outstanding stock options and restricted stock units using the treasury stock method.

The following table presents the calculation of basic and diluted net income per share:

 

 

 

Fiscal Year Ended June 30,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(In thousands, except per share data)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

23,555

 

 

$

18,102

 

 

$

62,480

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock used in computing basic net income per share

 

 

53,166

 

 

 

51,529

 

 

 

49,581

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock used in computing basic net income per share

 

 

53,166

 

 

 

51,529

 

 

 

49,581

 

Weighted average effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

778

 

 

 

1,054

 

 

 

1,724

 

Restricted stock units

 

 

1,185

 

 

 

804

 

 

 

1,449

 

Weighted average shares of common stock used in computing diluted net income per share

 

 

55,129

 

 

 

53,387

 

 

 

52,754

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.44

 

 

$

0.35

 

 

$

1.26

 

Diluted

 

$

0.43

 

 

$

0.34

 

 

$

1.18

 

Securities excluded from weighted-average shares used in computing diluted net income per share because the effect would have been anti-dilutive: (1)

 

 

84

 

 

 

1,104

 

 

 

118

 

 

(1)

These weighted shares relate to anti-dilutive stock options and restricted stock units as calculated using the treasury stock method and could be dilutive in the future.