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Net Income Per Common Share
 6 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Net Income Per Common Share
Net Income Per Common Share

The computation of basic and diluted net income per common share using the two-class method is as follows (in thousands, except per share amounts):
 
 
Three Months Ended
December 31,
 
Six Months Ended
December 31,
 
2013
 
2012
 
2013
 
2012
Basic net income per common share calculation
 
 
 
 
 
 
 
Net income
$
13,335

 
$
4,914

 
$
21,034

 
$
5,813

Less: Undistributed earnings allocated to participating securities
(1
)
 
(21
)
 
(28
)
 
(33
)
Net income attributable to common shares—basic
$
13,334

 
$
4,893

 
$
21,006

 
$
5,780

Weighted-average number of common shares used to compute basic net income per common share
42,915

 
41,893

 
42,706

 
41,780

Basic net income per common share
$
0.31

 
$
0.12

 
$
0.49

 
$
0.14

Diluted net income per common share calculation
 
 
 
 
 
 
 
Net income
$
13,335

 
$
4,914

 
$
21,034

 
$
5,813

Less: Undistributed earnings allocated to participating securities
(1
)
 
(21
)
 
(26
)
 
(31
)
Net income attributable to common shares—diluted
$
13,334

 
$
4,893

 
$
21,008

 
$
5,782

Weighted-average number of common shares used to compute basic net income per common share
42,915

 
41,893

 
42,706

 
41,780

Dilutive effect of options to purchase common stock
2,124

 
1,538

 
2,346

 
2,039

Weighted-average number of common shares used to compute diluted net income per common share
45,039

 
43,431

 
45,052

 
43,819

Diluted net income per common share
$
0.30

 
$
0.11

 
$
0.47

 
$
0.13



For the three and six months ended December 31, 2013 and 2012, the Company had stock options outstanding that could potentially dilute basic earnings per share in the future, but were excluded from the computation of diluted net income per share in the periods presented, as their effect would have been anti-dilutive. The shares of common stock issuable upon exercise of such anti-dilutive outstanding stock options were 6,288,000 and 5,461,000 for the three and six months ended December 31, 2013, respectively, and 7,293,000 and 5,842,000 for the three and six months ended December 31, 2012, respectively.