| 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. |