Net Income Per Share

3 Months Ended

Sep. 30, 2023

(11) Net Income Per Share

Basic net income per common share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted-average number of common shares outstanding during the period and, if dilutive, potential common shares outstanding during the period. The Company’s potential common shares consist of the incremental common shares issuable upon the exercise of stock options, the release of restricted stock units and market share units as of the balance sheet date. The following table presents the calculation of basic and diluted net income per share:


	Three Months Ended September 30,
	2022		2023
Numerator:
Net income	$	30,352	$	34,517

Denominator:
Weighted-average shares used in computing net income per share:
Basic	55,453		56,037
Weighted-average effect of potentially dilutive shares:
Employee stock options, restricted stock units and market share units	1,211		844
Diluted	56,664		56,881

Net income per share:
Basic	$	0.55	$	0.62
Diluted	$	0.54	$	0.61

The following table summarizes the outstanding restricted stock units and market share units as of September 30, 2022 and 2023 that were excluded from the diluted per share calculation for the periods presented because to include them would have been antidilutive:


	Three Months Ended September 30,
	2022	2023
Market share units	—	10
Restricted stock units	647	72
Total	647	82