Earnings Per Share

3 Months Ended

Jun. 30, 2023

14. Earnings per Share

The presentation of “basic” and “diluted” earnings per share is provided below. Share amounts below are in thousands.


	Three Months Ended June 30,
	2023		2022
Earnings per share — Basic:
Net income	$	6,156	$	1,148
Weighted-average shares outstanding — Basic		66,420		67,588
Net income per common share — Basic	$	0.09	$	0.02

Earnings per share — Diluted:
Net income	$	6,156	$	1,148
Weighted-average shares outstanding		66,420		67,588
Effect of potentially dilutive securities from equity incentive plans		433		695
Weighted-average shares outstanding — Diluted		66,853		68,283
Net income per common share — Diluted	$	0.09	$	0.02

The computation of diluted net income per share does not include 95 and 26 options to acquire shares of common stock for the three months ended June 30, 2023 and June 30, 2022, respectively, because their inclusion would have an anti-dilutive effect on net income per share.

The dilutive effect of potentially dilutive common shares is reflected in diluted net income per share by application of the if-converted method for the Notes. The shares issuable upon conversion of the Notes, subject to adjustment in some events, are not considered in the calculation of diluted net income per share because their inclusion would have an anti-dilutive effect on net income per share for the three months ended June 30, 2023.