Earnings Per Share

6 Months Ended

Sep. 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 September 30,				Six Months Ended September 30,
	2023		2022		2023		2022
Earnings per share — Basic:
Net income	$	5,055	$	13,623	$	11,211	$	14,771
Weighted-average shares outstanding — Basic		67,074		67,806		66,749		67,698
Net income per common share — Basic	$	0.08	$	0.20	$	0.17	$	0.22

Earnings per share — Diluted:
Net income	$	5,055	$	13,623	$	11,211	$	14,771
Weighted-average shares outstanding		67,074		67,806		66,749		67,698
Effect of potentially dilutive securities from equity incentive plans		616		616		531		655
Weighted-average shares outstanding — Diluted		67,690		68,422		67,280		68,353
Net income per common share — Diluted	$	0.07	$	0.20	$	0.17	$	0.22

The computation of diluted net income per share does not include 26 options to acquire shares of common stock for the three months ended September 30, 2022 because their inclusion would have an anti-dilutive effect on net income per share. There were no anti-dilutive options for the three months ended September 30, 2023.

The computation of diluted net income per share does not include 23 options to acquire shares of common stock for the six months ended September 30, 2022 because their inclusion would have an anti-dilutive effect on net income per share. There were no anti-dilutive options for the six months ended September 30, 2023.

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 September 30, 2023.