Earnings Per Share

9 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net earnings by the weighted average number of shares of the Company’s common stock outstanding during the period. Outstanding shares consist of issued shares less treasury stock. Diluted earnings per share is calculated by dividing net earnings by the weighted average common shares outstanding adjusted for the dilutive effect of common stock equivalents related to stock options and the Company’s ESPP.

Outstanding stock options that are anti-dilutive are excluded from the Company’s diluted earnings per share computation. There were approximately 1.7 million and 1.5 million shares covered by outstanding stock options that were anti-dilutive for the three months ended December 31, 2011 and 2010, respectively. There were approximately 1.8 million and 1.3 million shares covered by outstanding stock options that were anti-dilutive for the nine months ended December 31, 2011 and 2010, respectively.

The table below presents the computation of basic and diluted weighted average common shares outstanding for the three and nine months ended December 31, 2011 and 2010:



	Three Months Ended		Nine Months Ended
	December 31,		December 31,
(In thousands)	2011	2010	2011	2010
Weighted average common shares outstanding:
Basic	75,940	84,057	76,632	83,739
Incremental shares from assumed exercises of stock options and options under the ESPP	1,765	1,793	1,708	1,810
Diluted	77,705	85,850	78,340	85,549

- Definition

The entire disclosure for earnings per share.

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