Basic and Diluted Net Income (Loss) Per Common Share

3 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Basic and Diluted Net Income (Loss) Per Common Share

Basic and Diluted Net Income Per Common Share

Basic earnings per share calculation is based on the weighted-average number of common shares outstanding. Diluted earnings per share calculation is based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive shares of common stock include stock options and RSUs.

The following table presents basic earnings per share (“EPS”) and diluted EPS (amounts in thousands, except per share data):

	Three Months Ended June 30,
	2019		2018
Numerator:
Net income	$	40,340	$	35,220
Denominator:
Weighted-average shares outstanding:
Basic	58,350		57,339
Assumed conversion of employee stock grants	705		1,699
Diluted	59,055		59,038
Net income per basic share	$	0.69	$	0.61
Net income per diluted share	$	0.68	$	0.60

  

There were no common stock equivalents that could potentially dilute net income per basic share in the future, but were not included in the computation of diluted earnings per share because the impact would have been anti-dilutive.