Reconciliation of Basic and Diluted Net Income Per Common Share

6 Months Ended

Sep. 30, 2011

Reconciliation of Basic and Diluted Net Income Per Common Share

Reconciliation of Basic and Diluted Net Income Per Common Share

Note 10. Reconciliation of Basic and Diluted Net Income Per Common Share

The following table presents a reconciliation of basic EPS to diluted EPS (amounts in thousands, except per share data):

	Quarters Ended September 30,				Six Months Ended September 30,
	2011		2010		2011		2010
Numerator:
Net income	$	14,318	$	34,911	$	46,167	$	14,812
Denominator:
Weighted-average shares outstanding:
Basic	44,370		27,092		41,924		27,092
Assumed conversion of employee stock options	299		305		335		260
Assumed conversion of Closing Warrant	7,561		23,797		10,048		23,177
Diluted	52,230		51,194		52,307		50,529
Net income per share:
Basic	$	0.32	$	1.29	$	1.10	$	0.55
Diluted	$	0.27	$	0.68	$	0.88	$	0.29

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 antidilutive, are as follows (amounts in thousands):

	Quarters Ended September 30,		Six Months Ended September 30,
	2011	2010	2011	2010
Assumed conversion of employee stock options	903	767	710	807