Earnings Per Share

6 Months Ended

Dec. 31, 2013

Earnings Per Share

(5) Earnings Per Share

Basic earnings per share is computed based on the weighted-average number of shares of the Company’s common stock outstanding. Diluted earnings per share is computed based on the weighted-average number of shares of the Company’s common stock, including the dilutive effect of common stock equivalents outstanding.

The following is a reconciliation of the denominators of the basic and diluted earnings per share computations:

	Three months ended December 31,				Six months ended December 31,
(In thousands)	2013		2012		2013		2012
Denominator:
Weighted-average shares outstanding used to compute basic earnings per share		75,070		81,692		77,323		81,632
Effect of dilutive stock options		1,755		2,548		1,989		2,459
Weighted-average shares outstanding and dilutive securities used to compute dilutive earnings per share		76,825		84,240		79,312		84,091

Certain outstanding stock options were excluded from the computation of diluted earnings per share for the three and six months ended December 31, 2013 and 2012 because the effect would have been anti-dilutive. These potential dilutive common shares, which may be dilutive to future diluted earnings per share, are as follows:

	Three months ended December 31,				Six months ended December 31,
(In thousands)	2013		2012		2013		2012
Anti-dilutive options excluded from EPS computation		8,500		5,605		7,136		4,585