EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share:



	Three Months Ended September 30,
	2017		2016
Numerator:
Net income	$	19,846	$	8,604

Denominator:
Basic weighted average shares outstanding	103,709		103,468
Effect of dilutive stock options, unvested restricted stock and unvested restricted share units	767		738
Diluted weighted average shares outstanding	104,476		104,206

Net income per common share:
Basic	$	0.19	$	0.08
Diluted	$	0.19	$	0.08

Basic earnings per share excludes the dilutive effects of stock options, unvested restricted stock and unvested restricted share units. Diluted earnings per share includes the dilutive effects of common stock equivalents such as stock options and unvested restricted stock awards.

There were 573 and 277 stock-based awards excluded from our diluted earnings per share calculations for the three months ended September 30, 2017 and 2016, respectively, as such awards were contingently issuable based on market or performance conditions, and such conditions had not been achieved during the respective periods. Additionally, 4 restricted stock awards were excluded from our diluted earnings per share calculation for the three months ended September 30, 2016 as such awards were antidilutive. Restricted stock awards excluded from our diluted earnings per share calculation for the three months ended September 30, 2017 were de minimis.

Share Repurchase Program

On June 21, 2017, the Company's Board of Directors authorized the repurchase of up to $250,000 of the Company’s issued and

outstanding common stock. Repurchases may be made from time to time in the open market, pursuant to pre-set trading plans, in private transactions or otherwise. The authorization does not have a stated expiration date. The extent to which the Company repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations, including the Company’s historical strategy of pursuing accretive acquisitions. As of September 30, 2017, the Company had not repurchased any shares under this program, and had $250,000 of remaining capacity under the share repurchase program.