Net Income per Share

6 Months Ended

Sep. 30, 2015

Basic net income per share represents net income divided by the weighted-average number of common shares outstanding for the period. Diluted net income per share represents net income divided by the weighted-average number of common shares outstanding, including the dilutive impact of potential issuances of common stock. The reconciliations of basic to diluted weighted-average common shares outstanding were as follows:



	Three Months Ended September 30,		Six Months Ended September 30,
	2015	2014	2015	2014
Weighted-average shares used in basic computation	32,511,000	34,632,000	32,812,000	34,629,000
Dilutive effect of stock-based awards*	264,000	322,000	—	312,000
Weighted-average shares used in diluted computation	32,775,000	34,954,000	32,812,000	34,941,000

*Excluded NSUs	177,000	143,000	480,000	143,000
*Excluded restricted stock units (RSUs)	457,000	888,000	457,000	888,000
*Excluded outside director restricted stock awards (RSAs)	—	—	9,000	—
*Excluded stock appreciation rights (SARs)	510,000	525,000	700,000	525,000

*The share-based awards excluded from the dilutive effect were excluded because necessary conditions had not been satisfied for the shares to be issuable based on the Company’s performance for the three months ended September 30, 2015 and 2014, and the six months ended September 30, 2014. The excluded awards include the maximum amounts achievable for these awards. For the six months ended September 30, 2015, the Company excluded all NSUs, RSUs, RSAs and SARs from the diluted net loss per share computation because they were antidilutive due to the net loss during the period.