COMPUTATION OF EARNINGS PER COMMON SHARE

6 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

COMPUTATION OF EARNINGS PER COMMON SHARE

COMPUTATION OF EARNINGS PER COMMON SHARE

The Company has a share-based compensation plan under which employees may be granted share-based awards, including shares of restricted stock on which non-forfeitable dividends are paid on unvested shares. As such, shares of restricted stock are considered participating securities under the two-class method of calculating earnings per share as described in the Earnings per Share Topic of the FASB ASC. The two-class method of calculating earnings per share did not have a material impact on the Company's earnings per share calculation for the three and six month periods ending September 30, 2013 or 2012.

The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended September 30, 2013 and 2012:

	Three Months Ended				Six Months Ended
	September 30,				September 30,
(in thousands, except per share data)	2013		2012		2013		2012
Numerator:
Net income	$	23,138	$	25,924	$	50,091	$	49,487
Denominator:
Weighted average common shares-basic	42,810		41,482		42,751		41,571
Dilutive effect of employee equity incentive plans	787		921		916		950
Weighted average common shares-diluted	43,597		42,403		43,667		42,521
Basic earnings per common share	$	0.54	$	0.62	$	1.17	$	1.19
Diluted earnings per common share	$	0.53	$	0.61	$	1.15	$	1.16
Potentially dilutive securities excluded from diluted earnings per common share because their effect is anti-dilutive	183		1,061		162		1,081