COMPUTATION OF EARNINGS PER COMMON SHARE

6 Months Ended

Sep. 30, 2014

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, non-employee directors, and consultants 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. 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, 2014 and 2013.

The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended September 30, 2014 and 2013:

	Three Months Ended   September 30,				Six Months Ended September 30,
(in thousands, except per share data)	2014		2013		2014		2013
Numerator:
Net income	$	27,421	$	23,138	$	56,093	$	50,091
Denominator:
Weighted average common shares-basic	41,765		42,810		41,692		42,751
Dilutive effect of employee equity incentive plans	740		787		868		916
Weighted average common shares-diluted	42,505		43,597		42,560		43,667
Basic earnings per common share	$	0.66	$	0.54	$	1.35	$	1.17
Diluted earnings per common share	$	0.65	$	0.53	$	1.32	$	1.15
Potentially dilutive securities excluded from diluted earnings per common share because their effect is anti-dilutive	392		183		409		162