Earnings Per Share

3 Months Ended

Sep. 30, 2015

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of common and potential common shares outstanding.



	Quarter ended
	September 30,
	2015		2014
	(in thousands, except per share data)
Numerator:
Net Income	$	15,996	$	19,208
Denominator:
Weighted-average shares, basic	27,702		28,544
Dilutive effect of share-based payments	227		250
Weighted-average shares, diluted	27,929		28,794

Net income per common share, basic	$	0.58	$	0.67
Net income per common share, diluted	$	0.57	$	0.67

For the quarter ended September 30, 2015, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 587,728. For the quarter ended September 30, 2014, there were 227,720 weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive.