Earnings per Share

12 Months Ended

Jun. 30, 2016

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.



	Fiscal Year Ended June 30,
	2016		2015		2014
	(in thousands, except per share data)
Numerator:
Net income	$	63,619	65,419		81,789

Denominator:
Weighted-average shares, basic	26,472		28,558		28,337
Dilutive effect of share-based payments	215		241		265
Weighted-average shares, diluted	26,687		28,799		28,602

Net income per common share, basic	$	2.40	$	2.29	$	2.89
Net income per common share, diluted	$	2.38	$	2.27	$	2.86

For the years ended June 30, 2016, 2015 and 2014, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would have been antidilutive were 461,090, 340,697 and 230,706, respectively.