Earnings Per Share

3 Months Ended

Sep. 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.



	Quarter ended
	September 30,
	2016		2015
	(in thousands, except per share data)
Numerator:
Net Income	$	14,816	$	15,996
Denominator:
Weighted-average shares, basic	25,523		27,702
Dilutive effect of share-based payments	239		227
Weighted-average shares, diluted	25,762		27,929

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

For the quarter ended September 30, 2016, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 421,328. For the quarter ended September 30, 2015, there were 587,728 weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive.