Earnings per Share

12 Months Ended

Jun. 30, 2017

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,
	2017		2016		2015
	(in thousands, except per share data)
Numerator:
Net income	$	69,246	63,619		65,419

Denominator:
Weighted-average shares, basic	25,318		26,472		28,558
Dilutive effect of share-based payments	197		215		241
Weighted-average shares, diluted	25,515		26,687		28,799

Net income per common share, basic	$	2.74	$	2.40	$	2.29
Net income per common share, diluted	$	2.71	$	2.38	$	2.27

For the years ended June 30, 2017, 2016 and 2015, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would have been antidilutive were 418,325, 461,090 and 340,697, respectively.