Earnings per Share

12 Months Ended

Jun. 30, 2018

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,
	2018		2017		2016
	(in thousands, except per share data)
Numerator:
Net income	$	33,153	$	69,246	$	63,619

Denominator:
Weighted-average shares, basic	25,522		25,318		26,472
Dilutive effect of share-based payments	102		197		215
Weighted-average shares, diluted	25,624		25,515		26,687

Net income per common share, basic	$	1.30	$	2.74	$	2.40
Net income per common share, diluted	$	1.29	$	2.71	$	2.38

For the years ended June 30, 2018, 2017 and 2016, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would have been antidilutive were 551,320, 418,325 and 461,090, respectively.