Net Income Per Common Share

3 Months Ended

Sep. 30, 2020

The following table shows the computation of basic and diluted net income per common share for the three months ended September 30, 2020 and 2019 (in thousands, except per share amounts):


	Three Months Ended September 30,
	2020		2019
Numerator:
Net income	$	26,601	$	26,345

Denominator:
Weighted-average shares outstanding	52,329		50,274
Effect of dilutive securities	2,097		1,430
Weighted-average diluted shares	54,426		51,704

Basic net income per common share	$	0.51	$	0.52
Diluted net income per common share	$	0.49	$	0.51

For the three months ended September 30, 2020 and 2019, the Company had stock options, restricted stock units ("RSUs") and performance based restricted stock units ("PRSUs") outstanding that could potentially dilute basic earnings per share in the future, but were excluded from the computation of diluted net income per share in the periods presented, as their effect would have been anti-dilutive. The anti-dilutive common share equivalents resulting from outstanding equity awards were 1,177,694 and 3,958,789 for three months ended September 30, 2020, and 2019, respectively.