XML 49 R11.htm IDEA: XBRL DOCUMENT v2.4.1.9
Net Income Per Common Share
 9 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Net Income Per Common Share
Net Income Per Common Share

The computation of basic and diluted using the two-class method is as follows (in thousands, except per share amounts):
    
 
Three Months Ended
March 31,
 
Nine Months Ended
March 31,
 
2015
 
2014
 
2015
 
2014
Basic net income per common share calculation
 
 
 
 
 
 
 
Net income
$
23,056

 
$
16,574

 
$
75,161

 
$
37,608

Less: Undistributed earnings allocated to participating securities
—

 
(1
)
 
—

 
(34
)
Net income attributable to common shares—basic
$
23,056

 
$
16,573

 
$
75,161

 
$
37,574

Weighted-average number of common shares used to compute basic net income per common share
46,824

 
43,992

 
46,138

 
43,128

Basic net income per common share
$
0.49

 
$
0.38

 
$
1.63

 
$
0.87

Diluted net income per common share calculation
 
 
 
 
 
 
 
Net income
$
23,056

 
$
16,574

 
$
75,161

 
$
37,608

Less: Undistributed earnings allocated to participating securities
—

 
(1
)
 
—

 
(32
)
Net income attributable to common shares—diluted
$
23,056

 
$
16,573

 
$
75,161

 
$
37,576

Weighted-average number of common shares used to compute basic net income per common share
46,824

 
43,992

 
46,138

 
43,128

Dilutive effect of options to purchase common stock
5,184

 
3,432

 
4,964

 
2,729

Weighted-average number of common shares used to compute diluted net income per common share
52,008

 
47,424

 
51,102

 
45,857

Diluted net income per common share
$
0.44

 
$
0.35

 
$
1.47

 
$
0.82



For the three and nine months ended March 31, 2015 and 2014, the Company had stock options and restricted stock units 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 shares of anti-dilutive common share equivalents resulting from outstanding equity awards were 175,000 and 627,000 for the three and nine months ended March 31, 2015, respectively, and 2,142,000 and 3,892,000 for the three and nine months ended March 31, 2014, respectively.