Net Income Per Common Share

9 Months Ended

Mar. 31, 2016

The following table shows the computation of basic and diluted net income per share for the three and nine months ended March 31, 2016 (in thousands, except per share amounts):



	Three Months Ended March 31,				Nine Months Ended March 31,
	2016		2015		2016		2015
Numerator:
Net income	$	16,662	$	23,056	$	65,050	$	75,161

Denominator:
Weighted-average shares outstanding	48,047		46,824		47,737		46,138
Effect of dilutive securities	4,191		5,184		3,900		4,964
Weighted-average diluted shares	52,238		52,008		51,637		51,102

Basic net income per share	$	0.35	$	0.49	$	1.36	$	1.63
Diluted net income per share	$	0.32	$	0.44	$	1.26	$	1.47

For the three and nine months ended March 31, 2016 and 2015, 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 anti-dilutive common share equivalents resulting from outstanding equity awards were 1,287,000 and 1,235,000 for the three and nine months ended March 31, 2016, respectively, and 175,000 and 627,000 for the three and nine months ended March 31, 2015, respectively.