Earnings Per Share

12 Months Ended

Jun. 30, 2011

Earnings Per Share

Earnings Per Share

NOTE 23. EARNINGS PER SHARE

Earnings per share and the weighted-average number of diluted shares are computed as follows (in thousands, except per share data):

	Year ended June 30,
	2011		2010		2009 (As  Adjusted(1))
Net income attributable to CACI	$	144,218	$	106,515	$	89,698
Weighted-average number of basic shares outstanding during the period		30,281		30,138		29,976
Dilutive effect of SSARs/stock options and RSUs/restricted shares after application of treasury stock method		816		538		451
Dilutive effect of the Notes		203		—		—
Weighted-average number of diluted shares outstanding during the period		31,300		30,676		30,427
Basic earnings per share	$	4.76	$	3.53	$	2.99
Diluted earnings per share	$	4.61	$	3.47	$	2.95

(1) Certain amounts for the year ended June 30, 2009 have been adjusted to reflect the retroactive application of new accounting standards. See Note 3.

The total number of weighted-average common stock equivalents excluded from the diluted per share computations due to their anti-dilutive effects for the years ended June 30, 2011, 2010 and 2009, were 1.9 million, 2.4 million, and 2.5 million, respectively. The performance-based RSUs granted in August 2008 were excluded from the calculation of diluted earnings per share for the fiscal year ended June 30, 2009 as the underlying shares were considered to be contingently issuable shares until June 30, 2010, the date on which the performance metric was measured. With the resolution of the performance metric, shares underlying the performance-based RSUs granted in August 2008 and August 2009 are included in the calculation of diluted earnings per share for the years ended June 30, 2010 and 2011. The shares underlying the performance-based RSUs granted in September 2010 are included in the calculation of diluted earnings per share for the year ended June 30, 2011 as the NATP performance metric associated with the shares was met and as if the performance metric based on the share price was computed as of June 30, 2011. The shares underlying the Notes were not included in the computation of diluted earnings per share for the years ended June 30, 2009 and 2010 because the conversion price of $54.65 exceeded the average share price during each three month period in those years. The shares underlying the Notes were included in the computation of diluted earnings per share for the year ended June 30, 2011 because the average share price during the quarters ended March 31, 2011 and June 30, 2011 exceeded the conversion price of $54.65. The Warrants were excluded from the computation of diluted earnings per share because the Warrants' exercise price of $68.31 was greater than the average market price of a share of Company common stock during the periods in which the Warrants were outstanding.