Net Income Per Common Share

6 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Net Income Per Common Share

(4)  Net Income Per Common Share

Basic income per common share is based on the weighted average number of common shares outstanding during the period. Diluted income per common share includes the dilutive effect of potential common shares outstanding. The following table sets forth the reconciliation of weighted average shares outstanding and diluted weighted average shares outstanding:

	Six Months Ended  December 31,				Three Months Ended  December 31,
	2015		2014		2015		2014
Weighted average shares outstanding		29,049		28,679		29,115		28,740
Dilutive effect of stock options and restricted stock awards and units		446		512		484		464
Diluted weighted average shares outstanding		29,495		29,191		29,599		29,204

The Convertible Senior Notes (see Note 5) will only be included in the dilutive net income per share calculations using the treasury stock method during periods in which the average market price of Aceto’s common stock was above the applicable conversion price of the Convertible Senior Notes, or $33.215 per share, and the impact would not be anti-dilutive.