Equity and Earnings Per Share

9 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

EQUITY AND EARNINGS PER SHARE

We have authorized 5 million shares of preferred stock at $0.01 par value. As of both March 31, 2012 and June 30, 2011, we had 0 preferred shares issued and outstanding, respectively.

We have authorized 75 million shares of common stock with a $0.01 par value. As of March 31, 2012, we had 59,873,397 shares issued and outstanding. As of June 30, 2011, we had 59,004,028 shares issued and outstanding.

We compute basic earnings per share by dividing net income for the period by the weighted average number of common shares outstanding during the period. We compute diluted earnings per share by dividing net income by the weighted average number of common shares plus the dilutive effect of outstanding stock options and restricted stock awards/units. The following table outlines the basic and diluted earnings per common share computations:

	Three Months Ended				Nine Months Ended
(in thousands, except per share data)	March 31, 2012		March 31, 2011		March 31, 2012		March 31, 2011
Net income attributable to common stock	$	22,869	$	15,734	$	45,370	$	50,357
Weighted average number of shares outstanding, used in computing basic earnings per share	59,652		58,673		59,319		58,545
Dilutive common stock equivalents	842		1,135		953		1,172
Weighted average number of shares outstanding used in computing diluted earnings per share	60,494		59,808		60,272		59,717
Basic earnings per share	$0.38		$0.27		$0.76		$0.86
Diluted earnings per share	$0.38		$0.26		$0.75		$0.84
Anti-dilutive options (excluded from the calculation of diluted earnings per share)	1,869		1,537		2,209		1,396