Earnings Per Share (Tables)

9 Months Ended

Mar. 31, 2019

The following table sets forth the computation of earnings per share for the periods indicated. Basic net income per share has been computed using the weighted average number of shares of Common Stock outstanding during the period. Diluted net income per share has been computed using the weighted average number of common shares outstanding during the period plus dilutive potential shares of Common Stock from (1) stock options, performance and restricted shares (under the treasury stock method) and (2) convertible debt (under the If Converted method) outstanding during the period. The Company’s convertible debt calculated under the if-converted method was anti-dilutive for both the three and nine months ended March 31, 2019 and was excluded from the calculation of earnings per share ($000 except per share data):

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2019		2018		2019		2018
Numerator:
Net earnings	$	24,638	$	30,098	$	79,489	$	60,835
Numerator for basic income per share	$	24,638	$	30,098	$	79,489	$	60,835
Effect of dilutive securities:
Interest expense, net of tax, on 0.25% Convertible Senior Notes due 2022		-		2,520		-		-
Numerator for diluted income per share	$	24,638	$	32,618	$	79,489	$	60,835
Denominator:
Denominator for basic income per share - weighted average shares		63,612		62,427		63,539		62,491
Effect of dilutive securities:
Dilutive effect of common stock equivalents		2,089		2,624		2,305		2,633
0.25% Convertible Senior Notes due 2022		-		7,331		-		-
Dilutive potential common shares		2,089		9,955		2,305		2,633
Denominator for diluted income per share		65,701		72,382		65,844		65,124
Net earnings per share:
Basic earnings per common share	$	0.39	$	0.48	$	1.25	$	0.97
Diluted earnings per common share	$	0.38	$	0.45	$	1.21	$	0.93

Schedule of Potential Shares of Common Stock Excluded from the Calculation of Diluted Net Income Per Share

The following table presents potential shares of Common Stock excluded from the calculation of diluted net income per share as their effect would have been anti-dilutive ($000):

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2019		2018		2019		2018
Common stock equivalents		109		199		119		140
0.25% Convertible Senior Notes due 2022		7,331		-		7,331		7,331
Total anti-dilutive shares		7,440		199		7,450		7,471