Basic and Diluted Net Income (Loss) Per Common Share

6 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Basic and Diluted Net Income (Loss) Per Common Share

Basic and Diluted Net Income Per Common Share

Basic earnings per share calculation is based on the weighted-average number of common shares outstanding. Diluted earnings per share calculation is based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive shares of common stock include stock options and RSUs.

The following table presents net income (loss) per basic and diluted share (amounts in thousands, except per share data):

	Three Months Ended September 30,					Six Months Ended September 30,
	2019			2018		2019		2018
Numerator:
Net income (loss)	$	(15,260	)	$	37,141	$	25,080	$	72,361
Denominator:
Weighted-average shares outstanding:
Basic	58,528			57,799		58,440		57,570
Assumed conversion of employee stock grants	—			1,398		735		1,549
Diluted	58,528			59,197		59,175		59,119
Net income (loss) per basic share	$	(0.26	)	$	0.64	$	0.43	$	1.26
Net income (loss) per diluted share	$	(0.26	)	$	0.63	$	0.42	$	1.22

  

There were no common stock equivalents that could potentially dilute net income per basic share in the future, but were not included in the computation of diluted earnings per share because the impact would have been anti-dilutive.