COMPUTATION OF EARNINGS PER COMMON SHARE

9 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

COMPUTATION OF EARNINGS PER COMMON SHARE

COMPUTATION OF EARNINGS PER COMMON SHARE

The Company has a share-based compensation plan under which employees, non-employee directors, and consultants may be granted share-based awards, including shares of restricted stock on which non-forfeitable dividends are paid on unvested shares. As such, shares of restricted stock are considered participating securities under the two-class method of calculating earnings per share as described in the Earnings per Share Topic of the FASB ASC. The two-class method of calculating earnings per share did not have a material impact on the Company's earnings per share calculation for the three and nine month periods ending December 31, 2013 or 2012.

The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended December 31, 2013 and 2012:

	Three Months Ended				Nine Months Ended
	December 31,				December 31,
(in thousands, except per share data)	2013		2012		2013		2012
Numerator:
Net income	$	34,383	$	28,206	$	84,474	$	77,693
Denominator:
Weighted average common shares-basic	42,441		41,745		42,647		41,629
Dilutive effect of employee equity incentive plans	787		873		907		950
Weighted average common shares-diluted	43,228		42,618		43,554		42,579
Basic earnings per common share	$	0.81	$	0.68	$	1.98	$	1.87
Diluted earnings per common share	$	0.80	$	0.66	$	1.94	$	1.82
Potentially dilutive securities excluded from diluted earnings per common share because their effect is anti-dilutive	268		1,210		173		1,125