COMPUTATION OF EARNINGS PER COMMON SHARE

12 Months Ended

Mar. 31, 2016

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. The two-class method of calculating earnings per share did not have a material impact on the Company's earnings per share calculation as of March 31, 2016, 2015, and 2014.

The following table sets forth the computation of basic and diluted earnings per share:



(in thousands, except earnings per share data)	Fiscal Year Ended March 31,
	2014		2015		2016
Numerator:
Net income	$	112,417	$	112,301	$	68,392

Denominator:
Weighted average common shares-basic	42,452		41,723		34,127
Dilutive effect of employee equity incentive plans	912		920		811
Weighted average shares-diluted	43,364		42,643		34,938

Basic earnings per common share	$	2.65	$	2.69	$	2.00
Diluted earnings per common share	$	2.59	$	2.63	$	1.96

Potentially dilutive securities excluded from diluted earnings per share because their effect is anti-dilutive	202		442		326