COMPUTATION OF EARNINGS PER COMMON SHARE (Tables)

6 Months Ended

Sep. 30, 2017

Computation of Basic and Diluted Earnings per Common Share

The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended September 30, 2016 and 2017:



	Three Months Ended September 30,					Six Months Ended September 30,
(in thousands, except per share data)	2016⁽¹⁾		2017			2016⁽¹⁾		2017
Basic earnings per common share:
Numerator:
Net income	$	20,474	$	19,953		$	40,861	$	38,781
Income allocated to participating securities, basic	n/a		(597		)	n/a		(1,169		)
Net income attributable to common shareholders, basic	$	20,474	$	19,356		$	40,861	$	37,612

Denominator:
Weighted average common shares, basic	32,281		32,570			32,269		32,538

Basic earnings per common share	$	0.63	$	0.59		$	1.27	$	1.16

Diluted earnings per common share:
Numerator:
Net income attributable to common shareholders, basic	$	20,474	$	19,356		$	40,861	$	37,612
Net effect of reallocating undistributed earnings of unvested shareholders	n/a		3			n/a		15
Net income attributable to common shareholders, diluted	$	20,474	$	19,359		$	40,861	$	37,627

Denominator:
Weighted average common shares-basic	32,281		32,570			32,269		32,538
Dilutive effect of employee equity incentive plans	445		239			596		573
Weighted average common shares, diluted	32,726		32,809			32,865		33,111

Diluted earnings per common share	$	0.63	$	0.59		$	1.24	$	1.14

Potentially dilutive securities excluded from diluted earnings per common share because their effect is anti-dilutive	543		1,389			634		959

⁽¹⁾ As previously disclosed in forms 10-Q and 10-K for Fiscal Year 2017, 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 six months ended September 30. 2016; as such, these periods have not been adjusted to reflect the two-class method of calculating earnings per share in the above table.