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Net Income Per Share

6 Months Ended

Dec. 31, 2019

(12) Net Income Per Share

Basic net income per common share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted-average number of common shares outstanding during the period and, if dilutive, potential common shares outstanding during the period. The Company’s potential common shares consist of the incremental common shares issuable upon the exercise of stock options, the release of restricted stock units, and the shares purchasable via the employee stock purchase plan as of the balance sheet date. The following table presents the calculation of basic and diluted net income per share:


	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2018		2019		2018		2019
Numerator:
Net income	$	5,704	$	5,467	$	15,556	$	19,373

Denominator:
Weighted-average shares used in computing net income per share:
Basic		52,842		53,542		52,853		53,415
Weighted-average effect of potentially dilutive shares:
Employee stock options and restricted stock units		2,239		2,284		2,379		2,277
Diluted		55,081		55,826		55,232		55,692

Net income per share:
Basic	$	0.11	$	0.10	$	0.29	$	0.36
Diluted	$	0.10	$	0.10	$	0.28	$	0.35

The following table summarizes the outstanding restricted stock units and employee stock purchase plan shares as of the balance sheet date that were excluded from the diluted per share calculation for the periods presented because to include them would have been anti-dilutive:


	Three Months Ended		Six Months Ended
	December 31,		December 31,
	2018	2019	2018	2019
Restricted stock units	25	3	687	616
Employee stock purchase plan shares	17	15	17	15
Total	42	18	704	631

In August 2018, the Company announced that its board of directors approved a program to repurchase up to $35,000 of the Company’s common stock, with authorization through August 14, 2019. The Company completed the repurchase program during the first quarter of fiscal 2019 and repurchased 442 shares for $34,991. All shares of common stock repurchased were retired.