Net Income Per Share

9 Months Ended

Mar. 31, 2022

(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 market share 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 March 31,				Nine Months Ended March 31,
	2021		2022		2021		2022
Numerator:
Net income	$	36,834	$	34,846	$	58,936	$	75,631

Denominator:
Weighted-average shares used in computing net income per share:
Basic	54,415		55,114		54,244		54,996
Weighted-average effect of potentially dilutive shares:
Employee stock options, restricted stock units, market share units and employee stock purchase plan shares	1,999		1,253		2,094		1,441
Diluted	56,414		56,367		56,338		56,437

Net income per share:
Basic	$	0.68	$	0.63	$	1.09	$	1.38
Diluted	$	0.65	$	0.62	$	1.05	$	1.34

The following table summarizes the outstanding restricted stock units and market share units that were excluded from the diluted per share calculation for the periods presented because to include them would have been antidilutive:


	Three Months Ended March 31,		Nine Months Ended March 31,
	2021	2022	2021	2022
Market share units	—	19	—	19
Restricted stock units	1	62	13	59
Total	1	81	13	78