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Earnings Per Share
 6 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of common and potential common shares outstanding.
 
Quarter ended
 
Six months ended
 
December 31,
 
December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Net Income
$
20,656

 
$
16,821

 
$
36,652

 
$
36,029

Denominator:
 
 
 
 
 
 
 
Weighted-average shares, basic
26,648

 
28,579

 
27,175

 
28,562

Dilutive effect of share-based payments
254

 
252

 
252

 
251

Weighted-average shares, diluted
26,902

 
28,831

 
27,427

 
28,813

 
 
 
 
 
 
 
 
Net income per common share, basic
$
0.78

 
$
0.59

 
$
1.35

 
$
1.26

Net income per common share, diluted
$
0.77

 
$
0.58

 
$
1.34

 
$
1.25



For the quarter and six months ended December 31, 2015, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 488,087 and 457,087, respectively. For the quarter and six months ended December 31, 2014, there were 319,508 and 273,549 weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive.