Earnings Per Share

3 Months Ended

Sep. 30, 2018

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
	September 30,
	2018		2017
	(in thousands, except per share data)
Numerator:
Net income	$	14,322	$	4,147
Denominator:
Weighted-average shares, basic	25,599		25,434
Dilutive effect of share-based payments	156		145
Weighted-average shares, diluted	25,755		25,579

Net income per common share, basic	$	0.56	$	0.16
Net income per common share, diluted	$	0.56	$	0.16

For the quarters ended September 30, 2018 and 2017, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 423,738 and 444,588, respectively.