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Earnings Per Share
 6 Months Ended
Dec. 31, 2019
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,
 
2019
 
2018
 
2019
 
2018
 
(in thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Net income
$
11,366

 
$
19,982

 
$
22,896

 
$
34,303

Denominator:
 
 
 
 
 
 
 
Weighted-average shares, basic
25,274

 
25,640

 
25,407

 
25,619

Dilutive effect of share-based payments
84

 
110

 
81

 
133

Weighted-average shares, diluted
25,358

 
25,750

 
25,488

 
25,752

 
 
 
 
 
 
 
 
Net income per common share, basic
$
0.45

 
$
0.78

 
$
0.90

 
$
1.34

Net income per common share, diluted
$
0.45

 
$
0.78

 
$
0.90

 
$
1.33



For the quarter and six months ended December 31, 2019, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 975,907 and 961,980, respectively. For the quarter and six months ended December 31, 2018, weighted-average shares outstanding excluded from the computation of diluted earnings per share were 573,475 and 433,993, respectively.