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Earnings Per Share
 9 Months Ended
Mar. 31, 2020
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
 
Nine months ended
 
March 31,
 
March 31,
 
2020
 
2019
 
2020
 
2019
 
(in thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Net income
$
1,713

 
$
11,715

 
$
24,608

 
$
46,019

Denominator:
 
 
 
 
 
 
 
Weighted-average shares, basic
25,346

 
25,704

 
25,386

 
25,647

Dilutive effect of share-based payments
17

 
58

 
58

 
108

Weighted-average shares, diluted
25,363

 
25,762

 
25,444

 
25,755

 
 
 
 
 
 
 
 
Net income per common share, basic
$
0.07

 
$
0.46

 
$
0.97

 
$
1.79

Net income per common share, diluted
$
0.07

 
$
0.45

 
$
0.97

 
$
1.79



For the quarter and nine months ended March 31, 2020, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 1,036,740 and 980,803, respectively. For the quarter and nine months ended March 31, 2019, weighted-average shares outstanding excluded from the computation of diluted earnings per share were 592,411 and 459,189, respectively.