Earnings Per Share

6 Months Ended

Dec. 31, 2023

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,
	2023		2022		2023		2022
	(in thousands, except per share data)
Numerator:


Net income	$	32,726	$	25,734	$	48,158	$	49,776
Denominator:
Weighted-average shares, basic	25,035		25,287		24,961		25,244
Dilutive effect of share-based payments	299		215		274		210
Weighted-average shares, diluted	25,334		25,502		25,235		25,454



Net income per common share, basic	$	1.31	$	1.02	$	1.93	$	1.97



Net income per common share, diluted	$	1.29	$	1.01	$	1.91	$	1.96

For the quarter and six months ended December 31, 2023, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 563,690 and 931,367, respectively. For the quarter and six months ended December 31, 2022, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 847,651 and 1,268,455, respectively.