Earnings Per Share

9 Months Ended

Mar. 31, 2024

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,
	2024		2023		2024		2023
	(in thousands, except per share data)
Numerator:


Net income	$	12,806	$	21,221	$	60,964	$	70,997
Denominator:
Weighted-average shares, basic	25,025		25,196		24,982		25,228
Dilutive effect of share-based payments	412		243		309		208
Weighted-average shares, diluted	25,437		25,439		25,291		25,436



Net income per common share, basic	$	0.51	$	0.84	$	2.44	$	2.81



Net income per common share, diluted	$	0.50	$	0.83	$	2.41	$	2.79

For the quarter and nine months ended March 31, 2024, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 164,093 and 755,797, respectively. For the quarter and nine months ended March 31, 2023, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 779,688 and 1,152,714, respectively.