Net Income per Share

9 Months Ended

Mar. 31, 2021

4. Net Income per Share

Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive shares of common stock assuming the dilutive effect of outstanding stock options and restricted stock units using the treasury stock method.

The following table presents the calculation of basic and diluted net income per share:

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2021		2020		2021		2020
	(In thousands, except per share data)				(In thousands, except per share data)
Numerator:
Basic and Diluted:
Net income	$	5,037	$	13,919	$	20,184	$	16,600
Denominator:
Basic:
Weighted-average shares of common stock used in computing basic net income per share		53,427		51,807		52,988		51,353
Diluted:
Weighted-average shares of common stock used in computing basic net income per share		53,427		51,807		52,988		51,353
Weighted-average effect of dilutive securities:
Stock options		764		968		829		1,148
Restricted stock units		1,432		664		1,198		915
Weighted-average shares of common stock used in computing diluted net income per share		55,623		53,439		55,015		53,416
Net income per share:
Basic	$	0.09	$	0.27	$	0.38	$	0.32
Diluted	$	0.09	$	0.26	$	0.37	$	0.31
Securities excluded from weighted-average shares used in computing diluted net income per share because the effect would have been anti-dilutive ⁽¹⁾		4		1,317		65		965

⁽¹⁾	These weighted-shares relate to anti-dilutive stock options and restricted stock units as calculated using the treasury stock method and could be dilutive in the future.