Quarterly report pursuant to Section 13 or 15(d)

Earnings and Net Income (Loss) per Common Share

v2.4.0.6
Earnings and Net Income (Loss) per Common Share
 9 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings and Net Income (Loss) per Common Share
Earnings and Net Income per Common Share
Basic earnings per share (EPS) and net loss per share is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted net loss per share is computed by dividing net loss by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method.  With regard to the performance stock units, we assumed that the target number of shares would be issued within the calculation of diluted net income per common share.
The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three and nine months ended December 31, 2012 and 2011, respectively, are as follows:
 
 Three Months Ended December 31, 2012
 
 Three Months Ended December 31, 2011
 
Nine Months Ended December 31, 2012
 
Nine Months Ended December 31, 2011
Basic net income per common share
 

 
 

 
 
 
 
Net income
$
7,738

 
$
6,933

 
$
21,325

 
$
5,781

Weighted-average common shares outstanding
30,947,064

 
29,586,956

 
30,672,803

 
28,937,292

Basic net income per common share
$
0.25

 
$
0.23

 
$
0.70

 
$
0.20

 
 Three Months Ended December 31, 2012
 
 Three Months Ended December 31, 2011
 
Nine Months Ended December 31, 2012
 
Nine Months Ended December 31, 2011
Diluted net income per common share
 

 
 

 
 

 
 

Net income
$
7,738

 
$
6,933

 
$
21,325

 
$
5,781

Weighted-average common shares outstanding
30,947,064

 
29,586,956

 
30,672,803

 
28,937,292

Common share equivalents:
 
 
 
 
 
 
 
Stock options issued
868,110

 
1,629,537

 
1,028,056

 
1,542,868

Restricted and performance stock units issued
55,923

 
—

 
24,865

 
—

Weighted average shares outstanding – dilutive
31,871,097

 
31,216,493

 
31,725,724

 
30,480,160

Diluted net income per common share
$
0.24

 
$
0.22

 
$
0.67

 
$
0.19