Quarterly report pursuant to Section 13 or 15(d)

Net Income per Common Share

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Net Income per Common Share
 3 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Income per Common Share Net Income per Common Share
The reconciliations of the denominators used to calculate basic and diluted net income per common share for the three months ended June 30, 2024 and 2023, respectively, are as follows:
Three Months Ended June 30, 2024 Three Months Ended June 30, 2023
Basic net income per common share
Net income $ 8,511  $ 10,938 
Weighted-average common shares outstanding 33,756,172  33,566,732 
Basic net income per common share $ 0.25  $ 0.33 
Three Months Ended June 30, 2024 Three Months Ended June 30, 2023
Diluted net income per common share    
Net income $ 8,511  $ 10,938 
Weighted-average common shares outstanding 33,756,172  33,566,732 
Common share equivalents:
Stock options 36,453  21,664 
Restricted and performance stock units 282,395  274,543 
Weighted average shares outstanding – dilutive (1)
34,075,020  33,862,939 
Diluted net income per common share $ 0.25  $ 0.32 
(1) For the three months ended June 30, 2024 and 2023, 45,679 and zero, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect.
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 assume that the associated performance targets will be met at the target level of performance for purposes of calculating diluted net income per common share until such time that it is probable that actual performance will be above or below target.