Quarterly report pursuant to Section 13 or 15(d)

Net Income per Common Share

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Net Income per Common Share
 9 Months Ended
Dec. 31, 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 and nine months ended December 31, 2024 and 2023, respectively, are as follows:
 Three Months Ended December 31, 2024  Three Months Ended December 31, 2023 Nine Months Ended December 31, 2024 Nine Months Ended December 31, 2023
Basic net income per common share    
Net income $ 18,539  $ 15,837  $ 36,544  $ 41,505 
Weighted-average common shares outstanding 33,709,174  33,703,845  33,753,085  33,946,201 
Basic net income per common share $ 0.55  $ 0.47  $ 1.08  $ 1.22 
Three Months Ended December 31, 2024 Three Months Ended December 31, 2023 Nine Months Ended December 31, 2024 Nine Months Ended December 31, 2023
Diluted net income per common share 1401    
Net income $ 18,539  $ 15,837  $ 36,544  $ 41,505 
Weighted-average common shares outstanding 33,709,174  33,703,845  33,753,085  33,946,201 
Common share equivalents:
Stock options 27,072  33,602  27,784  28,156 
Restricted and performance stock units 355,486  464,078  308,863  350,216 
Weighted average shares outstanding – dilutive (1)
34,091,732  34,201,525  34,089,732  34,324,573 
Diluted net income per common share $ 0.54  $ 0.46  $ 1.07  $ 1.21 
(1) For the three months ended December 31, 2024 and 2023, zero 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. For the nine months ended December 31, 2024 and 2023, zero and 1,633 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.