Quarterly report pursuant to Section 13 or 15(d)

Earnings and Net Income (Loss) per Common Share

v2.4.0.8
Earnings and Net Income (Loss) per Common Share
 6 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Earnings and Net Income (Loss) per Common Share
Earnings and Net Income per Common Share
Basic earnings per share ("EPS") per share is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted net income per share is computed by dividing net income 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 reconciliations of the denominators used to calculate basic EPS and diluted EPS for the three and six months ended September 30, 2013 and 2012, respectively, are as follows:
 
 Three Months Ended September 30, 2013
 
 Three Months Ended September 30, 2012
 
Six Months Ended September 30, 2013
 
Six Months Ended September 30, 2012
Basic net income per common share
 

 
 

 
 
 
 
Net income
$
10,572

 
$
6,987

 
$
3,634

 
$
13,587

Weighted-average common shares outstanding
31,486,481

 
30,725,652

 
31,520,603

 
30,534,607

Basic net income per common share
$
0.34

 
$
0.23

 
$
0.12

 
$
0.44

 
 Three Months Ended September 30, 2013
 
 Three Months Ended September 30, 2012
 
Six Months Ended September 30, 2013
 
Six Months Ended September 30, 2012
Diluted net income per common share
 

 
 

 
 

 
 

Net income
$
10,572

 
$
6,987

 
$
3,634

 
$
13,587

Weighted-average common shares outstanding
31,486,481

 
30,725,652

 
31,520,603

 
30,534,607

Common share equivalents:
 
 
 
 
 
 
 
Stock options
588,673

 
899,715

 
582,766

 
873,150

Restricted and performance stock units
30,557

 
15,576

 
29,219

 
11,222

Weighted average shares outstanding – dilutive
32,105,711

 
31,640,943

 
32,132,588

 
31,418,979

Diluted net income per common share
$
0.33

 
$
0.22

 
$
0.11

 
$
0.43