Quarterly report pursuant to Section 13 or 15(d)

Reconciliation of Basic and Diluted Net Income Per Common Share

v2.3.0.15
Reconciliation of Basic and Diluted Net Income Per Common Share
6 Months Ended
Sep. 30, 2011
Reconciliation of Basic and Diluted Net Income Per Common Share  
Reconciliation of Basic and Diluted Net Income Per Common Share

Note 10. Reconciliation of Basic and Diluted Net Income Per Common Share

 

The following table presents a reconciliation of basic EPS to diluted EPS (amounts in thousands, except per share data):

 

 

 

Quarters Ended September 30,

 

Six Months Ended September 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$

14,318

 

$

34,911

 

$

46,167

 

$

14,812

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding:

 

 

 

 

 

 

 

 

 

Basic

 

44,370

 

27,092

 

41,924

 

27,092

 

Assumed conversion of employee stock options

 

299

 

305

 

335

 

260

 

Assumed conversion of Closing Warrant

 

7,561

 

23,797

 

10,048

 

23,177

 

Diluted

 

52,230

 

51,194

 

52,307

 

50,529

 

 

 

 

 

 

 

 

 

 

 

Net income per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

0.32

 

$

1.29

 

$

1.10

 

$

0.55

 

Diluted

 

$

0.27

 

$

0.68

 

$

0.88

 

$

0.29

 

 

Common stock equivalents that could potentially dilute net income per basic share in the future, but were not included in the computation of diluted earnings per share because the impact would have been antidilutive, are as follows (amounts in thousands):

 

 

 

Quarters Ended September 30,

 

Six Months Ended September 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Assumed conversion of employee stock options

 

903

 

767

 

710

 

807