Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Net Income (Loss) Per Common Share

v3.19.2
Basic and Diluted Net Income (Loss) Per Common Share
3 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Basic and Diluted Net Income (Loss) Per Common Share Basic and Diluted Net Income Per Common Share
Basic earnings per share calculation is based on the weighted-average number of common shares outstanding. Diluted earnings per share calculation is based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive shares of common stock include stock options and RSUs.
    
The following table presents basic earnings per share (“EPS”) and diluted EPS (amounts in thousands, except per share data):
 
Three Months Ended June 30,
 
2019
 
2018
Numerator:
 

 
 

Net income
$
40,340

 
$
35,220

Denominator:
 

 
 

Weighted-average shares outstanding:
 

 
 

Basic
58,350

 
57,339

Assumed conversion of employee stock grants
705

 
1,699

Diluted
59,055

 
59,038

 
 
 
 
Net income per basic share
$
0.69

 
$
0.61

 
 
 
 
Net income per diluted share
$
0.68

 
$
0.60

  
There were no 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 anti-dilutive.