Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Net Income (Loss) Per Common Share

v3.19.3.a.u2
Basic and Diluted Net Income (Loss) Per Common Share
9 Months Ended
Dec. 31, 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 net income per basic and diluted share (amounts in thousands, except per share data):
 
Three Months Ended December 31,
 
Nine Months Ended December 31,
 
2019
 
2018
 
2019
 
2018
Numerator:
 

 
 

 
 
 
 
Net income
$
16,602

 
$
40,806

 
$
41,682

 
$
113,167

Denominator:
 

 
 

 
 
 
 
Weighted-average shares outstanding:
 

 
 

 
 
 
 
Basic
58,646

 
58,010

 
58,509

 
57,717

Assumed conversion of employee stock grants
883

 
1,101

 
819

 
1,399

Diluted
59,529

 
59,111

 
59,328

 
59,116

 
 
 
 
 
 
 
 
Net income per basic share
$
0.28

 
$
0.70

 
$
0.71

 
$
1.96

 
 
 
 
 
 
 
 
Net income per diluted share
$
0.28

 
$
0.69

 
$
0.70

 
$
1.91

  
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, are as follows (amounts in thousands):
 
Three Months Ended December 31,
 
Nine Months Ended December 31,
 
2019
 
2018
 
2019
 
2018
Assumed conversion of employee stock grants
88

 
76

 
30