Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.3.1.900
Net Income Per Share
6 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
NOTE 9 – NET INCOME PER SHARE
Basic net income per share is calculated by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by using the weighted-average number of common shares outstanding during the period, increased to include the number of additional shares of common stock that would have been outstanding if the shares of common stock underlying the Company’s outstanding dilutive restricted stock units and stock options had been issued. The dilutive effect of outstanding restricted stock units and options is reflected in diluted net income per share by application of the treasury stock method. Under the treasury stock method, the amount the employee must pay for exercising stock options, the amount of compensation cost for future service that the Company has not yet recognized, and the amount of tax benefits that is to be recorded in additional paid-in capital when the award becomes deductible are assumed to be used to repurchase shares.
The following table sets forth the computation of basic and diluted net income per share:
(In thousands, except per share amounts)
Three months ended
December 31,
 
Six months ended
December 31,
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
Net income
$
152,207

 
$
20,268

 
$
257,104

 
$
92,501

Denominator:
 
 
 
 
 
 
 
Weighted-average shares-basic, excluding unvested restricted stock units
155,252

 
164,036

 
156,036

 
164,440

Effect of dilutive options and restricted stock units
744

 
1,281

 
935

 
1,510

Weighted-average shares-diluted
155,996

 
165,317

 
156,971

 
165,950

Basic net income per share
$
0.98

 
$
0.12

 
$
1.65

 
$
0.56

Diluted net income per share
$
0.98

 
$
0.12

 
$
1.64

 
$
0.56

Anti-dilutive securities excluded from the computation of diluted net income per share
139

 
32

 
182

 
13