Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.6.0.2
Net Income Per Share
 6 Months Ended
Dec. 31, 2016
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.
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,
2016
 
2015
 
2016
 
2015
Numerator:
 
 
 
 
 
 
 
Net income
$
238,251

 
$
152,207

 
$
416,352

 
$
257,104

Denominator:
 
 
 
 
 
 
 
Weighted-average shares-basic, excluding unvested restricted stock units
156,335

 
155,252

 
156,232

 
156,036

Effect of dilutive restricted stock units and options(1)
788

 
744

 
839

 
935

Weighted-average shares-diluted
157,123

 
155,996

 
157,071

 
156,971

Basic net income per share
$
1.52

 
$
0.98

 
$
2.66

 
$
1.65

Diluted net income per share
$
1.52

 
$
0.98

 
$
2.65

 
$
1.64

Anti-dilutive securities excluded from the computation of diluted net income per share
2

 
139

 
56

 
182


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(1) The Company has not had any outstanding stock options since August 2016.