| Net Income per Share |
Net Income per ShareThe following table sets forth the computation of basic and diluted net income per common share for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended December 31, | | Six Months Ended December 31, | | 2022 | | 2021 | | 2022 | | 2021 | | Numerator | | | | | | | | | Net income | $ | 13,658 | | | $ | 11,078 | | | $ | 22,857 | | | $ | 21,605 | | | Allocation of earnings to participating securities | (112) | | | (94) | | | (187) | | | (182) | | | Numerator for basic EPS - Net income available to common stockholders | $ | 13,546 | | | $ | 10,984 | | | $ | 22,670 | | | $ | 21,423 | | | Effect of dilutive securities | | | | | | | | | Dilutive effect of participating securities | — | | | 2 | | | — | | | 4 | | | Numerator for diluted EPS | $ | 13,546 | | | $ | 10,986 | | | $ | 22,670 | | | $ | 21,427 | | | Denominator | | | | | | | | | Weighted-average common shares outstanding - basic | 15,028,179 | | | 15,632,283 | | | 15,008,092 | | | 15,696,765 | | | Dilutive effect of assumed exercises of stock options | 132,974 | | | 357,323 | | | 137,609 | | | 360,842 | | | Weighted-average common shares outstanding - diluted | 15,161,153 | | | 15,989,606 | | | 15,145,701 | | | 16,057,607 | | | Net income per share - basic | $ | 0.90 | | | $ | 0.70 | | | $ | 1.51 | | | $ | 1.36 | | | Net income per share - diluted | $ | 0.90 | | | $ | 0.68 | | | $ | 1.50 | | | $ | 1.33 | | | | | | | | | |
Potential dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. There were 540,600 of stock options that were anti-dilutive for the three and six months ended December 31, 2022. There were 41,000 and 56,000 of stock options that were anti-dilutive for the three and six months ended December 31, 2021, respectively.
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