Earnings Per Share

6 Months Ended

Dec. 31, 2022

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of common and potential common shares outstanding.


	Quarter ended				Six months ended
	December 31,				December 31,
	2022		2021		2022		2021
	(in thousands, except per share data)
Numerator:
Net income from continuing operations	$	25,734	$	23,152	$	49,776	$	45,225
Net income from discontinued operations	—		100		—		100
Net income	$	25,734	$	23,252	$	49,776	$	45,325
Denominator:
Weighted-average shares, basic	25,287		25,585		25,244		25,549
Dilutive effect of share-based payments	215		310		210		257
Weighted-average shares, diluted	25,502		25,895		25,454		25,806

Net income from continuing operations per common share, basic	$	1.02	$	0.91	$	1.97	$	1.77
Net loss from discontinued operations per common share, basic	—		—		—		—
Net income per common share, basic	$	1.02	$	0.91	$	1.97	$	1.77

Net income from continuing operations per common share, diluted	$	1.01	$	0.89	$	1.96	$	1.75
Net loss from discontinued operations per common share, diluted	—		—		—		—
Net income per common share, diluted	$	1.01	$	0.90	$	1.96	$	1.76

For the quarters and six months ended December 31, 2022, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 847,651 and 1,268,455, respectively. For the quarters and six months ended December 31, 2021, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 847,484 and 1,149,352, respectively.