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				Nine months ended
	March 31,				March 31,
	2026		2025		2026		2025
	(in thousands, except per share data)
Numerator:


Net income	$	16,885	$	17,431	$	53,255	$	51,458
Denominator:
Weighted-average shares, basic	21,305		23,275		21,732		23,746
Dilutive effect of share-based payments	273		329		281		419
Weighted-average shares, diluted	21,578		23,604		22,013		24,165



Net income per common share, basic	$	0.79	$	0.75	$	2.45	$	2.17



Net income per common share, diluted	$	0.78	$	0.74	$	2.42	$	2.13

For the quarter and nine months ended March 31, 2026, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 315,898 and 358,406, respectively. For the quarter and nine months ended March 31, 2025, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 241,641 and 245,303, respectively.