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.


	Fiscal year ended June 30,
	2026		2025		2024
	(in thousands, except per share data)
Numerator:


Net income	$	78,873	$	71,548	$	77,060

Denominator:
Weighted-average shares, basic	21,384		23,442		24,868
Dilutive effect of share-based payments	308		397		354
Weighted-average shares, diluted	21,692		23,839		25,222



Net income per common share, basic	$	3.69	$	3.05	$	3.10



Net income per common share, diluted	$	3.64	$	3.00	$	3.06

For the years ended June 30, 2026, 2025 and 2024, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would have been antidilutive were 366,717, 201,879 and 348,604, respectively.