Virtusa Corporation Just Filed Its Quarterly Report: (3) Net Income per ...


(3) Net Income per Share

 

Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period, and diluted earnings per share is computed by including common stock equivalents outstanding for the period in the denominator. Common stock equivalents include shares issuable upon the exercise of outstanding stock options and stock appreciation rights (R 20;SARs”) and unvested shares of restricted stock and, in the case of options and SARs, net of shares assumed to have been purchased with the proceeds, using the treasury stock method. The following table sets forth the computation of basic and diluted net income per share for the periods set forth below:

 

 

 

Three Months Ended
December 31,

 

Nine Months Ended
December 31,

 

 

 

2013

 

2012

 

2013

 

2012

 

Numerators:

 

 

 

 

 

 

 

 

 

Net income

 

$

9,328

 

$

7,404

 

$

24,328

 

$

19,307

 

Denominators:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

25,652,538

 

24,969,800

 

25,499,625

 

24,887,304

 

Dilutive effect of employee stock options and unvested restricted stock

 

874,810

 

627,143

 

819,364

 

633,586

 

Dilutive effect of stock appreciation rights

 

13,334

 

17,366

 

14,731

 

18,609

 

Weighted average shares-diluted

 

26,540,682

 

25,614,309

 

26,333,720

 

25,539,499

 

Net income per share-basic

 

$

0.36

 

$

0.30

 

$

0.95

 

$

0.78

 

Net income per share-diluted

 

$

0.35

 

$

0.29

 

$

0.92

 

$

0.76

 

 

During the three and nine months ended December 31, 2013, options to purchase 28,613 and 100,408 shares of common stock, respectively, were excluded from the calculations of diluted earnings per share as their effect would have been anti-dilutive.

 

During the three and nine months ended December 31, 2012, options to purchase 435,161 and 496,686 shares of common stock, respectively, were excluded from the calculations of diluted earnings per share as their effect would have been anti-dilutive.

 

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.

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Other recent filings from the company include the following:

Virtusa Corporation director just picked up 1,000 shares - Nov. 20, 2014
Virtusa Corporation director just cashed-in 30,000 options - Nov. 20, 2014
Virtusa Corporation director just disposed of 5,250 shares - Nov. 17, 2014
Virtusa Corporation's EVP & Chief Financial Officer just disposed of 5,900 shares - Nov. 13, 2014
Virtusa Corporation's Chairman & CEO just disposed of 3,447 shares - Nov. 13, 2014

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