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SNIC » Topics » Note 9 - Earnings Per Share

This excerpt taken from the SNIC 10-K filed Feb 26, 2008.

Note 9 — Earnings Per Share

The following table sets forth the computation of basic and diluted income per share (in thousands, except per share data):

     
  Years Ended March 31,
     2005   2006   2007
     As Restated   As Restated  
Net Income   $ 2,747     $ 19,334     $ 6,250  
Shares:
                           
Weighted average shares outstanding (basic)     23,347       24,750       25,982  
Effect of dilutive common stock options
and RSUs		     1,605       1,484       1,449  
Weighted average shares outstanding (diluted)     24,952       26,234       27,431  
Net income per share:
                           
Basic   $ 0.12     $ 0.78     $ 0.24  
Diluted   $ 0.11     $ 0.74     $ 0.23  

For the years ended March 31, 2005, 2006 and 2007 outstanding options for 0.9 million, 1.7 million and, 3.6 million shares, respectively, were excluded from the calculation of diluted net income per share, as the inclusion of such shares would have had an anti-dilutive effect.

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