Stockholders' Equity

6 Months Ended

Jun. 24, 2012

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

On May 14, 2012, the Company sold 20.0 million shares of its common stock at a purchase price of $5.00 per share in an underwritten public offering. The Company received gross proceeds of $100.0 million. After deducting underwriting and other offering expenses, the Company received approximately $97.0 million in net proceeds. The Company used the net proceeds from this offering to fund a portion of the cash consideration paid to the stockholders of Composite Engineering, Inc. ("CEI") in connection with the Company's acquisition thereof on July 2, 2012.

On February 11, 2011, the Company sold approximately 4.9 million shares of its common stock at a purchase price of $13.25 per share in an underwritten public offering. The Company received gross proceeds of approximately $64.8 million. After deducting underwriting and other offering expenses, the Company received approximately $61.1 million in net proceeds.

A summary of the changes in stockholders’ equity is provided below (in millions):

	Six Months Ended			Six Months Ended
	June 26, 2011			June 24, 2012
Stockholders’ equity at beginning of period	$	169.9		$	312.6
Comprehensive income:
Net loss	(8.7		)	(20.2		)
Foreign currency translation	—			(0.2		)
Total comprehensive loss	(8.7		)	(20.4		)
Additional paid-in-capital from the issuance of common stock for cash	61.1			97.0
Stock-based compensation	1.4			2.3
Employee stock purchase plan and restricted stock units settled in cash	0.3			—
Exercise of stock options and warrants	1.1			—
Fair value of stock options assumed in acquisitions	1.9			—
Stockholders’ equity at end of period	$	227.0		$	391.5

In prior reporting periods, the Company had two classes of outstanding stock, Series B Convertible Preferred Stock and common stock. On March 8, 2011, all of the 10,000 shares of the previously issued and outstanding shares of Series B Convertible Preferred Stock were redeemed for 100,000 shares of common stock. Common stock issued by the Company for the six months ended June 26, 2011 and June 24, 2012 was as follows (in millions):

	Six Months Ended	Six Months Ended
	June 26, 2011	June 24, 2012
Shares outstanding at beginning of the period	18.6	32.4
Stock issued for employee stock purchase plan, stock options and restricted stock units exercised	0.3	0.1
Redemption of Series B Convertible Preferred Stock	0.1	—
Common stock issued for cash	4.9	20.0
Shares outstanding at end of the period	23.9	52.5