Net Income (Loss) Per Common Share

6 Months Ended

Jun. 26, 2011

Net Income (Loss) Per Common Share

Net Income (Loss) Per Common Share

Note 6. Net Income (Loss) Per Common Share

The Company calculates net income (loss) per share in accordance with ASC Topic 260, Earnings Per Share (“Topic 260”). Under Topic 260, basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted net income (loss) per common share reflects the effects of potentially dilutive securities.

Components of basic and diluted earnings per share were as follows:

	For the Three Months Ended					For the Six Months Ended
(In millions, except earnings per share)	June 27, 2010		June 26, 2011			June 27, 2010		June 26, 2011
Income (loss) from continuing operations available for common shareholders(A)	$	11.1	$	(5.3	)	$	10.7	$	(9.1	)
Weighted average outstanding shares of common stock(B)	16.0		23.8			16.0		22.6
Dilutive effect of employee stock options and awards	0.3		—			0.3		—
Dilutive effect of contingently issuable shares	0.1		—			0.1		—
Common stock and common stock equivalents(C)	16.4		23.8			16.4		22.6
Earnings (loss) per share:
Basic(A/B)	$	0.69	$	(0.22	)	$	0.67	$	(0.40	)
Diluted(A/C)	$	0.68	$	(0.22	)	$	0.65	$	(0.40	)

The following shares were excluded from the calculation of diluted income per share because their inclusion would have been anti-dilutive.

	For the Three Months Ended		For the Six Months Ended
(In millions)	June 27, 2010	June 26, 2011	June 27, 2010	June 26, 2011
Shares from stock options and awards	1.4	2.2	1.4	1.7
Shares of common stock from convertible debt	—	—	0.1	—