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Stock-Based Compensation (Tables)
9 Months Ended
Mar. 31, 2013
Stock-Based Compensation  
Schedule of amounts of stock-based compensation expense recognized

 

Three Months Ended

 

Nine Months Ended

 

 

 

March 31,
2013

 

April 1,
2012

 

March 31,
2013

 

April 1,
2012

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

$

116

 

$

316

 

$

353

 

$

866

 

Restricted stock

 

977

 

1,040

 

3,044

 

2,870

 

Total

 

1,093

 

1,356

 

3,397

 

3,736

 

Deferred income tax benefit*

 

301

 

502

 

1,210

 

1,373

 

Stock-based compensation expense, net

 

$

792

 

$

854

 

$

2,187

 

$

2,363

 

 

*     Tax benefit during the three and nine months ended March 31, 2013, reflects the net impact of the expiration of non-qualified stock options.

Schedule of stock-based compensation expense recorded within operating expenses

 

Three Months Ended

 

Nine Months Ended

 

 

 

March 31,
2013

 

April 1,
2012

 

March 31,
2013

 

April 1,
2012

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

Marketing and sales

 

$

383

 

$

474

 

$

1,189

 

$

1,364

 

Technology and development

 

109

 

136

 

340

 

489

 

General and administrative

 

601

 

746

 

1,868

 

1,883

 

Total

 

$

1,093

 

$

1,356

 

$

3,397

 

$

3,736

 

Schedule of assumptions used to estimate the fair value of the stock options

Three Months Ended

 

Nine Months Ended

 

 

 

March 31,
2013 (1)

 

April 1,
2012

 

March 31,
2013

 

April 1,
2012

 

 

 

 

 

 

 

 

 

 

 

Weighted average fair value of options granted

 

n/a

 

$

2.01

 

$

2.40

 

$

1.84

 

Expected volatility

 

n/a

 

72.1

%

72.1

%

72.1

%

Expected life

 

n/a

 

8.0 yrs

 

6.4 yrs

 

8.0 yrs

 

Risk-free interest rate

 

n/a

 

0.90

%

0.69

%

0.90

%

Expected dividend yield

 

n/a

 

0.0

%

0.0

%

0.0

%

 

(1)         no options were granted during the three months ended March 31, 2013.

Summary of stock option activity

 

 

Options

 

Weighted
Average
Exercise
Price

 

Weighted
Average
Remaining
Contractual
Term

 

Aggregate
Intrinsic
Value (000s)

 

 

 

 

 

 

 

 

 

 

 

Outstanding at July 1, 2012

 

6,711,280

 

$

4.48

 

 

 

 

 

Granted

 

20,000

 

$

3.71

 

 

 

 

 

Exercised

 

(53,266

)

$

2.03

 

 

 

 

 

Forfeited

 

(1,782,093

)

$

6.23

 

 

 

 

 

Outstanding at March 31, 2013

 

4,855,921

 

$

3.85

 

5.3 years

 

$

8,653

 

 

 

 

 

 

 

 

 

 

 

Options vested at March 31, 2013

 

4,719,434

 

$

3.90

 

5.2 years

 

$

8,286

 

Exercisable at March 31, 2013

 

3,634,087

 

$

5.10

 

3.6 years

 

$

3,777

 

Summary of activity of non-vested restricted stock awards

 

Shares

 

Weighted
Average Grant
Date Fair
Value

 

 

 

 

 

 

 

Non-vested at July 1, 2012

 

3,855,320

 

$

2.37

 

Granted

 

1,668,490

 

$

3.55

 

Vested

 

(1,603,204

)

$

2.48

 

Forfeited

 

(442,431

)

$

3.21

 

Non-vested at March 31, 2013

 

3,478,378

 

$

2.78