Net Income Per Common Share from Continuing Operations

9 Months Ended

Mar. 31, 2013

Net Income Per Common Share from Continuing Operations

Net Income Per Common Share from Continuing Operations

Note 2 — Net Income Per Common Share from Continuing Operations

The following table sets forth the computation of basic and diluted net income per common share from continuing operations:

	Three Months Ended				Nine Months Ended
	March 31,  2013		April 1, 2012		March 31,  2013		April 1, 2012
	(in thousands, except per share data)
Numerator:
Income from continuing operations	$	2,638	$	51	$	14,043	$	11,494
Denominator:
Weighted average shares outstanding	64,256		64,988		64,528		64,683
Effect of dilutive securities:
Employee stock options (1)	769		65		610		20
Employee restricted stock awards	1,086		1,246		1,509		1,554
	1,855		1,311		2,119		1,574
Adjusted weighted-average shares and assumed conversions	66,111		66,299		66,647		66,257
Net income per common share from continuing operations
Basic	$	0.04	$	0.00	$	0.22	$	0.18
Diluted	$	0.04	$	0.00	$	0.21	$	0.17

Basic net income per common share from continuing operations is computed using the weighted average number of common shares outstanding during the period. Diluted net income from continuing operations per share is computed using the weighted-average number of common and dilutive common equivalent shares (consisting of employee stock options and unvested restricted stock awards) outstanding during the period.

(1) The effect of options to purchase 1.8 million and 3.2 million shares during the three and nine months ended March 31, 2013 and 5.5 million and 5.6 million shares during the three and nine months ended April 1, 2012, respectively, were excluded from the calculation of net income per share on a diluted basis as their effect is anti-dilutive.