Net Income (Loss) Per Share

12 Months Ended

May 03, 2015

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Basic net income (loss) per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from stock options and restricted stock units (under the treasury stock method), 5.0% Convertible Senior Notes due 2029 (on an as-if-converted basis), and 0.50% Convertible Senior Notes due 2033 (under the treasury stock method) outstanding during the period.

The following table presents the calculation of basic and diluted net income (loss) per share:

	Fiscal Years Ended
(in thousands, except per share amounts)	May 3, 2015		April 27, 2014		April 28, 2013
Numerator:
Net income (loss) attributable to Finisar Corporation	$	11,887	$	111,787	$	(5,454	)
Numerator for basic income (loss) per share	$	11,887	$	111,787	$	(5,454	)
Effect of dilutive securities:
Interest expense on 5.0% Convertible Senior Notes due 2029	—		2,157		—
Numerator for diluted income (loss) per share	$	11,887	$	113,944	$	(5,454	)
Denominator:
Denominator for basic income (loss) per share - weighted average shares	101,408		95,979		92,860
Effect of dilutive securities:
Stock options and restricted stock units	3,562		4,385		—
5.0% Convertible Senior Notes due 2029	—		3,748		—
Dilutive potential common shares	3,562		8,133		—
Denominator for diluted income (loss) per share	104,970		104,112		92,860
Net income (loss) per share attributable to Finisar Corporation common stockholders:
Basic	$	0.12	$	1.16	$	(0.06	)
Diluted	$	0.11	$	1.09	$	(0.06	)

The following table presents common shares related to potentially dilutive securities excluded from the calculation of diluted net income (loss) per share as their effect would have been anti-dilutive:

	Fiscal Years Ended
(in thousands)	May 3, 2015	April 27, 2014	April 28, 2013
Stock options and restricted stock units	880	1,057	4,599
Conversion of 5.0% Convertible Senior Notes due 2029	—	—	3,748
Conversion of 0.50% Convertible Senior Notes due 2033 (1)	—	—	n/a
	880	1,057	8,347

(1) 0.50% Convertible Senior Notes due 2033 were excluded from the calculation of diluted earnings per share under the treasury stock method since the conversion price exceeded the average market price for the Company's common stock.