Net Income per Share

6 Months Ended

Oct. 30, 2011

Net Income per Share [Abstract]

Net Income Per Share [Text Block]

Net Income per Share

     Basic net income per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from options, restricted stock units and warrants (under the treasury stock method) and convertible notes (on an as-if-converted basis) outstanding during the period.

The following table presents the calculation of basic and diluted net income per share (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	October 30, 2011		October 31, 2010		October 30, 2011		October 31, 2010
Numerator:
Net income attributable to Finisar Corporation	$	5,927	$	33,796	$	16,069	$	52,922
Numerator for basic net income per share	$	5,927	$	33,796	$	16,069	$	52,922
Effect of dilutive securities:
Convertible debt interest expense	—		1,373		—		2,743
Numerator for diluted net income per share	$	5,927	$	35,169	$	16,069	$	55,665
Denominator:
Denominator for basic net income per share - weighted average shares	90,715		76,766		90,470		76,433
Effect of dilutive securities:
Employee stock options and restricted stock units	2,848		3,248		3,206		3,061
Warrants	36		36		36		36
Convertible debt	—		9,471		—		9,483
Dilutive potential common shares	2,884		12,755		3,242		12,580
Denominator for diluted net income per share	93,599		89,521		93,712		89,013
Net income per share attributable to Finisar Corporation common stockholders:
Basic	$	0.07	$	0.44	$	0.18	$	0.69
Diluted	$	0.06	$	0.39	$	0.17	$	0.63

The following table presents potentially dilutive securities excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive (in thousands):

	Three Months Ended		Six Months Ended
	October 30, 2011	October 31, 2010	October 30, 2011	October 31, 2010
Common shares issuable upon:
Exercise of employee stock options	1,263	2,181	1,273	2,232
Conversion of convertible subordinated notes	3,748	—	3,748	—
	5,011	2,181	5,021	2,232