NET INCOME (LOSS) PER SHARE

9 Months Ended

Apr. 01, 2017

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is computed using only the weighted-average number of shares of common stock outstanding for the applicable period, while diluted net income (loss) per share is computed assuming conversion of all potentially dilutive securities, such as stock options, unvested restricted stock units and awards, warrants and convertible notes during such period.

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

	Three Months Ended				Nine Months Ended
	April 1, 2017		March 26, 2016		April 1, 2017		March 26, 2016
	(Thousands, except per share amounts)
Net income (loss)	$	38,214	$	89	$	71,832	$	(3,264	)
Weighted-average shares - Basic	166,808		110,882		155,037		110,212
Effect of dilutive potential common shares from:
Stock options and stock appreciation rights	651		280		712		—
Restricted stock units and awards	2,382		2,537		2,484		—
Convertible notes	—		—		5,004		—
Weighted-average shares - Diluted	169,841		113,699		163,237		110,212
Basic net income (loss) per share	$	0.23	$	0.00	$	0.46	$	(0.03	)
Diluted net income (loss) per share	$	0.22	$	0.00	$	0.44	$	(0.03	)

For the three and nine months ended April 1, 2017, we excluded 0.6 million and 0.8 million, respectively, of outstanding stock options, stock appreciation rights and unvested restricted stock awards from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive.

For the three and nine months ended March 26, 2016, we excluded 35.5 million and 38.3 million, respectively, of outstanding stock options, stock appreciation rights, unvested restricted stock awards and shares issuable in connection with convertible notes from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive.