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Selected Quarterly Consolidated Financial Data (Unaudited) (Tables)
12 Months Ended
Jul. 01, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Consolidated Financial Data
The following tables set forth our unaudited condensed consolidated statements of operations data for each of the eight quarterly periods ended July 1, 2017. We have prepared this unaudited information on a basis consistent with our audited consolidated financial statements, reflecting all normal recurring adjustments that we consider necessary for a fair presentation of our financial position and operating results for the fiscal quarters presented. Basic and diluted net income (loss) per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted net income (loss) per share.
 
Quarter Ended
 
July 1,
2017
 
April 1,
2017
 
December 31,
2016
 
October 1,
2016
 
(Thousands)
Revenues
$
149,380

 
$
162,182

 
$
153,914

 
$
135,492

Cost of revenues
88,049

 
95,394

 
93,150

 
89,136

Gross profit
61,331

 
66,788

 
60,764

 
46,356

Operating expenses
31,444

 
29,048

 
27,362

 
28,417

Other income (expense), net
30

 
1,095

 
(3,098
)
 
(14,182
)
Income before income taxes
29,917

 
38,835

 
30,304

 
3,757

Income tax (benefit) provision
(26,110
)
 
621

 
37

 
406

Net income
$
56,027

 
$
38,214

 
$
30,267

 
$
3,351

Net income per share:
 
 
 
 
 
 
 
Basic
$
0.33

 
$
0.23

 
$
0.18

 
$
0.03

Diluted
$
0.33

 
$
0.22

 
$
0.18

 
$
0.02

Shares used in computing net income per share:
 
 
 
 
 
 
 
Basic
167,349

 
166,808

 
165,822

 
132,480

Diluted
170,204

 
169,841

 
168,856

 
135,529


 
Quarter Ended
 
July 2,
2016
 
March 26,
2016
 
December 26,
2015
 
September 26,
2015
 
(Thousands)
Revenues
$
125,185

 
$
101,050

 
$
94,129

 
$
87,550

Cost of revenues
85,008

 
74,114

 
67,521

 
64,853

Gross profit
40,177

 
26,936

 
26,608

 
22,697

Operating expenses
27,374

 
24,477

 
24,076

 
24,649

Other income (expense), net
(2,470
)
 
(1,894
)
 
(1,390
)
 
(659
)
Income (loss) before income taxes
10,333

 
565

 
1,142

 
(2,611
)
Income tax (benefit) provision
(1,511
)
 
476

 
985

 
899

Net income (loss)
$
11,844

 
$
89

 
$
157

 
$
(3,510
)
Net income (loss) per share:
 
 
 
 
 
 
 
Basic
$
0.11

 
$

 
$

 
$
(0.03
)
Diluted (1)
$
0.09

 
$

 
$

 
$
(0.03
)
Shares used in computing net income (loss) per share:
 
 
 
 
 
 
 
Basic
111,678

 
110,882

 
110,296

 
109,458

Diluted
147,649

 
113,699

 
112,394

 
109,458


(1) The numerator for the fourth quarter of fiscal year 2016 diluted earnings per share calculation includes an add back of approximately $1.2 million of interest costs related to our 6.00% Notes. The denominator for the fourth quarter of fiscal year 2016 diluted earnings per share calculation includes 33.3 million shares related to our 6.00% Notes.