XML 15 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
1 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended
Aug. 01, 2015
Jul. 02, 2016
Apr. 02, 2016
Dec. 26, 2015
Sep. 26, 2015
Jun. 27, 2015
Mar. 28, 2015
Dec. 27, 2014
Sep. 27, 2014
Jul. 02, 2016
Jul. 02, 2016
Jun. 27, 2015
Jun. 28, 2014
Income Statement [Abstract]                          
Net revenue   $ 241.7 $ 230.4 $ 218.3 $ 212.6 $ 208.9 $ 198.7 $ 210.5 $ 219.0   $ 903.0 $ 837.1 $ 817.9
Cost of sales   160.5 165.9 148.5 144.0 143.4 139.7 141.7 146.8   618.9 571.6 552.3
Amortization of acquired technologies   1.7 1.7 1.7 1.7 1.9 1.9 1.9 1.9   6.8 7.6 9.0
Gross profit   79.5 62.8 68.1 66.9 63.6 57.1 66.9 70.3   277.3 257.9 256.6
Operating expenses:                          
Research and development   36.4 35.3 35.0 34.4 35.7 35.0 35.1 35.0   141.1 140.8 134.9
Selling, general and administrative   29.5 28.0 25.8 34.0 37.6 31.8 31.2 28.3   117.3 128.9 108.2
Restructuring and related charges   3.5 1.8 1.1 1.0 4.9 1.1 3.8 1.8   7.4 11.6 4.8
Total operating expenses   69.4 65.1 61.9 69.4 78.2 67.9 70.1 65.1   265.8 281.3 247.9
Income (loss) from operations   10.1 (2.3) 6.2 (2.5) (14.6) (10.8) (3.2) 5.2   11.5 (23.4) 8.7
Unrealized loss on derivative liabilities   4.4 (4.8) (2.4) 2.2 0.0 0.0 0.0 0.0   (0.6) 0.0 0.0
Interest and other income (expense), net   (0.1) (0.4) (0.5) (0.2) (0.3) (0.4) (0.1) (0.3)   (1.2) (1.1) 1.1
Income (loss) before income taxes   14.4 (7.5) 3.3 (0.5) (14.9) (11.2) (3.3) 4.9   9.7 (24.5) 9.8
Provision for (benefit from) income tax   0.1 0.1 0.5 (0.3) 0.9 (23.4) 0.8 0.6   0.4 (21.1) (0.9)
Net income (loss)   $ 14.3 $ (7.6) $ 2.8 $ (0.2) $ (15.8) $ 12.2 $ (4.1) $ 4.3   9.3 (3.4) 10.7
Cumulative dividends on Series A Preferred Stock                     (0.8) 0.0 0.0
Accretion of Series A Preferred Stock                     (11.7) 0.0 0.0
Net income (loss) attributable to common stockholders $ (11.7)                 $ 21.0 $ (3.2) $ (3.4) $ 10.7
Net income (loss) per share attributable to common stockholders                          
Basic (usd per share)   $ 0.24 $ (0.13) $ 0.05 $ 0.00 $ (0.27) $ 0.21 $ (0.07) $ 0.07   $ (0.05) [1] $ (0.06) [1] $ 0.18 [1]
Diluted (usd per share)   $ 0.23 $ (0.13) $ 0.05 $ 0.00 $ (0.27) $ 0.21 $ (0.07) $ 0.07   $ (0.05) [1] $ (0.06) [1] $ 0.18 [1]
Shares used in per share calculation attributable to common stockholders                          
Basic (in shares)   59.4 59.2 59.0 58.8 58.8 58.8 58.8 58.8   59.1 [1] 58.8 [1] 58.8 [1]
Diluted (in shares)   61.8 59.2 59.2 58.8 58.8 58.8 58.8 58.8   59.1 [1] 58.8 [1] 58.8 [1]
[1] On August 1, 2015, JDS Uniphase Corporation (“JDSU”) distributed 47.1 million shares, or 80.1% of the outstanding shares of common stock of Lumentum Holdings Inc. (“Lumentum”) to existing holders of JDSU common stock. JDSU was renamed Viavi Solutions Inc. (“Viavi”) and at the time of the distribution, retained 11.7 million shares, or 19.9% of Lumentum’s outstanding shares. Basic and diluted net income (loss) per share for all periods through June 27, 2015 is calculated using the shares of Lumentum common stock outstanding on August 1, 2015. Refer to "Note 4. Earnings Per Share" in the Notes to Consolidated Financial Statements.