Share-based Compensation (Tables)

9 Months Ended

Mar. 31, 2014

Share-based Compensation

Schedule of weighted average assumptions used to estimate fair values of the stock options granted and the estimated annual forfeiture rates used to recognize the associated compensation expense

	Stock Options FY 2014		Stock Options FY 2013
Risk-free interest rate	2.1	%	1.0	%
Expected volatility	62.9	%	61.5	%
Expected dividend yield	0.0	%	0.0	%
Forfeiture rate	7.5	%	7.5	%
Expected term (in years)	5.9 years		6.1 years
Weighted average fair value	$8.14		$2.36

Summary of stock option award activity

(In thousands, except for weighted average price and life data)	Awards		Weighted- Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (yrs.)
Outstanding at July 1, 2013	2,319		$	5.71
Granted	770		$	13.97
Exercised	(718	)	$	6.15	$	22,373
Forfeited, expired or repurchased	(105	)	$	16.27
Outstanding at March 31, 2014	2,266		$	7.89	$	63,070	7.5
Vested and expected to vest at March 31, 2014	2,152		$	7.73	$	60,234	7.4
Exercisable at March 31, 2014	902		$	5.27	$	27,464	5.5

Summary of nonvested restricted stock awards

(In thousands)	Awards		Weighted Average Grant - date Fair Value		Aggregate Intrinsic Value
Non-vested at July 1, 2013	—		—
Granted	245		23.03
Vested	(63	)	18.79		$	1,175
Forfeited	—		—
Non-vested at March 31, 2014	182		$	24.48

Schedule of allocation of share-based compensation costs recognized in the Consolidated Statements of Operations by financial statement line item

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
(In thousands)	2014		2013		2014		2013
Selling, general and administrative	$	2,240	$	200	$	4,763	$	975
Research and development	225		23		443		75
Cost of sales	324		29		627		142
Total	2,789		252		5,833		1,192
Tax benefit at statutory rate	$	1,053	$	42	$	2,160	$	99