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Equity Compensation (Tables)
12 Months Ended
Mar. 30, 2013
Equity Compensation [Abstract]  
Summary Of Effect Of Stock-Based Compensation On Cost Of Goods Sold

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Years Ended

 

 

March 30, 2013

 

 

March 31, 2012

 

 

March 26, 2011

Cost of sales

$

751 

 

$

398 

 

$

243 

Research and development

 

10,549 

 

 

5,590 

 

 

2,641 

Sales, general and administrative

 

10,195 

 

 

6,190 

 

 

5,257 

Effect on pre-tax income

 

21,495 

 

 

12,178 

 

 

8,141 

Income Tax Benefit

 

(106)

 

 

 -

 

 

 -

Total share-based compensation expense (net of taxes)

 

21,389 

 

 

12,178 

 

 

8,141 

Share-based compensation effects on basic earnings per share

$

0.33 

 

$

0.19 

 

$

0.12 

Share-based compensation effects on diluted earnings per share

 

0.32 

 

 

0.18 

 

 

0.11 

Share-based compensation effects on operating activities cash flow

 

21,389 

 

 

12,178 

 

 

8,141 

Share-based compensation effects on financing activities cash flow

 

106 

 

 

 -

 

 

 -

 

Summary Of Activity In Total Stock Available for Grant

 

 

 

 

 

 

 

 

Shares

 

 

Available for

 

 

Grant

Balance, March 27, 2010

 

9,930 

Plans terminated

 

(300)

Granted

 

(1,927)

Forfeited

 

472 

Balance, March 26, 2011

 

8,175 

Plans terminated

 

(34)

Granted

 

(2,049)

Forfeited

 

165 

Balance, March 31, 2012

 

6,257 

Plans terminated

 

 -

Granted

 

(1,600)

Forfeited

 

468 

Balance, March 30, 2013

 

5,125 

 

Schedule Of Fair Value Of Stock Option Grants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

March 30, 2013

(a)

 

March 31, 2012

 

 

March 26, 2011

 

Expected stock price volatility

 

63.42

%

 

59.25 - 66.11

%

 

52.03 - 67.11

%

Risk-free interest rate

 

0.31

%

 

0.27 - 1.43

%

 

1.19 - 2.06

%

Expected term (in years)

 

2.46

 

 

2.32 - 3.82

 

 

3.83 - 4.34

 

   

(a)

 Actual assumptions at time of share issuance used.

Schedule Of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding Options

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

Number

 

 

Exercise Price

Balance, March 27, 2010

 

10,379 

 

$

6.74 

Options granted

 

977 

 

 

16.75 

Options exercised

 

(4,718)

 

 

6.57 

Options forfeited

 

(153)

 

 

5.90 

Options expired

 

(304)

 

 

23.68 

Balance, March 26, 2011

 

6,181 

 

$

7.63 

Options granted

 

450 

 

 

15.63 

Options exercised

 

(593)

 

 

6.88 

Options forfeited

 

(67)

 

 

7.70 

Options expired

 

(67)

 

 

15.68 

Balance, March 31, 2012

 

5,904 

 

$

8.23 

Options granted

 

264 

 

 

37.22 

Options exercised

 

(1,746)

 

 

6.88 

Options forfeited

 

(144)

 

 

12.52 

Options expired

 

 -

 

 

20.25 

Balance, March 30, 2013

 

4,278 

 

$

10.42 

 

Summary Of Outstanding Options Vesting, Expected To Vest, Or Exercisable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

Weighted Average

 

 

 

 

 

Number of

 

 

Average

 

Remaining Contractual

 

 

Aggregate

 

 

Options

 

 

Exercise price

 

Term (years)

 

 

Intrinsic Value

Vested and expected to vest

 

4,196 

 

$

10.15 

 

6.07 

 

$

56,376 

Exercisable

 

3,217 

 

$

7.76 

 

5.51 

 

$

48,228 

 

Summary Of Outstanding And Exercisable Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

Weighted

 

 

 

Weighted

 

 

 

 

Contractual Life

 

Average Exercise

 

Number

 

Average

Range of Exercise Prices

 

Number

 

(years)

 

Price

 

Exercisable

 

Exercise Price

$2.59 - $5.25

 

764 

 

4.78 

 

$

5.05 

 

754 

 

$

5.05 

$5.49 - $5.53

 

58 

 

6.39 

 

 

5.50 

 

44 

 

 

5.50 

$5.55 - $5.55

 

1,217 

 

6.48 

 

 

5.55 

 

961 

 

 

5.55 

$5.66 - $7.87

 

891 

 

4.10 

 

 

7.05 

 

873 

 

 

7.05 

$8.06 - $16.25

 

874 

 

7.72 

 

 

15.18 

 

434 

 

 

14.90 

$16.28 - $38.99

 

474 

 

8.11 

 

 

29.79 

 

151 

 

 

19.60 

 

 

4,278 

 

6.11 

 

$

10.42 

 

3,217 

 

$

7.76 

 

Summary Of Restricted Stock Award Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

 

 

Grant Date

Aggregate

 

Number of

 

 

Fair Value

Intrinsic 

 

Shares

 

 

(per share)

value (1)

March 27, 2010

49 

 

$

6.20 

 

Granted

 

 

17.28 

 

Vested

(7)

 

 

7.35 
134 

Forfeited

(2)

 

 

7.35 

 

March 26, 2011

45 

 

 

7.21 

 

Granted

49 

 

 

15.31 

 

Vested

(54)

 

 

14.57 
826 

Forfeited

    -

 

 

    -

 

March 31, 2012

40 

 

 

7.19 

 

Granted

27 

 

 

28.24 

 

Vested

(62)

 

 

15.45 
1,657 

Forfeited

 -

 

 

 -

 

March 30, 2013

 

$

17.28 

 

 

(1)

Represents the value of Cirrus stock on the date that the restricted stock vested.

 

Summary Of Restricted Stock Unit Activity

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

Weighted

Remaining

 

 

 

 

Average

Contractual Term

 

Shares

 

 

Fair Value

(years)

March 27, 2010

 -

 

$

 -

 

Granted

628 

 

 

16.41 

 

Vested

 -

 

 

 -

 

Forfeited

(8)

 

 

16.25 

 

March 26, 2011

620 

 

 

16.41 

2.54

Granted

1,017 

 

 

16.59 

 

Vested

 -

 

 

 -

 

Forfeited

(21)

 

 

16.04 

 

March 31, 2012

1,616 

 

 

16.52 

1.94

Granted

864 

 

 

37.26 

 

Vested

(193)

 

 

20.56 

 

Forfeited

(216)

 

 

21.46 

 

March 30, 2013

2,071 

 

$

23.66 

1.57

 

Summary Of Restricted Stock Units Vesting Or Expected To Vest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

Weighted Average

 

 

 

 

 

Average

 

Remaining Contractual

 

 

Shares

 

 

Fair Value

 

Term (years)

Vested and expected to vest

 

1,888

 

$

23.66

 

1.53