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Quarterly Financial Information (Unaudited) (Tables)
12 Months Ended
Jul. 02, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly consolidated statements
The following table presents the Company’s selected quarterly financial information from the Consolidated Statements of Operations for fiscal 2016 and 2015 (in millions, except per share data):
 
July 2, 2016
 
April 2, 2016
 
January 2, 2016
 
October 3, 2015
 
June 27, 2015
 
March 28, 2015
 
December 27, 2014
 
September 27, 2014
 
(1)
 
 
 
 
 
(2)
 
(2)
 
(2) (3)
 
(2)
 
(2)
Net revenue
$
224.1

 
$
220.4

 
$
232.1

 
$
229.7

 
$
219.8

 
$
212.4

 
$
226.4

 
$
215.3

Gross profit
136.1

 
131.3

 
141.8

 
140.5

 
131.1

 
127.0

 
133.1

 
128.9

Net (loss) income from continuing operations, net of tax
(64.5
)
 
28.8

 
1.0

 
(15.7
)
 
(32.1
)
 
(35.8
)
 
(37.7
)
 
(25.8
)
Net income (loss) from discontinued operations, net of tax
(3.4
)
 
5.0

 
3.0

 
(53.4
)
 
(8.0
)
 
22.6

 
12.6

 
16.1

Net income (loss)
$
(67.9
)
 
$
33.8

 
$
4.0

 
$
(69.1
)
 
$
(40.1
)
 
$
(13.2
)
 
$
(25.1
)
 
$
(9.7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income per share from - basic:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations (4)
$
(0.28
)
 
$
0.13

 
$
0.01

 
$
(0.07
)
 
$
(0.14
)
 
$
(0.16
)
 
$
(0.16
)
 
$
(0.11
)
Discontinued operations (4)
(0.01
)
 
0.02

 
0.01

 
(0.22
)
 
(0.03
)
 
0.10

 
0.05

 
0.07

Net (loss) income (4)
$
(0.29
)
 
$
0.15

 
$
0.02

 
$
(0.29
)
 
$
(0.17
)
 
$
(0.06
)
 
$
(0.11
)
 
$
(0.04
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income per share from - diluted:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations (4)
$
(0.28
)
 
$
0.12

 
$
0.01

 
$
(0.07
)
 
$
(0.14
)
 
$
(0.16
)
 
$
(0.16
)
 
$
(0.11
)
Discontinued operations (4)
(0.01
)
 
0.02

 
0.01

 
(0.22
)
 
(0.03
)
 
0.10

 
0.05

 
0.07

Net (loss) income (4)
$
(0.29
)
 
$
0.14

 
$
0.02

 
$
(0.29
)
 
$
(0.17
)
 
$
(0.06
)
 
$
(0.11
)
 
$
(0.04
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares used in per-share calculation (basic)
232.7

 
232.0

 
234.9

 
236.0

 
234.6

 
233.2

 
232.1

 
230.8

Shares used in per-share calculation (diluted)
232.7

 
234.6

 
237.1

 
236.0

 
234.6

 
233.2

 
232.1

 
230.8

(1)
During the fourth quarter of fiscal 2016, the Company recorded a $91.4 million goodwill impairment charge related to the SE reporting unit.
(2)
During the first quarter of fiscal 2016, we completed the Separation. As a result, the operations of the Lumentum business have been presented as discontinued operations in all periods of the Company’s Consolidated Statement of Operations.
(3)
During the third quarter of fiscal 2015, the Company recognized $21.8 million tax benefit recognized upon the settlement of an audit in a non-U.S. jurisdiction.
(4)
Net (loss) income per share is computed independently for each of the fiscal quarters presented. Therefore, the sum of the quarterly basic and diluted net (loss) income per share amounts may not equal the annual basic and diluted net (loss) income per share amount for the full fiscal years.