Earnings Per Share

3 Months Ended

Sep. 29, 2012

Earnings Per Share

Earnings Per Share

Note 3. Earnings Per Share

The following table sets forth the computation of basic and diluted net loss per share (in millions, except per share data):

	Three Months Ended
	September 29,			October 1,
	2012			2011
Numerator:
Loss from continuing operations, net of tax	$	(9.8	)	$	(3.6	)
Loss from discontinued operations, net of tax	(1.8		)	(2.2		)
Net loss	$	(11.6	)	$	(5.8	)
Denominator:
Weighted-average number of common shares outstanding:
Basic and diluted	232.8			228.4
Loss from continuing operations, net of tax – basic and diluted	$	(0.04	)	$	(0.02	)
Loss from discontinued operations, net of tax – basic and diluted	(0.01		)	(0.01		)
Net loss per share – basic and diluted	$	(0.05	)	$	(0.03	)

As the Company incurred net losses for the three months ended September 29, 2012 and October 1, 2011, potential dilutive securities from stock options, employee stock purchase plan (“ESPP”), and Full Value Awards (restricted shares and stock units), have been excluded from the diluted net loss per share computations as their effects were deemed anti-dilutive.

The following table sets forth the weighted-average potentially dilutive securities excluded from the computation of the diluted (loss) income per share because their effect would have been anti-dilutive (in millions):

	Three Months Ended
	September 29,	October 1,
	2012	2011
Stock options and ESPP	8.5	11.0
Restricted stock units	8.5	7.4
Total potentially dilutive securities	17.0	18.4

The Company’s 1% Senior Convertible Notes are not included in the table above. The par amount of convertible notes is payable in cash equal to the principal amount of the notes plus any accrued and unpaid interest and then the “in-the-money” conversion benefit feature at the conversion price above $30.30 per share is payable in shares of the Company’s common stock or cash.  See “Note 10. Debts and Letters of Credit” for more details.