Earnings Per Share

9 Months Ended

Mar. 30, 2013

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						Nine Months Ended
	March 30,			March 31,			March 30,			March 31,
	2013			2012			2013			2012
Numerator:
Loss from continuing operations, net of tax	$	(28.0	)	$	(16.2	)	$	(34.5	)	$	(27.5	)
Loss from discontinued operations, net of tax	—			(1.2		)	(1.0		)	(5.9		)
Net loss	$	(28.0	)	$	(17.4	)	$	(35.5	)	$	(33.4	)
Denominator:
Weighted-average number of common shares outstanding
Basic and diluted	235.9			230.6			234.4			229.5
Basic and diluted net loss per share from:
Continuing operations, net of tax	$	(0.12	)	$	(0.07	)	$	(0.15	)	$	(0.12	)
Discontinued operations, net of tax	—			(0.01		)	—			(0.03		)
Net loss	$	(0.12	)	$	(0.08	)	$	(0.15	)	$	(0.15	)

As the Company incurred net losses for the three and nine months ended March 30, 2013 and March 31, 2012, potential dilutive securities from stock options, employee stock purchase plan (“ESPP”) and Restricted Stock Units (“RSUs”) 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 net loss per share because their effect would have been anti-dilutive (in millions):

	Three Months Ended		Nine Months Ended
	March 30,	March 31,	March 30,	March 31,
	2013	2012	2013	2012
Stock options and ESPP	7.1	9.7	7.9	10.3
RSUs	9.5	7.7	9.3	7.8
Total potentially dilutive securities	16.6	17.4	17.2	18.1

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.