Earnings Per Share

3 Months Ended

Sep. 28, 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
	September 28,		September 29,
	2013		2012
Numerator:
Income (loss) from continuing operations, net of tax	$	0.3	$	(9.8	)
Income (loss) from discontinued operations, net of tax	—		(1.8		)
Net income (loss)	$	0.3	$	(11.6	)
Denominator:
Weighted-average number of common shares outstanding:
Basic	235.3		232.8
Effect of dilutive securities from stock-based benefit plans	4.3		—
Diluted	239.6		232.8
Basic net income (loss) per share from:
Continuing operations	$	0.00	$	(0.04	)
Discontinued operations	—		(0.01		)
Net income (loss)	$	0.00	$	(0.05	)
Diluted net income (loss) per share from:
Continuing operations	$	0.00	$	(0.04	)
Discontinued operations	—		(0.01		)
Net income (loss)	$	0.00	$	(0.05	)

As the Company incurred a net loss for the three months ended September 29, 2012, potential dilutive securities from employee 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
	September 28,	September 29,
	2013 (1)	2012 (2)
Employee stock options and ESPP	1.5	8.5
RSUs	0.5	8.5
Total potentially dilutive securities	2.0	17.0

(1) The Company’s 0.625% 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 $18.83 per share is payable in cash, shares of the Company’s common stock or a combination of both.  Refer to “Note 10.  Debts and Letters of Credit” for more details.

(2) 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.  Refer to “Note 10.  Debts and Letters of Credit” for more details.