Income (Loss) Per Share

6 Months Ended

Jun. 27, 2015

Basic income (loss) per share is computed based upon the weighted average number of common shares outstanding for the period. When applicable, diluted income (loss) per share is calculated using two approaches. The first approach, the treasury stock method, reflects the potential dilution that could occur if the stock options, RSUs and, PSUs (collectively with the stock options and RSUs, the "Equity Awards") to issue common stock were exercised. The second approach, the if converted method, reflects the potential dilution of the Equity Awards and the senior exchangeable notes due 2017 (the "7% Notes") being exchanged for common stock. Under this method, interest expense associated with the 7% Notes, net of tax, is added back to income from continuing operations and the shares outstanding are increased by the underlying 7% Notes equivalent.

For the six months ended June 27, 2015, and June 28, 2014, the effect of approximately 20.1 million and 21.0 million shares, respectively, related to the exchange of the 7% Notes for common stock and the issuance of common stock upon exercise of the Equity Awards, were excluded from the calculation of diluted income (loss) per share, as the effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted income (loss) per share for the three and six months ended June 27, 2015, and June 28, 2014 (in thousands, except per share data):



	For the Three Months Ended						For the Six Months Ended
	June 27, 2015			June 28, 2014			June 27, 2015			June 28, 2014
Numerator for basic and diluted (loss) income per share:
Loss from continuing operations	$	(2,419	)	$	(39,301	)	$	(10,066	)	$	(56,088	)
Income (loss) from discontinued operations, net of taxes	14			664			(18		)	1,617
Net loss	$	(2,405	)	$	(38,637	)	$	(10,084	)	$	(54,471	)
Denominator for weighted average common shares outstanding:
Basic shares	67,831			66,496			67,789			66,416
Dilutive effect of 7% Notes	—			—			—			—
Dilutive effect of Equity Awards	—			—			—			—
Diluted shares	67,831			66,496			67,789			66,416

(Loss) income per share – basic:
Continuing operations	$	(0.04	)	$	(0.59	)	$	(0.15	)	$	(0.84	)
Discontinued operations	—			0.01			—			0.02
Net loss	$	(0.04	)	$	(0.58	)	$	(0.15	)	$	(0.82	)

(Loss) income per share – diluted:
Continuing operations	$	(0.04	)	$	(0.59	)	$	(0.15	)	$	(0.84	)
Discontinued operations	—			0.01			—			0.02
Net loss	$	(0.04	)	$	(0.58	)	$	(0.15	)	$	(0.82	)