v2.4.0.6
NET INCOME PER SHARE
 6 Months Ended
Dec. 23, 2012
NET INCOME PER SHARE

NOTE 11 — NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the treasury stock method, for dilutive stock options, RSUs, and convertible notes. The following table reconciles the numerators and denominators of the basic and diluted computations for net income per share.

 

     Three Months Ended      Six Months Ended  
     December 23,      December 25,      December 23,      December 25,  
     2012      2011      2012      2011  
     (in thousands, except per share data)  

Numerator:

            

Net income

    $ 6,408       $ 33,212       $ 9,176       $ 105,050   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

            

Basic average shares outstanding

      170,699         119,739         175,314         121,435   

Effect of potential dilutive securities:

            

Employee stock plans

      2,328         1,134         2,176         947   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted average shares outstanding

      173,027         120,873         177,490         122,382   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share—basic

    $ 0.04       $ 0.28       $ 0.05       $ 0.87   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share—diluted

    $ 0.04       $ 0.27       $ 0.05       $ 0.86   
  

 

 

     

 

 

     

 

 

     

 

 

  

For purposes of computing diluted net income per share, weighted-average common shares do not include potentially dilutive securities that are anti-dilutive under the treasury stock method. The following potentially dilutive securities were excluded:

 

     Three Months Ended      Six Months Ended  
     December 23,      December 25,      December 23,      December 25,  
     2012      2011      2012      2011  
     (in thousands)  

Number of potential dilutive securities excluded

      1,543         90         1,551         841   
  

 

 

     

 

 

     

 

 

     

 

 

  

In addition to the above, diluted shares outstanding do not include any effect resulting from warrants, assumed conversion of the Notes, or note hedges (as described in Note 13) as their impact would have been anti-dilutive.