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Stock Based Compensation (Tables)
12 Months Ended
Jun. 30, 2013
Stock Based Compensation  
Schedule of amounts of stock-based compensation expense recognized

 

 

 

 

Years Ended

 

 

 

June 30,
2013

 

July 1,
2012

 

July 3,
2011

 

 

 

(in thousands, except per share data)

 

 

 

 

 

 

 

 

 

Stock options

 

$

477

 

$

1,073

 

$

1,181

 

Restricted stock awards

 

3,806

 

3,777

 

2,780

 

Total

 

4,283

 

4,850

 

3,961

 

Deferred income tax benefit

 

1,555

 

1,796

 

1,381

 

Stock-based compensation expense, net

 

$

2,728

 

$

3,054

 

$

2,580

 

Schedule of stock-based compensation expense recorded within operating expenses

 

 

 

 

Years Ended

 

 

 

June 30,
2013

 

July 1,
2012

 

July 3,
2011

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

Marketing and sales

 

$

1,499

 

$

1,755

 

$

1,587

 

Technology and development

 

428

 

600

 

791

 

General and administrative

 

2,356

 

2,495

 

1,583

 

Total

 

$

4,283

 

$

4,850

 

$

3,961

 

Schedule of assumptions used to estimate the fair value of the stock options

 

 

 

 

Years ended

 

 

 

June 30,
2013

 

July 1,
2012

 

July 3,
2011

 

 

 

 

 

 

 

 

 

Weighted average fair value of options granted

 

$

2.95

 

$

1.84

 

$

1.23

 

Expected volatility

 

72

%

72

%

68

%

Expected life (in years)

 

6.4

 

8.0

 

7.5

 

Risk-free interest rate

 

0.7

%

0.9

%

1.3

%

Expected dividend yield

 

0.0

%

0.0

%

0.0

%

Summary of stock option activity

The following table summarizes stock option activity during the year ended June 30, 2013:

 

 

 

Options

 

Weighted
Average
Exercise
Price

 

Weighted
Average
Remaining
Contractual
Term

 

Aggregate
Intrinsic
Value (000s)

 

 

 

 

 

 

 

 

 

 

 

Outstanding beginning of period

 

6,711,280

 

$

4.48

 

 

 

 

 

Granted

 

35,000

 

$

4.55

 

 

 

 

 

Exercised

 

(191,947

)

$

2.36

 

 

 

 

 

Forfeited/Expired

 

(1,831,093

)

$

6.23

 

 

 

 

 

Outstanding end of period

 

4,723,240

 

$

3.89

 

5.1 years

 

$

12,536

 

 

 

 

 

 

 

 

 

 

 

Options vested or expected to vest at end of period

 

4,572,098

 

$

3.94

 

4.9 years

 

$

11,950

 

Exercisable at June 30, 2013

 

2,917,540

 

$

4.88

 

3.4 years

 

$

5,508

 

Summary of information about stock options outstanding and exercisable, by exercise price range

The following table summarizes information about stock options outstanding at June 30, 2013:

 

 

 

Options Outstanding

 

Options Exercisable

 

Exercise Price

 

Options
Outstanding

 

Weighted-
Average
Remaining
Contractual Life

 

Weighted-
Average
Exercise
Price

 

Options
Exercisable

 

Weighted-
Average
Exercise
Price

 

$1.69 – 1.79

 

1,080,500

 

7.3 years

 

$

1.79

 

257,000

 

$

1.79

 

$2.01 – 2.63

 

1,078,400

 

8.2 years

 

$

2.62

 

177,300

 

$

2.62

 

$2.77 – 3.11

 

1,193,753

 

3.1 years

 

$

3.09

 

1,156,153

 

$

3.09

 

$3.26 – 6.52

 

645,234

 

3.1 years

 

$

6.09

 

601,734

 

$

6.09

 

$6.90 – 11.81

 

725,353

 

2.1 years

 

$

8.28

 

725,353

 

$

8.28

 

 

 

4,723,240

 

5.1 years

 

$

3.89

 

2,917,540

 

$

4.88

 

Summary of activity of non-vested restricted stock awards

The following table summarizes the activity of non-vested restricted stock during the year ended June 30, 2013:

 

 

 

Shares

 

Weighted
Average
Grant Date
Fair Value

 

 

 

 

 

 

 

Non-vested — beginning of period

 

3,855,320

 

$

2.37

 

Granted

 

1,668,490

 

$

3.55

 

Vested

 

(1,610,271

)

$

2.48

 

Forfeited

 

(480,184

)

$

3.06

 

Non-vested - end of period

 

3,433,355

 

$

2.80