Net Income (Loss) Per Share

9 Months Ended

Apr. 27, 2013

Net Income (Loss) Per Share

5.  Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing the net loss for the period by the weighted-average number of common shares outstanding during the period less unvested restricted stock. Common equivalent shares are not used in the calculation of net loss per share because the effect would be antidilutive.

Employee stock options to purchase 6.4 million shares and 9.6 million shares have not been included in the computation of diluted net income (loss) per share for the two and eight month periods ended March 23, 2013, and employee stock options to purchase 10.7 million shares and 11.0 million shares have not been included in the computation of net loss per share for the three and nine month periods ended April 28, 2012, because in each case their effect would have been antidilutive for the periods presented. Upon effectiveness of the Dissolution, the Company cancelled all outstanding stock option awards under the Company’s stock plans.