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Stock-Based Compensation and Employee Benefit Plans (Tables)
12 Months Ended
Jun. 26, 2011
Compensation and Retirement Disclosure [Abstract]  
Stock Option Activity
The following table summarizes the stock option activity for the fiscal years ended June 26, 2011, June 27, 2010, and June 28, 2009 (in thousands, except per share price data):
 
   
Stock Option
Shares
  
Weighted
Average Option
Exercise Price
per Share
  
Weighted
Average Grant
Date Fair Value
per Share
  
Aggregate
Intrinsic Value
 
Outstanding, June 29, 2008
  9,360  $40.43     $2,568 
Granted
  3,151  $15.16  $6.38     
Exercised
  (224) $13.47      $411 
Expired or forfeited
  (4,039) $42.71         
Outstanding, June 28, 2009
  8,248  $30.40      $3,738 
Granted
  268  $19.03  $6.11     
Exercised
  (351) $16.02      $1,674 
Expired or forfeited
  (2,380) $37.31         
Outstanding, June 27, 2010
  5,785  $27.88      $13,946 
Granted
  31  $23.42  $6.66     
Exercised
  (791) $14.42      $11,153 
Expired or forfeited
  (2,033) $42.75         
Outstanding, June 26, 2011
  2,992   $21.30      $22,154
Restricted Stock Unit Activity
The following table summarizes the RSU activity for the fiscal years ended June 26, 2011, June 27, 2010, and June 28, 2009 (in thousands, except per share price data):

   
Restricted Stock
Units
  
Weighted Average
 Grant Date
Fair Value Per Share
  
Aggregate
Intrinsic Value
 
Outstanding, June 29, 2008
  1  $48.10  $13 
Granted
  446  $17.39     
Vested
  (92) $12.06  $1,111 
Expired or forfeited
           
Outstanding, June 28, 2009
  355  $17.84  $5,215 
Granted
  203  $19.26     
Vested
  (101) $19.38  $1,960 
Expired or forfeited
  (5)        
Outstanding, June 27, 2010
  452  $18.49  $9,113 
Granted
  1,984  $21.37     
Vested
  (342) $18.73  $9,719 
Expired or forfeited
  (43)        
Outstanding, June 26, 2011
  2,051   $21.22  $53,501
Summary of Stock Options By Exercise Price Range
The following table summarizes the stock options outstanding at June 26, 2011, and the related weighted average price and life information (in thousands, except year and price data):
 
   
June 26, 2011
   
Outstanding
 
Exercisable
Range of Exercise Price per Share
  
Number Outstanding
  
Weighted Average Remaining Life (Years)
  
Weighted Average Exercise Price
 
Aggregate Intrinsic Value
 
 
Number Exercisable
  
Weighted Average Remaining Life (Years)
  
Weighted Average Exercise Price
 
Aggregate Intrinsic Value
 
$           0.0 to $12.95   854   2.81  $12.83     473   2.80  $12.81  
$13.56 to $18.35   143   2.83   14.38     83   2.63   13.81  
$18.55 to $18.55   966   2.11   18.55     508   2.11   18.55  
$18.62 to $43.00   1,029   1.26   31.86     841   0.80   34.57  
     2,992   2.05  $21.30 
$22,154
  1,905   1.72  $23.99 
$11,769

Additional Information Relating to Stock Options and RSU's
Additional information relating to the stock-based compensation plans, including employee stock options and RSUs, at June 26, 2011, June 27, 2010, and June 28, 2009, is as follows (in thousands):

   
2011
  
2010
  
2009
 
Outstanding options exercisable
  1,905   3,719   5,179 
Options and RSUs available for grant
  510   3,291   2,408 
Total reserved common stock shares for stock option plans
  5,553   9,528   11,011 
 
Forfeitures are estimated at the time of grant. Based on the Company’s historical exercise and termination data, a five percent forfeiture rate is assumed for the majority of the options.
Stock-Based Compensation Expense
For the fiscal years ended June 26, 2011, June 27, 2010, and June 28, 2009, stock-based compensation expense associated with the Company’s stock options and RSUs, is as follows (in thousands):
 
   
2011
  
2010
  
2009
 
Selling, general and administrative expense
 $9,245  $7,906  $5,182 
Research and development expense
  3,115   1,642   1,773 
Cost of sales
  3,254    1,871    450  
Total stock-based compensation expense
 $15,614   $11,419   $7,405  
Stock Options Valuation Assumptions
The fair value of the stock options associated with the above compensation expense for the fiscal years ended June 26, 2011, June 27, 2010, and June 28, 2009, respectively, was determined at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:
 
   
2011
  
2010
  
2009
 
Expected life
 
3.5 years
  
3.6 years
  
3.8 years
 
Risk free interest rate
  0.84%  1.31%  1.99%
Volatility
  38.34%  40.07%  55.25%
Dividend yield
  0.00%  0.00%  0.00%