Net Income per Common Share

12 Months Ended

Jun. 24, 2012

Net income (loss) per common share [Abstract]

Net Income per Common Share

10. Net Income per Common Share

The table below provides a reconciliation of the numerator and denominator for the basic and diluted per-share computations for fiscal years ended June 24, 2012, June 26, 2011 and June 27, 2010 (in thousands, except per share amounts):

	Fiscal Year Ended
	June 24, 2012			June 26, 2011		June 27, 2010
Net income (loss)	$	(55,050	)	$	166,546	$	80,827
Less: Income allocated to participating securities		―			2,562		465
Income (loss) available to common stockholders	$	(55,050	)	$	163,984		80,362
Earnings per common share - basic
Weighted average shares outstanding		69,270			69,858		70,958
Basic income (loss) per share	$	(0.79	)	$	2.35	$	1.13
Earnings per common share - diluted
Basic weighted average shares outstanding		69,270			69,858		70,958
Effect of dilutive securities - stock options and RSU's		―			665		290
Diluted weighted-average shares		69,270			70,523		71,248
Diluted income (loss) per share	$	(0.79	)	$	2.33	$	1.13

For the fiscal years ended June 24, 2012, June 26, 2011 and June 27, 2010, 584,447, 762,186 and 2,734,860 of common stock equivalents were anti-dilutive and were not included in the computation of diluted earnings per share for these periods, respectively, as the exercise price for these common stock equivalents was greater than the average market price of the common stock of the Company during these periods.  In addition, for the fiscal year ended June 24, 2012, 366,100 of contingently issuable RSUs for which all necessary conditions had not been met were not included in the computation of diluted earnings per share.