Net Income per Common Share

3 Months Ended

Sep. 23, 2012

Net income (loss) per common share [Abstract]

Net Income per Common Share

14. Net Income per Common Share

The Company calculates earnings per share using the two-class method.  The two-class method requires allocating the Company's net income to both common shares and participating securities.  The Company's participating securities include the unvested, outstanding RSUs to the extent the RSUs provide for the right to receive dividend equivalents.

The following table provides a reconciliation of the numerator and denominator of the basic and diluted per-share computations for the three months ended September 23, 2012 and September 25, 2011 (in thousands, except per share amounts):

	Three Months Ended
	September 23, 2012			September 25, 2011
Net income (loss)	$	(28,775	)	$	21,963
Less: Income allocated to participating securities		—			267
Income (loss) available to common stockholders	$	(28,775	)	$	21,696
Net income (loss) per common share - basic
Weighted average common shares outstanding		69,283			69,768
Net income (loss) per common share-basic	$	(0.42	)	$	0.31
Net income (loss) per common share - diluted
Basic weighted average common shares outstanding		69,283			69,768
Effect of dilutive securities – stock options and RSUs		—			517
Weighted-average common shares and potentially dilutive securities outstanding-dilutive		69,283			70,285
Net income (loss) per common share-dilutive	$	(0.42	)	$	0.31

For the three months ended September 23, 2012 and September 25, 2011, 2,927,138 and 1,043,134 common stock equivalents, respectively, were antidilutive and were not included in the computation of diluted earnings per share for these periods.  In addition, for the three months ended September 23, 2012, 781,594 of contingently issuable restricted stock units for which all necessary conditions had not been met were not included in the computation of diluted earnings per share.