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Earnings Per Share
 6 Months Ended
Dec. 27, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share are computed using the weighted average number of shares of common stock outstanding during the period. For purposes of computing basic earnings (loss) per share, the weighted average number of outstanding shares of common stock excludes unvested RSUs and MSUs. Diluted earnings (loss) per share incorporates the incremental shares issuable upon the assumed exercise of stock options, assumed release of unvested RSUs and MSUs and assumed issuance of common stock under the employee stock purchase plans using the treasury stock method.

The following table sets forth the computation of basic and diluted earnings (loss) per share:
 
Three Months Ended
 
Six Months Ended
 
December 27,
2014
 
December 28,
2013
 
December 27,
2014
 
December 28,
2013
 
(in thousands, except per share data)
Numerator for basic earnings (loss) per share and diluted earnings (loss) per share
 
 
 
 
 
 
 
Net income (loss)
$
(72,034
)
 
$
44,353

 
$
27,946

 
$
147,473

 
 
 
 
 
 
 
 
Denominator for basic earnings (loss) per share
282,992

 
282,664

 
283,539

 
283,659

Effect of dilutive securities:
 
 
 
 
 
 
 
Stock options, ESPP, RSUs and MSUs
—

 
5,901

 
5,337

 
5,712

Denominator for diluted earnings (loss) per share
282,992

 
288,565

 
288,876

 
289,371

 
 
 
 
 
 
 
 
Earnings (loss) per share
 
 
 
 
 
 
 
Basic
$
(0.25
)
 
$
0.16

 
$
0.10

 
$
0.52

Diluted
$
(0.25
)
 
$
0.15

 
$
0.10

 
$
0.51



The Company had a net loss for the three months ended December 27, 2014, accordingly all incremental shares totaling 5.8 million shares were determined to be anti-dilutive. Approximately 10.5 million stock options were excluded from the calculation of diluted earnings per share for the three months ended December 28, 2013. Approximately 5.9 million and 9.8 million stock options were excluded from the calculation of diluted earnings per share for the six months ended December 27, 2014 and December 28, 2013, respectively. These options were excluded because they were determined to be anti-dilutive. However, such options could be dilutive in the future and, under those circumstances, would be included in the calculation of diluted earnings per share.