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Stockholders' Equity (Tables)
12 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Stock-Based Compensation Expense Included in Consolidated Statements of Operations

The following table shows total stock-based compensation expense included in the consolidated statements of operations:

 

     Year ended  
     June 30,
2013
    July 1,
2012
    July 3,
2011
 
     (In thousands)  

Cost of sales

   $ 1,037      $ 867      $ 802   

Research and development

     1,200        1,183        870   

Selling, general and administrative

     4,878        4,092        3,126   
  

 

 

   

 

 

   

 

 

 

Pre-tax stock-based compensation expense

     7,115        6,142        4,798   

Less: Income tax effect

     (2,633     (2,273     (1,775
  

 

 

   

 

 

   

 

 

 

Net stock-based compensation expense

   $ 4,482      $ 3,869      $ 3,023   
  

 

 

   

 

 

   

 

 

 
Stock Option and Award Activity

The following table summarizes stock option and award activity for fiscal years 2013, 2012 and 2011:

 

           Non Performance-based  Options
Outstanding
     Restricted Stock Outstanding  
     Shares
Available
For Grant
    Number
of
Shares
    Weighted
Average
Exercise

Price
     Number
of
Shares
    Weighted
Average
Grant-Date
Fair Value
 
     (In thousands, except per share amounts)  

Balances at June 27, 2010

     5,697        6,043      $ 5.84         219      $ 5.20   

Granted—options

     (2,193     2,193        6.20        

Granted—restricted shares

     (422     —          —           211        6.55   

Exercised

     —          (462     4.69        

Vested

     —          —          —           (175     5.19   

Cancelled and expired

     1,457        (1,240     7.22         (27     5.78   

Expired from plans prior to 1999

     (76     —             —          —     
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Balances at July 3, 2011

     4,463        6,534      $ 5.78         228      $ 6.39   

Granted—options

     (2,109     2,109        5.16        

Granted—restricted shares

     (312     —          —           156        5.32   

Exercised

     —          (475     4.53        

Vested

     —          —          —           (123     6.53   

Cancelled and expired

     852        (852     7.07         —       

Shares expired from plans prior to 1999

     (5     —          —           —          —     
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Balances at July 1, 2012

     2,889        7,316      $ 5.54         261      $ 5.68   

Increase in authorized shares

     2,000            

Granted—options

     (2,428     2,428        5.69        

Granted—restricted shares

     (878     —          —           461        5.47   

Exercised

     —          (680     4.46        

Vested

     —          —          —           (162     5.84   

Cancelled and expired

     1,310        (978     5.76         (164     5.92   
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Balances at June 30, 2013

     2,893        8,086      $ 5.64         396      $ 5.28   
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

Options Outstanding, Vested and Expected to Vest, and Exercisable

Options outstanding, vested and expected to vest, and exercisable as of June 30, 2013 were as follows:

 

Option

   Number of
Shares
     Weighted
Average
Remaining
Contractual
Life
     Weighted
Average
Exercise Price
     Aggregate
Intrinsic
Value
 
     (In thousands)      (In years)             (In thousands)  

Outstanding

     8,086         3.83       $ 5.64       $ 65   

Vested and expected to vest

     7,868         3.77       $ 5.65       $ 64   

Exercisable

     4,539         2.49       $ 5.72       $ 51   
Fair Value of Stock-Based Awards to Employees

The fair value of our stock-based awards to employees was estimated assuming no expected dividend and the following weighted-average assumptions for fiscal 2013, 2012 and 2011:

 

     Year ended  
     June 30,
2013
    July 1,
2012
    July 3,
2011
 

Expected life (in years)

     5.3        4.9        5.1   

Risk-free interest rate

     0.9     0.6     1.2

Volatility

     56.8     56.6     56.6