Earnings per Share (EPS) and Common Stock

EPS

Basic EPS is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted EPS is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding RSUs using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of unrecognized compensation expense and any tax benefits as additional proceeds.



	Three months ended						Six months ended
Calculation of Basic and Diluted EPS	April 1, 2017			April 2, 2016			April 1, 2017			April 2, 2016
	(in thousands, except per share data)
Net loss	$	(1,104	)	$	(5,173	)	$	(10,245	)	$	(29,065	)
Weighted average shares outstanding—Basic	115,709			114,563			115,498			114,354
Dilutive effect of restricted stock units	—			—			—			—
Weighted average shares outstanding—Diluted	115,709			114,563			115,498			114,354
Loss per share—Basic	$	(0.01	)	$	(0.05	)	$	(0.09	)	$	(0.25	)
Loss per share—Diluted	$	(0.01	)	$	(0.05	)	$	(0.09	)	$	(0.25	)

For the six months ended April 1, 2017 and April 2, 2016 diluted net loss per share is the same as basic net loss per share as the effects of our potential common stock equivalents are antidilutive. Total antidilutive shares were 1.8 million and 2.1 million for the six months ended April 1, 2017 and April 2, 2016, respectively.

Common Stock Repurchases

Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors has periodically authorized the repurchase of shares of our common stock. On August 4, 2014, our Board of Directors authorized us to repurchase up to $600 million of our common stock through September 30, 2017. We have repurchased $189.9 million of our common stock under this authorization. We did not repurchase any shares in the second quarter and first six months of 2017 and 2016. We have resumed share repurchases early in the third quarter of 2017. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.