Earnings Per Share

9 Months Ended

Mar. 25, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following presents the computation of basic earnings per share (in thousands, except per share data):

	Three Months Ended				Nine Months Ended
	March 25, 2012		March 27, 2011		March 25, 2012		March 27, 2011
Basic:
Net income	$	9,489	$	18,881	$	34,386	$	126,692
Weighted average common shares	115,641		108,948		114,348		108,338
Basic earnings per share	$	0.08	$	0.17	$	0.30	$	1.17

The following computation reconciles the differences between the basic and diluted earnings per share presentations (in thousands, except per share data):

	Three Months Ended				Nine Months Ended
	March 25, 2012		March 27, 2011		March 25, 2012		March 27, 2011
Diluted:
Net income	$	9,489	$	18,881	$	34,386	$	126,692
Weighted average common shares - basic	115,641		108,948		114,348		108,338
Dilutive effect of stock options, unvested shares and ESPP purchase rights	433		1,375		531		1,669
Weighted average common shares - diluted	116,074		110,323		114,879		110,007
Diluted earnings per share	$	0.08	$	0.17	$	0.30	$	1.15

Potential common shares that would have the effect of increasing diluted earnings per share are considered to be antidilutive. In accordance with U.S. GAAP, these shares were not included in calculating diluted earnings per share. For the three and nine months ended March 25, 2012, there were 7.9 and 6.8 million shares, respectively, not included in calculating diluted earnings per share because their effect was antidilutive. For three and nine months ended March 27, 2011, there were 2.4 and 1.8 million shares, respectively, not included in calculating diluted earnings per share because their effect was antidilutive.