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Quarterly Financial Information (unaudited)
 12 Months Ended
Jul. 01, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information (unaudited)
Note 18. Selected Quarterly Financial Information (unaudited)
The following table presents the Company’s selected quarterly financial information from the Consolidated Statements of Operations for fiscal 2017 and 2016 (in millions, except per share data):
 
July 1, 2017
 
April 1, 2017
 
December 31, 2016
 
October 1, 2016
 
July 2, 2016
 
April 2, 2016
 
January 2, 2016
 
October 3, 2015
 
(1) (2)
 
(2)
 
(2)
 
(2)
 
(1)(2)(3)
 
(1)(2)
 
(1)
 
(1)
Net revenue
$
198.1

 
$
196.0

 
$
206.5

 
$
210.8

 
$
224.1

 
$
220.4

 
$
232.1

 
$
229.7

Gross profit
119.2

 
117.0

 
124.7

 
125.1

 
136.1

 
131.3

 
141.8

 
140.5

Net income(loss) from continuing operations, net of tax
12.1

 
26.0

 
49.2

 
78.0

 
(64.5
)
 
28.8

 
1.0

 
(15.7
)
Net income (loss) from discontinued operations, net of tax
1.6

 
—

 
—

 
—

 
(3.4
)
 
5.0

 
3.0

 
(53.4
)
Net income (loss)
$
13.7

 
$
26.0

 
$
49.2

 
$
78.0

 
$
(67.9
)
 
$
33.8

 
$
4.0

 
$
(69.1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) per share from - basic:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations (4)
$
0.05

 
$
0.11

 
$
0.21

 
$
0.34

 
$
(0.28
)
 
$
0.13

 
$
0.01

 
$
(0.07
)
Discontinued operations (4)
0.01

 
—

 
—

 
—

 
(0.01
)
 
0.02

 
0.01

 
(0.22
)
Net income (loss) (4)
$
0.06

 
$
0.11

 
$
0.21

 
$
0.34

 
$
(0.29
)
 
$
0.15

 
$
0.02

 
$
(0.29
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) per share from - diluted:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations (4)
$
0.05

 
$
0.11

 
$
0.21

 
$
0.33

 
$
(0.28
)
 
$
0.12

 
$
0.01

 
$
(0.07
)
Discontinued operations (4)
0.01

 
—

 
—

 
—

 
(0.01
)
 
0.02

 
0.01

 
(0.22
)
Net income (loss) (4)
$
0.06

 
$
0.11

 
$
0.21

 
$
0.33

 
$
(0.29
)
 
$
0.14

 
$
0.02

 
$
(0.29
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares used in per-share calculation (basic)
227.3

 
229.4

 
230.5

 
232.4

 
232.7

 
232.0

 
234.9

 
236.0

Shares used in per-share calculation (diluted)
232.5

 
234.6

 
234.2

 
236.8

 
232.7

 
234.6

 
237.1

 
236.0


(1)
During the first quarter of fiscal 2016, we completed the Separation. As a result, the operations of the Lumentum business have been presented as discontinued operations in all periods of the Company’s Consolidated Statement of Operations.
(2)
During fiscal year ended 2017 and 2016, the Company recorded $203.0 million and $71.5 million, respectively, gain on sale of Lumentum common stock which was retained as part of the Separation of Lumentum. Refer to “Note 7. Investments, Forward Contracts and Fair Value Measurements” for more information.
(3)
During the fourth quarter of fiscal 2016, the Company recorded a $91.4 million goodwill impairment charge related to the SE reporting unit.
(4)
Net income (loss) per share is computed independently for each of the fiscal quarters presented. Therefore, the sum of the quarterly basic and diluted net income (loss) per share amounts may not equal the annual basic and diluted net income (loss) per share amount for the full fiscal years.