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Condensed Quarterly Results (Unaudited)
 12 Months Ended
Apr. 03, 2016
Quarterly Financial Information Disclosure [Abstract]  
Condensed Quarterly Results (Unaudited)

Note 18. Condensed Quarterly Results (Unaudited)

The following table summarizes certain unaudited quarterly financial information for fiscal 2016 and 2015:

 

 

 

Three Months Ended

 

 

 

June

 

 

September (1)

 

 

December (2)

 

 

March (3)

 

 

 

(In thousands, except per share amounts)

 

Fiscal 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues

 

$

113,405

 

 

$

103,354

 

 

$

122,730

 

 

$

119,424

 

Gross profit

 

 

66,338

 

 

 

61,179

 

 

 

72,567

 

 

 

71,365

 

Operating income

 

 

7,091

 

 

 

2,221

 

 

 

21,456

 

 

 

18,029

 

Net income

 

 

2,556

 

 

 

2,238

 

 

 

23,433

 

 

 

18,239

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.03

 

 

$

0.03

 

 

$

0.28

 

 

$

0.22

 

Diluted

 

$

0.03

 

 

$

0.03

 

 

$

0.28

 

 

$

0.22

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues

 

$

119,449

 

 

$

127,503

 

 

$

140,203

 

 

$

133,043

 

Gross profit

 

 

70,695

 

 

 

75,410

 

 

 

82,401

 

 

 

77,546

 

Operating income

 

 

5,396

 

 

 

13,521

 

 

 

23,700

 

 

 

11,813

 

Net income

 

 

6,000

 

 

 

11,010

 

 

 

22,435

 

 

 

11,148

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.07

 

 

$

0.13

 

 

$

0.26

 

 

$

0.13

 

Diluted

 

$

0.07

 

 

$

0.12

 

 

$

0.25

 

 

$

0.13

 

 

(1)

During the three months ended September 27, 2015, the Company recorded special charges of $8.2 million, consisting of $7.0 million of exit costs and $1.2 million of asset impairment charges related to property and equipment.

(2)

During the three months ended December 27, 2015 and December 28, 2014, the Company recorded an income tax benefit related to the retroactive reinstatement of the federal research tax credit of $3.0 million and $3.7 million, respectively.

(3)

During the three months ended March 29, 2015, the Company recorded special charges of $5.6 million, consisting of $3.5 million of exit costs and $2.1 million of asset impairment charges related to property and equipment.