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Stock-Based Compensation (Tables)
12 Months Ended
Apr. 03, 2016
Summary of Stock Option Activity

A summary of stock option activity is as follows:

 

 

Number of

Options

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Term (Years)

 

 

Aggregate

Intrinsic

Value

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Outstanding at March 31, 2013

 

 

16,829

 

 

$

17.14

 

 

 

 

 

 

 

 

 

Granted

 

 

75

 

 

 

10.90

 

 

 

 

 

 

 

 

 

Exercised

 

 

(88

)

 

 

12.00

 

 

 

 

 

 

$

36

 

Forfeited (cancelled pre-vesting)

 

 

(732

)

 

 

15.02

 

 

 

 

 

 

 

 

 

Expired (cancelled post-vesting)

 

 

(4,881

)

 

 

20.45

 

 

 

 

 

 

 

 

 

Outstanding at March 30, 2014

 

 

11,203

 

 

 

15.84

 

 

 

 

 

 

 

 

 

Granted

 

 

32

 

 

 

9.99

 

 

 

 

 

 

 

 

 

Exercised

 

 

(229

)

 

 

13.43

 

 

 

 

 

 

 

264

 

Forfeited (cancelled pre-vesting)

 

 

(273

)

 

 

14.88

 

 

 

 

 

 

 

 

 

Expired (cancelled post-vesting)

 

 

(2,238

)

 

 

15.42

 

 

 

 

 

 

 

 

 

Outstanding at March 29, 2015

 

 

8,495

 

 

 

16.03

 

 

 

 

 

 

 

 

 

Granted

 

 

22

 

 

 

14.91

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1,034

)

 

 

14.50

 

 

 

 

 

 

 

793

 

Forfeited (cancelled pre-vesting)

 

 

(12

)

 

 

13.29

 

 

 

 

 

 

 

 

 

Expired (cancelled post-vesting)

 

 

(2,083

)

 

 

17.18

 

 

 

 

 

 

 

 

 

Outstanding at April 3, 2016

 

 

5,388

 

 

$

15.88

 

 

 

3.0

 

 

$

487

 

Vested and expected to vest at April 3, 2016

 

 

5,388

 

 

$

15.88

 

 

 

3.0

 

 

$

487

 

Exercisable at April 3, 2016

 

 

5,307

 

 

$

15.92

 

 

 

3.0

 

 

$

402

 

 

Summary of Stock-Based Compensation Expense

A summary of stock-based compensation expense, by functional line item in the consolidated statements of operations, is as follows:

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

(In thousands)

 

Cost of revenues

 

$

825

 

 

$

1,049

 

 

$

1,349

 

Engineering and development

 

 

9,140

 

 

 

10,024

 

 

 

10,918

 

Sales and marketing

 

 

3,780

 

 

 

4,631

 

 

 

5,337

 

General and administrative

 

 

2,883

 

 

 

4,841

 

 

 

5,034

 

 

 

$

16,628

 

 

$

20,545

 

 

$

22,638

 

 

Weighted-Average Fair Values and Underlying Assumptions

The fair value of stock options granted and shares to be purchased under the ESPP have been estimated at the date of grant using a Black-Scholes option-pricing model.  The weighted-average fair values and underlying assumptions are as follows:

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

Stock Options

 

 

Employee Stock

Purchase Plan

 

 

Stock Options

 

 

Employee Stock

Purchase Plan

 

 

Stock Options

 

 

Employee Stock

Purchase Plan

 

Fair value

 

$

5.44

 

 

$

2.60

 

 

$

3.74

 

 

$

2.20

 

 

$

4.12

 

 

$

2.41

 

Expected volatility

 

 

33

%

 

 

39

%

 

 

33

%

 

 

30

%

 

 

36

%

 

 

32

%

Risk-free interest rate

 

 

1.9

%

 

 

0.2

%

 

 

2.1

%

 

 

0.1

%

 

 

1.6

%

 

 

0.1

%

Expected life (years)

 

 

6.5

 

 

 

0.6

 

 

 

6.6

 

 

 

0.5

 

 

 

6.2

 

 

 

0.3

 

Dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vesting Feature Service Conditions And Either Performance Or Market Condition [Member]  
Summary of Activity of Restricted Stock Units

A summary of activity of restricted stock units subject to a service condition and either a performance or market condition is as follows:

 

 

 

Number of

RSUs

 

 

Weighted-

Average

Grant

Date

Fair Value

 

 

Aggregate

Fair Value

 

 

 

(In thousands)

 

 

 

 

 

 

(In thousands)

 

Outstanding and unvested at March 31, 2013

 

 

289

 

 

$

14.01

 

 

 

 

 

Granted

 

 

374

 

 

 

11.67

 

 

 

 

 

Vested

 

 

(60

)

 

 

13.97

 

 

$

558

 

Forfeited

 

 

(180

)

 

 

13.86

 

 

 

 

 

Outstanding and unvested at March 30, 2014

 

 

423

 

 

 

12.02

 

 

 

 

 

Granted

 

 

721

 

 

 

12.04

 

 

 

 

 

Vested

 

 

(24

)

 

 

13.98

 

 

 

242

 

Forfeited

 

 

(141

)

 

 

10.03

 

 

 

 

 

Outstanding and unvested at March 29, 2015

 

 

979

 

 

 

12.27

 

 

 

 

 

Granted

 

 

641

 

 

 

15.45

 

 

 

 

 

Vested

 

 

(21

)

 

 

10.14

 

 

 

322

 

Forfeited

 

 

(1,094

)

 

 

13.60

 

 

 

 

 

Outstanding and unvested at April 3, 2016

 

 

505

 

 

$

13.52

 

 

 

 

 

 

Vesting Feature Service Conditions [Member]  
Summary of Activity of Restricted Stock Units

   A summary of activity of restricted stock units subject to only a service condition is as follows:

 

 

 

Number of

RSUs

 

 

Weighted-

Average

Grant

Date

Fair Value

 

 

Aggregate

Fair Value

 

 

 

(In thousands)

 

 

 

 

 

 

(In thousands)

 

Outstanding and unvested at March 31, 2013

 

 

3,251

 

 

$

14.71

 

 

 

 

 

Granted

 

 

2,207

 

 

 

11.11

 

 

 

 

 

Vested

 

 

(1,150

)

 

 

14.90

 

 

$

11,136

 

Forfeited

 

 

(697

)

 

 

13.80

 

 

 

 

 

Outstanding and unvested at March 30, 2014

 

 

3,611

 

 

 

12.62

 

 

 

 

 

Granted

 

 

2,061

 

 

 

10.61

 

 

 

 

 

Vested

 

 

(1,102

)

 

 

13.42

 

 

 

11,839

 

Forfeited

 

 

(911

)

 

 

11.94

 

 

 

 

 

Outstanding and unvested at March 29, 2015

 

 

3,659

 

 

 

11.42

 

 

 

 

 

Granted

 

 

1,578

 

 

 

14.40

 

 

 

 

 

Vested

 

 

(1,213

)

 

 

11.88

 

 

 

17,206

 

Forfeited

 

 

(1,086

)

 

 

12.45

 

 

 

 

 

Outstanding and unvested at April 3, 2016

 

 

2,938

 

 

$

12.44