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Equity Compensation (Tables)
12 Months Ended
Mar. 29, 2014
Summary of Activity in Total Stock Available for Grant

 

 

 

 

 

 

 

 

Shares

 

 

Available for

 

 

Grant

Balance, March 26, 2011

 

8,175 

Plans terminated

 

(34)

Granted

 

(2,049)

Forfeited

 

165 

Balance, March 31, 2012

 

6,257 

Plans terminated

 

 -

Granted

 

(1,600)

Forfeited

 

468 

Balance, March 30, 2013

 

5,125 

Plans terminated

 

 -

Granted

 

(1,785)

Forfeited

 

207 

Balance, March 29, 2014

 

3,547 

 

Summary of Effect of Stock-Based Compensation on Cost of Goods Sold

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Years Ended

 

 

March 29, 2014

 

 

March 30, 2013

 

 

March 31, 2012

Cost of sales

$

864 

 

$

751 

 

$

398 

Research and development

 

10,392 

 

 

10,549 

 

 

5,590 

Sales, general and administrative

 

11,818 

 

 

10,195 

 

 

6,190 

Effect on pre-tax income

 

23,074 

 

 

21,495 

 

 

12,178 

Income Tax Benefit

 

(8,445)

 

 

(106)

 

 

 -

Total share-based compensation expense (net of taxes)

 

14,629 

 

 

21,389 

 

 

12,178 

Share-based compensation effects on basic earnings per share

$

0.50 

 

$

0.33 

 

$

0.19 

Share-based compensation effects on diluted earnings per share

 

0.48 

 

 

0.32 

 

 

0.18 

Share-based compensation effects on operating activities cash flow

 

14,629 

 

 

21,389 

 

 

12,178 

Share-based compensation effects on financing activities cash flow

 

8,445 

 

 

106 

 

 

 -

 

Schedule of Fair Value of Stock Option Grants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

March 29, 2014

 

 

March 30, 2013

 

 

March 31, 2012

 

Expected stock price volatility

 

51.93 

-

54.34

%

 

63.42

%

 

59.25 

-

66.11

%

Risk-free interest rate

 

0.47 

-

0.52

%

 

0.31

%

 

0.27 

-

1.43

%

Expected term (in years)

 

2.46 

-

2.61

 

 

2.46

 

 

2.32 

-

3.82

 

 

Schedule of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding Options

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

Number

 

 

Exercise Price

Balance, March 26, 2011

 

6,181 

 

$

7.63 

Options granted

 

450 

 

 

15.63 

Options exercised

 

(593)

 

 

6.88 

Options forfeited

 

(67)

 

 

7.70 

Options expired

 

(67)

 

 

15.68 

Balance, March 31, 2012

 

5,904 

 

$

8.23 

Options granted

 

264 

 

 

37.22 

Options exercised

 

(1,746)

 

 

6.88 

Options forfeited

 

(144)

 

 

12.52 

Options expired

 

 -

 

 

20.25 

Balance, March 30, 2013

 

4,278 

 

$

10.42 

Options granted

 

318 

 

 

23.45 

Options exercised

 

(834)

 

 

6.12 

Options forfeited

 

(10)

 

 

15.33 

Options expired

 

(27)

 

 

19.52 

Balance, March 29, 2014

 

3,725 

 

$

12.42 

 

Summary of Outstanding Options Vesting, Expected to Vest, or Exercisable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

Weighted Average

 

 

 

 

 

Number of

 

 

Average

 

Remaining Contractual

 

 

Aggregate

 

 

Options

 

 

Exercise price

 

Term (years)

 

 

Intrinsic Value

Vested and expected to vest

 

3,676 

 

$

12.24 

 

5.68 

 

$

32,674 

Exercisable

 

3,004 

 

$

9.54 

 

5.07 

 

$

31,823 

 

Summary of Outstanding and Exercisable Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

Weighted

 

 

 

Weighted

 

 

 

 

Contractual Life

 

Average Exercise

 

Number

 

Average

Range of Exercise Prices

 

Number

 

(years)

 

Price

 

Exercisable

 

Exercise Price

$2.82 - $5.53

 

502 

 

4.03 

 

$

5.16 

 

502 

 

$

5.16 

$5.55 - $5.55

 

943 

 

5.50 

 

 

5.55 

 

943 

 

 

5.55 

$5.66 - $7.87

 

701 

 

3.21 

 

 

7.27 

 

701 

 

 

7.27 

$8.06 - $16.25

 

831 

 

6.74 

 

 

15.21 

 

616 

 

 

15.10 

$16.28 - $24.14

 

499 

 

8.30 

 

 

22.03 

 

154 

 

 

19.46 

$38.99 - $38.99

 

249 

 

8.52 

 

 

38.99 

 

88 

 

 

38.99 

 

 

3,725 

 

5.72 

 

$

12.42 

 

3,004 

 

$

9.54 

 

Summary of Restricted Stock Units Vesting or Expected to Vest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

Weighted Average

 

 

 

 

 

Average

 

Remaining Contractual

 

 

Shares

 

 

Fair Value

 

Term (years)

Vested and expected to vest

 

2,174 

 

$

25.26 

 

1.46 

 

Restricted Stock Awards [Member]
 
Summary of Restricted Stock and Restricted Stock Units Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

Average

 

 

 

 

Grant Date

 

Number of

 

 

Fair Value

 

Shares

 

 

(per share)

March 26, 2011

45 

 

$

7.21 

Granted

49 

 

 

15.31 

Vested

(54)

 

 

14.57 

Forfeited

    -

 

 

    -

March 31, 2012

40 

 

 

7.19 

Granted

27 

 

 

28.24 

Vested

(62)

 

 

15.45 

Forfeited

    -

 

 

    -

March 30, 2013

 

 

17.28 

Granted

 -

 

 

 -

Vested

 -

 

 

 -

Forfeited

 -

 

 

 -

March 29, 2014

 

$

17.28 

 

Restricted Stock Units (RSUs) [Member]
 
Summary of Restricted Stock and Restricted Stock Units Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

Average

 

Shares

 

 

Fair Value

March 26, 2011

620 

 

$

16.41 

Granted

1,017 

 

 

16.59 

Vested

 -

 

 

 -

Forfeited

(21)

 

 

16.04 

March 31, 2012

1,616 

 

 

16.52 

Granted

864 

 

 

37.26 

Vested

(193)

 

 

20.56 

Forfeited

(216)

 

 

21.46 

March 30, 2013

2,071 

 

 

23.66 

Granted

977 

 

 

22.55 

Vested

(626)

 

 

17.71 

Forfeited

(113)

 

 

25.81 

March 29, 2014

2,309 

 

$

25.26