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SUMMARY OF QUARTERLY DATA (UNAUDITED) | 12 Months Ended
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Apr. 01, 2017
Quarterly Financial Data [Abstract] |
SUMMARY OF QUARTERLY DATA (UNAUDITED) | SUMMARY OF QUARTERLY DATA (UNAUDITED)
(In thousands) |  | Three months ended
Fiscal 2017 |  | July 2, 2016 |  | October 1, 2016 |  | December 31, 2016 |  | April 1, 2017
Net revenues |  | $ | 209,956 |  |  | $ | 220,253 |  |  | $ | 227,841 |  |  | $ | 228,066 |
Gross profit |  | $ | 91,056 |  |  | $ | 104,248 |  |  | $ | 101,079 |  |  | $ | 82,111 |
Operating income (loss) |  | $ | (7,881 | ) |  | $ | 24,794 |  |  | $ | 21,212 |  |  | $ | (57,506 | )
Net (loss) income |  | $ | (10,346 | ) |  | $ | 19,825 |  |  | $ | 15,393 |  |  | $ | (51,140 | )
Per share data: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.20 | ) |  | $ | 0.39 |  |  | $ | 0.30 |  |  | $ | (0.98 | )
Diluted |  | $ | (0.20 | ) |  | $ | 0.38 |  |  | $ | 0.30 |  |  | $ | (0.98 | )
(In thousands) |  | Three months ended
Fiscal 2016 |  | June 27, 2015 |  | September 26, 2015 |  | December 26, 2015 |  | April 2, 2016
Net revenues |  | $ | 213,413 |  |  | $ | 219,693 |  |  | $ | 233,384 |  |  | $ | 242,342 |
Gross profit |  | $ | 102,539 |  |  | $ | 105,297 |  |  | $ | 108,855 |  |  | $ | 89,223 |
Operating (loss) income |  | $ | 3,606 |  |  | $ | 19,179 |  |  | $ | (61,177 | ) |  | $ | (5,550 | )
Net (loss) income |  | $ | (267 | ) |  | $ | 12,863 |  |  | $ | (59,440 | ) |  | $ | (8,735 | )
Per share data: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.01 | ) |  | $ | 0.25 |  |  | $ | (1.17 | ) |  | $ | (0.17 | )
Diluted |  | $ | (0.01 | ) |  | $ | 0.25 |  |  | $ | (1.17 | ) |  | $ | (0.17 | )
The operating results for the second and fourth quarters of fiscal 2017 and all four quarters of fiscal 2016 include certain misstatements that were determined to be immaterial both individually and in the aggregate. The misstatement in the fourth quarter of fiscal 2017 was primarily driven by the correction of an error in capitalized manufacturing variances which resulted in an overstatement of net loss in the fourth quarter of fiscal 2017 and an overstatement of net income in the second quarter of fiscal 2017 and each quarter of fiscal 2016. The operating results for the first quarter of fiscal 2016 also include the correction of an understatement of the provision for income taxes in fiscal 2015 and the operating results for the third quarter of fiscal 2016 also include the correction of an overstated liability in fiscal 2014. Below is a summary of the net overstatement/(understatement) of the Company’s reported operating income and net income for the second and fourth quarters of fiscal 2017 and all four quarters of fiscal 2016 as a result of the misstatements in each reporting period. In the fourth quarter of fiscal 2017 and the first, third and fourth quarters of fiscal 2016, the Company reported an operating loss, a net loss or both. For such periods, an understatement of income means that the reported loss was too high, while an overstatement of income means that the reported loss was too low.
(In thousands) |  | Overstatement/(Understatement)
Three Months Ended |  | Operating (Loss) Income |  | Net (Loss) Income
April 1, 2017 |  | (3,720 | ) |  | (4,032 | )
October 1, 2016 |  | 888 |  |  | 1,224 |
April 2, 2016 |  | (3,352 | ) |  | (2,207 | )
December 26, 2015 |  | 4,776 |  |  | 4,584 |
September 26, 2015 |  | 1,193 |  |  | 933 |
June 27, 2015 |  | 1,297 |  |  | 219 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1570-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
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