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SUMMARY OF QUARTERLY DATA (UNAUDITED) | 12 Months Ended
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Mar. 31, 2018
Quarterly Financial Data [Abstract] |
SUMMARY OF QUARTERLY DATA (UNAUDITED) | SUMMARY OF QUARTERLY DATA (UNAUDITED)
(In thousands, except per share data) |  | Three months ended
Fiscal 2018 |  | July 1, 2017 |  | September 30, 2017 |  | December 30, 2017 |  | March 31, 2018
Net revenues |  | $ | 210,951 |  |  | $ | 225,377 |  |  | $ | 234,043 |  |  | $ | 233,552 |
Gross profit |  | $ | 91,665 |  |  | $ | 104,562 |  |  | $ | 111,295 |  |  | $ | 104,386 |
Operating income |  | $ | 16,611 |  |  | $ | 24,258 |  |  | $ | 1,013 |  |  | $ | 14,275 |
Net income (loss) |  | $ | 20,137 |  |  | $ | 20,102 |  |  | $ | (6,547 | ) |  | $ | 11,880 |
Per share data: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | (0.12 | ) |  | $ | 0.22 |
Diluted |  | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | (0.12 | ) |  | $ | 0.22 |
(In thousands, except per share data) |  | 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 (loss) income |  | $ | (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 | )
The operating results for the third and fourth quarters of fiscal 2018 and the fourth quarter of fiscal 2017 include certain misstatements that were determined to be immaterial both individually and in the aggregate. The misstatement in the fourth quarter of fiscal 2018 was primarily driven by an over accrual of certain professional fees in the third quarter of fiscal 2018. 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. Below is a summary of the net overstatement/(understatement) of the Company’s reported operating income and net income for the third and fourth quarters of fiscal 2018 and the fourth quarter of fiscal 2017. In the fourth quarter of fiscal 2017 the Company reported both an operating loss and a net loss. For this period, 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
March 31, 2018 |  | (2,014 | ) |  | (1,786 | )
December 30, 2017 |  | 1,589 |  |  | 1,239 |
April 1, 2017 |  | (3,720 | ) |  | (4,032 | )

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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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