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Earnings Per Share
3 Months Ended
Sep. 25, 2011
Earnings Per Share [Abstract] 
Earnings Per Share
Earnings Per Share
The following presents the computation of basic earnings per share (in thousands, except per share data):
 
 
Three Months Ended
 
September 25,

2011
 
September 26,

2010
Basic:
 
Net income
$
12,819


 
$
58,036


Weighted average common shares
111,866


 
107,701


Basic earnings per share
$
0.11


 
$
0.54




The following computation reconciles the differences between the basic and diluted earnings per share presentations (in thousands, except per share data):
 
 
Three Months Ended
 
September 25,

2011
 
September 26,

2010
Diluted:
 
 
 
Net income
$
12,819


 
$
58,036


Weighted average common shares - basic
111,866


 
107,701


Dilutive effect of stock options, unvested shares and ESPP purchase rights
677


 
1,916


Weighted average common shares - diluted
112,543


 
109,617


Diluted earnings per share
$
0.11


 
$
0.53




Potential common shares that would have the effect of increasing diluted earnings per share are considered to be antidilutive. In accordance with U.S. GAAP, these shares were not included in calculating diluted earnings per share. For the three months ended September 25, 2011, there were 5.3 million shares not included in calculating diluted earnings per share because their effect was antidilutive. For the three months ended September 26, 2010, there were 0.8 million shares not included in calculating diluted earnings per share because their effect was antidilutive.