Earnings Per Share

6 Months Ended

Dec. 28, 2014

The following table presents the computation of basic earnings per share (in thousands, except per share amounts):



	Three Months Ended				Six Months Ended
	December 28, 2014		December 29, 2013		December 28, 2014		December 29, 2013
Net income		$12,151		$35,681		$23,281		$66,178
Weighted average common shares	115,264		120,932		117,435		120,248
Basic earnings per share		$0.11		$0.30		$0.20		$0.55

The following computation reconciles the differences between the basic and diluted earnings per share presentations (in thousands, except per share amounts):



	Three Months Ended				Six Months Ended
	December 28, 2014		December 29, 2013		December 28, 2014		December 29, 2013
Net income		$12,151		$35,681		$23,281		$66,178
Weighted average common shares - basic	115,264		120,932		117,435		120,248
Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights	581		2,272		1,164		2,573
Weighted average common shares - diluted	115,845		123,204		118,599		122,821
Diluted earnings per share		$0.10		$0.29		$0.20		$0.54

Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive and as such, these shares are not included in calculating diluted earnings per share. For the three and six months ended December 28, 2014, there were 8.6 million and 6.5 million, respectively, of potential common shares not included in the calculation of diluted earnings per share because their effect was anti-dilutive. For the three and six months ended December 29, 2013, there were 3.1 million and 2.1 million, respectively, of potential common shares not included in the calculation of diluted earnings per share because their effect was anti-dilutive.

- Definition

The entire disclosure for earnings per share.

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