Earnings Per Share

6 Months Ended

Dec. 27, 2015

Earnings (Loss) Per Share

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



	Three Months Ended				Six Months Ended
	December 27, 2015		December 28, 2014		December 27, 2015			December 28, 2014
Net income (loss)		$13,958		$12,151		($9,665	)		$23,281
Weighted average common shares	102,391		115,264		102,932			117,435
Basic earnings (loss) per share		$0.14		$0.11		($0.09	)		$0.20

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



	Three Months Ended				Six Months Ended
	December 27, 2015		December 28, 2014		December 27, 2015			December 28, 2014
Net income (loss)		$13,958		$12,151		($9,665	)		$23,281
Weighted average common shares - basic	102,391		115,264		102,932			117,435
Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights	130		581		—			1,164
Weighted average common shares - diluted	102,521		115,845		102,932			118,599
Diluted earnings (loss) per share		$0.14		$0.10		($0.09	)		$0.20

Potential common shares that would have the effect of increasing diluted earnings per share or decreasing diluted loss 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 27, 2015, there were 12.2 million and 11.5 million, respectively, of potential common shares not included in the calculation of diluted earnings (loss) per share because their effect was anti-dilutive. 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 (loss) per share because their effect was anti-dilutive.