Earnings Per Share

9 Months Ended

Mar. 27, 2016

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				Nine Months Ended
	March 27, 2016		March 29, 2015		March 27, 2016			March 29, 2015
Net income (loss)		$152		$476		($10,895	)		$23,408
Weighted average common shares	100,606		110,662		102,157			115,177
Basic earnings (loss) per share		$—		$—		($0.11	)		$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				Nine Months Ended
	March 27, 2016		March 29, 2015		March 27, 2016			March 29, 2015
Net income (loss)		$152		$476		($10,895	)		$23,408
Weighted average common shares - basic	100,606		110,662		102,157			115,177
Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights	615		928		—			1,127
Weighted average common shares - diluted	101,221		111,590		102,157			116,304
Diluted earnings (loss) per share		$—		$—		($0.11	)		$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 nine months ended March 27, 2016, there were 10.2 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 nine months ended March 29, 2015, there were 7.7 million and 6.8 million, respectively, of potential common shares not included in the calculation of diluted earnings (loss) per share because their effect was anti-dilutive.