| NET INCOME (LOSS) PER SHARE |
NET INCOME (LOSS) PER SHARE
The following is the computation of basic and diluted net income (loss) per share (in thousands, except per share data):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
December 31, 2014 |
|
December 31, 2013 |
|
December 31, 2014 |
|
December 31, 2013 |
Numerator: |
|
|
|
|
|
|
|
Net income (loss) |
$ |
6,931 |
|
|
$ |
(2,458 |
) |
|
$ |
3,855 |
|
|
$ |
(7,070 |
) |
Adjustment for interest expense on convertible subordinated notes, net of taxes |
902 |
|
|
— |
|
|
— |
|
|
— |
|
Income (loss) for purposes of computing income (loss) per diluted share |
$ |
7,833 |
|
|
$ |
(2,458 |
) |
|
$ |
3,855 |
|
|
$ |
(7,070 |
) |
|
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
|
Weighted average shares: |
|
|
|
|
|
|
|
Basic |
255,860 |
|
|
248,135 |
|
|
253,773 |
|
|
246,183 |
|
Dilutive shares from stock plans |
4,493 |
|
|
— |
|
|
4,034 |
|
|
— |
|
Dilutive shares from convertible subordinated notes |
42,502 |
|
|
— |
|
|
— |
|
|
— |
|
Diluted |
302,855 |
|
|
248,135 |
|
|
257,807 |
|
|
246,183 |
|
|
|
|
|
|
|
|
|
Basic net income (loss) per share |
$ |
0.03 |
|
|
$ |
(0.01 |
) |
|
$ |
0.02 |
|
|
$ |
(0.03 |
) |
Diluted net income (loss) per share |
$ |
0.03 |
|
|
$ |
(0.01 |
) |
|
$ |
0.01 |
|
|
$ |
(0.03 |
) |
Dilutive and potentially dilutive common shares from the Stock Incentive Plans are determined by applying the treasury stock method to the assumed exercise of outstanding options and the assumed vesting of outstanding restricted stock units. The dilutive impact related to our convertible subordinated notes is determined by applying the if-converted method, which includes adding the related weighted average shares to the denominator and the related interest expense to net income.
The computations of diluted net income (loss) per share for the periods presented exclude the following because the effect would have been anti-dilutive:
|
|
• |
For the third quarter of fiscal 2014 and the first nine months of fiscal 2015 and fiscal 2014, 42.5 million weighted average shares related to our 4.50% convertible subordinated notes were excluded. For the third quarter of fiscal 2014, $0.9 million of related interest expense was excluded. For the first nine months of fiscal 2015 and 2014, $2.7 million of related interest was excluded.
|
|
|
• |
For the third quarter and the first nine months of fiscal 2015, 30.9 million weighted average shares related to our 3.50% convertible subordinated notes were excluded. For the third quarter and the first nine months of fiscal 2014, 31.2 million weighted average shares were excluded. For the third quarter of fiscal 2015 and 2014, $1.4 million of related interest expense was excluded. For the first nine months of fiscal 2015 and 2014, $4.3 million of related interest expense was excluded.
|
|
|
• |
For the third quarter and first nine months of fiscal 2015, options to purchase 1.8 million and 2.6 million weighted average shares, respectively, were excluded. For the third quarter and first nine months of fiscal 2014, options to purchase 11.5 million and 13.8 million weighted average shares, respectively, were excluded.
|
|
|
• |
Unvested RSUs of 0.1 million weighted average shares for the third quarter and first nine months of fiscal 2015 were excluded. Unvested RSUs of 11.5 million and 10.7 million weighted average shares for the third quarter and first nine months of fiscal 2014, respectively, were excluded.
|
|