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900000

133564000

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Q1 HAE HAEMONETICS CORP false Large Accelerated Filer 2012 10-Q 2011-07-02 0000313143 --03-31

88748000

2675000

<div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>5. PRODUCT WARRANTIES</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We generally provide a warranty on parts and labor for one year after the sale and installation of each device. We also warrant our disposables products through their use or expiration. We estimate our potential warranty expense based on our historical warranty experience, and we periodically assess the adequacy of our warranty accrual and make adjustments as necessary.</div> </div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="6" nowrap="nowrap" align="center"><b>For the three months ended</b></td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 3, 2010</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="6" nowrap="nowrap" align="center">(in thousands)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Warranty accrual as of the beginning of the period</div> </td> <td> </td> <td align="left">$</td> <td align="right">1,273</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">903</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Warranty provision</div> </td> <td> </td> <td> </td> <td align="right">278</td> <td> </td> <td> </td> <td> </td> <td align="right">435</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Warranty spending</div> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(292</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(459</td> <td nowrap="nowrap">)</td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Warranty accrual as of the end of the period</div> </td> <td> </td> <td align="left">$</td> <td align="right">1,259</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">879</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div> </div>

19000

4100000

-11782000

106000

<div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The following table presents the effect of our derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC Topic 815 in our consolidated statement of income for the three months ended July 2, 2011.</div> </div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Amount of Loss</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"> </td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Amount of Loss</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Reclassified</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Amount</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"> </td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Recognized</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">from AOCI into</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Location in</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Excluded from</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Location in</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">in AOCI</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Earnings</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Statement of</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Effectiveness</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Statement of</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 1px solid" nowrap="nowrap" align="left">Derivative Instruments</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">(Effective Portion)</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">(Effective Portion)</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Operations</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Testing (*)</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Operations</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2"></td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Designated foreign currency hedge contracts</div> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,323</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,637</td> <td nowrap="nowrap">)</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Net revenues,</td> <td> </td> <td>$</td> <td align="right">(41</td> <td>)</td> <td> </td> <td colspan="2" nowrap="nowrap">Other income</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="3" align="center">COGS, and</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="3" align="center">SG&A</td> <td> </td> <td nowrap="nowrap" align="left"></td> <td valign="top" align="right"></td> <td nowrap="nowrap"></td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"></td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Non-designated foreign currency hedge contracts</div> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="right">591</td> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Other expense</td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="7" align="left">    </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,323</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,637</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">550</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="7" align="left">   </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> </table> </div> <div align="left"> <div style="MARGIN-TOP: 16pt; WIDTH: 18%; FONT-SIZE: 3pt; BORDER-TOP: #000000 1px solid">  </div> </div> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(*)</td> <td> </td> <td>We exclude the difference between the spot rate and hedge forward rate from our effectiveness testing.</td> </tr> </table> </div> </div>

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"> Revenues from External Customers:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="6" nowrap="nowrap" align="center">Three Months Ended</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 3, 2010</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="6" nowrap="nowrap" align="center">(in thousands)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Disposable revenues</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Plasma disposables</div> </td> <td> </td> <td align="left">$</td> <td align="right">62,759</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">55,917</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Blood center disposables</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px">Platelet</div> </td> <td> </td> <td> </td> <td align="right">37,310</td> <td> </td> <td> </td> <td> </td> <td align="right">36,317</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px">Red cell</div> </td> <td> </td> <td> </td> <td align="right">11,869</td> <td> </td> <td> </td> <td> </td> <td align="right">11,314</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td align="right">49,178</td> <td> </td> <td> </td> <td> </td> <td align="right">47,631</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Hospital disposables</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px">Surgical</div> </td> <td> </td> <td> </td> <td align="right">15,742</td> <td> </td> <td> </td> <td> </td> <td align="right">16,351</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px">OrthoPAT</div> </td> <td> </td> <td> </td> <td align="right">7,754</td> <td> </td> <td> </td> <td> </td> <td align="right">8,957</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px"> Diagnostics</div> </td> <td> </td> <td> </td> <td align="right">5,615</td> <td> </td> <td> </td> <td> </td> <td align="right">4,708</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td align="right">29,111</td> <td> </td> <td> </td> <td> </td> <td align="right">30,016</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Disposables revenue</div> </td> <td> </td> <td> </td> <td align="right">141,048</td> <td> </td> <td> </td> <td> </td> <td align="right">133,564</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Software solutions</div> </td> <td> </td> <td> </td> <td align="right">18,160</td> <td> </td> <td> </td> <td> </td> <td align="right">16,460</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Equipment & other</div> </td> <td> </td> <td> </td> <td align="right">11,361</td> <td> </td> <td> </td> <td> </td> <td align="right">13,015</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Total revenues</div> </td> <td> </td> <td align="left">$</td> <td align="right">170,569</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">163,039</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div>

-215000

-7939000

292000

1500000

81821000

<div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>9. DERIVATIVES AND</b> <font style="FONT-VARIANT: small-caps"><b>FAIR VALUE MEASUREMENTS</b></font></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We manufacture, market and sell our products globally. Approximately 49% of our sales were generated outside the U.S. in local currencies. We also incur certain manufacturing, marketing and selling costs in international markets in local currency.</div> </div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> Accordingly, our earnings and cash flows are exposed to market risk from changes in foreign currency exchange rates relative to the U.S. dollar, our reporting currency.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We have a program in place that is designed to mitigate our exposure to changes in foreign currency exchange rates. That program includes the use of derivative financial instruments to minimize for a period of time, the unforeseen impact on our financial results from changes in foreign exchange rates. We utilize forward foreign currency contracts to hedge the anticipated cash flows from transactions denominated in foreign currencies, primarily the Japanese Yen and the Euro, and to a lesser extent the Swiss Franc, British Pound Sterling and the Canadian Dollar. This does not eliminate the volatility of foreign exchange rates, but because we generally enter into forward contracts one year out, rates are fixed for a one-year period, thereby facilitating financial planning and resource allocation.</div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"> <i>Designated Foreign Currency Hedge Contracts</i></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">All of our designated foreign currency hedge contracts as of July 2, 2011 and April 2, 2011 were cash flow hedges under ASC Topic 815, <i>Derivatives and Hedging</i>. We record the effective portion of any change in the fair value of designated foreign currency hedge contracts in Accumulated Other Comprehensive Income in Stockholders’ Equity until the related third-party transaction occurs. Once the related third-party transaction occurs, we reclassify the effective portion of any related gain or loss on the designated foreign currency hedge contracts to earnings. In the event the hedged forecasted transaction does not occur, or it becomes probable that it will not occur, we would reclassify the amount of any gain or loss on the related cash flow hedge to earnings at that time. We had designated foreign currency hedge contracts outstanding in the contract amount of $144.4 million as of July 2, 2011 and $154.8 million as of April 2, 2011.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">During the quarter ended July 2, 2011, we recognized net losses of $1.6 million in earnings on our cash flow hedges. All currency cash flow hedges outstanding as of July 2, 2011 mature within twelve months. For the quarter ended July 2, 2011, net losses of $0.6 million were recorded in Accumulated Other Comprehensive Income to recognize the effective portion of the fair value of any designated foreign currency hedge contracts that are, or previously were, designated as foreign currency cash flow hedges, as compared to net losses of $0.9 million as of July 3, 2010. At July 2, 2011, $1.3 million of losses, net of tax, may be reclassified to earnings within the next twelve months.</div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"> <i>Non-designated Foreign Currency Hedge Contracts</i></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We manage our exposure to changes in foreign currency on a consolidated basis to take advantage of offsetting transactions and balances. We use currency forward contracts as a part of our strategy to manage exposure related to foreign currency denominated monetary assets and liabilities. These currency forward contracts are not designated as cash flow or fair value hedges under ASC Topic 815. These forward contracts are marked-to-market with changes in fair value recorded to earnings; and are entered into for periods consistent with currency transaction exposures, generally one month. We had non-designated foreign currency hedge contracts under ASC Topic 815 outstanding in the contract amount of $47.3 million as of July 2, 2011 and $45.9 million as of April 2, 2011.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"><u>Fair Value of Derivative Instruments</u></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The following table presents the effect of our derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC Topic 815 in our consolidated statement of income for the three months ended July 2, 2011.</div> </div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Amount of Loss</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"> </td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Amount of Loss</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Reclassified</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Amount</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"> </td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Recognized</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">from AOCI into</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Location in</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Excluded from</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Location in</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">in AOCI</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Earnings</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Statement of</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Effectiveness</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Statement of</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 1px solid" nowrap="nowrap" align="left">Derivative Instruments</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">(Effective Portion)</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">(Effective Portion)</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Operations</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Testing (*)</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Operations</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2"></td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Designated foreign currency hedge contracts</div> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,323</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,637</td> <td nowrap="nowrap">)</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Net revenues,</td> <td> </td> <td>$</td> <td align="right">(41</td> <td>)</td> <td> </td> <td colspan="2" nowrap="nowrap">Other income</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="3" align="center">COGS, and</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="3" align="center">SG&A</td> <td> </td> <td nowrap="nowrap" align="left"></td> <td valign="top" align="right"></td> <td nowrap="nowrap"></td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"></td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Non-designated foreign currency hedge contracts</div> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="right">591</td> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Other expense</td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="7" align="left">    </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,323</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,637</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">550</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="7" align="left">   </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> </table> </div> <div align="left"> <div style="MARGIN-TOP: 16pt; WIDTH: 18%; FONT-SIZE: 3pt; BORDER-TOP: #000000 1px solid">  </div> </div> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(*)</td> <td> </td> <td>We exclude the difference between the spot rate and hedge forward rate from our effectiveness testing.</td> </tr> </table> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We did not have fair value hedges or net investment hedges outstanding as of July 2, 2011 or April 2, 2011.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">ASC Topic 815 requires all derivative instruments to be recognized at their fair values as either assets or liabilities on the balance sheet. We determine the fair value of our derivative instruments using the framework prescribed by ASC Topic 820, <i>Fair Value Measurements and Disclosures</i>, by considering the estimated amount we would receive or pay to sell or transfer these instruments at the reporting date and by taking into account current interest rates, currency exchange rates, the creditworthiness of the counterparty for assets, and our creditworthiness for liabilities. In certain instances, we may utilize financial models to measure fair value. Generally, we use inputs that include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; other observable inputs for the asset or liability; and inputs derived principally from, or corroborated by, observable market data by correlation or other means. As of July 2, 2011, we have classified our derivative assets and liabilities within Level 2 of the fair value hierarchy prescribed by ASC Topic 815, as discussed below, because these observable inputs are available for substantially the full term of our derivative instruments.</div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left">The following tables present the fair value of our derivative instruments as they appear in our consolidated balance sheet as of July 2, 2011 and April 2, 2011 by type of contract and whether it is a qualifying hedge under ASC Topic 815.</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="64%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Location in</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance as of</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance as of</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 1px solid" nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Balance Sheet</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">April 2, 2011</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"><b>Derivative Assets:</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Designated foreign currency hedge contracts</div> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Other current assets</td> <td> </td> <td align="left">$</td> <td align="right">2,475</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,563</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right"><b>2,475</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right"><b>2,563</b></td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"><b>Derivative Liabilities:</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Designated foreign currency hedge contracts</div> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Other accrued liabilities</td> <td> </td> <td align="left">$</td> <td align="right">3,707</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">4,174</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right"><b>3,707</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right"><b>4,174</b></td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"><u>Other Fair Value Measurements</u></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">ASC Topic 820, <i>Fair Value Measurements and Disclosures</i> defines fair value, establishes a framework for measuring fair value in accordance with U.S. GAAP, and expands disclosures about fair value measurements. ASC Topic 820 does not require any new fair value measurements; rather, it applies to other accounting pronouncements that require or permit fair value measurements. In accordance with ASC Topic 820, for the three months ended July 2, 2011, we applied the requirements under ASC Topic 820 to our non-financial assets and non-financial liabilities. As we did not have an impairment of any non-financial assets or non-financial liabilities, there was no disclosure required relating to our non-financial assets or non-financial liabilities.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">On a recurring basis, we measure certain financial assets and financial liabilities at fair value, including our money market funds, foreign currency derivative contracts, and contingent consideration. ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. We base fair value upon quoted market prices, where available. Where quoted market prices or other observable inputs are not available, we apply valuation techniques to estimate fair value.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">ASC Topic 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The categorization of assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy are defined as follows:</div> <div style="MARGIN-TOP: 6pt"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="BACKGROUND: none transparent scroll repeat 0% 0%; COLOR: #000000; FONT-SIZE: 10pt" valign="top"> <td style="BACKGROUND: none transparent scroll repeat 0% 0%" width="4%"> </td> <td width="3%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>Level 1 — Inputs to the valuation methodology are quoted market prices for identical assets or liabilities.</td> </tr> <tr> <td style="FONT-SIZE: 6pt"> </td> </tr> <tr style="BACKGROUND: none transparent scroll repeat 0% 0%; COLOR: #000000; FONT-SIZE: 10pt" valign="top"> <td style="BACKGROUND: none transparent scroll repeat 0% 0%" width="4%"> </td> <td width="3%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>Level 2 — Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets or liabilities and market-corroborated inputs.</td> </tr> <tr> <td style="FONT-SIZE: 6pt"> </td> </tr> <tr style="BACKGROUND: none transparent scroll repeat 0% 0%; COLOR: #000000; FONT-SIZE: 10pt" valign="top"> <td style="BACKGROUND: none transparent scroll repeat 0% 0%" width="4%"> </td> <td width="3%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>Level 3 — Inputs to the valuation methodology are unobservable inputs based on management’s best estimate of inputs market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk.</td> </tr> </table> </div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">Our money market funds carried at fair value are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We recognize all derivative financial instruments in our consolidated financial statements at fair value in accordance with ASC Topic 815, <i>Derivatives and Hedging</i>. We determine the fair value of these instruments using the framework prescribed by ASC Topic 820 by considering the estimated amount we would receive or pay to terminate these agreements at the reporting date and by taking into account current spot rates, the creditworthiness of the counterparty for assets, and our creditworthiness for liabilities. We have classified our foreign currency hedge contracts within Level 2 of the fair value hierarchy because these observable inputs are available for substantially the full term of our derivative instruments. For the quarter ended July 2, 2011, we have classified our other liabilities — contingent consideration relating to our acquisition of Neoteric within Level 3 of the fair value hierarchy because the value is determined using significant unobservable inputs.</div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><i>Fair Value Measured on a Recurring Basis</i></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of July 2, 2011:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="36%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Significant</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Quoted Market</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Other</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Significant</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Prices for</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Observable</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Unobservable</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Identical Assets</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Inputs</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Inputs</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 0px solid" nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">(Level 1)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">(Level 2)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">(Level 3)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">Total</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> <b>Assets</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Money market funds</div> </td> <td> </td> <td align="right">$</td> <td align="right">170,823</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">170,823</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Forward currency exchange contracts</div> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">2,475</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">2,475</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="15" align="left"> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="right">$</td> <td align="right">170,823</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">2,475</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">173,298</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="15" align="left"> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> <b>Liabilities</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Forward currency exchange contracts</div> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">3,707</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">3,707</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Other liabilities — contingent consideration</div> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">2,338</td> <td> </td> <td> </td> <td> </td> <td align="right">2,338</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="15" align="left"> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">3,707</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">2,338</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">6,045</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="15" align="left"> </td> </tr> </table> </div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">Level 3 liabilities consists of the contingent consideration liability that is solely related to the Neoteric acquisition and is calculated based on estimated annual revenue growth for the three years following the acquisition at established profitability thresholds and is not limited. The fair value of the liability is determined using probability weighted projected revenues and earnings through the ending in fiscal year 2012 that are discounted to present value based on a risk-weighted expected rate of return. The table below provides a reconciliation of the beginning and ending Level 3 liabilities for the three months ended July 2, 2011.</div> </div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="88%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Fair Value</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Measurements</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Using Significant</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Unobservable</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Inputs</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 0px solid" nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">(Level 3)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Beginning balance</div> </td> <td> </td> <td align="left">$</td> <td align="right">2,284</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Accretion of interest expense on contingent consideration</div> </td> <td> </td> <td> </td> <td align="right">89</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Change in value</div> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(35</td> <td nowrap="nowrap">)</td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Ending balance</div> </td> <td> </td> <td align="left">$</td> <td align="right">2,338</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"> <i>Other Fair Value Disclosures</i></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The fair value of our long-term debt obligations, which was estimated using quoted market prices for the same or similar instruments, was $3.9 million and $4.1 million at July 2, 2011 and April 2, 2011, respectively.</div> </div> </div>

1705000

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"> <b>11</b><font style="FONT-VARIANT: small-caps"><b>. C</b></font><b>OMMITMENTS AND CONTINGENCIES</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We are presently engaged in various legal actions, and although ultimate liability cannot be determined at the present time, we believe, based on consultation with counsel, that any such liability will not materially affect our consolidated financial position or our results of operations.</div> </div>

<div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> <b>12</b> <font style="FONT-VARIANT: small-caps"><b>. SEGMENT INFORMATION</b></font></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> <i>Segment Definition Criteria</i></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We manage our business on the basis of one operating segment: the design, manufacture, and marketing of blood management solutions. Our chief operating decision-maker uses consolidated results to make operating and strategic decisions. Manufacturing processes, as well as the regulatory environment in which we operate, are largely the same for all product lines.</div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"> <i>Enterprise Wide Disclosures about Product and Services</i></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We have four global product families: plasma, blood center, hospital, and software solutions.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> Disposables (single-use sterile kits used in our devices for collection or salvage of blood products) are marketed in our plasma, blood center, and hospital product businesses. Plasma disposables are used with our PCS<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: text-top">®</sup>2 devices to perform apheresis for the collection of plasma to be used as a raw material for biologically derived pharmaceuticals (also known as source plasma). Blood center disposables are used with our MCS+ device to collect one or more blood components (principally platelets but also red cells and plasma) for transfusion to patients. The Hospital business consists of disposables used with our Cell Saver<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: text-top">®</sup> and cardioPAT<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: text-top">®</sup> devices to recover red cells from blood lost in a surgical procedure so that these may be made available for reinfusion to the patient (“autotransfusion”). OrthoPAT<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: text-top">®</sup> disposables are used for autotransfusion during and immediately following orthopedic surgeries. Diagnostics products principally reflect sales of diagnostic reagents and the TEG<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: text-top">®</sup> Thrombelastograph<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: text-top">®</sup> hemostasis analyzer which profiles a patient’s blood clotting characteristics.</div> </div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">Software solutions include information technology platforms that assist blood centers, plasma centers, and hospitals to more effectively manage regulatory compliance and operational efficiency.</div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"> Revenues from External Customers:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="6" nowrap="nowrap" align="center">Three Months Ended</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 3, 2010</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="6" nowrap="nowrap" align="center">(in thousands)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Disposable revenues</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Plasma disposables</div> </td> <td> </td> <td align="left">$</td> <td align="right">62,759</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">55,917</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Blood center disposables</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px">Platelet</div> </td> <td> </td> <td> </td> <td align="right">37,310</td> <td> </td> <td> </td> <td> </td> <td align="right">36,317</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px">Red cell</div> </td> <td> </td> <td> </td> <td align="right">11,869</td> <td> </td> <td> </td> <td> </td> <td align="right">11,314</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td align="right">49,178</td> <td> </td> <td> </td> <td> </td> <td align="right">47,631</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Hospital disposables</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px">Surgical</div> </td> <td> </td> <td> </td> <td align="right">15,742</td> <td> </td> <td> </td> <td> </td> <td align="right">16,351</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px">OrthoPAT</div> </td> <td> </td> <td> </td> <td align="right">7,754</td> <td> </td> <td> </td> <td> </td> <td align="right">8,957</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 45px"> Diagnostics</div> </td> <td> </td> <td> </td> <td align="right">5,615</td> <td> </td> <td> </td> <td> </td> <td align="right">4,708</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td align="right">29,111</td> <td> </td> <td> </td> <td> </td> <td align="right">30,016</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Disposables revenue</div> </td> <td> </td> <td> </td> <td align="right">141,048</td> <td> </td> <td> </td> <td> </td> <td align="right">133,564</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Software solutions</div> </td> <td> </td> <td> </td> <td align="right">18,160</td> <td> </td> <td> </td> <td> </td> <td align="right">16,460</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Equipment & other</div> </td> <td> </td> <td> </td> <td align="right">11,361</td> <td> </td> <td> </td> <td> </td> <td align="right">13,015</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Total revenues</div> </td> <td> </td> <td align="left">$</td> <td align="right">170,569</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">163,039</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div> </div>

0.0165

27131000

41067

18945000

<div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"><b>3. EARNINGS PER SHARE (“EPS”)</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations. Basic EPS is computed by dividing net income by weighted average shares outstanding. Diluted EPS includes the effect of potentially dilutive common shares.</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="6" nowrap="nowrap" align="center">For the Three Months Ended</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 3, 2010</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="6" nowrap="nowrap" align="center">(in thousands, except per share amounts)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"><b>Basic EPS</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net income</div> </td> <td> </td> <td align="left">$</td> <td align="right">16,947</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">17,918</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Weighted average shares</div> </td> <td> </td> <td> </td> <td align="right">25,731</td> <td> </td> <td> </td> <td> </td> <td align="right">25,140</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Basic income per share</div> </td> <td> </td> <td align="left">$</td> <td align="right">0.66</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">0.71</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"><b>Diluted EPS</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net income</div> </td> <td> </td> <td align="left">$</td> <td align="right">16,947</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">17,918</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Basic weighted average shares</div> </td> <td> </td> <td> </td> <td align="right">25,731</td> <td> </td> <td> </td> <td> </td> <td align="right">25,140</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net effect of common stock equivalents</div> </td> <td> </td> <td> </td> <td align="right">485</td> <td> </td> <td> </td> <td> </td> <td align="right">563</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Diluted weighted average shares</div> </td> <td> </td> <td> </td> <td align="right">26,216</td> <td> </td> <td> </td> <td> </td> <td align="right">25,703</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Diluted income per share</div> </td> <td> </td> <td align="left">$</td> <td align="right">0.65</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">0.70</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">Weighted average shares outstanding, assuming dilution, excludes the impact of 0.5 million and 1.0 million stock options for the first quarter of fiscal year 2012 and 2011, respectively, because these securities were anti-dilutive during the noted periods.</div> </div>

1849000

23693000

2401000

<div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">A summary of the components of other comprehensive income is as follows:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="6" nowrap="nowrap" align="center"><b>For the three months ended</b></td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 1px solid" nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center"><b>July 2, 2011</b></td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center"><b>July 3, 2010</b></td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net income</div> </td> <td> </td> <td align="left">$</td> <td align="right">16,947</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">17,918</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Other comprehensive income:</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net change in minimum pension liability, net of tax</div> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(21</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(49</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Foreign currency translation</div> </td> <td> </td> <td> </td> <td align="right">1,705</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(4,247</td> <td nowrap="nowrap">)</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Unrealized gain/(loss) on cash flow hedges, net of tax</div> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,323</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">450</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> Reclassifications into earnings of cash flow hedge (gains)/losses, net of tax</div> </td> <td> </td> <td> </td> <td align="right">1,637</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(31</td> <td nowrap="nowrap">)</td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Total comprehensive income</div> </td> <td> </td> <td align="left">$</td> <td align="right">18,945</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">14,041</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div>

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>1. BASIS OF PRESENTATION</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">Our accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of our management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. All significant intercompany transactions have been eliminated. Certain reclassifications were made to prior year balances to conform with the presentation of the financial statements for the three months ended July 2, 2011. Operating results for the three month period ended July 2, 2011 are not necessarily indicative of the results that may be expected for the full fiscal year ending March 31, 2012, or any other interim period. These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements and footnotes included in our annual report on Form 10-K for the fiscal year ended April 2, 2011.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated, and these financial statements reflect those material items that arose after the balance sheet date but prior to the issuance of the financial statements that would be considered recognized subsequent events. There were no material recognized subsequent events recorded in the July 2, 2011 consolidated financial statements.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">Our fiscal year ends on the Saturday closest to the last day of March. Fiscal year 2012 and 2011 include 52 weeks with all four quarters each having 13 weeks.</div> </div>

0.65

<div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations. Basic EPS is computed by dividing net income by weighted average shares outstanding. Diluted EPS includes the effect of potentially dilutive common shares.</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="6" nowrap="nowrap" align="center">For the Three Months Ended</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 3, 2010</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="6" nowrap="nowrap" align="center">(in thousands, except per share amounts)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"><b>Basic EPS</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net income</div> </td> <td> </td> <td align="left">$</td> <td align="right">16,947</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">17,918</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Weighted average shares</div> </td> <td> </td> <td> </td> <td align="right">25,731</td> <td> </td> <td> </td> <td> </td> <td align="right">25,140</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Basic income per share</div> </td> <td> </td> <td align="left">$</td> <td align="right">0.66</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">0.71</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"><b>Diluted EPS</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net income</div> </td> <td> </td> <td align="left">$</td> <td align="right">16,947</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">17,918</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Basic weighted average shares</div> </td> <td> </td> <td> </td> <td align="right">25,731</td> <td> </td> <td> </td> <td> </td> <td align="right">25,140</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net effect of common stock equivalents</div> </td> <td> </td> <td> </td> <td align="right">485</td> <td> </td> <td> </td> <td> </td> <td align="right">563</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Diluted weighted average shares</div> </td> <td> </td> <td> </td> <td align="right">26,216</td> <td> </td> <td> </td> <td> </td> <td align="right">25,703</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Diluted income per share</div> </td> <td> </td> <td align="left">$</td> <td align="right">0.65</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">0.70</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div>

-7900000

1387000

-56000

106000

-1323000

<div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The following summarizes the restructuring activity for the three months ended July 2, 2011 and July 3, 2010, respectively:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 0px solid" nowrap="nowrap" align="left">(Dollars in thousands)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 0px solid" colspan="18" nowrap="nowrap" align="center">Three Months Ended July 2, 2011</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Restructuring</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Accrual</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance at</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Asset</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance at</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">April 2, 2011</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Cost Incurred</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Payments</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Write down</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Employee-related costs</div> </td> <td> </td> <td align="left">$</td> <td align="right">2,782</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">137</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,436</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,483</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Facility related costs</div> </td> <td> </td> <td> </td> <td align="right">889</td> <td> </td> <td> </td> <td> </td> <td align="right">200</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(342</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">747</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="left">$</td> <td align="right">3,671</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">337</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,778</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,230</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 0px solid" nowrap="nowrap" align="left">(Dollars in thousands)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 0px solid" colspan="18" nowrap="nowrap" align="center">Three Months Ended July 3, 2010</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Restructuring</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Accrual</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance at</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Asset</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance at</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">April 3, 2010</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Cost Incurred</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Payments</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Write down</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 3, 2010</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Employee-related costs</div> </td> <td> </td> <td align="left">$</td> <td align="right">9,761</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,245</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(2,899</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">8,107</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="left">$</td> <td align="right">9,761</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,245</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(2,899</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">8,107</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div>

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left">The following tables present the fair value of our derivative instruments as they appear in our consolidated balance sheet as of July 2, 2011 and April 2, 2011 by type of contract and whether it is a qualifying hedge under ASC Topic 815.</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="64%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Location in</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance as of</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance as of</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 1px solid" nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Balance Sheet</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">April 2, 2011</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"><b>Derivative Assets:</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Designated foreign currency hedge contracts</div> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Other current assets</td> <td> </td> <td align="left">$</td> <td align="right">2,475</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,563</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right"><b>2,475</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right"><b>2,563</b></td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"><b>Derivative Liabilities:</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Designated foreign currency hedge contracts</div> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Other accrued liabilities</td> <td> </td> <td align="left">$</td> <td align="right">3,707</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">4,174</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right"><b>3,707</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right"><b>4,174</b></td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div>

361000

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>6. COMPREHENSIVE INCOME</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> Comprehensive income is the total of net income and all other non-owner changes in stockholders’ equity. Other non-owner changes are primarily foreign currency translation, the change in our net minimum pension liability, and the changes in fair value of the effective portion of our outstanding cash flow hedge contracts.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">A summary of the components of other comprehensive income is as follows:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="6" nowrap="nowrap" align="center"><b>For the three months ended</b></td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 1px solid" nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center"><b>July 2, 2011</b></td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center"><b>July 3, 2010</b></td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net income</div> </td> <td> </td> <td align="left">$</td> <td align="right">16,947</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">17,918</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Other comprehensive income:</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Net change in minimum pension liability, net of tax</div> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(21</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(49</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Foreign currency translation</div> </td> <td> </td> <td> </td> <td align="right">1,705</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(4,247</td> <td nowrap="nowrap">)</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Unrealized gain/(loss) on cash flow hedges, net of tax</div> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,323</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">450</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> Reclassifications into earnings of cash flow hedge (gains)/losses, net of tax</div> </td> <td> </td> <td> </td> <td align="right">1,637</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(31</td> <td nowrap="nowrap">)</td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Total comprehensive income</div> </td> <td> </td> <td align="left">$</td> <td align="right">18,945</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">14,041</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div>

17.68

16947000

<div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We estimate our potential warranty expense based on our historical warranty experience, and we periodically assess the adequacy of our warranty accrual and make adjustments as necessary.</div> </div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="6" nowrap="nowrap" align="center"><b>For the three months ended</b></td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 3, 2010</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="6" nowrap="nowrap" align="center">(in thousands)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Warranty accrual as of the beginning of the period</div> </td> <td> </td> <td align="left">$</td> <td align="right">1,273</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">903</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Warranty provision</div> </td> <td> </td> <td> </td> <td align="right">278</td> <td> </td> <td> </td> <td> </td> <td align="right">435</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Warranty spending</div> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(292</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(459</td> <td nowrap="nowrap">)</td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Warranty accrual as of the end of the period</div> </td> <td> </td> <td align="left">$</td> <td align="right">1,259</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">879</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div> </div>

337000

8609000

313000

-89000

2400000

500000

<div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The table below provides a reconciliation of the beginning and ending Level 3 liabilities for the three months ended July 2, 2011.</div> </div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="88%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Fair Value</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Measurements</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Using Significant</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Unobservable</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Inputs</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 0px solid" nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">(Level 3)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Beginning balance</div> </td> <td> </td> <td align="left">$</td> <td align="right">2,284</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Accretion of interest expense on contingent consideration</div> </td> <td> </td> <td> </td> <td align="right">89</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Change in value</div> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(35</td> <td nowrap="nowrap">)</td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Ending balance</div> </td> <td> </td> <td align="left">$</td> <td align="right">2,338</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div> </div>

278000

11801000

0.66

<div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"> <b>13</b><font style="FONT-VARIANT: small-caps"><b>. REORGANIZATION</b></font></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">On April 1, 2010, our Board of Directors approved transformation and restructuring plans, which primarily include the integration of Global Med Technologies, Inc. for the periods presented.</div> </div> <div style="FONT-FAMILY: 'Times New Roman',Times,serif"> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The following summarizes the restructuring activity for the three months ended July 2, 2011 and July 3, 2010, respectively:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 0px solid" nowrap="nowrap" align="left">(Dollars in thousands)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 0px solid" colspan="18" nowrap="nowrap" align="center">Three Months Ended July 2, 2011</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Restructuring</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Accrual</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance at</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Asset</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance at</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">April 2, 2011</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Cost Incurred</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Payments</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Write down</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Employee-related costs</div> </td> <td> </td> <td align="left">$</td> <td align="right">2,782</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">137</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,436</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,483</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Facility related costs</div> </td> <td> </td> <td> </td> <td align="right">889</td> <td> </td> <td> </td> <td> </td> <td align="right">200</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(342</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">747</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="left">$</td> <td align="right">3,671</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">337</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,778</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,230</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 0px solid" nowrap="nowrap" align="left">(Dollars in thousands)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 0px solid" colspan="18" nowrap="nowrap" align="center">Three Months Ended July 3, 2010</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Restructuring</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Accrual</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance at</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Asset</td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center">Balance at</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">April 3, 2010</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Cost Incurred</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Payments</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">Write down</td> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 3, 2010</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Employee-related costs</div> </td> <td> </td> <td align="left">$</td> <td align="right">9,761</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,245</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(2,899</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">8,107</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="left">$</td> <td align="right">9,761</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,245</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(2,899</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">8,107</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div> </div>

11988000

356000

23908000

102000

170569000

-9000

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>7. INVENTORIES</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> Inventories are stated at the lower of cost or market and include the cost of material, labor and manufacturing overhead. Cost is determined on the first-in, first-out method.</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">April 2, 2011</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="6" nowrap="nowrap" align="center">(in thousands)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Raw materials</div> </td> <td> </td> <td align="left">$</td> <td align="right">30,368</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">26,404</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> Work-in-process</div> </td> <td> </td> <td> </td> <td align="right">5,195</td> <td> </td> <td> </td> <td> </td> <td align="right">4,352</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Finished goods</div> </td> <td> </td> <td> </td> <td align="right">59,397</td> <td> </td> <td> </td> <td> </td> <td align="right">53,631</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="left">$</td> <td align="right">94,960</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">84,387</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div>

21000

<div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The assumptions utilized for stock option grants during the periods presented are as follows:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="7" nowrap="nowrap" align="center">Three Months Ended</td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">July 2, 2011</td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">July 3, 2010</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Stock Options Black-Scholes assumptions (weighted average):</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Volatility</div> </td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">27.20</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">28.34</td> <td nowrap="nowrap">%</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Expected life (years)</div> </td> <td> </td> <td> </td> <td align="right">4.9</td> <td> </td> <td> </td> <td> </td> <td align="right">5.0</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Risk-free interest rate</div> </td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">1.65</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">2.64</td> <td nowrap="nowrap">%</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Dividend yield</div> </td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">0.00</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">0.00</td> <td nowrap="nowrap">%</td> </tr> </table> </div> </div>

700000

-7993000

4.9

3059000

56231000

6746000

<div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> Inventories are stated at the lower of cost or market and include the cost of material, labor and manufacturing overhead. Cost is determined on the first-in, first-out method.</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">July 2, 2011</td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="2" nowrap="nowrap" align="center">April 2, 2011</td> <td> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="6" nowrap="nowrap" align="center">(in thousands)</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Raw materials</div> </td> <td> </td> <td align="left">$</td> <td align="right">30,368</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">26,404</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> Work-in-process</div> </td> <td> </td> <td> </td> <td align="right">5,195</td> <td> </td> <td> </td> <td> </td> <td align="right">4,352</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Finished goods</div> </td> <td> </td> <td> </td> <td align="right">59,397</td> <td> </td> <td> </td> <td> </td> <td align="right">53,631</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="left">$</td> <td align="right">94,960</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">84,387</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> </tr> </table> </div> </div>

20184000

25731000

368000

0.00

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>10. INCOME TAXES</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The Company’s reported tax rate was 28.5% for the three month period ended July 2, 2011, and 26.5% for the three month period ended July 3, 2010. Our reported tax rate is lower than the federal statutory tax rate in both periods reported primarily due to lower foreign tax rates, including tax benefits associated with our Swiss operations. The reported tax rate was higher for the three months ended July 2, 2011 as compared to the prior year primarily due to a $0.8 million benefit recorded during the three months ended July 3, 2010 from the release of a foreign reserve as a result of a foreign jurisdictional ruling.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">We conduct business globally and, as a result, file consolidated federal, consolidated and separate state and foreign income tax returns in multiple jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world in jurisdictions including the U.S., Japan, Germany, France, the United Kingdom, and Switzerland. With few exceptions, we are no longer subject to U.S. federal, state and local, or foreign income tax examinations for years before 2007.</div> </div> </div>

-1637000

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>8. ACQUISITIONS</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> <b><i>ACCS Acquisition</i></b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">On December 28, 2010, Haemonetics acquired certain assets of Applied Critical Care Services, Inc. (ACCS) for $6.4 million. This transaction was accounted for as an acquisition of a business. ACCS was a manufacturer’s representative for Haemonetics engaged in the selling and servicing of the TEG product line. The purchase price allocation, which was finalized during the three months ended July 2, 2011, was as follows: $4.3 million in customer relationships; $0.6 million of other liabilities; and $2.7 million in goodwill.</div> </div>

10288000

64840000

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>4. STOCK-BASED COMPENSATION</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> Stock-based compensation expense of $2.4 million and $2.2 million was recognized for the three months ended July 2, 2011 and July 3, 2010, respectively. The related income tax benefit recognized was $0.7 million and $0.5 million for the three months ended July 2, 2011 and July 3, 2010, respectively.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The weighted average fair value for stock options granted in the first three months of fiscal year 2012 and 2011 was $17.68 and $17.48, respectively. The assumptions utilized for stock option grants during the periods presented are as follows:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="7" nowrap="nowrap" align="center">Three Months Ended</td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">July 2, 2011</td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">July 3, 2010</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Stock Options Black-Scholes assumptions (weighted average):</div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Volatility</div> </td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">27.20</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">28.34</td> <td nowrap="nowrap">%</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Expected life (years)</div> </td> <td> </td> <td> </td> <td align="right">4.9</td> <td> </td> <td> </td> <td> </td> <td align="right">5.0</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Risk-free interest rate</div> </td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">1.65</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">2.64</td> <td nowrap="nowrap">%</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 30px">Dividend yield</div> </td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">0.00</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">0.00</td> <td nowrap="nowrap">%</td> </tr> </table> </div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">During the three months ended July 2, 2011 and July 3, 2010, there were 41,067 and 35,992 shares purchased under the ESPP, respectively. They were purchased at $46.80 and $45.70 per share under the ESPP, respectively.</div> </div>

0.285

-609000

<div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>14. CAPITALIZATION OF SOFTWARE DEVELOPMENT COSTS</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">For costs incurred related to the development of software to be sold, leased, or otherwise marketed, the Company applies the provisions of ASC Topic 985-20, <i>Software</i>, which specifies that costs incurred internally in researching and developing a computer software product should be charged to expense until technological feasibility has been established for the product. Once technological feasibility is established, all software costs should be capitalized until the product is available for general release to customers.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">The Company capitalized $1.5 million and $1.2 million in other software development costs for ongoing initiatives during three month period ended July 2, 2011 and July 3, 2010, respectively. At July 2, 2011 and April 2, 2011, we have a total of $10.8 million and $13.4 million, respectively, of costs capitalized related to in process software development initiatives, respectively. During the first quarter of fiscal year 2012, $4.1 million of capitalized costs related to one project were placed into service. The costs capitalized for each project are included in intangible assets in the consolidated financial statements.</div> </div>

26216000

4467000

<div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left"> Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of July 2, 2011:</div> <div align="center"> <table style="FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"> <td width="36%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Significant</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Quoted Market</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Other</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Significant</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Prices for</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Observable</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Unobservable</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Identical Assets</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Inputs</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center">Inputs</td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> </tr> <tr style="FONT-SIZE: 8pt" valign="bottom"> <td style="BORDER-BOTTOM: #000000 0px solid" nowrap="nowrap" align="left"><i>(in thousands)</i></td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">(Level 1)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">(Level 2)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">(Level 3)</td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" colspan="3" nowrap="nowrap" align="center">Total</td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> <b>Assets</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Money market funds</div> </td> <td> </td> <td align="right">$</td> <td align="right">170,823</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">170,823</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Forward currency exchange contracts</div> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">2,475</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">2,475</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="15" align="left"> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="right">$</td> <td align="right">170,823</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">2,475</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">173,298</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="15" align="left"> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> <b>Liabilities</b></div> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Forward currency exchange contracts</div> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">3,707</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">3,707</td> <td> </td> </tr> <tr style="BACKGROUND: #cceeff" valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px">Other liabilities — contingent consideration</div> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">2,338</td> <td> </td> <td> </td> <td> </td> <td align="right">2,338</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 1px solid" colspan="15" align="left"> </td> </tr> <tr valign="bottom"> <td> <div style="TEXT-INDENT: -15px; MARGIN-LEFT: 15px"> </div> </td> <td> </td> <td align="right">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">3,707</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">2,338</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">6,045</td> <td> </td> </tr> <tr style="FONT-SIZE: 1px"> <td> </td> <td> </td> <td style="BORDER-TOP: #000000 3px double" colspan="15" align="left"> </td> </tr> </table> </div> </div>

1778000

0.2720

485000

3150000 <div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"><b>2. NEW ACCOUNTING PRONOUNCEMENTS</b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">In May 2011, the FASB issued Accounting Standards Update No. 2011-04, <i>Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs.</i> Update No. 2011-04 updates the accounting guidance related to fair value measurements that results in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between U.S. GAAP and International Financial Reporting Standards (IFRS). The updated guidance is effective for interim and annual periods beginning after December 15, 2011. Early application is not permitted. We are currently evaluating the potential impact of Update No. 2011-04 on our consolidated financial statements. This statement is effective for our fourth quarter of fiscal year 2012.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">In June 2011, the FASB issued Accounting Standards Update No. 2011-05, <i>Comprehensive Income (Topic 220): Presentation of Comprehensive Income</i>. Update No. 2011-05 updates the disclosure requirements for comprehensive income to include total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The updated guidance does not affect how earnings per share is calculated or presented. The updated guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, and should be applied retrospectively. Early adoption is permitted and amendments do not require any transition disclosures. This statement is effective in our first quarter of fiscal year 2013.</div> <div style="MARGIN-TOP: 12pt; FONT-SIZE: 10pt" align="left"> <b><i>Standards Implemented</i></b></div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">In October 2009, the FASB issued Accounting Standards Update No. 2009-13, <i>Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements</i>, and Accounting Standards Update No. 2009-14, <i>Software (Topic 985): Certain Revenue Arrangements That Include Software</i> (the “Updates”). The Updates provide guidance on arrangements that include software elements, including tangible products that have software components that are essential to the functionality of the tangible product and will no longer be within the scope of the software revenue recognition guidance, and software-enabled products that will now be subject to other relevant revenue recognition guidance. The Updates also provide authoritative guidance on revenue arrangements with multiple deliverables that are outside the scope of the software revenue recognition guidance. Under the new guidance, when vendor specific objective evidence or third party evidence of fair value for deliverables in an arrangement cannot be determined, a best estimate of the selling price is required to allocate arrangement consideration using the relative selling price method. The Updates also include new disclosure requirements on how the application of the relative selling price method affects the timing and amount of revenue recognition. On April 3, 2011, the Company adopted this guidance, which did not have a material impact on our financial position and results of operations.</div> <div style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt" align="left">In December 2010, the FASB issued Accounting Standards Update No. 2010-29, <i>Business Combinations (Topic 805): Disclosure of Supplementary Pro Forma Information for Business Combinations</i>. Update No. 2010-29 clarifies paragraph 805-10-50-2(h) to require public entities that enter into business combinations that are material on an individual or aggregate basis to disclose pro forma information for such business combinations that occurred in the current reporting period, including pro forma revenue and earnings of the combined entity as though the acquisition date had been as of the beginning of the comparable prior annual reporting period only. We did not complete any material business acquisitions during the three months ended July 2, 2011 thus the disclosure requirements were not applicable for the period.</div> </div> 46.80

-41000

-1323000

-1637000

600000

141048000

11361000

62759000

49178000

37310000

11869000

29111000

15742000

5615000

7754000

18160000

0.49

591000

1600000

1300000

-35000

89000

137000

1436000

200000

342000

550000

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