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EYE » Topics » Pro-forma Disclosures under SFAS 123 for Periods Prior to Fiscal 2006

These excerpts taken from the EYE 10-K filed Mar 3, 2008.

Pro-forma Disclosures under SFAS 123 for Periods Prior to Fiscal 2006

The following table illustrates the effect on net loss and net loss per share as if the Company had applied the fair value recognition provisions of SFAS 123 to stock-based compensation during the year ended December 31, 2005 (in thousands, except per share amounts):

 

     2005  

Net loss:

   

As reported:

    $ (453,197 )

Stock-based compensation expense included in reported net earnings , net of tax

      834  

Stock-based compensation expense determined under fair value based method, net of tax

      (11,800 )
        

Pro forma net loss

    $ (464,163 )
        

Loss per share:

   

As reported – basic and diluted

    $ (8.28 )
        

Pro forma – basic and diluted

    $ (8.48 )
        

For the purpose of the weighted-average estimated fair value calculations, the fair value of the Company’s stock-based compensation granted to employees for the year ended December 31, 2005 was estimated using the following weighted-average assumptions:

 

     Stock Options     ESPP  
     2005     2005  

Expected life (in years)

    5.0     0.5  

Expected volatility

    36.0 %   35.3 %

Risk-free interest rate

    3.8 %   3.9 %

Expected dividends

    —       —    

 

89

Table of Contents

The weighted average fair value of options granted under the ICP was $14.52 for the year ended December 31, 2005. Under the ESPP, the weighted average fair value of grants was $9.09 for the year ended December 31, 2005.

Pro-forma Disclosures under SFAS 123 for Periods Prior to Fiscal 2006

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">The following table illustrates the effect on net loss and net loss per share as if the Company had applied the fair value recognition provisions of SFAS
123 to stock-based compensation during the year ended December 31, 2005 (in thousands, except per share amounts):

 























































































   2005 

Net loss:

  

As reported:

  $(453,197)

Stock-based compensation expense included in reported net earnings , net of tax

   834 

Stock-based compensation expense determined under fair value based method, net of tax

   (11,800)
     

Pro forma net loss

  $(464,163)
     

Loss per share:

  

As reported – basic and diluted

  $(8.28)
     

Pro forma – basic and diluted

  $(8.48)
     

For the purpose of the weighted-average estimated fair value calculations, the fair value of the
Company’s stock-based compensation granted to employees for the year ended December 31, 2005 was estimated using the following weighted-average assumptions:

 




























































   Stock Options  ESPP 
   2005  2005 

Expected life (in years)

  5.0  0.5 

Expected volatility

  36.0% 35.3%

Risk-free interest rate

  3.8% 3.9%

Expected dividends

  —    —   

 


89






Table of Contents


The weighted average fair value of options granted under the ICP was $14.52 for the year ended
December 31, 2005. Under the ESPP, the weighted average fair value of grants was $9.09 for the year ended December 31, 2005.

This excerpt taken from the EYE 8-K filed May 2, 2007.

Pro-forma Disclosures under SFAS 123 for Periods Prior to Fiscal 2006

The following table illustrates the effect on net loss and net loss per share as if the Company had applied the fair value recognition provisions of SFAS 123 to stock-based compensation during the years ended December 31, 2005 and 2004 (in thousands, except per share amounts):

 

     2005     2004  

Net loss:

     

As reported:

    $ (453,197 )   $ (129,370 )

Stock-based compensation expense included in reported net earnings , net of tax

      834       99  

Stock-based compensation expense determined under fair value based method, net of tax

      (11,800 )     (7,117 )
                

Pro forma net loss

    $ (464,163 )   $ (136,388 )
                

Loss per share:

     

As reported:

     

Basic

    $ (8.28 )   $ (3.89 )
                

Diluted

    $ (8.28 )   $ (3.89 )
                

Pro forma:

     

Basic

    $ (8.48 )   $ (4.10 )
                

Diluted

    $ (8.48 )   $ (4.10 )
                

For the purpose of the weighted-average estimated fair value calculations, the fair value of the Company’s stock-based compensation granted to employees for the years ended December 31, 2005 and 2004 was estimated using the following weighted-average assumptions:

 

     Stock Options     ESPP  
     2005     2004     2005     2004  

Expected life (in years)

    5.0     4.9     0.5     0.5  

Expected volatility

    36.0 %   42.3 %   35.3 %   37.3 %

Risk-free interest rate

    3.8 %   3.8 %   3.9 %   1.2 %

Expected dividends

    —       —       —       —    

 

32

The weighted average fair value of options granted under the ICP was $14.52 and $14.05 for the years ended December 31, 2005 and 2004, respectively. Under the ESPP, the weighted average fair value of grants was $9.09 and $6.35 for the years ended December 31, 2005 and 2004, respectively.

This excerpt taken from the EYE 10-Q filed May 10, 2006.

Pro-forma Disclosures under SFAS 123 for Periods Prior to Fiscal 2006

 

The following table illustrates the effect on net earnings and net earnings per share as if we had applied the fair value recognition provisions of SFAS 123 to stock-based compensation during the three-month period ended March 25, 2005 (in thousands, except per share amounts):

 

 

 

Three Months Ended
March 25, 2005

 

Net earnings, as reported

 

$

13,826

 

Stock-based compensation expense included in reported net earnings, net of tax

 

44

 

Stock-based compensation expense determined under fair value based method, net of tax

 

(2,297

)

Pro forma net earnings

 

$

11,573

 

Earnings per share as reported:

 

 

 

Basic

 

$

0.37

 

Diluted

 

$

0.35

 

Pro forma earnings per share:

 

 

 

Basic

 

$

0.31

 

Diluted

 

$

0.29

 

 

There were no stock options or ESPP grants during the three months ended March 25, 2005, accordingly, there was no determination of fair value during this period.

 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 3, 2008
8-K
May 2, 2007
10-Q
May 10, 2006

RELATED TOPICS for EYE:

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