Intevac (IVAC) 10-Q 4 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 04, 2015	Aug. 04, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 4, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	IVAC
Entity Registrant Name	INTEVAC INC
Entity Central Index Key	1,001,902
Current Fiscal Year End Date	--01-03
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		22,135,828

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Current assets:
Cash and cash equivalents	$ 16,217	$ 21,482
Short-term investments	31,539	29,598
Trade and other accounts receivable, net of allowances of $0 at both July 4, 2015 and at January 3, 2015	11,363	12,087
Inventories	18,517	19,212
Prepaid expenses and other current assets	1,728	1,727
Total current assets	79,364	84,106
Property, plant and equipment, net	12,360	12,826
Long-term investments	9,264	17,542
Restricted cash	1,780	1,780
Intangible assets, net of amortization of $4,848 at July 4, 2015 and $4,421 at January 3, 2015	3,539	3,966
Deferred income taxes and other long-term assets	426	55
Total assets	106,733	120,275
Current liabilities:
Accounts payable	4,169	4,640
Accrued payroll and related liabilities	3,949	3,977
Other accrued liabilities	6,249	8,277
Customer advances	557	2,551
Total current liabilities	14,924	19,445
Other long-term liabilities	2,586	2,200
Stockholders' equity:
Common stock, $0.001 par value	22	23
Additional paid-in capital	164,035	161,271
Treasury stock, 2,998 shares at July 4, 2015 and 1,426 shares at January 3, 2015	(19,268)	(9,989)
Accumulated other comprehensive income	609	619
Accumulated deficit	(56,175)	(53,294)
Total stockholders' equity	89,223	98,630
Total liabilities and stockholders' equity	$ 106,733	$ 120,275

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Net of allowances of trade, note and other accounts receivable	$ 0	$ 0
Net of amortization of intangible assets	$ 4,848	$ 4,421
Common stock, par value	$ 0.001	$ 0.001
Treasury Stock, shares	2,998	1,426

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Net revenues:
Systems and components	$ 18,646	$ 12,038	$ 36,728	$ 25,358
Technology development	1,812	2,677	3,615	6,372
Total net revenues	20,458	14,715	40,343	31,730
Cost of net revenues:
Systems and components	11,487	7,540	23,072	17,276
Technology development	1,165	1,964	2,544	4,433
Total cost of net revenues	12,652	9,504	25,616	21,709
Gross profit	7,806	5,211	14,727	10,021
Operating expenses:
Research and development	2,947	4,558	7,555	8,831
Selling, general and administrative	4,576	5,899	9,829	11,160
Total operating expenses	7,523	10,457	17,384	19,991
Income (loss) from operations	283	(5,246)	(2,657)	(9,970)
Interest income and other, net	(13)	120	66	192
Income (loss) before income taxes	270	(5,126)	(2,591)	(9,778)
Provision for (benefit from) income taxes	258	(119)	290	(250)
Net income (loss)	$ 12	$ (5,007)	$ (2,881)	$ (9,528)
Net income (loss) per share:
Basic and diluted	$ 0	$ (0.21)	$ (0.13)	$ (0.40)
Weighted average common shares outstanding:
Basic	22,630	23,927	22,929	23,892
Diluted	22,912	23,927	22,929	23,892

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Net income (loss)	$ 12	$ (5,007)	$ (2,881)	$ (9,528)
Other comprehensive income (loss), before tax:
Change in unrealized net gain on available-for-sale investments	(4)	(11)	25	(6)
Foreign currency translation gains (losses)	(35)	15	(35)	(16)
Other comprehensive income (loss), before tax	(39)	4	(10)	(22)
Income tax benefit related to items in other comprehensive income	0	0	0	0
Net current-period other comprehensive income (loss)	(39)	4	(10)	(22)
Comprehensive loss	$ (27)	$ (5,003)	$ (2,891)	$ (9,550)

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014
Operating activities
Net loss	$ (2,881)	$ (9,528)
Adjustments to reconcile net loss to net cash and cash equivalents provided by (used in) operating activities:
Depreciation and amortization	2,324	2,336
Net amortization of investment premiums and discounts	200	358
Equity-based compensation	1,663	1,363
Change in the fair value of acquisition-related contingent consideration	(200)	97
Deferred income taxes	(10)	(316)
Loss on disposal of equipment	91	0
Changes in operating assets and liabilities	(1,039)	3,066
Total adjustments	3,029	6,904
Net cash and cash equivalents provided by (used in) operating activities	148	(2,624)
Investing activities
Purchases of investments	(16,097)	(23,878)
Proceeds from sales and maturities of investments	20,200	35,076
Increase in restricted cash	0	(1,000)
Proceeds from sale of equipment	11	0
Purchases of leasehold improvements and equipment	(1,534)	(2,240)
Net cash and cash equivalents provided by investing activities	2,580	7,958
Financing activities
Net proceeds from issuance of common stock	910	1,178
Common stock repurchases	(8,868)	(1,559)
Net cash and cash equivalents used in financing activities	(7,958)	(381)
Effect of exchange rate changes on cash and cash equivalents	(35)	(15)
Net increase (decrease) in cash and cash equivalents	(5,265)	4,938
Cash and cash equivalents at beginning of period	21,482	20,121
Cash and cash equivalents at end of period	$ 16,217	$ 25,059

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 04, 2015
Basis of Presentation	1. Basis of Presentation In the opinion of management, the unaudited interim condensed consolidated financial statements of Intevac, Inc. and its subsidiaries (Intevac or the Company) included herein have been prepared on a basis consistent with the January 3, 2015 audited consolidated financial statements and include all material adjustments, consisting of normal recurring adjustments, necessary to fairly present the information set forth therein. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in Intevac’s Annual Report on Form 10-K for the fiscal year ended January 3, 2015 (“2014 Form 10-K”). Intevac’s results of operations for the six months ended July 4, 2015 are not necessarily indicative of future operating results. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make judgments, estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jul. 04, 2015
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-05, “Customers’ Accounting for Fees Paid in a Cloud Computing Arrangement,” which provides guidance in evaluating whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the software license element of the arrangement should be accounted for as an acquisition of a software license. If the arrangement does not contain a software license, it should be accounted for as a service contract. This ASU will be effective for Intevac in the first quarter of fiscal 2016 and may be adopted either retrospectively or prospectively. We are currently evaluating the impact this ASU will have on our consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, “Consolidations (Topic 810): Amendments to the Consolidation Analysis”, which amends current consolidation guidance including changes to both the variable and voting interest models used by companies to evaluate whether an entity should be consolidated. The amendments in this ASU will be effective for Intevac in the first quarter of fiscal 2016, with early adoption permitted. The adoption of this ASU will not have any effect on our consolidated financial position, results of operations or cash flows. In January 2015, the FASB issued ASU No. 2015-01, “Income Statement – Extraordinary and Unusual Items (Subtopic 225-20),” which simplifies income statement presentation by eliminating the concept of extraordinary items. This ASU will be effective for Intevac in the first quarter of fiscal 2016, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The adoption of this ASU will not have any effect on our consolidated financial position, results of operations or cash flows.

Inventories

Inventories	6 Months Ended
	Jul. 04, 2015
Inventories	3. Inventories Inventories are stated at the lower of average cost or market and consist of the following: July 4, January 3, 2015 2015 (In thousands) Raw materials $ 11,071 $ 10,684 Work-in-progress 2,076 2,299 Finished goods 5,370 6,229 $ 18,517 $ 19,212 Finished goods inventory consists primarily of completed systems at customer sites that are undergoing installation and acceptance testing and evaluation inventory.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jul. 04, 2015
Equity-Based Compensation	4. Equity-Based Compensation At July 4, 2015, Intevac had equity-based awards outstanding under the 2012 Equity Incentive Plan and the 2004 Equity Incentive Plan (the “Plans”) and the 2003 Employee Stock Purchase Plan (the “ESPP”). Intevac’s stockholders approved all of these plans. The Plans permit the grant of incentive or non-statutory stock options, restricted stock, stock appreciation rights, restricted stock units (“RSUs” also referred to as “performance units”) and performance shares. The ESPP provides that eligible employees may purchase Intevac’s common stock through payroll deductions at a price equal to 85% of the lower of the fair market value at the beginning of the applicable offering period or at the end of each applicable purchase interval. Offering periods are generally two years in length, and consist of a series of six-month purchase intervals. Eligible employees may join the ESPP at the beginning of any six-month purchase interval. Under the terms of the ESPP, employees can choose to have up to 15% of their base earnings withheld to purchase Intevac common stock. Compensation Expense The effect of recording equity-based compensation for the three and six months ended July 4, 2015 and June 28, 2014 was as follows: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 (In thousands) Equity-based compensation by type of award: Stock options $ 125 $ 153 $ 442 $ 394 RSUs 395 376 735 668 Employee stock purchase plan 280 137 486 301 Total equity-based compensation $ 800 $ 666 $ 1,663 $ 1,363 Equity-based compensation expense is based on awards ultimately expected to vest and such amount has been reduced for estimated forfeitures. Forfeitures were estimated based on Intevac’s historical experience, which Intevac believes to be indicative of Intevac’s future experience. Stock Options and ESPP The fair value of stock options and ESPP awards is estimated at the grant date using the Black-Scholes option valuation model. The determination of fair value of stock options and ESPP awards on the date of grant using an option-pricing model is affected by Intevac’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, our expected stock price volatility over the term of the awards and actual employee stock option exercise behavior. Option activity as of July 4, 2015 and changes during the six months ended July 4, 2015 were as follows: Shares Weighted Average Options outstanding at January 3, 2015 2,584,935 $ 8.26 Options granted 416,375 $ 5.55 Options cancelled and forfeited (316,349 ) $ 7.78 Options exercised (38,521 ) $ 4.38 Options outstanding at July 4, 2015 2,646,440 $ 7.94 Vested and expected to vest at July 4, 2015 2,464,503 $ 8.08 Options exercisable at July 4, 2015 1,510,867 $ 9.25 Intevac issued 201,000 shares under the ESPP during the six months ended July 4, 2015. Intevac estimated the weighted-average fair value of stock options and employee stock purchase rights using the following weighted-average assumptions: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Stock Options: Weighted-average fair value of grants per share $ 2.05 $ 3.02 $ 2.07 $ 3.14 Expected volatility 46.13 % 52.11 % 46.26 % 52.38 % Risk free interest rate 1.44 % 1.30 % 1.43 % 1.36 % Expected term of options (in years) 4.0 4.2 4.0 4.3 Dividend yield None None None None Six Months Ended July 4, 2015 June 28, 2014 Stock Purchase Rights: Weighted-average fair value of grants per share $ 2.26 $ 2.15 Expected volatility 44.05 % 43.40 % Risk free interest rate 0.39 % 0.11 % Expected term of purchase rights (in years) 1.22 0.74 Dividend yield None None The computation of the expected volatility assumptions used in the Black-Scholes calculations for new stock option grants and purchase rights is based on the historical volatility of Intevac’s stock price, measured over a period equal to the expected term of the stock option grant or purchase right. The risk-free interest rate is based on the yield available on U.S. Treasury Strips with an equivalent remaining term. The expected term of employee stock options represents the weighted-average period that the stock options are expected to remain outstanding and was determined based on historical experience of similar awards, giving consideration to the contractual terms of the equity-based awards and vesting schedules. The expected term of purchase rights represents the period of time remaining in the current offering period. The dividend yield assumption is based on Intevac’s history of not paying dividends and the assumption of not paying dividends in the future. RSUs A summary of the RSU activity is as follows: Shares Weighted Average Grant Date Fair Value Non-vested RSUs at January 3, 2015 350,429 $ 6.62 Granted 327,960 $ 6.07 Vested (102,561 ) $ 7.12 Cancelled and forfeited (23,952 ) $ 6.35 Non-vested RSUs at July 4, 2015 551,876 $ 6.21 RSUs are converted into shares of Intevac common stock upon vesting on a one-for-one basis. RSUs typically are scheduled to vest over four years. Vesting of RSUs is subject to the grantee’s continued service with Intevac. The compensation expense related to these awards is determined using the fair market value of Intevac common stock on the date of the grant, and the compensation expense is recognized over the vesting period. In fiscal 2015 and fiscal 2014, the annual bonus for certain participants in the Company’s annual incentive plan will be settled with RSUs with one year vesting. The Company accrued for the payment of bonuses at the expected company-wide payout percentage amount at July 4, 2015 and June 28, 2014, which amounts were less than the target bonus amounts for each participant. The bonus accrual is classified as a liability until the number of shares is determined on the date the awards are granted, at which time the Company classifies the awards into equity. In February 2015, the annual bonus for certain participants was settled with RSUs with one year vesting, 29 participants were granted stock awards to receive 133,000 shares of common stock with a weighted average grant date fair value of $6.85 per share. The Company recorded equity-based compensation expense related to the annual incentive plan of $123,000 and $72,000, respectively for the three and six months ended July 4, 2015 and $161,000 and $322,000, respectively for the three and six months ended June 28, 2014. Performance-based RSUs (“performance-based awards”) granted in fiscal 2013 to certain executive officers are also subject to the achievement of specified performance goals. These performance-based awards become eligible to vest only if performance goals are achieved and then actually will vest only if the grantee remains employed by Intevac through each applicable vesting date. The fair value of these performance-based awards is estimated on the date of grant and assumes that the specified performance goals will be achieved. If the goals are achieved, these awards vest over a specified remaining service period, provided that the grantee remains employed by Intevac through each scheduled vesting date. If the performance goals are not met, no compensation expense is recognized and any previously recognized compensation expense is reversed. The expected cost of each award is reflected over the service period and is reduced for estimated forfeitures. For performance-based awards granted during fiscal 2013, the performance goals require the achievement of targeted revenues and adjusted annual operating profit levels measured at the end of two and three-year periods. In early 2015, the Compensation Committee assessed performance against the goals following the completion of the 2-year performance period for Tranche 1 and determined that 5,532 shares of the awards became earned and therefore eligible for time-based vesting.

Purchased Intangible Assets

Purchased Intangible Assets	6 Months Ended
	Jul. 04, 2015
Purchased Intangible Assets	5. Purchased Intangible Assets Details of finite-lived intangible assets by segment as of July 4, 2015, are as follows. July 4, 2015 Gross Accumulated Net (In thousands) Thin-film Equipment $ 7,172 $ (4,009 ) $ 3,163 Photonics 1,215 (839 ) 376 $ 8,387 $ (4,848 ) $ 3,539 Total amortization expense of finite-lived intangibles for the three and six months ended July 4, 2015 was $213,000 and $427,000. As of July 4, 2015, future amortization expense is expected to be as follows. (In thousands) 2015 $ 427 2016 853 2017 755 2018 615 2019 615 Thereafter 274 $ 3,539

Acquisition-Related Contingent

Acquisition-Related Contingent Consideration	6 Months Ended
	Jul. 04, 2015
Acquisition-Related Contingent Consideration	6. Acquisition-Related Contingent Consideration In connection with the acquisition of Solar Implant Technologies, Inc. (“SIT”), Intevac agreed to pay to the selling shareholders in cash a revenue earnout on Intevac’s net revenue from commercial sales of certain products over a specified period up to an aggregate of $9.0 million. Intevac estimated the fair value of this contingent consideration on July 4, 2015 based on probability-based forecasted revenues reflecting Intevac’s own assumptions concerning future revenue from such products. As of July 4, 2015, payments made associated with the revenue earnout obligation have not been significant. The fair value measurement of contingent consideration is based on significant inputs not observed in the market and thus represents a Level 3 measurement. Any change in fair value of the contingent consideration subsequent to the acquisition date is recognized in operating income within the condensed consolidated statement of operations. The following table represents a reconciliation of the change in the fair value measurement of the contingent consideration liability for the three and six month periods ended July 4, 2015 and June 28, 2014: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 (In thousands) Opening balance $ 1,108 $ 1,435 $ 1,134 $ 1,384 Changes in fair value (174 ) 46 (200 ) 97 Closing balance $ 934 $ 1,481 $ 934 $ 1,481 The following table displays the balance sheet classification of the contingent consideration liability account at July 4, 2015 and at January 3, 2015: July 4, January 3, 2015 2015 (In thousands) Other accrued liabilities $ 32 $ 59 Other long-term liabilities 902 1,075 Total acquisition-related contingent consideration $ 934 $ 1,134 The following table represents the quantitative range of the significant unobservable inputs used in the calculation of fair value of the continent consideration liability as of July 4, 2015. Significant increases or decreases in any of these inputs in isolation would result in a significantly lower (higher) fair value measurement. Quantitative Information about Level 3 Fair Value Measurements at July 4, 2015 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands, except for percentages) Revenue Earnout $ 934 Discounted cash flow Weighted average cost of capital Probability weighting of achieving revenue forecasts 15.0% 20.0% - 80.0% (48.0%)

Warranty

Warranty	6 Months Ended
	Jul. 04, 2015
Warranty	7. Warranty Intevac provides for the estimated cost of warranty when revenue is recognized. Intevac’s warranty is per contract terms and for its disk manufacturing, photovoltaic (“PV”) manufacturing, and display cover panel manufacturing systems the warranty typically ranges between 12 and 24 months from customer acceptance. For systems sold through a distributor, Intevac offers a 3 month warranty. The remainder of any warranty period is the responsibility of the distributor. During this warranty period any defective non-consumable parts are replaced and installed at no charge to the customer. The warranty period on consumable parts is limited to their reasonable usable lives. Intevac uses estimated repair or replacement costs along with its historical warranty experience to determine its warranty obligation. Intevac generally provides a twelve month warranty on its Photonics’ products. The provision for the estimated future costs of warranty is based upon historical cost and product performance experience. Intevac exercises judgment in determining the underlying estimates. On the condensed consolidated balance sheets, the short-term portion of the warranty provision is included in other accrued liabilities, while the long-term portion is included in other long-term liabilities. The expense associated with product warranties issued or adjusted is included in cost of net revenues on the condensed consolidated statements of operations. The following table displays the activity in the warranty provision account for the three and six months ended July 4, 2015 and June 28, 2014: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 (In thousands) Opening balance $ 1,352 $ 1,331 $ 1,186 $ 1,647 Expenditures incurred under warranties (91 ) (217 ) (222 ) (523 ) Accruals for product warranties issued during the reporting period 203 219 600 504 Adjustments to previously existing warranty accruals (186 ) (177 ) (286 ) (472 ) Closing balance $ 1,278 $ 1,156 $ 1,278 $ 1,156 The following table displays the balance sheet classification of the warranty provision account at July 4, 2015 and at January 3, 2015: July 4, January 3, 2015 2015 (In thousands) Other accrued liabilities $ 1,037 $ 1,022 Other long-term liabilities 241 164 Total warranty provision $ 1,278 $ 1,186

Guarantees

Guarantees	6 Months Ended
	Jul. 04, 2015
Guarantees	8. Guarantees Officer and Director Indemnifications As permitted or required under Delaware law and to the maximum extent allowable under that law, Intevac has certain obligations to indemnify its current and former officers and directors for certain events or occurrences while the officer or director is, or was serving, at Intevac’s request in such capacity. These indemnification obligations are valid as long as the director or officer acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The maximum potential amount of future payments Intevac could be required to make under these indemnification obligations is unlimited; however, Intevac has a director and officer insurance policy that mitigates Intevac’s exposure and enables Intevac to recover a portion of any future amounts paid. As a result of Intevac’s insurance policy coverage, Intevac believes the estimated fair value of these indemnification obligations is not material. Other Indemnifications As is customary in Intevac’s industry, many of Intevac’s contracts provide remedies to certain third parties such as defense, settlement, or payment of judgments for intellectual property claims related to the use of its products. Such indemnification obligations may not be subject to maximum loss clauses. Historically, payments made related to these indemnifications have been immaterial. Letters of Credit As of July 4, 2015, we had letters of credit and bank guarantees outstanding totaling $1.8 million, including the standby letter of credit outstanding under the Santa Clara, California facility lease and a banker’s guarantee which guarantees customer advances under a customer contract. These letters of credit and bank guarantees are collateralized by $1.8 million of restricted cash.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments	6 Months Ended
	Jul. 04, 2015
Cash, Cash Equivalents and Investments	9. Cash, Cash Equivalents and Investments Cash and cash equivalents, short-term investments and long-term investments consist of: July 4, 2015 Amortized Unrealized Unrealized Fair Value (In thousands) Cash and cash equivalents: Cash $ 5,651 $ — $ — $ 5,651 Money market funds 10,566 — — 10,566 Total cash and cash equivalents $ 16,217 $ — $ — $ 16,217 Short-term investments: Commercial paper $ 4,996 $ — $ — $ 4,996 Corporate bonds and medium-term notes 14,236 7 2 14,241 Municipal bonds 3,291 3 — 3,294 U.S. treasury and agency securities 8,997 11 — 9,008 Total short-term investments $ 31,520 $ 21 $ 2 $ 31,539 Long-term investments: Corporate bonds and medium-term notes $ 3,036 $ 2 $ 2 $ 3,036 Municipal bonds 2,731 — — 2,731 U.S. treasury and agency securities 3,492 5 — 3,497 Total long-term investments $ 9,259 $ 7 $ 2 $ 9,264 Total cash, cash equivalents, and investments $ 56,996 $ 28 $ 4 $ 57,020 January 3, 2015 Amortized Unrealized Unrealized Fair Value (In thousands) Cash and cash equivalents: Cash $ 4,948 $ — $ — $ 4,948 Money market funds 16,534 — — 16,534 Total cash and cash equivalents $ 21,482 $ — $ — $ 21,482 Short-term investments: Commercial paper $ 2,995 $ 2 $ — $ 2,997 Corporate bonds and medium-term notes 21,203 2 6 21,199 Municipal bonds 5,392 11 1 5,402 Total short-term investments $ 29,590 $ 15 $ 7 $ 29,598 Long-term investments: Corporate bonds and medium-term notes $ 6,266 $ 1 $ 4 $ 6,263 Municipal bonds 2,290 — 8 2,282 U.S. treasury and agency securities 8,995 3 1 8,997 Total long-term investments $ 17,551 $ 4 $ 13 $ 17,542 Total cash, cash equivalents, and investments $ 68,623 $ 19 $ 20 $ 68,622 The contractual maturities of available-for-sale securities at July 4, 2015 are presented in the following table. Amortized Fair Value (In thousands) Due in one year or less $ 42,086 $ 42,105 Due after one through two years 9,259 9,264 $ 51,345 $ 51,369 The following table provides the fair market value of Intevac’s investments with unrealized losses that are not deemed to be other-than temporarily impaired as of July 4, 2015. July 4, 2015 In Loss Position for Less than 12 Months In Loss Position for Greater than 12 Months Fair Gross Unrealized Fair Value Gross Unrealized (In thousands) Corporate bonds and medium-term notes $ 5,041 $ 4 $ — $ — All prices for the fixed maturity securities including U.S. Treasury and agency securities, commercial paper, corporate bonds and municipal bonds are received from independent pricing services utilized by Intevac’s outside investment manager. This investment manager performs a review of the pricing methodologies and inputs utilized by the independent pricing services for each asset type priced by the vendor. In addition, on at least an annual basis, the investment manager conducts due diligence visits and interviews with each pricing vendor to verify the inputs utilized for each asset class. The due diligence visits include a review of the procedures performed by each vendor to ensure that pricing evaluations are representative of the price that would be received to sell a security in an orderly transaction. Any pricing where the input is based solely on a broker price is deemed to be a Level 3 price. Intevac uses the pricing data obtained from its outside investment manager as the primary input to make its assessments and determinations as to the ultimate valuation of the above-mentioned securities and has not made, during the periods presented, any material adjustments to such inputs. The following table represents the fair value hierarchy of Intevac’s available-for-sale securities measured at fair value on a recurring basis as of July 4, 2015. Fair Value Measurements at July 4, 2015 Total Level 1 Level 2 (In thousands) Recurring fair value measurements: Available-for-sale securities Money market funds $ 10,566 $ 10,566 $ — U.S. treasury and agency securities 12,505 10,504 2,001 Commercial paper 4,996 — 4,996 Corporate bonds and medium-term notes 17,277 — 17,277 Municipal bonds 6,025 — 6,025 Total recurring fair value measurements $ 51,369 $ 21,070 $ 30,299

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jul. 04, 2015
Derivative Instruments	10. Derivative Instruments The Company uses foreign currency forward contracts to mitigate variability in gains and losses generated from the re-measurement of certain monetary assets and liabilities denominated in foreign currencies and to offset certain operational exposures from the impact of changes in foreign currency exchange rates. These derivatives are carried at fair value with changes recorded in interest income and other, net in the condensed consolidated statements of operations. Changes in the fair value of these derivatives are largely offset by re-measurement of the underlying assets and liabilities. Cash flows from such derivatives are classified as operating activities. The derivatives have original maturities of approximately 30, 60, 210 and 240 days. The following table summarizes the Company’s outstanding derivative instruments on a gross basis as recorded in its condensed consolidated balance sheets as of July 4, 2015 and January 3, 2015: Notional Amounts Derivative Assets Derivative Liabilities Derivative Instrument July 4, January 3, July 4, January 3, July 4, January 3, Balance Sheet Line Fair Value Balance Sheet Line Fair Value Balance Sheet Line Fair Value Balance Sheet Line Fair Value (In thousands) Undesignated Hedges: Forward Foreign Currency Contracts $ 1,220 $ 2,647 (a ) $ 13 (a ) $ 10 (b ) $ 2 (b ) $ 4 Total Hedges $ 1,220 $ 2,647 $ 13 $ 10 $ 2 $ 4 (a) Prepaid expenses and other current assets (b) Other accrued liabilities

Equity

Equity	6 Months Ended
	Jul. 04, 2015
Equity	11. Equity Stock Repurchase Program On November 21, 2013, Intevac’s Board of Directors approved a stock repurchase program authorizing up to $30.0 million in repurchases. At July 4, 2015, $10.7 million remains available for future stock repurchases under the repurchase program. The following table summarizes Intevac’s stock repurchases: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 (In thousands, except per share amounts) Shares of common stock repurchased 1,128 58 1,571 195 Cost of stock repurchased $ 6,293 $ 419 $ 9,280 $ 1,469 Average price paid per share $ 5.55 $ 7.21 $ 5.88 $ 7.49 Intevac records treasury stock purchases under the cost method using the first-in, first-out (FIFO) method. Upon reissuance of treasury stock, amounts in excess of the acquisition cost are credited to additional paid in capital. If Intevac reissues treasury stock at an amount below its acquisition cost and additional paid in capital associated with prior treasury stock transactions is insufficient to cover the difference between the acquisition cost and the reissue price, this difference is recorded against accumulated deficit. Accumulated Other Comprehensive Income The changes in accumulated other comprehensive income by component for the three and six months ended July 4, 2015 and June 28, 2014, are as follows. Three Months Ended Six Months Ended July 4, 2015 Foreign Unrealized holding gains on available- for-sale investments Total Foreign Unrealized holding gains on available- for-sale Total (In thousands) Beginning balance $ 620 $ 28 $ 648 $ 620 $ (1 ) $ 619 Other comprehensive income (35 ) (4 ) (39 ) (35 ) 25 (10 ) Amounts reclassified from other — — — — — — Net current-period other comprehensive income (loss) (35 ) (4 ) (39 ) (35 ) 25 (10 ) Ending balance $ 585 $ 24 $ 609 $ 585 $ 24 $ 609 Three Months Ended Six Months Ended June 28, 2014 Foreign Unrealized on available- for-sale investments Total Foreign Unrealized holding gains on available- for-sale investments Total (In thousands) Beginning balance $ 660 $ 39 $ 699 $ 691 $ 34 $ 725 Other comprehensive income 15 (11 ) 4 (16 ) (6 ) (22 ) Amounts reclassified from other — — — — — — Net current-period other comprehensive income (loss) 15 (11 ) 4 (16 ) (6 ) (22 ) Ending balance $ 675 $ 28 $ 703 $ 675 $ 28 $ 703

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jul. 04, 2015
Net Income (Loss) Per Share	12. Net Income (Loss) Per Share The following table sets forth the computation of basic and diluted income (loss) per share: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4 2015 June 28, 2014 (In thousands, except per share amounts) Net income (loss) $ 12 $ (5,007 ) $ (2,881 ) $ (9,528 ) Weighted-average shares – basic 22,630 23,927 22,929 23,892 Effect of dilutive potential common shares 282 — — — Weighted-average shares – diluted 22,912 23,927 22,929 23,892 Net loss per share – basic and diluted $ — $ (0.21 ) $ (0.13 ) $ (0.40 ) Antidilutive shares based on employee awards excluded 2,085 1,977 2,273 1,911 Potentially dilutive common shares consist of shares issuable upon exercise of employee stock options and vesting of RSUs and are excluded from the calculation of diluted EPS when their effect would be anti-dilutive.

Segment Reporting

Segment Reporting	6 Months Ended
	Jul. 04, 2015
Segment Reporting	13. Segment Reporting Intevac’s two reportable segments are: Thin-film Equipment and Photonics. Effective in the first quarter of 2015, Intevac renamed the Equipment segment Thin-film Equipment. Intevac’s chief operating decision-maker has been identified as the President and CEO, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Segment information is presented based upon Intevac’s management organization structure as of July 4, 2015 and the distinctive nature of each segment. Future changes to this internal financial structure may result in changes to the reportable segments disclosed. Each reportable segment is separately managed and has separate financial results that are reviewed by Intevac’s chief operating decision-maker. Each reportable segment contains closely related products that are unique to the particular segment. Segment operating profit is determined based upon internal performance measures used by the chief operating decision-maker. Intevac derives the segment results from its internal management reporting system. The accounting policies Intevac uses to derive reportable segment results are substantially the same as those used for external reporting purposes. Management measures the performance of each reportable segment based upon several metrics, including orders, net revenues and operating income. Management uses these results to evaluate the performance of, and to assign resources to, each of the reportable segments. Intevac manages certain operating expenses separately at the corporate level. Intevac allocates certain of these corporate expenses to the segments in an amount equal to 3% of net revenues. Segment operating income excludes interest income/expense and other financial charges and income taxes according to how a particular reportable segment’s management is measured. Management does not consider impairment charges, gains and losses on divestitures and sales of intellectual property, and unallocated costs in measuring the performance of the reportable segments. The Thin-film Equipment segment designs, develops and markets vacuum process equipment solutions for high-volume manufacturing of small substrates with precise thin-film properties for hard drive, solar cell and cell phone manufacturers as well as other adjacent thin-film deposition applications. The Photonics segment develops compact, cost-effective, high-sensitivity digital-optical products for the capture and display of low-light images and the optical analysis of materials. Intevac provides sensors, cameras and systems for government applications such as night vision and long-range target identification. Information for each reportable segment for the three and six months ended July 4, 2015 and June 28, 2014 is as follows: Net Revenues Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, June 28, 2014 (In thousands) Thin-film Equipment $ 11,494 $ 3,762 $ 22,122 $ 12,809 Photonics 8,964 10,953 18,221 18,921 Total segment net revenues $ 20,458 $ 14,715 $ 40,343 $ 31,730 Operating Income (Loss) Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, June 28, 2014 (In thousands) Thin-film Equipment $ 6 $ (5,667 ) $ (3,291 ) $ (9,808 ) Photonics 1,275 2,567 2,752 3,475 Total income (loss) from segment operations 1,281 (3,100 ) (539 ) (6,333 ) Unallocated costs (998 ) (2,146 ) (2,118 ) (3,637 ) Income (loss) from operations 283 (5,246 ) (2,657 ) (9,970 ) Interest income and other, net (13 ) 120 66 192 Income (loss) before income taxes $ 270 $ (5,126 ) $ (2,591 ) $ (9,778 ) Total assets for each reportable segment as of July 4, 2015 and January 3, 2015 are as follows: Assets July 4, January 3, (In thousands) Thin-film Equipment $ 28,791 $ 30,670 Photonics 17,094 17,126 Total segment assets 45,885 47,796 Cash, cash equivalents and investments 57,020 68,622 Restricted cash 1,780 1,780 Deferred income taxes 63 5 Other current assets 929 989 Common property, plant and equipment 1,056 1,083 Consolidated total assets $ 106,733 $ 120,275

Restructuring Charges

Restructuring Charges	6 Months Ended
	Jul. 04, 2015
Restructuring Charges	14. Restructuring Charges During the first quarter of fiscal 2015, Intevac substantially completed implementation of the 2015 cost reduction plan (the “Plan”), which was intended to reduce expenses and reduce its workforce by 3 percent. The cost of implementing the Plan was reported under cost of net revenues and operating expenses in the condensed consolidated statements of operations. Substantially all cash outlays in connection with the Plan occurred in the first quarter of fiscal 2015. Implementation of the Plan is expected to reduce salary, wages and other employee-related expenses by approximately $1.4 million on an annual basis. During the first half of fiscal 2014, Intevac substantially completed implementation of the 2014 cost reduction plan (the “2014 Plan”), which was intended to reduce expenses and reduce its workforce by 6 percent. The cost of implementing the 2014 Plan was reported under cost of net revenues and operating expenses in the condensed consolidated statements of operations. Substantially all cash outlays in connection with the Plan occurred in the first half of fiscal 2014. Implementation of the 2014 Plan reduced salary, wages and other employee-related expenses by approximately $2.1 million on an annual basis. As of July 4, 2015, activities related to the 2014 Plan were complete. The changes in restructuring reserves associated with the Plans for the three and six months ended July 4, 2015 and June 28, 2014 are as follows. Three Months Ended Six Months Ended July 4, June 28, July 4, June 28, 2015 2014 2015 2014 Severance and other employee-related costs (In thousands) Beginning balance $ — $ — $ — $ — Provision for restructuring reserves — 61 148 288 Cash payments made (— ) (61 ) (148 ) (288 ) Ending balance $ — $ — $ — $ —

Income Taxes

Income Taxes	6 Months Ended
	Jul. 04, 2015
Income Taxes	15. Income Taxes Intevac recorded an income tax provision of $258,000 and $290,000 for the three and six months ended July 4, 2015, respectively. Intevac recorded income tax benefits of $119,000 and $250,000 for the three and six months ended June 28, 2014, respectively. In the three months ended July 4, 2015, Intevac recorded a $262,000 income tax charge for audit considerations in foreign jurisdictions as a discrete item for the period. The income tax provisions for the three month periods are based upon estimates of annual income (loss), annual permanent differences and statutory tax rates in the various jurisdictions in which Intevac operates. Intevac did not recognize a benefit on the U.S. net operating loss for either of the three and six month periods ended July 4, 2015 and June 28, 2014 due to having full valuation allowances on the U.S. deferred tax assets. Intevac did not recognize a benefit on the Singapore net operating loss for the three and six months ended July 4, 2015 due to having full valuation allowances on the Singapore deferred tax assets. Intevac’s tax rate differs from the applicable statutory rates due primarily to establishment of a valuation allowance, the utilization of deferred and current credits and the effect of permanent differences and adjustments of prior permanent differences. Intevac’s future effective income tax rate depends on various factors including, the level of Intevac’s projected earnings, the geographic composition of worldwide earnings, tax regulations governing each region, net operating loss carry-forwards, availability of tax credits and the effectiveness of Intevac’s tax planning strategies. Management carefully monitors these factors and timely adjusts the effective income tax rate.

Contingencies

Contingencies	6 Months Ended
	Jul. 04, 2015
Contingencies	16. Contingencies From time to time, Intevac may have certain contingent liabilities that arise in the ordinary course of its business activities. Intevac accounts for contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 04, 2015
Summary of Inventories	Inventories are stated at the lower of average cost or market and consist of the following: July 4, January 3, 2015 2015 (In thousands) Raw materials $ 11,071 $ 10,684 Work-in-progress 2,076 2,299 Finished goods 5,370 6,229 $ 18,517 $ 19,212

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jul. 04, 2015
Effect of Recording Equity-Based Compensation	The effect of recording equity-based compensation for the three and six months ended July 4, 2015 and June 28, 2014 was as follows: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 (In thousands) Equity-based compensation by type of award: Stock options $ 125 $ 153 $ 442 $ 394 RSUs 395 376 735 668 Employee stock purchase plan 280 137 486 301 Total equity-based compensation $ 800 $ 666 $ 1,663 $ 1,363
Option Activity and Changes	Option activity as of July 4, 2015 and changes during the six months ended July 4, 2015 were as follows: Shares Weighted Average Options outstanding at January 3, 2015 2,584,935 $ 8.26 Options granted 416,375 $ 5.55 Options cancelled and forfeited (316,349 ) $ 7.78 Options exercised (38,521 ) $ 4.38 Options outstanding at July 4, 2015 2,646,440 $ 7.94 Vested and expected to vest at July 4, 2015 2,464,503 $ 8.08 Options exercisable at July 4, 2015 1,510,867 $ 9.25
Weighted-Average Fair Value of Stock Options and Employee Stock Purchase Rights using Weighted-Average Assumptions	Intevac estimated the weighted-average fair value of stock options and employee stock purchase rights using the following weighted-average assumptions: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Stock Options: Weighted-average fair value of grants per share $ 2.05 $ 3.02 $ 2.07 $ 3.14 Expected volatility 46.13 % 52.11 % 46.26 % 52.38 % Risk free interest rate 1.44 % 1.30 % 1.43 % 1.36 % Expected term of options (in years) 4.0 4.2 4.0 4.3 Dividend yield None None None None Six Months Ended July 4, 2015 June 28, 2014 Stock Purchase Rights: Weighted-average fair value of grants per share $ 2.26 $ 2.15 Expected volatility 44.05 % 43.40 % Risk free interest rate 0.39 % 0.11 % Expected term of purchase rights (in years) 1.22 0.74 Dividend yield None None
Summary of Restricted Stock Units Activity	A summary of the RSU activity is as follows: Shares Weighted Average Grant Date Fair Value Non-vested RSUs at January 3, 2015 350,429 $ 6.62 Granted 327,960 $ 6.07 Vested (102,561 ) $ 7.12 Cancelled and forfeited (23,952 ) $ 6.35 Non-vested RSUs at July 4, 2015 551,876 $ 6.21

Purchased Intangible Assets (Ta

Purchased Intangible Assets (Tables)	6 Months Ended
	Jul. 04, 2015
Details of Finite-lived Intangible Assets by Segment	Details of finite-lived intangible assets by segment as of July 4, 2015, are as follows. July 4, 2015 Gross Accumulated Net (In thousands) Thin-film Equipment $ 7,172 $ (4,009 ) $ 3,163 Photonics 1,215 (839 ) 376 $ 8,387 $ (4,848 ) $ 3,539
Future Amortization Expense	As of July 4, 2015, future amortization expense is expected to be as follows. (In thousands) 2015 $ 427 2016 853 2017 755 2018 615 2019 615 Thereafter 274 $ 3,539

Acquisition-Related Contingen26

Acquisition-Related Contingent Consideration (Tables)	6 Months Ended
	Jul. 04, 2015
Reconciliation of Change in Fair Value Measurement of Contingent Consideration Liability	The following table represents a reconciliation of the change in the fair value measurement of the contingent consideration liability for the three and six month periods ended July 4, 2015 and June 28, 2014: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 (In thousands) Opening balance $ 1,108 $ 1,435 $ 1,134 $ 1,384 Changes in fair value (174 ) 46 (200 ) 97 Closing balance $ 934 $ 1,481 $ 934 $ 1,481
Balance Sheet Classification of Contingent Consideration Liability	The following table displays the balance sheet classification of the contingent consideration liability account at July 4, 2015 and at January 3, 2015: July 4, January 3, 2015 2015 (In thousands) Other accrued liabilities $ 32 $ 59 Other long-term liabilities 902 1,075 Total acquisition-related contingent consideration $ 934 $ 1,134
Quantitative Information of Significant Unobservable Inputs of Contingent Consideration Liability	The following table represents the quantitative range of the significant unobservable inputs used in the calculation of fair value of the continent consideration liability as of July 4, 2015. Significant increases or decreases in any of these inputs in isolation would result in a significantly lower (higher) fair value measurement. Quantitative Information about Level 3 Fair Value Measurements at July 4, 2015 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands, except for percentages) Revenue Earnout $ 934 Discounted cash flow Weighted average cost of capital Probability weighting of achieving revenue forecasts 15.0% 20.0% - 80.0% (48.0%)

Warranty (Tables)

Warranty (Tables)	6 Months Ended
	Jul. 04, 2015
Activity in Warranty Provision Account	The following table displays the activity in the warranty provision account for the three and six months ended July 4, 2015 and June 28, 2014: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 (In thousands) Opening balance $ 1,352 $ 1,331 $ 1,186 $ 1,647 Expenditures incurred under warranties (91 ) (217 ) (222 ) (523 ) Accruals for product warranties issued during the reporting period 203 219 600 504 Adjustments to previously existing warranty accruals (186 ) (177 ) (286 ) (472 ) Closing balance $ 1,278 $ 1,156 $ 1,278 $ 1,156 The following table displays the balance sheet classification of the warranty provision account at July 4, 2015 and at January 3, 2015: July 4, January 3, 2015 2015 (In thousands) Other accrued liabilities $ 1,037 $ 1,022 Other long-term liabilities 241 164 Total warranty provision $ 1,278 $ 1,186

Cash, Cash Equivalents and In28

Cash, Cash Equivalents and Investments (Tables)	6 Months Ended
	Jul. 04, 2015
Cash, Cash Equivalents and Short-Term Investments and Long-Term Investments	Cash and cash equivalents, short-term investments and long-term investments consist of: July 4, 2015 Amortized Unrealized Unrealized Fair Value (In thousands) Cash and cash equivalents: Cash $ 5,651 $ — $ — $ 5,651 Money market funds 10,566 — — 10,566 Total cash and cash equivalents $ 16,217 $ — $ — $ 16,217 Short-term investments: Commercial paper $ 4,996 $ — $ — $ 4,996 Corporate bonds and medium-term notes 14,236 7 2 14,241 Municipal bonds 3,291 3 — 3,294 U.S. treasury and agency securities 8,997 11 — 9,008 Total short-term investments $ 31,520 $ 21 $ 2 $ 31,539 Long-term investments: Corporate bonds and medium-term notes $ 3,036 $ 2 $ 2 $ 3,036 Municipal bonds 2,731 — — 2,731 U.S. treasury and agency securities 3,492 5 — 3,497 Total long-term investments $ 9,259 $ 7 $ 2 $ 9,264 Total cash, cash equivalents, and investments $ 56,996 $ 28 $ 4 $ 57,020 January 3, 2015 Amortized Unrealized Unrealized Fair Value (In thousands) Cash and cash equivalents: Cash $ 4,948 $ — $ — $ 4,948 Money market funds 16,534 — — 16,534 Total cash and cash equivalents $ 21,482 $ — $ — $ 21,482 Short-term investments: Commercial paper $ 2,995 $ 2 $ — $ 2,997 Corporate bonds and medium-term notes 21,203 2 6 21,199 Municipal bonds 5,392 11 1 5,402 Total short-term investments $ 29,590 $ 15 $ 7 $ 29,598 Long-term investments: Corporate bonds and medium-term notes $ 6,266 $ 1 $ 4 $ 6,263 Municipal bonds 2,290 — 8 2,282 U.S. treasury and agency securities 8,995 3 1 8,997 Total long-term investments $ 17,551 $ 4 $ 13 $ 17,542 Total cash, cash equivalents, and investments $ 68,623 $ 19 $ 20 $ 68,622
Contractual Maturities of Available-for-Sale Securities	The contractual maturities of available-for-sale securities at July 4, 2015 are presented in the following table. Amortized Fair Value (In thousands) Due in one year or less $ 42,086 $ 42,105 Due after one through two years 9,259 9,264 $ 51,345 $ 51,369
Fair Market Value of Investments with Unrealized Losses Not Deemed to be Other-Than Temporarily Impaired	The following table provides the fair market value of Intevac’s investments with unrealized losses that are not deemed to be other-than temporarily impaired as of July 4, 2015. July 4, 2015 In Loss Position for Less than 12 Months In Loss Position for Greater than 12 Months Fair Gross Unrealized Fair Value Gross Unrealized (In thousands) Corporate bonds and medium-term notes $ 5,041 $ 4 $ — $ —
Fair Value Hierarchy of Available-for-Sale Securities Measured at Fair Value on Recurring Basis	The following table represents the fair value hierarchy of Intevac’s available-for-sale securities measured at fair value on a recurring basis as of July 4, 2015. Fair Value Measurements at July 4, 2015 Total Level 1 Level 2 (In thousands) Recurring fair value measurements: Available-for-sale securities Money market funds $ 10,566 $ 10,566 $ — U.S. treasury and agency securities 12,505 10,504 2,001 Commercial paper 4,996 — 4,996 Corporate bonds and medium-term notes 17,277 — 17,277 Municipal bonds 6,025 — 6,025 Total recurring fair value measurements $ 51,369 $ 21,070 $ 30,299

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jul. 04, 2015
Summary of Outstanding Derivative Instruments on Gross Basis as Recorded in Consolidated Balance Sheets	The following table summarizes the Company’s outstanding derivative instruments on a gross basis as recorded in its condensed consolidated balance sheets as of July 4, 2015 and January 3, 2015: Notional Amounts Derivative Assets Derivative Liabilities Derivative Instrument July 4, January 3, July 4, January 3, July 4, January 3, Balance Sheet Line Fair Value Balance Sheet Line Fair Value Balance Sheet Line Fair Value Balance Sheet Line Fair Value (In thousands) Undesignated Hedges: Forward Foreign Currency Contracts $ 1,220 $ 2,647 (a ) $ 13 (a ) $ 10 (b ) $ 2 (b ) $ 4 Total Hedges $ 1,220 $ 2,647 $ 13 $ 10 $ 2 $ 4 (a) Prepaid expenses and other current assets (b) Other accrued liabilities

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jul. 04, 2015
Stock Repurchases	The following table summarizes Intevac’s stock repurchases: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 (In thousands, except per share amounts) Shares of common stock repurchased 1,128 58 1,571 195 Cost of stock repurchased $ 6,293 $ 419 $ 9,280 $ 1,469 Average price paid per share $ 5.55 $ 7.21 $ 5.88 $ 7.49
Change in Accumulated Other Comprehensive Income by Component	The changes in accumulated other comprehensive income by component for the three and six months ended July 4, 2015 and June 28, 2014, are as follows. Three Months Ended Six Months Ended July 4, 2015 Foreign Unrealized holding gains on available- for-sale investments Total Foreign Unrealized holding gains on available- for-sale Total (In thousands) Beginning balance $ 620 $ 28 $ 648 $ 620 $ (1 ) $ 619 Other comprehensive income (35 ) (4 ) (39 ) (35 ) 25 (10 ) Amounts reclassified from other — — — — — — Net current-period other comprehensive income (loss) (35 ) (4 ) (39 ) (35 ) 25 (10 ) Ending balance $ 585 $ 24 $ 609 $ 585 $ 24 $ 609 Three Months Ended Six Months Ended June 28, 2014 Foreign Unrealized on available- for-sale investments Total Foreign Unrealized holding gains on available- for-sale investments Total (In thousands) Beginning balance $ 660 $ 39 $ 699 $ 691 $ 34 $ 725 Other comprehensive income 15 (11 ) 4 (16 ) (6 ) (22 ) Amounts reclassified from other — — — — — — Net current-period other comprehensive income (loss) 15 (11 ) 4 (16 ) (6 ) (22 ) Ending balance $ 675 $ 28 $ 703 $ 675 $ 28 $ 703

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jul. 04, 2015
Computation of Basic and Diluted Income (Loss) Per Share	The following table sets forth the computation of basic and diluted income (loss) per share: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4 2015 June 28, 2014 (In thousands, except per share amounts) Net income (loss) $ 12 $ (5,007 ) $ (2,881 ) $ (9,528 ) Weighted-average shares – basic 22,630 23,927 22,929 23,892 Effect of dilutive potential common shares 282 — — — Weighted-average shares – diluted 22,912 23,927 22,929 23,892 Net loss per share – basic and diluted $ — $ (0.21 ) $ (0.13 ) $ (0.40 ) Antidilutive shares based on employee awards excluded 2,085 1,977 2,273 1,911

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jul. 04, 2015
Information for Each Reportable Segment	Information for each reportable segment for the three and six months ended July 4, 2015 and June 28, 2014 is as follows: Net Revenues Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, June 28, 2014 (In thousands) Thin-film Equipment $ 11,494 $ 3,762 $ 22,122 $ 12,809 Photonics 8,964 10,953 18,221 18,921 Total segment net revenues $ 20,458 $ 14,715 $ 40,343 $ 31,730 Operating Income (Loss) Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, June 28, 2014 (In thousands) Thin-film Equipment $ 6 $ (5,667 ) $ (3,291 ) $ (9,808 ) Photonics 1,275 2,567 2,752 3,475 Total income (loss) from segment operations 1,281 (3,100 ) (539 ) (6,333 ) Unallocated costs (998 ) (2,146 ) (2,118 ) (3,637 ) Income (loss) from operations 283 (5,246 ) (2,657 ) (9,970 ) Interest income and other, net (13 ) 120 66 192 Income (loss) before income taxes $ 270 $ (5,126 ) $ (2,591 ) $ (9,778 )
Assets for Each Reportable Segment	Total assets for each reportable segment as of July 4, 2015 and January 3, 2015 are as follows: Assets July 4, January 3, (In thousands) Thin-film Equipment $ 28,791 $ 30,670 Photonics 17,094 17,126 Total segment assets 45,885 47,796 Cash, cash equivalents and investments 57,020 68,622 Restricted cash 1,780 1,780 Deferred income taxes 63 5 Other current assets 929 989 Common property, plant and equipment 1,056 1,083 Consolidated total assets $ 106,733 $ 120,275

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
	Jul. 04, 2015
Changes in Restructuring Reserves	The changes in restructuring reserves associated with the Plans for the three and six months ended July 4, 2015 and June 28, 2014 are as follows. Three Months Ended Six Months Ended July 4, June 28, July 4, June 28, 2015 2014 2015 2014 Severance and other employee-related costs (In thousands) Beginning balance $ — $ — $ — $ — Provision for restructuring reserves — 61 148 288 Cash payments made (— ) (61 ) (148 ) (288 ) Ending balance $ — $ — $ — $ —

Inventories Stated at Lower of

Inventories Stated at Lower of Average Cost or Market (Detail) - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Inventory [Line Items]
Raw materials	$ 11,071	$ 10,684
Work-in-progress	2,076	2,299
Finished goods	5,370	6,229
Inventories	$ 18,517	$ 19,212

Equity-Based Compensation - Add

Equity-Based Compensation - Additional information (Detail)	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2015Employee$ / sharesshares	Jul. 04, 2015USD ($)shares	Jun. 28, 2014USD ($)	Jul. 04, 2015USD ($)shares	Jun. 28, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common stock through payroll deductions				85.00%
Offering periods				2 years
Purchase intervals of a series				6 months
Maximum employee salary withholdings for purchase of common stock under the terms of the ESPP				15.00%
Number of shares issued under employee stock purchase plan				201,000
RSU conversion ratio				100.00%
Annual incentive plan stock awards granted				416,375
Share awards from performance based-awards eligible for time based vesting		2,464,503		2,464,503
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, vesting period				4 years
Annual incentive plan equity-based compensation expense | $		$ 123,000	$ 161,000	$ 72,000	$ 322,000
Number of participants in restricted stock grants awarded | Employee	29
Annual incentive plan stock awards granted	133,000
Weighted-average fair value of grants per share | $ / shares	$ 6.85
Performance Shares | Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share awards from performance based-awards eligible for time based vesting		5,532		5,532

Effect of Recording Equity-Base

Effect of Recording Equity-Based Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Equity Based Compensation Related to Employee Stock Purchase Programs [Line Items]
Total equity-based compensation	$ 800	$ 666	$ 1,663	$ 1,363
Stock Options
Equity Based Compensation Related to Employee Stock Purchase Programs [Line Items]
Total equity-based compensation	125	153	442	394
Restricted Stock Units (RSUs)
Equity Based Compensation Related to Employee Stock Purchase Programs [Line Items]
Total equity-based compensation	395	376	735	668
ESPP awards
Equity Based Compensation Related to Employee Stock Purchase Programs [Line Items]
Total equity-based compensation	$ 280	$ 137	$ 486	$ 301

Option Activity and Changes (De

Option Activity and Changes (Detail) - Jul. 04, 2015 - $ / shares	Total
Shares
Options outstanding at January 3, 2015	2,584,935
Options granted	416,375
Options cancelled and forfeited	(316,349)
Options exercised	(38,521)
Options outstanding at July 4, 2015	2,646,440
Vested and expected to vest at July 4, 2015	2,464,503
Options exercisable at July 4, 2015	1,510,867
Weighted Average Exercise Price
Options outstanding at January 3, 2015	$ 8.26
Options granted	5.55
Options cancelled and forfeited	7.78
Options exercised	4.38
Options outstanding at July 4, 2015	7.94
Vested and expected to vest at July 4, 2015	8.08
Options exercisable at July 4, 2015	$ 9.25

Weighted-Average Fair Value of

Weighted-Average Fair Value of Stock Options and Employee Stock Purchase Rights using Weighted-Average Assumptions (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Stock Options
Employee stock options weighted-average assumptions
Weighted-average fair value of grants per share	$ 2.05	$ 3.02	$ 2.07	$ 3.14
Expected volatility	46.13%	52.11%	46.26%	52.38%
Risk free interest rate	1.44%	1.30%	1.43%	1.36%
Expected term of options (in years)	4 years	4 years 2 months 12 days	4 years	4 years 3 months 18 days
Dividend yield	0.00%	0.00%	0.00%	0.00%
Stock Purchase Rights
Employee stock options weighted-average assumptions
Weighted-average fair value of grants per share			$ 2.26	$ 2.15
Expected volatility			44.05%	43.40%
Risk free interest rate			0.39%	0.11%
Expected term of options (in years)			1 year 2 months 19 days	8 months 27 days
Dividend yield	0.00%	0.00%	0.00%	0.00%

Summary of Restricted Stock Uni

Summary of Restricted Stock Units Activity (Detail) - 6 months ended Jul. 04, 2015 - Restricted Stock Units (RSUs) - $ / shares	Total
Shares
Non-vested RSUs at January 3, 2015	350,429
Granted	327,960
Vested	(102,561)
Cancelled and forfeited	(23,952)
Non-vested RSUs at July 4, 2015	551,876
Weighted Average Grant Date Fair Value
Non-vested RSUs at January 3, 2015	$ 6.62
Granted	6.07
Vested	7.12
Cancelled and forfeited	6.35
Non-vested RSUs at July 4, 2015	$ 6.21

Details of Finite-lived Intangi

Details of Finite-lived Intangible Assets by Segment (Detail) - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Finite-Lived Intangible Assets [Line Items]
Finite Lived, Gross Carrying Amount	$ 8,387
Accumulated Amortization	(4,848)	$ (4,421)
Finite Lived, Net Carrying Amount	3,539	$ 3,966
Thin-film Equipment Segment
Finite-Lived Intangible Assets [Line Items]
Finite Lived, Gross Carrying Amount	7,172
Accumulated Amortization	(4,009)
Finite Lived, Net Carrying Amount	3,163
Photonics
Finite-Lived Intangible Assets [Line Items]
Finite Lived, Gross Carrying Amount	1,215
Accumulated Amortization	(839)
Finite Lived, Net Carrying Amount	$ 376

Purchased Intangible Assets - A

Purchased Intangible Assets - Additional Information (Detail) - Jul. 04, 2015 - USD ($)	Total	Total
Acquired Finite-Lived Intangible Assets [Line Items]
Total amortization expense of finite-lived intangibles	$ 213,000	$ 427,000

Estimated Future Amortization E

Estimated Future Amortization Expense Related to Finite-Lived Purchased Intangible Assets (Detail) - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Finite Lived Intangible Assets And Liabilities Future Amortization Expense [Line Items]
2,015	$ 427
2,016	853
2,017	755
2,018	615
2,019	615
Thereafter	274
Finite Lived, Net Carrying Amount	$ 3,539	$ 3,966

Acquisition-Related Contingen43

Acquisition-Related Contingent Consideration - Additional Information (Detail) $ in Millions	Nov. 19, 2010USD ($)
Solar Implant Technologies | Milestone
Business Acquisition [Line Items]
Maximum amount of cash potentially earned in contingent compensation arrangements	$ 9

Reconciliation of Change in Fai

Reconciliation of Change in Fair Value Measurement of Contingent Consideration Liability (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Business Acquisition, Contingent Consideration [Line Items]
Opening balance	$ 1,108	$ 1,435	$ 1,134	$ 1,384
Changes in fair value	(174)	46	(200)	97
Closing balance	$ 934	$ 1,481	$ 934	$ 1,481

Balance Sheet Classification of

Balance Sheet Classification of Contingent Consideration Liability (Detail) - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Business Combination, Transactions [Line Items]
Contingent consideration liability	$ 934	$ 1,134
Other accrued liabilities
Business Combination, Transactions [Line Items]
Contingent consideration liability	32	59
Other long-term liabilities
Business Combination, Transactions [Line Items]
Contingent consideration liability	$ 902	$ 1,075

Quantitative Range of Significa

Quantitative Range of Significant Unobservable Inputs Used in Calculation of Fair Value of Continent Consideration Liability (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2015	Jan. 03, 2015
Business Acquisition, Contingent Consideration [Line Items]
Fair Value	$ 934	$ 1,134
Fair Value, Inputs, Level 3 | Revenue Earnout
Business Acquisition, Contingent Consideration [Line Items]
Valuation technique	Discounted cash flow
Fair Value	$ 934
Fair Value, Inputs, Level 3 | Revenue Earnout | Weighted Average
Business Acquisition, Contingent Consideration [Line Items]
Weighted average cost of capital	15.00%
Probability weighting of achieving revenue forecasts	48.00%
Fair Value, Inputs, Level 3 | Revenue Earnout | Minimum
Business Acquisition, Contingent Consideration [Line Items]
Probability weighting of achieving revenue forecasts	20.00%
Fair Value, Inputs, Level 3 | Revenue Earnout | Maximum
Business Acquisition, Contingent Consideration [Line Items]
Probability weighting of achieving revenue forecasts	80.00%

Warranty - Additional Informati

Warranty - Additional Information (Detail)	6 Months Ended
	Jul. 04, 2015
Warranties [Line Items]
Minimum product warranty range	12 months
Maximum product warranty range	24 months
Product warranty offer on sale	3 months

Warranty Provision Account (Det

Warranty Provision Account (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Accrued Warranty [Line Items]
Opening balance	$ 1,352	$ 1,331	$ 1,186	$ 1,647
Expenditures incurred under warranties	(91)	(217)	(222)	(523)
Accruals for product warranties issued during the reporting period	203	219	600	504
Adjustments to previously existing warranty accruals	(186)	(177)	(286)	(472)
Closing balance	$ 1,278	$ 1,156	$ 1,278	$ 1,156

Balance Sheet Classification 49

Balance Sheet Classification of Warranty Provision Account (Detail) - USD ($) $ in Thousands	Jul. 04, 2015	Apr. 04, 2015	Jan. 03, 2015	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2013
Product Warranty [Line Items]
Other accrued liabilities	$ 1,037		$ 1,022
Other long-term liabilities	241		164
Total warranty provision	$ 1,278	$ 1,352	$ 1,186	$ 1,156	$ 1,331	$ 1,647

Guarantees - Additional Informa

Guarantees - Additional Information (Detail) $ in Millions	Jul. 04, 2015USD ($)
Guarantor Obligations [Line Items]
Letters of credit and bank guarantees outstanding, amount	$ 1.8
Letters of credit and bank guarantees collateralized by restricted cash	$ 1.8

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments and Long-Term Investments (Detail) - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 56,996	$ 68,623
Unrealized Holdings Gains	28	19
Unrealized Holdings Losses	4	20
Fair Value	57,020	68,622
Money market funds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,566	16,534
Fair Value	10,566	16,534
Cash
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	5,651	4,948
Fair Value	5,651	4,948
Cash and Cash Equivalents
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	16,217	21,482
Fair Value	16,217	21,482
Short-term Investments
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	31,520	29,590
Unrealized Holdings Gains	21	15
Unrealized Holdings Losses	2	7
Fair Value	31,539	29,598
Short-term Investments | Commercial Paper
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,996	2,995
Unrealized Holdings Gains		2
Fair Value	4,996	2,997
Short-term Investments | Corporate bonds and medium-term notes
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	14,236	21,203
Unrealized Holdings Gains	7	2
Unrealized Holdings Losses	2	6
Fair Value	14,241	21,199
Short-term Investments | Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,291	5,392
Unrealized Holdings Gains	3	11
Unrealized Holdings Losses		1
Fair Value	3,294	5,402
Short-term Investments | U.S. treasury and agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	8,997
Unrealized Holdings Gains	11
Fair Value	9,008
Other Long-term Investments
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	9,259	17,551
Unrealized Holdings Gains	7	4
Unrealized Holdings Losses	2	13
Fair Value	9,264	17,542
Other Long-term Investments | Corporate bonds and medium-term notes
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,036	6,266
Unrealized Holdings Gains	2	1
Unrealized Holdings Losses	2	4
Fair Value	3,036	6,263
Other Long-term Investments | Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,731	2,290
Unrealized Holdings Losses		8
Fair Value	2,731	2,282
Other Long-term Investments | U.S. treasury and agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,492	8,995
Unrealized Holdings Gains	5	3
Unrealized Holdings Losses		1
Fair Value	$ 3,497	$ 8,997

Contractual Maturities of Avail

Contractual Maturities of Available-For-Sale Securities (Detail) $ in Thousands	Jul. 04, 2015USD ($)
Amortized Cost
Amortized Cost, Due in one year or less	$ 42,086
Amortized Cost, Due after one through two years	9,259
Amortized Cost	51,345
Fair Value
Fair Value, Due in one year or less	42,105
Fair Value, Due after one through two years	9,264
Fair Value	$ 51,369

Fair Market Value of Investment

Fair Market Value of Investments with Unrealized Losses Not Deemed to be Other-Than Temporarily Impaired (Detail) - Corporate bonds and medium-term notes $ in Thousands	Jul. 04, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Unrealized Loss Position, Less than 12 Months, Fair Value	$ 5,041
Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	4
Unrealized Loss Position, Greater than 12 Months, Fair Value	0
Unrealized Loss Position, Greater than 12 Months, Gross Unrealized Losses	$ 0

Fair Value Hierarchy of Availab

Fair Value Hierarchy of Available-for-Sale Securities Measured at Fair Value on Recurring Basis (Detail) $ in Thousands	Jul. 04, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 51,369
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	51,369
Fair Value, Measurements, Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	10,566
Fair Value, Measurements, Recurring | U.S. treasury and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	12,505
Fair Value, Measurements, Recurring | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	4,996
Fair Value, Measurements, Recurring | Corporate bonds and medium-term notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	17,277
Fair Value, Measurements, Recurring | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	6,025
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	21,070
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	10,566
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | U.S. treasury and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	10,504
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	30,299
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | U.S. treasury and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	2,001
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	4,996
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Corporate bonds and medium-term notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	17,277
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 6,025

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail)	6 Months Ended
	Jul. 04, 2015
Maturity Period One
Derivative [Line Items]
Maturity of foreign currency derivative	30 days
Maturity Period Two
Derivative [Line Items]
Maturity of foreign currency derivative	60 days
Maturity Period Three
Derivative [Line Items]
Maturity of foreign currency derivative	210 days
Maturity Period Four
Derivative [Line Items]
Maturity of foreign currency derivative	240 days

Summary of Outstanding Derivati

Summary of Outstanding Derivative Instruments on Gross Basis as Recorded in Consolidated Balance Sheets (Detail) - Undesignated Hedges - USD ($) $ in Thousands		Jul. 04, 2015	Jan. 03, 2015
Derivatives, Fair Value [Line Items]
Notional Amounts		$ 1,220	$ 2,647
Derivative Assets	[1]	13	10
Derivative Liabilities	[2]	2	4
Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Notional Amounts		1,220	2,647
Derivative Assets	[1]	13	10
Derivative Liabilities	[2]	$ 2	$ 4
[1]	Prepaid expenses and other current assets
[2]	Other accrued liabilities

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Nov. 21, 2013
Equity, Class of Treasury Stock [Line Items]
Stock repurchase authorized amount		$ 30
Stock repurchase remains available for future stock repurchase	$ 10.7

Stock Repurchases (Detail)

Stock Repurchases (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Equity, Class of Treasury Stock [Line Items]
Shares of common stock repurchased	1,128	58	1,571	195
Cost of stock repurchased	$ 6,293	$ 419	$ 9,280	$ 1,469
Average price paid per share	$ 5.55	$ 7.21	$ 5.88	$ 7.49

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income by Component (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 648	$ 699	$ 619	$ 725
Other comprehensive income (loss) before reclassification	(39)	4	(10)	(22)
Amounts reclassified from other comprehensive income	0	0	0	0
Net current-period other comprehensive income (loss)	(39)	4	(10)	(22)
Ending balance	609	703	609	703
Accumulated Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	620	660	620	691
Other comprehensive income (loss) before reclassification	(35)	15	(35)	(16)
Amounts reclassified from other comprehensive income	0	0	0	0
Net current-period other comprehensive income (loss)	(35)	15	(35)	(16)
Ending balance	585	675	585	675
Accumulated Net Unrealized Investment Gain (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	28	39	(1)	34
Other comprehensive income (loss) before reclassification	(4)	(11)	25	(6)
Amounts reclassified from other comprehensive income	0	0	0	0
Net current-period other comprehensive income (loss)	(4)	(11)	25	(6)
Ending balance	$ 24	$ 28	$ 24	$ 28

Computation of Basic and Dilute

Computation of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net income (loss)	$ 12	$ (5,007)	$ (2,881)	$ (9,528)
Weighted-average shares - basic	22,630	23,927	22,929	23,892
Effect of dilutive potential common shares	282	0	0	0
Weighted-average shares - diluted	22,912	23,927	22,929	23,892
Net loss per share - basic and diluted	$ 0	$ (0.21)	$ (0.13)	$ (0.40)
Antidilutive shares based on employee awards excluded	2,085	1,977	2,273	1,911

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - 6 months ended Jul. 04, 2015 - Segment	Total
Segment Reporting Disclosure [Line Items]
Number of reportable segments	2
Allocation of corporate expenses to the segments	3.00%

Information for Each Reportable

Information for Each Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Segment Reporting Information [Line Items]
Total segment net revenues	$ 20,458	$ 14,715	$ 40,343	$ 31,730
Unallocated costs	(998)	(2,146)	(2,118)	(3,637)
Income (loss) from operations	283	(5,246)	(2,657)	(9,970)
Interest income and other, net	(13)	120	66	192
Income (loss) before income taxes	270	(5,126)	(2,591)	(9,778)
Operating Segments
Segment Reporting Information [Line Items]
Income (loss) from operations	1,281	(3,100)	(539)	(6,333)
Thin-film Equipment Segment
Segment Reporting Information [Line Items]
Total segment net revenues	11,494	3,762	22,122	12,809
Thin-film Equipment Segment | Operating Segments
Segment Reporting Information [Line Items]
Income (loss) from operations	6	(5,667)	(3,291)	(9,808)
Photonics
Segment Reporting Information [Line Items]
Total segment net revenues	8,964	10,953	18,221	18,921
Photonics | Operating Segments
Segment Reporting Information [Line Items]
Income (loss) from operations	$ 1,275	$ 2,567	$ 2,752	$ 3,475

Assets for Each Reportable Segm

Assets for Each Reportable Segment (Detail) - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Cash, cash equivalents and investments	$ 57,020	$ 68,622
Restricted cash	1,780	1,780
Deferred income taxes	63	5
Other current assets	929	989
Common property, plant and equipment	1,056	1,083
Consolidated total assets	106,733	120,275
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Consolidated total assets	45,885	47,796
Operating Segments | Thin-film Equipment Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Consolidated total assets	28,791	30,670
Operating Segments | Photonics
Segment Reporting, Asset Reconciling Item [Line Items]
Consolidated total assets	$ 17,094	$ 17,126

Restructuring Charges - Additio

Restructuring Charges - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014
Restructuring Cost and Reserve [Line Items]
Percentage of reduction of global workforce	3.00%	6.00%
Reduction in salary, wages and other employee-related expenses due to implementation of plan	$ 1.4	$ 2.1

Changes in Restructuring Reserv

Changes in Restructuring Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Restructuring Cost and Reserve [Line Items]
Beginning balance	$ 0	$ 0	$ 0	$ 0
Provision for restructuring reserves	0	61	148	288
Cash payments made	0	(61)	(148)	(288)
Ending balance	$ 0	$ 0	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Income Taxes [Line Items]
Provision for (benefit from) income taxes	$ 258,000	$ (119,000)	$ 290,000	$ (250,000)
Income tax charge for audit considerations in foreign jurisdictions			$ 262,000