Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 04, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | INPHI CORP | |
Entity Central Index Key | 1,160,958 | |
Trading Symbol | iphi | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 42,181,798 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 167,559 | $ 144,867 |
Investments in marketable securities | 225,680 | 249,476 |
Accounts receivable, net | 52,682 | 49,999 |
Inventories | 32,273 | 32,039 |
Prepaid expenses and other current assets | 20,735 | 23,139 |
Total current assets | 498,929 | 499,520 |
Property and equipment, net | 49,370 | 44,471 |
Goodwill | 105,077 | 105,077 |
Identifiable intangible assets, net | 314,138 | 327,063 |
Deferred tax charge | 1,384 | |
Other assets, net | 12,593 | 13,080 |
Total assets | 980,107 | 990,595 |
Current liabilities: | ||
Accounts payable | 15,377 | 14,039 |
Deferred revenue | 4,235 | 3,630 |
Accrued employee expenses | 9,008 | 16,588 |
Other accrued expenses | 10,930 | 7,277 |
Other current liabilities | 19,486 | 24,736 |
Total current liabilities | 59,036 | 66,270 |
Convertible debt | 402,752 | 396,857 |
Other long-term liabilities | 60,898 | 64,944 |
Total liabilities | 522,686 | 528,071 |
Commitments and contingencies (Note 16) | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued | ||
Common stock, $0.001 par value; 500,000,000 shares authorized; 41,792,718 and 41,303,353 issued and outstanding at March 31, 2017 and December 31, 2016, respectively | 42 | 41 |
Additional paid-in capital | 467,088 | 459,928 |
Retained earnings (accumulated deficit) | (10,514) | 1,976 |
Accumulated other comprehensive income | 805 | 579 |
Total stockholders’ equity | 457,421 | 462,524 |
Total liabilities and stockholders’ equity | $ 980,107 | $ 990,595 |
Unaudited Condensed Consolidat3
Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares | Mar. 31, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, issued m (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, issued (in shares) | 41,792,718 | 41,303,353 |
Common stock, outstanding (in shares) | 41,792,718 | 41,303,353 |
Unaudited Condensed Consolidat4
Unaudited Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Revenue | $ 93,584 | $ 54,091 |
Cost of revenue | 40,071 | 17,121 |
Gross profit | 53,513 | 36,970 |
Operating expenses: | ||
Research and development | 40,288 | 23,987 |
Sales and marketing | 10,941 | 5,785 |
General and administrative | 6,795 | 4,957 |
Total operating expenses | 58,024 | 34,729 |
Income (loss) from operations | (4,511) | 2,241 |
Interest expense | (7,165) | (3,132) |
Other income | 855 | 469 |
Loss before income taxes from continuing operations | (10,821) | (422) |
Provision (benefit) for income taxes | 452 | (332) |
Net loss from continuing operations | (11,273) | (90) |
Discontinued operations: | ||
Income from discontinued operations | 481 | |
Provision for income taxes | 171 | |
Net income from discontinued operations | 310 | |
Net income (loss) | $ (11,273) | $ 220 |
Basic | ||
Net loss from continuing operations (in dollars per share) | $ (0.27) | |
Net income from discontinued operations (in dollars per share) | 0.01 | |
Basic earnings per share (in dollars per share) | (0.27) | 0.01 |
Diluted | ||
Net loss from continuing operations (in dollars per share) | (0.27) | |
Net income from discontinued operations (in dollars per share) | 0.01 | |
Diluted earnings per share (in dollars per share) | $ (0.27) | $ 0.01 |
Weighted-average shares used in computing earnings per share: | ||
Basic (in shares) | 41,570,629 | 39,758,201 |
Diluted (in shares) | 41,570,629 | 43,421,314 |
Unaudited Condensed Consolidat5
Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net income (loss) | $ (11,273) | $ 220 |
Other comprehensive income (loss): | ||
Change in unrealized gain, net of $0 tax | 226 | 225 |
Comprehensive income (loss) | $ (11,047) | $ 445 |
Unaudited Condensed Consolidat6
Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Change in unrealized gain, tax | $ 0 | $ 0 |
Unaudited Condensed Consolidat7
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Cash flows from operating activities | ||
Net income (loss) | $ (11,273) | $ 220 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 19,230 | 7,228 |
Stock-based compensation | 9,230 | 6,952 |
Deferred income taxes and deferred tax charge | (27) | 5 |
Accretion of convertible debt and amortization of debt issuance costs | 5,895 | 2,378 |
Amortization of premiums on marketable securities | 390 | 301 |
Other noncash items | 9 | 5 |
Changes in assets and liabilities: | ||
Accounts receivable | (2,683) | (2,585) |
Inventories | (234) | 505 |
Prepaid expenses and other assets | 3,046 | (1,371) |
Income tax payable/receivable | 297 | (65) |
Accounts payable | 3,409 | 3,407 |
Accrued expenses | (4,823) | (3,394) |
Deferred revenue | 605 | (547) |
Other liabilities | (4,563) | 39 |
Net cash provided by operating activities | 18,508 | 13,078 |
Cash flows from investing activities | ||
Purchases of property and equipment | (11,419) | (7,033) |
Purchases of marketable securities | (59,789) | (148,936) |
Sales of marketable securities | 27,866 | 79 |
Maturities of marketable securities | 55,360 | 2,660 |
Payment of debt related to purchase of intangible assets | (4,277) | |
Remaining payment related to acquisition of business | (1,800) | |
Purchase of cost-method investment in private company | (2,000) | |
Net cash provided by (used in) investing activities | 5,941 | (155,230) |
Cash flows from financing activities | ||
Proceeds from exercise of stock options | 1,319 | 812 |
Proceeds from employee stock purchase plan | 2,814 | 3,150 |
Payment of capital lease obligations | (219) | |
Repayment of long-term loan | 90 | |
Convertible bonds issuance costs paid | (353) | |
Minimum tax withholding paid on behalf of employees for net share settlement | (5,761) | (5,562) |
Net cash used in financing activities | (1,757) | (1,953) |
Net increase (decrease) in cash and cash equivalents | 22,692 | (144,105) |
Cash and cash equivalents at beginning of period | 144,867 | 283,044 |
Cash and cash equivalents at end of period | 167,559 | 138,939 |
Supplemental cash flow information: | ||
Interest paid | 1,006 | |
Income taxes paid | 171 | 133 |
Intangible assets financed with debt | $ 1,434 |
Note 1 - Organization and Basis
Note 1 - Organization and Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Inphi Corporation (the “Company”), a Delaware corporation, was incorporated in November 2000. On August 4, 2016, $90,000. On December 12, 2016, $303,661 December 12, 2016. The interim unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), for interim financial information and with the instructions to Securities and Exchange Commission (“SEC”), Form 10 10 December 31, 2016, 10 March 1, 2017. The interim condensed consolidated financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to state fairly the Company’s consolidated financial position at March 31, 2017, three March 31, 2017 2016. three March 31, 2017 |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 2. In May 2014, five January 1, 2017. July 2015, one may January 1, 2017, March 2016, April 2016, In July 2015, January 1, 2017. In January 2016, may first 2018. In February 2016, 12 January 1, 2019. In March 2016, January 1, 2017. In August 2016, 2018, In October 2016, 2018, 11 In January 2017, 2018. In January 2017, 2 2 December 15, 2019, |
Note 3 - Discontinued Operation
Note 3 - Discontinued Operations | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 3. As discussed in Note 1, August 4, 2016, The results of discontinued operations for the three March 31, 2016 Revenue $ 12,440 Cost of revenue (7,151 ) Operating expenses (4,984 ) Other income 176 Provision for income taxes (171 ) Net income from discontinued operations $ 310 The results of discontinued operations for the three March 31, 2016 Depreciation and amortization $ 498 Stock-based compensation expense 954 Property and equipment expenditures 554 |
Note 4 - Investments
Note 4 - Investments | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Investment [Text Block] | 4. The following table summarizes the investments by investment category: March 31, 2017 December 31, 2016 Cost Fair Value Cost Fair Value Available-for-sale securities: U.S. treasury securities $ 999 $ 999 $ 3,999 $ 4,000 Municipal bonds 44,646 44,654 45,289 45,171 Corporate notes/bonds 115,145 115,126 112,330 112,205 Variable rate demand notes 47,545 47,545 58,930 58,930 Commercial paper 10,490 10,490 23,945 23,947 Asset backed securities 6,866 6,866 5,221 5,223 Total investments $ 225,691 $ 225,680 $ 249,714 $ 249,476 As of March 31, 2017, 64 March 31, 2017 $118 The contractual maturities of available-for-sale securities at March 31, 2017 Cost Fair Value Due in one year or less $ 118,026 $ 118,012 Due between one and five years 58,120 58,123 Due after five years 49,545 49,545 $ 225,691 $ 225,680 |
Note 5 - Inventories
Note 5 - Inventories | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. Inventories consist of the following: March 31, 2017 December 31, 2016 Raw materials $ 7,999 $ 1,648 Work in process 14,623 15,999 Finished goods 9,651 14,392 $ 32,273 $ 32,039 Finished goods include amounts held by distributors of $738 $805 March 31, 2017 December 31, 2016, |
Note 6 - Property and Equipment
Note 6 - Property and Equipment, Net | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. Property and equipment consist of the following: March 31, 2017 December 31, 2016 Laboratory and production equipment $ 72,914 $ 64,402 Office, software and computer equipment 26,418 25,248 Furniture and fixtures 1,411 1,396 Leasehold improvements 6,734 6,707 107,477 97,753 Less accumulated depreciation (58,107 ) (53,282 ) $ 49,370 $ 44,471 Depreciation and amortization expense of property and equipment for the three March 31, 2017 2016 $4,871 $3,552, As of March 31, 2017 December 31, 2016, $6,725 $6,453, $277 $287 three March 31, 2017 2016, Property and equipment not yet paid in cash as of March 31, 2017 December 31, 2016 $2,582 $4,221, The Company leases certain equipment under capital lease agreements. Assets held under capital leases are included in property and equipment above. Gross amount and accumulated depreciation of assets under capital lease as of March 31, 2017 $3,639 $251, December 31, 2016 $3,698 $36, The minimum lease payments under capital leases as of March 31, 2017 2017 (remaining) $ 732 2018 772 2019 590 2020 418 2021 127 Total minimum lease payments 2,639 Less: Amount representing interest 428 Minimum lease payments, net of interest $ 2,211 |
Note 7 - Identifiable Intangibl
Note 7 - Identifiable Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. The following table presents details of identifiable intangible assets: March 31, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Developed technology $ 138,020 $ 33,828 $ 104,192 $ 138,020 $ 26,579 $ 111,441 Customer relationships 70,540 4,659 65,881 70,540 2,227 68,313 Trade name 2,310 541 1,769 2,310 426 1,884 Patents 1,579 600 979 1,579 552 1,027 Software 48,828 4,851 43,977 47,394 336 47,058 In-process research and development 97,340 — 97,340 97,340 — 97,340 $ 358,617 $ 44,479 $ 314,138 $ 357,183 $ 30,120 $ 327,063 The following table presents amortization of intangible assets for the three March 31, 2017 2016: Three Months Ended March 31, 2017 2016 Cost of goods sold $ 7,249 $ 2,875 Research and development 4,515 — Sales and marketing 2,432 205 General and administrative 163 98 $ 14,359 $ 3,178 Based on the amount of intangible assets subject to amortization at March 31, 2017, five 2017 (remaining) $ 43,306 2018 55,398 2019 50,985 2020 22,954 2021 19,873 Thereafter 24,282 $ 216,798 The weighted-average amortization periods remaining by intangible asset category were as follows (in years): Developed technology 4.1 Customer relationship 6.8 Trade name 4.2 Patents 11.0 Software 2.6 |
Note 8 - Product Warranty Oblig
Note 8 - Product Warranty Obligation | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Product Warranty Disclosure [Text Block] | 8. As of March 31, 2017 December 31, 2016, $110 no three March 31, 2017 2016. |
Note 9 - Convertible Debt
Note 9 - Convertible Debt | 3 Months Ended |
Mar. 31, 2017 | |
Convertible Debt [Member] | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 9. In December 2015, $230,000 1.125% 2020 2015). 2015 December 1, 2020, June 1 December 1 June 1, 2016. 24.8988 $1 2015, $40.16 three March 31, 2017 $3,272, $640 $2,415 $217 three March 31, 2016 $3,132, $754 $2,182 $196 In connection with the issuance of the Convertible Notes 2015, 2015) 2015, 100% 2015, 2015 $52.06 In September 2016, $287,500 0.75% 2021 2016, 2015, 2016 September 1, 2021, 2016 March 1 September 1 March 1, 2017. 17.7508 $1 2016, $56.34 three March 31, 2017 $3,794, $531 $3,016 $247 In connection with the issuance of the Convertible Notes 2016, 2016) 2016, 100% 2016, 2016 $73.03 |
Note 10 - Other Liabilities
Note 10 - Other Liabilities | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | 10. Other current liabilities consist of the following: March 31, 2017 December 31, 2016 Obligations under capital lease $ 762 $ 797 Intangible asset liability 16,092 14,688 Others 2,632 9,251 $ 19,486 $ 24,736 Other long-term liabilities consist of the following: March 31, 2017 December 31, 2016 Deferred rent $ 1,379 $ 1,067 Income tax payable 1,640 1,554 Obligations under capital lease 1,449 1,633 Intangible asset liability 28,404 32,651 Deferred tax liabilities 27,177 27,371 Others 849 668 $ 60,898 $ 64,944 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11. The Company normally determines its interim provision using an estimated single annual effective tax rate for all tax jurisdictions. ASC 740 three March 31, 2017 March 31, 2017 three March 31, 2016, The Company recorded an income tax provision/(benefit) of $452 ($332) three March 31, 2017 2016, (4%) 79% three March 31, 2017 2016, 34% three March 31, 2017 2016, As discussed in Note 2, 2016 16, three March 31, 2017. $1,217 During the three March 31, 2017, $1,977 March 31, 2017, twelve may $112 The Company does not provide for U.S. income taxes on undistributed earnings of its controlled foreign corporations that are intended to be invested indefinitely outside the United States. |
Note 12 - Earnings Per Share
Note 12 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 12. The following shows the reconciliation of weighted average shares used in the calculation of basic and diluted earnings per share: Three Months Ended March 31, 2017 2016 Denominator Weighted average common stock - basic 41,570,629 39,758,201 Effect of potentially dilutive securities: Add options to purchase common stock — 1,312,807 Add unvested restricted stock units — 2,317,352 Add employee stock purchase plan — 32,954 Weighted average common stock—diluted 41,570,629 43,421,314 The following securities were not included in the computation of diluted earnings per share as inclusion would have been anti-dilutive: Three Months Ended March 31, 2017 2016 Common stock options 1,572,215 — Unvested restricted stock unit 4,138,516 — Convertible debts 10,830,038 5,727,092 16,540,769 5,727,092 |
Note 13 - Stock-based Compensat
Note 13 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 13. In June 2010, 2010 “2010 November 2010. 2010 2010 2010 March 31, 2017, 5,527,889 2010 Stock Option Awards The Company did not three March 31, 2017 2016. The following table summarizes information regarding options outstanding: Number of Weighted Weighted Aggregate Outstanding at December 31, 2016 1,647,845 $ 10.86 4.28 $ 55,636 Exercised (206,132 ) 6.51 Outstanding at March 31, 2017 1,441,713 $ 11.48 4.09 $ 53,835 Exercisable at March 31, 2017 1,441,430 $ 11.48 4.09 $ 53,824 Vested and expected to vest at March 31, 2017 1,441,713 $ 11.48 4.09 $ 53,835 The intrinsic value of options outstanding, exercisable and vested and expected to vest is calculated based on the difference between the exercise price and the fair value of the Company’s common stock as of the respective balance sheet dates. The total intrinsic value of options exercised during the three March 31, 2017 2016 $8,348 $3,077, $1,319 $812 three March 31, 2017 2016, Restricted Stock Units The Company granted restricted stock units (“RSUs”) to members of the Board and employees. Most of the Company’s outstanding RSUs vest over four The following table summarizes information regarding outstanding RSUs : Number of Weighted Value Per Share Outstanding at December 31, 2016 4,448,630 $ 27.29 Granted 41,417 46.41 Vested (335,788 ) 13.62 Canceled (64,367 ) 35.57 Outstanding at March 31, 2017 4,089,892 $ 28.47 Expected to vest at March 31, 2017 4,031,282 The RSUs includes performance-based stock units subject to achievement of pre-established revenue goal and earnings per share on non-GAAP basis. Once the goals are met, the performance-based stock units are subject to four three March 31, 2017 37,750. March 31, 2017, 293,106. Employee Stock Purchase Plan In December 2011, may 15% six February 10 August 10 85% six The ESPP imposes certain limitations upon an employee’s right to acquire common stock, including the following: (i) no employee shall be granted a right to participate if such employee immediately after the election to purchase common stock, would own stock possessing 5% may $25 1,750,000 three March 31, 2017 2016 78,348 164,696, The fair value of employee stock purchase plan is estimated at the start of offering period using the Black-Scholes option pricing model with the following assumptions: Three Months Ended March 31, 2017 2016 Risk-free interest rate 0.65 % 0.45 % Expected life (in years) 0.50 0.50 Dividend yield — — Expected volatility 38 % 55 % Estimated fair value $ 12.58 $ 7.26 Stock-Based Compensation Expense Stock-based compensation expense is included in the Company’s results of operations as follows: Three Months Ended March 31, 2017 2016 Cost of goods sold $ 561 $ 335 Research and development 5,915 3,714 Sales and marketing 1,682 776 General and administrative 1,072 1,173 Discontinued operations — 954 $ 9,230 $ 6,952 Total unrecognized compensation cost related to unvested restricted stock units at March 31, 2017, $92,152 2.92 |
Note 14 - Fair Value Measuremen
Note 14 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 14. The guidance on fair value measurements requires fair value measurements to be classified and disclosed in one three Level 1 Level 2 Level 3 The Company measures its investments in marketable securities at fair value using the market approach, which uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The Company has some cash equivalents which consist of money market funds valued using the amortized cost method, in accordance with Rule 2a 7 1940 The Company determines the amount of transfers between Levels 1 2 3 three March 31, 2017. The following table presents information about assets required to be carried at fair value on a recurring basis: March 31, 2017 Total Level 1 Level 2 Assets Cash equivalents: Money market funds $ 5,208 $ 102 $ 5,106 Municipal bonds 2,000 — 2,000 Commercial paper 34,928 — 34,928 Investment in marketable securities: US treasury securities 999 999 — Municipal bonds 44,654 — 44,654 Corporate notes/bonds 115,126 — 115,126 Variable rate demand notes 47,545 — 47,545 Asset backed securities 6,866 — 6,866 Commercial paper 10,490 — 10,490 $ 267,816 $ 1,101 $ 266,715 Liabilities Convertible Notes $ 636,861 $ — $ 636,861 December 31, 2016 Total Level 1 Level 2 Assets Cash equivalents: Money market funds $ 17,267 $ 10,110 $ 7,157 Investment in marketable securities: US treasury securities 4,000 4,000 — Municipal bonds 45,171 — 45,171 Corporate notes/bonds 112,205 — 112,205 Variable rate demand notes 58,930 — 58,930 Asset backed securities 5,223 — 5,223 Commercial paper 23,947 — 23,947 $ 266,743 $ 14,110 $ 252,633 Liabilities Convertible Notes $ 616,831 $ — $ 616,831 The Convertible Notes are carried on the Consolidated Balance Sheets at their original issuance value including accreted interest, net of unamortized debt discount and issuance cost. The Convertible Notes are not marked to fair value at the end of each reporting period. As of March 31, 2017 December 31, 2016, 2 |
Note 15 - Segment and Geographi
Note 15 - Segment and Geographic Information | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 15. The Company operates in one may The following table sets forth the Company’s revenue by geographic region: Three Months Ended March 31, 2017 2016 China $ 37,720 $ 20,567 Thailand 13,853 5,678 United States 12,209 7,971 Japan 10,694 7,125 Other 19,108 12,750 $ 93,584 $ 54,091 As of March 31, 2017, $7,519 $4,691 December 31, 2016, $6,567 $5,068 |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 16. Leases The Company leases its facility and certain equipment under noncancelable lease agreements expiring in various years through 2026. As of March 31, 2017, one 2017 (remaining) $ 4,386 2018 4,949 2019 4,838 2020 2,463 2021 1,706 Thereafter 4,891 $ 23,233 For the three March 31, 2017 2016, $1,622 $3,093, Noncancelable Purchase Obligations The Company depends upon third March 31, 2017, $9,157. March 31, 2017, $1,170 $407 Legal Proceedings Netlist, Inc. v. Inphi Corporation, Case No. 09 6900 On September 22, 2009, 7,532,537. December 22, 2009, 7,619,912 7,636,274, 7,532,537, February 11, 2010 2010, inter partes 120 As to the proceeding at the USPTO, reexamination has been ordered for all of the patents that were alleged to infringe, and at present, the USPTO has determined that almost all of the originally filed claims are not valid, with certain amended claims being determined patentable. The Reexamination Certificate for U.S. Patent No. 7,532,537 August 2, 2016 7,619,912 7,636,274. While the Company intends to defend the foregoing USPTO proceedings and lawsuit vigorously, the USPTO proceedings and litigation, whether or not determined in the Company’s favor or settled, could be costly and time-consuming and could divert management’s attention and resources, which could adversely affect the Company’s business. Based on the nature of USPTO proceedings and litigation, the Company is currently unable to predict the final outcome of this lawsuit and therefore, cannot determine the likelihood of loss nor estimate a range of possible loss. However, because of the nature and inherent uncertainties of litigation, should the outcome of these actions be unfavorable, the Company’s business, financial condition, results of operations or cash flows could be materially and adversely affected. Indemnifications In the ordinary course of business, the Company may third may may no March 31, 2017 December 31, 2016. |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 17. Subsequent Events In April 2017, 1,185,558 to employees and consultants. |
Note 3 - Discontinued Operati25
Note 3 - Discontinued Operations (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Results from Discontinued Operations [Table Text Block] | Revenue $ 12,440 Cost of revenue (7,151 ) Operating expenses (4,984 ) Other income 176 Provision for income taxes (171 ) Net income from discontinued operations $ 310 Depreciation and amortization $ 498 Stock-based compensation expense 954 Property and equipment expenditures 554 |
Note 4 - Investments (Tables)
Note 4 - Investments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | March 31, 2017 December 31, 2016 Cost Fair Value Cost Fair Value Available-for-sale securities: U.S. treasury securities $ 999 $ 999 $ 3,999 $ 4,000 Municipal bonds 44,646 44,654 45,289 45,171 Corporate notes/bonds 115,145 115,126 112,330 112,205 Variable rate demand notes 47,545 47,545 58,930 58,930 Commercial paper 10,490 10,490 23,945 23,947 Asset backed securities 6,866 6,866 5,221 5,223 Total investments $ 225,691 $ 225,680 $ 249,714 $ 249,476 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Cost Fair Value Due in one year or less $ 118,026 $ 118,012 Due between one and five years 58,120 58,123 Due after five years 49,545 49,545 $ 225,691 $ 225,680 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, 2017 December 31, 2016 Raw materials $ 7,999 $ 1,648 Work in process 14,623 15,999 Finished goods 9,651 14,392 $ 32,273 $ 32,039 |
Note 6 - Property and Equipme28
Note 6 - Property and Equipment, Net (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, 2017 December 31, 2016 Laboratory and production equipment $ 72,914 $ 64,402 Office, software and computer equipment 26,418 25,248 Furniture and fixtures 1,411 1,396 Leasehold improvements 6,734 6,707 107,477 97,753 Less accumulated depreciation (58,107 ) (53,282 ) $ 49,370 $ 44,471 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | 2017 (remaining) $ 732 2018 772 2019 590 2020 418 2021 127 Total minimum lease payments 2,639 Less: Amount representing interest 428 Minimum lease payments, net of interest $ 2,211 |
Note 7 - Identifiable Intangi29
Note 7 - Identifiable Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | March 31, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Developed technology $ 138,020 $ 33,828 $ 104,192 $ 138,020 $ 26,579 $ 111,441 Customer relationships 70,540 4,659 65,881 70,540 2,227 68,313 Trade name 2,310 541 1,769 2,310 426 1,884 Patents 1,579 600 979 1,579 552 1,027 Software 48,828 4,851 43,977 47,394 336 47,058 In-process research and development 97,340 — 97,340 97,340 — 97,340 $ 358,617 $ 44,479 $ 314,138 $ 357,183 $ 30,120 $ 327,063 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Three Months Ended March 31, 2017 2016 Cost of goods sold $ 7,249 $ 2,875 Research and development 4,515 — Sales and marketing 2,432 205 General and administrative 163 98 $ 14,359 $ 3,178 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2017 (remaining) $ 43,306 2018 55,398 2019 50,985 2020 22,954 2021 19,873 Thereafter 24,282 $ 216,798 |
Finite Lived Intangible Assets Remaining Amortization Period [Table Text Block] | Developed technology 4.1 Customer relationship 6.8 Trade name 4.2 Patents 11.0 Software 2.6 |
Note 10 - Other Liabilities (Ta
Note 10 - Other Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Other Current Liabilities [Table Text Block] | March 31, 2017 December 31, 2016 Obligations under capital lease $ 762 $ 797 Intangible asset liability 16,092 14,688 Others 2,632 9,251 $ 19,486 $ 24,736 |
Other Noncurrent Liabilities [Table Text Block] | March 31, 2017 December 31, 2016 Deferred rent $ 1,379 $ 1,067 Income tax payable 1,640 1,554 Obligations under capital lease 1,449 1,633 Intangible asset liability 28,404 32,651 Deferred tax liabilities 27,177 27,371 Others 849 668 $ 60,898 $ 64,944 |
Note 12 - Earnings Per Share (T
Note 12 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2017 2016 Denominator Weighted average common stock - basic 41,570,629 39,758,201 Effect of potentially dilutive securities: Add options to purchase common stock — 1,312,807 Add unvested restricted stock units — 2,317,352 Add employee stock purchase plan — 32,954 Weighted average common stock—diluted 41,570,629 43,421,314 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended March 31, 2017 2016 Common stock options 1,572,215 — Unvested restricted stock unit 4,138,516 — Convertible debts 10,830,038 5,727,092 16,540,769 5,727,092 |
Note 13 - Stock-based Compens32
Note 13 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | Number of Weighted Weighted Aggregate Outstanding at December 31, 2016 1,647,845 $ 10.86 4.28 $ 55,636 Exercised (206,132 ) 6.51 Outstanding at March 31, 2017 1,441,713 $ 11.48 4.09 $ 53,835 Exercisable at March 31, 2017 1,441,430 $ 11.48 4.09 $ 53,824 Vested and expected to vest at March 31, 2017 1,441,713 $ 11.48 4.09 $ 53,835 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number of Weighted Value Per Share Outstanding at December 31, 2016 4,448,630 $ 27.29 Granted 41,417 46.41 Vested (335,788 ) 13.62 Canceled (64,367 ) 35.57 Outstanding at March 31, 2017 4,089,892 $ 28.47 Expected to vest at March 31, 2017 4,031,282 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Three Months Ended March 31, 2017 2016 Risk-free interest rate 0.65 % 0.45 % Expected life (in years) 0.50 0.50 Dividend yield — — Expected volatility 38 % 55 % Estimated fair value $ 12.58 $ 7.26 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended March 31, 2017 2016 Cost of goods sold $ 561 $ 335 Research and development 5,915 3,714 Sales and marketing 1,682 776 General and administrative 1,072 1,173 Discontinued operations — 954 $ 9,230 $ 6,952 |
Note 14 - Fair Value Measurem33
Note 14 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | March 31, 2017 Total Level 1 Level 2 Assets Cash equivalents: Money market funds $ 5,208 $ 102 $ 5,106 Municipal bonds 2,000 — 2,000 Commercial paper 34,928 — 34,928 Investment in marketable securities: US treasury securities 999 999 — Municipal bonds 44,654 — 44,654 Corporate notes/bonds 115,126 — 115,126 Variable rate demand notes 47,545 — 47,545 Asset backed securities 6,866 — 6,866 Commercial paper 10,490 — 10,490 $ 267,816 $ 1,101 $ 266,715 Liabilities Convertible Notes $ 636,861 $ — $ 636,861 December 31, 2016 Total Level 1 Level 2 Assets Cash equivalents: Money market funds $ 17,267 $ 10,110 $ 7,157 Investment in marketable securities: US treasury securities 4,000 4,000 — Municipal bonds 45,171 — 45,171 Corporate notes/bonds 112,205 — 112,205 Variable rate demand notes 58,930 — 58,930 Asset backed securities 5,223 — 5,223 Commercial paper 23,947 — 23,947 $ 266,743 $ 14,110 $ 252,633 Liabilities Convertible Notes $ 616,831 $ — $ 616,831 |
Note 15 - Segment and Geograp34
Note 15 - Segment and Geographic Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Three Months Ended March 31, 2017 2016 China $ 37,720 $ 20,567 Thailand 13,853 5,678 United States 12,209 7,971 Japan 10,694 7,125 Other 19,108 12,750 $ 93,584 $ 54,091 |
Note 16 - Commitments and Con35
Note 16 - Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2017 (remaining) $ 4,386 2018 4,949 2019 4,838 2020 2,463 2021 1,706 Thereafter 4,891 $ 23,233 |
Note 1 - Organization and Bas36
Note 1 - Organization and Basis of Presentation (Details Textual) - USD ($) $ in Thousands | Dec. 12, 2016 | Aug. 04, 2016 |
ClariPhy Communications Inc.[Member] | ||
Payments to Acquire Businesses, Gross | $ 303,661 | |
Memory Product Business [Member] | Discontinued Operations, Held-for-sale [Member] | Rambus Inc. [Member] | ||
Disposal Group, Including Discontinued Operation, Consideration | $ 90,000 |
Note 3 - Discontinued Operati37
Note 3 - Discontinued Operations - Results of Discontinued Operations (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Revenue | $ 12,440 |
Cost of revenue | (7,151) |
Operating expenses | (4,984) |
Other income | 176 |
Provision for income taxes | (171) |
Net income from discontinued operations | 310 |
Depreciation and amortization, discontinued operations | 498 |
Stock-based compensation expense | 954 |
Property and equipment expenditures | $ 554 |
Note 4 - Investments (Details T
Note 4 - Investments (Details Textual) $ in Thousands | Mar. 31, 2017USD ($) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 64 |
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax | $ 118 |
Note 4 - Investments - Summary
Note 4 - Investments - Summary of Investments by Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities, amortized cost | $ 225,691 | $ 249,714 |
Available-for-sale securities, fair value | 225,680 | 249,476 |
US Treasury Securities [Member] | ||
Available-for-sale securities, amortized cost | 999 | 3,999 |
Available-for-sale securities, fair value | 999 | 4,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 44,646 | 45,289 |
Available-for-sale securities, fair value | 44,654 | 45,171 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 115,145 | 112,330 |
Available-for-sale securities, fair value | 115,126 | 112,205 |
Variable Rate Demand Note [Member] | ||
Available-for-sale securities, amortized cost | 47,545 | 58,930 |
Available-for-sale securities, fair value | 47,545 | 58,930 |
Commercial Paper [Member] | ||
Available-for-sale securities, amortized cost | 10,490 | 23,945 |
Available-for-sale securities, fair value | 10,490 | 23,947 |
Asset-backed Securities [Member] | ||
Available-for-sale securities, amortized cost | 6,866 | 5,221 |
Available-for-sale securities, fair value | $ 6,866 | $ 5,223 |
Note 4 - Investments - Contract
Note 4 - Investments - Contractual Maturities of Available-for-sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Due in one year or less, cost | $ 118,026 | |
Due in one year or less, fair value | 118,012 | |
Due between one and five years, cost | 58,120 | |
Due between one and five years, fair value | 58,123 | |
Due after five years, cost | 49,545 | |
Due after five years, fair value | 49,545 | |
Available-for-sale securities, cost | 225,691 | |
Available-for-sale securities, fair value | $ 225,680 | $ 249,476 |
Note 5 - Inventories (Details T
Note 5 - Inventories (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross | $ 738 | $ 805 |
Note 5 - Inventories - Schedule
Note 5 - Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Raw materials | $ 7,999 | $ 1,648 |
Work in process | 14,623 | 15,999 |
Finished goods | 9,651 | 14,392 |
Total inventories | $ 32,273 | $ 32,039 |
Note 6 - Property and Equipme43
Note 6 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Depreciation | $ 4,871 | $ 3,552 | |
Capitalized Computer Software, Gross | 6,725 | $ 6,453 | |
Capitalized Computer Software, Amortization | 277 | $ 287 | |
Property Plant and Equipment Not Yet Paid | 2,582 | 4,221 | |
Capital Leased Assets, Gross | 3,639 | 3,698 | |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | $ 251 | $ 36 |
Note 6 - Property and Equipme44
Note 6 - Property and Equipment, Net - Property and Equipment Components (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Property, plant and equipment, gross | $ 107,477 | $ 97,753 |
Less accumulated depreciation | (58,107) | (53,282) |
Total property and equipment | 49,370 | 44,471 |
Equipment [Member] | ||
Property, plant and equipment, gross | 72,914 | 64,402 |
Office, Software, and Computer Equipment [Member] | ||
Property, plant and equipment, gross | 26,418 | 25,248 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 1,411 | 1,396 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | $ 6,734 | $ 6,707 |
Note 6 - Property and Equipme45
Note 6 - Property and Equipment, Net - Minimum Capital Lease Payments (Details) $ in Thousands | Mar. 31, 2017USD ($) |
2017 (remaining) | $ 732 |
2,018 | 772 |
2,019 | 590 |
2,020 | 418 |
2,021 | 127 |
Total minimum lease payments | 2,639 |
Less: Amount representing interest | 428 |
Minimum lease payments, net of interest | $ 2,211 |
Note 7 - Identifiable Intangi46
Note 7 - Identifiable Intangible Assets - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Intangible assets, gross | $ 358,617 | $ 357,183 |
Intangible assets, accumulated amortization | 44,479 | 30,120 |
Intangible assets, net | 314,138 | 327,063 |
Developed Technology Rights [Member] | ||
Intangible assets, gross | 138,020 | 138,020 |
Intangible assets, accumulated amortization | 33,828 | 26,579 |
Intangible assets, net | 104,192 | 111,441 |
Customer Relationships [Member] | ||
Intangible assets, gross | 70,540 | 70,540 |
Intangible assets, accumulated amortization | 4,659 | 2,227 |
Intangible assets, net | 65,881 | 68,313 |
Trade Names [Member] | ||
Intangible assets, gross | 2,310 | 2,310 |
Intangible assets, accumulated amortization | 541 | 426 |
Intangible assets, net | 1,769 | 1,884 |
Patents [Member] | ||
Intangible assets, gross | 1,579 | 1,579 |
Intangible assets, accumulated amortization | 600 | 552 |
Intangible assets, net | 979 | 1,027 |
Computer Software, Intangible Asset [Member] | ||
Intangible assets, gross | 48,828 | 47,394 |
Intangible assets, accumulated amortization | 4,851 | 336 |
Intangible assets, net | 43,977 | 47,058 |
In Process Research and Development [Member] | ||
Intangible assets, gross | 97,340 | 97,340 |
Intangible assets, accumulated amortization | ||
Intangible assets, net | $ 97,340 | $ 97,340 |
Note 7 - Identifiable Intangi47
Note 7 - Identifiable Intangible Assets - Finite-lived Intangible Assets, Accumulated Amortization (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Amortization of intangible assets | $ 14,359 | $ 3,178 |
Cost of Sales [Member] | ||
Cost of goods sold | 7,249 | 2,875 |
Research and Development Expense [Member] | ||
Amortization of intangible assets | 4,515 | |
Selling and Marketing Expense [Member] | ||
Amortization of intangible assets | 2,432 | 205 |
General and Administrative Expense [Member] | ||
Amortization of intangible assets | $ 163 | $ 98 |
Note 7 - Identifiable Intangi48
Note 7 - Identifiable Intangible Assets - Amortization of Intangible Assets, Future Amortization Expense (Details) $ in Thousands | Mar. 31, 2017USD ($) |
2017 (remaining) | $ 43,306 |
2,018 | 55,398 |
2,019 | 50,985 |
2,020 | 22,954 |
2,021 | 19,873 |
Thereafter | 24,282 |
Total amortization expense | $ 216,798 |
Note 7 - Identifiable Intangi49
Note 7 - Identifiable Intangible Assets - Intangible Assets Weighted-average Amortization Periods (Details) | 3 Months Ended |
Mar. 31, 2017 | |
Developed Technology Rights [Member] | |
Finite-lived intangible assets, remaining amortization period (Year) | 4 years 36 days |
Customer Relationships [Member] | |
Finite-lived intangible assets, remaining amortization period (Year) | 6 years 292 days |
Trade Names [Member] | |
Finite-lived intangible assets, remaining amortization period (Year) | 4 years 73 days |
Patents [Member] | |
Finite-lived intangible assets, remaining amortization period (Year) | 11 years |
Computer Software, Intangible Asset [Member] | |
Finite-lived intangible assets, remaining amortization period (Year) | 2 years 219 days |
Note 8 - Product Warranty Obl50
Note 8 - Product Warranty Obligation (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Standard and Extended Product Warranty Accrual | $ 110,000 | $ 110,000 | |
Standard and Extended Product Warranty Accrual, Period Increase (Decrease) | $ 0 | $ 0 |
Note 9 - Convertible Debt (Deta
Note 9 - Convertible Debt (Details Textual) - Convertible Debt [Member] $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Sep. 30, 2016USD ($)$ / shares$ / item | Dec. 31, 2015USD ($)$ / shares$ / item | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | |
Convertible Notes 2015 [Member] | ||||
Debt Instrument, Face Amount | $ 230,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.125% | |||
Debt Instrument, Convertible, Conversion Ratio | 24.8988 | |||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 40.16 | |||
Interest Expense, Debt | $ 3,272 | $ 3,132 | ||
Interest Expense, Debt, Excluding Amortization | 640 | 754 | ||
Amortization of Debt Discount (Premium) | 2,415 | 2,182 | ||
Amortization of Debt Issuance Costs | 217 | $ 196 | ||
Capped Call, Aggregate Call Options Purchased, Percentage Related to Shares Underlying the Convertible Note | 100.00% | |||
Derivative, Cap Price | $ / item | 52.06 | |||
Convertible Notes 2016 [Member] | ||||
Debt Instrument, Face Amount | $ 287,500 | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.75% | |||
Debt Instrument, Convertible, Conversion Ratio | 17.7508 | |||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 56.34 | |||
Interest Expense, Debt | 3,794 | |||
Interest Expense, Debt, Excluding Amortization | 531 | |||
Amortization of Debt Discount (Premium) | 3,016 | |||
Amortization of Debt Issuance Costs | $ 247 | |||
Capped Call, Aggregate Call Options Purchased, Percentage Related to Shares Underlying the Convertible Note | 100.00% | |||
Derivative, Cap Price | $ / item | 73.03 |
Note 10 - Other Liabilities - O
Note 10 - Other Liabilities - Other Current Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Obligations under capital lease | $ 762 | $ 797 |
Intangible asset liability | 16,092 | 14,688 |
Others | 2,632 | 9,251 |
Other current liabilities | $ 19,486 | $ 24,736 |
Note 10 - Other Liabilities -53
Note 10 - Other Liabilities - Other Long-term Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Deferred rent | $ 1,379 | $ 1,067 |
Income tax payable | 1,640 | 1,554 |
Obligations under capital lease | 1,449 | 1,633 |
Intangible asset liability | 28,404 | 32,651 |
Deferred tax liabilities | 27,177 | 27,371 |
Others | 849 | 668 |
Total other long-term liabilities | $ 60,898 | $ 64,944 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Income Tax Expense (Benefit) | $ 452 | $ (332) |
Effective Income Tax Rate Reconciliation, Percent | (4.00%) | 79.00% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | $ 1,977 | |
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 112 | |
Accounting Standards Update 2016-16 [Member] | ||
Cumulative Effect on Retained Earnings, Net of Tax | $ 1,217 |
Note 12 - Earnings Per Share -
Note 12 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Basic (in shares) | 41,570,629 | 39,758,201 |
Effect of potentially dilutive securities: | ||
Add options to purchase common stock (in shares) | 1,312,807 | |
Add unvested restricted stock units (in shares) | 2,317,352 | |
Add employee stock purchase plan (in shares) | 32,954 | |
Weighted average common stock—diluted (in shares) | 41,570,629 | 43,421,314 |
Note 12 - Earnings Per Share 56
Note 12 - Earnings Per Share - Securities Not Included in Computation of Earnings Per Share (Details) - shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Anti-dilutive securities (in shares) | 16,540,769 | 5,727,092 |
Employee Stock Option [Member] | ||
Anti-dilutive securities (in shares) | 1,572,215 | |
Restricted Stock [Member] | ||
Anti-dilutive securities (in shares) | 4,138,516 | |
Convertible Debt Securities [Member] | ||
Anti-dilutive securities (in shares) | 10,830,038 | 5,727,092 |
Note 13 - Stock-based Compens57
Note 13 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Dec. 31, 2011 | Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Common Stock, Capital Shares Reserved for Future Issuance | 5,527,889 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 8,348 | $ 3,077 | ||
Proceeds from Stock Options Exercised | $ 1,319 | $ 812 | ||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 78,348 | 164,696 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 92,152 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 335 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | ||
Employee Stock Purchase Plan [Member] | ||||
Maximum Percentage of Aggregate Cash Compensation for Purchase of Stock Using Payroll Deduction | 15.00% | |||
Purchase Price PerShare as Percentage of Market Value | 85.00% | |||
Percentage of Combined Voting Power or Value of All Classes of Stock Not Eligible to Participate | 5.00% | |||
Fair Value of Common Stock in Calendar Year per Employee Not Eligible to Participate | $ 25 | |||
Maximum Aggregate Number of Shares of Common Stock Available for Purchase under Employee Stock Purchase Plan | 1,750,000 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 335,788 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 4,089,892 | 4,448,630 | ||
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 37,750 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 293,106 |
Note 13 - Stock-based Compens58
Note 13 - Stock-based Compensation - Information Regarding Options Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Number of shares outstanding (in shares) | 1,647,845 | |
Number of shares outstanding, weighted-average exercise price (in dollars per share) | $ 10.86 | |
Number of shares outstanding, weighted-average remaining contractual life (Year) | 4 years 32 days | 4 years 102 days |
Number of shares outstanding, aggregate intrinsic value | $ 53,835 | $ 55,636 |
Number of shares exercised (in shares) | (206,132) | |
Number of shares exercised, weighted-average exercise price (in dollars per share) | $ 6.51 | |
Number of shares outstanding (in shares) | 1,441,713 | 1,647,845 |
Number of shares outstanding, weighted-average exercise price (in dollars per share) | $ 11.48 | $ 10.86 |
Number of shares exercisble (in shares) | 1,441,430 | |
Number of shares exercisble, weighted-average exercise price (in dollars per share) | $ 11.48 | |
Number of shares exercisble, weighted-average remaining contractual life (Year) | 4 years 32 days | |
Number of shares exercisable, aggregate intrinsic value | $ 53,824 | |
Vested and expected to vest at March 31, 2017 (in shares) | 1,441,713 | |
Vested and expected to vest at March 31, 2017 (in dollars per share) | $ 11.48 | |
Vested and expected to vest at March 31, 2017 (Year) | 4 years 32 days | |
Vested and expected to vest at March 31, 2017 | $ 53,835 |
Note 13 - Stock-based Compens59
Note 13 - Stock-based Compensation - Information Regarding Outstanding Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] | 3 Months Ended |
Mar. 31, 2017$ / sharesshares | |
Number of restricted stock units outstanding (in shares) | 4,448,630 |
Number of restricted stock units outstanding, weighted-average grant date fair value per share (in dollars per share) | $ / shares | $ 27.29 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 41,417 |
Number of restricted stock units granted, weighted-average grant date fair value per share (in dollars per share) | $ / shares | $ 46.41 |
Number of restricted stock units vested (in shares) | (335,788) |
Number of restricted stock units vested, weighted-average grant date fair value per share (in dollars per share) | $ / shares | $ 13.62 |
Number of restricted stock units cancelled (in shares) | (64,367) |
Number of restricted stock units cancelled, weighted-average grant date fair value per share (in dollars per share) | $ / shares | $ 35.57 |
Number of restricted stock units outstanding (in shares) | 4,089,892 |
Number of restricted stock units outstanding, weighted-average grant date fair value per share (in dollars per share) | $ / shares | $ 28.47 |
Number of restricted stock units expected to vest in the future (in shares) | 4,031,282 |
Note 13 - Stock-based Compens60
Note 13 - Stock-based Compensation - Fair Value of Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plan [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Risk-free interest rate | 0.65% | 0.45% |
Expected life (in years) (Year) | 182 days | 182 days |
Expected volatility | 38.00% | 55.00% |
Estimated fair value (in dollars per share) | $ 12.58 | $ 7.26 |
Note 13 - Stock-based Compens61
Note 13 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Allocated share-based compensation expense | $ 9,230 | $ 6,952 |
Cost of Sales [Member] | ||
Allocated share-based compensation expense | 561 | 335 |
Research and Development Expense [Member] | ||
Allocated share-based compensation expense | 5,915 | 3,714 |
Selling and Marketing Expense [Member] | ||
Allocated share-based compensation expense | 1,682 | 776 |
General and Administrative Expense [Member] | ||
Allocated share-based compensation expense | 1,072 | 1,173 |
Net income (Loss) from Discontinued Operations [Member] | ||
Allocated share-based compensation expense | $ 954 |
Note 14 - Fair Value Measurem62
Note 14 - Fair Value Measurements - Information about Assets and Liabilities Required to be Carried at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Total fair value of assets | $ 267,816 | $ 266,743 |
Convertible Notes | 636,861 | 616,831 |
Fair Value, Inputs, Level 1 [Member] | ||
Total fair value of assets | 1,101 | 14,110 |
Convertible Notes | ||
Fair Value, Inputs, Level 2 [Member] | ||
Total fair value of assets | 266,715 | 252,633 |
Convertible Notes | 636,861 | 616,831 |
Money Market Funds [Member] | ||
Cash equivalents | 5,208 | 17,267 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash equivalents | 102 | 10,110 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash equivalents | 5,106 | 7,157 |
US Treasury Securities [Member] | ||
Investment in marketable securities | 999 | 4,000 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment in marketable securities | 999 | 4,000 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment in marketable securities | ||
Municipal Bonds [Member] | ||
Cash equivalents | 2,000 | |
Investment in marketable securities | 44,654 | 45,171 |
Municipal Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash equivalents | ||
Investment in marketable securities | ||
Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash equivalents | 2,000 | |
Investment in marketable securities | 44,654 | 45,171 |
Commercial Paper [Member] | ||
Cash equivalents | 34,928 | |
Investment in marketable securities | 10,490 | 23,947 |
Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash equivalents | ||
Investment in marketable securities | ||
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash equivalents | 34,928 | |
Investment in marketable securities | 10,490 | 23,947 |
Corporate Debt Securities [Member] | ||
Investment in marketable securities | 115,126 | 112,205 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment in marketable securities | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment in marketable securities | 115,126 | 112,205 |
Variable Rate Demand Note [Member] | ||
Investment in marketable securities | 47,545 | 58,930 |
Variable Rate Demand Note [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment in marketable securities | ||
Variable Rate Demand Note [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment in marketable securities | 47,545 | 58,930 |
Asset-backed Securities [Member] | ||
Investment in marketable securities | 6,866 | 5,223 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment in marketable securities | ||
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment in marketable securities | $ 6,866 | $ 5,223 |
Note 15 - Segment and Geograp63
Note 15 - Segment and Geographic Information (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of Reportable Segments | 1 | |
Outside the United States [Member] | ||
Long Lived Tangible Assets Located Outside Country | $ 7,519 | $ 6,567 |
TAIWAN, PROVINCE OF CHINA | ||
Long Lived Tangible Assets Located Outside Country | $ 4,691 | $ 5,068 |
Note 15 - Segment and Geograp64
Note 15 - Segment and Geographic Information - Revenue by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Revenue | $ 93,584 | $ 54,091 |
CHINA | ||
Revenue | 37,720 | 20,567 |
THAILAND | ||
Revenue | 13,853 | 5,678 |
UNITED STATES | ||
Revenue | 12,209 | 7,971 |
JAPAN | ||
Revenue | 10,694 | 7,125 |
Other Country [Member] | ||
Revenue | $ 19,108 | $ 12,750 |
Note 16 - Commitments and Con65
Note 16 - Commitments and Contingencies (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Operating Leases, Rent Expense, Net | $ 1,622,000 | $ 3,093,000 | |
Value of Open Purchase Orders | 9,157,000 | ||
Estimated Litigation Liability | 0 | $ 0 | |
Software License Commitment [Member] | |||
Purchase Obligation | 1,170,000 | ||
Mask [Member] | |||
Purchase Obligation | $ 407,000 |
Note 16 - Commitments and Con66
Note 16 - Commitments and Contingencies - Future Minimum Lease Payments Under Noncancelable Operating Leases (Details) $ in Thousands | Mar. 31, 2017USD ($) |
2017 (remaining) | $ 4,386 |
2,018 | 4,949 |
2,019 | 4,838 |
2,020 | 2,463 |
2,021 | 1,706 |
Thereafter | 4,891 |
Total future minimum lease payments | $ 23,233 |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) - Restricted Stock Units (RSUs) [Member] - shares | 1 Months Ended | 3 Months Ended |
Apr. 30, 2017 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 41,417 | |
Subsequent Event [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,185,558 |