Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Sep. 30, 2016 | Nov. 11, 2016 | Apr. 01, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Sep. 30, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | MACOM Technology Solutions Holdings, Inc. | ||
Entity Central Index Key | 1,493,594 | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 53,689,550 | ||
Entity Public Float | $ 1.3 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 332,977 | $ 122,312 |
Short term investments | 23,776 | 39,557 |
Accounts receivable (less allowances of $3,279 and $5,745, respectively) | 108,331 | 83,950 |
Inventories | 114,935 | 79,943 |
Deferred income taxes | 0 | 31,431 |
Income tax receivable | 21,607 | 15,854 |
Prepaid and other current assets | 11,318 | 11,172 |
Total current assets | 612,944 | 384,219 |
Property and equipment, net | 99,167 | 83,759 |
Goodwill | 120,024 | 93,346 |
Intangible assets, net | 259,602 | 243,666 |
Deferred income taxes | 89,606 | |
Deferred income taxes | 48,239 | |
Other long-term assets | 7,208 | 7,605 |
Total assets | 1,188,551 | 860,834 |
Current liabilities: | ||
Current portion long-term debt | 7,203 | 4,058 |
Accounts payable | 30,579 | 29,311 |
Accrued liabilities | 54,368 | 38,107 |
Total current liabilities | 92,150 | 71,476 |
Long-term debt, less current portion | 576,345 | 335,087 |
Warrant liability | 38,253 | 21,822 |
Other long-term liabilities | 7,254 | 7,916 |
Deferred income taxes | 11,765 | 0 |
Total liabilities | 725,767 | 436,301 |
Commitments and contingencies (Note 12) | ||
Stockholders' equity: | ||
Preferred stock, $0.001 par value, 10,000 shares authorized, no shares issued | ||
Common stock, $0.001 par value, 300,000 shares authorized; 53,709 and 52,958 shares issued and 53,685 and 52,933 shares outstanding as of September 30, 2016 and October 2, 2015, respectively, of which 3 and 11 shares, respectively, are subject to forfeiture | 54 | 53 |
Treasury Stock, at cost, 23 shares as of September 30, 2016 and October 2, 2015 | (330) | (330) |
Accumulated other comprehensive income (loss) | 9,039 | (2,279) |
Additional paid-in capital | 551,509 | 526,011 |
Accumulated deficit | (97,488) | (98,922) |
Total stockholders' equity | 462,784 | 424,533 |
Total liabilities and stockholders' equity | $ 1,188,551 | $ 860,834 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Statement of Financial Position [Abstract] | ||
Allowances for accounts receivable | $ 3,279 | $ 5,745 |
Preferred stock, par value (in USD per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Common stock, par value (in USD per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, issued (in shares) | 53,709,000 | 52,958,000 |
Common stock, outstanding (in shares) | 53,685,000 | 52,933,000 |
Common stock, subject to forfeiture (in shares) | 3,300 | 11,000 |
Treasury stock (in shares) | 23,000 | 23,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Income Statement [Abstract] | |||
Revenue | $ 544,338 | $ 420,609 | $ 339,189 |
Cost of revenue | 262,729 | 217,019 | 198,249 |
Gross profit | 281,609 | 203,590 | 140,940 |
Operating expenses: | |||
Research and development | 107,698 | 82,188 | 71,351 |
Selling, general and administrative | 145,433 | 110,030 | 82,593 |
Impairment charges | 11,765 | 0 | 0 |
Restructuring charges | 3,465 | 1,280 | 14,823 |
Total operating expenses | 268,361 | 193,498 | 168,767 |
Income (loss) from operations | 13,248 | 10,092 | (27,827) |
Other income (expense): | |||
Warrant liability expense | (16,431) | (6,020) | (3,928) |
Interest expense | (18,427) | (18,376) | (12,362) |
Other income (expense) | 39 | (1,096) | 3,217 |
Total other income (expense), net | (34,819) | (25,492) | (13,073) |
Loss before income taxes | (21,571) | (15,400) | (40,900) |
Income tax (benefit) provision | (17,983) | (9,858) | (16,086) |
Loss from continuing operations | (3,588) | (5,542) | (24,814) |
Income from discontinued operations | 5,022 | 54,131 | 9,491 |
Net (loss) income | $ 1,434 | $ 48,589 | $ (15,323) |
Basic income (loss) per share: | |||
Income (loss) from continuing operations (in USD per share) | $ (0.07) | $ (0.11) | $ (0.53) |
Income (loss) from discontinued operations (in USD per share) | 0.09 | 1.06 | 0.20 |
(Loss) income per share-basic (in USD per share) | 0.03 | 0.95 | (0.33) |
Diluted income (loss) per share: | |||
Income (loss) from continuing operations (in USD per share) | (0.07) | (0.11) | (0.53) |
Income from discontinued operations (in USD per share) | 0.09 | 1.06 | 0.20 |
(Loss) income per share-diluted (in USD per share) | $ 0.03 | $ 0.95 | $ (0.33) |
Shares used: | |||
Basic (in shares) | 53,364 | 51,146 | 47,009 |
Diluted (in shares) | 53,364 | 51,146 | 47,009 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Net income (loss) | $ 1,434 | $ 48,589 | $ (15,323) |
Unrealized loss on short term investments, net of tax | (2) | (97) | 0 |
Foreign currency translation gain (loss), net of tax | 11,320 | (918) | (1,097) |
Other adjustments, net of tax | 0 | 90 | (90) |
Other comprehensive income (loss), net of tax | 11,318 | (925) | (1,187) |
Total comprehensive income (loss) | $ 12,752 | $ 47,664 | $ (16,510) |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Additional Paid-In Capital | Accumulated Deficit |
Beginning balance at Sep. 27, 2013 | $ 247,141 | $ 46 | $ (330) | $ (167) | $ 379,780 | $ (132,188) |
Balance (in shares) at Sep. 27, 2013 | 46,419 | 23 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Capital contributions | 3,200 | 3,200 | ||||
Common control business combination | (26,080) | (26,080) | ||||
Common control tax benefits | 6,069 | 6,069 | ||||
Stock option exercises | 2,219 | $ 1 | 2,218 | |||
Stock option exercise (in shares) | 515 | |||||
Vesting of restricted common stock and units | 1 | $ 1 | ||||
Vesting of restricted common stock and units (in shares) | 536 | |||||
Issuance of common stock pursuant to employee stock purchase plan | 1,810 | 1,810 | ||||
Issuance of common stock pursuant to employee stock purchase plan (in shares) | 150 | |||||
Shares repurchased for tax withholdings on restricted stock awards | (1,282) | $ 0 | (1,282) | |||
Shares repurchased for tax withholdings on restricted stock awards (in shares) | (72) | |||||
Share-based compensation | 11,277 | 11,277 | ||||
Fair value of vested awards assumed in acquisition | 785 | 785 | ||||
Excess tax benefits | (63) | (63) | ||||
Other comprehensive income, net of tax | (1,187) | (1,187) | ||||
Net income (loss) | (15,323) | (15,323) | ||||
Ending balance at Oct. 03, 2014 | 228,567 | $ 48 | $ (330) | (1,354) | 377,714 | (147,511) |
Balance (in shares) at Oct. 03, 2014 | 47,548 | 23 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Proceeds from Stock Offering | 127,761 | $ 5 | 127,756 | |||
Net Proceeds from Stock Offering (in shares) | 4,500 | |||||
Stock option exercises | 2,613 | $ 0 | 2,613 | |||
Stock option exercise (in shares) | 288 | |||||
Vesting of restricted common stock and units | 1 | $ 1 | ||||
Vesting of restricted common stock and units (in shares) | 704 | |||||
Issuance of common stock pursuant to employee stock purchase plan | 2,838 | 2,838 | ||||
Issuance of common stock pursuant to employee stock purchase plan (in shares) | 176 | |||||
Shares repurchased for tax withholdings on restricted stock awards | (8,556) | $ (1) | (8,555) | |||
Shares repurchased for tax withholdings on restricted stock awards (in shares) | (258) | |||||
Share-based compensation | 20,655 | 20,655 | ||||
Excess tax benefits | 2,990 | 2,990 | ||||
Other comprehensive income, net of tax | (925) | (925) | ||||
Net income (loss) | 48,589 | 48,589 | ||||
Ending balance at Oct. 02, 2015 | 424,533 | $ 53 | $ (330) | (2,279) | 526,011 | (98,922) |
Balance (in shares) at Oct. 02, 2015 | 52,958 | 23 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Stock option exercises | $ 1,253 | $ 0 | 1,253 | |||
Stock option exercise (in shares) | 130 | 130 | ||||
Vesting of restricted common stock and units | $ 1 | |||||
Vesting of restricted common stock and units (in shares) | 750 | |||||
Issuance of common stock pursuant to employee stock purchase plan | $ 4,207 | 4,207 | ||||
Issuance of common stock pursuant to employee stock purchase plan (in shares) | 154 | |||||
Shares repurchased for tax withholdings on restricted stock awards | (9,995) | $ 0 | (9,995) | |||
Shares repurchased for tax withholdings on restricted stock awards (in shares) | (283) | |||||
Share-based compensation | 26,954 | 26,954 | ||||
Excess tax benefits | 3,079 | 3,079 | ||||
Other comprehensive income, net of tax | 11,318 | 11,318 | ||||
Net income (loss) | 1,434 | 1,434 | ||||
Ending balance at Sep. 30, 2016 | $ 462,784 | $ 54 | $ (330) | $ 9,039 | $ 551,509 | $ (97,488) |
Balance (in shares) at Sep. 30, 2016 | 53,709 | 23 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income (loss) | $ 1,434 | $ 48,589 | $ (15,323) |
Adjustments to reconcile net (loss) income to net cash from operating activities (net of acquisitions): | |||
Depreciation and intangible amortization | 70,591 | 54,708 | 34,618 |
Share-based compensation | 26,954 | 19,435 | 11,277 |
Warrant liability expense | 16,431 | 6,020 | 3,928 |
Acquired inventory step-up amortization | 2,061 | 5,533 | 18,053 |
Deferred financing costs amortization and write offs | 1,717 | 1,651 | 3,021 |
Acquisition prepaid compensation amortization | 4,457 | 9,623 | 0 |
Gain from discontinued operations | (7,500) | (63,256) | 0 |
Deferred income taxes | (9,936) | 7,835 | (13,328) |
Impairment of assets | 12,955 | 3,500 | 0 |
Other adjustments, net | 1,083 | 740 | 186 |
Change in operating assets and liabilities (net of acquisition): | |||
Accounts receivable | (17,209) | (13,089) | 2,223 |
Inventories | (24,708) | 92 | (9,586) |
Prepaid expenses and other assets | (2,412) | 3,932 | (646) |
Accounts payable | (1,075) | (1,858) | (7,140) |
Accrued and other liabilities | 10,862 | (5,640) | (6,726) |
Income taxes | (6,473) | (12,512) | (2,656) |
Prepaid compensation | 0 | (14,586) | 0 |
Deferred revenue | 0 | (17,039) | 7,571 |
Net cash from operating activities | 79,232 | 33,678 | 25,472 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Acquisition of businesses, net | (85,517) | (208,352) | (260,875) |
Purchases of property and equipment | (31,326) | (38,252) | (16,973) |
Proceeds from sales and maturities of investments | 51,573 | 0 | 0 |
Purchases of investments | (36,316) | (40,183) | 0 |
Proceeds from discontinued operations | 7,500 | 0 | 0 |
Strategic investments | 0 | 1,500 | (5,250) |
Acquisition of intellectual property | (777) | (3,346) | (5,490) |
Sale of product line | 0 | 0 | 12,000 |
Sale of businesses | 0 | 81,208 | 12,345 |
Net cash used in investing activities | (94,863) | (207,425) | (264,243) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from stock option exercises and employee stock purchases | 5,460 | 5,450 | 4,028 |
Payments on notes payable | (4,138) | (3,500) | (3,500) |
Payments of assumed debt | (9,938) | (1,504) | (40,917) |
Repurchase of common stock | (9,995) | (8,626) | (1,282) |
Proceeds from stock offering, net of issuance costs | 0 | 127,761 | 0 |
Proceeds from revolving credit facility | 0 | 100,000 | 245,000 |
Payments on revolving credit facility | 0 | (100,000) | (245,000) |
Borrowings from notes payable | 247,625 | 0 | 350,000 |
Excess tax benefits | 3,079 | 2,990 | (63) |
Capital contributions | 0 | 0 | 3,200 |
Other adjustments | (4,739) | (164) | (9,106) |
Net cash from financing activities | 227,354 | 122,407 | 302,360 |
Foreign currency effect on cash | (1,058) | (243) | (182) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 210,665 | (51,583) | 63,407 |
CASH AND CASH EQUIVALENTS — Beginning of year | 122,312 | 173,895 | 110,488 |
CASH AND CASH EQUIVALENTS — End of year | $ 332,977 | $ 122,312 | $ 173,895 |
Description of Business
Description of Business | 12 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business | DESCRIPTION OF BUSINESS MACOM Technology Solutions Holdings, Inc. (the Company) was incorporated in Delaware on March 25, 2009. We are a leading provider of high-performance analog semiconductor solutions that enable the next-generation internet applications, the cloud connected apps economy and the modern, networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. We design and manufacture differentiated, high-value products for customers who demand high performance, quality and reliability. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation, Basis of Presentation and Reclassification —We have one reportable segment, semiconductors and modules. The accompanying consolidated financial statements include our accounts and the accounts of our majority-owned subsidiaries. Certain prior period financial statement amounts, including debt issuance costs, have been adjusted to conform to currently reported presentations. All intercompany balances and transactions have been eliminated in consolidation. We have a 52 or 53-week fiscal year ending on the Friday closest to the last day of September. The fiscal years 2016 and 2015 included 52 weeks and fiscal year 2014 included 53 weeks. To offset the effect of holidays, for fiscal years in which there are 53 weeks, we include the extra week arising in our fiscal years in the first quarter. Use of Estimates —The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities during the reporting periods, the reported amounts of revenue and expenses during the reporting periods and the disclosure of contingent assets and liabilities at the date of the financial statements. On an ongoing basis, we base estimates and assumptions on historical experience, currently available information and various other factors that management believes to be reasonable under the circumstances. Actual results may differ from these estimates and assumptions. Discontinued Operations— In the fourth quarter of fiscal year 2015, we divested our Automotive business. In the second quarter of fiscal year 2014, we sold assets of the non-core wireless business of Mindspeed. The operating results of these businesses are reflected in discontinued operations. Foreign Currency Translation and Remeasurement —Our consolidated financial statements are presented in U.S. dollars. While the majority of our foreign operations use the U.S. dollar as the functional currency, the financial statements of our foreign operations for which the functional currency is not the U.S. dollar are translated into U.S. dollars at the exchange rates in effect at the balance sheet dates (for assets and liabilities) and at average exchange rates (for revenue and expenses). The unrealized translation gains and losses on the net investment in these foreign operations are accumulated as a component of other comprehensive income (loss). The financial statements of our foreign operations where the functional currency is the U.S. dollar, but where the underlying transactions are transacted in a different currency, are remeasured at the exchange rate in effect at the balance sheet date with respect to monetary assets and liabilities. Nonmonetary assets and liabilities, such as inventories and property and equipment and related statements of operations accounts, such as cost of revenue and depreciation, are remeasured at historical exchange rates. Revenue and expenses, other than cost of revenue, amortization and depreciation, are translated at the average exchange rate for the period in which the transaction occurred. The net gains and losses on foreign currency remeasurement are reflected in selling, general and administrative expense in the accompanying consolidated statements of operations. Net foreign exchange transaction gains and losses for all periods presented were immaterial. Cash and Cash Equivalents —Cash equivalents are primarily composed of short-term, highly-liquid instruments with an original maturity of three months or less and consists primarily of money market funds and commercial paper. Investments —We classify our investments as available-for-sale. Our investments classified as available-for-sale are recorded at fair value based upon third party pricing at period end. Unrealized gains and losses that are deemed temporary in nature are recorded in accumulated other comprehensive income and loss as a separate component of stockholders’ equity. A decline in the fair value of any security below cost that is deemed other than temporary results in a charge to earnings and the corresponding establishment of a new cost basis for the security. Premiums and discounts are amortized (accreted) over the life of the related security as an adjustment to its yield. Dividend and interest income are recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of investments sold. Inventories —Inventories are stated at the lower of cost or market. We use a combination of standard cost and moving weighted-average cost methodologies to determine the cost basis for our inventories, approximating a first-in, first-out basis. The standard cost of finished goods and work-in-process inventory is composed of material, labor and manufacturing overhead, which approximates actual cost. In addition to stating inventory at the lower of cost or market, we also evaluate inventory each reporting period for excess quantities and obsolescence, establishing reserves when necessary based upon historical experience, assessment of economic conditions and expected demand. Once recorded, these reserves are considered permanent adjustments to the carrying value of inventory. Property and Equipment —Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to expense as incurred, whereas major improvements that significantly extend the useful life of the assets are capitalized as additions to property and equipment. Property and equipment are depreciated or amortized using the straight-line method over the following estimated useful lives: Asset Classification Estimated Useful Life In Years Buildings and improvements 40 Machinery and equipment 2 – 7 Computer equipment and software 2 – 5 Furniture and fixtures 7 – 10 Leasehold improvements Shorter of useful life or term of lease Goodwill and Indefinite-lived Intangible Assets —We have goodwill and certain intangible assets with indefinite-lives which are not subject to amortization; these are reviewed for impairment annually as of August 31st and more frequently if events or changes in circumstances indicate that the assets may be impaired. For our assessment of goodwill impairment we compare the carrying value of the reporting unit to the fair value of the Company. For our assessment of in-service indefinite-lived assets we compare the carrying value of the asset to the estimated fair value of the asset. For indefinite-lived assets not in service, such as in-process research and development, we performed a qualitative assessment using an assumption of ‘more likely than not’ to determine if there were any impairment indicators. If impairment exists, a loss would be recorded to write down the value of the assets to their implied fair values. There have been no impairments of goodwill or indefinite-lived intangible assets in any period presented through September 30, 2016 . Other Intangible Assets —Our other intangible assets, including acquired technology and customer relationships, are definite-lived assets and are subject to amortization. We amortize definite-lived assets over their estimated useful lives, which range from five to ten years, generally based on the pattern over which we expect to receive the economic benefit from these assets. Impairment of Long-Lived Assets —Long-lived assets include property and equipment and definite-lived intangible assets subject to amortization. We evaluate long-lived assets for recoverability when events or changes in circumstances indicate that their carrying amounts may not be recoverable. Circumstances which could trigger a review include, but are not limited to, significant decreases in the market price of the asset or asset group, significant adverse changes in the business climate or legal factors, the accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset, current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset and a current expectation that the asset will more likely than not, be sold or disposed of significantly before the end of its previously estimated useful life. In evaluating a long-lived asset for recoverability, we estimate the undiscounted cash flows expected to result from our use and eventual disposition of the asset. If the sum of the expected undiscounted cash flows is less than the carrying amount of the asset, an impairment loss, equal to the excess of the carrying amount over the fair value of the asset, is recognized. In fiscal year 2016 we recorded impairment charges related to our strategic decision to exit a product line and end programs associated with our GaN-on Silicon Carbide license and technology transfer. There were no impairments of long-lived assets in any prior periods presented. Intangible assets related to in-process research and development acquired are not amortized until the underlying asset begins revenue generating activity, at which time it is amortized over its estimated useful life. Intangibles related to abandoned in-process research and development projects are expensed in the period the project is abandoned. There were no significant expenses related to abandoned in-process research and development projects in any prior period presented. Revenue Recognition —We recognize revenue when: (i) persuasive evidence of an arrangement exists; (ii) delivery or services have been rendered; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. We recognize revenue with the transfer of title and risk of loss and provide for reserves for returns and other allowances. We generally do not provide customers other than distributors the right to return product, with the exception of warranty related matters. Shipping and handling fees billed to customers are recorded as revenue while the related costs are classified as a component cost of revenue. We provide warranties for certain products and accrue the costs of warranty claims in the period the related revenue is recorded. Prior to fiscal year 2015, we had concluded that we had insufficient information as well as limited experience in estimating the effect of the right of distributors to return product and price protection and, accordingly, used the sell through approach of revenue recognition. Under this approach, we would recognize revenue from sales after the distributor resold the product to its end customer (the sell through basis). After concluding an extensive three year study of distributor related transactions, we completed an evaluation of our revenue recognition policy and concluded that it was appropriate to recognize revenue to distributors at the time of shipment to the distributor (sell-in basis). During fiscal year 2015, we concluded that we had sufficient data to predict future price adjustments from distributors and had a basis of being able to reasonably estimate these future price adjustments. Accordingly, on a consolidated basis, revenue from distribution customers was impacted by a change in estimate. Revenues from distributors accounted for approximately 10-15% of total consolidated revenue at that time. The terms of certain agreements with distribution customers provide for rights of return and compensation credits until such time as our products are sold by the distributors to their end customers. We have agreements with some distribution customers for various programs, including compensation, volume-based pricing, obsolete inventory, new products and stock rotation. Sales to these distribution customers, as well as the existence of compensation programs, are in accordance with terms set forth in written agreements with these distribution customers. In general, credits allowed under these programs are capped based upon individual distributor agreements. We record charges associated with these programs as a reduction of revenue at the time of sale with a corresponding adjustment to accounts receivable based upon historical activity. Our policy is to use a 12 month rolling historical experience rate and an estimated general reserve percentage in order to estimate the necessary allowance to be recorded. During fiscal year ended October 2, 2015, we recorded corresponding adjustments related to this change in estimate to recognize previously deferred revenues. The full year impact of this change in estimate resulted in additional revenue of $17.4 million and a net income of $7.7 million , or $0.15 earnings per share during fiscal year 2015. We also established a new reserve of $6.0 million for the fiscal year ended October 2, 2015 related to future rebates and returns under various programs associated with our distributor agreements. Research and Development Costs —Costs incurred in the research and development of products are expensed as incurred. Income Taxes —Deferred tax assets and liabilities are recognized based on temporary differences between the financial reporting and income tax bases of assets and liabilities, using rates anticipated to be in effect when such temporary differences reverse. A valuation allowance against net deferred tax assets is required if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. We provide reserves for potential payments of tax to various tax authorities related to uncertain tax positions and other issues. Reserves are based on a determination of whether and how much of a tax benefit is taken by us in our tax filings or positions and that are more likely than not to be realized following an examination by taxing authorities. We recognize the financial statement benefit of an uncertain tax position only after considering the probability that a tax authority would sustain the position in an examination. For tax positions meeting a “more-likely-than-not” threshold, the amount recognized in the financial statements is the benefit expected to be realized upon settlement with the tax authority. For tax positions not meeting the threshold, no financial statement benefit is recognized. Potential interest and penalties associated with such uncertain tax positions are recorded as a component of income tax expense. Earnings Per Share —Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period, excluding the dilutive effect of common stock equivalents. Diluted net income (loss) per share reflects the dilutive effect of common stock equivalents, such as stock options, warrants and restricted stock units, using the treasury stock method. Fair Value Measurements —Financial assets and liabilities are measured at fair value. Fair value is an exit price, representing the amount that would be received from the sale of an asset or paid to transfer a liability at the measurement date under current market conditions in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, we group financial assets and liabilities in a three-tier fair value hierarchy, according to the inputs used in measuring fair value as follows: Level 1—observable inputs such as quoted prices in active markets for identical assets and liabilities; Level 2—inputs other than quoted prices in active markets that are observable either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical assets and liabilities in markets that are not active and model-based valuation techniques for which significant assumptions are observable in active markets; and, Level 3—unobservable inputs for which there is little or no market data, requiring us to develop our own assumptions for model-based valuation techniques. This hierarchy requires us to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value due to the short-term nature of these assets and liabilities. Contingent Consideration —We estimate and record at the acquisition date, the fair value of contingent consideration making up part of the purchase price consideration for acquisitions. Additionally, at each reporting period, we estimate the change in the fair value of contingent consideration and any change in fair value is recognized in the consolidated statements of operations. We estimate the fair value of contingent consideration by discounting the associated expected cash flows, using a probability-weighted, discounted cash flow model. The estimate of the fair value of contingent consideration requires subjective assumptions to be made regarding future operating results, discount rates and probabilities assigned to various potential operating result scenarios. Share-Based Compensation —We account for all share-based compensation arrangements using the fair value method. We recognize compensation expense over the requisite service period of the award, which is generally the vesting period, using the straight-line method and providing that the minimum amount of compensation recorded is equal to the vested portion of the award. We record the expense in the consolidated statements of operations in the same manner in which the award recipients’ salary costs are classified. We use the Black-Scholes option-pricing model to estimate the fair value of stock options with service and performance conditions, inclusive of assumptions for risk-free interest rates, dividends, expected terms and estimated volatility. We derive the risk-free interest rate assumption from the U.S. Treasury’s rates for U.S. Treasury zero-coupon bonds with maturities similar to the expected term of the award being valued. We base the assumed dividend yield on its expectation of not paying dividends in the foreseeable future. We calculate the weighted-average expected term of the options using the simplified method, which is a method of applying a formula that uses the vesting term and the contractual term to compute the expected term of a stock option. The decision to use the simplified method is based on a lack of relevant historical data, due to our limited operating experience. In addition, due to our limited historical data, we incorporate the historical volatility of comparable companies with publicly available share prices to determine estimated volatility. The accounting for stock options requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Guarantees and Indemnification Obligations —We enter into agreements in the ordinary course of business with, among others, customers, distributors and original equipment manufacturers (OEM). Most of these agreements require us to indemnify the other party against third-party claims alleging that a Company product infringes a patent and/or copyright. Certain agreements in which we grant limited licenses to specific Company trademarks require us to indemnify the other party against third-party claims alleging that the use of the licensed trademark infringes a third-party trademark. Certain of these agreements require us to indemnify the other party against certain claims relating to property damage, personal injury or the acts or omissions, its employees, agents or representatives. In addition, from time to time, we have made certain guarantees in the form of warranties regarding the performance of Company products to customers. We have agreements with certain vendors, creditors, lessors and service providers pursuant to which we have agreed to indemnify the other party for specified matters, such as acts and omissions, its employees, agents or representatives. We have procurement or license agreements with respect to technology that are used in our products and agreements in which we obtain rights to a product from an OEM. Under some of these agreements, we have agreed to indemnify the supplier for certain claims that may be brought against such party with respect to our acts or omissions relating to the supplied products or technologies. Our certificate of incorporation and agreements with certain of our directors and officers and certain of our subsidiaries’ directors and officers provide them indemnification rights, to the extent legally permissible, against liabilities incurred by them in connection with legal actions in which they may become involved by reason of their service as a director or officer. As a matter of practice, we have maintained director and officer liability insurance coverage, including coverage for directors and officers of acquired companies. We have not experienced any losses related to these indemnification obligations in any period presented and no claims with respect thereto were outstanding as of September 30, 2016 and October 2, 2015 . We do not expect significant claims related to these indemnification obligations and, consequently, have concluded that the fair value of these obligations is negligible. No liabilities related to indemnification liabilities have been established. Recent Accounting Pronouncements —In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers . ASU 2014-09 requires revenue recognition to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 sets forth a new revenue recognition model that requires identifying the contract, identifying the performance obligations, determining the transaction price, allocating the transaction price to performance obligations and recognizing the revenue upon satisfaction of performance obligations. The amendments in ASU 2014-09 can be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the update recognized at the date of the initial application along with additional disclosures. On July 9, 2015, the FASB voted to defer the effective date by one year to interim and annual reporting periods beginning after December 15, 2017, and permitted early adoption of the standard, but not for periods beginning on or before the original effective date of December 15, 2016. We have not yet selected a transition method and are currently evaluating the impact of ASU 2014-09. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs . To simplify presentation of debt issuance costs, ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015, and early adoption is permitted. We have retroactively adopted this guidance for our fiscal year ended October 2, 2015, and as a result we reclassified the debt issuance costs associated with our Term Loans as a direct reduction of the recognized debt liabilities in our accompanying consolidated balance sheet. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, which eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. Acquirers would now recognize measurement-period adjustments during the period in which they determine the amount of the adjustment. This ASU is effective for annual and interim reporting periods beginning after December 15, 2015, including interim periods within those fiscal years, and should be applied prospectively to adjustments for provisional amounts that occur after the effective date with early adoption permitted for financial statements that have not been issued. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes . This update simplifies the presentation of deferred income taxes by eliminating the current requirements to classify deferred income tax assets and liabilities between current and noncurrent. The amendments in this update require that deferred tax assets and liabilities be classified as noncurrent in a classified statement of financial position. For public business entities, the standard is effective in the annual reporting periods beginning after December 15, 2016. Early adoption is permitted as of the beginning of any interim or annual reporting period and can be applied either prospectively or retrospectively to all periods presented. We have elected to adopt this standard early and have implemented the change prospectively as of the second quarter of fiscal 2016; prior periods were not adjusted. Upon adoption in the second quarter of fiscal 2016, we included our current deferred income tax assets with our noncurrent deferred income tax assets; no adjustments were made to deferred tax liabilities. Refer to Note 16 to the Consolidated Financial Statements for additional information. In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Liabilities . This update makes amendments to the guidance in U.S. GAAP on the classification and measurement of financial instruments. The new standard significantly revises an entity's accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU 2016-02, Leases , which increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Certain qualitative and quantitative disclosures are required, as well as a retrospective recognition and measurement of impacted leases. The new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. Early adoption is permitted and the updated standard must be adopted no later than our fiscal first quarter of fiscal 2018. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments . This update amends the guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For available for sale debt securities, credit losses should be measured in a manner similar to current GAAP; however, this update will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments . This Update addresses debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions and separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In October 2016, the FASB issued ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory . This update amends the guidance on recognizing the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Consequently, the amendment eliminates the exception for an intra entity transfer of an asset other than inventory. ASU 2016-16 is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. |
Acquisitions
Acquisitions | 12 Months Ended |
Sep. 30, 2016 | |
Business Combinations [Abstract] | |
Acquisitions | ACQUISITIONS Acquisition of FiBest Limited — On December 9, 2015, we completed the acquisition of FiBest Limited (FiBest) a Japan-based merchant market component supplier of optical sub-assemblies (FiBest Acquisition). We acquired FiBest to expand our position in optical networking components. In connection with the FiBest Acquisition, all of the outstanding equity interests (including outstanding options) of FiBest were exchanged for aggregate consideration of $ 59.1 million including cash of $ 47.5 million and assumed debt of $ 11.6 million . We funded the FiBest Acquisition with cash on hand. For the fiscal year ended September 30, 2016 , we recorded transaction costs of $2.7 million as selling, general and administrative expense related to this acquisition. The FiBest Acquisition was accounted for as a stock purchase and the operations of FiBest have been included in our consolidated financial statements since the date of acquisition. We recognized the FiBest assets acquired and liabilities assumed based upon the fair value of such assets and liabilities measured as of the date of acquisition. The aggregate purchase price for FiBest is being allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the acquired net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforce acquired, and has been allocated to goodwill, none of which will be tax deductible. During the fiscal year ended September 30, 2016 , we recorded adjustments to our preliminary allocation of $0.9 million primarily related to a deferred tax liability and inventory valuation associated with the acquisition of FiBest. The purchase accounting is preliminary and subject to completion of certain areas and therefore the purchase price allocation remains preliminary as of September 30, 2016 . The adjustments arising from the completion of the outstanding matters could materially affect the preliminary purchase accounting. We expect to finalize our allocation of purchase price when our review has been completed during calendar year 2016. The adjusted preliminary allocation of purchase price as of September 30, 2016 , is as follows (in thousands): Preliminary Allocation Allocation Adjustments Adjusted Allocation Current assets $ 10,850 $ (405 ) $ 10,445 Intangible assets 45,650 — 45,650 Other assets 3,334 (17 ) 3,317 Total assets acquired 59,834 (422 ) 59,412 Liabilities assumed: Debt 11,627 — 11,627 Deferred income taxes 12,932 (1,274 ) 11,658 Other liabilities 3,968 — 3,968 Total liabilities assumed 28,527 (1,274 ) 27,253 Net assets acquired 31,307 852 32,159 Consideration: Cash paid upon closing, net of cash acquired 47,517 — 47,517 Goodwill $ 16,210 $ (852 ) $ 15,358 The components of the acquired intangible assets on a preliminary basis were as follows (in thousands): Amount Useful Lives (Years) Developed technology $ 9,400 7 Customer relationships 36,250 10 $ 45,650 The overall weighted-average life of the identified intangible assets acquired in the FiBest Acquisition is estimated to be 9.4 years and the assets are being amortized over their estimated useful lives based upon the pattern over which we expect to receive the economic benefit from these assets. The following is a summary of FiBest revenue and earnings included in our accompanying consolidated statements of operations for the fiscal year ended September 30, 2016 (in thousands): Amount Revenue $ 30,540 Loss before income taxes (4,616 ) Unaudited Supplemental Pro Forma Data— The pro forma statements of operations data for the fiscal year ended September 30, 2016 and October 2, 2015 below give effect to the FiBest Acquisition, described above, as if it had occurred at October 4, 2014. These amounts have been calculated after applying our accounting policies and adjusting the results of FiBest to reflect; transaction costs, retention compensation expense, the impact of the step-up to the value of acquired inventory, as well as the additional intangible amortization that would have been charged assuming the fair value adjustments had been applied and incurred since October 4, 2014. This pro forma data is presented for informational purposes only and does not purport to be indicative of our future results of operations. Fiscal Year Ended September 30, 2016 October 2, 2015 Revenue $ 551,964 $ 444,991 Net income (loss) (3,324 ) 36,715 Acquisition of Aeroflex/Metelics Inc. — On December 14, 2015, we acquired Aeroflex/Metelics, Inc. (Metelics), a diode supplier for aggregate cash consideration of $37.1 million , subject to customary working capital and other adjustments (Metelics Acquisition). We acquired Metelics to expand our diode business. We funded the acquisition with cash on hand. The Metelics Acquisition was accounted for as a stock purchase and the operations of Metelics have been included in our consolidated financial statements since the date of acquisition. For the fiscal year ended September 30, 2016 , we recorded transaction costs of $0.5 million as selling, general and administrative expenses related to this acquisition. We recognized the Metelics assets acquired and liabilities assumed based upon the fair value of such assets and liabilities measured as of the date of acquisition. The aggregate purchase price for Metelics is being allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the acquired net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforce acquired, and has been allocated to goodwill, which will be tax deductible due to a 338(h)(10) election. During the fourth quarter ended September 30, 2016 , we recorded an adjustment to our preliminary allocation of $3.5 million primarily associated with the physical inventory and fixed assets review which reduced current and other assets acquired and increases to intangible assets. During fiscal year 2016, we finalized the working capital adjustment resulting in a reduction of the cash consideration paid of $0.9 million . The purchase accounting is preliminary and subject to completion including certain fair value measurements. The adjustments arising from the completion of the outstanding matters may materially affect the preliminary purchase accounting. We will finalize our allocation of purchase price during calendar year 2016. The adjusted preliminary allocation of purchase price as of September 30, 2016 , is as follows (in thousands): Preliminary Allocation Allocation Adjustments Adjusted Allocation Current assets $ 15,250 $ (2,636 ) $ 12,614 Intangible assets 19,700 1,200 20,900 Other assets 6,249 (3,160 ) 3,089 Total assets acquired 41,199 (4,596 ) 36,603 Liabilities assumed: Other liabilities 7,401 (200 ) 7,201 Total liabilities assumed 7,401 (200 ) 7,201 Net assets acquired 33,798 (4,396 ) 29,402 Consideration: Cash paid upon closing, net of cash acquired 38,000 (875 ) 37,125 Goodwill $ 4,202 $ 3,521 $ 7,723 The components of the acquired intangible assets on a preliminary basis were as follows (in thousands): Amount Useful Lives (Years) Developed technology $ 1,000 7 Customer relationships 19,900 10 $ 20,900 The overall weighted-average life of the identified intangible assets acquired in the Metelics Acquisition is estimated to be 9.9 years and the assets are being amortized over their estimated useful lives based upon the pattern over which we expect to receive the economic benefit from these assets. The following is a summary of Metelics revenue and earnings included in our accompanying consolidated statements of operations for the fiscal year ended September 30, 2016 (in thousands): Amount Revenue $ 33,552 Income before income taxes 3,372 Unaudited Supplemental Pro Forma Data— The pro forma statements of operations data for the fiscal year ended September 30, 2016 and October 2, 2015 , below, give effect to the Metelics Acquisition, described above, as if it had occurred at October 4, 2014. These amounts have been calculated after applying our accounting policies and adjusting the results of Metelics to reflect the transaction costs, the impact of the step-up to the value of acquired inventory, as well as, the additional intangible amortization that would have been charged assuming the fair value adjustments had been applied and incurred since October 4, 2014. This pro forma data is presented for informational purposes only and does not purport to be indicative of our future results of operations. Fiscal Year Ended September 30, 2016 October 2, 2015 Revenue $ 553,174 $ 459,048 Net income (loss) 1,183 45,107 Acquisition of BinOptics Corporation — On December 15, 2014 , we completed the acquisition of BinOptics Corporation (BinOptics), a supplier of high-performance photonic semiconductor products (BinOptics Acquisition). In accordance with the related Agreement and Plan of Merger, all of the outstanding equity interests (including outstanding warrants) of BinOptics were exchanged for aggregate consideration of approximately $208.4 million in cash. In addition we paid $14.6 million as part of a related retention escrow agreement designed to retain certain BinOptics employees. This $14.6 million was included in the terms of the purchase agreement and has been accounted for as a post-closing prepaid expense. We funded the BinOptics Acquisition with a combination of cash on hand and the incurrence of $100.0 million of additional borrowings under our existing Revolving Facility. For the fiscal year ended October 2, 2015, we recorded transaction costs of approximately $4.2 million related to the BinOptics Acquisition in selling, general and administrative expense in the accompanying consolidated statements of operations. The BinOptics Acquisition was accounted for as a purchase and the operations of BinOptics have been included in our consolidated financial statements since the date of acquisition. We have recognized BinOptics' assets acquired and liabilities assumed based upon the fair value of such assets and liabilities measured as of the date of acquisition. The aggregate purchase price for BinOptics has been allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the acquired net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforce acquired, and has been allocated to goodwill, none of which is tax deductible. We finalized our allocation of purchase price during the first quarter of fiscal year 2016. The final allocation of purchase price as of January 1, 2016, was as follows (in thousands): October 2, 2015 Allocation Allocation Adjustments January 1, 2016 Adjusted Allocation Current assets $ 23,674 $ (1,100 ) $ 22,574 Intangible assets 136,900 400 137,300 Other assets 9,194 — 9,194 Total assets acquired 169,768 (700 ) 169,068 Liabilities assumed: Debt 2,535 — 2,535 Deferred income taxes 33,345 99 33,444 Other liabilities 13,106 — 13,106 Total liabilities assumed 48,986 99 49,085 Net assets acquired 120,782 (799 ) 119,983 Consideration: Cash paid upon closing, net of cash acquired 208,352 — 208,352 Goodwill $ 87,570 $ 799 $ 88,369 The components of the acquired intangible assets were as follows (in thousands): Amount Useful Lives (Years) Developed technology $ 17,500 7 Customer relationships 119,800 10 $ 137,300 The overall weighted-average life of the identified intangible assets acquired in the BinOptics Acquisition is estimated to be 9.6 years and the assets are being amortized over their estimated useful lives based upon the pattern over which we expect to receive the economic benefit from these assets. The following is a summary of BinOptics revenue and earnings included in our consolidated statements of operations for the fiscal year ended October 2, 2015 (in thousands): Fiscal Year Ended October 2, 2015 Revenue $ 61,549 Income before income taxes 354 Unaudited Supplemental Pro Forma Data— The pro forma statements of operations data for the fiscal year ended October 2, 2015, below, give effect to the BinOptics Acquisition, described above, as if it had occurred at September 28, 2013. These amounts have been calculated after applying our accounting policies and adjusting the results of BinOptics to reflect the additional depreciation and amortization that would have been charged assuming the fair value adjustments to property, plant and equipment and intangible assets and additional interest expense on acquisition-related borrowings had been applied and incurred since September 28, 2013. This pro forma data is presented for informational purposes only and does not purport to be indicative of our future results of operations. Fiscal Year Ended October 2, 2015 October 3, 2014 Revenue $ 428,440 $ 384,452 Net income (loss) from continuing operations (3,489 ) (98,119 ) |
Investments
Investments | 12 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments | . INVESTMENTS All investments are classified as available-for-sale. The amortized cost, gross unrealized holding gains or losses, and fair value of our available-for-sale investments by major investments type as of September 30, 2016 and October 2, 2015 are summarized in the tables below (in thousands): September 30, 2016 Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Aggregate Fair Value Corporate bonds $ 14,894 $ 9 $ (103 ) $ 14,800 Commercial paper 2,978 — (4 ) 2,974 US treasuries and agency bonds 6,004 1 (3 ) 6,002 Total investments $ 23,876 $ 10 $ (110 ) $ 23,776 October 2, 2015 Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Aggregate Fair Value Corporate bonds $ 24,546 $ 5 $ (89 ) $ 24,462 US treasuries and agency bonds 15,108 3 (16 ) 15,095 Total investments $ 39,654 $ 8 $ (105 ) $ 39,557 The contractual maturities of available-for-sale investments were as follows (in thousands): September 30, 2016 Less than 1 year $ 8,976 Over 1 year 14,800 Total investments $ 23,776 Available-for-sale investments are reported at fair value and as such, their associated unrealized gains and losses are reported as a separate component of stockholders’ equity within accumulated other comprehensive income (loss). We have determined that the gross unrealized losses on its available for sale securities at September 30, 2016 and October 2, 2015 are temporary in nature. No available for sale securities were held as of October 3, 2014. We review our investments to identify and evaluate investments that have indications of possible impairment. The techniques used to measure the fair value of our investments are described in Note 5 - Fair Value . Factors considered in determining whether a loss is temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and our intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. Substantially all of our fixed income securities are rated investment grade or better. We received proceeds from sales of available-for-sale securities of $51.6 million during the fiscal year ended September 30, 2016 . During fiscal year ended October 2, 2015 we did not receive proceeds from sales of available-for-sale securities. Such sales resulted in the recording of gross realized gains of $0.1 million and gross realized losses of $0.2 million during the year ended September 30, 2016 , which have been recorded within other income (expense). The Company did not hold available for sale securities during the year ended October 3, 2014. Other Investments —We determined the appropriate classification of our investments at the time of acquisition and re-evaluate such determination at each balance sheet date. We record at cost non-marketable equity investments where we do not have the ability to exercise significant influence or control and periodically reviews such investments for impairment. During fiscal year 2015, we made a minority investment of $0.5 million in the convertible debt of a privately-held U.S. based company. This investment was included in the assets sold in connection with the Automotive business. During fiscal year 2014, we made a minority investment of $5.0 million in the equity of a privately-held U.S. based company. This minority equity investment was accounted for under the cost method and is included on the consolidated balance sheets in other long-term assets. During the second fiscal quarter of 2015, the privately-held U.S. based company was sold to a third party which provided the Company with information that the underlying value of the investment had been impaired at April 3, 2015. Accordingly, the Company recorded an impairment charge of $3.5 million which is included in Other Expense in the Consolidated Statement of Operations during fiscal year 2015. The Company received $1.5 million in exchange for the equity investment during fiscal year 2015. There are no other investments outstanding at September 30, 2016 or October 2, 2015 . |
Fair Value
Fair Value | 12 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value | FAIR VALUE We group our financial assets and liabilities measured at fair value on a recurring basis in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets) or model-driven valuations in which all significant inputs are observable or can be derived principally from, or corroborated with, observable market data. Level 3 - Fair value is derived from valuation techniques in which one or more significant inputs are unobservable, including assumptions and judgments made by us. Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis We measure certain assets and liabilities at fair value on a recurring basis such as our financial instruments and derivatives. There have been no transfers between Level 1, 2 or 3 assets or liabilities during the fiscal year ended September 30, 2016 . Money market funds are actively traded and consist of highly liquid investments with original maturities of 90 days or less. They are measured at their net asset value (NAV) and classified as Level 1. Corporate and agency bonds and commercial paper are categorized as Level 2 assets except where sufficient quoted prices exist in active markets, in which case such securities are categorized as Level 1 assets. These securities are valued using third-party pricing services. These services may use, for example, model-based pricing methods that utilize observable market data as inputs. We generally use quoted prices for recent trading activity of assets with similar characteristics to the debt security or bond being valued. The securities and bonds priced using such methods are generally classified as Level 2. Broker dealer bids or quotes on securities with similar characteristics may also be used. Assets and liabilities measured at fair value on a recurring basis consist of the following (in thousands): September 30, 2016 Fair Value Active Markets for Identical Assets (Level 1) Observable Inputs (Level 2) Unobservable Inputs (Level 3) Assets Money market funds $ 1,172 $ 1,172 $ — $ — Commercial paper 102,928 — 102,928 — US treasuries and agency bonds 6,002 — 6,002 — Corporate bonds 14,799 — 14,799 — Total assets measured at fair value $ 124,901 $ 1,172 $ 123,729 $ — Liabilities Contingent consideration $ 848 $ — $ — $ 848 Common stock warrant liability 38,253 — — 38,253 Total liabilities measured at fair value $ 39,101 $ — $ — $ 39,101 October 2, 2015 Fair Value Active Markets for Identical Assets (Level 1) Observable Inputs (Level 2) Unobservable Inputs (Level 3) Assets Money market funds $ 15,000 $ 15,000 $ — $ — US treasuries and agency bonds 15,095 — 15,095 — Corporate bonds 24,462 — 24,462 — Total assets measured at fair value $ 54,557 $ 15,000 $ 39,557 $ — Liabilities Contingent consideration $ 1,150 $ — $ — $ 1,150 Warrant liability 21,822 — — 21,822 Total liabilities measured at fair value $ 22,972 $ — $ — $ 22,972 The quantitative information utilized in the fair value calculation of our Level 3 liabilities are as follows: Inputs Liabilities Valuation Technique Unobservable Input September 30, 2016 October 2, 2015 Contingent consideration Discounted cash flow Discount rate 12.9% 16.0% Probability of achievement 75% - 100% 75% - 90% Timing of cash flows 1 year 2 years Warrant liability Black-scholes model Volatility 43.2% 36.0% Discount rate 1.14% 1.30% Expected life 4.2 years 5.2 years Exercise price $14.05 $14.05 The fair values of the contingent consideration liabilities were estimated based upon a risk-adjusted present value of the probability-weighted expected payments by us. Specifically, we considered base, upside and downside scenarios for the operating metrics upon which the contingent payments are to be based. Probabilities were assigned to each scenario and the probability-weighted payments were discounted to present value using risk-adjusted discount rates. The maximum possible payment of contingent consideration is $1.5 million . As of September 30, 2016 and October 2, 2015 , the fair value of the common stock warrant liability has been estimated using a Black-Scholes option pricing model. Prior to September 30, 2016, expected volatility was based on our own historical trading experience averaged with the historical volatility of our publicly-traded peer companies since we lacked sufficient historical data to use our own volatility on a stand-alone basis. As of September 30, 2016, we have begun to use our own historical trading history to calculate estimated volatility since we now had sufficient historical experience based on the remaining term of the warrants. The changes in assets and liabilities with inputs classified within Level 3 of the fair value hierarchy consist of the following (in thousands): Fiscal Year 2016 October 2, Net Realized/Unrealized Losses (Gains) Included in Earnings Purchases and Issuances Sales and Settlements Transfers in and/or (out) of Level 3 September 30, Contingent consideration $ 1,150 $ 98 $ — $ (400 ) $ — $ 848 Warrant liability $ 21,822 $ 16,431 $ — $ — $ — $ 38,253 Fiscal Year 2015 October 3, Net Realized/Unrealized Losses (Gains) Included in Earnings Purchases and Issuances Sales and Settlements Transfers in and/or (out) of Level 3 October 2, Trading securities $ 250 $ — $ 500 $ (750 ) $ — $ — Contingent consideration $ 820 $ 330 $ — $ — $ — $ 1,150 Warrant liability $ 15,801 $ 6,021 $ — $ — $ — $ 21,822 Fiscal Year 2014 September 27, Net Realized/Unrealized Losses (Gains) Included in Earnings Purchases and Issuances Sales and Settlements Transfers in and/or (out) of Level 3 October 3, Trading securities $ — $ — $ 250 $ — $ — $ 250 Contingent consideration $ — $ — $ 820 $ — $ — $ 820 Warrant liability $ 11,873 $ 3,928 $ — $ — $ — $ 15,801 |
Accounts Receivables Allowances
Accounts Receivables Allowances | 12 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Accounts Receivables Allowances | ACCOUNTS RECEIVABLES ALLOWANCES Summarized below is the activity in our accounts receivable allowances including customer returns, doubtful accounts and other items as follows (in thousands): Fiscal Year 2016 2015 2014 Balance - beginning of year $ 5,745 $ 725 $ 514 Provision (recoveries), net 10,453 11,010 250 Charge-offs (12,919 ) (5,990 ) (39 ) Balance - end of year 3,279 5,745 725 The balance at the end of the fiscal year primarily includes compensation credits and customer returns allowance of $3.0 million , $5.5 million and $0.4 million and allowance for doubtful accounts of $0.2 million for fiscal years 2016 , 2015 and 2014 , respectively. |
Inventories
Inventories | 12 Months Ended |
Sep. 30, 2016 | |
Inventory Disclosure [Abstract] | |
Inventories | INVENTORIES Inventories consist of the following (in thousands): September 30, 2016 October 2, 2015 Raw materials $ 67,378 $ 44,329 Work-in-process 9,157 3,086 Finished goods 38,400 32,528 Total $ 114,935 $ 79,943 |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Sep. 30, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in thousands): September 30, October 2, Land, buildings and improvements $ 12,572 $ 10,981 Construction in process 9,415 25,898 Machinery and equipment 129,639 89,852 Leasehold improvements 12,152 9,161 Furniture and fixtures 1,469 983 Computer equipment and software 12,954 9,307 Total property and equipment 178,201 146,182 Less accumulated depreciation and amortization (79,034 ) (62,423 ) Property and equipment — net $ 99,167 $ 83,759 Depreciation and amortization expense related to property and equipment for fiscal years 2016 , 2015 and 2014 was $ 20.4 million , $15.7 million and $14.0 million , respectively. |
Debt
Debt | 12 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Debt | DEBT On May 8, 2014, we entered into a credit agreement (Credit Agreement) with a syndicate of lenders that provided for term loans in an aggregate principal amount of $350.0 million , which mature in May 2021 (Initial Term Loans) and a revolving credit facility of $100.0 million initially, which matures in May 2019 (Revolving Facility). In February 2015, we executed an amendment to the Credit Agreement that increased our aggregate borrowing capacity under the Revolving Facility to $ 130 million . The Initial Term Loans were issued with an original issue discount of 0.75% , which is being amortized over the term of the Initial Term Loans using the straight-line method, which approximates the effective interest rate method. On August 31, 2016 we entered into an amendment (Incremental Term Loan Amendment) to our Credit Agreement which provided for incremental term loans in an aggregate principal amount of $250.0 million , which mature in May 2021 (Incremental Term Loans, together with the Initial Term Loans, Term Loans). The terms of the Incremental Term Loans are identical to the terms of the Initial Term Loans, other than with respect to upfront fees, original issue discount and arrangement, structuring or similar fees payable in connection therewith. The Incremental Term Loans were issued with an original issue discount of 0.95% , which is being amortized over the term of the Incremental Term Loans using the straight-line method, which approximates the effective interest rate method. Borrowings under the Initial Term Loans and Incremental Term Loans bear interest (payable quarterly) at: (i) for LIBOR loans, a rate per annum equal to the LIBOR rate (subject to a floor of 0.75% ), plus an applicable margin of 3.75% and (ii) for base rate loans, a rate per annum equal to the greater of (x) the prime rate quoted in the print edition of the Wall Street Journal, Money Rates Section, (y) the federal funds rate plus one-half of 1.00% , and (z) the LIBOR rate applicable to a one-month interest period plus 1.00% (but in each case, not less than 1.75% ), plus an applicable margin of 2.75% . Borrowings under the Revolving Facility bear interest (payable quarterly) at: (i) for LIBOR loans, a rate per annum equal to the LIBOR rate, plus an applicable margin in the range of 2.00% to 2.50% (based on our total net leverage ratio being within certain defined ranges); and, (ii) for base rate loans, a rate per annum equal to the prime rate, plus an applicable margin in the range of 1.00% to 1.50% (based on our total net leverage ratio being within certain defined ranges). The effective interest rate on our Initial Term Loans and Incremental Term Loans was 4.5% as of September 30, 2016 . We also pay a quarterly unused line fee for the Revolving Facility in the range of 0.25% to 0.375% (based on our total net leverage ratio being within certain defined ranges) as well as overall agency fees. As of September 30, 2016 , we had no borrowings under the Revolving Facility. The combined Initial Term Loans and Incremental Term Loans are payable in quarterly principal installments of approximately $1.5 million on the last business day of each calendar quarter, beginning on September 30, 2016 , with the remainder due on the maturity date. In the event that we divest a business, the net cash proceeds of the divestment are generally to be applied to repayment of outstanding Term Loans except to the extent we reinvest such proceeds in assets useful for its business within 18 months of receiving the proceeds. To the extent we enter into a binding agreement to reinvest such proceeds within 18 months of receiving them, we have until the later of 18 months following its receipt of the proceeds and 6 months following the date of such agreement to complete the reinvestment. At the signing of the Credit Agreement and the Incremental Term Loan Amendment, the entire $350.0 million principal amount of the Initial Term Loans and $250.0 million principal amount of the Incremental Term Loans, respectively, were funded. The Term Loans and Revolving Facility are secured by a first priority lien on substantially all of our assets and provide that we must comply with certain financial covenants. We incurred $8.7 million in fees for the issuance of the Credit Agreement and $3.1 million in fees for the issuance of the Incremental Term Loan Amendment, which were recorded as deferred financing costs and are being amortized over the life of the Credit Agreement as interest expense. As of September 30, 2016 , approximately $8.8 million of deferred financing costs remain unamortized, of which $7.5 million related to the Incremental Term Loans is recorded as a direct reduction of the recognized debt liabilities in our accompanying consolidated balance sheet, and $1.3 million related to the Revolving Facility is recorded in other assets in our accompanying consolidated balance sheet. The Term Loans and Incremental Term Loans are secured by a first priority lien on substantially all of our assets and provide that we must comply with certain financial and non-financial covenants. As of September 30, 2016 , we were in compliance with all financial and non-financial covenants under the Credit Agreement and we had $591.5 million of outstanding Term Loan borrowings under the Credit Agreement and $130.0 million of borrowing capacity under our Revolving Facility. As of September 30, 2016 , the following remained outstanding on the Term Loans: Principal balance $ 591,487 Unamortized discount (4,051 ) Total Term loans 587,436 Current portion 6,051 Long-term, less current portion $ 581,385 As of September 30, 2016 , the minimum principal payments under the Term Loans in future fiscal years were as follows (in thousands): 2017 $ 6,051 2018 6,051 2019 6,051 2020 6,051 2021 567,283 Total $ 591,487 The fair value of the Term Loans was estimated to be approximately $595.9 million as of September 30, 2016 , and was determined using Level 2 inputs, including a quoted rate from a bank. In fiscal year 2016 we retroactively adopted ASU 2015-03, and as a result we classified $ 7.5 million and $ 5.4 million of debt issuance costs for fiscal years ended September 30, 2016 and October 2, 2015 , respectively, as a direct reduction of long term debt in our accompanying consolidated balance sheet. In connection with the FiBest Acquisition during fiscal year 2016, we assumed $ 11.6 million of debt, of which approximately $3.1 million was outstanding as of September 30, 2016 . In connection with the BinOptics Acquisition during fiscal year 2015, we assumed debt of approximately $2.5 million of which approximately $ 0.5 million was outstanding as of September 30, 2016 , which is included in the current portion of long term debt. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Sep. 30, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS We established a defined contribution savings plan under Section 401(k) of the Code (Section 401(k)) on October 1, 2009 ( 401 (k) Plan). The 401 (k) Plan follows a calendar year, covers substantially all U.S. employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pretax basis, subject to legal limitations. Our contributions to the plan may be made at the discretion of the board of directors. During the fiscal year ended September 30, 2016 , we contributed $1.9 million to our 401 (k) Plan for calendar year 2015 . There were no contributions made by us to the 401 (k) Plan for calendar year 2016 through September 30, 2016 . Our employees located in foreign jurisdictions meeting minimum age and service requirements participate in defined contribution plans whereby participants may defer a portion of their annual compensation on a pretax basis, subject to legal limitations. Company contributions to these plans are discretionary and vary per region. We expensed contributions of $1.1 million, $1.0 million and $1.0 million for fiscal years 2016 , 2015 and 2014 , respectively. |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Sep. 30, 2016 | |
Other Liabilities Disclosure [Abstract] | |
Accrued Liabilities | ACCRUED LIABILITIES Accrued liabilities consist of the following (in thousands): September 30, October 2, Compensation and benefits $ 32,563 $ 20,711 Interest payable 4,314 3,502 Distribution costs 3,584 3,091 Restructuring costs 3,104 943 Asset retirement obligations 2,932 — Professional fees 1,706 2,167 Rent and utilities 1,310 1,458 Product warranty 1,039 656 Software licenses 90 1,223 Other 3,726 4,356 Total $ 54,368 $ 38,107 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Operating Leases —We have non-cancelable operating lease agreements for office, research and development and manufacturing space in the United States and foreign locations. We also have operating leases for certain equipment, automobiles and services in the United States and foreign jurisdictions. These lease agreements expire at various dates through 2026, and certain agreements contain provisions for extension at substantially the same terms as currently in effect. Lease escalation clauses, rent abatements and/or concessions, such as rent holidays and landlord or tenant incentives or allowances, are typically included in the determination of straight-line rent expense over the lease term. Future minimum lease payments for the next five fiscal years as of September 30, 2016 , are as follows (in thousands): 2017 $ 9,245 2018 6,715 2019 5,865 2020 3,188 2021 1,560 Thereafter 5,475 Total minimum lease payments $ 32,048 Rent expense incurred under non-cancelable operating leases was $7.0 million , $6.5 million and $6.6 million in fiscal years 2016 , 2015 and 2014 , respectively. Asset Retirement Obligations —We are obligated under certain facility leases to restore those facilities to the condition in which we or our predecessors first occupied the facilities. We are required to remove leasehold improvements and equipment installed in these facilities prior to termination of the leases. As of the end of fiscal years 2016 , 2015 and 2014 , the estimated costs for the removal of these assets are recorded as asset retirement obligations was $4.3 million , $1.3 million and $1.8 million , respectively. Unused Letter of Credit —As of September 30, 2016 , we had outstanding unused letters of credit from a bank aggregating $0.4 million. Purchase Commitments —As of September 30, 2016 , we had outstanding non-cancelable purchase commitments aggregating $ 1.1 million pursuant to inventory supply arrangements. Litigation —From time to time we may be subject to commercial disputes, employment issues, claims by other companies in the industry that we have infringed their intellectual property rights and other similar claims and litigations. Any such claims may lead to future litigation and material damages and defense costs. Other than as set forth below, we were not involved in any material pending legal proceedings during the year ended September 30, 2016 . GaN Lawsuit Against Infineon — On April 26, 2016, we and our wholly-owned subsidiary Nitronex, LLC brought suit against International Rectifier Corporation (International Rectifier), Infineon Technologies Americas Corporation (Infineon Americas), and Infineon Technologies AG (Infineon AG) (collectively, Infineon) in the Federal District Court for the Central District of California, seeking injunctive relief, monetary damages, and specific performance of certain contractual obligations. On July 19, 2016, we filed a first amended complaint omitting International Rectifier as a defendant (since we had been advised that formal legal entity no longer exists) and adding a further claim of breach of contract based on some of Infineon’s GaN-on-Si product activities, among other changes. The suit arises out of agreements relating to GaN patents that were executed in 2010 by Nitronex Corporation (acquired by MACOM in 2014) and International Rectifier (acquired by Infineon AG in 2015). We assert claims for breach of contract, breach of the covenant of good faith and fair dealing, declaratory judgment of contractual rights, and declaratory judgment of non-infringement of patents. If successful, the relief sought in our first amended complaint would, among other remedies, require Infineon to assign back to us certain GaN-related Nitronex patents that were previously assigned to International Rectifier and enjoin Infineon from proceeding with its marketing and sales of certain types of GaN-on-Si products. On August 9, 2016, we moved for a preliminary injunction on our Third Claim for Relief, which seeks a declaration that the 2010 exclusive license from Infineon to MACOM is still in effect, and asking the Court to enjoin Infineon from acting inconsistently with that license. On August 17, 2016, both Infineon entities moved to dismiss our claims asserted against them on various grounds. In an order dated October 31, 2016, the Court: (a) granted MACOM’s motion for preliminary injunction; (b) denied Infineon Americas’ motion to dismiss; and (c) granted in part and denied in part Infineon AG’s motion to dismiss. With respect to the above legal proceeding, we have not been able to reasonably estimate the amount or range of any possible loss, and accordingly have not accrued or disclosed any related amounts of possible loss in the accompanying consolidated financial statements. |
Restructurings
Restructurings | 12 Months Ended |
Sep. 30, 2016 | |
Restructuring and Related Activities [Abstract] | |
Restructurings | RESTRUCTURINGS We have periodically implemented restructuring actions in connection with broader plans to reduce staffing, reduce our internal manufacturing footprint and, generally, reduce operating costs. The restructuring expenses are primarily comprised of direct and incremental costs related to headcount reductions including severance and outplacement fees for the terminated employees, as well as facility close costs. The following is a summary of the costs incurred and remaining balances included in accrued expenses related to restructuring actions taken (in thousands): Total Balance - September 27, 2013 $ 145 Current period charges 14,823 Payments (14,167 ) Balance - October 3, 2014 801 Current period charges 1,280 Payments (1,138 ) Balance - October 2, 2015 943 Current period charges 3,465 Payments (1,304 ) Balance at September 30, 2016 $ 3,104 The restructuring expenses recorded to date are expected to be paid through the remainder of calendar year 2016. We expect to incur additional restructuring costs in the range of approximately $1.0 million and $3.0 million during the remainder of calendar year 2016 as we complete restructuring actions primarily associated with the Metelics Acquisition. |
Product Warranties
Product Warranties | 12 Months Ended |
Sep. 30, 2016 | |
Guarantees [Abstract] | |
Product Warranties | PRODUCT WARRANTIES We establish a product warranty liability at the time of revenue recognition. Product warranties generally have terms of between 12 months and 60 months and cover nonconformance with specifications and defects in material or workmanship. For sales to distributors, our warranty generally begins when the product is resold by the distributor. The liability is based on estimated costs to fulfill customer product warranty obligations and utilizes historical product failure rates. Should actual warranty obligations differ from estimates, revisions to the warranty liability may be required. Product warranty liability activity is as follows (in thousands): Fiscal Years 2016 2015 2014 Balance — beginning of year $ 656 $ 446 $ 318 Impact of acquisition 413 50 202 Provisions (30 ) 160 (74 ) Balance — end of year $ 1,039 $ 656 $ 446 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | INTANGIBLE ASSETS Amortization expense related to amortized intangible assets is as follows (in thousands): Fiscal Years 2016 2015 2014 Cost of revenue $ 26,615 $ 27,285 $ 18,787 Selling, general and administrative 23,640 11,695 1,806 Total $ 50,255 $ 38,980 $ 20,593 Intangible assets consist of the following (in thousands): September 30, October 2, Acquired technology $ 165,397 $ 162,536 Customer relationships 207,674 144,070 In-process research and development 8,000 8,000 Trade name 3,400 3,400 Total 384,471 318,006 Less accumulated amortization (124,869 ) (74,340 ) Intangible assets — net $ 259,602 $ 243,666 A summary of the activity in intangible assets and goodwill follows (in thousands): Total Acquired Customer In-Process Research and Development Trade Name Goodwill Balance at October 3, 2014 $ 188,777 $ 131,953 $ 24,670 $ 17,970 $ 3,400 $ 10,784 Net intangibles acquired 224,470 17,500 119,400 — — 87,570 Placed in service — 9,780 — (9,780 ) — — Adjustment to fair value (190 ) — — (190 ) — — Goodwill allocation to discontinued operations (5,008 ) — — — — (5,008 ) Other intangibles purchased 3,303 3,303 — — — — Balance at October 2, 2015 411,352 162,536 144,070 8,000 3,400 93,346 Net intangibles acquired 85,762 10,400 54,950 — — 20,412 Adjustment to fair value 16,801 1,881 8,654 — — 6,266 Impairments of intangible assets (10,088 ) (10,088 ) — — — — Other intangibles purchased 668 668 — — — — Balance at September 30, 2016 $ 504,495 $ 165,397 $ 207,674 $ 8,000 $ 3,400 $ 120,024 As of September 30, 2016 , our estimated amortization of our intangible assets in future fiscal years, subject to the completion of the purchase price allocation for the FiBest and Metelics acquisitions, was as follows (in thousands): 2017 2018 2019 2020 2021 Thereafter Amortization expense $ 51,647 48,742 42,045 33,914 27,613 44,241 Our trade name is an indefinite-lived intangible asset. During development, in-process research and development (IPR&D) is not subject to amortization and is tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test consists of a qualitative assessment using an assumption of ‘more likely than not’ to determine if there were any impairment indicators. If impairment exists, a loss is recognized in an amount equal to that excess. Once an IPR&D project is complete, it becomes a definite long-lived intangible asset and is evaluated for impairment in accordance with our policy for long-lived assets. Accumulated amortization, for the acquired technology and customer relationships, was $ 76.7 million and $ 48.1 million, respectively, as of September 30, 2016 , and $ 52.0 million and $ 22.3 million, respectively, as of October 2, 2015 . During the second quarter of fiscal year 2016, we made a strategic decision to exit the product line and end programs associated with our GaN-on-SiC license and technology transfer to focus on development of our GaN-on-SiC efforts. As a result of this strategic decision, we determined that the intangible assets and contractual commitments under the long term technology licensing and transfer agreement signed in July 2013, as well as certain dedicated fixed assets and inventory, would no longer have any future benefit. The associated charges incurred during the nine months ended July 1, 2016 were $ 13.8 million which included a write-off of $ 10.1 million of intangible assets, $ 0.6 million of property and equipment, $ 1.1 million of contractual commitments and $ 2.0 million of inventory. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES Deferred income taxes reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. The components of our deferred tax assets and liabilities are as follows (in thousands): September 30, October 2, Current deferred tax assets: Accrued liabilities $ — $ 11,332 Inventory — 5,043 Deferred revenue — (3 ) Accounts receivable — 51 Federal net operating loss — 11,186 Other current deferred tax assets — — Discontinued operations — 2,703 Deferred compensation — 3,468 Valuation allowance — (2,349 ) Current net deferred tax assets $ — $ 31,431 Non-current deferred tax assets (liabilities): Federal and foreign net operating losses and credits $ 85,256 $ 70,448 Intangible assets (49,725 ) (44,196 ) Property and equipment (2,730 ) (2,977 ) Other non-current deferred tax assets 21,855 292 Discontinued operations 9,100 9,191 Deferred compensation 5,545 1,066 Deferred gain 19,011 23,531 Valuation allowance (10,471 ) (9,116 ) Non-current net deferred tax assets (liabilities) 77,841 48,239 Total deferred tax asset $ 77,841 $ 79,670 Included in the above table are the attributes of our Japan jurisdiction which is in a net liability position of $ 11.8 million and comprised primarily of a liability of $ 14.9 million relating to intangible assets offset by a $ 2.9 million net operating loss. In fiscal year 2016 we adopted ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes. Upon adoption we included our current deferred income tax assets with our noncurrent deferred income tax assets; no adjustments were made to deferred tax liabilities. As of September 30, 2016 , we have $195.7 million of gross federal net operating loss (NOL) carryforwards consisting of $2.2 million relating to the BinOptics Acquisition and $193.5 million relating to prior acquisitions. The federal net operating loss carryforwards will expire at various dates through 2035. The reported net operating loss carryforward includes any limitation under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended, which applies to an ownership change as defined under Section 382. As of September 30, 2016 , we also have $7.0 million of gross net operating loss carryforwards in Japan which will expire at various dates through 2025. During the fourth quarter of fiscal 2016, we identified and corrected a prior period error where we understated our income tax benefit during 2013 through 2015. This was a result of the incorrect recording of intercompany pretax income among a few of our operating entities and due to the fact that these entities had different statutory tax rates. The out-of-period correction resulted in a $ 3.9 million increase in income tax benefit in the fiscal year ended September 30, 2016 of which $ 1.7 million , $ 1.0 million and $ 1.2 million related to the prior fiscal years 2015, 2014 and 2013, respectively. The domestic and foreign income (loss) from continuing operations before taxes were as follows (in thousands): Fiscal Years 2016 2015 2014 United States $ (46,593 ) $ (34,251 ) $ (60,836 ) Foreign 25,022 18,851 19,936 (Loss) income from operations before income taxes $ (21,571 ) $ (15,400 ) $ (40,900 ) The components of the provision (benefit) for income taxes are as follows (in thousands): Fiscal Years 2016 2015 2014 Current: Federal $ (5,861 ) $ (19,015 ) $ 712 State (766 ) 688 (419 ) Foreign 906 1,092 2,181 Current provision (benefit) (5,721 ) (17,235 ) 2,474 Deferred: Federal (8,163 ) 10,845 (16,557 ) State (502 ) (4,131 ) (756 ) Foreign (2,603 ) (1,302 ) (725 ) Change in valuation allowance (994 ) 1,965 (522 ) Deferred provision (benefit) (12,262 ) 7,377 (18,560 ) Total provision (benefit) $ (17,983 ) $ (9,858 ) $ (16,086 ) Our net deferred tax asset relates predominantly to our operations in the United States. A valuation allowance is recorded when, based on assessment of both positive and negative evidence, management determines that it is not more likely than not that the assets are recoverable. Such assessment is required on a jurisdictional basis. The $10.5 million of valuation allowance as of September 30, 2016 relates primarily to state NOL and tax credit carryforwards assumed in the Mindspeed Acquisition and UK tax credit and NOL carryforwards whose recovery is not considered more likely than not. The $11.5 million of valuation allowance as of October 2, 2015 related primarily to state NOL carryforwards assumed in the Mindspeed Acquisition and UK tax credit and NOL carryforwards whose recovery is not considered more likely than not. The change during the year ending September 30, 2016 of $1.0 million primarily relates to state NOL and tax credit carryforwards. Our effective tax rates differ from the federal and statutory rate as follows: Fiscal Years 2016 2015 2014 Federal statutory rate 35.0 % 35.0 % 35.0 % Foreign rate differential 40.1 30.5 11.2 State taxes net of federal benefit 1.0 3.5 1.8 Warrant liabilities (26.7 ) (13.7 ) (3.4 ) Change in valuation allowance 3.0 (6.0 ) (0.3 ) Research and development credits 16.9 16.1 1.9 Correction of prior period 18.3 — — Provision to return adjustments 3.5 9.9 — Nondeductible compensation expense (9.2 ) (8.9 ) (1.5 ) Nondeductible legal fees (1.8 ) (4.1 ) (1.9 ) Nitronex losses — — (2.6 ) Other permanent differences 3.3 1.6 (0.8 ) Effective income tax rate 83.4 % 63.9 % 39.4 % For fiscal years 2016 , 2015 and 2014 , the effective tax rates to calculate the tax benefit on $21.6 million , $15.4 million and $40.9 million , respectively, of pre-tax loss from continuing operations were 83.4% , 63.9% and 39.4% , respectively. The effective income tax rate for fiscal years 2016 , 2015 and 2014 were primarily impacted by a lower income tax rate in many foreign jurisdictions in which our foreign subsidiaries operate, research and development tax credits, and the fair market value adjustment of warrant liabilities. For fiscal years 2015 and 2016, the rate was impacted by a retroactive enactment of the R&D tax credit from fiscal years 2014 and 2015, respectively, and a larger shift of the revenue associated with foreign entities taxed at lower rates as part of our auto divestiture. In addition, the effective income tax rate for fiscal year 2014 was impacted by pre-acquisition Nitronex losses. All earnings of foreign subsidiaries are considered indefinitely reinvested for the periods presented. Undistributed earnings of all foreign subsidiaries as of September 30, 2016 aggregated $105.3 million , with Ireland and Grand Cayman accounting for $45.0 million and $56.3 million , respectively. It is not practicable to determine the U.S. federal and state deferred tax liabilities associated with such foreign earnings. Activity related to unrecognized tax benefits is as follows (in thousands): Amount Balance - October 3, 2014 (1,670 ) Additions based on tax positions — Reductions based on tax positions — Balance - October 2, 2015 $ (1,670 ) Additions based on tax positions — Reductions based on tax positions — Balance at September 30, 2016 $ (1,670 ) The balance of the unrecognized tax benefit as of September 30, 2016 , is included in other long-term liabilities in the accompanying consolidated balance sheets. The entire balance of unrecognized tax benefits, if recognized, will reduce income tax expense. It is our policy to recognize any interest and penalties accrued related to unrecognized tax benefits in income tax expense. During fiscal year 2016 , we did not make any payment of interest and penalties. There was nothing accrued in the consolidated balance sheets for the payment of interest and penalties at September 30, 2016 , as the remaining unrecognized tax benefits would only serve to reduce our current federal and state NOL carryforwards, if ultimately recognized. A summary of the fiscal tax years that remain subject to examination, as of September 30, 2016 , for the Company’s significant tax jurisdictions are: Jurisdiction Tax Years Subject to Examination United States—federal 2013 - forward United States—various states 2013 - forward Ireland 2012 - forward Generally, we are no longer subject to federal income tax examinations for years before 2013, except to the extent of loss and tax credit carryforwards from those years. |
Share - Based Compensation Plan
Share - Based Compensation Plans | 12 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share - Based Compensation Plans | SHARE-BASED COMPENSATION PLANS Stock Plans We have three equity incentive plans: the Amended and Restated 2009 Stock Incentive Plan (2009 Plan), the 2012 Omnibus Incentive Plan (2012 Plan) and the 2012 Employee Stock Purchase Plan (ESPP). Upon the closing of the IPO, all shares that were reserved under the 2009 Plan but not awarded were assumed by the 2012 Plan. No additional awards will be made under the 2009 Plan. Under the 2012 Plan, we have the ability to issue incentive stock options (ISOs), non-statutory stock options (NSOs), performance based non-statutory stock options, stock appreciation rights, restricted stock (RSAs), restricted stock units (RSUs), performance-based stock units (PRSUs), performance shares and other equity-based awards to employees, directors and outside consultants. The ISOs and NSOs must be granted at a price per share not less than the fair value of our common stock on the date of grant. Options granted to date primarily vest based on certain market-based and performance-based criteria as described below. Certain of the share-based awards granted and outstanding as of September 30, 2016 , are subject to accelerated vesting upon a sale of the Company or similar changes in control. Options granted generally have a term of 7 to 10 years. As of September 30, 2016 , we had 13.9 million shares available for future issuance under the 2012 Plan. The financial impact of any modifications to share-based awards during the periods presented was not material. Share-Based Compensation The following table shows a summary of share-based compensation expense included in the Consolidated Statement of Operations during the periods presented (in thousands): Fiscal Years 2016 2015 2014 Cost of revenue $ 2,150 $ 1,949 $ 1,771 Research and development 6,568 5,447 2,818 Selling, general and administrative 18,236 12,039 6,688 Total $ 26,954 $ 19,435 $ 11,277 Amounts presented above included share-based compensation expense in fiscal years 2015 and 2014, related to employees terminated in conjunction with the Automotive divestiture in August 2015, of $ 0.4 million and $ 0.3 million , respectively. As of September 30, 2016 , the total unrecognized compensation costs, adjusted for estimated forfeitures, related to outstanding stock options, restricted stock awards and units including awards with time-based and performance based vesting was $49.2 million , which we expect to recognize over a weighted-average period of 2.8 years. Stock Options A summary of stock option activity for fiscal year 2016 is as follows (in thousands, except per share amounts): Number of Shares Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Options outstanding - October 2, 2015 889 $ 18.40 Granted 305 32.22 Exercised (130 ) 9.61 Forfeited, canceled or expired (16 ) 40.04 Options outstanding - September 30, 2016 1,048 $ 23.18 5.79 20,073 Options vested and expected to vest - September 30, 2016 1,048 $ 23.18 5.79 20,073 Options exercisable - September 30, 2016 508 $ 12.91 5.68 14,939 Aggregate intrinsic value represents the difference between our closing stock price on September 30, 2016 , and the exercise price of outstanding, in-the-money options. The total intrinsic value of options exercised was $3.7 million , $7.1 million and $7.6 million for fiscal year 2016 , 2015 and 2014 , respectively. Stock Options with Performance-based Vesting Criteria In April 2016, we granted 5,000 non-qualified stock options which will vest subject to certain performance metrics such as revenue and gross margin targets being achieved. These performance stock options were valued at $ 10.54 per share at the date of grant using the Black-Scholes option pricing model. In April 2015 and May 2015, the Company granted 225,000 non-qualified stock options which will vest subject to certain performance metrics such as revenue and gross margin targets being achieved. The aggregate fair value of these stock options was approximately $ 2.0 million on the date of grant and are subject to vesting based on performance and service conditions being met. We used a Black-Scholes valuation model for estimating the fair value on the date of grant of $ 10.35 and $ 10.12 per option share, respectively. The fair value of stock options are affected by valuation assumptions, including volatility, the Company’s stock price, expected term of the option, risk-free interest rate and expected dividends. These stock options will fully vest and become exercisable if certain performance criteria are met or exceeded in any period of four consecutive fiscal quarters completed during the term of the options based on pre-established revenue and gross margin targets. The stock options have a term of seven years, assuming continued employment with or services to the Company, and have an average exercise price of $ 34.06 and equal to the closing price of the Company’s common stock on the date of grant. The weighted average Black-Scholes input assumptions used for calculating the fair value of stock options are as follows: Fiscal Years 2016 2015 2014 Risk-free interest rate 1.2 % 1.2 % — % Expected term (years) 4.0 4 0 Expected volatility 31.8 % 36.2 % — % Expected dividends — % — % — % Stock Options with Market-based Vesting Criteria In November 2015, we granted 300,000 non-qualified stock options with a grant date fair value of $ 3.5 million that are subject to vesting only upon the market price of our underlying public stock closing above a certain price target within seven years of the date of grant. These non-qualified stock options with market related vesting conditions were valued using a Monte Carlo simulation model. Share-based compensation expense is recognized regardless of the number of awards that are earned based on the market condition and is recognized on a straight-line basis over the estimated service period of approximately three years. In the event that the Company’s underlying public stock achieves the target price of $ 64.22 per share based on a 30 day trailing average prior to the end of the estimated service period, any remaining unamortized compensation cost will be recognized. In September 2015, we granted 30,000 stock options awards, with an exercise price of $ 29.80 , under the 2012 Plan with a grant date fair value of $ 0.4 million that are subject to vesting only upon the market price of the Company's underlying public stock closing at $ 63.60 for at least a consecutive three trading day period. These stock options' fair value of $ 12.38 per option was estimated using a Monte Carlo simulation model based on the market conditions vesting condition. Compensation cost is recognized on a straight-line basis over the estimated service period of approximately three years, expiring in September 2022. In April 2014, we granted stock options as to 405,000 shares of common stock with a grant date fair value of $ 3.5 million that are subject to vesting only upon the market price of our underlying public stock closing above a certain price target within ten years of the grant date. Due to the market condition upon which vesting is based, the fair value of the awards was estimated using a Monte Carlo simulation model. Compensation expense is recognized regardless of the number of awards that are earned based on the market condition and is recognized on a straight-line basis over the estimated service period of three years. During 2015, our common stock closed at a price of $ 34.79 per share, exceeding the target price of $ 32.55 per share, which resulted in the recognition of approximately $ 2.5 million of compensation expense. The weighted average Monte Carlo input assumptions used for calculating the fair value of stock options are as follows: Fiscal Years 2016 2015 2014 Risk-free interest rate 2.1 % 1.9 % 2.7 % Expected term (years) 7 7 10 Expected volatility 36.5 % 37.4 % 42.6 % Restricted Stock Awards and Units A summary of restricted stock awards and units activity for fiscal year 2016 is as follows (in thousands): Number of Shares Weighted-Average Grant Date Fair Value Aggregate Intrinsic Value Issued and unvested - October 2, 2015 1,692 $ 25.30 $ 48,375 Granted 864 39.73 Vested (750 ) 23.88 Forfeited, canceled or expired (98 ) 33.36 Issued and unvested shares - September 30, 2016 1,708 32.76 $ 72,165 As of September 30, 2016 , the aggregate intrinsic value of vesting restricted stock units including time-based and performance units was $67.3 million for fiscal year 2016 . The total fair value of restricted stock awards and units vesting was $26.5 million , $23.3 million and $9.2 million for the fiscal years 2016 , 2015 and 2014 , respectively. PRSU awards, which are also included in the table above, have two vesting conditions (1) based on performance where awards are divided into three equal tranches and will vest based on achieving certain adjusted earnings per share (EPS) growth targets and (2) a service condition where the employee must be employed on May 15th of the following year once the performance condition being met. Depending on the actual performance achieved, a participant may earn between 0% to 300% of the targeted shares for each tranche which is determined based on a straight-line interpolation applied for the achievement between the specified performance ranges. PRSU awards were granted during fiscal year 2015 and 2016 with performance criteria and service conditions have been met on the first tranche of fiscal year 2015 awards resulting in a vesting at 300% of targeted shares. The performance criteria for the first tranche of the fiscal year 2016 awards and the second tranche of the fiscal year 2015 awards have met and are expected to vest assuming continued employment with, or services to us, through the vest date of May 15th following the date of when the performance criteria has been met. Incremental PRSU awards that could ultimately vest if all performance criteria are achieved would be 240,585 shares assuming a maximum of 300% of the targeted shares. Employee Stock Purchase Plan (ESPP) The ESPP allows eligible employees to purchase shares of our common stock at a discount through payroll deductions of up to 15% of their eligible compensation, subject to any plan limitations. In administering the ESPP, the board of directors has limited discretion to set the length of the offering periods thereunder. As of September 30, 2016 , total unrecognized compensation cost related to the ESPP was not material. In fiscal years 2016 and 2015 , approximately 154,000 and 176,000 , respectively, of shares of common stock were issued under the ESPP. The 2012 Plan contains an “evergreen” provision, pursuant to which the number of shares of common stock available for issuance under the 2012 Plan can be increased on the first day of each fiscal year equal by the lesser of (a) 4.0% of outstanding common stock on a fully diluted basis as of the end of the immediately preceding fiscal year, (b) 1.9 million shares of common stock and (c) a lesser amount determined by the board of directors; provided, however, that any shares from any increases in previous years that are not actually issued will continue to be available for issuance under the 2012 Plan. The ESPP also contains an “evergreen” provision, pursuant to which the number of shares of common stock available for issuance under the ESPP can be increased on the first day of each fiscal year equal by the lesser of (a) 1.25% of outstanding common stock on a fully diluted basis as of the end of the immediately preceding fiscal year, (b) 550,000 shares of common stock and (c) a lesser amount determined by the board of directors; provided, however, that any shares from any increases in previous years that are not actually issued will continue to be available for issuance under the ESPP. In fiscal year 2016 , pursuant to the evergreen provisions, the number of shares of common stock available for issuance under the 2012 Plan and the ESPP were increased by 1.9 million shares and 550,000 shares, respectively. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Stockholders' Equity | STOCKHOLDERS’ EQUITY We have authorized 10 million shares of $0.001 par value preferred stock and 300 million shares of $0.001 par value common stock as of September 30, 2016 and October 2, 2015 . The outstanding shares of common stock as of September 30, 2016 and October 2, 2015 , presented in the accompanying consolidated statements of stockholders’ equity, exclude 3,300 and 11,000 unvested shares of restricted stock awards, respectively, issued as compensation to employees that were subject to forfeiture. Common Stock Warrants —In March 2012, we issued warrants to purchase 1,281,358 shares of common stock for $14.05 per share. The warrants expire December 21, 2020 , or earlier as per the terms of the agreement, including immediately following consummation of a sale of all or substantially all assets or capital stock or other equity securities, including by merger, consolidation, recapitalization or similar transactions. We do not currently have sufficient registered and available shares to immediately satisfy a request for registration, if such a request were made. As of September 30, 2016 , no exercise of the warrants had occurred and no request had been made to register the warrants or any underlying securities for resale by the holders. We are recording the estimated fair values of the warrants as a long-term liability in the accompanying consolidated financial statements with changes in the estimated fair value being recorded in the accompanying statements of operations. |
Related-Party Transactions
Related-Party Transactions | 12 Months Ended |
Sep. 30, 2016 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | RELATED-PARTY TRANSACTIONS GaAs Labs, LLC (GaAs Labs), a former stockholder and an affiliate of directors John and Susan Ocampo, continues to engage us to provide administrative and business development services to GaAs Labs on a time and materials basis. There are no minimum service requirements or payment obligations and the agreement may be terminated by either party with 30 days notice. In the fiscal year ended September 30, 2016 , we recorded charges to GaAs Labs of $0.1 million and $0.1 million in fiscal years 2016 and 2014 , respectively, for services provided pursuant to this agreement. No charges were recorded in fiscal year 2015 . We have recorded these amounts as other income in the accompanying consolidated statements of operations. In fiscal years 2016 , 2015 and 2014 , we recorded revenue of $0.1 million, $1.1 million and 0.2 million, respectively, associated with product sales to a public company with a common director. |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Sep. 30, 2016 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | DISCONTINUED OPERATIONS In August of fiscal year 2015, we sold our Automotive business to Autoliv ASP Inc. (Autoliv) as the Automotive business was not consistent with our long-term strategic vision from both a growth and profitability perspective. The agreed consideration included $82.1 million in cash paid at closing and $18.0 million payable in eighteen months pending resolution of any contingencies as part of an indemnification agreement, plus the opportunity to receive up to an additional $30.0 million in cash based on achievement of revenue-based earnout targets through 2019. Additionally, we entered into a Consulting Agreement pursuant to which we may provide Autoliv with certain non-design advisory services for a period of two years following the closing of the transaction for up to $15.0 million in cash. During fiscal year 2015, we recorded a pre-tax gain on the sale of the Automotive business of $ 61.8 million based on the $82.1 million received at closing on August 17, 2015, as described above. The remainder of the consideration to be received from Autoliv, if any, including any amounts related to the consulting agreement, will be accounted for in discontinued operations when the contingencies are finalized and the proceeds, if any, become realizable. In fiscal year 2014, subsequent to closing the Mindspeed Acquisition, we divested the wireless business of Mindspeed. The operations of the wireless business are included in discontinued operations through the date of sale. There was no initial gain or loss on the sale which closed in February 2014. The selling price of the wireless business was $12.3 million and was received upon settlement of all indemnification holdbacks during fiscal year 2014. The final settlement of $1.6 million was received in September 2015, and recorded as a pre-tax gain within discontinued operations. Additionally during fiscal year 2014, we sold non-core assets representing one product line, receiving cash proceeds aggregating $12.0 million . We have no continuing interests in these assets. There was no gain or loss on the sale, which closed in May 2014, and results of this product line are included in continuing operations. The accompanying consolidated statement of operations includes the following operating results related to these divested businesses (in thousands): Automotive Business Mindspeed Wireless Business Fiscal Years Fiscal Years 2016 2015 2014 2016 2015 2014 Revenue $ — $ 71,712 $ 79,473 $ — $ — $ 2,439 Cost of revenue — 46,931 51,425 — — 1,249 Gross profit — 24,781 28,048 — — 1,190 Operating expenses: Research and development — 2,319 2,334 — — 4,531 Selling, general and administrative — 2,441 3,586 — — 1,078 Restructuring charges — — — — — 2,962 Total operating expenses — 4,760 5,920 — — 8,571 Income from discontinued operations — 20,021 22,128 — — (7,381 ) Other income 7,500 4,000 — — — — Gain on sale 308 61,771 — — 1,550 — Income (loss) before income taxes 7,808 85,792 22,128 — 1,550 (7,381 ) Income tax provision (benefit) 2,786 32,652 8,032 — 559 (2,776 ) Income (loss) from discontinued operations $ 5,022 $ 53,140 $ 14,096 $ — $ 991 $ (4,605 ) Above includes depreciation & amortization of $ — $ 189 $ 302 $ — $ — $ — Cashflow from Operating Activities $ — $ (9,513 ) $ 16,945 $ — $ 991 $ (4,605 ) Cashflow from Investing Activities $ 7,500 $ (505 ) $ (275 ) $ — $ — $ — Other income recorded during the fiscal year ended September 30, 2016 , related to the Consulting Agreement with Autoliv. The gain on sale recorded during the fiscal year ended September 30, 2016 , related to the adjustment of accruals established at the time of the sale of the Automotive business. Amounts recorded during the fiscal year ended October 2, 2015 , were from ongoing operating activities prior to the sale of the Automotive business. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE The following table set forth the computation for basic and diluted net income (loss) per share of common stock (in thousands, except per share data): Fiscal Years 2016 2015 2014 Numerator: Income (loss) from continuing operations $ (3,588 ) $ (5,542 ) $ (24,814 ) Income (loss) from discontinued operations 5,022 54,131 9,491 Net income (loss) 1,434 48,589 (15,323 ) Warrant liability gain — — — Net income (loss) attributable to common stockholders $ 1,434 $ 48,589 $ (15,323 ) Denominator: Weighted average common shares outstanding-basic 53,364 51,146 47,009 Dilutive effect of options and warrants — — — Weighted average common shares outstanding-diluted 53,364 51,146 47,009 Common stock earnings per share-basic: Continuing operations $ (0.07 ) $ (0.11 ) $ (0.53 ) Discontinued operations 0.09 1.06 0.20 Net common stock earnings per share-basic $ 0.03 $ 0.95 $ (0.33 ) Common stock earnings per share-diluted: Continuing operations $ (0.07 ) $ (0.11 ) $ (0.53 ) Discontinued operations 0.09 1.06 0.20 Net common stock earnings per share-diluted $ 0.03 $ 0.95 $ (0.33 ) The table above excludes the effects of 1,855 , 2,056 and 1,408 shares for the fiscal years ended 2016 , 2015 and 2014 , respectively, of potential shares of common stock issuable upon exercise of stock options, restricted stock and restricted stock units and warrants as the inclusion would be antidilutive. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Sep. 30, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | SUPPLEMENTAL CASH FLOW INFORMATION As of September 30, 2016 and October 2, 2015 , we had $0.8 million and $ 3.2 million , respectively, in unpaid amounts related to purchases of property and equipment and intangibles included in accounts payable and accrued liabilities during each period. These amounts have been excluded from the payments for purchases of property and equipment in the accompanying consolidated statements of cash flows until paid. Upon closing the Mindspeed Acquisition, we assumed $ 40.2 million of the seller's indebtedness, all of which was paid in fiscal year 2014. The following is supplemental cash flow information regarding noncash investing and financing activities: Fiscal Years 2016 2015 2014 Cash paid for interest $ 16,335 $ 15,607 $ 6,994 Cash paid (refunded) for income taxes $ (373 ) $ 22,676 $ 4,668 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The components of accumulated other comprehensive income (loss), net of income taxes, are as follows: Foreign currency items Other items Total Balance - October 3, 2014 $ (1,264 ) $ (90 ) $ (1,354 ) Foreign currency translation adjustment (918 ) — (918 ) Other adjustment, net of tax — 90 90 Unrealized gain/loss on short term investments — (97 ) (97 ) Balance - October 2, 2015 (2,182 ) (97 ) (2,279 ) Foreign currency translation, net of tax 11,320 — 11,320 Unrealized gain/loss on short term investments — (2 ) (2 ) Balance at September 30, 2016 $ 9,138 $ (99 ) $ 9,039 |
Geographic and Significant Cust
Geographic and Significant Customer Information | 12 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Geographic and Significant Customer Information | GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION We have one reportable operating segment that designs, develops, manufactures and markets semiconductors and modules. The determination of the number of reportable operating segments is based on the chief operating decision maker’s use of financial information for the purposes of assessing performance and making operating decisions. In evaluating financial performance and making operating decisions, the chief operating decision maker primarily uses consolidated revenue, gross profit and operating income (loss). Information about our operations in different geographic regions, based upon customer locations, is presented below (in thousands): Fiscal Years Revenue by Geographic Region 2016 2015 2014 United States $ 155,998 $ 152,974 $ 134,436 Asia Pacific (1) 346,670 231,369 148,141 Other Countries (2) 41,670 36,266 56,612 Total $ 544,338 $ 420,609 $ 339,189 As of September 30, October 2, Long-Lived Assets by Geographic Region United States $ 79,832 $ 72,617 Asia Pacific (1) 16,614 8,740 Other Countries(2) 2,721 2,402 Total $ 99,167 $ 83,759 (1) Asia Pacific represents China, Taiwan, Hong Kong, Japan, Singapore, India, Thailand, Korea, Australia, Malaysia and the Philippines. (2) No international country or region represented greater than 10% of the total net long-lived assets or revenue as of the dates presented, other than the Asia-Pacific region as presented above. The following is a summary of customer concentrations as a percentage of total sales and accounts receivable as of and for the periods presented: Fiscal Years Revenue 2016 2015 2014 Customer A 15 % 8 % 4 % Customer B 12 % 12 % 10 % Customer C 11 % 18 % 19 % September 30, October 2, Accounts Receivable Customer A 11 % 14 % Customer B 16 % 10 % Customer C 11 % 22 % No other customer represented more than 10% of revenue or accounts receivable in the periods presented in the accompanying consolidated financial statements. In fiscal years 2016 , 2015 and 2014 , our top ten customers represented an aggregate of 62% , 57% and 52% of total revenue, respectively. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Sep. 30, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (In thousands, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal Year Fiscal Year 2016 Revenue $ 115,774 $ 133,579 $ 142,288 $ 152,697 $ 544,338 Gross profit 60,318 65,525 73,962 81,804 281,609 Income (loss) from continuing operations (1) (16,770 ) (12,045 ) 21,353 3,874 (3,588 ) Income (loss) from discontinued operations (1) 1,199 1,396 1,199 1,228 5,022 Per share data (2) Income (loss) from continuing operations, basic $ (0.32 ) $ (0.23 ) $ 0.40 $ 0.07 $ (0.07 ) Income (loss) from discontinued operations, basic $ 0.02 $ 0.03 $ 0.02 $ 0.02 $ 0.09 Per share data (2) Income (loss) from continuing operations, diluted $ (0.32 ) $ (0.23 ) $ 0.11 $ 0.07 $ (0.07 ) Income (loss) from discontinued operations, diluted $ 0.02 $ 0.03 $ 0.02 $ 0.02 $ 0.09 Fiscal Year 2015 Revenue $ 96,556 $ 102,431 $ 109,058 $ 112,564 $ 420,609 Gross profit 47,419 46,714 52,496 56,961 203,590 Income (loss) from continuing operations (9,963 ) (11,176 ) 1,756 13,841 (5,542 ) Income (loss) from discontinued operations (1) 3,657 3,639 6,271 40,564 54,131 Per share data (2) Income (loss) from continuing operations, basic $ (0.21 ) $ (0.22 ) $ 0.03 $ 0.26 $ (0.11 ) Income (loss) from discontinued operations, basic $ 0.08 $ 0.07 $ 0.12 $ 0.76 $ 1.06 Per share data (2) (3) Income (loss) from continuing operations, diluted $ (0.21 ) $ (0.22 ) $ 0.03 $ 0.08 $ (0.11 ) Income (loss) from discontinued operations, diluted $ 0.08 $ 0.07 $ 0.11 $ 0.74 $ 1.06 ____________ (1) During the fourth quarter of fiscal year 2015 we divested our Automotive business. (2) Earnings per share calculations for each of the quarters are based on the weighted average number of shares outstanding and included common stock equivalents in each period. Therefore, the sums of the quarters do not necessarily equal the full year earnings per share. (3) Diluted income (loss) per shares for the fiscal third quarter 2016 and 2015, and fiscal fourth quarter 2015, exclude $15.3 million , $0.5 million and $9.7 million , respectively, related to warrant liability gain. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS On May 26, 2016, we entered into a Purchase and Sale Agreement (the "Purchase Agreement") for the sale and subsequent leaseback of our corporate headquarter facility located in Lowell, Massachusetts, in the amount of $ 4.25 million plus a construction allowance of $ 4.0 million for improvements. On November XX, 2016, we finalized these agreements covering a 20 year lease period that we expect will be accounted for as a 'failed' sale leaseback which will require us to depreciate the existing building over a 20 year period, as well as, capitalize and depreciate any new facilities as we expect to be the deemed 'accounting owner' during construction, in addition to recording the related finance costs as debt on our balance sheet. |
Summary of Significant Accoun34
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Principles of Consolidation, Basis of Presentation and Reclassification | Principles of Consolidation, Basis of Presentation and Reclassification —We have one reportable segment, semiconductors and modules. The accompanying consolidated financial statements include our accounts and the accounts of our majority-owned subsidiaries. Certain prior period financial statement amounts, including debt issuance costs, have been adjusted to conform to currently reported presentations. All intercompany balances and transactions have been eliminated in consolidation. We have a 52 or 53-week fiscal year ending on the Friday closest to the last day of September. The fiscal years 2016 and 2015 included 52 weeks and fiscal year 2014 included 53 weeks. To offset the effect of holidays, for fiscal years in which there are 53 weeks, we include the extra week arising in our fiscal years in the first quarter. |
Use of Estimates | Use of Estimates —The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities during the reporting periods, the reported amounts of revenue and expenses during the reporting periods and the disclosure of contingent assets and liabilities at the date of the financial statements. On an ongoing basis, we base estimates and assumptions on historical experience, currently available information and various other factors that management believes to be reasonable under the circumstances. Actual results may differ from these estimates and assumptions. |
Discontinued Operations | Discontinued Operations— In the fourth quarter of fiscal year 2015, we divested our Automotive business. In the second quarter of fiscal year 2014, we sold assets of the non-core wireless business of Mindspeed. The operating results of these businesses are reflected in discontinued operations. |
Foreign Currency Translation and Remeasurement | Foreign Currency Translation and Remeasurement —Our consolidated financial statements are presented in U.S. dollars. While the majority of our foreign operations use the U.S. dollar as the functional currency, the financial statements of our foreign operations for which the functional currency is not the U.S. dollar are translated into U.S. dollars at the exchange rates in effect at the balance sheet dates (for assets and liabilities) and at average exchange rates (for revenue and expenses). The unrealized translation gains and losses on the net investment in these foreign operations are accumulated as a component of other comprehensive income (loss). The financial statements of our foreign operations where the functional currency is the U.S. dollar, but where the underlying transactions are transacted in a different currency, are remeasured at the exchange rate in effect at the balance sheet date with respect to monetary assets and liabilities. Nonmonetary assets and liabilities, such as inventories and property and equipment and related statements of operations accounts, such as cost of revenue and depreciation, are remeasured at historical exchange rates. Revenue and expenses, other than cost of revenue, amortization and depreciation, are translated at the average exchange rate for the period in which the transaction occurred. The net gains and losses on foreign currency remeasurement are reflected in selling, general and administrative expense in the accompanying consolidated statements of operations. Net foreign exchange transaction gains and losses for all periods presented were immaterial. |
Cash and Cash Equivalents | Cash and Cash Equivalents —Cash equivalents are primarily composed of short-term, highly-liquid instruments with an original maturity of three months or less and consists primarily of money market funds and commercial paper. |
Investments | Investments —We classify our investments as available-for-sale. Our investments classified as available-for-sale are recorded at fair value based upon third party pricing at period end. Unrealized gains and losses that are deemed temporary in nature are recorded in accumulated other comprehensive income and loss as a separate component of stockholders’ equity. A decline in the fair value of any security below cost that is deemed other than temporary results in a charge to earnings and the corresponding establishment of a new cost basis for the security. Premiums and discounts are amortized (accreted) over the life of the related security as an adjustment to its yield. Dividend and interest income are recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of investments sold. |
Inventories | Inventories —Inventories are stated at the lower of cost or market. We use a combination of standard cost and moving weighted-average cost methodologies to determine the cost basis for our inventories, approximating a first-in, first-out basis. The standard cost of finished goods and work-in-process inventory is composed of material, labor and manufacturing overhead, which approximates actual cost. In addition to stating inventory at the lower of cost or market, we also evaluate inventory each reporting period for excess quantities and obsolescence, establishing reserves when necessary based upon historical experience, assessment of economic conditions and expected demand. Once recorded, these reserves are considered permanent adjustments to the carrying value of inventory. |
Property and Equipment | Property and Equipment —Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to expense as incurred, whereas major improvements that significantly extend the useful life of the assets are capitalized as additions to property and equipment. Property and equipment are depreciated or amortized using the straight-line method over the following estimated useful lives: Asset Classification Estimated Useful Life In Years Buildings and improvements 40 Machinery and equipment 2 – 7 Computer equipment and software 2 – 5 Furniture and fixtures 7 – 10 Leasehold improvements Shorter of useful life or term of lease |
Goodwill and Indefinite-lived Intangible Assets | Goodwill and Indefinite-lived Intangible Assets —We have goodwill and certain intangible assets with indefinite-lives which are not subject to amortization; these are reviewed for impairment annually as of August 31st and more frequently if events or changes in circumstances indicate that the assets may be impaired. For our assessment of goodwill impairment we compare the carrying value of the reporting unit to the fair value of the Company. For our assessment of in-service indefinite-lived assets we compare the carrying value of the asset to the estimated fair value of the asset. For indefinite-lived assets not in service, such as in-process research and development, we performed a qualitative assessment using an assumption of ‘more likely than not’ to determine if there were any impairment indicators. If impairment exists, a loss would be recorded to write down the value of the assets to their implied fair values. There have been no impairments of goodwill or indefinite-lived intangible assets in any period presented through September 30, 2016 . |
Other Intangible Assets | Other Intangible Assets —Our other intangible assets, including acquired technology and customer relationships, are definite-lived assets and are subject to amortization. We amortize definite-lived assets over their estimated useful lives, which range from five to ten years, generally based on the pattern over which we expect to receive the economic benefit from these assets. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets —Long-lived assets include property and equipment and definite-lived intangible assets subject to amortization. We evaluate long-lived assets for recoverability when events or changes in circumstances indicate that their carrying amounts may not be recoverable. Circumstances which could trigger a review include, but are not limited to, significant decreases in the market price of the asset or asset group, significant adverse changes in the business climate or legal factors, the accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset, current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset and a current expectation that the asset will more likely than not, be sold or disposed of significantly before the end of its previously estimated useful life. In evaluating a long-lived asset for recoverability, we estimate the undiscounted cash flows expected to result from our use and eventual disposition of the asset. If the sum of the expected undiscounted cash flows is less than the carrying amount of the asset, an impairment loss, equal to the excess of the carrying amount over the fair value of the asset, is recognized. In fiscal year 2016 we recorded impairment charges related to our strategic decision to exit a product line and end programs associated with our GaN-on Silicon Carbide license and technology transfer. There were no impairments of long-lived assets in any prior periods presented. Intangible assets related to in-process research and development acquired are not amortized until the underlying asset begins revenue generating activity, at which time it is amortized over its estimated useful life. Intangibles related to abandoned in-process research and development projects are expensed in the period the project is abandoned. There were no significant expenses related to abandoned in-process research and development projects in any prior period presented. |
Revenue Recognition | Revenue Recognition —We recognize revenue when: (i) persuasive evidence of an arrangement exists; (ii) delivery or services have been rendered; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. We recognize revenue with the transfer of title and risk of loss and provide for reserves for returns and other allowances. We generally do not provide customers other than distributors the right to return product, with the exception of warranty related matters. Shipping and handling fees billed to customers are recorded as revenue while the related costs are classified as a component cost of revenue. We provide warranties for certain products and accrue the costs of warranty claims in the period the related revenue is recorded. Prior to fiscal year 2015, we had concluded that we had insufficient information as well as limited experience in estimating the effect of the right of distributors to return product and price protection and, accordingly, used the sell through approach of revenue recognition. Under this approach, we would recognize revenue from sales after the distributor resold the product to its end customer (the sell through basis). After concluding an extensive three year study of distributor related transactions, we completed an evaluation of our revenue recognition policy and concluded that it was appropriate to recognize revenue to distributors at the time of shipment to the distributor (sell-in basis). During fiscal year 2015, we concluded that we had sufficient data to predict future price adjustments from distributors and had a basis of being able to reasonably estimate these future price adjustments. Accordingly, on a consolidated basis, revenue from distribution customers was impacted by a change in estimate. Revenues from distributors accounted for approximately 10-15% of total consolidated revenue at that time. The terms of certain agreements with distribution customers provide for rights of return and compensation credits until such time as our products are sold by the distributors to their end customers. We have agreements with some distribution customers for various programs, including compensation, volume-based pricing, obsolete inventory, new products and stock rotation. Sales to these distribution customers, as well as the existence of compensation programs, are in accordance with terms set forth in written agreements with these distribution customers. In general, credits allowed under these programs are capped based upon individual distributor agreements. We record charges associated with these programs as a reduction of revenue at the time of sale with a corresponding adjustment to accounts receivable based upon historical activity. Our policy is to use a 12 month rolling historical experience rate and an estimated general reserve percentage in order to estimate the necessary allowance to be recorded. During fiscal year ended October 2, 2015, we recorded corresponding adjustments related to this change in estimate to recognize previously deferred revenues. The full year impact of this change in estimate resulted in additional revenue of $17.4 million and a net income of $7.7 million , or $0.15 earnings per share during fiscal year 2015. We also established a new reserve of $6.0 million for the fiscal year ended October 2, 2015 related to future rebates and returns under various programs associated with our distributor agreements. |
Research and Development Costs | Research and Development Costs —Costs incurred in the research and development of products are expensed as incurred. |
Income Taxes | Income Taxes —Deferred tax assets and liabilities are recognized based on temporary differences between the financial reporting and income tax bases of assets and liabilities, using rates anticipated to be in effect when such temporary differences reverse. A valuation allowance against net deferred tax assets is required if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. We provide reserves for potential payments of tax to various tax authorities related to uncertain tax positions and other issues. Reserves are based on a determination of whether and how much of a tax benefit is taken by us in our tax filings or positions and that are more likely than not to be realized following an examination by taxing authorities. We recognize the financial statement benefit of an uncertain tax position only after considering the probability that a tax authority would sustain the position in an examination. For tax positions meeting a “more-likely-than-not” threshold, the amount recognized in the financial statements is the benefit expected to be realized upon settlement with the tax authority. For tax positions not meeting the threshold, no financial statement benefit is recognized. Potential interest and penalties associated with such uncertain tax positions are recorded as a component of income tax expense. |
Earnings Per Share | Earnings Per Share —Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period, excluding the dilutive effect of common stock equivalents. Diluted net income (loss) per share reflects the dilutive effect of common stock equivalents, such as stock options, warrants and restricted stock units, using the treasury stock method. |
Fair Value Measurements | Fair Value Measurements —Financial assets and liabilities are measured at fair value. Fair value is an exit price, representing the amount that would be received from the sale of an asset or paid to transfer a liability at the measurement date under current market conditions in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, we group financial assets and liabilities in a three-tier fair value hierarchy, according to the inputs used in measuring fair value as follows: Level 1—observable inputs such as quoted prices in active markets for identical assets and liabilities; Level 2—inputs other than quoted prices in active markets that are observable either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical assets and liabilities in markets that are not active and model-based valuation techniques for which significant assumptions are observable in active markets; and, Level 3—unobservable inputs for which there is little or no market data, requiring us to develop our own assumptions for model-based valuation techniques. This hierarchy requires us to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value due to the short-term nature of these assets and liabilities. |
Contingent Consideration | Contingent Consideration —We estimate and record at the acquisition date, the fair value of contingent consideration making up part of the purchase price consideration for acquisitions. Additionally, at each reporting period, we estimate the change in the fair value of contingent consideration and any change in fair value is recognized in the consolidated statements of operations. We estimate the fair value of contingent consideration by discounting the associated expected cash flows, using a probability-weighted, discounted cash flow model. The estimate of the fair value of contingent consideration requires subjective assumptions to be made regarding future operating results, discount rates and probabilities assigned to various potential operating result scenarios. |
Share-Based Compensation | Share-Based Compensation —We account for all share-based compensation arrangements using the fair value method. We recognize compensation expense over the requisite service period of the award, which is generally the vesting period, using the straight-line method and providing that the minimum amount of compensation recorded is equal to the vested portion of the award. We record the expense in the consolidated statements of operations in the same manner in which the award recipients’ salary costs are classified. We use the Black-Scholes option-pricing model to estimate the fair value of stock options with service and performance conditions, inclusive of assumptions for risk-free interest rates, dividends, expected terms and estimated volatility. We derive the risk-free interest rate assumption from the U.S. Treasury’s rates for U.S. Treasury zero-coupon bonds with maturities similar to the expected term of the award being valued. We base the assumed dividend yield on its expectation of not paying dividends in the foreseeable future. We calculate the weighted-average expected term of the options using the simplified method, which is a method of applying a formula that uses the vesting term and the contractual term to compute the expected term of a stock option. The decision to use the simplified method is based on a lack of relevant historical data, due to our limited operating experience. In addition, due to our limited historical data, we incorporate the historical volatility of comparable companies with publicly available share prices to determine estimated volatility. The accounting for stock options requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. |
Guarantees and Indemnification Obligations | Guarantees and Indemnification Obligations —We enter into agreements in the ordinary course of business with, among others, customers, distributors and original equipment manufacturers (OEM). Most of these agreements require us to indemnify the other party against third-party claims alleging that a Company product infringes a patent and/or copyright. Certain agreements in which we grant limited licenses to specific Company trademarks require us to indemnify the other party against third-party claims alleging that the use of the licensed trademark infringes a third-party trademark. Certain of these agreements require us to indemnify the other party against certain claims relating to property damage, personal injury or the acts or omissions, its employees, agents or representatives. In addition, from time to time, we have made certain guarantees in the form of warranties regarding the performance of Company products to customers. We have agreements with certain vendors, creditors, lessors and service providers pursuant to which we have agreed to indemnify the other party for specified matters, such as acts and omissions, its employees, agents or representatives. We have procurement or license agreements with respect to technology that are used in our products and agreements in which we obtain rights to a product from an OEM. Under some of these agreements, we have agreed to indemnify the supplier for certain claims that may be brought against such party with respect to our acts or omissions relating to the supplied products or technologies. Our certificate of incorporation and agreements with certain of our directors and officers and certain of our subsidiaries’ directors and officers provide them indemnification rights, to the extent legally permissible, against liabilities incurred by them in connection with legal actions in which they may become involved by reason of their service as a director or officer. As a matter of practice, we have maintained director and officer liability insurance coverage, including coverage for directors and officers of acquired companies. We have not experienced any losses related to these indemnification obligations in any period presented and no claims with respect thereto were outstanding as of September 30, 2016 and October 2, 2015 . We do not expect significant claims related to these indemnification obligations and, consequently, have concluded that the fair value of these obligations is negligible. No liabilities related to indemnification liabilities have been established. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements —In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers . ASU 2014-09 requires revenue recognition to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 sets forth a new revenue recognition model that requires identifying the contract, identifying the performance obligations, determining the transaction price, allocating the transaction price to performance obligations and recognizing the revenue upon satisfaction of performance obligations. The amendments in ASU 2014-09 can be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the update recognized at the date of the initial application along with additional disclosures. On July 9, 2015, the FASB voted to defer the effective date by one year to interim and annual reporting periods beginning after December 15, 2017, and permitted early adoption of the standard, but not for periods beginning on or before the original effective date of December 15, 2016. We have not yet selected a transition method and are currently evaluating the impact of ASU 2014-09. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs . To simplify presentation of debt issuance costs, ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015, and early adoption is permitted. We have retroactively adopted this guidance for our fiscal year ended October 2, 2015, and as a result we reclassified the debt issuance costs associated with our Term Loans as a direct reduction of the recognized debt liabilities in our accompanying consolidated balance sheet. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, which eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. Acquirers would now recognize measurement-period adjustments during the period in which they determine the amount of the adjustment. This ASU is effective for annual and interim reporting periods beginning after December 15, 2015, including interim periods within those fiscal years, and should be applied prospectively to adjustments for provisional amounts that occur after the effective date with early adoption permitted for financial statements that have not been issued. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes . This update simplifies the presentation of deferred income taxes by eliminating the current requirements to classify deferred income tax assets and liabilities between current and noncurrent. The amendments in this update require that deferred tax assets and liabilities be classified as noncurrent in a classified statement of financial position. For public business entities, the standard is effective in the annual reporting periods beginning after December 15, 2016. Early adoption is permitted as of the beginning of any interim or annual reporting period and can be applied either prospectively or retrospectively to all periods presented. We have elected to adopt this standard early and have implemented the change prospectively as of the second quarter of fiscal 2016; prior periods were not adjusted. Upon adoption in the second quarter of fiscal 2016, we included our current deferred income tax assets with our noncurrent deferred income tax assets; no adjustments were made to deferred tax liabilities. Refer to Note 16 to the Consolidated Financial Statements for additional information. In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Liabilities . This update makes amendments to the guidance in U.S. GAAP on the classification and measurement of financial instruments. The new standard significantly revises an entity's accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU 2016-02, Leases , which increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Certain qualitative and quantitative disclosures are required, as well as a retrospective recognition and measurement of impacted leases. The new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. Early adoption is permitted and the updated standard must be adopted no later than our fiscal first quarter of fiscal 2018. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments . This update amends the guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For available for sale debt securities, credit losses should be measured in a manner similar to current GAAP; however, this update will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments . This Update addresses debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions and separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. In October 2016, the FASB issued ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory . This update amends the guidance on recognizing the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Consequently, the amendment eliminates the exception for an intra entity transfer of an asset other than inventory. ASU 2016-16 is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. We are evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. |
Summary of Significant Accoun35
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Schedule of Estimated Useful Life | Property and equipment are depreciated or amortized using the straight-line method over the following estimated useful lives: Asset Classification Estimated Useful Life In Years Buildings and improvements 40 Machinery and equipment 2 – 7 Computer equipment and software 2 – 5 Furniture and fixtures 7 – 10 Leasehold improvements Shorter of useful life or term of lease |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Business Combinations [Abstract] | |
Allocation of Purchase Price | The adjusted preliminary allocation of purchase price as of September 30, 2016 , is as follows (in thousands): Preliminary Allocation Allocation Adjustments Adjusted Allocation Current assets $ 15,250 $ (2,636 ) $ 12,614 Intangible assets 19,700 1,200 20,900 Other assets 6,249 (3,160 ) 3,089 Total assets acquired 41,199 (4,596 ) 36,603 Liabilities assumed: Other liabilities 7,401 (200 ) 7,201 Total liabilities assumed 7,401 (200 ) 7,201 Net assets acquired 33,798 (4,396 ) 29,402 Consideration: Cash paid upon closing, net of cash acquired 38,000 (875 ) 37,125 Goodwill $ 4,202 $ 3,521 $ 7,723 The adjusted preliminary allocation of purchase price as of September 30, 2016 , is as follows (in thousands): Preliminary Allocation Allocation Adjustments Adjusted Allocation Current assets $ 10,850 $ (405 ) $ 10,445 Intangible assets 45,650 — 45,650 Other assets 3,334 (17 ) 3,317 Total assets acquired 59,834 (422 ) 59,412 Liabilities assumed: Debt 11,627 — 11,627 Deferred income taxes 12,932 (1,274 ) 11,658 Other liabilities 3,968 — 3,968 Total liabilities assumed 28,527 (1,274 ) 27,253 Net assets acquired 31,307 852 32,159 Consideration: Cash paid upon closing, net of cash acquired 47,517 — 47,517 Goodwill $ 16,210 $ (852 ) $ 15,358 We finalized our allocation of purchase price during the first quarter of fiscal year 2016. The final allocation of purchase price as of January 1, 2016, was as follows (in thousands): October 2, 2015 Allocation Allocation Adjustments January 1, 2016 Adjusted Allocation Current assets $ 23,674 $ (1,100 ) $ 22,574 Intangible assets 136,900 400 137,300 Other assets 9,194 — 9,194 Total assets acquired 169,768 (700 ) 169,068 Liabilities assumed: Debt 2,535 — 2,535 Deferred income taxes 33,345 99 33,444 Other liabilities 13,106 — 13,106 Total liabilities assumed 48,986 99 49,085 Net assets acquired 120,782 (799 ) 119,983 Consideration: Cash paid upon closing, net of cash acquired 208,352 — 208,352 Goodwill $ 87,570 $ 799 $ 88,369 |
Components of Acquired Intangible Assets on a Preliminary Basis | The components of the acquired intangible assets on a preliminary basis were as follows (in thousands): Amount Useful Lives (Years) Developed technology $ 9,400 7 Customer relationships 36,250 10 $ 45,650 The components of the acquired intangible assets were as follows (in thousands): Amount Useful Lives (Years) Developed technology $ 17,500 7 Customer relationships 119,800 10 $ 137,300 The components of the acquired intangible assets on a preliminary basis were as follows (in thousands): Amount Useful Lives (Years) Developed technology $ 1,000 7 Customer relationships 19,900 10 $ 20,900 |
Summary of Unaudited Supplemental Pro Forma Data | This pro forma data is presented for informational purposes only and does not purport to be indicative of our future results of operations. Fiscal Year Ended October 2, 2015 October 3, 2014 Revenue $ 428,440 $ 384,452 Net income (loss) from continuing operations (3,489 ) (98,119 ) This pro forma data is presented for informational purposes only and does not purport to be indicative of our future results of operations. Fiscal Year Ended September 30, 2016 October 2, 2015 Revenue $ 551,964 $ 444,991 Net income (loss) (3,324 ) 36,715 The following is a summary of Metelics revenue and earnings included in our accompanying consolidated statements of operations for the fiscal year ended September 30, 2016 (in thousands): Amount Revenue $ 33,552 Income before income taxes 3,372 The following is a summary of BinOptics revenue and earnings included in our consolidated statements of operations for the fiscal year ended October 2, 2015 (in thousands): Fiscal Year Ended October 2, 2015 Revenue $ 61,549 Income before income taxes 354 This pro forma data is presented for informational purposes only and does not purport to be indicative of our future results of operations. Fiscal Year Ended September 30, 2016 October 2, 2015 Revenue $ 553,174 $ 459,048 Net income (loss) 1,183 45,107 The following is a summary of FiBest revenue and earnings included in our accompanying consolidated statements of operations for the fiscal year ended September 30, 2016 (in thousands): Amount Revenue $ 30,540 Loss before income taxes (4,616 ) |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Available for Sale Investments | The amortized cost, gross unrealized holding gains or losses, and fair value of our available-for-sale investments by major investments type as of September 30, 2016 and October 2, 2015 are summarized in the tables below (in thousands): September 30, 2016 Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Aggregate Fair Value Corporate bonds $ 14,894 $ 9 $ (103 ) $ 14,800 Commercial paper 2,978 — (4 ) 2,974 US treasuries and agency bonds 6,004 1 (3 ) 6,002 Total investments $ 23,876 $ 10 $ (110 ) $ 23,776 October 2, 2015 Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Aggregate Fair Value Corporate bonds $ 24,546 $ 5 $ (89 ) $ 24,462 US treasuries and agency bonds 15,108 3 (16 ) 15,095 Total investments $ 39,654 $ 8 $ (105 ) $ 39,557 |
Summary of Contractual Maturities of Investments | The contractual maturities of available-for-sale investments were as follows (in thousands): September 30, 2016 Less than 1 year $ 8,976 Over 1 year 14,800 Total investments $ 23,776 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis consist of the following (in thousands): September 30, 2016 Fair Value Active Markets for Identical Assets (Level 1) Observable Inputs (Level 2) Unobservable Inputs (Level 3) Assets Money market funds $ 1,172 $ 1,172 $ — $ — Commercial paper 102,928 — 102,928 — US treasuries and agency bonds 6,002 — 6,002 — Corporate bonds 14,799 — 14,799 — Total assets measured at fair value $ 124,901 $ 1,172 $ 123,729 $ — Liabilities Contingent consideration $ 848 $ — $ — $ 848 Common stock warrant liability 38,253 — — 38,253 Total liabilities measured at fair value $ 39,101 $ — $ — $ 39,101 October 2, 2015 Fair Value Active Markets for Identical Assets (Level 1) Observable Inputs (Level 2) Unobservable Inputs (Level 3) Assets Money market funds $ 15,000 $ 15,000 $ — $ — US treasuries and agency bonds 15,095 — 15,095 — Corporate bonds 24,462 — 24,462 — Total assets measured at fair value $ 54,557 $ 15,000 $ 39,557 $ — Liabilities Contingent consideration $ 1,150 $ — $ — $ 1,150 Warrant liability 21,822 — — 21,822 Total liabilities measured at fair value $ 22,972 $ — $ — $ 22,972 |
Quantitative Information Used in Fair Value Calculation of Level 3 Liabilities | The quantitative information utilized in the fair value calculation of our Level 3 liabilities are as follows: Inputs Liabilities Valuation Technique Unobservable Input September 30, 2016 October 2, 2015 Contingent consideration Discounted cash flow Discount rate 12.9% 16.0% Probability of achievement 75% - 100% 75% - 90% Timing of cash flows 1 year 2 years Warrant liability Black-scholes model Volatility 43.2% 36.0% Discount rate 1.14% 1.30% Expected life 4.2 years 5.2 years Exercise price $14.05 $14.05 |
Changes in Assets with Inputs Classified within Level 3 of Fair Value | The changes in assets and liabilities with inputs classified within Level 3 of the fair value hierarchy consist of the following (in thousands): Fiscal Year 2016 October 2, Net Realized/Unrealized Losses (Gains) Included in Earnings Purchases and Issuances Sales and Settlements Transfers in and/or (out) of Level 3 September 30, Contingent consideration $ 1,150 $ 98 $ — $ (400 ) $ — $ 848 Warrant liability $ 21,822 $ 16,431 $ — $ — $ — $ 38,253 Fiscal Year 2015 October 3, Net Realized/Unrealized Losses (Gains) Included in Earnings Purchases and Issuances Sales and Settlements Transfers in and/or (out) of Level 3 October 2, Trading securities $ 250 $ — $ 500 $ (750 ) $ — $ — Contingent consideration $ 820 $ 330 $ — $ — $ — $ 1,150 Warrant liability $ 15,801 $ 6,021 $ — $ — $ — $ 21,822 Fiscal Year 2014 September 27, Net Realized/Unrealized Losses (Gains) Included in Earnings Purchases and Issuances Sales and Settlements Transfers in and/or (out) of Level 3 October 3, Trading securities $ — $ — $ 250 $ — $ — $ 250 Contingent consideration $ — $ — $ 820 $ — $ — $ 820 Warrant liability $ 11,873 $ 3,928 $ — $ — $ — $ 15,801 |
Changes in Liabilities with Inputs Classified within Level 3 of Fair Value | The changes in assets and liabilities with inputs classified within Level 3 of the fair value hierarchy consist of the following (in thousands): Fiscal Year 2016 October 2, Net Realized/Unrealized Losses (Gains) Included in Earnings Purchases and Issuances Sales and Settlements Transfers in and/or (out) of Level 3 September 30, Contingent consideration $ 1,150 $ 98 $ — $ (400 ) $ — $ 848 Warrant liability $ 21,822 $ 16,431 $ — $ — $ — $ 38,253 Fiscal Year 2015 October 3, Net Realized/Unrealized Losses (Gains) Included in Earnings Purchases and Issuances Sales and Settlements Transfers in and/or (out) of Level 3 October 2, Trading securities $ 250 $ — $ 500 $ (750 ) $ — $ — Contingent consideration $ 820 $ 330 $ — $ — $ — $ 1,150 Warrant liability $ 15,801 $ 6,021 $ — $ — $ — $ 21,822 Fiscal Year 2014 September 27, Net Realized/Unrealized Losses (Gains) Included in Earnings Purchases and Issuances Sales and Settlements Transfers in and/or (out) of Level 3 October 3, Trading securities $ — $ — $ 250 $ — $ — $ 250 Contingent consideration $ — $ — $ 820 $ — $ — $ 820 Warrant liability $ 11,873 $ 3,928 $ — $ — $ — $ 15,801 |
Accounts Receivables Allowanc39
Accounts Receivables Allowances (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Rollforward of Accounts Receivable Allowances | Summarized below is the activity in our accounts receivable allowances including customer returns, doubtful accounts and other items as follows (in thousands): Fiscal Year 2016 2015 2014 Balance - beginning of year $ 5,745 $ 725 $ 514 Provision (recoveries), net 10,453 11,010 250 Charge-offs (12,919 ) (5,990 ) (39 ) Balance - end of year 3,279 5,745 725 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Inventory Disclosure [Abstract] | |
Components of Inventories | Inventories consist of the following (in thousands): September 30, 2016 October 2, 2015 Raw materials $ 67,378 $ 44,329 Work-in-process 9,157 3,086 Finished goods 38,400 32,528 Total $ 114,935 $ 79,943 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Property, Plant and Equipment [Abstract] | |
Components of Property, Plant and Equipment | Property, plant and equipment consist of the following (in thousands): September 30, October 2, Land, buildings and improvements $ 12,572 $ 10,981 Construction in process 9,415 25,898 Machinery and equipment 129,639 89,852 Leasehold improvements 12,152 9,161 Furniture and fixtures 1,469 983 Computer equipment and software 12,954 9,307 Total property and equipment 178,201 146,182 Less accumulated depreciation and amortization (79,034 ) (62,423 ) Property and equipment — net $ 99,167 $ 83,759 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of Remained Outstanding on Term Loans | As of September 30, 2016 , the following remained outstanding on the Term Loans: Principal balance $ 591,487 Unamortized discount (4,051 ) Total Term loans 587,436 Current portion 6,051 Long-term, less current portion $ 581,385 |
Schedule of Minimum Principal Payments under Term Loans | As of September 30, 2016 , the minimum principal payments under the Term Loans in future fiscal years were as follows (in thousands): 2017 $ 6,051 2018 6,051 2019 6,051 2020 6,051 2021 567,283 Total $ 591,487 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Other Liabilities Disclosure [Abstract] | |
Schedule of Accrued Liabilities | Accrued liabilities consist of the following (in thousands): September 30, October 2, Compensation and benefits $ 32,563 $ 20,711 Interest payable 4,314 3,502 Distribution costs 3,584 3,091 Restructuring costs 3,104 943 Asset retirement obligations 2,932 — Professional fees 1,706 2,167 Rent and utilities 1,310 1,458 Product warranty 1,039 656 Software licenses 90 1,223 Other 3,726 4,356 Total $ 54,368 $ 38,107 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Payments for Operating Leases | Future minimum lease payments for the next five fiscal years as of September 30, 2016 , are as follows (in thousands): 2017 $ 9,245 2018 6,715 2019 5,865 2020 3,188 2021 1,560 Thereafter 5,475 Total minimum lease payments $ 32,048 |
Restructurings (Tables)
Restructurings (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Restructuring and Related Activities [Abstract] | |
Summary of Costs Related to Restructuring Actions | The following is a summary of the costs incurred and remaining balances included in accrued expenses related to restructuring actions taken (in thousands): Total Balance - September 27, 2013 $ 145 Current period charges 14,823 Payments (14,167 ) Balance - October 3, 2014 801 Current period charges 1,280 Payments (1,138 ) Balance - October 2, 2015 943 Current period charges 3,465 Payments (1,304 ) Balance at September 30, 2016 $ 3,104 |
Product Warranties (Tables)
Product Warranties (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Guarantees [Abstract] | |
Schedule of Product Warranty Liability Activity | Product warranty liability activity is as follows (in thousands): Fiscal Years 2016 2015 2014 Balance — beginning of year $ 656 $ 446 $ 318 Impact of acquisition 413 50 202 Provisions (30 ) 160 (74 ) Balance — end of year $ 1,039 $ 656 $ 446 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Amortization Expense Related to Amortizable Intangible Assets | Amortization expense related to amortized intangible assets is as follows (in thousands): Fiscal Years 2016 2015 2014 Cost of revenue $ 26,615 $ 27,285 $ 18,787 Selling, general and administrative 23,640 11,695 1,806 Total $ 50,255 $ 38,980 $ 20,593 |
Summary of Intangible Assets | Intangible assets consist of the following (in thousands): September 30, October 2, Acquired technology $ 165,397 $ 162,536 Customer relationships 207,674 144,070 In-process research and development 8,000 8,000 Trade name 3,400 3,400 Total 384,471 318,006 Less accumulated amortization (124,869 ) (74,340 ) Intangible assets — net $ 259,602 $ 243,666 |
Summary of Activity in Intangible Assets and Goodwill | A summary of the activity in intangible assets and goodwill follows (in thousands): Total Acquired Customer In-Process Research and Development Trade Name Goodwill Balance at October 3, 2014 $ 188,777 $ 131,953 $ 24,670 $ 17,970 $ 3,400 $ 10,784 Net intangibles acquired 224,470 17,500 119,400 — — 87,570 Placed in service — 9,780 — (9,780 ) — — Adjustment to fair value (190 ) — — (190 ) — — Goodwill allocation to discontinued operations (5,008 ) — — — — (5,008 ) Other intangibles purchased 3,303 3,303 — — — — Balance at October 2, 2015 411,352 162,536 144,070 8,000 3,400 93,346 Net intangibles acquired 85,762 10,400 54,950 — — 20,412 Adjustment to fair value 16,801 1,881 8,654 — — 6,266 Impairments of intangible assets (10,088 ) (10,088 ) — — — — Other intangibles purchased 668 668 — — — — Balance at September 30, 2016 $ 504,495 $ 165,397 $ 207,674 $ 8,000 $ 3,400 $ 120,024 |
Summary of Estimated Amortization of Intangible Assets in Future Fiscal Years | As of September 30, 2016 , our estimated amortization of our intangible assets in future fiscal years, subject to the completion of the purchase price allocation for the FiBest and Metelics acquisitions, was as follows (in thousands): 2017 2018 2019 2020 2021 Thereafter Amortization expense $ 51,647 48,742 42,045 33,914 27,613 44,241 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
Components of Deferred Tax Assets and Liabilities | The components of our deferred tax assets and liabilities are as follows (in thousands): September 30, October 2, Current deferred tax assets: Accrued liabilities $ — $ 11,332 Inventory — 5,043 Deferred revenue — (3 ) Accounts receivable — 51 Federal net operating loss — 11,186 Other current deferred tax assets — — Discontinued operations — 2,703 Deferred compensation — 3,468 Valuation allowance — (2,349 ) Current net deferred tax assets $ — $ 31,431 Non-current deferred tax assets (liabilities): Federal and foreign net operating losses and credits $ 85,256 $ 70,448 Intangible assets (49,725 ) (44,196 ) Property and equipment (2,730 ) (2,977 ) Other non-current deferred tax assets 21,855 292 Discontinued operations 9,100 9,191 Deferred compensation 5,545 1,066 Deferred gain 19,011 23,531 Valuation allowance (10,471 ) (9,116 ) Non-current net deferred tax assets (liabilities) 77,841 48,239 Total deferred tax asset $ 77,841 $ 79,670 |
Summary of Domestic and Foreign Income (Loss) from Continuing Operations Before Taxes | The domestic and foreign income (loss) from continuing operations before taxes were as follows (in thousands): Fiscal Years 2016 2015 2014 United States $ (46,593 ) $ (34,251 ) $ (60,836 ) Foreign 25,022 18,851 19,936 (Loss) income from operations before income taxes $ (21,571 ) $ (15,400 ) $ (40,900 ) |
Components of Provision (Benefit) for Income Taxes | The components of the provision (benefit) for income taxes are as follows (in thousands): Fiscal Years 2016 2015 2014 Current: Federal $ (5,861 ) $ (19,015 ) $ 712 State (766 ) 688 (419 ) Foreign 906 1,092 2,181 Current provision (benefit) (5,721 ) (17,235 ) 2,474 Deferred: Federal (8,163 ) 10,845 (16,557 ) State (502 ) (4,131 ) (756 ) Foreign (2,603 ) (1,302 ) (725 ) Change in valuation allowance (994 ) 1,965 (522 ) Deferred provision (benefit) (12,262 ) 7,377 (18,560 ) Total provision (benefit) $ (17,983 ) $ (9,858 ) $ (16,086 ) |
Reconciliation of Effective Tax Rates | Our effective tax rates differ from the federal and statutory rate as follows: Fiscal Years 2016 2015 2014 Federal statutory rate 35.0 % 35.0 % 35.0 % Foreign rate differential 40.1 30.5 11.2 State taxes net of federal benefit 1.0 3.5 1.8 Warrant liabilities (26.7 ) (13.7 ) (3.4 ) Change in valuation allowance 3.0 (6.0 ) (0.3 ) Research and development credits 16.9 16.1 1.9 Correction of prior period 18.3 — — Provision to return adjustments 3.5 9.9 — Nondeductible compensation expense (9.2 ) (8.9 ) (1.5 ) Nondeductible legal fees (1.8 ) (4.1 ) (1.9 ) Nitronex losses — — (2.6 ) Other permanent differences 3.3 1.6 (0.8 ) Effective income tax rate 83.4 % 63.9 % 39.4 % |
Activity Related to Unrecognized Tax Benefits | Activity related to unrecognized tax benefits is as follows (in thousands): Amount Balance - October 3, 2014 (1,670 ) Additions based on tax positions — Reductions based on tax positions — Balance - October 2, 2015 $ (1,670 ) Additions based on tax positions — Reductions based on tax positions — Balance at September 30, 2016 $ (1,670 ) |
Summary of Fiscal Tax Years Examination by Jurisdictions | A summary of the fiscal tax years that remain subject to examination, as of September 30, 2016 , for the Company’s significant tax jurisdictions are: Jurisdiction Tax Years Subject to Examination United States—federal 2013 - forward United States—various states 2013 - forward Ireland 2012 - forward |
Share - Based Compensation Pl49
Share - Based Compensation Plans (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Effects of Stock-Based Compensation Expense Related to Stock-Based Awards to Employees and Nonemployees | The following table shows a summary of share-based compensation expense included in the Consolidated Statement of Operations during the periods presented (in thousands): Fiscal Years 2016 2015 2014 Cost of revenue $ 2,150 $ 1,949 $ 1,771 Research and development 6,568 5,447 2,818 Selling, general and administrative 18,236 12,039 6,688 Total $ 26,954 $ 19,435 $ 11,277 |
Summary of Stock Option Activity | A summary of stock option activity for fiscal year 2016 is as follows (in thousands, except per share amounts): Number of Shares Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Options outstanding - October 2, 2015 889 $ 18.40 Granted 305 32.22 Exercised (130 ) 9.61 Forfeited, canceled or expired (16 ) 40.04 Options outstanding - September 30, 2016 1,048 $ 23.18 5.79 20,073 Options vested and expected to vest - September 30, 2016 1,048 $ 23.18 5.79 20,073 Options exercisable - September 30, 2016 508 $ 12.91 5.68 14,939 |
Weighted Average Assumptions used for Calculating Fair Value of Stock Options Granted | The weighted average Monte Carlo input assumptions used for calculating the fair value of stock options are as follows: Fiscal Years 2016 2015 2014 Risk-free interest rate 2.1 % 1.9 % 2.7 % Expected term (years) 7 7 10 Expected volatility 36.5 % 37.4 % 42.6 % The weighted average Black-Scholes input assumptions used for calculating the fair value of stock options are as follows: Fiscal Years 2016 2015 2014 Risk-free interest rate 1.2 % 1.2 % — % Expected term (years) 4.0 4 0 Expected volatility 31.8 % 36.2 % — % Expected dividends — % — % — % |
Summary of Restricted Stock Awards and Unit Activity | A summary of restricted stock awards and units activity for fiscal year 2016 is as follows (in thousands): Number of Shares Weighted-Average Grant Date Fair Value Aggregate Intrinsic Value Issued and unvested - October 2, 2015 1,692 $ 25.30 $ 48,375 Granted 864 39.73 Vested (750 ) 23.88 Forfeited, canceled or expired (98 ) 33.36 Issued and unvested shares - September 30, 2016 1,708 32.76 $ 72,165 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Summary of Operating Results Related to Divested Businesses | The accompanying consolidated statement of operations includes the following operating results related to these divested businesses (in thousands): Automotive Business Mindspeed Wireless Business Fiscal Years Fiscal Years 2016 2015 2014 2016 2015 2014 Revenue $ — $ 71,712 $ 79,473 $ — $ — $ 2,439 Cost of revenue — 46,931 51,425 — — 1,249 Gross profit — 24,781 28,048 — — 1,190 Operating expenses: Research and development — 2,319 2,334 — — 4,531 Selling, general and administrative — 2,441 3,586 — — 1,078 Restructuring charges — — — — — 2,962 Total operating expenses — 4,760 5,920 — — 8,571 Income from discontinued operations — 20,021 22,128 — — (7,381 ) Other income 7,500 4,000 — — — — Gain on sale 308 61,771 — — 1,550 — Income (loss) before income taxes 7,808 85,792 22,128 — 1,550 (7,381 ) Income tax provision (benefit) 2,786 32,652 8,032 — 559 (2,776 ) Income (loss) from discontinued operations $ 5,022 $ 53,140 $ 14,096 $ — $ 991 $ (4,605 ) Above includes depreciation & amortization of $ — $ 189 $ 302 $ — $ — $ — Cashflow from Operating Activities $ — $ (9,513 ) $ 16,945 $ — $ 991 $ (4,605 ) Cashflow from Investing Activities $ 7,500 $ (505 ) $ (275 ) $ — $ — $ — |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Computation for Basic and Diluted Net Income (Loss) Per Share of Common Stock | The following table set forth the computation for basic and diluted net income (loss) per share of common stock (in thousands, except per share data): Fiscal Years 2016 2015 2014 Numerator: Income (loss) from continuing operations $ (3,588 ) $ (5,542 ) $ (24,814 ) Income (loss) from discontinued operations 5,022 54,131 9,491 Net income (loss) 1,434 48,589 (15,323 ) Warrant liability gain — — — Net income (loss) attributable to common stockholders $ 1,434 $ 48,589 $ (15,323 ) Denominator: Weighted average common shares outstanding-basic 53,364 51,146 47,009 Dilutive effect of options and warrants — — — Weighted average common shares outstanding-diluted 53,364 51,146 47,009 Common stock earnings per share-basic: Continuing operations $ (0.07 ) $ (0.11 ) $ (0.53 ) Discontinued operations 0.09 1.06 0.20 Net common stock earnings per share-basic $ 0.03 $ 0.95 $ (0.33 ) Common stock earnings per share-diluted: Continuing operations $ (0.07 ) $ (0.11 ) $ (0.53 ) Discontinued operations 0.09 1.06 0.20 Net common stock earnings per share-diluted $ 0.03 $ 0.95 $ (0.33 ) |
Supplemental Cash Flow Inform52
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Supplemental Cash Flow Information Regarding Noncash Investing and Financing Activities | The following is supplemental cash flow information regarding noncash investing and financing activities: Fiscal Years 2016 2015 2014 Cash paid for interest $ 16,335 $ 15,607 $ 6,994 Cash paid (refunded) for income taxes $ (373 ) $ 22,676 $ 4,668 |
Accumulated Other Comprehensi53
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Summary of Accumulated Other Comprehensive Income, Net of Income Taxes | The components of accumulated other comprehensive income (loss), net of income taxes, are as follows: Foreign currency items Other items Total Balance - October 3, 2014 $ (1,264 ) $ (90 ) $ (1,354 ) Foreign currency translation adjustment (918 ) — (918 ) Other adjustment, net of tax — 90 90 Unrealized gain/loss on short term investments — (97 ) (97 ) Balance - October 2, 2015 (2,182 ) (97 ) (2,279 ) Foreign currency translation, net of tax 11,320 — 11,320 Unrealized gain/loss on short term investments — (2 ) (2 ) Balance at September 30, 2016 $ 9,138 $ (99 ) $ 9,039 |
Geographic and Significant Cu54
Geographic and Significant Customer Information (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Summary of Different Geographic Regions | Information about our operations in different geographic regions, based upon customer locations, is presented below (in thousands): Fiscal Years Revenue by Geographic Region 2016 2015 2014 United States $ 155,998 $ 152,974 $ 134,436 Asia Pacific (1) 346,670 231,369 148,141 Other Countries (2) 41,670 36,266 56,612 Total $ 544,338 $ 420,609 $ 339,189 As of September 30, October 2, Long-Lived Assets by Geographic Region United States $ 79,832 $ 72,617 Asia Pacific (1) 16,614 8,740 Other Countries(2) 2,721 2,402 Total $ 99,167 $ 83,759 (1) Asia Pacific represents China, Taiwan, Hong Kong, Japan, Singapore, India, Thailand, Korea, Australia, Malaysia and the Philippines. (2) No international country or region represented greater than 10% of the total net long-lived assets or revenue as of the dates presented, other than the Asia-Pacific region as presented above. |
Summary of Customer Concentrations as Percentage of Total Sales and Accounts Receivable | The following is a summary of customer concentrations as a percentage of total sales and accounts receivable as of and for the periods presented: Fiscal Years Revenue 2016 2015 2014 Customer A 15 % 8 % 4 % Customer B 12 % 12 % 10 % Customer C 11 % 18 % 19 % September 30, October 2, Accounts Receivable Customer A 11 % 14 % Customer B 16 % 10 % Customer C 11 % 22 % |
Quarterly Financial Data (Una55
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Data | (In thousands, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal Year Fiscal Year 2016 Revenue $ 115,774 $ 133,579 $ 142,288 $ 152,697 $ 544,338 Gross profit 60,318 65,525 73,962 81,804 281,609 Income (loss) from continuing operations (1) (16,770 ) (12,045 ) 21,353 3,874 (3,588 ) Income (loss) from discontinued operations (1) 1,199 1,396 1,199 1,228 5,022 Per share data (2) Income (loss) from continuing operations, basic $ (0.32 ) $ (0.23 ) $ 0.40 $ 0.07 $ (0.07 ) Income (loss) from discontinued operations, basic $ 0.02 $ 0.03 $ 0.02 $ 0.02 $ 0.09 Per share data (2) Income (loss) from continuing operations, diluted $ (0.32 ) $ (0.23 ) $ 0.11 $ 0.07 $ (0.07 ) Income (loss) from discontinued operations, diluted $ 0.02 $ 0.03 $ 0.02 $ 0.02 $ 0.09 Fiscal Year 2015 Revenue $ 96,556 $ 102,431 $ 109,058 $ 112,564 $ 420,609 Gross profit 47,419 46,714 52,496 56,961 203,590 Income (loss) from continuing operations (9,963 ) (11,176 ) 1,756 13,841 (5,542 ) Income (loss) from discontinued operations (1) 3,657 3,639 6,271 40,564 54,131 Per share data (2) Income (loss) from continuing operations, basic $ (0.21 ) $ (0.22 ) $ 0.03 $ 0.26 $ (0.11 ) Income (loss) from discontinued operations, basic $ 0.08 $ 0.07 $ 0.12 $ 0.76 $ 1.06 Per share data (2) (3) Income (loss) from continuing operations, diluted $ (0.21 ) $ (0.22 ) $ 0.03 $ 0.08 $ (0.11 ) Income (loss) from discontinued operations, diluted $ 0.08 $ 0.07 $ 0.11 $ 0.74 $ 1.06 ____________ (1) During the fourth quarter of fiscal year 2015 we divested our Automotive business. (2) Earnings per share calculations for each of the quarters are based on the weighted average number of shares outstanding and included common stock equivalents in each period. Therefore, the sums of the quarters do not necessarily equal the full year earnings per share. (3) Diluted income (loss) per shares for the fiscal third quarter 2016 and 2015, and fiscal fourth quarter 2015, exclude $15.3 million , $0.5 million and $9.7 million , respectively, related to warrant liability gain. |
Summary of Significant Accoun56
Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2016USD ($) | Jul. 01, 2016USD ($) | Apr. 01, 2016USD ($) | Jan. 01, 2016USD ($) | Oct. 02, 2015USD ($) | Jul. 03, 2015USD ($) | Apr. 03, 2015USD ($) | Jan. 02, 2015USD ($) | Sep. 30, 2016USD ($)segment$ / shares | Oct. 02, 2015USD ($)$ / shares | Oct. 03, 2014USD ($)$ / shares | |
Description Of Business And Basis Of Presentation [Line Items] | |||||||||||
Number of reportable operating segments | segment | 1 | ||||||||||
Change in estimate, rolling average period | 12 months | ||||||||||
Revenue | $ 152,697 | $ 142,288 | $ 133,579 | $ 115,774 | $ 112,564 | $ 109,058 | $ 102,431 | $ 96,556 | $ 544,338 | $ 420,609 | $ 339,189 |
Net income (loss) | $ 1,434 | $ 48,589 | $ (15,323) | ||||||||
Earnings per share (in USD per share) | $ / shares | $ 0.03 | $ 0.95 | $ (0.33) | ||||||||
Allowance for Rebates and Returns | |||||||||||
Description Of Business And Basis Of Presentation [Line Items] | |||||||||||
Reserve related to future rebates and returns | $ 6,000 | $ 6,000 | |||||||||
Adjustments Related to Change in Estimate | |||||||||||
Description Of Business And Basis Of Presentation [Line Items] | |||||||||||
Revenue | 17,400 | ||||||||||
Net income (loss) | $ 7,700 | ||||||||||
Earnings per share (in USD per share) | $ / shares | $ 0.15 | ||||||||||
Minimum | |||||||||||
Description Of Business And Basis Of Presentation [Line Items] | |||||||||||
Definite-lived intangible asset useful life | 5 years | ||||||||||
Change in estimate as a percent of revenue | 10.00% | ||||||||||
Maximum | |||||||||||
Description Of Business And Basis Of Presentation [Line Items] | |||||||||||
Definite-lived intangible asset useful life | 10 years | ||||||||||
Change in estimate as a percent of revenue | 15.00% |
Summary of Significant Accoun57
Summary of Significant Accounting policies - Schedule of Estimated Useful Life (Detail) | 12 Months Ended |
Sep. 30, 2016 | |
Buildings and improvements | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Estimated Useful Life In Years | 40 years |
Minimum | Machinery and equipment | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Estimated Useful Life In Years | 2 years |
Minimum | Computer equipment and software | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Estimated Useful Life In Years | 2 years |
Minimum | Furniture and fixtures | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Estimated Useful Life In Years | 7 years |
Maximum | Machinery and equipment | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Estimated Useful Life In Years | 7 years |
Maximum | Computer equipment and software | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Estimated Useful Life In Years | 5 years |
Maximum | Furniture and fixtures | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Estimated Useful Life In Years | 10 years |
Acquisitons - Additional Inform
Acquisitons - Additional Information (Detail) - USD ($) | Dec. 14, 2015 | Dec. 09, 2015 | Dec. 15, 2014 | Sep. 30, 2016 | Jan. 01, 2016 | Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 |
Business Acquisition [Line Items] | ||||||||
Aggregate cash consideration | $ 85,517,000 | $ 208,352,000 | $ 260,875,000 | |||||
Goodwill | $ 120,024,000 | 120,024,000 | 93,346,000 | |||||
FiBest Limited | ||||||||
Business Acquisition [Line Items] | ||||||||
Aggregate consideration | $ 59,100,000 | |||||||
Aggregate cash consideration | 47,500,000 | 47,517,000 | ||||||
Debt assumed | $ 11,600,000 | 11,627,000 | 11,627,000 | |||||
Goodwill | 15,358,000 | $ 15,358,000 | ||||||
Weighted average life of identified intangible assets acquired | 9 years 4 months 24 days | |||||||
FiBest Limited | Selling, general and administrative | ||||||||
Business Acquisition [Line Items] | ||||||||
Transaction costs | $ 2,700,000 | |||||||
FiBest Limited | Adjustment | ||||||||
Business Acquisition [Line Items] | ||||||||
Aggregate cash consideration | 0 | |||||||
Debt assumed | 0 | 0 | ||||||
Goodwill | (852,000) | (852,000) | ||||||
Aeroflex/Metelics Inc. | ||||||||
Business Acquisition [Line Items] | ||||||||
Aggregate cash consideration | $ 37,100,000 | 37,125,000 | ||||||
Goodwill | 7,723,000 | $ 7,723,000 | ||||||
Weighted average life of identified intangible assets acquired | 9 years 10 months 24 days | |||||||
Adjustment associated with business acquisition, inventory | 3,500,000 | |||||||
Aeroflex/Metelics Inc. | Selling, general and administrative | ||||||||
Business Acquisition [Line Items] | ||||||||
Transaction costs | $ 500,000 | |||||||
Aeroflex/Metelics Inc. | Adjustment | ||||||||
Business Acquisition [Line Items] | ||||||||
Aggregate cash consideration | (875,000) | |||||||
Goodwill | 3,521,000 | $ 3,521,000 | ||||||
BinOptics Corporation | ||||||||
Business Acquisition [Line Items] | ||||||||
Aggregate consideration | $ 208,400,000 | |||||||
Aggregate cash consideration | $ 208,352,000 | |||||||
Debt assumed | 2,535,000 | |||||||
Goodwill | 88,369,000 | |||||||
Weighted average life of identified intangible assets acquired | 9 years 7 months 6 days | |||||||
Additional borrowing under revolving credit facility | 100,000,000 | |||||||
Goodwill, tax deductible | $ 0 | $ 0 | ||||||
BinOptics Corporation | Selling, general and administrative | ||||||||
Business Acquisition [Line Items] | ||||||||
Transaction costs | $ 4,200,000 | |||||||
BinOptics Corporation | Retention Escrow Agreement | ||||||||
Business Acquisition [Line Items] | ||||||||
Aggregate consideration | $ 14,600,000 | |||||||
BinOptics Corporation | Adjustment | ||||||||
Business Acquisition [Line Items] | ||||||||
Aggregate cash consideration | 0 | |||||||
Debt assumed | 0 | |||||||
Goodwill | $ 799,000 |
Acquisitions - Schedule of Aggr
Acquisitions - Schedule of Aggregate Purchase Price Allocated to Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Dec. 14, 2015 | Dec. 09, 2015 | Jan. 01, 2016 | Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 |
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | $ 85,517 | $ 208,352 | $ 260,875 | |||
Goodwill | 120,024 | $ 93,346 | ||||
FiBest Limited | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | 10,445 | |||||
Intangible assets | 45,650 | |||||
Other assets | 3,317 | |||||
Total assets acquired | 59,412 | |||||
Liabilities assumed: | ||||||
Debt | $ 11,600 | 11,627 | ||||
Deferred income taxes | 11,658 | |||||
Other liabilities | 3,968 | |||||
Total liabilities assumed | 27,253 | |||||
Net assets acquired | 32,159 | |||||
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | $ 47,500 | 47,517 | ||||
Goodwill | 15,358 | |||||
FiBest Limited | Preliminary Allocation | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | 10,850 | |||||
Intangible assets | 45,650 | |||||
Other assets | 3,334 | |||||
Total assets acquired | 59,834 | |||||
Liabilities assumed: | ||||||
Debt | 11,627 | |||||
Deferred income taxes | 12,932 | |||||
Other liabilities | 3,968 | |||||
Total liabilities assumed | 28,527 | |||||
Net assets acquired | 31,307 | |||||
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | 47,517 | |||||
Goodwill | 16,210 | |||||
FiBest Limited | Allocation Adjustments | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | (405) | |||||
Intangible assets | 0 | |||||
Other assets | (17) | |||||
Total assets acquired | (422) | |||||
Liabilities assumed: | ||||||
Debt | 0 | |||||
Deferred income taxes | (1,274) | |||||
Other liabilities | 0 | |||||
Total liabilities assumed | (1,274) | |||||
Net assets acquired | 852 | |||||
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | 0 | |||||
Goodwill | (852) | |||||
Aeroflex/Metelics Inc. | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | 12,614 | |||||
Intangible assets | 20,900 | |||||
Other assets | 3,089 | |||||
Total assets acquired | 36,603 | |||||
Liabilities assumed: | ||||||
Other liabilities | 7,201 | |||||
Total liabilities assumed | 7,201 | |||||
Net assets acquired | 29,402 | |||||
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | $ 37,100 | 37,125 | ||||
Goodwill | 7,723 | |||||
Aeroflex/Metelics Inc. | Preliminary Allocation | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | 15,250 | |||||
Intangible assets | 19,700 | |||||
Other assets | 6,249 | |||||
Total assets acquired | 41,199 | |||||
Liabilities assumed: | ||||||
Other liabilities | 7,401 | |||||
Total liabilities assumed | 7,401 | |||||
Net assets acquired | 33,798 | |||||
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | 38,000 | |||||
Goodwill | 4,202 | |||||
Aeroflex/Metelics Inc. | Allocation Adjustments | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | (2,636) | |||||
Intangible assets | 1,200 | |||||
Other assets | (3,160) | |||||
Total assets acquired | (4,596) | |||||
Liabilities assumed: | ||||||
Other liabilities | (200) | |||||
Total liabilities assumed | (200) | |||||
Net assets acquired | (4,396) | |||||
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | (875) | |||||
Goodwill | $ 3,521 | |||||
BinOptics Corporation | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | $ 22,574 | |||||
Intangible assets | 137,300 | |||||
Other assets | 9,194 | |||||
Total assets acquired | 169,068 | |||||
Liabilities assumed: | ||||||
Debt | 2,535 | |||||
Deferred income taxes | 33,444 | |||||
Other liabilities | 13,106 | |||||
Total liabilities assumed | 49,085 | |||||
Net assets acquired | 119,983 | |||||
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | 208,352 | |||||
Goodwill | 88,369 | |||||
BinOptics Corporation | Preliminary Allocation | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | 23,674 | |||||
Intangible assets | 136,900 | |||||
Other assets | 9,194 | |||||
Total assets acquired | 169,768 | |||||
Liabilities assumed: | ||||||
Debt | 2,535 | |||||
Deferred income taxes | 33,345 | |||||
Other liabilities | 13,106 | |||||
Total liabilities assumed | 48,986 | |||||
Net assets acquired | 120,782 | |||||
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | 208,352 | |||||
Goodwill | 87,570 | |||||
BinOptics Corporation | Allocation Adjustments | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | (1,100) | |||||
Intangible assets | 400 | |||||
Other assets | 0 | |||||
Total assets acquired | (700) | |||||
Liabilities assumed: | ||||||
Debt | 0 | |||||
Deferred income taxes | 99 | |||||
Other liabilities | 0 | |||||
Total liabilities assumed | 99 | |||||
Net assets acquired | (799) | |||||
Consideration: | ||||||
Cash paid upon closing, net of cash acquired | 0 | |||||
Goodwill | $ 799 |
Acquisitions - Components of Ac
Acquisitions - Components of Acquired Intangible Assets on a Preliminary Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | $ 85,762 | $ 224,470 |
Developed technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | 10,400 | 17,500 |
Customer relationships | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | 54,950 | $ 119,400 |
FiBest Limited | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | 45,650 | |
FiBest Limited | Developed technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | $ 9,400 | |
Acquired intangible assets, Useful Lives (Years) | 7 years | |
FiBest Limited | Customer relationships | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | $ 36,250 | |
Acquired intangible assets, Useful Lives (Years) | 10 years | |
Aeroflex/Metelics Inc. | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | $ 20,900 | |
Aeroflex/Metelics Inc. | Developed technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | $ 1,000 | |
Acquired intangible assets, Useful Lives (Years) | 7 years | |
Aeroflex/Metelics Inc. | Customer relationships | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | $ 19,900 | |
Acquired intangible assets, Useful Lives (Years) | 10 years | |
BinOptics Corporation | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | $ 137,300 | |
BinOptics Corporation | Developed technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | $ 17,500 | |
Acquired intangible assets, Useful Lives (Years) | 7 years | |
BinOptics Corporation | Customer relationships | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Acquired intangible assets | $ 119,800 | |
Acquired intangible assets, Useful Lives (Years) | 10 years |
Acquisitions - Summary of Reven
Acquisitions - Summary of Revenue and Earnings (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
FiBest Limited | ||
Business Acquisition [Line Items] | ||
Revenue | $ 30,540 | |
Income (loss) before income taxes | (4,616) | |
Aeroflex/Metelics Inc. | ||
Business Acquisition [Line Items] | ||
Revenue | 33,552 | |
Income (loss) before income taxes | $ 3,372 | |
BinOptics Corporation | ||
Business Acquisition [Line Items] | ||
Revenue | $ 61,549 | |
Income (loss) before income taxes | $ 354 |
Acquisitions - Summary of Unaud
Acquisitions - Summary of Unaudited Supplemental Pro Forma Data (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
FiBest Limited | |||
Business Acquisition [Line Items] | |||
Revenue | $ 551,964 | $ 444,991 | |
Net income (loss) | (3,324) | 36,715 | |
Aeroflex/Metelics Inc. | |||
Business Acquisition [Line Items] | |||
Revenue | 553,174 | 459,048 | |
Net income (loss) | $ 1,183 | 45,107 | |
BinOptics Corporation | |||
Business Acquisition [Line Items] | |||
Revenue | 428,440 | $ 384,452 | |
Net income (loss) | $ (3,489) | $ (98,119) |
Investments - Summary of Availa
Investments - Summary of Available for Sale Investments (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 23,876 | $ 39,654 |
Gross Unrealized Holding Gains | 10 | 8 |
Gross Unrealized Holding Losses | (110) | (105) |
Aggregate Fair Value | 23,776 | 39,557 |
Corporate bonds | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 14,894 | 24,546 |
Gross Unrealized Holding Gains | 9 | 5 |
Gross Unrealized Holding Losses | (103) | (89) |
Aggregate Fair Value | 14,800 | 24,462 |
Commercial paper | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,978 | |
Gross Unrealized Holding Gains | 0 | |
Gross Unrealized Holding Losses | (4) | |
Aggregate Fair Value | 2,974 | |
US treasuries and agency bonds | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 6,004 | 15,108 |
Gross Unrealized Holding Gains | 1 | 3 |
Gross Unrealized Holding Losses | (3) | (16) |
Aggregate Fair Value | $ 6,002 | $ 15,095 |
Investments - Summary of Contra
Investments - Summary of Contractual Maturities of Investments (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Investments, Debt and Equity Securities [Abstract] | ||
Less than 1 year | $ 8,976 | |
Over 1 year | 14,800 | |
Total investments | $ 23,776 | $ 39,557 |
Investments - Additional Inform
Investments - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Net Investment Income [Line Items] | |||
Proceeds from sales of available-for-sale securities | $ 51.6 | ||
Gross realized gains on available-for-sale securities | 0.1 | ||
Gross realized losses on available-for-sale securities | $ 0.2 | ||
Minority equity investment | $ 5 | ||
Impairment of minority equity investment | $ 3.5 | ||
Proceeds from sale of minority equity investment | 1.5 | ||
Convertible Debt | |||
Net Investment Income [Line Items] | |||
Minority investment in the convertible debt | $ 0.5 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 124,901 | $ 54,557 |
Total liabilities measured at fair value | 39,101 | 22,972 |
Contingent consideration | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities measured at fair value | 848 | 1,150 |
Common stock warrant liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities measured at fair value | 38,253 | 21,822 |
US treasuries and agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 6,002 | 15,095 |
Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 14,799 | 24,462 |
Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,172 | 15,000 |
Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 102,928 | |
Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,172 | 15,000 |
Total liabilities measured at fair value | 0 | 0 |
Active Markets for Identical Assets (Level 1) | Contingent consideration | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities measured at fair value | 0 | 0 |
Active Markets for Identical Assets (Level 1) | Common stock warrant liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities measured at fair value | 0 | 0 |
Active Markets for Identical Assets (Level 1) | US treasuries and agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Active Markets for Identical Assets (Level 1) | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Active Markets for Identical Assets (Level 1) | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,172 | 15,000 |
Active Markets for Identical Assets (Level 1) | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 123,729 | 39,557 |
Total liabilities measured at fair value | 0 | 0 |
Observable Inputs (Level 2) | Contingent consideration | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities measured at fair value | 0 | 0 |
Observable Inputs (Level 2) | Common stock warrant liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities measured at fair value | 0 | 0 |
Observable Inputs (Level 2) | US treasuries and agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 6,002 | 15,095 |
Observable Inputs (Level 2) | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 14,799 | 24,462 |
Observable Inputs (Level 2) | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Observable Inputs (Level 2) | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 102,928 | |
Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Total liabilities measured at fair value | 39,101 | 22,972 |
Unobservable Inputs (Level 3) | Contingent consideration | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities measured at fair value | 848 | 1,150 |
Unobservable Inputs (Level 3) | Common stock warrant liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities measured at fair value | 38,253 | 21,822 |
Unobservable Inputs (Level 3) | US treasuries and agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Unobservable Inputs (Level 3) | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Unobservable Inputs (Level 3) | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | $ 0 |
Unobservable Inputs (Level 3) | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 0 |
Fair Value - Quantitative Infor
Fair Value - Quantitative Information Used in Fair Value Calculation of Level 3 Liabilities (Details) - Unobservable Inputs (Level 3) - Fair Value, Measurements, Recurring - $ / shares | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Discounted cash flow | Contingent consideration | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Discount rate | 12.90% | 16.00% |
Expected term | 1 year | 2 years |
Discounted cash flow | Contingent consideration | Minimum | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Probability of achievement | 75.00% | 75.00% |
Discounted cash flow | Contingent consideration | Maximum | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Probability of achievement | 100.00% | 90.00% |
Black-scholes model | Common stock warrant liability | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Discount rate | 1.14% | 1.30% |
Expected term | 4 years 2 months 23 days | 5 years 2 months 12 days |
Volatility | 43.20% | 36.00% |
Exercise price (in USD per share) | $ 14.05 | $ 14.05 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) | Sep. 30, 2016USD ($) |
Fair Value Disclosures [Abstract] | |
Maximum possible payment of contingent consideration | $ 1,500,000 |
Fair Value - Changes in Assets
Fair Value - Changes in Assets and Liabilities with Inputs Classified within Level 3 of Fair Value (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Contingent consideration | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ 1,150 | $ 820 | $ 0 |
Net Realized/Unrealized Losses (Gains) Included in Earnings | 98 | 330 | 0 |
Purchases and Issuances | 0 | 0 | 820 |
Sales and Settlements | (400) | 0 | 0 |
Transfers in and/or (out) of Level 3 | 0 | 0 | 0 |
Ending balance | 848 | 1,150 | 820 |
Warrant liability | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 21,822 | 15,801 | 11,873 |
Net Realized/Unrealized Losses (Gains) Included in Earnings | 16,431 | 6,021 | (3,928) |
Purchases and Issuances | 0 | 0 | 0 |
Sales and Settlements | 0 | 0 | 0 |
Transfers in and/or (out) of Level 3 | 0 | 0 | 0 |
Ending balance | 38,253 | 21,822 | 15,801 |
Trading securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ 0 | 250 | 0 |
Net Realized/Unrealized Losses (Gains) Included in Earnings | 0 | 0 | |
Purchases and Issuances | 500 | 250 | |
Sales and Settlements | (750) | 0 | |
Transfers in and/or (out) of Level 3 | 0 | 0 | |
Ending balance | $ 0 | $ 250 |
Accounts Receivables Allowanc70
Accounts Receivables Allowances- Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Balance - beginning of year | $ 5,745 | $ 725 | $ 514 |
Provision (recoveries), net | 10,453 | 11,010 | 250 |
Charge-offs | (12,919) | (5,990) | (39) |
Balance - end of year | 3,279 | 5,745 | 725 |
Compensation Credits and Customer Returns Allowance | |||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Balance - beginning of year | 5,500 | 400 | |
Balance - end of year | 3,000 | 5,500 | 400 |
Allowance for Doubtful Accounts | |||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Balance - beginning of year | 200 | 200 | |
Balance - end of year | $ 200 | $ 200 | $ 200 |
Inventories - Components of Inv
Inventories - Components of Inventories (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 67,378 | $ 44,329 |
Work-in-process | 9,157 | 3,086 |
Finished goods | 38,400 | 32,528 |
Total | $ 114,935 | $ 79,943 |
Property Plant and Equipment -
Property Plant and Equipment - Components of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 178,201 | $ 146,182 |
Less accumulated depreciation and amortization | (79,034) | (62,423) |
Property and equipment — net | 99,167 | 83,759 |
Land, buildings and improvements | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 12,572 | 10,981 |
Construction in process | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 9,415 | 25,898 |
Machinery and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 129,639 | 89,852 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 12,152 | 9,161 |
Furniture and fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 1,469 | 983 |
Computer equipment and software | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 12,954 | $ 9,307 |
Property Plant and Equipment 73
Property Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation and amortization expense | $ 20.4 | $ 15.7 | $ 14 |
Debt - Additional Information (
Debt - Additional Information (Detail) - USD ($) | 12 Months Ended | ||||||
Sep. 30, 2016 | Aug. 31, 2016 | Jan. 01, 2016 | Dec. 09, 2015 | Oct. 02, 2015 | Feb. 28, 2015 | May 08, 2014 | |
Debt Instrument [Line Items] | |||||||
Deferred financing costs, net | $ 8,800,000 | ||||||
FiBest Limited | |||||||
Debt Instrument [Line Items] | |||||||
Borrowings outstanding | 3,100,000 | ||||||
Debt assumed | 11,627,000 | $ 11,600,000 | |||||
BinOptics Corporation | |||||||
Debt Instrument [Line Items] | |||||||
Debt assumed | $ 2,535,000 | ||||||
Capital lease obligations | $ 500,000 | $ 2,500,000 | |||||
Term Loans | |||||||
Debt Instrument [Line Items] | |||||||
Line of credit effective interest rate | 4.50% | ||||||
Borrowings outstanding | $ 587,436,000 | ||||||
Quarterly principal installments | $ 1,500,000 | ||||||
Maximum period for reinvestment of business divestiture proceeds | 18 months | ||||||
Maximum period for completion of reinvestment of business divestiture proceeds | 6 months | ||||||
Deferred financing costs, net | $ 7,500,000 | ||||||
Principal balance | 591,487,000 | ||||||
Estimated fair value of term loans | $ 595,900,000 | ||||||
Term Loans | Annual LIBOR | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 3.75% | ||||||
Term Loans | One Month LIBOR | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 1.00% | ||||||
Term Loans | Federal Funds Rate | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 0.50% | ||||||
Term Loans | Base Rate | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 2.75% | ||||||
Term Loans | Minimum | Annual LIBOR | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 0.75% | ||||||
Term Loans | Minimum | Base Rate | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 1.75% | ||||||
Revolving Credit Facility | |||||||
Debt Instrument [Line Items] | |||||||
Deferred financing costs, net | $ 1,300,000 | ||||||
Revolving Credit Facility | Minimum | |||||||
Debt Instrument [Line Items] | |||||||
Unused line fee percentage | 0.25% | ||||||
Revolving Credit Facility | Minimum | Annual LIBOR | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 2.00% | ||||||
Revolving Credit Facility | Minimum | Base Rate | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 1.00% | ||||||
Revolving Credit Facility | Maximum | |||||||
Debt Instrument [Line Items] | |||||||
Unused line fee percentage | 0.375% | ||||||
Revolving Credit Facility | Maximum | Annual LIBOR | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 2.50% | ||||||
Revolving Credit Facility | Maximum | Base Rate | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 1.50% | ||||||
Credit Agreement | |||||||
Debt Instrument [Line Items] | |||||||
Deferred financing costs | $ 8,700,000 | ||||||
Credit Agreement | Term Loans | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity | $ 350,000,000 | ||||||
Discount rate | 0.75% | ||||||
Credit Agreement | Revolving Credit Facility | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity | $ 130,000,000 | $ 100,000,000 | |||||
Credit Agreement | Revolving Credit Facility | Line of Credit | |||||||
Debt Instrument [Line Items] | |||||||
Borrowings under revolving credit facility | 0 | ||||||
Incremental Term Loan Amendment | |||||||
Debt Instrument [Line Items] | |||||||
Deferred financing costs | 3,100,000 | ||||||
Incremental Term Loan Amendment | Term Loans | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity | $ 250,000,000 | ||||||
Discount rate | 0.95% | ||||||
Accounting Standards Update 2015-03 | Long-term debt, less current portion | |||||||
Debt Instrument [Line Items] | |||||||
Deferred financing costs, net | $ 7,500,000 | $ 5,400,000 |
Debt - Schedule of Remained Out
Debt - Schedule of Remained Outstanding on Term Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Debt Instrument [Line Items] | ||
Current portion | $ 7,203 | $ 4,058 |
Long-term, less current portion | 576,345 | $ 335,087 |
Term Loans | ||
Debt Instrument [Line Items] | ||
Principal balance | 591,487 | |
Unamortized discount | (4,051) | |
Total Term loans | 587,436 | |
Current portion | 6,051 | |
Long-term, less current portion | $ 581,385 |
Debt - Schedule of Minimum Prin
Debt - Schedule of Minimum Principal Payments under Term Loans (Detail) - Term Loans $ in Thousands | Sep. 30, 2016USD ($) |
Debt Instrument [Line Items] | |
2,017 | $ 6,051 |
2,018 | 6,051 |
2,019 | 6,051 |
2,020 | 6,051 |
2,021 | 567,283 |
Total | $ 591,487 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Foreign Jurisdictions | |||
Employee Benefit Plan [Line Items] | |||
Discretionary matching contribution | $ 1,100,000 | $ 1,000,000 | $ 1,000,000 |
Calender Year 2015 | US | |||
Employee Benefit Plan [Line Items] | |||
Discretionary matching contribution | 1,900,000 | ||
Calender Year 2016 | US | |||
Employee Benefit Plan [Line Items] | |||
Discretionary matching contribution | $ 0 |
Accrued Liabilities - Schedule
Accrued Liabilities - Schedule of Accrued Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Other Liabilities Disclosure [Abstract] | ||
Compensation and benefits | $ 32,563 | $ 20,711 |
Interest payable | 4,314 | 3,502 |
Distribution costs | 3,584 | 3,091 |
Restructuring costs | 3,104 | 943 |
Asset retirement obligations | 2,932 | 0 |
Professional fees | 1,706 | 2,167 |
Rent and utilities | 1,310 | 1,458 |
Product warranty | 1,039 | 656 |
Software licenses | 90 | 1,223 |
Other | 3,726 | 4,356 |
Total | $ 54,368 | $ 38,107 |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Future Minimum Lease Payments for Operating Leases (Detail) $ in Thousands | Sep. 30, 2016USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,017 | $ 9,245 |
2,018 | 6,715 |
2,019 | 5,865 |
2,020 | 3,188 |
2,021 | 1,560 |
Thereafter | 5,475 |
Total minimum lease payments | $ 32,048 |
Commitments and Contingencies80
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 |
Loss Contingencies [Line Items] | ||||
Rent expenses | $ 7 | $ 6.5 | $ 6.6 | |
Asset retirement obligation | $ 4.3 | 4.3 | $ 1.3 | $ 1.8 |
Outstanding non-cancelable purchase commitments | 1.1 | |||
Letter of Credit | ||||
Loss Contingencies [Line Items] | ||||
Outstanding unused letters of credit | $ 0.4 | $ 0.4 |
Restructurings - Summary of Cos
Restructurings - Summary of Costs Related to Restructuring Actions (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Restructuring Reserve [Roll Forward] | |||
Beginning balance | $ 943 | $ 801 | $ 145 |
Current period charges | 3,465 | 1,280 | 14,823 |
Payments | (1,304) | (1,138) | (14,167) |
Ending balance | $ 3,104 | $ 943 | $ 801 |
Restructurings- Additional Deta
Restructurings- Additional Details (Details) $ in Millions | Sep. 30, 2016USD ($) |
Minimum | |
Restructuring Cost and Reserve [Line Items] | |
Expected remaining restructuring costs | $ 1 |
Maximum | |
Restructuring Cost and Reserve [Line Items] | |
Expected remaining restructuring costs | $ 3 |
Product Warranties - Additional
Product Warranties - Additional Information (Detail) | 12 Months Ended |
Sep. 30, 2016 | |
Minimum | |
Product Warranty Liability [Line Items] | |
Term of product warranties | 12 months |
Maximum | |
Product Warranty Liability [Line Items] | |
Term of product warranties | 60 months |
Product Warranties - Schedule o
Product Warranties - Schedule of Product Warranty Liability Activity (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Movement in Standard Product Warranty Accrual [Roll Forward] | |||
Balance — beginning of year | $ 656 | $ 446 | $ 318 |
Impact of acquisition | 413 | 50 | 202 |
Provisions | (30) | 160 | (74) |
Balance — end of year | $ 1,039 | $ 656 | $ 446 |
Intangible Assets - Summary of
Intangible Assets - Summary of Amortization Expense of Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Finite-Lived Intangible Assets [Line Items] | |||
Total | $ 50,255 | $ 38,980 | $ 20,593 |
Cost of revenue | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total | 26,615 | 27,285 | 18,787 |
Selling, general and administrative | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total | $ 23,640 | $ 11,695 | $ 1,806 |
Intangible Assets - Summary o86
Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Total | $ 384,471 | $ 318,006 |
Less accumulated amortization | (124,869) | (74,340) |
Intangible assets — net | 259,602 | 243,666 |
In-process research and development | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total | 8,000 | 8,000 |
Trade name | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total | 3,400 | 3,400 |
Acquired technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total | 165,397 | 162,536 |
Less accumulated amortization | (76,700) | (52,000) |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total | 207,674 | 144,070 |
Less accumulated amortization | $ (48,100) | $ (22,300) |
Intangible Assets - Summary o87
Intangible Assets - Summary of Activity in Intangible Assets and Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Goodwill and Intangible Assets [Roll Forward] | ||
Beginning balance | $ 411,352 | $ 188,777 |
Net intangibles acquired | 85,762 | 224,470 |
Placed in service | 0 | |
Adjustment to fair value | 16,801 | (190) |
Goodwill allocation to discontinued operations | (5,008) | |
Impairments of intangible assets | (10,088) | |
Other intangibles purchased | 668 | 3,303 |
Ending balance | 504,495 | 411,352 |
In-process research and development | ||
Goodwill and Intangible Assets [Roll Forward] | ||
Beginning balance | 8,000 | 17,970 |
Net intangibles acquired | 0 | 0 |
Placed in service | (9,780) | |
Adjustment to fair value | 0 | (190) |
Goodwill allocation to discontinued operations | 0 | |
Impairments of intangible assets | 0 | |
Other intangibles purchased | 0 | 0 |
Ending balance | 8,000 | 8,000 |
Trade name | ||
Goodwill and Intangible Assets [Roll Forward] | ||
Beginning balance | 3,400 | 3,400 |
Net intangibles acquired | 0 | 0 |
Placed in service | 0 | |
Adjustment to fair value | 0 | 0 |
Goodwill allocation to discontinued operations | 0 | |
Impairments of intangible assets | 0 | |
Other intangibles purchased | 0 | 0 |
Ending balance | 3,400 | 3,400 |
Goodwill | ||
Goodwill and Intangible Assets [Roll Forward] | ||
Beginning balance | 93,346 | 10,784 |
Net intangibles acquired | 20,412 | 87,570 |
Placed in service | 0 | |
Adjustment to fair value | 6,266 | 0 |
Goodwill allocation to discontinued operations | (5,008) | |
Impairments of intangible assets | 0 | |
Other intangibles purchased | 0 | 0 |
Ending balance | 120,024 | 93,346 |
Acquired technology | ||
Goodwill and Intangible Assets [Roll Forward] | ||
Beginning balance | 162,536 | 131,953 |
Net intangibles acquired | 10,400 | 17,500 |
Placed in service | 9,780 | |
Adjustment to fair value | 1,881 | 0 |
Goodwill allocation to discontinued operations | 0 | |
Impairments of intangible assets | (10,088) | |
Other intangibles purchased | 668 | 3,303 |
Ending balance | 165,397 | 162,536 |
Customer relationships | ||
Goodwill and Intangible Assets [Roll Forward] | ||
Beginning balance | 144,070 | 24,670 |
Net intangibles acquired | 54,950 | 119,400 |
Placed in service | 0 | |
Adjustment to fair value | 8,654 | 0 |
Goodwill allocation to discontinued operations | 0 | |
Impairments of intangible assets | 0 | |
Other intangibles purchased | 0 | 0 |
Ending balance | $ 207,674 | $ 144,070 |
Intangible Assets - Summary o88
Intangible Assets - Summary of Estimated Amortization of Intangible Assets (Detail) $ in Thousands | Sep. 30, 2016USD ($) |
Amortization expense | |
2,017 | $ 51,647 |
2,018 | 48,742 |
2,019 | 42,045 |
2,020 | 33,914 |
2,021 | 27,613 |
Thereafter | $ 44,241 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Jul. 01, 2016 | Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Accumulated amortization | $ 124,869 | $ 74,340 | ||
Impairment charges | $ 13,800 | 12,955 | 3,500 | $ 0 |
Impairment charges | 11,765 | 0 | $ 0 | |
Inventory impairment charges | 2,000 | |||
Intangible Assets | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Impairment charges | 10,100 | |||
Fixed Assets | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Impairment charges | 600 | |||
Contractual Commitments | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Impairment charges | $ 1,100 | |||
Acquired technology | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Accumulated amortization | 76,700 | 52,000 | ||
Customer relationships | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Accumulated amortization | $ 48,100 | $ 22,300 |
Income Taxes - Components of De
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Current deferred tax assets: | ||
Accrued liabilities | $ 0 | $ 11,332 |
Inventory | 0 | 5,043 |
Deferred revenue | 0 | (3) |
Accounts receivable | 0 | 51 |
Federal net operating loss | 0 | 11,186 |
Other current deferred tax assets | 0 | 0 |
Discontinued operations | 0 | 2,703 |
Deferred compensation | 0 | 3,468 |
Valuation allowance | 0 | (2,349) |
Current net deferred tax assets | 0 | 31,431 |
Non-current deferred tax assets (liabilities): | ||
Federal and foreign net operating losses and credits | 85,256 | 70,448 |
Intangible assets | (49,725) | (44,196) |
Property and equipment | (2,730) | (2,977) |
Other non-current deferred tax assets | 21,855 | 292 |
Discontinued operations | 9,100 | 9,191 |
Deferred compensation | 5,545 | 1,066 |
Deferred gain | 19,011 | 23,531 |
Valuation allowance | (10,471) | (9,116) |
Non-current net deferred tax assets (liabilities) | 77,841 | 48,239 |
Total deferred tax asset | $ 77,841 | $ 79,670 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Income Taxes [Line Items] | |||
Deferred tax liability, intangible assets | $ 49,725 | $ 44,196 | |
Income tax (benefit) provision | (17,983) | (9,858) | $ (16,086) |
Valuation allowance amount | 0 | 2,349 | |
Valuation allowance change | (994) | 1,965 | (522) |
Income (loss) from operations before income taxes | $ (21,571) | $ (15,400) | $ (40,900) |
Effective income tax rate | 83.40% | 63.90% | 39.40% |
Undistributed earnings | $ 105,300 | ||
Out of Period Adjustment | |||
Income Taxes [Line Items] | |||
Income tax (benefit) provision | 3,900 | ||
Japan | |||
Income Taxes [Line Items] | |||
Deferred tax liability | 11,800 | ||
Deferred tax liability, intangible assets | 14,900 | ||
Net operating loss | 2,900 | ||
Ireland | |||
Income Taxes [Line Items] | |||
Undistributed earnings | 45,000 | ||
Grand Cayman | |||
Income Taxes [Line Items] | |||
Undistributed earnings | 56,300 | ||
Federal | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 195,700 | ||
Foreign | Japan | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 7,000 | ||
BinOptics Corporation | Federal | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 2,200 | ||
Prior Acquisitions | Federal | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 193,500 | ||
Mindspeed Acquisition | |||
Income Taxes [Line Items] | |||
Valuation allowance amount | 10,500 | $ 11,500 | |
Tax Year 2015 | Out of Period Adjustment | |||
Income Taxes [Line Items] | |||
Income tax (benefit) provision | 1,700 | ||
Tax Year 2014 | Out of Period Adjustment | |||
Income Taxes [Line Items] | |||
Income tax (benefit) provision | 1,000 | ||
Tax Year 2013 | Out of Period Adjustment | |||
Income Taxes [Line Items] | |||
Income tax (benefit) provision | $ 1,200 |
Income Taxes - Summary of Domes
Income Taxes - Summary of Domestic and Foreign Income (Loss) from Continuing Operations Before Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Income Tax Disclosure [Abstract] | |||
United States | $ (46,593) | $ (34,251) | $ (60,836) |
Foreign | 25,022 | 18,851 | 19,936 |
(Loss) income from operations before income taxes | $ (21,571) | $ (15,400) | $ (40,900) |
Income Taxes - Components of Pr
Income Taxes - Components of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Current: | |||
Federal | $ (5,861) | $ (19,015) | $ 712 |
State | (766) | 688 | (419) |
Foreign | 906 | 1,092 | 2,181 |
Current provision (benefit) | (5,721) | (17,235) | 2,474 |
Deferred: | |||
Federal | (8,163) | 10,845 | (16,557) |
State | (502) | (4,131) | (756) |
Foreign | (2,603) | (1,302) | (725) |
Change in valuation allowance | (994) | 1,965 | (522) |
Deferred provision (benefit) | (12,262) | 7,377 | (18,560) |
Total provision (benefit) | $ (17,983) | $ (9,858) | $ (16,086) |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Effective Tax Rates (Detail) | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory rate | 35.00% | 35.00% | 35.00% |
Foreign rate differential | 40.10% | 30.50% | 11.20% |
State taxes net of federal benefit | 1.00% | 3.50% | 1.80% |
Warrant liabilities | (26.70%) | (13.70%) | (3.40%) |
Change in valuation allowance | 3.00% | (6.00%) | (0.30%) |
Research and development credits | 16.90% | 16.10% | 1.90% |
Correction of prior period | 18.30% | 0.00% | 0.00% |
Provision to return adjustments | 3.50% | 9.90% | 0.00% |
Nondeductible compensation expense | (9.20%) | (8.90%) | (1.50%) |
Nondeductible legal fees | (1.80%) | (4.10%) | (1.90%) |
Nitronex losses | 0.00% | 0.00% | (2.60%) |
Other permanent differences | 3.30% | 1.60% | (0.80%) |
Effective income tax rate | 83.40% | 63.90% | 39.40% |
Income Taxes - Activity Related
Income Taxes - Activity Related to Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Income Tax Disclosure [Abstract] | ||
Beginning balance | $ (1,670) | $ (1,670) |
Additions based on tax positions | 0 | 0 |
Reductions based on tax positions | 0 | 0 |
Ending balance | $ (1,670) | $ (1,670) |
Share-Based Compensation Plans
Share-Based Compensation Plans - Additional Information (Detail) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||||
Apr. 30, 2016$ / sharesshares | Nov. 30, 2015USD ($)shares | Sep. 30, 2015USD ($)$ / sharesshares | May 31, 2015USD ($)$ / sharesshares | Apr. 30, 2015USD ($)$ / sharesshares | Apr. 30, 2014USD ($)shares | Sep. 30, 2016USD ($)trancheplan$ / sharesshares | Oct. 02, 2015USD ($)$ / sharesshares | Oct. 03, 2014USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Number of equity incentive plans | plan | 3 | ||||||||
Number of shares available for future issuance (in shares) | 13,900,000 | ||||||||
Share-based compensation expense | $ | $ 26,954 | $ 19,435 | $ 11,277 | ||||||
Unrecognized compensation costs | $ | $ 49,200 | ||||||||
Weighted average period for recognition of unrecognized compensation costs | 2 years 9 months 18 days | ||||||||
Intrinsic value of options recognized | $ | $ 3,700 | $ 7,100 | 7,600 | ||||||
Options granted (in shares) | 305,000 | ||||||||
Exercise price of options (in USD per share) | $ / shares | $ 32.22 | ||||||||
Common stock, issued (in shares) | 53,709,000 | 52,958,000 | |||||||
Stock Options with Performance-based Vesting Criteria | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Award term | 7 years | 7 years | |||||||
Options granted (in shares) | 5,000 | 225,000 | 225,000 | ||||||
Grant date fair value of options (in USD per share) | $ / shares | $ 10.54 | $ 10.12 | $ 10.35 | ||||||
Options, aggregate grant date fair value | $ | $ 2,000 | $ 2,000 | |||||||
Exercise price of options (in USD per share) | $ / shares | $ 34.06 | $ 34.06 | |||||||
Stock Options with Market-based Vesting Criteria | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Award term | 7 years | 10 years | |||||||
Share-based compensation expense | $ | $ 2,500 | ||||||||
Weighted average period for recognition of unrecognized compensation costs | 3 years | 3 years | |||||||
Options granted (in shares) | 300,000 | 30,000 | 405,000 | ||||||
Grant date fair value of options (in USD per share) | $ / shares | $ 12.38 | ||||||||
Options, aggregate grant date fair value | $ | $ 3,500 | $ 400 | $ 3,500 | ||||||
Exercise price of options (in USD per share) | $ / shares | $ 29.80 | ||||||||
Target price per share of common stock for recognition of unrecognized compensation cost (in USD per share) | $ / shares | $ 64.22 | $ 32.55 | |||||||
Trailing average period for target price per share of common stock for recognition of unrecognized compensation cost | 30 days | ||||||||
Target price per share of common stock at which options become subject to vesting (in USD per share) | $ / shares | $ 63.60 | ||||||||
Number of consecutive trading days | 3 days | ||||||||
Share price (in USD per share) | $ / shares | $ 34.79 | ||||||||
Restricted Stock Awards and Units | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Total fair value of restricted stock awards and units vesting | $ | $ 26,500 | $ 23,300 | 9,200 | ||||||
RSUs | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Aggregate intrinsic value of vesting restricted stock units | $ | $ 67,300 | ||||||||
PRSU awards | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Number of tranches | tranche | 3 | ||||||||
PRSU awards | Tranche One | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Earnings percentage of targeted shares | 300.00% | ||||||||
Employee Stock | Employee Stock Purchase Plan | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Maximum ESPP payroll deductions | 15.00% | ||||||||
Common stock, issued (in shares) | 154,000 | 176,000 | |||||||
Maximum percentage annual increase of share available for future issuance | 1.25% | ||||||||
Annual increase of share available for future issuance (in shares) | 550,000 | ||||||||
Employee Stock | 2012 Plan | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Maximum percentage annual increase of share available for future issuance | 4.00% | ||||||||
Annual increase of share available for future issuance (in shares) | 1,900,000 | ||||||||
Automotive Divestiture | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based compensation expense | $ | $ 400 | $ 300 | |||||||
Minimum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Award term | 7 years | ||||||||
Minimum | PRSU awards | Tranche One | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Earnings percentage of targeted shares | 0.00% | ||||||||
Minimum | PRSU awards | Tranche Two | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Earnings percentage of targeted shares | 0.00% | ||||||||
Minimum | PRSU awards | Tranche Three | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Earnings percentage of targeted shares | 0.00% | ||||||||
Maximum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Award term | 10 years | ||||||||
Maximum | PRSU awards | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Incremental PRSU that could vest if all performance criteria are achieved | 240,585 | ||||||||
Maximum | PRSU awards | Tranche One | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Earnings percentage of targeted shares | 300.00% | ||||||||
Maximum | PRSU awards | Tranche Two | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Earnings percentage of targeted shares | 300.00% | ||||||||
Maximum | PRSU awards | Tranche Three | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Earnings percentage of targeted shares | 300.00% | ||||||||
Maximum | Employee Stock | Employee Stock Purchase Plan | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Annual increase of share available for future issuance (in shares) | 550,000 | ||||||||
Maximum | Employee Stock | 2012 Plan | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Annual increase of share available for future issuance (in shares) | 1,900,000 |
Share-Based Compensation Plan97
Share-Based Compensation Plans - Effects of Stock-Based Compensation Expense Related to Stock-Based Awards to Employees and Non-Employees (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | $ 26,954 | $ 19,435 | $ 11,277 |
Cost of revenue | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 2,150 | 1,949 | 1,771 |
Research and development | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 6,568 | 5,447 | 2,818 |
Selling, general and administrative | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | $ 18,236 | $ 12,039 | $ 6,688 |
Share-Based Compensation Plan98
Share-Based Compensation Plans - Summary of Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Sep. 30, 2016USD ($)$ / sharesshares | |
Number of Shares | |
Beginning balance (in shares) | shares | 889 |
Granted (in shares) | shares | 305 |
Exercised (in shares) | shares | (130) |
Forfeited, canceled or expired (in shares) | shares | (16) |
Ending balance (in shares) | shares | 1,048 |
Weighted-Average Exercise Price per Share | |
Beginning balance (in USD per share) | $ / shares | $ 18.40 |
Granted (in USD per share) | $ / shares | 32.22 |
Exercised (in USD per share) | $ / shares | 9.61 |
Forfeited, canceled or expired (in USD per share) | $ / shares | 40.04 |
Ending balance (in USD per share) | $ / shares | $ 23.18 |
Options Outstanding, Additional Disclosures | |
Aggregate Intrinsic Value | $ | $ 20,073 |
Weighted-Average Remaining Contractual Term (in Years) | 5 years 9 months 15 days |
Options Vested and Expected to Vest | |
Number of shares (in shares) | shares | 1,048 |
Weighted-Average Exercise Price Per Share (in USD per share) | $ / shares | $ 23.18 |
Weighted-Average Remaining Contractual Term (in Years) | 5 years 9 months 15 days |
Aggregate Intrinsic Value | $ | $ 20,073 |
Options Exercisable | |
Number of Shares (in shares) | shares | 508 |
Weighted-Average Exercise Price per Share (in USD per share) | $ / shares | $ 12.91 |
Weighted-Average Remaining Contractual Term (in Years) | 5 years 8 months 5 days |
Aggregate Intrinsic Value | $ | $ 14,939 |
Share-Based Compensation Plan99
Share-Based Compensation Plans - Weighted Average Assumptions used for Calculating Fair Value of Stock Options Granted (Detail) | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Stock Options with Market-based Vesting Criteria | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 2.10% | 1.90% | 2.70% |
Expected term (years) | 7 years | 7 years | 10 years |
Expected volatility | 36.50% | 37.40% | 42.60% |
Stock Options with Performance-based Vesting Criteria | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.20% | 1.20% | 0.00% |
Expected term (years) | 4 years | 4 years | 0 years |
Expected volatility | 31.80% | 36.20% | 0.00% |
Expected dividends | 0.00% | 0.00% | 0.00% |
Share-Based Compensation Pla100
Share-Based Compensation Plans - Summary of Restricted Stock Awards and Units Activity (Detail) - Restricted Stock Awards and Units - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Number of Shares | ||
Beginning balance- unvested (in shares) | 1,692 | |
Granted (in shares) | 864 | |
Vested (in shares) | (750) | |
Forfeited, canceled or expired (in shares) | (98) | |
Ending balance- unvested (in shares) | 1,708 | |
Weighted-Average Grant Date Fair Value | ||
Beginning balance- unvested (in USD per share) | $ 25.30 | |
Granted (in USD per share) | 39.73 | |
Vested (in USD per share) | 23.88 | |
Forfeited, canceled or expired (in USD per share) | 33.36 | |
Ending balance- unvested (in USD per share) | $ 32.76 | |
Aggregate Intrinsic Value | ||
Aggregate Intrinsic Value | $ 72,165 | $ 48,375 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - $ / shares | Sep. 30, 2016 | Oct. 02, 2015 | Mar. 31, 2012 |
Class of Warrant or Right [Line Items] | |||
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 | |
Preferred stock, par value (in USD per share) | $ 0.001 | $ 0.001 | |
Common stock, authorized (in shares) | 300,000,000 | 300,000,000 | |
Common stock, par value (in USD per share) | $ 0.001 | $ 0.001 | |
Common stock, subject to forfeiture (in shares) | 3,300 | 11,000 | |
Common stock warrants price per share (in USD per share) | $ 14.05 | ||
Common Stock | |||
Class of Warrant or Right [Line Items] | |||
Common stock warrants (in shares) | 1,281,358 |
Related-Party Transactions - Ad
Related-Party Transactions - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Public Company with a Common Director | |||
Related Party Transaction [Line Items] | |||
Revenue from product and service sales to related parties | $ 100,000 | $ 1,100,000 | $ 200,000 |
Gaas Labs Llc | |||
Related Party Transaction [Line Items] | |||
Minimum service requirements or payment obligations | $ 0 | ||
Notice period to terminate agreement | 30 days | ||
Revenue from product and service sales to related parties | $ 100,000 | $ 0 | $ 100,000 |
Discontinued Operations - Addit
Discontinued Operations - Additional information (Detail) - USD ($) | Aug. 17, 2015 | Sep. 30, 2015 | Oct. 02, 2015 | Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Cash proceeds from sale of assets | $ 0 | $ 81,208,000 | $ 12,345,000 | |||
Gain (loss) on sale of business | 7,500,000 | 63,256,000 | 0 | |||
Discontinued Operations, Disposed of by Sale | Automotive Business | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Cash consideration on sale of business | $ 82,100,000 | |||||
Cash consideration on sale of business, amounts payable from counterparty | $ 18,000,000 | |||||
Cash consideration on sale of business, period for cash payables due | 18 months | |||||
Gain on sale | $ 61,800,000 | 308,000 | 61,771,000 | 0 | ||
Discontinued Operations, Disposed of by Sale | Automotive Business | Maximum | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Additional cash proceeds to be received from revenue-based earnout | $ 30,000,000 | |||||
Discontinued Operations, Disposed of by Sale | Consulting Agreement | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Non-design advisory services period | 2 years | |||||
Discontinued Operations, Disposed of by Sale | Consulting Agreement | Maximum | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Cash consideration on sale of business | $ 15,000,000 | |||||
Discontinued Operations, Disposed of by Sale | Mindspeed Wireless Business | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Cash proceeds from sale of assets | 12,300,000 | |||||
Gain on sale | $ 1,600,000 | $ 0 | $ 1,550,000 | 0 | ||
Discontinued Operations, Disposed of by Sale | Product Line | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Cash proceeds from sale of assets | 12,000,000 | |||||
Gain (loss) on sale of business | $ 0 |
Discontinued Operations - Summa
Discontinued Operations - Summary of Operating Results Through Dates of Divestiture Related to Divested Businesses (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2015 | Sep. 30, 2016 | Jul. 01, 2016 | Apr. 01, 2016 | Jan. 01, 2016 | Oct. 02, 2015 | Jul. 03, 2015 | Apr. 03, 2015 | Jan. 02, 2015 | Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Operating expenses: | ||||||||||||
Income (loss) from discontinued operations | $ 1,228 | $ 1,199 | $ 1,396 | $ 1,199 | $ 40,564 | $ 6,271 | $ 3,639 | $ 3,657 | $ 5,022 | $ 54,131 | $ 9,491 | |
Cashflow from Investing Activities | 7,500 | 0 | 0 | |||||||||
Discontinued Operations, Disposed of by Sale | Automotive Business | ||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
Revenue | 0 | 71,712 | 79,473 | |||||||||
Cost of revenue | 0 | 46,931 | 51,425 | |||||||||
Gross profit | 0 | 24,781 | 28,048 | |||||||||
Operating expenses: | ||||||||||||
Research and development | 0 | 2,319 | 2,334 | |||||||||
Selling, general and administrative | 0 | 2,441 | 3,586 | |||||||||
Restructuring charges | 0 | 0 | 0 | |||||||||
Total operating expenses | 0 | 4,760 | 5,920 | |||||||||
Income from discontinued operations | 0 | 20,021 | 22,128 | |||||||||
Other income | 7,500 | 4,000 | 0 | |||||||||
Gain on sale | $ 61,800 | 308 | 61,771 | 0 | ||||||||
Income (loss) before income taxes | 7,808 | 85,792 | 22,128 | |||||||||
Income tax provision (benefit) | 2,786 | 32,652 | 8,032 | |||||||||
Income (loss) from discontinued operations | 5,022 | 53,140 | 14,096 | |||||||||
Above includes depreciation & amortization of | 0 | 189 | 302 | |||||||||
Cashflow from Operating Activities | 0 | (9,513) | 16,945 | |||||||||
Cashflow from Investing Activities | 7,500 | (505) | (275) | |||||||||
Discontinued Operations, Disposed of by Sale | Mindspeed Wireless Business | ||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
Revenue | 0 | 0 | 2,439 | |||||||||
Cost of revenue | 0 | 0 | 1,249 | |||||||||
Gross profit | 0 | 0 | 1,190 | |||||||||
Operating expenses: | ||||||||||||
Research and development | 0 | 0 | 4,531 | |||||||||
Selling, general and administrative | 0 | 0 | 1,078 | |||||||||
Restructuring charges | 0 | 0 | 2,962 | |||||||||
Total operating expenses | 0 | 0 | 8,571 | |||||||||
Income from discontinued operations | 0 | 0 | (7,381) | |||||||||
Other income | 0 | 0 | 0 | |||||||||
Gain on sale | $ 1,600 | 0 | 1,550 | 0 | ||||||||
Income (loss) before income taxes | 0 | 1,550 | (7,381) | |||||||||
Income tax provision (benefit) | 0 | 559 | (2,776) | |||||||||
Income (loss) from discontinued operations | 0 | 991 | (4,605) | |||||||||
Above includes depreciation & amortization of | 0 | 0 | 0 | |||||||||
Cashflow from Operating Activities | 0 | 991 | (4,605) | |||||||||
Cashflow from Investing Activities | $ 0 | $ 0 | $ 0 |
Earnings Per Share - Computatio
Earnings Per Share - Computation for Basic and Diluted Net Income (Loss) Per Share of Common Stock (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2016 | Jul. 01, 2016 | Apr. 01, 2016 | Jan. 01, 2016 | Oct. 02, 2015 | Jul. 03, 2015 | Apr. 03, 2015 | Jan. 02, 2015 | Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Numerator: | |||||||||||
Income (loss) from continuing operations | $ 3,874 | $ 21,353 | $ (12,045) | $ (16,770) | $ 13,841 | $ 1,756 | $ (11,176) | $ (9,963) | $ (3,588) | $ (5,542) | $ (24,814) |
Income (loss) from discontinued operations | $ 1,228 | 1,199 | $ 1,396 | $ 1,199 | 40,564 | 6,271 | $ 3,639 | $ 3,657 | 5,022 | 54,131 | 9,491 |
Net income (loss) | 1,434 | 48,589 | (15,323) | ||||||||
Warrant liability gain | $ 15,300 | $ 9,700 | $ 500 | 0 | 0 | 0 | |||||
Net income (loss) attributable to common stockholders | $ 1,434 | $ 48,589 | $ (15,323) | ||||||||
Denominator: | |||||||||||
Weighted average common shares outstanding-basic (in shares) | 53,364 | 51,146 | 47,009 | ||||||||
Dilutive effect of options and warrants (in shares) | 0 | 0 | 0 | ||||||||
Weighted average common shares outstanding-diluted (in shares) | 53,364 | 51,146 | 47,009 | ||||||||
Basic income (loss) per share: | |||||||||||
Continuing operations (in USD per share) | $ 0.07 | $ 0.40 | $ (0.23) | $ (0.32) | $ 0.26 | $ 0.03 | $ (0.22) | $ (0.21) | $ (0.07) | $ (0.11) | $ (0.53) |
Discontinued operations (in USD per share) | 0.09 | 1.06 | 0.20 | ||||||||
(Loss) income per share-basic (in USD per share) | 0.03 | 0.95 | (0.33) | ||||||||
Diluted income (loss) per share: | |||||||||||
Continuing operations (in USD per share) | $ 0.07 | $ 0.11 | $ (0.23) | $ (0.32) | $ 0.08 | $ 0.03 | $ (0.22) | $ (0.21) | (0.07) | (0.11) | (0.53) |
Discontinued operations (in USD per share) | 0.09 | 1.06 | 0.20 | ||||||||
(Loss) income per share-diluted (in USD per share) | $ 0.03 | $ 0.95 | $ (0.33) |
Earnings Per Share - Common Equ
Earnings Per Share - Common Equivalent Shares Excluded from Calculation from Net Income Per Share (Detail) - shares | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Earnings Per Share [Abstract] | |||
Antidilutive securities excluded from earnings per share (in shares) | 1,855 | 2,056 | 1,408 |
Supplemental Cash Flow Infor107
Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Business Acquisition [Line Items] | |||
Unpaid amounts related to purchase of assets | $ 0.8 | $ 3.2 | |
Mindspeed Acquisition | |||
Business Acquisition [Line Items] | |||
Assumed indebtedness | $ 40.2 |
Supplemental Cash Flow Infor108
Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information Regarding Noncash Investing and Financing Activities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Supplemental Cash Flow Elements [Abstract] | |||
Cash paid for interest | $ 16,335 | $ 15,607 | $ 6,994 |
Cash paid (refunded) for income taxes | $ (373) | $ 22,676 | $ 4,668 |
Accumulated Other Comprehens109
Accumulated Other Comprehensive Income (Loss) - Summary of Accumulated Other Comprehensive Income, Net of Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Beginning balance | $ 424,533 | $ 228,567 |
Ending balance | 462,784 | 424,533 |
Foreign currency translation adjustment | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Beginning balance | (2,182) | (1,264) |
Other comprehensive income | 11,320 | (918) |
Ending balance | 9,138 | (2,182) |
Other items | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Beginning balance | (97) | (90) |
Ending balance | (99) | (97) |
Total | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Beginning balance | (2,279) | (1,354) |
Ending balance | 9,039 | (2,279) |
Other adjustment, net of tax | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Other comprehensive income | 90 | |
Unrealized gain/loss on short term investments | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Other comprehensive income | $ (2) | $ (97) |
Geographic and Significant C110
Geographic and Significant Customer Information - Summary of Different Geographic Regions (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2016 | Jul. 01, 2016 | Apr. 01, 2016 | Jan. 01, 2016 | Oct. 02, 2015 | Jul. 03, 2015 | Apr. 03, 2015 | Jan. 02, 2015 | Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||
Revenue | $ 152,697 | $ 142,288 | $ 133,579 | $ 115,774 | $ 112,564 | $ 109,058 | $ 102,431 | $ 96,556 | $ 544,338 | $ 420,609 | $ 339,189 |
Long-lived assets | 99,167 | 83,759 | 99,167 | 83,759 | |||||||
United States | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 155,998 | 152,974 | 134,436 | ||||||||
Long-lived assets | 79,832 | 72,617 | 79,832 | 72,617 | |||||||
Asia Pacific | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 346,670 | 231,369 | 148,141 | ||||||||
Long-lived assets | 16,614 | 8,740 | 16,614 | 8,740 | |||||||
Other Countries | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 41,670 | 36,266 | $ 56,612 | ||||||||
Long-lived assets | $ 2,721 | $ 2,402 | $ 2,721 | $ 2,402 |
Geographic and Significant C111
Geographic and Significant Customer Information - Summary of Customer Concentrations as Percentage of Total Sales and Accounts Receivable (Detail) - Customer Concentration Risk | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Total Sales | |||
Segment Reporting Information [Line Items] | |||
Concentration risk, percentage | 62.00% | 57.00% | 52.00% |
Total Sales | Customer A | |||
Segment Reporting Information [Line Items] | |||
Concentration risk, percentage | 15.00% | 8.00% | 4.00% |
Total Sales | Customer B | |||
Segment Reporting Information [Line Items] | |||
Concentration risk, percentage | 12.00% | 12.00% | 10.00% |
Total Sales | Customer C | |||
Segment Reporting Information [Line Items] | |||
Concentration risk, percentage | 11.00% | 18.00% | 19.00% |
Accounts Receivable | Customer A | |||
Segment Reporting Information [Line Items] | |||
Concentration risk, percentage | 11.00% | 14.00% | |
Accounts Receivable | Customer B | |||
Segment Reporting Information [Line Items] | |||
Concentration risk, percentage | 16.00% | 10.00% | |
Accounts Receivable | Customer C | |||
Segment Reporting Information [Line Items] | |||
Concentration risk, percentage | 11.00% | 22.00% |
Geographic and Significant C112
Geographic and Significant Customer Information - Additional Information (Detail) | 12 Months Ended | ||
Sep. 30, 2016segmentcustomer | Oct. 02, 2015customer | Oct. 03, 2014customer | |
Segment Reporting Information [Line Items] | |||
Number of reportable operating segments | segment | 1 | ||
Total Revenue | Customer Concentration Risk | |||
Segment Reporting Information [Line Items] | |||
Number of major customers | customer | 10 | 10 | 10 |
Concentration risk, percentage | 62.00% | 57.00% | 52.00% |
Quarterly Financial Data - Sche
Quarterly Financial Data - Schedule of Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2016 | Jul. 01, 2016 | Apr. 01, 2016 | Jan. 01, 2016 | Oct. 02, 2015 | Jul. 03, 2015 | Apr. 03, 2015 | Jan. 02, 2015 | Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenue | $ 152,697 | $ 142,288 | $ 133,579 | $ 115,774 | $ 112,564 | $ 109,058 | $ 102,431 | $ 96,556 | $ 544,338 | $ 420,609 | $ 339,189 |
Gross profit | 81,804 | 73,962 | 65,525 | 60,318 | 56,961 | 52,496 | 46,714 | 47,419 | 281,609 | 203,590 | 140,940 |
Income (loss) from continuing operations | 3,874 | 21,353 | (12,045) | (16,770) | 13,841 | 1,756 | (11,176) | (9,963) | (3,588) | (5,542) | (24,814) |
Income (loss) from discontinued operations | $ 1,228 | $ 1,199 | $ 1,396 | $ 1,199 | $ 40,564 | $ 6,271 | $ 3,639 | $ 3,657 | $ 5,022 | $ 54,131 | $ 9,491 |
Per share data | |||||||||||
Income (loss) from continuing operations (in USD per share) | $ 0.07 | $ 0.40 | $ (0.23) | $ (0.32) | $ 0.26 | $ 0.03 | $ (0.22) | $ (0.21) | $ (0.07) | $ (0.11) | $ (0.53) |
Income (loss) from discontinued operations (in USD per share) | 0.02 | 0.02 | 0.03 | 0.02 | 0.76 | 0.12 | 0.07 | 0.08 | 0.09 | 1.06 | 0.20 |
Per share data | |||||||||||
Income (loss) from continuing operations (in USD per share) | 0.07 | 0.11 | (0.23) | (0.32) | 0.08 | 0.03 | (0.22) | (0.21) | (0.07) | (0.11) | (0.53) |
Income (loss) from discontinued operations (in USD per share) | $ 0.02 | $ 0.02 | $ 0.03 | $ 0.02 | $ 0.74 | $ 0.11 | $ 0.07 | $ 0.08 | $ 0.09 | $ 1.06 | $ 0.20 |
Warrant liability gain | $ 15,300 | $ 9,700 | $ 500 | $ 0 | $ 0 | $ 0 |
Subsequent Events- Narrative (D
Subsequent Events- Narrative (Details) - Forecast - Subsequent Event $ in Thousands | Nov. 16, 2016USD ($) |
Purchase and sale agreement, corporate headquarters | |
Subsequent Event [Line Items] | |
Proceeds from purchase and sale agreement | $ 4,250 |
Purchase and sale agreement, construction improvements | |
Subsequent Event [Line Items] | |
Proceeds from purchase and sale agreement | $ 4,000 |
Purchase and sale agreement, corporate headquarters and construction improvements for corporate headquarters | |
Subsequent Event [Line Items] | |
Lease term | 20 years |
Depreciation period | 20 years |