| Significant Accounting Policies [Text Block] | 1. Summary of Significant Accounting Policies Basis of Presentation Our fiscal years are based on a 52 53 December. December 26, 2020, March 27, 2021, ( first 2021” first three 2021” March 28, 2020, ( first 2020” first three 2020” first 2021 2020 13 Our interim results are not December 26, 2020, 2020 10 All significant consolidated transactions and balances have been eliminated in consolidation. Concentration of Credit Risk Financial instruments that potentially subject us to significant credit risk consist principally of cash equivalents, short-term investments and trade accounts receivable. We invest in a variety of financial instruments and, by policy, limit the amount of credit exposure with any one Our trade accounts receivable are presented net of allowance for credit losses, which is determined in accordance with the guidance provided by Accounting Standards Codification (“ASC”) Topic 326, Financial Instruments-Credit Losses, 326” March 27, 2021 December 26, 2020 March 27, 2021, 19 may Inventories Inventories are stated at the lower of cost, determined on a first first Inventories by category were as follows ( in thousands March 27, December 26, 2021 2020 Raw materials and purchased parts $ 90,890 $ 83,755 Work in process 54,247 44,315 Finished goods 15,734 14,430 Total inventories $ 160,871 $ 142,500 Property, Plant and Equipment Depreciation and amortization of property, plant and equipment, both owned and under financing lease, is calculated principally on the straight-line method based on estimated useful lives of thirty forty five fifteen three ten not Property, plant and equipment, at cost, consisted of the following (in thousands) March 27, December 26, 2021 2020 Land and land improvements $ 7,934 $ 8,141 Buildings and building improvements 40,247 41,153 Machinery and equipment 64,599 65,342 112,780 114,636 Less accumulated depreciation and amortization (47,004 ) (47,720 ) Property, plant and equipment, net $ 65,776 $ 66,916 Cloud Computing Implementation Costs We have capitalized certain costs associated with the implementation of our new cloud-based Enterprise Resource Planning (“ERP”) system in accordance with ASC Topic 350, Intangibles Goodwill and Other, 350” Unamortized capitalized cloud computing implementation costs totaled $12.7 million and $13.5 million at March 27, 2021 December 26, 2020, first 2021. first 2020 seven three March 27, 2021 March 28, 2020, Segment Information We applied the provisions of ASC Topic 280, Segment Reporting 280” four 280 two Goodwill and Indefinite-Lived Intangibles, Other Intangible Assets and Long-lived Assets We evaluate goodwill and other indefinite-lived intangible assets, which are solely comprised of in-process research and development (“IPR&D”), for impairment annually and when an event occurs or circumstances change that indicate that the carrying value may not first second not We conduct our annual impairment test as of October 1st October 1, 2020, may During the first 2020, 19 March 28, 2020 no three March 28, 2020, 19 Long-lived assets, other than goodwill, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not may not not During the first 2021, no Product Warranty Product warranty costs are accrued in the period sales are recognized. Our products are generally sold with standard warranty periods, which differ by product, ranging from 12 to 36 months. Parts and labor are typically covered under the terms of the warranty agreement. Our warranty expense accruals are based on historical and estimated costs by product and configuration. From time-to-time we offer customers extended warranties beyond the standard warranty period. In those situations, the revenue relating to the extended warranty is deferred at its estimated fair value and recognized on a straight-line basis over the contract period. Costs associated with our extended warranty contracts are expensed as incurred. Restructuring Costs We record restructuring activities including costs for one 420 420” Exit or Disposal Cost Obligations. 420 712, Nonretirement Postemployment Benefits. 4, Debt Issuance Costs We capitalize costs related to the issuance of debt. Debt issuance costs that were directly related to our Term Loan B are presented within noncurrent liabilities as a reduction of long-term debt in our condensed consolidated balance sheets. The amortization of such costs is recognized as interest expense using the effective interest method over the term of the respective debt issue. Amortization related to deferred debt issuance costs and original discount costs was $0.3 million for both the three March 27, 2021 March 28, 2020. Foreign Remeasurement and Currency Translation Assets and liabilities of our wholly owned foreign subsidiaries that use the U.S. Dollar as their functional currency are re-measured using exchange rates in effect at the end of the period, except for nonmonetary assets, such as inventories and property, plant and equipment, which are re-measured using historical exchange rates. Revenues and costs are re-measured using average exchange rates for the period, except for costs related to those balance sheet items that are re-measured using historical exchange rates. Gains and losses on foreign currency transactions are recognized as incurred. Certain of our foreign subsidiaries have designated the local currency as their functional currency and, as a result, their assets and liabilities are translated at the rate of exchange at the balance sheet date, while revenue and expenses are translated using the average exchange rate for the period. During the three March 27, 2021, three March 28, 2020, Certain of our foreign subsidiaries have designated the local currency as their functional currency and, as a result, their assets and liabilities are translated at the rate of exchange at the balance sheet date, while revenue and expenses are translated using the average exchange rate for the period. Cumulative translation adjustments resulting from the translation of the financial statements are included as a separate component of stockholders’ equity. Foreign Exchange Derivative Contracts We operate and sell our products in various global markets. As a result, we are exposed to changes in foreign currency exchange rates. We enter into foreign currency forward contracts with a financial institution to hedge against future movements in foreign exchange rates that affect certain existing U.S. Dollar denominated assets and liabilities at our subsidiaries whose functional currency is the local currency. Under this program, our strategy is to have increases or decreases in our foreign currency exposures mitigated by gains or losses on the foreign currency forward contracts in order to mitigate the risks and volatility associated with foreign currency transaction gains or losses. We do not not 7, Share-Based Compensation We measure and recognize all share-based compensation under the fair value method. Our estimate of share-based compensation expense requires a number of complex and subjective assumptions including our stock price volatility, employee exercise patterns (expected life of the options) and related tax effects. The assumptions used in calculating the fair value of share-based awards represent our best estimates, but these estimates involve inherent uncertainties and the application of management judgment. Although we believe the assumptions and estimates we have made are reasonable and appropriate, changes in assumptions could materially impact our reported financial results. Reported share-based compensation is classified, in the condensed consolidated interim financial statements, as follows (in thousands) Three Months Ended March 27, March 28, 2021 2020 Cost of sales $ 262 $ 212 Research and development 781 833 Selling, general and administrative 2,480 2,566 Total share-based compensation 3,523 3,611 Income tax benefit (234 ) (172 ) Total share-based compensation, net $ 3,289 $ 3,439 Income (Loss) Per Share Basic income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted income (loss) per share includes the dilutive effect of common shares potentially issuable upon the exercise of stock options, vesting of outstanding restricted stock and performance stock units and issuance of stock under our employee stock purchase plan using the treasury stock method. In loss periods, potentially dilutive securities are excluded from the per share computations due to their anti-dilutive effect. For purposes of computing diluted income per share, stock options with exercise prices that exceed the average fair market value of our common stock for the period are excluded. For the three March 27, 2021, three March 28, 2020, The following table reconciles the denominators used in computing basic and diluted income (loss) per share (in thousands) Three Months Ended March 27, March 28, 2021 2020 Weighted average common shares 43,756 41,502 Effect of dilutive securities 1,726 - 45,482 41,502 For the three March 28, 2020 Leases We determine if a contract contains a lease at inception. Operating leases are included in operating lease right of use (“ROU”) assets, current other accrued liabilities, and long-term lease liabilities on our condensed consolidated balance sheets. Finance leases are included in property, plant and equipment, other current accrued liabilities, and long-term lease liabilities on our condensed consolidated balance sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the adoption date or the commencement date for leases entered into after the adoption date. As most of our leases do not The operating lease ROU asset also includes any lease payments made, lease incentives, favorable and unfavorable lease terms recognized in business acquisitions and excludes initial direct costs incurred and variable lease payments. Variable lease payments include estimated payments that are subject to reconciliations throughout the lease term, increases or decreases in the contractual rent payments, as a result of changes in indices or interest rates and tax payments that are based on prevailing rates. Our lease terms may Leases with an initial term of 12 not We sublease certain leased assets to third None Revenue Recognition Our net sales are derived from the sale of products and services and are adjusted for estimated returns and allowances, which historically have been insignificant. We recognize revenue when the obligations under the terms of a contract with our customers are satisfied; generally, this occurs with the transfer of control of our systems, non-system products or services. In circumstances where control is not Revenue for established products that have previously satisfied a customer’s acceptance requirements is generally recognized upon shipment. In cases where a prior history of customer acceptance cannot be demonstrated or from sales where customer payment dates are not Certain of our equipment sales have multiple performance obligations. These arrangements involve the delivery or performance of multiple performance obligations, and transfer of control of performance obligations may Unsatisfied performance obligations primarily represent contracts for products with future delivery dates. At March 27, 2021, one 606, not one We generally sell our equipment with a product warranty. The product warranty provides assurance to customers that delivered products are as specified in the contract (an “assurance-type warranty”). Therefore, we account for such product warranties under ASC 460, Guarantees 460 not The transaction price reflects our expectations about the consideration we will be entitled to receive from the customer and may not not Our contracts are typically less than one 606 one Accounts receivable represents our unconditional right to receive consideration from our customer. Payments terms do not one not no no On shipments where sales are not March 27, 2021, one December 26, 2020, one Net sales of our reportable segments, by type, are as follows (in thousands): Three Months Ended Disaggregated Net Sales March 27, 2021 March 28, 2020 Systems: Semiconductor Test & Inspection $ 138,159 $ 70,539 PCB Test 8,620 6,840 Non-systems: Semiconductor Test & Inspection 74,247 57,474 PCB Test 4,462 4,068 Total net sales $ 225,488 $ 138,921 Revenue by geographic area based upon product shipment destination (in thousands Three Months Ended Disaggregated Net Sales March 27, 2021 March 28, 2020 China $ 54,265 $ 30,811 Philippines 33,754 10,022 Taiwan 32,196 13,881 Malaysia 23,259 15,174 United States 20,059 19,078 Rest of the World 61,955 49,955 Total net sales $ 225,488 $ 138,921 A small number of customers historically have been responsible for a significant portion of our net sales. Significant customer concentration information, by reportable segment, is as follows: Three Months Ended March 27, March 28, 2021 2020 Semiconductor Test & Inspection Customers individually accounting for more than 10% of net sales * two Percentage of net sales * 26% PCB Test Customers individually accounting for more than 10% of net sales * * Percentage of net sales * * * No 10% Accumulated Other Comprehensive Loss Our accumulated other comprehensive loss balance totaled approximately $14.8 million and $4.3 million at March 27, 2021 December 26, 2020, not first three 2021 2020 not Retiree Medical Benefits We provide post-retirement health benefits to certain retired executives, one no first three 2021 2020 not Discontinued Operations Management determined that the fixtures services business, that was acquired as part of Xcerra, did not February 2020. 12, New Accounting Pronouncements There have been no 10 December 26, 2020. |
