Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Dec. 31, 2013 | Jan. 24, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'APPLIED MICRO CIRCUITS CORP | ' |
Entity Central Index Key | '0000711065 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 74,177,049 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Current assets: | ' | ' | |
Cash and cash equivalents | $23,630 | $19,065 | [1] |
Short-term investments-available-for-sale | 50,654 | 66,411 | [1] |
Accounts receivable, net | 28,800 | 24,575 | [1] |
Inventories | 10,482 | 12,900 | [1] |
Assets held for sale | 14,260 | 0 | |
Other current assets | 17,829 | 17,998 | [1] |
Total current assets | 145,655 | 140,949 | [1] |
Property and equipment, net | 20,172 | 34,391 | [1] |
Goodwill | 11,425 | 13,183 | [1] |
Purchased intangibles | 167 | 11,991 | [1] |
Other assets | 7,842 | 10,866 | [1] |
Total assets | 185,261 | 211,380 | [1] |
Current liabilities: | ' | ' | |
Accounts payable | 13,210 | 17,650 | [1] |
Accrued payroll and related expenses | 6,398 | 6,158 | [1] |
Veloce accrued liability | 57,960 | 78,082 | [1] |
Other accrued liabilities | 11,178 | 10,730 | [1] |
Deferred revenue | 888 | 1,469 | [1] |
Total current liabilities | 89,634 | 114,089 | [1] |
Veloce and other non-current liabilities | 3,511 | 15,787 | [1] |
Commitments and contingencies (Note 7) | ' | ' | [1] |
Stockholders’ equity: | ' | ' | |
Preferred stock, $0.01 par value: Authorized shares - 2,000, none issued and outstanding | 0 | 0 | [1] |
Common stock, $0.01 par value: Authorized shares - 375,000 at December 31, 2013 and March 31, 2013; Issued and outstanding shares - 74,171 at December 31, 2013 and 67,952 at March 31, 2013 | 740 | 680 | [1] |
Additional paid-in capital | 5,971,775 | 5,926,630 | [1] |
Accumulated other comprehensive loss | -6,518 | -737 | [1] |
Accumulated deficit | -5,873,881 | -5,845,069 | [1] |
Total stockholders’ equity | 92,116 | 81,504 | [1] |
Total liabilities and stockholders’ equity | $185,261 | $211,380 | [1] |
[1] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 375,000,000 | 375,000,000 |
Common stock, shares issued | 74,171,000 | 67,952,000 |
Common stock, shares outstanding | 74,171,000 | 67,952,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Net revenues | $54,844 | $51,698 | $164,379 | $139,316 |
Cost of revenues | 21,644 | 22,958 | 65,383 | 61,874 |
Gross profit | 33,200 | 28,740 | 98,996 | 77,442 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 29,870 | 82,711 | 120,926 | 151,865 |
Selling, general and administrative | 10,930 | 12,675 | 29,602 | 38,676 |
Gain on sale of TPack | 0 | 0 | -19,699 | 0 |
Amortization | 62 | 338 | 254 | 1,589 |
Restructuring charges, net | 38 | 6,218 | 1,130 | 6,218 |
Total operating expenses | 40,900 | 101,942 | 132,213 | 198,348 |
Operating loss | -7,700 | -73,202 | -33,217 | -120,906 |
Interest income (expense), net | 525 | 892 | 4,679 | 3,316 |
Other income (expense), net | 92 | 1,366 | 309 | 1,539 |
Loss before income taxes | -7,083 | -70,944 | -28,229 | -116,051 |
Income tax expense | 201 | 618 | 581 | 458 |
Net loss | ($7,284) | ($71,562) | ($28,810) | ($116,509) |
Basic and diluted net loss per share (in dollars per share) | ($0.10) | ($1.08) | ($0.40) | ($1.81) |
Shares used in calculating basic and diluted net loss per share (in shares) | 73,989 | 66,113 | 71,986 | 64,489 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' | ||||
Net loss | ($7,284) | ($71,562) | ($28,810) | ($116,509) | ||||
Other comprehensive loss, net of tax: | ' | ' | ' | ' | ||||
Unrealized gain (loss) on investments | -179 | [1] | -659 | [1] | -5,404 | [1] | 196 | [1] |
Loss on foreign currency translation | -37 | -127 | -377 | -249 | ||||
Other comprehensive loss, net of tax | -216 | -786 | -5,781 | -53 | ||||
Total comprehensive loss | -7,500 | -72,348 | -34,591 | -116,562 | ||||
Reclassification adjustment from AOCI to earnings, short term investments | ($6) | ($207) | ($3,290) | ($1,401) | ||||
[1] | The amounts reclassified from accumulated other comprehensive loss and recorded in interest income (expense), net in the Condensed Consolidated Statement of Operations relating to short term investments were zero and $3.3 million for the three and nine months ended December 31, 2013, respectively, and $0.2 million and $1.4 million for the three and nine months ended December 31, 2012, respectively. Refer to Note 2, Certain Financial Statement Information, to the Condensed Consolidated Financial Statements for additional details. |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | |
Operating activities: | ' | ' | |
Net loss | ($28,810) | ($116,509) | |
Adjustments to reconcile net loss to net cash used for operating activities: | ' | ' | |
Depreciation | 7,728 | 7,247 | |
Amortization of purchased intangibles | 420 | 3,626 | |
Stock-based compensation expense: | ' | ' | |
Stock options | 1,985 | 3,024 | |
Restricted stock units | 11,445 | 18,521 | |
Warrants | 0 | 1,289 | |
Veloce accrued liability | 42,684 | 56,580 | |
Acquisition related adjustment | 0 | -133 | |
Gain on sale of TPack | -19,699 | 0 | |
Net loss (gain) on disposals of property, equipment and other assets | 27 | -1,296 | |
Non-cash restructuring costs | 298 | 4,689 | |
Tax effect on other comprehensive income | 0 | -130 | |
Changes in operating assets and liabilities: | ' | ' | |
Accounts receivable | -4,459 | 5,304 | |
Inventories | 2,415 | 9,387 | |
Assets held for sale | -14,260 | 0 | |
Other assets | 16,475 | -2,758 | |
Accounts payable | -4,423 | -3,907 | |
Accrued payroll and other accrued liabilities | 610 | 887 | |
Veloce accrued liability | -45,432 | -15,928 | |
Deferred revenue | -449 | -841 | |
Net cash used for operating activities | -33,445 | -30,948 | |
Investing activities: | ' | ' | |
Proceeds from sales and maturities of short-term investments | 26,594 | 35,367 | |
Purchases of short-term investments | -16,241 | -17,834 | |
Proceeds from sale of property, equipment and other assets | 20 | 1,800 | |
Purchase of property, equipment and other assets | -5,616 | -8,454 | |
Proceeds from sale of strategic equity investment | 1,286 | 7,146 | |
Purchases of strategic equity investment | 0 | -500 | |
Proceeds from the sale of TPack, net | -29,498 | 0 | |
Funding of a note receivable | 0 | -500 | |
Net cash provided by investing activities | 35,541 | 17,025 | |
Financing activities: | ' | ' | |
Proceeds from issuance of common stock | 8,582 | 5,841 | |
Funding of restricted stock units withheld for taxes | -5,518 | -2,773 | |
Repurchase of common stock | 0 | -653 | |
Payment of contingent consideration | 0 | -485 | |
Other | -595 | -389 | |
Net cash provided by financing activities | 2,469 | 1,541 | |
Net increase (decrease) in cash and cash equivalents | 4,565 | -12,382 | |
Cash and cash equivalents at beginning of year | 19,065 | [1] | 28,065 |
Cash and cash equivalents at end of period | 23,630 | 15,683 | |
Supplementary cash flow disclosures: | ' | ' | |
Cash paid for income taxes | 609 | 662 | |
Common stock issued for Veloce merger consideration | $29,209 | $15,956 | |
[1] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Basis of Presentation | ||
The Condensed Consolidated Financial Statements include all the accounts of AppliedMicro (the "Company") and its wholly-owned subsidiaries including Veloce Technologies Inc. (“Veloce”), which was consolidated in prior accounting periods prior to its merger with the Company, as a variable interest entity (“VIE”) since the Company was determined to be its primary beneficiary. On June 20, 2012, the Company completed the acquisition of Veloce which became a wholly owned subsidiary of the Company as of this date. See Note 4, Veloce, to the Condensed Consolidated Financial Statements. All significant intercompany balances and transactions have been eliminated in consolidation. | ||
Use of Estimates | ||
The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to its: | ||
• | capitalized mask sets including their useful lives, which affect cost of goods sold and property and equipment or Research and Development ("R&D") expenses, if not capitalized; | |
• | inventory valuation, warranty liabilities and revenue reserves, which affects cost of sales, gross margin, and revenues; | |
• | allowance for doubtful accounts, which affects operating expenses; | |
• | unrealized losses or other-than-temporary impairments of short-term investments available for sale, which affects interest income (expense), net; | |
• | valuation of purchased intangibles and goodwill, which affects amortization and impairments of purchased intangibles, impairments of goodwill and apportionment of goodwill related to divestitures; | |
• | Veloce accrued liability which considers: (i) estimating the total value of the expected Veloce consideration, (ii) determining the stage at which a milestone is deemed to be probable of attainment, (iii) the estimated progress towards achieving the milestone at the time such milestone was deemed probable of achievement and (iv) estimating the approximate timing of the expected completion of the milestones and related payments; | |
• | potential costs of litigation, which affects operating expenses; | |
• | valuation of deferred income taxes, which affects income tax expense (benefit); and | |
• | stock-based compensation, which affects gross margin and operating expenses. | |
The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from management’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. | ||
Recently Adopted Accounting Pronouncements | ||
In July 2013, the FASB issued Accounting Standards Update 2013-11 amending Income Taxes: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists that will require the presentation of certain unrecognized tax benefits as reductions to deferred tax assets rather than as liabilities in the condensed consolidated balance sheets when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments will be effective for interim and annual periods beginning after December 15, 2013; however, early adoption and retrospective application are permitted. The Company does not expect the adoption of these amendments to have a significant impact on the Company’s Consolidated Financial Statements. |
Certain_Financial_Statement_In
Certain Financial Statement Information | 9 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Certain Financial Statement Information [Abstract] | ' | ||||||||||||||||||||||||||||||||
CERTAIN FINANCIAL STATEMENT INFORMATION | ' | ||||||||||||||||||||||||||||||||
CERTAIN FINANCIAL STATEMENT INFORMATION | |||||||||||||||||||||||||||||||||
Accounts receivable: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Accounts receivable | $ | 29,281 | $ | 25,278 | |||||||||||||||||||||||||||||
Less: allowance for bad debts | (481 | ) | (703 | ) | |||||||||||||||||||||||||||||
$ | 28,800 | $ | 24,575 | ||||||||||||||||||||||||||||||
Inventories: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Finished goods | $ | 4,513 | $ | 7,247 | |||||||||||||||||||||||||||||
Work in process | 4,637 | 4,098 | |||||||||||||||||||||||||||||||
Raw materials | 1,332 | 1,555 | |||||||||||||||||||||||||||||||
$ | 10,482 | $ | 12,900 | ||||||||||||||||||||||||||||||
Assets held for sale: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Assets held for sale | $ | 14,260 | $ | — | |||||||||||||||||||||||||||||
As of December 31, 2013, the Company classified its headquarters building in Sunnyvale, California as assets held for sale in the Condensed Consolidated Balance Sheets at $14.3 million representing the carrying amount of the asset. In January 2014, the Company agreed to sell the headquarters building for a purchase price of $40.8 million in cash, subject to a limited set of certain closing conditions. See Note 9, Subsequent Events, to the Condensed Consolidated Financial Statements for details. | |||||||||||||||||||||||||||||||||
Other current assets: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Prepaid expenses | $ | 11,177 | $ | 13,762 | |||||||||||||||||||||||||||||
Executive deferred compensation assets | 1,157 | 693 | |||||||||||||||||||||||||||||||
Deposits | 653 | 828 | |||||||||||||||||||||||||||||||
Receivable from sale of strategic investment and TPack | 3,353 | 1,331 | |||||||||||||||||||||||||||||||
Other | 1,489 | 1,384 | |||||||||||||||||||||||||||||||
$ | 17,829 | $ | 17,998 | ||||||||||||||||||||||||||||||
Property and equipment: | |||||||||||||||||||||||||||||||||
Useful | December 31, | March 31, | |||||||||||||||||||||||||||||||
Life | 2013 | 2013 | |||||||||||||||||||||||||||||||
(In years) | (In thousands) | ||||||||||||||||||||||||||||||||
Machinery and equipment * | 7-May | $ | 44,887 | $ | 40,063 | ||||||||||||||||||||||||||||
Leasehold improvements ** | 15-Jan | 9,011 | 14,202 | ||||||||||||||||||||||||||||||
Computers, office furniture and equipment | 7-Mar | 43,992 | 43,485 | ||||||||||||||||||||||||||||||
Buildings ** | 31.5 | — | 2,756 | ||||||||||||||||||||||||||||||
Land ** | — | — | 9,800 | ||||||||||||||||||||||||||||||
97,890 | 110,306 | ||||||||||||||||||||||||||||||||
Less: accumulated depreciation and amortization | (77,718 | ) | (75,915 | ) | |||||||||||||||||||||||||||||
$ | 20,172 | $ | 34,391 | ||||||||||||||||||||||||||||||
* Includes capitalized mask costs. | |||||||||||||||||||||||||||||||||
** December 31, 2013 balances exclude $14.3 million, including land, building and leasehold improvements related to the Company's headquarters in Sunnyvale, California, which have been reclassified as assets held for sale and included under current assets. | |||||||||||||||||||||||||||||||||
Goodwill and purchased intangibles: | |||||||||||||||||||||||||||||||||
Goodwill is as follows: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Goodwill | $ | 11,425 | $ | 13,183 | |||||||||||||||||||||||||||||
The reduction in goodwill of $1.8 million relates to the sale of TPack. See Note 8, Sale of TPack A/S, to the Condensed Consolidated Financial Statements for details. | |||||||||||||||||||||||||||||||||
Purchase-related intangibles are as follows: | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Gross | Accumulated | Net | Weighted | Gross | Accumulated | Net | Weighted | ||||||||||||||||||||||||||
Amortization | average | Amortization | average | ||||||||||||||||||||||||||||||
and Impairments | remaining | and Impairments | remaining | ||||||||||||||||||||||||||||||
useful life | useful life | ||||||||||||||||||||||||||||||||
(In thousands) | (In years) | (In thousands) | (In years) | ||||||||||||||||||||||||||||||
Developed technology/in-process research and development | $ | 425,000 | $ | (425,000 | ) | $ | — | — | $ | 441,300 | $ | (431,771 | ) | $ | 9,529 | 3.5 | |||||||||||||||||
Customer relationships | 6,330 | (6,163 | ) | 167 | 0.7 | 12,830 | (10,507 | ) | 2,323 | 2.1 | |||||||||||||||||||||||
Patents/core technology rights/tradename | 62,306 | (62,306 | ) | — | — | 63,206 | (63,067 | ) | 139 | 0.3 | |||||||||||||||||||||||
$ | 493,636 | $ | (493,469 | ) | $ | 167 | $ | 517,336 | $ | (505,345 | ) | $ | 11,991 | ||||||||||||||||||||
During the quarter ended June 30, 2013, $11.4 million of purchased intangibles were written off pursuant to the sale of TPack. Please refer to Note 8, Sale of TPack A/S, to the Condensed Consolidated Financial Statements for further discussion. | |||||||||||||||||||||||||||||||||
As of December 31, 2013, the estimated future amortization expense of purchased intangible assets to be charged to operating expenses was as follows (in thousands): | |||||||||||||||||||||||||||||||||
Operating | |||||||||||||||||||||||||||||||||
Expenses | |||||||||||||||||||||||||||||||||
Fiscal Years Ending March 31, | |||||||||||||||||||||||||||||||||
2014 (remainder of year) | $ | 63 | |||||||||||||||||||||||||||||||
2015 | 104 | ||||||||||||||||||||||||||||||||
Total | $ | 167 | |||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Non-current portion of prepaid expenses | $ | 4,842 | $ | 7,866 | |||||||||||||||||||||||||||||
Strategic investments | 3,000 | 3,000 | |||||||||||||||||||||||||||||||
$ | 7,842 | $ | 10,866 | ||||||||||||||||||||||||||||||
Other accrued liabilities: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Employee related liabilities | $ | 1,902 | $ | 2,236 | |||||||||||||||||||||||||||||
Executive deferred compensation | 1,415 | 1,284 | |||||||||||||||||||||||||||||||
Income taxes | 1,254 | 903 | |||||||||||||||||||||||||||||||
Professional fees | 2,033 | 3,840 | |||||||||||||||||||||||||||||||
Other | 4,574 | 2,467 | |||||||||||||||||||||||||||||||
$ | 11,178 | $ | 10,730 | ||||||||||||||||||||||||||||||
Strategic Investments | |||||||||||||||||||||||||||||||||
The Company has entered into certain equity investments in privately held businesses to achieve certain strategic business objectives. The Company’s investments in equity securities of privately held businesses are accounted for under the cost method. Under the cost method, strategic investments in which the Company holds less than a 20% voting interest and in which the Company does not have the ability to exercise significant influence are carried at cost reduced by other-than-temporary impairments, as appropriate. These investments are included in other assets on the Company’s Condensed Consolidated Balance Sheets. The Company periodically reviews these investments for other-than-temporary declines in fair value based on the specific identification method and writes down investments when an other-than-temporary decline has occurred. During the nine months ended December 31, 2013 and 2012, the Company did not record any other-than-temporary impairment charges of its strategic investments and invested zero and $0.5 million, respectively, in non-marketable equity investments and these amounts are carried at adjusted cost. | |||||||||||||||||||||||||||||||||
Short-term investments: | |||||||||||||||||||||||||||||||||
The following is a summary of cash, cash equivalents and available-for-sale investments by type of instrument (in thousands): | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized | Estimated | Amortized | Gross Unrealized | Estimated | ||||||||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||||||
Cash | $ | 19,716 | $ | — | $ | — | $ | 19,716 | $ | 8,529 | $ | — | $ | — | $ | 8,529 | |||||||||||||||||
Cash equivalents | 3,914 | — | — | 3,914 | 10,536 | — | — | 10,536 | |||||||||||||||||||||||||
U.S. Treasury securities and agency bonds | 11,747 | 8 | (4 | ) | 11,751 | 12,363 | 10 | — | 12,373 | ||||||||||||||||||||||||
Corporate bonds | 15,482 | 56 | (4 | ) | 15,534 | 15,567 | 63 | (2 | ) | 15,628 | |||||||||||||||||||||||
Mortgage-backed and asset-backed securities* | 4,015 | 300 | (47 | ) | 4,268 | 3,655 | 355 | (7 | ) | 4,003 | |||||||||||||||||||||||
Closed-end bond funds | 14,374 | 2,261 | (818 | ) | 15,817 | 21,914 | 5,340 | (39 | ) | 27,215 | |||||||||||||||||||||||
Preferred stock | 2,406 | 878 | — | 3,284 | 4,878 | 2,314 | — | 7,192 | |||||||||||||||||||||||||
$ | 71,654 | $ | 3,503 | $ | (873 | ) | $ | 74,284 | $ | 77,442 | $ | 8,082 | $ | (48 | ) | $ | 85,476 | ||||||||||||||||
Reported as: | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 23,630 | $ | 19,065 | |||||||||||||||||||||||||||||
Short-term investments available-for-sale | 50,654 | 66,411 | |||||||||||||||||||||||||||||||
$ | 74,284 | $ | 85,476 | ||||||||||||||||||||||||||||||
* At December 31, 2013 and March 31, 2013, approximately $1.1 million and $1.4 million of the estimated fair value presented were mortgage-backed securities, respectively. | |||||||||||||||||||||||||||||||||
The established guidelines for measuring fair value and expanded disclosures regarding fair value measurements are defined as a three-level valuation hierarchy for disclosure of fair value measurements as follows: | |||||||||||||||||||||||||||||||||
Level 1 — Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. | |||||||||||||||||||||||||||||||||
Level 2 — Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. | |||||||||||||||||||||||||||||||||
Level 3 — Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Valuation of instruments includes unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. | |||||||||||||||||||||||||||||||||
The following is a summary of cash, cash equivalents and available-for-sale investments by type of instrument measured at fair value on a recurring basis (in thousands): | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Cash | $ | 19,716 | $ | — | $ | — | $ | 19,716 | $ | 8,529 | $ | — | $ | — | $ | 8,529 | |||||||||||||||||
Cash equivalents | 3,914 | — | — | 3,914 | 9,508 | 1,028 | — | 10,536 | |||||||||||||||||||||||||
U.S. Treasury securities and agency bonds | 11,596 | 155 | — | 11,751 | 12,373 | — | — | 12,373 | |||||||||||||||||||||||||
Corporate bonds | — | 15,534 | — | 15,534 | — | 15,628 | — | 15,628 | |||||||||||||||||||||||||
Mortgage-backed and asset-backed securities | — | 4,268 | — | 4,268 | — | 4,003 | — | 4,003 | |||||||||||||||||||||||||
Closed-end bond funds | 15,817 | — | — | 15,817 | 27,215 | — | — | 27,215 | |||||||||||||||||||||||||
Preferred stock | — | 3,284 | — | 3,284 | — | 7,192 | — | 7,192 | |||||||||||||||||||||||||
$ | 51,043 | $ | 23,241 | $ | — | $ | 74,284 | $ | 57,625 | $ | 27,851 | $ | — | $ | 85,476 | ||||||||||||||||||
There were no significant transfers in and out of Level 1 and Level 2 fair value measurement categories during the three and nine months ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
The following is a summary of the cost and estimated fair values of available-for-sale securities with stated maturities, which include U.S. Treasury securities and agency bonds, corporate bonds and mortgage-backed and asset-backed securities, by contractual maturity (in thousands): | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Cost | Estimated Fair Value | Cost | Estimated Fair Value | ||||||||||||||||||||||||||||||
Less than 1 year | $ | 7,259 | $ | 7,411 | $ | 9,205 | $ | 9,217 | |||||||||||||||||||||||||
Mature in 1 – 2 years | 22,341 | 22,369 | 19,843 | 20,040 | |||||||||||||||||||||||||||||
Mature in 3 – 5 years | 707 | 771 | 1,575 | 1,649 | |||||||||||||||||||||||||||||
Mature after 5 years | 937 | 1,002 | 962 | 1,098 | |||||||||||||||||||||||||||||
$ | 31,244 | $ | 31,553 | $ | 31,585 | $ | 32,004 | ||||||||||||||||||||||||||
The following is a summary of gross unrealized losses as of (in thousands): | |||||||||||||||||||||||||||||||||
Less Than 12 Months of | 12 Months or More of | Total | |||||||||||||||||||||||||||||||
Unrealized Losses | Unrealized Losses | ||||||||||||||||||||||||||||||||
As of December 31, 2013 | Estimated | Gross | Estimated | Gross | Estimated | Gross | |||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
U.S. Treasury securities and agency bonds | $ | 2,566 | $ | (4 | ) | $ | — | $ | — | $ | 2,566 | $ | (4 | ) | |||||||||||||||||||
Corporate bonds | 2,811 | (4 | ) | — | — | 2,811 | (4 | ) | |||||||||||||||||||||||||
Mortgage-backed and asset-backed securities | 1,451 | (47 | ) | 6 | — | 1,457 | (47 | ) | |||||||||||||||||||||||||
Closed-end bond funds | 6,344 | (721 | ) | 377 | (97 | ) | 6,721 | (818 | ) | ||||||||||||||||||||||||
$ | 13,172 | $ | (776 | ) | $ | 383 | $ | (97 | ) | $ | 13,555 | $ | (873 | ) | |||||||||||||||||||
Less Than 12 Months of | 12 Months or More of | Total | |||||||||||||||||||||||||||||||
Unrealized Losses | Unrealized Losses | ||||||||||||||||||||||||||||||||
As of March 31, 2013 | Estimated | Gross | Estimated | Gross | Estimated | Gross | |||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
U.S. Treasury securities and agency bonds | $ | 300 | $ | — | $ | — | $ | — | $ | 300 | $ | — | |||||||||||||||||||||
Corporate bonds | 2,276 | (2 | ) | 113 | — | 2,389 | (2 | ) | |||||||||||||||||||||||||
Mortgage-backed and asset-backed securities | 647 | (3 | ) | — | (4 | ) | 647 | (7 | ) | ||||||||||||||||||||||||
Closed-end bond funds | — | — | 6,991 | (39 | ) | 6,991 | (39 | ) | |||||||||||||||||||||||||
$ | 3,223 | $ | (5 | ) | $ | 7,104 | $ | (43 | ) | $ | 10,327 | $ | (48 | ) | |||||||||||||||||||
Other-Than-Temporary Impairment | |||||||||||||||||||||||||||||||||
Based on an evaluation of securities that have been in a loss position, the Company did not recognize any other-than-temporary impairment charges for the three and nine months ended December 31, 2013 and 2012. The Company considered various factors which included a credit and liquidity assessment of the underlying securities and the Company’s intent and ability to hold the underlying securities until the estimated date of recovery of its amortized cost. As of December 31, 2013 and March 31, 2013, the Company also had $3.5 million and $8.1 million in gross unrealized gains, respectively. The basis for computing realized gains or losses is by specific identification. | |||||||||||||||||||||||||||||||||
Warranty reserves: | |||||||||||||||||||||||||||||||||
The Company's products typically carry a one year warranty. The Company establishes reserves for estimated product warranty costs at the time revenue is recognized. Although the Company engages in extensive product quality programs and processes, its warranty obligation is affected by product failure rates, use of materials and service delivery costs incurred in correcting any product failure. Should actual product failure rates, use of materials or service delivery costs differ from the Company's estimates, additional warranty reserves could be required which could reduce its gross margin. | |||||||||||||||||||||||||||||||||
The following table summarizes warranty reserve activity (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Beginning balance | $ | 187 | $ | 370 | $ | 220 | $ | 454 | |||||||||||||||||||||||||
Charged to costs of revenues | 54 | 96 | 28 | 311 | |||||||||||||||||||||||||||||
Cost incurred | (39 | ) | (108 | ) | (46 | ) | (407 | ) | |||||||||||||||||||||||||
Ending balance | $ | 202 | $ | 358 | $ | 202 | $ | 358 | |||||||||||||||||||||||||
Interest income (expense), net (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Interest income | $ | 519 | $ | 685 | $ | 1,389 | $ | 1,915 | |||||||||||||||||||||||||
Net realized gain on short-term investments | 6 | 207 | 3,290 | 1,401 | |||||||||||||||||||||||||||||
$ | 525 | $ | 892 | $ | 4,679 | $ | 3,316 | ||||||||||||||||||||||||||
Net loss per share: | |||||||||||||||||||||||||||||||||
Shares used in basic net loss per share are computed using the weighted average number of common shares outstanding during each period. Shares used in diluted net loss per share include the dilutive effect of common shares potentially issuable upon the exercise of stock options, vesting of RSUs and outstanding warrants. The reconciliation of shares used to calculate basic and diluted net loss per share consists of the following (in thousands, except per share data): | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Net loss | $ | (7,284 | ) | $ | (71,562 | ) | $ | (28,810 | ) | $ | (116,509 | ) | |||||||||||||||||||||
Shares used in net loss per share computation: | |||||||||||||||||||||||||||||||||
Weighted average common shares outstanding, basic | 73,989 | 66,113 | 71,986 | 64,489 | |||||||||||||||||||||||||||||
Net effect of dilutive common share equivalents | — | — | — | — | |||||||||||||||||||||||||||||
Weighted average common shares outstanding, diluted | 73,989 | 66,113 | 71,986 | 64,489 | |||||||||||||||||||||||||||||
Basic and diluted net loss per share | $ | (0.10 | ) | $ | (1.08 | ) | $ | (0.40 | ) | $ | (1.81 | ) | |||||||||||||||||||||
The effect of anti-dilutive securities (comprised of options and restricted stock units) totaling 3.8 million and 4.7 million equivalent shares for the three and nine months ended December 31, 2013, respectively, and 5.4 million and 8.7 million equivalent shares for the three and nine months ended December 31, 2012, respectively, have been excluded from the net loss per share computation, as their impact would be anti-dilutive. | |||||||||||||||||||||||||||||||||
The effect of dilutive securities (comprised of options and restricted stock units) totaling 1.8 million and 1.4 million shares for the three and nine months ended December 31, 2013, respectively, and 1.4 million and 0.7 million shares for the three and nine months ended December 31, 2012, respectively, have been excluded from the net loss per share computation, as their impact would be anti-dilutive because the Company incurred net losses in the periods presented. | |||||||||||||||||||||||||||||||||
Total equivalent shares excluded from the net loss per share computation are 5.6 million and 6.1 million for the three and nine months ended December 31, 2013, respectively, and 6.8 million and 9.4 million for the three and nine months ended December 31, 2012, respectively. |
Restructuring_Charges
Restructuring Charges | 9 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||
RESTRUCTURING CHARGES | ' | ||||||||||||
RESTRUCTURING CHARGES | |||||||||||||
The Company recognizes restructuring costs related to asset impairment and exit or disposal activities. Costs relating to facilities closure or lease commitments are recognized when the facility has been exited. Termination costs are recognized when the costs are deemed both probable and estimable. | |||||||||||||
December 2012 Restructuring Program | |||||||||||||
In December 2012, the Company implemented a restructuring program to reorganize its operations and reduced its workforce by approximately 70 employees. The plan included eliminating job redundancies, reducing the Company's workforce and impairing the unamortized value of a software intellectual property license, which the Company does not intend to use to develop new products. As of December 31, 2013, the actual annual savings were within the range of originally expected savings of $8.0 million to $9.0 million for headcount expenses and $4.0 million to $5.0 million for other additional operational expenses. Total costs incurred and expected to be incurred as of December 31, 2013 in connection with the restructuring plan are $1.8 million. | |||||||||||||
August 2013 Restructuring Program | |||||||||||||
In August 2013, the Company implemented a restructuring program to reorganize its operations and reduced its workforce by approximately 20 employees. The plan included eliminating job redundancies, reducing the Company's workforce and impairing the unamortized value of a software intellectual property license, which the Company no longer intends to use to develop new products. The Company anticipates that the restructuring plan will reduce ongoing headcount expenses by approximately $3.0 million annually and other additional operational expenses by $0.5 million annually. Total costs incurred and expected to be incurred as of December 31, 2013 in connection with the restructuring plan are $1.0 million. | |||||||||||||
The restructuring activity during the three and nine months ended December 31, 2013 relating to the December 2012 and August 2013 restructuring programs is as follows (in thousands): | |||||||||||||
Workforce Reduction | Asset Impairment | Total | |||||||||||
Liability, March 31, 2013 | $ | 548 | $ | — | $ | 548 | |||||||
Restructuring charges | 93 | — | $ | 93 | |||||||||
Cash payments | (334 | ) | — | $ | (334 | ) | |||||||
Liability, June 30, 2013 | 307 | — | 307 | ||||||||||
Restructuring charges | 727 | 272 | 999 | ||||||||||
Non-cash items | — | (272 | ) | (272 | ) | ||||||||
Cash payments | (847 | ) | — | (847 | ) | ||||||||
Liability, September 30, 2013 | $ | 187 | $ | — | $ | 187 | |||||||
Restructuring charges | 38 | — | 38 | ||||||||||
Cash payments | (225 | ) | — | (225 | ) | ||||||||
Liability, December 31, 2013 | — | — | — | ||||||||||
Veloce
Veloce | 9 Months Ended |
Dec. 31, 2013 | |
Variable Interest Entity, Measure of Activity [Abstract] | ' |
VELOCE | ' |
VELOCE | |
On June 20, 2012 (the “Closing Date”), the Company completed its acquisition of Veloce pursuant to the terms of the Agreement and Plan of Merger (the “Merger Agreement”). Veloce has been developing specific technology for the Company. | |
The terms of the Merger Agreement include the payment of the total consideration, payable to holders of Veloce common stock options that were vested on the Closing Date and holders of Veloce common stock and stock equivalents (collectively “Veloce Equity Holders”), and to Veloce stock equivalents that have not yet been allocated to individuals (“Unallocated Veloce Units”). The Merger Agreement further provides for payments of additional merger consideration contingent upon the achievement of certain post-closing product development milestones relating to the Veloce development project. | |
The total estimated consideration to be paid is based upon the benchmarks achieved during simulations that were performed during the third quarter of fiscal 2013 and correlation of the results of the simulations to the contractual terms included in the Merger Agreement. As a result of higher than expected benchmarks achieved during simulations, the total estimated consideration to be paid was updated during fiscal 2013 from a previous estimated maximum of approximately $135.0 million to the contractual maximum of $178.5 million. Significant judgment is required in assessing when a performance milestone is probable of achievement and estimating the percentage of completion of the milestone and the timing of when the performance milestones will be completed. These determinations are based on discussions with internal technical personnel that address various qualitative and quantitative factors, including, but not limited to, overall complexity associated with the assessment, stage of development, progress made to date, results of testing and consideration as to the nature of the remaining development work. | |
The Company has completed the first and second performance milestones and assessed the third and final performance milestone relating to the Veloce project as probable of achievement as of December 31, 2013. As of December 31, 2013, the Company assessed that all the effort required for the third milestone had been completed. The consideration relating to the three performance milestones, excluding the value allocated to the Unallocated Veloce Units, in the amount of $169.3 million, has been recognized as research and development expense through December 31, 2013 compared to $117.0 million as of December 31, 2012. During the three and nine months ended December 31, 2013, as part of the above arrangement, the Company paid approximately $1.2 million and $45.4 million, respectively, in cash and issued approximately 25,000 shares and 3.8 million shares, respectively, valued at approximately $0.2 million and $29.2 million, respectively. During the three and nine months ended December 31, 2012, as part of the above arrangement, the Company paid approximately $1.1 million and $15.9 million, respectively, in cash and issued approximately 0.2 million shares and 2.8 million shares, respectively, valued at approximately $1.1 million and $15.9 million, respectively. | |
The consideration that the Company will be obligated to pay will be allocated equally to each of the Veloce Equity Holders and the Unallocated Veloce Units. The Company is contractually required to distribute all Unallocated Veloce Units within a certain time period. During the three and nine months ended December 31, 2013, the Company distributed an additional 1,400 and 0.5 million Unallocated Veloce Units which had a related expense of $20,000 and $5.9 million, respectively. Veloce Equity Holders subject to vesting requirements will receive their distribution upon satisfaction of such vesting requirements. | |
For accounting purposes, the costs incurred in connection with the development milestones relating to Veloce are considered compensatory and are recognized as R&D expense. Recognition of these costs as expense occurred when certain development and performance milestones became probable of achievement and were deemed earned. However, the value allocated to the Unallocated Veloce Units will not be recognized as R&D expense until distribution of the underlying units occurs. As of December 31, 2013, 0.9 million Unallocated Veloce Units had not been allocated, and the maximum potential additional expense to be recognized associated with these Unallocated Veloce Units is approximately $9.2 million. | |
Total R&D expenses recognized related to Veloce were approximately $2.9 million and $42.7 million during the three and nine months ended December 31, 2013, respectively, and approximately $51.9 million and $56.6 million during the three and nine months ended December 31, 2012, respectively. The Veloce accrued liability included on the Condensed Consolidated Balance Sheets is based upon the amount of R&D expense recognized in connection with the development of the Veloce performance milestones less amounts paid either in cash or our common stock. Veloce consideration that has been accrued as of December 31, 2013 is classified as long-term if payments of the consideration are expected to occur beyond a 12 month period. |
Stockholders_Equity
Stockholders' Equity | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
STOCKHOLDERS' EQUITY | ' | ||||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||
Preferred Stock | |||||||||||||||||
The Certificate of Incorporation allows for the issuance of up to two million shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof, including dividend rights, dividend rates, conversion rights, voting rights, terms of redemption, redemption prices, liquidation preferences, and the number of shares constituting any series of the designation of such series, without further vote or action by the stockholders. At December 31, 2013, there are no preferred shares outstanding. | |||||||||||||||||
Common Stock | |||||||||||||||||
At December 31, 2013, the Company had 375.0 million shares authorized for issuance and approximately 74.2 million shares issued and outstanding. At March 31, 2013, there were approximately 68.0 million shares issued and outstanding. | |||||||||||||||||
Employee Stock Purchase Plan ("ESPP") | |||||||||||||||||
Under the Company's 1998 Employee Stock Purchase Plan ("1998 Plan"), the Company had 6.3 million shares reserved for issuance. In August 2012, the Company’s stockholders approved the proposal to reserve an additional 1.8 million shares under the 2012 Employee Stock Purchase Plan ("2012 Plan"). Upon adoption of the 2012 Plan, the 1998 Plan was terminated. Under the terms of the 2012 Plan, purchases are made semiannually and the purchase price of the common stock is equal to 85% of the fair market value of the common stock on the first or last day of the offering period, whichever is lower. During the nine months ended December 31, 2013 and 2012, 0.3 million and zero shares were issued under the 2012 plan, respectively. In addition, during the nine months ended December 31, 2012, 0.4 million shares were issued under the 1998 plan. At December 31, 2013, 0.8 million shares were available for future issuance from the 2012 Plan. | |||||||||||||||||
Stock Repurchase Program | |||||||||||||||||
In August 2004, the Board of Directors authorized a stock repurchase program for the repurchase of up to $200.0 million of the Company's common stock. Under the program, the Company is authorized to make purchases in the open market or enter into structured agreements. In October 2008, the Board of Directors increased the stock repurchase program by $100.0 million. There were no stock repurchases during the nine months ended December 31, 2013. During the nine months ended December 31, 2012, approximately 0.1 million shares were repurchased on the open market at a weighted average price of $5.18 per share. From the time the program was first implemented in August 2004, the Company has repurchased on the open market a total of 17.3 million shares at a weighted average price of $10.04 per share. All repurchased shares were retired upon delivery to the Company. As of December 31, 2013, the Company had $15.9 million available in its stock repurchase program. | |||||||||||||||||
Stock Options | |||||||||||||||||
The Company has granted stock options to employees and non-employee directors under several plans. These option plans include three stockholder-approved plans (1992 Stock Option Plan, 1997 Directors’ Stock Option Plan and 2011 Equity Incentive Plan) and four plans not approved by stockholders (2000 Equity Incentive Plan, Cimaron Communications Corporation’s 1998 Stock Incentive Plan assumed in the fiscal 1999 merger, and JNI Corporation’s 1997 and 1999 Stock Option Plans assumed in the fiscal 2004 merger). Certain other outstanding options were assumed through the Company’s various acquisitions. | |||||||||||||||||
Option activity under the Company’s stock incentive plans during the nine months ended December 31, 2013 is set forth below (in thousands, except per share data): | |||||||||||||||||
Number of Shares | Weighted Average | ||||||||||||||||
Exercise Price | |||||||||||||||||
Per Share | |||||||||||||||||
Outstanding at the beginning of the year | 3,492 | $ | 10.26 | ||||||||||||||
Granted | 40 | 7.35 | |||||||||||||||
Exercised | (641 | ) | 9.5 | ||||||||||||||
Cancelled | (420 | ) | 11.36 | ||||||||||||||
Outstanding at the end of the period | 2,471 | $ | 10.22 | ||||||||||||||
Vested and expected to vest at the end of the period | 2,470 | $ | 10.22 | ||||||||||||||
Vested and exercisable at the end of the period | 2,344 | $ | 10.31 | ||||||||||||||
At December 31, 2013, the weighted average remaining contractual term for options outstanding and vested is 2.8 years. | |||||||||||||||||
The aggregate pretax intrinsic value of options exercised during the nine months ended December 31, 2013 was approximately $1.7 million. This intrinsic value represents the excess of the fair market value of the Company’s common stock on the date of exercise over the exercise price of such options. | |||||||||||||||||
The weighted average remaining contractual life and weighted average per share exercise price of options outstanding and of options exercisable as of December 31, 2013 were as follows (in thousands, except exercise prices and years): | |||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Range of Exercise Prices | Number of | Weighted | Weighted | Number of | Weighted | ||||||||||||
Shares | Average | Average | Shares | Average | |||||||||||||
Remaining | Exercise Price | Exercise Price | |||||||||||||||
Contractual | |||||||||||||||||
Life | |||||||||||||||||
$ 1.68 - $ 7.60 | 562 | 3.28 | $ | 6.71 | 473 | $ | 6.63 | ||||||||||
7.61 - 7.67 | 650 | 2.58 | 7.67 | 650 | 7.67 | ||||||||||||
7.68 - 11.86 | 430 | 3.55 | 10.49 | 406 | 10.42 | ||||||||||||
11.87 - 14.20 | 493 | 2.61 | 12.87 | 478 | 12.89 | ||||||||||||
14.21 - 23.32 | 336 | 1.55 | 16.78 | 337 | 16.78 | ||||||||||||
$ 1.68 - $23.32 | 2,471 | 2.77 | $ | 10.22 | 2,344 | $ | 10.31 | ||||||||||
As of December 31, 2013, the aggregate pre-tax intrinsic value of options outstanding and exercisable was approximately $9.0 million and $8.4 million, respectively. The aggregate pre-tax intrinsic values were calculated based on the closing price of the Company’s common stock of $13.37 on December 31, 2013. | |||||||||||||||||
Restricted Stock Units ("RSUs") | |||||||||||||||||
The Company has granted RSUs pursuant to its 1992 Plan, 2000 Equity Incentive Plan and 2011 Equity Incentive Plan as part of its regular annual employee equity compensation review program as well as to new hires. RSUs are share awards that, upon vesting, will deliver to the holder shares of the Company’s common stock. Generally, RSUs vest ratably on a quarterly basis over four years from the date of grant. For employees hired after May 15, 2006, RSUs will vest on a quarterly basis over four years from the date of hire provided that no shares will vest during the first year of employment, at the end of which the shares that would have vested during that year will vest and the remaining shares will vest over the remaining 12 quarters. | |||||||||||||||||
In April 2011, the Committee authorized three-year performance-based RSU grants, or “EBITDA2” Grants. Fiscal 2012 and 2013 were declared as zero attainment years and vesting target shares have rolled over to fiscal 2014. The Company expects that all shares issued under the EBITDA2 program will expire unvested when the program concludes in May 2014. | |||||||||||||||||
In November 2011 and February 2012, the Committee authorized additional 18-month performance-based RSU grants, or “Performance Retention" Grants, which were intended to incentivize superior performance and retain key employees. In May 2012, the Committee authorized 12-month Performance Retention Grants. Vesting for the Performance Retention Grants was subject to (i) the accomplishment of goals and objectives of the individual’s business unit and (ii) individual performance as measured by the accomplishment of individual goals and objectives. The 18-month RSU shares generally vested 2/3 after one year, with certain unearned amounts able to roll over to the subsequent vesting period, and 1/3 after 18 months. The 12-month RSU shares had the opportunity to vest after 1 year. Unvested RSU shares remaining at the end of the program period expired unvested. This program has concluded and no further grants will be made under this program. | |||||||||||||||||
In February 2012, Dr. Gopi was awarded 500,000 performance-based RSUs based on three underlying performance milestones. The value of these RSUs is $3.7 million. The award associated with each underlying milestone will vest only if the Company's performance milestones relating to the Veloce merger are satisfied; otherwise they will expire unvested. The Company evaluates the probability of achieving the milestones and recognizes expense accordingly. As of December 31, 2013, the first two performance milestones have been completed and the third and final performance milestone was assessed as being probable of attainment, and the associated stock-based compensation expense has been recorded in the Company's Condensed Consolidated Financial Statements. In November 2013, Dr. Gopi was awarded an additional 500,000 RSUs of which 200,000 RSUs were vested on the grant date and the remaining 300,000 RSUs will vest upon the attainment of certain specified X-Gene and X-Weave commercialization goals. The value of these performance-based RSUs is $3.2 million. | |||||||||||||||||
In May and November 2013, the Committee authorized performance-based market stock units or "MSUs". The MSUs will be earned, if at all, based on the Company's Total Shareholder Return (“TSR”) compared to that of the SPDR S&P Semiconductor Index ("Index”) over a two-year performance period (for half of the MSU award) and a three-year performance period (for the remaining half of the MSU award). The MSUs will vest between ranges of 0% and 150% based on the Company's relative TSR compared to the Index. | |||||||||||||||||
In May 2013, the Committee authorized an annual incentive compensation plan the (“FY2014 Short Term Plan”), that, if earned, would become payable in RSUs on May 15, 2014. The FY 2014 Short Term Plan will pay out based on fiscal 2014 revenue and non-GAAP earnings per share metrics. The award payouts for each corporate financial measure will range from 50% to 150% of the pre-established target level based on the Company's actual performance for fiscal 2014. | |||||||||||||||||
Restricted stock unit activity during the nine months ended December 31, 2013 is set forth below (in thousands): | |||||||||||||||||
Number of Shares | |||||||||||||||||
Outstanding at the beginning of the year | 6,444 | ||||||||||||||||
Awarded | 3,069 | ||||||||||||||||
Vested | (2,048 | ) | |||||||||||||||
Cancelled | (1,510 | ) | |||||||||||||||
Outstanding at the end of the period | 5,955 | ||||||||||||||||
The weighted average remaining contractual term for the restricted stock units outstanding as of December 31, 2013 was 1.0 year. | |||||||||||||||||
As of December 31, 2013, the aggregate pre-tax intrinsic value of restricted stock units outstanding was $79.6 million which includes performance-based awards which are subject to milestone attainment. The aggregate pretax intrinsic values were calculated based on the closing price of the Company’s common stock of $13.37 on December 31, 2013. | |||||||||||||||||
The aggregate pretax intrinsic value of RSUs released during the nine months ended December 31, 2013 was $18.8 million. This intrinsic value represents the fair market value of the Company’s common stock on the date of release. | |||||||||||||||||
Warrants | |||||||||||||||||
On May 17, 2009, the Company entered into a development agreement with Veloce pursuant to which Veloce agreed, among other things, to perform development work for the Company on an exclusive basis for up to five years for cash and other consideration, including a warrant to purchase shares of the Company’s common stock (the “Warrant”). In connection with the Merger Agreement amendment entered into on April 5, 2012, the Company and Veloce further modified the Warrant by fully accelerating the vesting schedule resulting in the recognition of approximately $1.3 million of stock compensation expense during the quarter ended June 30, 2012. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
STOCK-BASED COMPENSATION | ' | ||||||||||||||||
STOCK-BASED COMPENSATION | |||||||||||||||||
The Company accounts for stock-based compensation activity using the modified prospective method. This method requires companies to estimate the fair value of stock-based compensation on the date of grant using an option-pricing model. The Company uses the Black-Scholes model to value stock-based compensation for options and ESPP, and the fair market value of the Company's common stock for RSUs. The MSUs were valued using the Monte Carlo pricing model, which uses the Company's stock price, the Index value, expected volatilities of the Company's stock price and the Index, correlation coefficients and risk free interest rates to determine the fair value. The Black-Scholes model determines the fair value of share-based payment awards based on the stock price on the date of grant and is affected by assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the Company’s stock price, volatility over the term of the awards and actual and projected employee stock option exercise behaviors. Option-pricing models were developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. Although the fair value of stock options granted by the Company is estimated by the Black-Scholes model, the estimated fair value may not be indicative of the fair value observed in a willing buyer/willing seller market transaction. | |||||||||||||||||
The Company did not grant options or employee stock purchase rights during the three months ended December 31, 2013 and 2012. The fair value of the options and employee stock purchase rights granted during the nine months ended December 31, 2013 and 2012 is estimated as of the grant date using the Black-Scholes option-pricing model with the following weighted-average assumptions: | |||||||||||||||||
Nine Months Ended December 31, | |||||||||||||||||
Employee Stock | ESPP | ||||||||||||||||
Options | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Expected life (years) | 4.4 | 4.5 | 0.5 | 0.5 | |||||||||||||
Risk-free interest rate | 0.6 | % | 0.7 | % | 0.1 | % | 0.2 | % | |||||||||
Volatility | 49 | % | 54 | % | 57 | % | 50 | % | |||||||||
Dividend yield | — | % | — | % | — | % | — | % | |||||||||
Weighted average fair value | $ | 2.95 | $ | 2.47 | $ | 3.67 | $ | 1.5 | |||||||||
The weighted average grant-date fair value per share of the restricted stock units awarded was $9.84 and $8.57 during the three and nine months ended December 31, 2013, respectively, compared to $6.13 and $5.71 during the three and nine months ended December 31, 2012, respectively. The weighted average fair value per share was calculated based on the fair market value of the Company’s common stock on the respective grant dates. | |||||||||||||||||
Effective April 1, 2013, the Company revised its estimated forfeiture rate used in determining the amount of stock-based compensation from 6.6% to 6.7% as a result of an increased rate of forfeitures in recent periods, which the Company believes is indicative of the rate it will experience during the remaining vesting period of currently outstanding unvested grants. | |||||||||||||||||
The following table summarizes stock-based compensation expense related to stock options and RSUs (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock-based compensation expense by type of award | |||||||||||||||||
Stock options | $ | 648 | $ | 935 | $ | 1,987 | $ | 3,024 | |||||||||
Restricted stock units | 5,231 | 5,276 | 11,454 | 18,427 | |||||||||||||
Total stock-based compensation | 5,879 | 6,211 | 13,441 | 21,451 | |||||||||||||
Stock-based compensation (capitalized to) expensed from inventory | 3 | 11 | (11 | ) | 94 | ||||||||||||
Total stock-based compensation expense | $ | 5,882 | $ | 6,222 | $ | 13,430 | $ | 21,545 | |||||||||
The following table summarizes stock-based compensation expense as it relates to the Company’s Condensed Consolidated Statement of Operations (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock-based compensation expense by cost centers | |||||||||||||||||
Cost of revenues | $ | 118 | $ | 147 | $ | 353 | $ | 502 | |||||||||
Research and development | 1,545 | 2,814 | 4,867 | 10,733 | |||||||||||||
Selling, general and administrative | 4,216 | 3,250 | 8,221 | 10,216 | |||||||||||||
Total stock-based compensation | $ | 5,879 | $ | 6,211 | $ | 13,441 | $ | 21,451 | |||||||||
Stock-based compensation (capitalized to) expensed from inventory | 3 | 11 | (11 | ) | 94 | ||||||||||||
Total stock-based compensation expense | $ | 5,882 | $ | 6,222 | $ | 13,430 | $ | 21,545 | |||||||||
The amount of unrecognized stock-based compensation cost estimated to be expensed from December 31, 2013 through fiscal 2018, including time and performance based awards that are expected to vest, is $21.7 million which will be recognized over a weighted-average period of 1.6 years. If there are any modifications or cancellations of the underlying unvested securities, the Company may be required to accelerate, increase or cancel any remaining unearned stock-based compensation expense. Future stock-based compensation expense and unearned stock-based compensation will increase to the extent that the Company grants additional equity awards or assumes unvested equity awards in connection with acquisitions. | |||||||||||||||||
The stock based compensation expense of approximately $21.5 million for the nine months ended December 31, 2012 does not include approximately $1.3 million of expense related to the acceleration of Veloce warrants. See Note 4, Veloce, to the Condensed Consolidated Financial Statements for further details relating to the Veloce warrants. |
Contingencies
Contingencies | 9 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
CONTINGENCIES | ' |
CONTINGENCIES | |
Legal Proceedings | |
The Company is currently a party to certain legal proceedings, including those noted in this section. While the Company presently believes that the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm the Company's financial position, results of operations, cash flows, or overall trends, legal proceedings are subject to inherent uncertainties, unfavorable rulings or other events that could occur. In addition, legal proceedings are expensive to prosecute and defend against and can divert management attention and Company resources away from the Company's business objectives. Unfavorable resolutions could include monetary damages against the Company or injunctions or other restrictions on the conduct of the Company’s business, or preclude the Company from recovering the damages it seeks in legal proceedings it has commenced. It is also possible that the Company could conclude it is in the best interests of its stockholders, employees, and customers to settle one or more such matters, and any such settlement could include substantial payments or the surrender of rights to collect payments from third parties. However, the Company has not reached this conclusion with respect to any particular matter at this time. | |
In 1993, the Company was named as a Potentially Responsible Party (“PRP”) along with more than 100 other companies that used an Omega Chemical Corporation waste treatment facility in Whittier, California (the “Omega Site”). The U.S. Environmental Protection Agency (“EPA”) has alleged that Omega failed to properly treat and dispose of certain hazardous waste materials at the Omega Site. The Company is a member of a large group of PRPs, known as the Omega Chemical Site PRP Organized Group (“OPOG”), that has agreed to fund certain on-going remediation efforts at the Omega Site. In February 2001, the U.S. District Court for the Central District of California (the “Court”) approved a consent decree between EPA and OPOG to study the contamination and evaluate cleanup options at the Omega Site (the Operable Unit 1 or “OU1”). In January 2009, the Court approved two amendments to the consent decree, the first expanding the scope of work to mitigate volatile organic compounds affecting indoor air quality near the Omega Site (the Operable Unit 3 or “OU3”) and the second adding settling parties to the consent decree. Removal of waste materials from the Omega Site has been completed. As part of OU1 and OU3, efforts to remediate the soil and groundwater at the Omega Site, as well as the extraction of chemical vapors from the soil and improving indoor air quality in and around the site, are underway and are expected to be ongoing for several years. In addition, OPOG and EPA are investigating a regional groundwater contamination plume allegedly originating at the Omega Site (the Operable Unit 2 or “OU2”). In September 2011, EPA issued an interim Record of Decision specifying the interim clean-up actions EPA has chosen for OU2, and in September 2012, it issued a special notice letter that triggered the commencement of good faith settlement negotiations with OPOG. In July 2013, EPA rejected a good faith offer (“GFO”) to settle the matter that OPOG had submitted in February 2013. In October 2013, OPOG submitted a revised GFO that EPA currently is considering. Settlement negotiations between the parties are expected to continue through fiscal year 2014. It is anticipated that such settlement negotiations will result in EPA and OPOG entering into a remediation consent decree with the Court regarding OU2. In December 2013, OPOG retained legal counsel to pursue claims against other PRPs for the regional groundwater contamination. In November 2007, Angeles Chemical Company, located downstream from the Omega Site, filed a lawsuit (the “Angeles Litigation”) in the Court against OPOG and the PRPs for cost recovery and indemnification for future response costs allegedly resulting from the regional groundwater contamination plume described above. In March 2008, the Court granted OPOG’s motion to stay the Angeles Litigation pending EPA’s determination of how to investigate and remediate the regional groundwater. In January 2012, as a result of challenges made by certain PRPs to the criteria previously used to allocate liability among OPOG members, and of the departure of certain PRPs from OPOG, OPOG approved changes to the cost allocation structure that resulted in an increase to the Company’s proportional allocation of liability. In addition, the subsequent departure of one or more other PRPs from OPOG could have the effect of increasing the proportional liability of the remaining PRPs, including the Company. Although the Company considers a loss relating to the Omega Site probable, its share of any financial obligations for the remediation of the Omega Site, including taking into account the allocation increases described above, is not currently believed to be material to the Company’s financial statements, based on the Company’s approximately 0.5% contribution to the total waste tonnage sent to the site and current estimates of the potential remediation costs. Based on currently available information, the Company has a loss accrual that is not material and believes that the actual amount of its costs will not be materially different from the amount accrued. However, proceedings are ongoing and the eventual outcome of the clean-up efforts and the pending litigation matters is uncertain at this time. Based on currently available information, the Company does not believe that any eventual outcome will have a material adverse effect on its operations. | |
In August 2013, a complaint was filed against the Company in the California Superior Court for Santa Clara County by Emulex Corporation (“Emulex”), a purchaser of certain Company products, alleging rights to indemnification by the Company for unspecified expenses incurred by Emulex in connection with patent infringement litigation brought against Emulex by Broadcom Corporation in 2009 and 2010. In September 2013, the Company filed an answer which, among other things, denied each of the allegations in the complaint and filed a cross complaint against Emulex seeking, among other things, damages for fraudulent inducement and a declaratory judgment that the Company has no duty to indemnify Emulex in the Broadcom litigation. Discovery has recently commenced in these actions. |
Sale_of_TPack_AS
Sale of TPack A/S | 9 Months Ended | |||
Dec. 31, 2013 | ||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||
SALE OF TPACK A/S | ' | |||
SALE OF TPack A/S | ||||
On April 22, 2013, the Company completed the sale of TPack and certain specified intellectual property assets owned by the Company related to TPack's business for an aggregate consideration of $33.5 million, payable in cash, which reflects the $34.0 million base purchase price as adjusted for the working capital adjustment mechanism set forth in the Purchase Agreement, and remains subject to a potential final, non-material post-closing adjustments. In connection with the closing, there was a working capital adjustment of $0.5 million and the Company received a cash payment of $30.2 million. The remaining cash payment of $3.4 million of the aggregate consideration will be held back until March 31, 2014 to secure the Company's indemnification obligations subject to and in accordance with the terms of the Purchase Agreement. The distribution of this holdback amount is subject to any indemnification claims that the buyer may have under the terms of the Purchase Agreement and final resolution of any such claims. | ||||
TPack operated as part of the Company's Connectivity reporting unit. The sale of TPack does not represent an exit from the Connectivity business. The Company will continue to sell Connectivity technology products as an ongoing part of its business, and as such the sale of TPack is not a discontinuance of an operation. | ||||
In connection with the divestiture, we recorded a gain of $19.7 million. The following table summarizes the components of the gain (in thousands): | ||||
Total proceeds, net of working capital adjustment, | $ | 30,175 | ||
Net assets and liabilities | (184 | ) | ||
Goodwill write off | (1,757 | ) | ||
Intangibles write off | (11,404 | ) | ||
Holdback amount | 3,353 | |||
Legal fees and other costs | (484 | ) | ||
Gain on sale of TPack | $ | 19,699 | ||
The total assets of TPack included $0.7 million of cash, cash equivalents and short term investments. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
SUBSEQUENT EVENTS | |
On January 22, 2014, the “Company” entered into an agreement to sell its headquarters building and related parcel of land in Sunnyvale, California, for a purchase price of $40.8 million in cash. The closing of the sale is scheduled to occur on or before March 13, 2014, and is subject to a limited set of closing conditions. In connection with the execution of the agreement, the purchaser provided a non-refundable cash deposit of $7.0 million. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation | ' | |
The Condensed Consolidated Financial Statements include all the accounts of AppliedMicro (the "Company") and its wholly-owned subsidiaries including Veloce Technologies Inc. (“Veloce”), which was consolidated in prior accounting periods prior to its merger with the Company, as a variable interest entity (“VIE”) since the Company was determined to be its primary beneficiary. On June 20, 2012, the Company completed the acquisition of Veloce which became a wholly owned subsidiary of the Company as of this date. See Note 4, Veloce, to the Condensed Consolidated Financial Statements. All significant intercompany balances and transactions have been eliminated in consolidation. | ||
Use of Estimates | ' | |
The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to its: | ||
• | capitalized mask sets including their useful lives, which affect cost of goods sold and property and equipment or Research and Development ("R&D") expenses, if not capitalized; | |
• | inventory valuation, warranty liabilities and revenue reserves, which affects cost of sales, gross margin, and revenues; | |
• | allowance for doubtful accounts, which affects operating expenses; | |
• | unrealized losses or other-than-temporary impairments of short-term investments available for sale, which affects interest income (expense), net; | |
• | valuation of purchased intangibles and goodwill, which affects amortization and impairments of purchased intangibles, impairments of goodwill and apportionment of goodwill related to divestitures; | |
• | Veloce accrued liability which considers: (i) estimating the total value of the expected Veloce consideration, (ii) determining the stage at which a milestone is deemed to be probable of attainment, (iii) the estimated progress towards achieving the milestone at the time such milestone was deemed probable of achievement and (iv) estimating the approximate timing of the expected completion of the milestones and related payments; | |
• | potential costs of litigation, which affects operating expenses; | |
• | valuation of deferred income taxes, which affects income tax expense (benefit); and | |
• | stock-based compensation, which affects gross margin and operating expenses. | |
The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from management’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Certain_Financial_Statement_In1
Certain Financial Statement Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Certain Financial Statement Information [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Accounts receivable | ' | ||||||||||||||||||||||||||||||||
Accounts receivable: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Accounts receivable | $ | 29,281 | $ | 25,278 | |||||||||||||||||||||||||||||
Less: allowance for bad debts | (481 | ) | (703 | ) | |||||||||||||||||||||||||||||
$ | 28,800 | $ | 24,575 | ||||||||||||||||||||||||||||||
Schedule of Inventories | ' | ||||||||||||||||||||||||||||||||
Inventories: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Finished goods | $ | 4,513 | $ | 7,247 | |||||||||||||||||||||||||||||
Work in process | 4,637 | 4,098 | |||||||||||||||||||||||||||||||
Raw materials | 1,332 | 1,555 | |||||||||||||||||||||||||||||||
$ | 10,482 | $ | 12,900 | ||||||||||||||||||||||||||||||
Schedule of Assets Held-for-sale | ' | ||||||||||||||||||||||||||||||||
Assets held for sale: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Assets held for sale | $ | 14,260 | $ | — | |||||||||||||||||||||||||||||
Schedule of Other current assets | ' | ||||||||||||||||||||||||||||||||
Other current assets: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Prepaid expenses | $ | 11,177 | $ | 13,762 | |||||||||||||||||||||||||||||
Executive deferred compensation assets | 1,157 | 693 | |||||||||||||||||||||||||||||||
Deposits | 653 | 828 | |||||||||||||||||||||||||||||||
Receivable from sale of strategic investment and TPack | 3,353 | 1,331 | |||||||||||||||||||||||||||||||
Other | 1,489 | 1,384 | |||||||||||||||||||||||||||||||
$ | 17,829 | $ | 17,998 | ||||||||||||||||||||||||||||||
Schedule of Property and equipment | ' | ||||||||||||||||||||||||||||||||
Property and equipment: | |||||||||||||||||||||||||||||||||
Useful | December 31, | March 31, | |||||||||||||||||||||||||||||||
Life | 2013 | 2013 | |||||||||||||||||||||||||||||||
(In years) | (In thousands) | ||||||||||||||||||||||||||||||||
Machinery and equipment * | 7-May | $ | 44,887 | $ | 40,063 | ||||||||||||||||||||||||||||
Leasehold improvements ** | 15-Jan | 9,011 | 14,202 | ||||||||||||||||||||||||||||||
Computers, office furniture and equipment | 7-Mar | 43,992 | 43,485 | ||||||||||||||||||||||||||||||
Buildings ** | 31.5 | — | 2,756 | ||||||||||||||||||||||||||||||
Land ** | — | — | 9,800 | ||||||||||||||||||||||||||||||
97,890 | 110,306 | ||||||||||||||||||||||||||||||||
Less: accumulated depreciation and amortization | (77,718 | ) | (75,915 | ) | |||||||||||||||||||||||||||||
$ | 20,172 | $ | 34,391 | ||||||||||||||||||||||||||||||
* Includes capitalized mask costs. | |||||||||||||||||||||||||||||||||
** December 31, 2013 balances exclude $14.3 million, including land, building and leasehold improvements related to the Company's headquarters in Sunnyvale, California, which have been reclassified as assets held for sale and included under current assets. | |||||||||||||||||||||||||||||||||
Schedule of Goodwill | ' | ||||||||||||||||||||||||||||||||
Goodwill is as follows: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Goodwill | $ | 11,425 | $ | 13,183 | |||||||||||||||||||||||||||||
Schedule of Purchased intangible assets | ' | ||||||||||||||||||||||||||||||||
Purchase-related intangibles are as follows: | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Gross | Accumulated | Net | Weighted | Gross | Accumulated | Net | Weighted | ||||||||||||||||||||||||||
Amortization | average | Amortization | average | ||||||||||||||||||||||||||||||
and Impairments | remaining | and Impairments | remaining | ||||||||||||||||||||||||||||||
useful life | useful life | ||||||||||||||||||||||||||||||||
(In thousands) | (In years) | (In thousands) | (In years) | ||||||||||||||||||||||||||||||
Developed technology/in-process research and development | $ | 425,000 | $ | (425,000 | ) | $ | — | — | $ | 441,300 | $ | (431,771 | ) | $ | 9,529 | 3.5 | |||||||||||||||||
Customer relationships | 6,330 | (6,163 | ) | 167 | 0.7 | 12,830 | (10,507 | ) | 2,323 | 2.1 | |||||||||||||||||||||||
Patents/core technology rights/tradename | 62,306 | (62,306 | ) | — | — | 63,206 | (63,067 | ) | 139 | 0.3 | |||||||||||||||||||||||
$ | 493,636 | $ | (493,469 | ) | $ | 167 | $ | 517,336 | $ | (505,345 | ) | $ | 11,991 | ||||||||||||||||||||
During the quarter ended June 30, 2013, $11.4 million of purchased intangibles were written off pursuant to the sale of TPack. Please refer to Note 8, Sale of TPack A/S, to the Condensed Consolidated Financial Statements for further discussion. | |||||||||||||||||||||||||||||||||
Schedule of Estimated future amortization expense of purchased intangible assets | ' | ||||||||||||||||||||||||||||||||
As of December 31, 2013, the estimated future amortization expense of purchased intangible assets to be charged to operating expenses was as follows (in thousands): | |||||||||||||||||||||||||||||||||
Operating | |||||||||||||||||||||||||||||||||
Expenses | |||||||||||||||||||||||||||||||||
Fiscal Years Ending March 31, | |||||||||||||||||||||||||||||||||
2014 (remainder of year) | $ | 63 | |||||||||||||||||||||||||||||||
2015 | 104 | ||||||||||||||||||||||||||||||||
Total | $ | 167 | |||||||||||||||||||||||||||||||
Schedule of Other assets | ' | ||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Non-current portion of prepaid expenses | $ | 4,842 | $ | 7,866 | |||||||||||||||||||||||||||||
Strategic investments | 3,000 | 3,000 | |||||||||||||||||||||||||||||||
$ | 7,842 | $ | 10,866 | ||||||||||||||||||||||||||||||
Schedule of Other accrued liabilities | ' | ||||||||||||||||||||||||||||||||
Other accrued liabilities: | |||||||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Employee related liabilities | $ | 1,902 | $ | 2,236 | |||||||||||||||||||||||||||||
Executive deferred compensation | 1,415 | 1,284 | |||||||||||||||||||||||||||||||
Income taxes | 1,254 | 903 | |||||||||||||||||||||||||||||||
Professional fees | 2,033 | 3,840 | |||||||||||||||||||||||||||||||
Other | 4,574 | 2,467 | |||||||||||||||||||||||||||||||
$ | 11,178 | $ | 10,730 | ||||||||||||||||||||||||||||||
Schedule of Cash, cash equivalents and available-for-sale investments by type of instruments | ' | ||||||||||||||||||||||||||||||||
The following is a summary of cash, cash equivalents and available-for-sale investments by type of instrument (in thousands): | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized | Estimated | Amortized | Gross Unrealized | Estimated | ||||||||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||||||
Cash | $ | 19,716 | $ | — | $ | — | $ | 19,716 | $ | 8,529 | $ | — | $ | — | $ | 8,529 | |||||||||||||||||
Cash equivalents | 3,914 | — | — | 3,914 | 10,536 | — | — | 10,536 | |||||||||||||||||||||||||
U.S. Treasury securities and agency bonds | 11,747 | 8 | (4 | ) | 11,751 | 12,363 | 10 | — | 12,373 | ||||||||||||||||||||||||
Corporate bonds | 15,482 | 56 | (4 | ) | 15,534 | 15,567 | 63 | (2 | ) | 15,628 | |||||||||||||||||||||||
Mortgage-backed and asset-backed securities* | 4,015 | 300 | (47 | ) | 4,268 | 3,655 | 355 | (7 | ) | 4,003 | |||||||||||||||||||||||
Closed-end bond funds | 14,374 | 2,261 | (818 | ) | 15,817 | 21,914 | 5,340 | (39 | ) | 27,215 | |||||||||||||||||||||||
Preferred stock | 2,406 | 878 | — | 3,284 | 4,878 | 2,314 | — | 7,192 | |||||||||||||||||||||||||
$ | 71,654 | $ | 3,503 | $ | (873 | ) | $ | 74,284 | $ | 77,442 | $ | 8,082 | $ | (48 | ) | $ | 85,476 | ||||||||||||||||
Reported as: | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 23,630 | $ | 19,065 | |||||||||||||||||||||||||||||
Short-term investments available-for-sale | 50,654 | 66,411 | |||||||||||||||||||||||||||||||
$ | 74,284 | $ | 85,476 | ||||||||||||||||||||||||||||||
* At December 31, 2013 and March 31, 2013, approximately $1.1 million and $1.4 million of the estimated fair value presented were mortgage-backed securities, respectively. | |||||||||||||||||||||||||||||||||
Schedule of Cash, cash equivalents and available-for-sale investments by type of instruments measured at fair value on recurring basis | ' | ||||||||||||||||||||||||||||||||
The following is a summary of cash, cash equivalents and available-for-sale investments by type of instrument measured at fair value on a recurring basis (in thousands): | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Cash | $ | 19,716 | $ | — | $ | — | $ | 19,716 | $ | 8,529 | $ | — | $ | — | $ | 8,529 | |||||||||||||||||
Cash equivalents | 3,914 | — | — | 3,914 | 9,508 | 1,028 | — | 10,536 | |||||||||||||||||||||||||
U.S. Treasury securities and agency bonds | 11,596 | 155 | — | 11,751 | 12,373 | — | — | 12,373 | |||||||||||||||||||||||||
Corporate bonds | — | 15,534 | — | 15,534 | — | 15,628 | — | 15,628 | |||||||||||||||||||||||||
Mortgage-backed and asset-backed securities | — | 4,268 | — | 4,268 | — | 4,003 | — | 4,003 | |||||||||||||||||||||||||
Closed-end bond funds | 15,817 | — | — | 15,817 | 27,215 | — | — | 27,215 | |||||||||||||||||||||||||
Preferred stock | — | 3,284 | — | 3,284 | — | 7,192 | — | 7,192 | |||||||||||||||||||||||||
$ | 51,043 | $ | 23,241 | $ | — | $ | 74,284 | $ | 57,625 | $ | 27,851 | $ | — | $ | 85,476 | ||||||||||||||||||
Schedule of Cost and estimated fair values of available-for-sale securities with stated maturities by contractual maturity | ' | ||||||||||||||||||||||||||||||||
The following is a summary of the cost and estimated fair values of available-for-sale securities with stated maturities, which include U.S. Treasury securities and agency bonds, corporate bonds and mortgage-backed and asset-backed securities, by contractual maturity (in thousands): | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Cost | Estimated Fair Value | Cost | Estimated Fair Value | ||||||||||||||||||||||||||||||
Less than 1 year | $ | 7,259 | $ | 7,411 | $ | 9,205 | $ | 9,217 | |||||||||||||||||||||||||
Mature in 1 – 2 years | 22,341 | 22,369 | 19,843 | 20,040 | |||||||||||||||||||||||||||||
Mature in 3 – 5 years | 707 | 771 | 1,575 | 1,649 | |||||||||||||||||||||||||||||
Mature after 5 years | 937 | 1,002 | 962 | 1,098 | |||||||||||||||||||||||||||||
$ | 31,244 | $ | 31,553 | $ | 31,585 | $ | 32,004 | ||||||||||||||||||||||||||
Schedule of Gross unrealized losses | ' | ||||||||||||||||||||||||||||||||
The following is a summary of gross unrealized losses as of (in thousands): | |||||||||||||||||||||||||||||||||
Less Than 12 Months of | 12 Months or More of | Total | |||||||||||||||||||||||||||||||
Unrealized Losses | Unrealized Losses | ||||||||||||||||||||||||||||||||
As of December 31, 2013 | Estimated | Gross | Estimated | Gross | Estimated | Gross | |||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
U.S. Treasury securities and agency bonds | $ | 2,566 | $ | (4 | ) | $ | — | $ | — | $ | 2,566 | $ | (4 | ) | |||||||||||||||||||
Corporate bonds | 2,811 | (4 | ) | — | — | 2,811 | (4 | ) | |||||||||||||||||||||||||
Mortgage-backed and asset-backed securities | 1,451 | (47 | ) | 6 | — | 1,457 | (47 | ) | |||||||||||||||||||||||||
Closed-end bond funds | 6,344 | (721 | ) | 377 | (97 | ) | 6,721 | (818 | ) | ||||||||||||||||||||||||
$ | 13,172 | $ | (776 | ) | $ | 383 | $ | (97 | ) | $ | 13,555 | $ | (873 | ) | |||||||||||||||||||
Less Than 12 Months of | 12 Months or More of | Total | |||||||||||||||||||||||||||||||
Unrealized Losses | Unrealized Losses | ||||||||||||||||||||||||||||||||
As of March 31, 2013 | Estimated | Gross | Estimated | Gross | Estimated | Gross | |||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
U.S. Treasury securities and agency bonds | $ | 300 | $ | — | $ | — | $ | — | $ | 300 | $ | — | |||||||||||||||||||||
Corporate bonds | 2,276 | (2 | ) | 113 | — | 2,389 | (2 | ) | |||||||||||||||||||||||||
Mortgage-backed and asset-backed securities | 647 | (3 | ) | — | (4 | ) | 647 | (7 | ) | ||||||||||||||||||||||||
Closed-end bond funds | — | — | 6,991 | (39 | ) | 6,991 | (39 | ) | |||||||||||||||||||||||||
$ | 3,223 | $ | (5 | ) | $ | 7,104 | $ | (43 | ) | $ | 10,327 | $ | (48 | ) | |||||||||||||||||||
Schedule of Warranty reserve activity | ' | ||||||||||||||||||||||||||||||||
The following table summarizes warranty reserve activity (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Beginning balance | $ | 187 | $ | 370 | $ | 220 | $ | 454 | |||||||||||||||||||||||||
Charged to costs of revenues | 54 | 96 | 28 | 311 | |||||||||||||||||||||||||||||
Cost incurred | (39 | ) | (108 | ) | (46 | ) | (407 | ) | |||||||||||||||||||||||||
Ending balance | $ | 202 | $ | 358 | $ | 202 | $ | 358 | |||||||||||||||||||||||||
Schedule of Interest income, net | ' | ||||||||||||||||||||||||||||||||
Interest income (expense), net (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Interest income | $ | 519 | $ | 685 | $ | 1,389 | $ | 1,915 | |||||||||||||||||||||||||
Net realized gain on short-term investments | 6 | 207 | 3,290 | 1,401 | |||||||||||||||||||||||||||||
$ | 525 | $ | 892 | $ | 4,679 | $ | 3,316 | ||||||||||||||||||||||||||
Schedule of Reconciliation of shares used to calculate basic and diluted net loss per share | ' | ||||||||||||||||||||||||||||||||
The reconciliation of shares used to calculate basic and diluted net loss per share consists of the following (in thousands, except per share data): | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Net loss | $ | (7,284 | ) | $ | (71,562 | ) | $ | (28,810 | ) | $ | (116,509 | ) | |||||||||||||||||||||
Shares used in net loss per share computation: | |||||||||||||||||||||||||||||||||
Weighted average common shares outstanding, basic | 73,989 | 66,113 | 71,986 | 64,489 | |||||||||||||||||||||||||||||
Net effect of dilutive common share equivalents | — | — | — | — | |||||||||||||||||||||||||||||
Weighted average common shares outstanding, diluted | 73,989 | 66,113 | 71,986 | 64,489 | |||||||||||||||||||||||||||||
Basic and diluted net loss per share | $ | (0.10 | ) | $ | (1.08 | ) | $ | (0.40 | ) | $ | (1.81 | ) |
Restructuring_Charges_Tables
Restructuring Charges (Tables) | 9 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||
Schedule of restructuring activity | ' | ||||||||||||
The restructuring activity during the three and nine months ended December 31, 2013 relating to the December 2012 and August 2013 restructuring programs is as follows (in thousands): | |||||||||||||
Workforce Reduction | Asset Impairment | Total | |||||||||||
Liability, March 31, 2013 | $ | 548 | $ | — | $ | 548 | |||||||
Restructuring charges | 93 | — | $ | 93 | |||||||||
Cash payments | (334 | ) | — | $ | (334 | ) | |||||||
Liability, June 30, 2013 | 307 | — | 307 | ||||||||||
Restructuring charges | 727 | 272 | 999 | ||||||||||
Non-cash items | — | (272 | ) | (272 | ) | ||||||||
Cash payments | (847 | ) | — | (847 | ) | ||||||||
Liability, September 30, 2013 | $ | 187 | $ | — | $ | 187 | |||||||
Restructuring charges | 38 | — | 38 | ||||||||||
Cash payments | (225 | ) | — | (225 | ) | ||||||||
Liability, December 31, 2013 | — | — | — | ||||||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
Schedule of Option Activity Under Stock Incentive Plans | ' | ||||||||||||||||
Option activity under the Company’s stock incentive plans during the nine months ended December 31, 2013 is set forth below (in thousands, except per share data): | |||||||||||||||||
Number of Shares | Weighted Average | ||||||||||||||||
Exercise Price | |||||||||||||||||
Per Share | |||||||||||||||||
Outstanding at the beginning of the year | 3,492 | $ | 10.26 | ||||||||||||||
Granted | 40 | 7.35 | |||||||||||||||
Exercised | (641 | ) | 9.5 | ||||||||||||||
Cancelled | (420 | ) | 11.36 | ||||||||||||||
Outstanding at the end of the period | 2,471 | $ | 10.22 | ||||||||||||||
Vested and expected to vest at the end of the period | 2,470 | $ | 10.22 | ||||||||||||||
Vested and exercisable at the end of the period | 2,344 | $ | 10.31 | ||||||||||||||
Weighted Average Remaining Contractual Life and Weighted Average Per Share Exercise Price of Options Outstanding and Options Exercisable | ' | ||||||||||||||||
The weighted average remaining contractual life and weighted average per share exercise price of options outstanding and of options exercisable as of December 31, 2013 were as follows (in thousands, except exercise prices and years): | |||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Range of Exercise Prices | Number of | Weighted | Weighted | Number of | Weighted | ||||||||||||
Shares | Average | Average | Shares | Average | |||||||||||||
Remaining | Exercise Price | Exercise Price | |||||||||||||||
Contractual | |||||||||||||||||
Life | |||||||||||||||||
$ 1.68 - $ 7.60 | 562 | 3.28 | $ | 6.71 | 473 | $ | 6.63 | ||||||||||
7.61 - 7.67 | 650 | 2.58 | 7.67 | 650 | 7.67 | ||||||||||||
7.68 - 11.86 | 430 | 3.55 | 10.49 | 406 | 10.42 | ||||||||||||
11.87 - 14.20 | 493 | 2.61 | 12.87 | 478 | 12.89 | ||||||||||||
14.21 - 23.32 | 336 | 1.55 | 16.78 | 337 | 16.78 | ||||||||||||
$ 1.68 - $23.32 | 2,471 | 2.77 | $ | 10.22 | 2,344 | $ | 10.31 | ||||||||||
Schedule of Restricted Stock Unit Activity | ' | ||||||||||||||||
Restricted stock unit activity during the nine months ended December 31, 2013 is set forth below (in thousands): | |||||||||||||||||
Number of Shares | |||||||||||||||||
Outstanding at the beginning of the year | 6,444 | ||||||||||||||||
Awarded | 3,069 | ||||||||||||||||
Vested | (2,048 | ) | |||||||||||||||
Cancelled | (1,510 | ) | |||||||||||||||
Outstanding at the end of the period | 5,955 | ||||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Weighted-Average Assumptions Used to Estimate the Fair Value of Stock Options | ' | ||||||||||||||||
The Company did not grant options or employee stock purchase rights during the three months ended December 31, 2013 and 2012. The fair value of the options and employee stock purchase rights granted during the nine months ended December 31, 2013 and 2012 is estimated as of the grant date using the Black-Scholes option-pricing model with the following weighted-average assumptions: | |||||||||||||||||
Nine Months Ended December 31, | |||||||||||||||||
Employee Stock | ESPP | ||||||||||||||||
Options | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Expected life (years) | 4.4 | 4.5 | 0.5 | 0.5 | |||||||||||||
Risk-free interest rate | 0.6 | % | 0.7 | % | 0.1 | % | 0.2 | % | |||||||||
Volatility | 49 | % | 54 | % | 57 | % | 50 | % | |||||||||
Dividend yield | — | % | — | % | — | % | — | % | |||||||||
Weighted average fair value | $ | 2.95 | $ | 2.47 | $ | 3.67 | $ | 1.5 | |||||||||
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units | ' | ||||||||||||||||
The following table summarizes stock-based compensation expense related to stock options and RSUs (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock-based compensation expense by type of award | |||||||||||||||||
Stock options | $ | 648 | $ | 935 | $ | 1,987 | $ | 3,024 | |||||||||
Restricted stock units | 5,231 | 5,276 | 11,454 | 18,427 | |||||||||||||
Total stock-based compensation | 5,879 | 6,211 | 13,441 | 21,451 | |||||||||||||
Stock-based compensation (capitalized to) expensed from inventory | 3 | 11 | (11 | ) | 94 | ||||||||||||
Total stock-based compensation expense | $ | 5,882 | $ | 6,222 | $ | 13,430 | $ | 21,545 | |||||||||
Summary of Stock-Based Compensation Expense | ' | ||||||||||||||||
The following table summarizes stock-based compensation expense as it relates to the Company’s Condensed Consolidated Statement of Operations (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock-based compensation expense by cost centers | |||||||||||||||||
Cost of revenues | $ | 118 | $ | 147 | $ | 353 | $ | 502 | |||||||||
Research and development | 1,545 | 2,814 | 4,867 | 10,733 | |||||||||||||
Selling, general and administrative | 4,216 | 3,250 | 8,221 | 10,216 | |||||||||||||
Total stock-based compensation | $ | 5,879 | $ | 6,211 | $ | 13,441 | $ | 21,451 | |||||||||
Stock-based compensation (capitalized to) expensed from inventory | 3 | 11 | (11 | ) | 94 | ||||||||||||
Total stock-based compensation expense | $ | 5,882 | $ | 6,222 | $ | 13,430 | $ | 21,545 | |||||||||
Sale_of_TPack_AS_Tables
Sale of TPack A/S (Tables) | 9 Months Ended | |||
Dec. 31, 2013 | ||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||
In connection with the divestiture, we recorded a gain of $19.7 million. The following table summarizes the components of the gain (in thousands): | ||||
Total proceeds, net of working capital adjustment, | $ | 30,175 | ||
Net assets and liabilities | (184 | ) | ||
Goodwill write off | (1,757 | ) | ||
Intangibles write off | (11,404 | ) | ||
Holdback amount | 3,353 | |||
Legal fees and other costs | (484 | ) | ||
Gain on sale of TPack | $ | 19,699 | ||
Certain_Financial_Statement_In2
Certain Financial Statement Information Accounts Receivable (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Schedule of Accounts receivable | ' | ' | |
Accounts receivable | $29,281 | $25,278 | |
Less: allowance for bad debts | -481 | -703 | |
Accounts receivable, net | $28,800 | $24,575 | [1] |
[1] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Certain_Financial_Statement_In3
Certain Financial Statement Information Inventories (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Schedule of Inventories | ' | ' | |
Finished goods | $4,513 | $7,247 | |
Work in process | 4,637 | 4,098 | |
Raw materials | 1,332 | 1,555 | |
Inventories, total | $10,482 | $12,900 | [1] |
[1] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Certain_Financial_Statement_In4
Certain Financial Statement Information Assets Held for Sale (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Certain Financial Statement Information [Abstract] | ' | ' |
Assets held for sale | $14,260 | $0 |
Certain_Financial_Statement_In5
Certain Financial Statement Information Other Current Assets (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Schedule of Other current assets | ' | ' | |
Prepaid expenses | $11,177 | $13,762 | |
Executive deferred compensation assets | 1,157 | 693 | |
Deposits | 653 | 828 | |
Receivable from sale of strategic investment and TPack | 3,353 | 1,331 | |
Other | 1,489 | 1,384 | |
Other current assets, total | $17,829 | $17,998 | [1] |
[1] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Certain_Financial_Statement_In6
Certain Financial Statement Information Property and Equipment (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Computers, Office Furniture and Equipment [Member] | Computers, Office Furniture and Equipment [Member] | Buildings [Member] | ||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||
Schedule of Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Useful life | ' | ' | '5 years | '7 years | '1 year | '15 years | '3 years | '7 years | '31 years 6 months | ||
Machinery and equipment | $44,887 | [1] | $40,063 | [1] | ' | ' | ' | ' | ' | ' | ' |
Leasehold improvements | 9,011 | [2] | 14,202 | ' | ' | ' | ' | ' | ' | ' | |
Computers, office furniture and equipment | 43,992 | 43,485 | ' | ' | ' | ' | ' | ' | ' | ||
Buildings | 0 | [2] | 2,756 | ' | ' | ' | ' | ' | ' | ' | |
Land | 0 | [2] | 9,800 | ' | ' | ' | ' | ' | ' | ' | |
Property and equipment, gross | 97,890 | 110,306 | ' | ' | ' | ' | ' | ' | ' | ||
Less: accumulated depreciation and amortization | -77,718 | -75,915 | ' | ' | ' | ' | ' | ' | ' | ||
Property and equipment, net | $20,172 | $34,391 | [3] | ' | ' | ' | ' | ' | ' | ' | |
[1] | Includes capitalized mask costs. | ||||||||||
[2] | December 31, 2013 balances exclude $14.3 million, including land, building and leasehold improvements related to the Company's headquarters in Sunnyvale, California, which have been reclassified as assets held for sale and included under current assets. | ||||||||||
[3] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Certain_Financial_Statement_In7
Certain Financial Statement Information Goodwill (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | TPack [Member] | |||
Schedule of Goodwill | ' | ' | ' | |
Goodwill | $11,425 | $13,183 | [1] | ' |
Goodwill write off | ' | ' | $1,800 | |
[1] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Certain_Financial_Statement_In8
Certain Financial Statement Information Purchased Intangibles (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Apr. 22, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | ||
In Thousands, unless otherwise specified | TPack [Member] | Developed technology/in-process research and development [Member] | Developed technology/in-process research and development [Member] | Customer relationships [Member] | Customer relationships [Member] | Patents/core technology rights/tradename [Member] | Patents/core technology rights/tradename [Member] | ||||
Schedule of Purchased Intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Gross Assets | $493,636 | $517,336 | ' | $425,000 | [1] | $441,300 | $6,330 | $12,830 | $62,306 | $63,206 | |
Accumulated Amortization and Impairments | -493,469 | -505,345 | ' | -425,000 | [1] | -431,771 | -6,163 | -10,507 | -62,306 | -63,067 | |
Intangible Assets, Net (Excluding Goodwill) | 167 | 11,991 | [2] | ' | 0 | [1] | 9,529 | 167 | 2,323 | 0 | 139 |
Weighted average remaining useful life | ' | ' | ' | '0 years | [1] | '3 years 6 months | '8 months 12 days | '2 years 1 month 6 days | '0 years | '3 months 18 days | |
Intangibles write off | ' | ' | $11,404 | ' | ' | ' | ' | ' | ' | ||
[1] | During the quarter ended June 30, 2013, $11.4 million of purchased intangibles were written off pursuant to the sale of TPack. Please refer to Note 8, Sale of TPack A/S, to the Condensed Consolidated Financial Statements for further discussion. | ||||||||||
[2] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Certain_Financial_Statement_In9
Certain Financial Statement Information Future Amortization Expense (Details) (Operating Expenses [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Expenses [Member] | ' |
Schedule of Estimated Future Amortization Expense [Line Items] | ' |
2014 (remainder of year) | $63 |
2015 | 104 |
Total | $167 |
Recovered_Sheet1
Certain Financial Statement Information Other Assets (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Schedule of other assets | ' | ' | |
Non-current portion of prepaid expenses | $4,842 | $7,866 | |
Strategic investments | 3,000 | 3,000 | |
Total other assets | $7,842 | $10,866 | [1] |
[1] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Recovered_Sheet2
Certain Financial Statement Information Other Accrued Liabiliteis (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Schedule of other accrued liabilities | ' | ' | |
Employee related liabilities | $1,902 | $2,236 | |
Executive deferred compensation | 1,415 | 1,284 | |
Income taxes | 1,254 | 903 | |
Professional fees | 2,033 | 3,840 | |
Other | 4,574 | 2,467 | |
Total other accrued liabilities | $11,178 | $10,730 | [1] |
[1] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. |
Recovered_Sheet3
Certain Financial Statement Information Short-Term Investments (Details) (USD $) | 9 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2012 | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ||
Cost method investment, ownership percentage (less than) | 20.00% | ' | ' | ' | ||
Investments in non-marketable equity investments, cost method | $0 | $500,000 | ' | ' | ||
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments | ' | ' | ' | ' | ||
Cash, Cash equivalents and Short-term investments, Amortized Cost | 71,654,000 | ' | 77,442,000 | ' | ||
Available for sale Securities Gross Unrealized Gains | 3,503,000 | ' | 8,082,000 | ' | ||
Available For Sale Securities Gross Unrealized Losses | -873,000 | ' | -48,000 | ' | ||
Cash, Cash equivalents and Short-term investments, Estimated Fair Value | 74,284,000 | ' | 85,476,000 | ' | ||
Cash and cash equivalents | 23,630,000 | 15,683,000 | 19,065,000 | [1] | 28,065,000 | |
Short-term investments available-for-sale | 50,654,000 | ' | 66,411,000 | [1] | ' | |
Cash [Member] | ' | ' | ' | ' | ||
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments | ' | ' | ' | ' | ||
Cash, Cash equivalents and Short-term investments, Amortized Cost | 19,716,000 | ' | 8,529,000 | ' | ||
Available for sale Securities Gross Unrealized Gains | 0 | ' | 0 | ' | ||
Available For Sale Securities Gross Unrealized Losses | 0 | ' | 0 | ' | ||
Cash and Cash equivalents, Estimated Fair Value | 19,716,000 | ' | 8,529,000 | ' | ||
Cash equivalents [Member] | ' | ' | ' | ' | ||
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments | ' | ' | ' | ' | ||
Cash, Cash equivalents and Short-term investments, Amortized Cost | 3,914,000 | ' | 10,536,000 | ' | ||
Available for sale Securities Gross Unrealized Gains | 0 | ' | 0 | ' | ||
Available For Sale Securities Gross Unrealized Losses | 0 | ' | 0 | ' | ||
Cash and Cash equivalents, Estimated Fair Value | 3,914,000 | ' | 10,536,000 | ' | ||
U.S Treasury securities and agency bonds [Member] | ' | ' | ' | ' | ||
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments | ' | ' | ' | ' | ||
Cash, Cash equivalents and Short-term investments, Amortized Cost | 11,747,000 | ' | 12,363,000 | ' | ||
Available for sale Securities Gross Unrealized Gains | 8,000 | ' | 10,000 | ' | ||
Available For Sale Securities Gross Unrealized Losses | -4,000 | ' | 0 | ' | ||
Cash, Cash equivalents and Short-term investments, Estimated Fair Value | 11,751,000 | ' | 12,373,000 | ' | ||
Corporate bonds [Member] | ' | ' | ' | ' | ||
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments | ' | ' | ' | ' | ||
Cash, Cash equivalents and Short-term investments, Amortized Cost | 15,482,000 | ' | 15,567,000 | ' | ||
Available for sale Securities Gross Unrealized Gains | 56,000 | ' | 63,000 | ' | ||
Available For Sale Securities Gross Unrealized Losses | -4,000 | ' | -2,000 | ' | ||
Cash, Cash equivalents and Short-term investments, Estimated Fair Value | 15,534,000 | ' | 15,628,000 | ' | ||
Mortgage-backed and asset-backed securities [Member] | ' | ' | ' | ' | ||
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments | ' | ' | ' | ' | ||
Cash, Cash equivalents and Short-term investments, Amortized Cost | 4,015,000 | ' | 3,655,000 | ' | ||
Available for sale Securities Gross Unrealized Gains | 300,000 | ' | 355,000 | ' | ||
Available For Sale Securities Gross Unrealized Losses | -47,000 | ' | -7,000 | ' | ||
Cash, Cash equivalents and Short-term investments, Estimated Fair Value | 4,268,000 | [2] | ' | 4,003,000 | [2] | ' |
Closed-end bond funds [Member] | ' | ' | ' | ' | ||
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments | ' | ' | ' | ' | ||
Cash, Cash equivalents and Short-term investments, Amortized Cost | 14,374,000 | ' | 21,914,000 | ' | ||
Available for sale Securities Gross Unrealized Gains | 2,261,000 | ' | 5,340,000 | ' | ||
Available For Sale Securities Gross Unrealized Losses | -818,000 | ' | -39,000 | ' | ||
Cash, Cash equivalents and Short-term investments, Estimated Fair Value | 15,817,000 | ' | 27,215,000 | ' | ||
Preferred stock [Member] | ' | ' | ' | ' | ||
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments | ' | ' | ' | ' | ||
Cash, Cash equivalents and Short-term investments, Amortized Cost | 2,406,000 | ' | 4,878,000 | ' | ||
Available for sale Securities Gross Unrealized Gains | 878,000 | ' | 2,314,000 | ' | ||
Available For Sale Securities Gross Unrealized Losses | 0 | ' | 0 | ' | ||
Cash, Cash equivalents and Short-term investments, Estimated Fair Value | 3,284,000 | ' | 7,192,000 | ' | ||
Mortgage-backed securities [Member] | ' | ' | ' | ' | ||
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments | ' | ' | ' | ' | ||
Cash, Cash equivalents and Short-term investments, Estimated Fair Value | $1,100,000 | [2] | ' | $1,400,000 | [2] | ' |
[1] | Amounts have been derived from the March 31, 2013 audited consolidated financial statements. | |||||
[2] | At December 31, 2013 and March 31, 2013, approximately $1.1 million and $1.4 million of the estimated fair value presented were mortgage-backed securities, respectively. |
Recovered_Sheet4
Certain Financial Statement Information Fair Value (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | $74,284 | $85,476 | ||
Cash, cash equivalents and available-for-sale investments measured at fair value on recurring basis | 74,284 | 85,476 | ||
Level 1 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and available-for-sale investments measured at fair value on recurring basis | 51,043 | 57,625 | ||
Level 2 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and available-for-sale investments measured at fair value on recurring basis | 23,241 | 27,851 | ||
Level 3 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and available-for-sale investments measured at fair value on recurring basis | 0 | 0 | ||
Cash [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash and cash equivalents measured at fair value on a recurring basis | 19,716 | 8,529 | ||
Cash [Member] | Level 1 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash and cash equivalents measured at fair value on a recurring basis | 19,716 | 8,529 | ||
Cash [Member] | Level 2 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash and cash equivalents measured at fair value on a recurring basis | 0 | 0 | ||
Cash [Member] | Level 3 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash and cash equivalents measured at fair value on a recurring basis | 0 | 0 | ||
Cash equivalents [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash and cash equivalents measured at fair value on a recurring basis | 3,914 | 10,536 | ||
Cash equivalents [Member] | Level 1 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash and cash equivalents measured at fair value on a recurring basis | 3,914 | 9,508 | ||
Cash equivalents [Member] | Level 2 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash and cash equivalents measured at fair value on a recurring basis | 0 | 1,028 | ||
Cash equivalents [Member] | Level 3 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash and cash equivalents measured at fair value on a recurring basis | 0 | 0 | ||
U.S Treasury securities and agency bonds [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 11,751 | 12,373 | ||
U.S Treasury securities and agency bonds [Member] | Level 1 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 11,596 | 12,373 | ||
U.S Treasury securities and agency bonds [Member] | Level 2 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 155 | 0 | ||
U.S Treasury securities and agency bonds [Member] | Level 3 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 0 | 0 | ||
Corporate bonds [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 15,534 | 15,628 | ||
Corporate bonds [Member] | Level 1 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 0 | 0 | ||
Corporate bonds [Member] | Level 2 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 15,534 | 15,628 | ||
Corporate bonds [Member] | Level 3 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 0 | 0 | ||
Mortgage-backed and asset-backed securities [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 4,268 | [1] | 4,003 | [1] |
Mortgage-backed and asset-backed securities [Member] | Level 1 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 0 | 0 | ||
Mortgage-backed and asset-backed securities [Member] | Level 2 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 4,268 | 4,003 | ||
Mortgage-backed and asset-backed securities [Member] | Level 3 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 0 | 0 | ||
Closed-end bond funds [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 15,817 | 27,215 | ||
Closed-end bond funds [Member] | Level 1 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 15,817 | 27,215 | ||
Closed-end bond funds [Member] | Level 2 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 0 | 0 | ||
Closed-end bond funds [Member] | Level 3 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 0 | 0 | ||
Preferred stock [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 3,284 | 7,192 | ||
Preferred stock [Member] | Level 1 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 0 | 0 | ||
Preferred stock [Member] | Level 2 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | 3,284 | 7,192 | ||
Preferred stock [Member] | Level 3 [Member] | ' | ' | ||
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis | ' | ' | ||
Cash, cash equivalents and short term investments, measured at fair value on a recurring basis | $0 | $0 | ||
[1] | At December 31, 2013 and March 31, 2013, approximately $1.1 million and $1.4 million of the estimated fair value presented were mortgage-backed securities, respectively. |
Recovered_Sheet5
Certain Financial Statement Information Cost and Fair Value of Available-for-Sale Securities (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of cost and estimated fair values of available-for-sale securities with stated maturities by contractual maturity | ' | ' |
Less than 1 year, Cost | $7,259 | $9,205 |
Mature in 1 - 2 years, Cost | 22,341 | 19,843 |
Mature in 3 - 5 years, Cost | 707 | 1,575 |
Mature after 5 years, Cost | 937 | 962 |
Cost, Total | 31,244 | 31,585 |
Less than 1 year, Fair Value | 7,411 | 9,217 |
Mature in 1 - 2 years, Fair Value | 22,369 | 20,040 |
Mature in 3 - 5 years, Fair Value | 771 | 1,649 |
Mature after 5 years, Fair Value | 1,002 | 1,098 |
Fair Value, Total | $31,553 | $32,004 |
Recovered_Sheet6
Certain Financial Statement Information Gross Unrealized Losses (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Gross Unrealized Losses | ' | ' |
Less Than 12 Months of Unrealized Losses, Estimated Fair Value | $13,172 | $3,223 |
Less than 12 Months of Unrealized Losses, Gross Unrealized Losses | -776 | -5 |
12 Months or More of Unrealized Losses, Estimated Fair Value | 383 | 7,104 |
12 Months or More of Unrealized Losses, Gross Unrealized Losses | -97 | -43 |
Total, Estimated Fair Value | 13,555 | 10,327 |
Total Gross Unrealized Losses | -873 | -48 |
Gross Unrealized Gains | 3,503 | 8,082 |
U.S Treasury securities and agency bonds [Member] | ' | ' |
Schedule of Gross Unrealized Losses | ' | ' |
Less Than 12 Months of Unrealized Losses, Estimated Fair Value | 2,566 | 300 |
Less than 12 Months of Unrealized Losses, Gross Unrealized Losses | -4 | 0 |
12 Months or More of Unrealized Losses, Estimated Fair Value | 0 | 0 |
12 Months or More of Unrealized Losses, Gross Unrealized Losses | 0 | 0 |
Total, Estimated Fair Value | 2,566 | 300 |
Total Gross Unrealized Losses | -4 | 0 |
Gross Unrealized Gains | 8 | 10 |
Corporate bonds [Member] | ' | ' |
Schedule of Gross Unrealized Losses | ' | ' |
Less Than 12 Months of Unrealized Losses, Estimated Fair Value | 2,811 | 2,276 |
Less than 12 Months of Unrealized Losses, Gross Unrealized Losses | -4 | -2 |
12 Months or More of Unrealized Losses, Estimated Fair Value | 0 | 113 |
12 Months or More of Unrealized Losses, Gross Unrealized Losses | 0 | 0 |
Total, Estimated Fair Value | 2,811 | 2,389 |
Total Gross Unrealized Losses | -4 | -2 |
Gross Unrealized Gains | 56 | 63 |
Mortgage-backed and asset-backed securities [Member] | ' | ' |
Schedule of Gross Unrealized Losses | ' | ' |
Less Than 12 Months of Unrealized Losses, Estimated Fair Value | 1,451 | 647 |
Less than 12 Months of Unrealized Losses, Gross Unrealized Losses | -47 | -3 |
12 Months or More of Unrealized Losses, Estimated Fair Value | 6 | 0 |
12 Months or More of Unrealized Losses, Gross Unrealized Losses | 0 | -4 |
Total, Estimated Fair Value | 1,457 | 647 |
Total Gross Unrealized Losses | -47 | -7 |
Gross Unrealized Gains | 300 | 355 |
Closed-end bond funds [Member] | ' | ' |
Schedule of Gross Unrealized Losses | ' | ' |
Less Than 12 Months of Unrealized Losses, Estimated Fair Value | 6,344 | 0 |
Less than 12 Months of Unrealized Losses, Gross Unrealized Losses | -721 | 0 |
12 Months or More of Unrealized Losses, Estimated Fair Value | 377 | 6,991 |
12 Months or More of Unrealized Losses, Gross Unrealized Losses | -97 | -39 |
Total, Estimated Fair Value | 6,721 | 6,991 |
Total Gross Unrealized Losses | -818 | -39 |
Gross Unrealized Gains | $2,261 | $5,340 |
Recovered_Sheet7
Certain Financial Statement Information Warranty (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Warranty Reserve Activity | ' | ' | ' | ' |
Beginning balance | $187 | $370 | $220 | $454 |
Charged to costs of revenues | 54 | 96 | 28 | 311 |
Charges incurred | -39 | -108 | -46 | -407 |
Ending balance | $202 | $358 | $202 | $358 |
Recovered_Sheet8
Certain Financial Statement Information Interest Income/Expense (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Interest Income, Net | ' | ' | ' | ' |
Interest income | $519 | $685 | $1,389 | $1,915 |
Net realized gain on short-term investments | 6 | 207 | 3,290 | 1,401 |
Interest income, net | $525 | $892 | $4,679 | $3,316 |
Recovered_Sheet9
Certain Financial Statement Information Net Income/Loss Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Reconciliation of Shares Used to Calculate Basic and Diluted Net (Loss) Income Per Share | ' | ' | ' | ' |
Net loss (USD) | ($7,284) | ($71,562) | ($28,810) | ($116,509) |
Shares used in net loss per share computation: | ' | ' | ' | ' |
Weighted average common shares outstanding, basic | 73,989 | 66,113 | 71,986 | 64,489 |
Net effect of dilutive common share equivalents | 0 | 0 | 0 | 0 |
Weighted average common shares outstanding, diluted | 73,989 | 66,113 | 71,986 | 64,489 |
Basic and diluted net loss per share (in dollars per share) | ($0.10) | ($1.08) | ($0.40) | ($1.81) |
Recovered_Sheet10
Certain Financial Statement Information (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
Share data in Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 22, 2014 |
Options and Restricted Stock Units [Member] | Options and Restricted Stock Units [Member] | Options and Restricted Stock Units [Member] | Options and Restricted Stock Units [Member] | Subsequent Event [Member] | ||||||
Certain Financial Statement Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property held-for-sale, sale price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $40,800,000 |
Gross Unrealized Gains | $3,503,000 | ' | $3,503,000 | ' | $8,082,000 | ' | ' | ' | ' | ' |
Anti-dilutive securities that have been excluded from the net (loss) income, per share computation | 5.6 | 6.8 | 6.1 | 9.4 | ' | 3.8 | 5.4 | 4.7 | 8.7 | ' |
Effect of dilutive securities that have been excluded from the net loss per share computation | ' | ' | ' | ' | ' | 1.8 | 1.4 | 1.4 | 0.7 | ' |
Restructuring_Charges_Details_
Restructuring Charges (Details Textual) (USD $) | 1 Months Ended | 9 Months Ended | 1 Months Ended | |||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 |
December 2012 Restructuring Program [Member] | December 2012 Restructuring Program [Member] | December 2012 Restructuring Program [Member] | December 2012 Restructuring Program [Member] | December 2012 Restructuring Program [Member] | December 2012 Restructuring Program [Member] | August 2013 Restructuring Program [Member] | August 2013 Restructuring Program [Member] | August 2013 Restructuring Program [Member] | August 2013 Restructuring Program [Member] | |
employee | Workforce Reduction [Member] | Workforce Reduction [Member] | Other Operational Expense [Member] | Other Operational Expense [Member] | employee | Workforce Reduction [Member] | Other Operational Expense [Member] | |||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||
Restructuring Charges (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of positions eliminated | 70 | ' | ' | ' | ' | ' | ' | 20 | ' | ' |
Anticipated reduction in expenses | ' | ' | $8 | $9 | $4 | $5 | ' | ' | $3 | $0.50 |
Restructuring costs incurred to date and expected to be incurred | ' | 1.8 | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring costs expected to be recognized | ' | ' | ' | ' | ' | ' | $1 | ' | ' | ' |
Restructuring_Charges_Details_1
Restructuring Charges (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' | ' | ' |
Liability, beginning balance | $187 | $307 | $548 | ' | $548 | ' |
Restructuring charges | 38 | 999 | 93 | 6,218 | 1,130 | 6,218 |
Non-cash items | ' | -272 | ' | ' | ' | ' |
Cash payments | -225 | -847 | -334 | ' | ' | ' |
Liability, ending balance | 0 | 187 | 307 | ' | 0 | ' |
Workforce Reduction | ' | ' | ' | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' | ' | ' |
Liability, beginning balance | 187 | 307 | 548 | ' | 548 | ' |
Restructuring charges | 38 | 727 | 93 | ' | ' | ' |
Non-cash items | ' | 0 | ' | ' | ' | ' |
Cash payments | -225 | -847 | -334 | ' | ' | ' |
Liability, ending balance | 0 | 187 | 307 | ' | 0 | ' |
Asset Impairment | ' | ' | ' | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' | ' | ' |
Liability, beginning balance | 0 | 0 | 0 | ' | 0 | ' |
Restructuring charges | 0 | 272 | 0 | ' | ' | ' |
Non-cash items | ' | -272 | ' | ' | ' | ' |
Cash payments | 0 | 0 | 0 | ' | ' | ' |
Liability, ending balance | $0 | $0 | $0 | ' | $0 | ' |
Veloce_Details_Textual
Veloce (Details Textual) (Veloce Technologies Inc [Member], USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 18 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 20, 2012 |
Veloce Technologies Inc [Member] | ' | ' | ' | ' | ' | ' | ' |
Veloce (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Total consideration to be transferred | ' | $178.50 | $178.50 | ' | $178.50 | ' | $135 |
Research and development expenses incurred | 2.9 | 51.9 | 117 | 42.7 | 56.6 | 169.3 | ' |
Payment of aggregate consideration as cash | 1.2 | 1.1 | ' | 45.4 | 15.9 | ' | ' |
Aggregate shares issued | 0 | 200,000 | ' | 3,800,000 | 2,800,000 | ' | ' |
Stock issued for acquisition, value | 0.2 | 1.1 | ' | 29.2 | 15.9 | ' | ' |
Issuance of additional units | 1,400 | ' | ' | 500,000 | ' | ' | ' |
Issuance of additional units, amount | 0 | ' | ' | 5.9 | ' | ' | ' |
Unallocated units | 900,000 | ' | ' | 900,000 | ' | 900,000 | ' |
Unallocated units, maximum potential value | $9.20 | ' | ' | $9.20 | ' | $9.20 | ' |
Stockholders_Equity_Option_Act
Stockholders' Equity Option Activity (Details) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Schedule of Option Activity Under Stock Incentive Plans | ' |
Number of Shares, Outstanding at the beginning of the year | 3,492 |
Number of Shares, Granted | 40 |
Number of Shares, Exercised | -641 |
Number of Shares, Forfeited | -420 |
Number of Shares, Outstanding at the end of the period | 2,471 |
Number of Shares, Vested at the end of the period | 2,470 |
Schedule of Weighted Average Exercise Price Per Share Under Stock Incentive Plans | ' |
Weighted Average Exercise Price Per Share, Outstanding at the beginning of the year (USD per share) | $10.26 |
Weighted Average Exercise Price Per Share, Granted (USD per share) | $7.35 |
Weighted Average Exercise Price Per Share, Exercised (USD per share) | $9.50 |
Weighted Average Exercise Price Per Share, Forfeited (USD per share) | $11.36 |
Weighted Average Exercise Price Per Share, Outstanding at the end of the period (USD per share) | $10.22 |
Weighted Average Exercise Price Per Share, Vested at the end of the period (USD per share) | $10.22 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 2,344 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $10.31 |
Stockholders_Equity_Options_We
Stockholders' Equity Options Weighted Average Remaining Contractual Life and Exercise Price (Details) (USD $) | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | 31-May-12 | Nov. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Performance-Based RSU [Member] | Performance-Based RSU [Member] | $ 1.68 - $ 7.60 | 7.61 - 7.67 | 7.68 - 11.86 | 11.87 - 14.20 | 14.21 - 23.32 | $ 1.68 - $23.32 | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | '12 years | '18 months | ' | ' | ' | ' | ' | ' |
Weighted Average Remaining Contractual Life and Weighted Average Per Share Exercise Price of Options Outstanding and Options Exercisable | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Range of Exercise Price, minimum (USD per share) | ' | ' | ' | $1.68 | $7.61 | $7.68 | $11.87 | $14.21 | $1.68 |
Range of Exercise Price, maximum (USD per share) | ' | ' | ' | $7.60 | $7.67 | $11.86 | $14.20 | $23.32 | $23.32 |
Number of Shares, Options Outstanding | ' | ' | ' | 562 | 650 | 430 | 493 | 336 | 2,471 |
Weighted average remaining contractual term for options outstanding | '2 years 9 months 12 days | ' | ' | '3 years 3 months 11 days | '2 years 6 months 29 days | '3 years 6 months 18 days | '2 years 7 months 10 days | '1 year 6 months 18 days | '2 years 9 months 9 days |
Weighted Average Exercise Price, Options Outstanding (USD per share) | ' | ' | ' | $6.71 | $7.67 | $10.49 | $12.87 | $16.78 | $10.22 |
Number of Shares, Options Exercisable | ' | ' | ' | 473 | 650 | 406 | 478 | 337 | 2,344 |
Weighted Average Exercise Price, Options Exercisable (USD per share) | ' | ' | ' | $6.63 | $7.67 | $10.42 | $12.89 | $16.78 | $10.31 |
Stockholders_Equity_RSU_Activi
Stockholders' Equity RSU Activity (Details) (Restricted Stock Units (RSUs) [Member]) | 9 Months Ended |
Dec. 31, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' |
Schedule of Restricted Stock Unit Activity | ' |
Restricted Stock Units Outstanding Number of Shares, Outstanding at the beginning of the year | 6,444,000 |
Restricted Stock Units Awarded | 3,069,000 |
Restricted Stock Units Vested | -2,048,000 |
Restricted Stock Units Cancelled | -1,510,000 |
Restricted Stock Units Outstanding Number of Shares, Outstanding at the end of the period | 5,955,000 |
Stockholders_Equity_Details_Te
Stockholders' Equity (Details Textual) (USD $) | 1 Months Ended | 9 Months Ended | 104 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | |||||||||||||||||||||||
Oct. 31, 2008 | Aug. 31, 2004 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2013 | 31-May-13 | 31-May-13 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 30, 2012 | Dec. 31, 2012 | Aug. 30, 2010 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Nov. 30, 2011 | Nov. 30, 2011 | 31-May-12 | Feb. 29, 2012 | Nov. 30, 2011 | Dec. 31, 2013 | Apr. 30, 2011 | Feb. 29, 2012 | Jun. 30, 2012 | 31-May-13 | 31-May-13 | Nov. 30, 2013 | Nov. 30, 2013 | Feb. 29, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | 17-May-09 | 31-May-12 | 31-May-13 | 31-May-12 | 31-May-13 | |
Approved_Plan | RSU plan post May 2006 [Member] | Minimum [Member] | Maximum [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Performance-Based RSU [Member] | Performance-Based RSU [Member] | Performance-Based RSU [Member] | Performance-Based RSU [Member] | Performance-Based RSU [Member] | Performance-Based RSU [Member] | Common Stock Subject to Repurchase [Member] | Performance-Based MSU [Member] | Performance-Based MSU [Member] | Officer [Member] | Officer [Member] | Officer [Member] | Veloce Technologies, Inc. [Member] | Veloce Technologies, Inc. [Member] | Veloce Technologies, Inc. [Member] | First Vesting Period [Member] | First Vesting Period [Member] | Second Vesting Period [Member] | Second Vesting Period [Member] | |||||
FY2014 Short Term Plan [Member] | FY2014 Short Term Plan [Member] | 2012 Employee Stock Purchase Plan [Member] | 2012 Employee Stock Purchase Plan [Member] | 2012 Employee Stock Purchase Plan [Member] | 1998 Employee Stock Purchase Plan [Member] | 1998 Employee Stock Purchase Plan [Member] | RSU plan prior to May 2006 [Member] | RSU plan post May 2006 [Member] | Minimum [Member] | Maximum [Member] | milestone | milestone | April 2011 Plan [Member] | November 2011 and February 2012 Plan [Member] | Minimum [Member] | Maximum [Member] | Restricted Stock Units [Member] | Performance-Based RSU [Member] | Performance-Based RSU [Member] | Performance-Based MSU [Member] | Performance-Based MSU [Member] | |||||||||||||||||
quarter | November 2011 and February 2012 Plan [Member] | November 2011 and February 2012 Plan [Member] | ||||||||||||||||||||||||||||||||||||
Stockholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized for issuance | ' | ' | 2,000,000 | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | ' | 375,000,000 | ' | 375,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued | ' | ' | 74,171,000 | ' | 67,952,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock reserved for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for future issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | ' | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of purchase price of common stock equal to fair market value | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued, employee stock purchase plan | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 300,000 | 0 | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program, authorized amount | ' | $200,000,000 | $15,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in the amount authorized for stock purchase program | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program, shares repurchased | ' | ' | 0 | 100,000 | 17,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program, weighted average price per share | ' | ' | ' | $5.18 | $10.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stockholder-approved plans | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of plans unapproved by stockholders | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award expiration period, in years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 years | ' | '18 months | ' | '3 years | '18 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period, in years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | '4 years | '1 year | '18 months | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vested in first period of employment | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares outstanding | ' | ' | 2,471,000 | ' | 3,492,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining contractual term for options outstanding | ' | ' | '2 years 9 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate pretax intrinsic value of options exercised | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax intrinsic value of options outstanding | ' | ' | 9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax intrinsic value of options exercisable | ' | ' | 8,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, closing price per share | ' | ' | $13.37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award vesting period, quarters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock units awarded | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,069,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 300,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' |
Number of milestones | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grants in period, fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,200,000 | 3,700,000 | ' | ' | ' | ' | ' | ' | ' |
Restricted stock units vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,048,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of milestones completed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award performance period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | '3 years |
Award vesting percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 150.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award pay out percentage | ' | ' | ' | ' | ' | ' | 50.00% | 150.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining contractual term for the restricted stock units outstanding, in years | ' | ' | '1 year 0 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate pre-tax intrinsic value of restricted stock units outstanding which includes performance based awards which are subject to milestone attainments | ' | ' | 79,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement by Share Based Payment Award Equity Other than Options Aggregate Pre Tax Intrinsic Value Released | ' | ' | 18,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years of development work to be performed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Stock-based compensation expense related to the acceleration of Veloce warrants | ' | ' | $0 | $1,289,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,300,000 | $1,300,000 | ' | ' | ' | ' | ' |
Award vesting percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66.67% | ' | 33.33% | ' |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (USD $) | 9 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Employee Stock Options [Member] | ' | ' |
Schedule of Weighted-Average Assumptions Used to Estimate the Fair Value of Stock Options | ' | ' |
Expected life | '4 years 4 months 24 days | '4 years 6 months |
Risk-free interest rate | 0.60% | 0.70% |
Volatility | 49.00% | 54.00% |
Dividend yield | 0.00% | 0.00% |
Weighted average fair value | $2.95 | $2.47 |
Employee Stock Purchase Plans [Member] | ' | ' |
Schedule of Weighted-Average Assumptions Used to Estimate the Fair Value of Stock Options | ' | ' |
Expected life | '6 months | '6 months |
Risk-free interest rate | 0.10% | 0.20% |
Volatility | 57.00% | 50.00% |
Dividend yield | 0.00% | 0.00% |
Weighted average fair value | $3.67 | $1.50 |
StockBased_Compensation_Detail1
Stock-Based Compensation (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units | ' | ' | ' | ' |
Stock options (including employee stock purchase program) | $5,879 | $6,211 | $13,441 | $21,451 |
Stock-based compensation expensed from inventory | -3 | -11 | 11 | -94 |
Total stock-based compensation expense | 5,882 | 6,222 | 13,430 | 21,545 |
Stock Options [Member] | ' | ' | ' | ' |
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units | ' | ' | ' | ' |
Stock options (including employee stock purchase program) | 648 | 935 | 1,987 | 3,024 |
Restricted Stock Units [Member] | ' | ' | ' | ' |
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units | ' | ' | ' | ' |
Stock options (including employee stock purchase program) | $5,231 | $5,276 | $11,454 | $18,427 |
StockBased_Compensation_Detail2
Stock-Based Compensation (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Summary of Stock-Based Compensation Expense | ' | ' | ' | ' |
Stock based compensation | $5,879 | $6,211 | $13,441 | $21,451 |
Stock-based compensation expensed from inventory | 3 | 11 | -11 | 94 |
Total stock-based compensation expense | 5,882 | 6,222 | 13,430 | 21,545 |
Cost of Revenues [Member] | ' | ' | ' | ' |
Summary of Stock-Based Compensation Expense | ' | ' | ' | ' |
Stock based compensation | 118 | 147 | 353 | 502 |
Research and Development [Member] | ' | ' | ' | ' |
Summary of Stock-Based Compensation Expense | ' | ' | ' | ' |
Stock based compensation | 1,545 | 2,814 | 4,867 | 10,733 |
Selling, General and Administrative [Member] | ' | ' | ' | ' |
Summary of Stock-Based Compensation Expense | ' | ' | ' | ' |
Stock based compensation | $4,216 | $3,250 | $8,221 | $10,216 |
StockBased_Compensation_Detail3
Stock-Based Compensation (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | |
Stock Based Compensation (Textual) [Abstract] | ' | ' | ' | ' | ' | ' |
Weighted average grant-date fair value per share of the restricted stock units awarded | $9.84 | ' | $6.13 | $8.57 | $5.71 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Forfeiture Rate | ' | 6.70% | ' | ' | ' | 6.60% |
Unearned stock-based compensation | $21,700,000 | ' | ' | $21,700,000 | ' | ' |
Weighted-average period over which the unearned stock-based compensation is expected to be recognized, years | ' | ' | ' | '1 year 7 months 18 days | ' | ' |
Stock-based compensation expense excluding acceleration of Veloce warrants | 5,882,000 | ' | 6,222,000 | 13,430,000 | 21,545,000 | ' |
Stock-based compensation expense related to the acceleration of Veloce warrants | ' | ' | ' | 0 | 1,289,000 | ' |
Veloce Technologies Inc [Member] | ' | ' | ' | ' | ' | ' |
Stock Based Compensation (Textual) [Abstract] | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense related to the acceleration of Veloce warrants | ' | ' | ' | $1,300,000 | $1,300,000 | ' |
Contingencies_Details
Contingencies (Details) | 1 Months Ended | 9 Months Ended | |
Jan. 31, 2012 | Jan. 31, 2009 | Dec. 31, 2013 | |
Amendments | Company | ||
Contingencies (Textual) [Abstract] | ' | ' | ' |
Companies named as Potentially Responsible Parties (more than) | ' | ' | 100 |
Amendments approved to consent decree | ' | 2 | ' |
Percent of contribution to the total waste | 0.50% | ' | ' |
Sale_of_TPack_AS_Details
Sale of TPack A/S (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 22, 2013 | |
TPack [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' |
Divestiture of Interest in Consolidated Subsidiaries, Sales Price | ' | ' | ' | ' | $33,500,000 |
Agreed upon price for sale of entity | ' | ' | ' | ' | 34,000,000 |
Working capital adjustment to sale price | ' | ' | ' | ' | 500,000 |
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] | ' | ' | ' | ' | ' |
Total proceeds, net of working capital adjustment | ' | ' | ' | ' | 30,175,000 |
Net assets and liabilities | ' | ' | ' | ' | -184,000 |
Goodwill write off | ' | ' | ' | ' | -1,757,000 |
Intangibles write off | ' | ' | ' | ' | -11,404,000 |
Holdback amount | ' | ' | ' | ' | 3,353,000 |
Legal fees and other costs | ' | ' | ' | ' | -484,000 |
Gain on sale of TPack | 0 | 0 | 19,699,000 | 0 | 19,699,000 |
Cash, cash equivalents and short term investments | ' | ' | ' | ' | $700,000 |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event [Member], USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Jan. 22, 2014 |
Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Property held-for-sale, sale price | $40.80 |
Proceeds from nonrefundable cash deposit | $7 |