Electro Scientific Industries (ESIO) 10-Q 6 Aug 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 27, 2015	Aug. 03, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 27, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Registrant Name	ELECTRO SCIENTIFIC INDUSTRIES INC
Entity Central Index Key	726,514
Current Fiscal Year End Date	--03-26
Entity Well-know Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		30,909,649

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Current assets:
Cash and cash equivalents	$ 53,831	$ 50,994
Short-term investments	4,661	6,612
Accounts Receivable, Net, Current	49,234	42,295
Inventories	57,255	56,637
Shipped systems pending acceptance	2,127	2,516
Deferred income taxes, net	152	178
Other current assets	5,301	6,090
Total current assets	172,561	165,322
Non-current assets:
Property, plant and equipment, net	25,219	25,858
Non-current deferred income taxes, net	40	174
Goodwill	7,445	7,717
Acquired intangible assets, net	8,601	8,958
Other assets	12,214	13,211
Total assets	226,080	221,240
Current liabilities:
Accounts payable	16,390	9,514
Accrued liabilities	18,720	18,666
Deferred Tax Liabilities, Net, Current	174	173
Deferred revenue	14,961	12,376
Total current liabilities	50,245	40,729
Non-current liabilities:
Non-current income taxes payable	1,322	1,176
Deferred Tax Liabilities, Net, Noncurrent	284	443
Liabilities, Other than Long-term Debt, Noncurrent	$ 1,918	$ 1,571
Commitments and Contingencies
Shareholders' equity:
Preferred stock, without par value	$ 0	$ 0
Common stock, without par value	190,453	189,134
Retained earnings	(18,105)	(11,741)
Accumulated other comprehensive income	(37)	(72)
Total shareholders' equity	172,311	177,321
Total liabilities and shareholders' equity	$ 226,080	$ 221,240

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 28, 2013	Mar. 30, 2013
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 842	$ 712
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	104,306	102,901
Finite-Lived Intangible Assets, Accumulated Amortization	$ 20,235	$ 19,880
Preferred stock, without par value	$ 0	$ 0
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, without par value	$ 0	$ 0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, issued	31,321,000	30,704,000
Common stock, outstanding	31,321,000	30,704,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Net sales	$ 43,091	$ 35,030
Sales Revenue, Goods, Net	32,062	23,424
Sales Revenue, Services, Net	11,029	11,606
Cost of sales	27,714	22,742
Cost of Goods Sold	21,285	16,934
Cost of Services	6,429	5,808
Gross profit	15,377	12,288
Operating expenses:
Selling, service and administration	12,617	12,153
Research, development and engineering	8,645	9,145
Business Combination, Integration Related Costs	154	0
Restructuring Charges	62	0
Net operating expenses	21,478	21,298
Operating (loss) income	(6,101)	(9,010)
Non-operating (expense) income:
Interest and other (expense) income, net	(5)	46
Other Nonoperating Income (Expense)	(5)	46
Income (loss) before income taxes	(6,106)	(8,964)
Provision for (benefit from) income taxes	258	(713)
Net (loss) income	$ (6,364)	$ (8,251)
Net (loss) income per share - basic	$ (0.20)	$ (0.27)
Net (loss) income per share - diluted	$ (0.20)	$ (0.27)
Weighted average number of shares - basic	31,177	30,353
Weighted average number of shares - diluted	31,177	30,353
Cash dividends paid per common share	$ 0	$ 0.08

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Statement - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Net (loss) income	$ (6,364)	$ (8,251)
Foreign currency translation adjustment, net of taxes	31	534
Accumulated other comprehensive loss related to benefit plan obligations, net of taxes	4	3
Net unrealized (loss) gain on available-for-sale securities, net of taxes	0	(1)
Comprehensive (loss) income	$ (6,329)	$ (7,715)

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Foreign currency translation adjustment, taxes	$ 17	$ 0
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	2	2
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax	$ 0	$ 0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (6,364)	$ (8,251)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	1,900	1,957
Amortization of acquired intangible assets	357	539
Share-based compensation expense	1,387	1,330
Gain on sale of property and equipment, net	3	(19)
Provision for Doubtful Accounts	127	0
Decrease (increase) in deferred income taxes	(44)	(103)
Changes in operating accounts, net of acquisitions:
Decrease (increase) in trade receivables, net	(5,338)	4,958
Decrease (increase) in inventories	(552)	(1,609)
Decrease (increase) in shipped systems pending acceptance	389	(493)
Decrease (increase) in other current assets	961	234
Increase (decrease) in accounts payable and accrued liabilities	6,916	441
Increase (decrease) in deferred revenue	2,585	1,753
Net cash (used in) provided by operating activities	2,327	737
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investments	(162,395)	(133,765)
Proceeds from sales and maturities of investments	164,346	152,328
Purchase of property, plant and equipment	(1,344)	(1,158)
Proceeds from sale of property, plant, and equipment	0	105
Decrease (increase) in other assets	(138)	(276)
Net cash (used in) provided by investing activities	469	17,234
CASH FLOWS FROM FINANCING ACTIVITIES
Cash dividends paid to shareholders	0	(2,417)
Payments Related to Tax Withholding for Share-based Compensation	(531)	(1,100)
Proceeds from Issuance of Common Stock	401	485
Payments for Repurchase of Common Stock	0	(1,330)
Net cash (used in) provided by financing activities	(130)	(4,362)
Effect of exchange rate changes on cash	171	389
NET CHANGE IN CASH AND CASH EQUIVALENTS	2,837	13,998
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	50,994	68,461
CASH AND CASH EQUIVALENTS AT END OF PERIOD	53,831	82,459
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest	(57)	(2)
Cash paid for income taxes	(299)	(320)
Income tax refunds received	83	2
Non-cash additions to property, plant and equipment	$ 196	$ 40

The Company

The Company	3 Months Ended
	Jun. 27, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	Basis of Presentation These unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted in these interim statements. Accordingly, these condensed consolidated financial statements are to be read in conjunction with the financial statements and notes included in the Company's Annual Report on Form 10-K for its fiscal year ended March 28, 2015 . These interim statements include all adjustments (consisting of only normal recurring adjustments and accruals) necessary for a fair presentation of results for the interim periods presented. The results for interim periods are not necessarily indicative of the results of operations for the entire year. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates. Management believes that the estimates used are reasonable. Significant estimates made by management include: revenue recognition; inventory valuation; product warranty reserves; allowance for doubtful accounts; accrued restructuring costs; share-based compensation; income taxes including the valuation of deferred tax assets; fair value measurements; valuation of cost-method equity investments; valuation of long-lived assets; valuation of goodwill; and valuation of acquired technology. There have been no significant changes to the Company's significant accounting policies from those presented in Note 2 “Summary of Significant Accounting Policies” to the consolidated financial statements included in the Company's Annual Report on Form 10-K for its fiscal year ended March 28, 2015 . All references to years or quarters relate to fiscal years or fiscal quarters unless otherwise noted. In the current period, certain prior period amounts have been revised, which conforms to current year presentation. Please see Note 7 Trade Accounts Receivable and Note 11 Accrued Current & Other Liabilities .

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Jun. 27, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements issued by the financial accounting standards board (FASB) and the SEC did not have a material impact on the Company's financial statements.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 27, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial Assets Measured at Fair Value ASC Topic 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include the following: • Level 1 , defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; • Level 2 , defined as inputs that are observable either directly or indirectly such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and other inputs that can be corroborated by observable market data; and • Level 3 , defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company’s fair value hierarchy for its financial assets measured at fair value on a recurring basis as of June 27, 2015 and March 28, 2015 was as follows (in thousands): June 27, 2015 Level 1 Level 2 Level 3 Total Money market securities $ 2,997 $ — $ — $ 2,997 Commercial paper — 21,664 — 21,664 Municipal bonds — 5,853 — 5,853 Forward purchase or (sale) contracts: Japanese Yen — 14 — 14 New Taiwan Dollar — (7 ) — (7 ) Korean Won — (77 ) — (77 ) Euro — (163 ) — (163 ) British Pound — 86 — 86 Chinese Renminbi — (6 ) — (6 ) March 28, 2015 Level 1 Level 2 Level 3 Total Money market securities $ 14,280 $ — $ — $ 14,280 Corporate bonds — 853 — 853 Municipal bonds — 3,872 — 3,872 Government agencies — 2,702 — 2,702 Commercial paper — 15,537 — 15,537 Forward purchase or (sale) contracts: Japanese Yen — (7 ) — (7 ) New Taiwan Dollar — 17 — 17 Korean Won — (44 ) — (44 ) Euro — 277 — 277 British Pound — (133 ) — (133 ) Chinese Renminbi — (34 ) — (34 ) For Level 1 assets, the Company utilized quoted prices in active markets for identical assets. For Level 2 assets, exclusive of forward contracts, the Company utilized quoted prices in active markets for similar assets. For forward contracts, spot prices at June 27, 2015 and March 28, 2015 were utilized to calculate fair values. During the first quarter of 2016 , there were no transfers between Level 1, Level 2 or Level 3 assets. Investments The Company’s investments at June 27, 2015 and March 28, 2015 were as follows (in thousands): Unrealized June 27, 2015 Cost Gain Loss Fair Value Available-for-sale securities (current): Commercial paper $ 21,664 $ — $ — $ 21,664 Municipal Bonds 5,852 1 — 5,853 $ 27,516 $ 1 $ — $ 27,517 Unrealized March 28, 2015 Cost Gain Loss Fair Value Available-for-sale securities (current): Corporate Bonds $ 853 $ — $ — $ 853 Municipal Bonds 3,870 2 — 3,872 Government agencies 2,702 — — 2,702 Commercial paper 15,537 — — 15,537 $ 22,962 $ 2 $ — $ 22,964 For purposes of determining gross realized gains and losses and reclassification out of accumulated other comprehensive loss, the cost of securities sold is based on specific identification. Net unrealized holding gains and losses on current available-for-sale securities included in accumulated other comprehensive loss were insignificant as of June 27, 2015 and March 28, 2015 . Investments with underlying maturities within one year at June 27, 2015 totaled $27.5 million .

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Jun. 27, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation The Company recognizes expense related to the fair value of its share-based compensation awards using the Black-Scholes model to estimate the fair value of awards on the date of grant, except for unvested restricted stock unit awards which are valued at the fair value of the Company's stock on the date of award. The Company recognizes compensation expense for all share-based compensation awards on a straight-line basis over the requisite service period of the award. Stock-settled stock appreciation rights (SARs) grant the right to receive shares of the Company's stock equivalent to the increase in stock value of a specified number of shares over a specified period of time, divided by the stock price at the time of exercise. The Company uses the Black-Scholes model to estimate the fair value of SARs. Similar to options, SARs are recorded at the fair value of the award at grant date and the expense is recognized on a straight-line basis over the requisite service period of the award. The Company granted a total of 613,700 restricted stock unit (RSUs) awards and 467,000 SARs during the first quarter of 2016 . In the same period, the Company did not grant any stock options. The Company granted 451,400 RSUs and 230,000 SARs during the first quarter of 2015 . Share-based compensation expense was included in the Company’s Condensed Consolidated Statements of Operations as follows: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Cost of sales $ 129 $ 169 Selling, general and administrative 715 865 Research, development and engineering 219 296 Total share-based compensation expense $ 1,063 $ 1,330 No share-based compensation costs were capitalized in the first quarter of 2016 . As of June 27, 2015 , the Company had $10.2 million of total unrecognized share-based compensation costs, net of estimated forfeitures, which are expected to be recognized over a weighted average period of 2.0 years. The amounts shown in the table above for the quarter ended June 27, 2015, do not include $324 thousand in expense related to acquisitions. Refer to Note 5 Business Acquisitions for discussion of stock amounts considered compensation related to acquisitions.

Business Acquisitions

Business Acquisitions	3 Months Ended
	Jun. 27, 2015
Business Combinations [Abstract]
Business Acquisitions	Business Acquisitions Fiscal 2015 On January 15, 2015, the Company acquired all of the outstanding shares of Wuhan Topwin Optoelectronics Technology Co., Ltd. (Topwin), a Chinese manufacturer of laser-based systems and as of March 28, 2015 the company performed a preliminary determination and allocation of purchase price to the identifiable acquired assets and liabilities. In the first quarter of 2016, the Company finalized the determination of purchase price, including the valuation of total consideration and the related contractual adjustments to working capital, and valuation of acquired assets and liabilities. Consideration was comprised of $7.6 million in cash and 748,944 of ESI common stock issuable over a three year period, valued at approximately $2.9 million as of the acquisition date. Out of the $2.9 million in equity, one-half, or 374,472 shares, is contingent-based consideration and one-half, or 374,472 shares, is non-contingent and will be issued over a three year period beginning June 30, 2015. The contingent consideration is based on future performance of Topwin, as evaluated against targets for net income for each year over a three year period. One-third of the contingent shares will be issued after each year if the target is met for that year; however failing to meet stated targets will result in none of the contingent shares being issued for that year. As of the acquisition date, the fair value of 374,472 shares of contingent consideration was estimated to be $0.4 million and of the 374,472 shares of non-contingent consideration was estimated to be $2.5 million . The fair value of the non-contingent and contingent shares to be issued over the three year period was determined based on the estimated share price as of the issuance date derived through Monte Carlo simulation, discounted back to the acquisition date. The value of the contingent shares included consideration of the estimated probability of attainment of the net income targets. Analysis supporting the purchase price allocation included a valuation of assets and liabilities as of the closing date, an analysis of intangible assets and a detailed review of the opening balance sheet to determine other significant adjustments required to recognize assets and liabilities at fair value. Additionally, the Company will issue, on the same terms described above, approximately 513,328 shares valued at $2.0 million , which, together with cash amounts of $0.2 million , is treated as compensation to a Principal in the Company who was also a former shareholder of Topwin. Compensation expense will be recognized over the Principal's term of employment or related service period required by the purchase agreement through December 31, 2017. In the first quarter of fiscal 2016, we have recognized $366 thousand in compensation expense related to this agreement, comprised of $324 thousand in share-related amounts and $42 thousand in earned cash compensation. The total purchase price of approximately $10.5 million , net of cash acquired, was allocated to the underlying assets acquired and liabilities assumed based on their fair values, as shown in the following table: (In thousands) Accounts receivable $ 454 Inventory 544 Prepaid expense and other current assets 295 Property, plant and equipment 23 Acquired intangibles 3,618 Goodwill 7,445 Accounts payable and other accrued liabilities (1,859 ) Total purchase price, net of cash acquired $ 10,520 The acquisition is expected to enable the Company to gain entry into the low total-cost-of-ownership solutions market in China and the goodwill of approximately $7.4 million recognized as a result of the acquisition was assigned to the Topwin reporting unit. The premium paid over the fair value of the individual assets acquired and liabilities assumed reflects the Company’s view that this acquisition was the result of a competitive bid process and has provided the Company with innovative design and manufacturing capabilities for laser-based manufacturing solutions across a variety of complementary applications, together with direct access to local China market, supply chain and opto-electronics knowledge center. None of the goodwill is expected to be deductible for tax purposes. As a result of the acquisition, the Company recorded approximately $4.9 million of identifiable assets, including $3.6 million of identifiable intangible assets, and $ 1.9 million of identifiable liabilities. The acquired intangible assets consist primarily of $3.5 million of developed technology and will be amortized over their useful lives, which range from one to ten years. In the first quarter of 2016, the Company incurred approximately $154 thousand in acquisition-related costs. In 2015, the Company incurred approximately $0.8 million in acquisition-related costs which were included in Selling, general and administrative expenses in the Consolidated Statements of Operations. The operating results of this acquisition are included in the Company’s results of operations since the date of acquisition. Pro forma financial information has not been provided for the acquisition of Topwin as it was not material to the Company’s operations and overall financial position.

Inventories

Inventories	3 Months Ended
	Jun. 27, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are principally valued at standard costs, which approximate the lower of cost (first-in, first-out) or market. Components of inventories were as follows: (In thousands) Jun 27, 2015 Mar 28, 2015 Raw materials and purchased parts $ 37,836 $ 37,991 Work-in-process 14,525 14,834 Finished goods 4,894 3,812 $ 57,255 $ 56,637

Trade Accounts Receivable (Note

Trade Accounts Receivable (Notes)	3 Months Ended
	Jun. 27, 2015
Trade Accounts Receivable [Abstract]
Trade Accounts receivable [Text Block]	Trade Accounts Receivable Trade accounts receivable consisted of the following: (In thousands) Jun 27, 2015 Mar 28, 2015 Current trade accounts receivable, net $ 49,234 $ 42,295 Non-current trade accounts receivable 2,054 3,656 $ 51,288 $ 45,951 As noted above, $2.1 million and $3.7 million of trade accounts receivable were non-current as of June 27, 2015 and March 28, 2015 , respectively, and were included in Other assets in the Condensed Consolidated Balance Sheets. Presentation of $3.7 million of non-current trade accounts receivable previously shown as current at March 28, 2015 was revised to reflect these amounts as non-current, which conforms to current period presentation.

Other Current Assets

Other Current Assets	3 Months Ended
	Jun. 27, 2015
Disclosure Other Current Assets [Abstract]
Other Current Assets	Other Current Assets Other current assets consisted of the following: (In thousands) Jun 27, 2015 Mar 28, 2015 Prepaid expenses $ 1,892 $ 2,595 Acquisition related receivable 1,118 1,180 Value added tax receivable 1,129 802 Other 1,162 1,513 $ 5,301 $ 6,090

Other Assets

Other Assets	3 Months Ended
	Jun. 27, 2015
Other Assets, Noncurrent Disclosure [Abstract]
Other Assets	Other Assets Other assets consisted of the following: (In thousands) Jun 27, 2015 Mar 28, 2015 Consignment and demo equipment, net $ 7,441 $ 7,164 Non-current trade accounts receivable 2,054 3,656 Long term deposits and other 2,719 2,391 $ 12,214 $ 13,211

Goodwill (Notes)

Goodwill (Notes)	3 Months Ended
	Jun. 27, 2015
Goodwill [Abstract]
Goodwill Disclosure [Text Block]	Goodwill In the fourth quarter of 2015, the Company realigned its products into two segments as a result of changes in the go-to-market strategies, common customer characteristics, and information utilized to manage our business. This reorganization required the Company to reassign goodwill to the new reporting units based on the relative fair value of the respective reporting units. The Company performed its annual review of goodwill for impairment in the fourth quarter of fiscal 2015 and as a result of that analysis recorded an estimated non-cash goodwill impairment charge of $7.9 million to write down the goodwill to its implied fair value as of March 28, 2015 , subject to finalization of a step two impairment analysis. The step two impairment analysis has now been completed and the impairment charge is unchanged.

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Jun. 27, 2015
Disclosure Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued Current & Other Liabilities Accrued current liabilities consisted of the following: (In thousands) Jun 27, 2015 Mar 28, 2015 Payroll-related liabilities $ 7,016 $ 6,723 Product warranty accrual 3,493 3,342 Restructuring costs payable 1,853 1,997 Purchase order commitments and receipts 1,825 1,815 Professional fees payable 1,624 1,237 Customer deposits 692 1,057 Value added taxes payable 306 474 Freight accrual 210 171 Income taxes payable 11 83 Other 1,690 1,767 $ 18,720 $ 18,666 Other liabilities consisted of the following: (In thousands) Jun 27, 2015 Mar 28, 2015 Product warranty accrual $ 528 $ — Other non-current liabilities 1,390 1,571 $ 1,918 $ 1,571 Presentation of $1.6 million of Other non-current liabilities previously shown as current at March 28, 2015 was revised to reflect these amounts as non-current, which conforms to current period presentation.

Product Warranty

Product Warranty	3 Months Ended
	Jun. 27, 2015
Product Warranties Disclosures [Abstract]
Product Warranty	Product Warranty The following is a reconciliation of the changes in the product warranty accrual: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Product warranty accrual, beginning $ 3,342 $ 4,215 Warranty charges incurred, net (1,484 ) (1,940 ) Provision for warranty charges 2,163 1,212 Product warranty accrual, ending $ 4,021 $ 3,487 Net warranty charges incurred include labor charges and costs of replacement parts for system repairs under warranty. These costs are recorded net of any estimated cost recoveries resulting from either successful repair of damaged parts or from warranties offered by the Company’s suppliers for defective components. The provision for warranty charges reflects the estimate of future anticipated net warranty costs to be incurred for all products under warranty at quarter end and is recorded to cost of sales. Of the total of $4.0 million in product warranty accrual at June 27, 2015 , $0.5 million is non-current and is included in Other liabilities on the Condensed Consolidated Balance Sheets.

Deferred Revenue

Deferred Revenue	3 Months Ended
	Jun. 27, 2015
Deferred Revenue Disclosure [Abstract]
Deferred Revenue	Deferred Revenue Generally, revenue is recognized upon fulfillment of acceptance criteria at the Company's factory and title transfer which frequently occurs at the time of delivery to a common carrier. Revenue is deferred whenever title transfer is pending and/or acceptance criteria have not yet been fulfilled. Deferred revenue occurrences include sales to Japanese customers, shipments of substantially new products and shipments with custom specifications and acceptance criteria. In sales involving multiple element arrangements, the relative selling price of any undelivered elements, including installation services, is deferred until the elements are delivered and acceptance criteria are met. Revenue related to maintenance and service contracts is deferred and recognized ratably over the duration of the contracts. The following is a reconciliation of the changes in deferred revenue: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Deferred revenue, beginning $ 12,376 $ 10,515 Revenue deferred 15,720 11,808 Revenue recognized (13,135 ) (10,055 ) Deferred revenue, ending $ 14,961 $ 12,268

(Loss) Earnings Per Share

(Loss) Earnings Per Share	3 Months Ended
	Jun. 27, 2015
Earnings Per Share [Abstract]
(Loss) Earnings Per Share	Loss per Share The following is a reconciliation of weighted average shares outstanding used in the calculation of basic and diluted earnings per share: Fiscal quarter ended (In thousands, except per share data) Jun 27, 2015 Jun 28, 2014 Net loss $ (6,364 ) $ (8,251 ) Weighted average shares used for basic earnings per share 31,177 30,353 Incremental diluted shares — — Weighted average shares used for diluted earnings per share 31,177 30,353 Net loss per share: Net loss — basic $ (0.20 ) $ (0.27 ) Net loss — diluted $ (0.20 ) $ (0.27 ) Awards of options, SARs and unvested RSUs representing an additional 3.6 million and 3.3 million shares of stock for the first quarters of 2016 and 2015 , respectively, were not included in the calculation of diluted net earnings per share because their effect would have been antidilutive.

Segment and Geographic Informat

Segment and Geographic Information	3 Months Ended
	Jun. 27, 2015
Segment Reporting [Abstract]
Product, segment, and Geographic	Segment and Geographic Information Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. Our chief operating decision maker is our Chief Executive Officer. Prior to the fourth quarter of 2015, we operated in one segment, high-technology manufacturing equipment, which was comprised of products that were classified in three groups: interconnect and micromachining, semiconductor and component. As a result of changes in our go-to-market strategies, common customer characteristics, and information utilized to manage our business, we realigned our products into two segments. Since the fourth quarter 2015 ESI has operated in two segments, Component Processing and Micromachining. Net sales by segment were as follows: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Component Processing $ 38,284 $ 30,298 Micromachining 4,807 4,732 $ 43,091 $ 35,030 Gross profit by segment was as follows: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Component Processing $ 14,110 $ 12,567 Micromachining 1,662 337 Corporate and other (395 ) (616 ) $ 15,377 $ 12,288 Net sales by geographic area, based on the location of the end user, were as follows: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Asia $ 33,536 $ 24,718 Americas 6,356 6,174 Europe 3,199 4,138 $ 43,091 $ 35,030

Restructuring and Cost Manageme

Restructuring and Cost Management Plans	3 Months Ended
	Jun. 27, 2015
Restructuring and Related Activities [Abstract]
Restructuring and Cost Management Plans	Restructuring and Cost Management Plans In March 2015, as a part of the plan to streamline its manufacturing and development activities, the Company initiated a restructuring plan to close the assembly plant and development center located in Chelmsford, Massachusetts. The estimated completion date of the plan is the end of fiscal 2016. See the Company's Form 10-K for the year ended March 28, 2015 for additional information related to restructuring and cost management plans. Net restructuring costs of $0.1 million in the first quarter of 2016 included severance and wind-up costs. These costs relate to the restructuring plan described above and our previously disclosed action to close our Beijing facility. At June 27, 2015 and March 28, 2015 , the amount of unpaid restructuring costs included in accrued liabilities was $1.9 million and $2.0 million , respectively. The following table presents the amounts related to restructuring costs payable (in thousands): Restructuring & cost management amounts payable as of March 28, 2015 $ 1,997 Employee severance and related benefits: Cash payments (206 ) Costs incurred and other adjustments 62 Restructuring & cost management amounts payable as of June 27, 2015 $ 1,853

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Jun. 27, 2015
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Share Repurchase Program In December 2011, the Board of Directors authorized a share repurchase program totaling $20.0 million to acquire shares of our outstanding common stock. The repurchases are to be made at management’s discretion in the open market or in privately negotiated transactions in compliance with applicable securities laws and other legal requirements and are subject to market conditions, share price and other factors. The Company did not repurchase any shares during the first quarter of 2016. In the first quarter of 2015 the Company repurchased 207,738 shares for $1.5 million under this authorization at an average price of $7.01 per share, calculated inclusive of commissions and fees. There is no fixed completion date for the repurchase program. Dividends In February 2015, the Board of Directors suspended the quarterly dividend which was adopted by the Company in December 2011. The Company paid dividends in the first three quarters of 2015 under the 2011 dividend policy in the aggregate amount of $0.24 per share. The Company did not pay any dividends in the first quarter of 2016.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jun. 27, 2015
Fair Value Disclosures [Abstract]
Fair Value Hierarchy for Financial Assets Measured at Fair Value on Recurring Basis	The Company’s fair value hierarchy for its financial assets measured at fair value on a recurring basis as of June 27, 2015 and March 28, 2015 was as follows (in thousands): June 27, 2015 Level 1 Level 2 Level 3 Total Money market securities $ 2,997 $ — $ — $ 2,997 Commercial paper — 21,664 — 21,664 Municipal bonds — 5,853 — 5,853 Forward purchase or (sale) contracts: Japanese Yen — 14 — 14 New Taiwan Dollar — (7 ) — (7 ) Korean Won — (77 ) — (77 ) Euro — (163 ) — (163 ) British Pound — 86 — 86 Chinese Renminbi — (6 ) — (6 ) March 28, 2015 Level 1 Level 2 Level 3 Total Money market securities $ 14,280 $ — $ — $ 14,280 Corporate bonds — 853 — 853 Municipal bonds — 3,872 — 3,872 Government agencies — 2,702 — 2,702 Commercial paper — 15,537 — 15,537 Forward purchase or (sale) contracts: Japanese Yen — (7 ) — (7 ) New Taiwan Dollar — 17 — 17 Korean Won — (44 ) — (44 ) Euro — 277 — 277 British Pound — (133 ) — (133 ) Chinese Renminbi — (34 ) — (34 )
Investments	he Company’s investments at June 27, 2015 and March 28, 2015 were as follows (in thousands): Unrealized June 27, 2015 Cost Gain Loss Fair Value Available-for-sale securities (current): Commercial paper $ 21,664 $ — $ — $ 21,664 Municipal Bonds 5,852 1 — 5,853 $ 27,516 $ 1 $ — $ 27,517 Unrealized March 28, 2015 Cost Gain Loss Fair Value Available-for-sale securities (current): Corporate Bonds $ 853 $ — $ — $ 853 Municipal Bonds 3,870 2 — 3,872 Government agencies 2,702 — — 2,702 Commercial paper 15,537 — — 15,537 $ 22,962 $ 2 $ — $ 22,964

Share-Based Compensation Expens

Share-Based Compensation Expense (Tables)	3 Months Ended
	Jun. 27, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Share-based compensation expense was included in the Company’s Condensed Consolidated Statements of Operations as follows: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Cost of sales $ 129 $ 169 Selling, general and administrative 715 865 Research, development and engineering 219 296 Total share-based compensation expense $ 1,063 $ 1,330

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 27, 2015
Inventory Disclosure [Abstract]
Components of Inventories	Components of inventories were as follows: (In thousands) Jun 27, 2015 Mar 28, 2015 Raw materials and purchased parts $ 37,836 $ 37,991 Work-in-process 14,525 14,834 Finished goods 4,894 3,812 $ 57,255 $ 56,637

Other Current Assets (Tables)

Other Current Assets (Tables)	3 Months Ended
	Jun. 27, 2015
Disclosure Other Current Assets [Abstract]
Other Current Assets	Other current assets consisted of the following: (In thousands) Jun 27, 2015 Mar 28, 2015 Prepaid expenses $ 1,892 $ 2,595 Acquisition related receivable 1,118 1,180 Value added tax receivable 1,129 802 Other 1,162 1,513 $ 5,301 $ 6,090

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Jun. 27, 2015
Other Assets, Noncurrent Disclosure [Abstract]
Other Assets	Other assets consisted of the following: (In thousands) Jun 27, 2015 Mar 28, 2015 Consignment and demo equipment, net $ 7,441 $ 7,164 Non-current trade accounts receivable 2,054 3,656 Long term deposits and other 2,719 2,391 $ 12,214 $ 13,211

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Jun. 27, 2015
Disclosure Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued current liabilities consisted of the following: (In thousands) Jun 27, 2015 Mar 28, 2015 Payroll-related liabilities $ 7,016 $ 6,723 Product warranty accrual 3,493 3,342 Restructuring costs payable 1,853 1,997 Purchase order commitments and receipts 1,825 1,815 Professional fees payable 1,624 1,237 Customer deposits 692 1,057 Value added taxes payable 306 474 Freight accrual 210 171 Income taxes payable 11 83 Other 1,690 1,767 $ 18,720 $ 18,666

Accrued Liabilities & Other Lia

Accrued Liabilities & Other Liabilities Other Liabilities (Tables)	3 Months Ended
	Jun. 27, 2015
Payables and Accruals [Abstract]
Other Noncurrent Liabilities [Table Text Block]	Other liabilities consisted of the following: (In thousands) Jun 27, 2015 Mar 28, 2015 Product warranty accrual $ 528 $ — Other non-current liabilities 1,390 1,571 $ 1,918 $ 1,571

Product Warranty (Tables)

Product Warranty (Tables)	3 Months Ended
	Jun. 27, 2015
Product Warranties Disclosures [Abstract]
Reconciliation of the Change in Aggregate Accrual for Product Warranty	The following is a reconciliation of the changes in the product warranty accrual: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Product warranty accrual, beginning $ 3,342 $ 4,215 Warranty charges incurred, net (1,484 ) (1,940 ) Provision for warranty charges 2,163 1,212 Product warranty accrual, ending $ 4,021 $ 3,487

Deferred Revenue (Tables)

Deferred Revenue (Tables)	3 Months Ended
	Jun. 27, 2015
Deferred Revenue Disclosure [Abstract]
Reconciliation of the Changes in Deferred Revenue	The following is a reconciliation of the changes in deferred revenue: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Deferred revenue, beginning $ 12,376 $ 10,515 Revenue deferred 15,720 11,808 Revenue recognized (13,135 ) (10,055 ) Deferred revenue, ending $ 14,961 $ 12,268

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Jun. 27, 2015
Earnings Per Share [Abstract]
Reconciliation of Weighted Average Shares Outstanding Used in Calculation of Basic and Diluted Earnings Per Share	The following is a reconciliation of weighted average shares outstanding used in the calculation of basic and diluted earnings per share: Fiscal quarter ended (In thousands, except per share data) Jun 27, 2015 Jun 28, 2014 Net loss $ (6,364 ) $ (8,251 ) Weighted average shares used for basic earnings per share 31,177 30,353 Incremental diluted shares — — Weighted average shares used for diluted earnings per share 31,177 30,353 Net loss per share: Net loss — basic $ (0.20 ) $ (0.27 ) Net loss — diluted $ (0.20 ) $ (0.27 )

Segment and Geographic Inform35

Segment and Geographic Information (Tables)	3 Months Ended
	Jun. 27, 2015
Segment Reporting Information [Line Items]
Net sales by Segment	Net sales by segment were as follows: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Component Processing $ 38,284 $ 30,298 Micromachining 4,807 4,732 $ 43,091 $ 35,030
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Gross profit by segment was as follows: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Component Processing $ 14,110 $ 12,567 Micromachining 1,662 337 Corporate and other (395 ) (616 ) $ 15,377 $ 12,288
Net sales by geographic area, based on location of end user	Net sales by geographic area, based on the location of the end user, were as follows: Fiscal quarter ended (In thousands) Jun 27, 2015 Jun 28, 2014 Asia $ 33,536 $ 24,718 Americas 6,356 6,174 Europe 3,199 4,138 $ 43,091 $ 35,030

Restructuring and Cost Manage36

Restructuring and Cost Management Plans (Tables)	3 Months Ended
	Jun. 27, 2015
Restructuring and Related Activities [Abstract]
Amounts Related to Restructuring Costs Payable	The following table presents the amounts related to restructuring costs payable (in thousands): Restructuring & cost management amounts payable as of March 28, 2015 $ 1,997 Employee severance and related benefits: Cash payments (206 ) Costs incurred and other adjustments 62 Restructuring & cost management amounts payable as of June 27, 2015 $ 1,853

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy for Financial Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Money Market Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	$ 2,997	$ 14,280
Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	21,664	15,537
Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets		2,702
Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets		853
Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	5,853	3,872
Forward purchase or (sale) contracts | Japanese Yen
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	14	(7)
Forward purchase or (sale) contracts | New Taiwan Dollars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	(7)	17
Forward purchase or (sale) contracts | Korean Won
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	(77)	(44)
Forward purchase or (sale) contracts | Euro
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	(163)	277
Forward purchase or (sale) contracts | British Pound
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	86	(133)
Forward purchase or (sale) contracts | Chinese Renminbi
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	(6)	(34)
Level 1 | Money Market Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	2,997	14,280
Level 2 | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	21,664	15,537
Level 2 | Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets		2,702
Level 2 | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets		853
Level 2 | Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	5,853	3,872
Level 2 | Forward purchase or (sale) contracts | Japanese Yen
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	14	(7)
Level 2 | Forward purchase or (sale) contracts | New Taiwan Dollars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	(7)	17
Level 2 | Forward purchase or (sale) contracts | Korean Won
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	(77)	(44)
Level 2 | Forward purchase or (sale) contracts | Euro
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	(163)	277
Level 2 | Forward purchase or (sale) contracts | British Pound
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	86	(133)
Level 2 | Forward purchase or (sale) contracts | Chinese Renminbi
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of financial assets	$ (6)	$ (34)

Share-Based Compensation - Expe

Share-Based Compensation - Expense (Details) - USD ($) $ in Thousands	Jan. 15, 2015	Jun. 27, 2015	Jun. 28, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		613,700	451,400
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period		467,000	230,000
Total share-based compensation expense		$ 1,063	$ 1,330
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition		2 years
Value of shares grant as compensation	$ 2,000	$ 324
Cost of Sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation expense		129	169
Selling, General and Administrative Expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation expense		715	865
Research and Development Expense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation expense		219	$ 296
Stock Options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized		$ 10,200

Fair Value Measurements - Inves

Fair Value Measurements - Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Mar. 28, 2015	Mar. 29, 2014
Schedule of Available-for-sale Securities
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis	$ 27,500
Available for sale Securities Current
Schedule of Available-for-sale Securities
Cost	27,516	$ 22,962
Available-for-sale Securities, Gross Unrealized Gain	1	2
Available-for-sale Securities, Gross Unrealized Loss	0	0
Available-for-sale Securities	27,517	22,964
Available for sale Securities Current | Commercial Paper
Schedule of Available-for-sale Securities
Cost	21,664	15,537
Available-for-sale Securities, Gross Unrealized Gain	0	0
Available-for-sale Securities, Gross Unrealized Loss	0	0
Available-for-sale Securities	21,664	15,537
Available for sale Securities Current | Government agencies
Schedule of Available-for-sale Securities
Cost		2,702
Available-for-sale Securities, Gross Unrealized Gain			$ 0
Available-for-sale Securities, Gross Unrealized Loss			0
Available-for-sale Securities		2,702
Available for sale Securities Current | Corporate Bonds
Schedule of Available-for-sale Securities
Cost		853
Available-for-sale Securities, Gross Unrealized Gain		0
Available-for-sale Securities, Gross Unrealized Loss			0
Available-for-sale Securities		853
Available for sale Securities Current | Municipal Bonds
Schedule of Available-for-sale Securities
Cost	5,852	3,870
Available-for-sale Securities, Gross Unrealized Gain	1	2
Available-for-sale Securities, Gross Unrealized Loss	0		$ 0
Available-for-sale Securities	$ 5,853	$ 3,872

Business Acquisitions - Allocat

Business Acquisitions - Allocation of Purchase Price of Assets Acquired and Liabilities Assumed Based on the Fair Value (Details) - USD ($) $ in Thousands	Jan. 15, 2015	Jun. 27, 2015	Mar. 28, 2015	Jun. 28, 2014
Business Acquisition [Line Items]
Shares grant as compensation	513,328
Value of shares grant as compensation	$ 2,000	$ 324
Cash compensation	200	0
Allocated acquisition related compensation expenses		366
Business Combination, Integration Related Costs		$ 154	$ 800	$ 0
Acquisition-related Costs [Member]
Business Acquisition [Line Items]
Accounts receivable, net	454
Inventory	544
Prepaid expense and other current assets	295
Property, plant, and equipment	23
Goodwill	7,445
Acquired intangibles	3,618
Accounts payable and other accrued liabilities	(1,859)
Total purchase price, net of cash acquired	10,520
Topwin [Member]
Business Acquisition [Line Items]
Acquired intangibles			4,900
Payments to Acquire Businesses, Gross	$ 7,600
Shares issuable	748,944
Value of shares issuable	$ 2,900
Shares issuable, period of issuance	3 years
Shares issuable as contingent consideration	374,472
Value of shares issuable as contingent consideration	$ 400
Shares issuable as non-contingent consideration	374,472
Value of shares issuable as non-contingent consideration	$ 2,500
Developed technology | Topwin [Member]
Business Acquisition [Line Items]
Acquired intangibles			$ 3,500
Finite-Lived Intangible Assets, Maximum [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Finite-Lived Intangible Assets, Minimum [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	1 year

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Inventory Disclosure [Abstract]
Raw materials and purchased parts	$ 37,836	$ 37,991
Work-in-process	14,525	14,834
Finished goods	4,894	3,812
Inventories	$ 57,255	$ 56,637

Trade Accounts Receivable (Deta

Trade Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Receivables [Abstract]
Accounts Receivable, Net, Current	$ 49,234	$ 42,295
Accounts Receivable, Net, Noncurrent	2,054	3,656
Accounts Receivable, Net	$ 51,288	$ 45,951

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Disclosure Other Current Assets [Abstract]
Prepaid expenses	$ 1,892	$ 2,595
Value added tax receivable	1,129	802
Business Combination, Contingent Consideration, Asset, Current	1,118	1,180
Other	1,162	1,513
Other current assets	$ 5,301	$ 6,090

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Other Assets, Noncurrent Disclosure [Abstract]
Consignment and demo equipment, net	$ 7,441	$ 7,164
Accounts Receivable, Net, Noncurrent	2,054	3,656
Other	2,719	2,391
Other assets	$ 12,214	$ 13,211

Goodwill (Details)

Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 28, 2015USD ($)
Goodwill [Abstract]
Goodwill, Impairment Loss	$ (7.9)

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015	Jun. 28, 2014	Mar. 29, 2014
Disclosure Accrued Liabilities [Abstract]
Payroll-related liabilities	$ 7,016	$ 6,723
Product Warranty Accrual, Current	3,493
Product warranty accrual	4,021	3,342	$ 3,487	$ 4,215
Purchase order commitments and receipts	1,825	1,815
Professional fees payable	1,624	1,237
Freight accrual	210	171
Income taxes payable	11	83
Restructuring costs payable	1,853	1,997
Customer deposits	692	1,057
Value added taxes payable	306	474
Other	1,690	1,767
Accrued liabilities	$ 18,720	$ 18,666

Accrued Liabilities & Other L47

Accrued Liabilities & Other Liabilities Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Non-Current Liabilities [Abstract]
Product Warranty Accrual, Noncurrent	$ 528	$ 0
Other Sundry Liabilities, Noncurrent	1,390	1,571
Liabilities, Other than Long-term Debt, Noncurrent	$ 1,918	$ 1,571

Product Warranty (Details)

Product Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Mar. 28, 2015
Product Warranty
Document Period End Date	Jun. 27, 2015
Product Warranty Accrual, Noncurrent	$ 528		$ 0
Product warranty accrual, beginning	3,342	$ 4,215
Warranty charges incurred, net	(1,484)	(1,940)
Provision for warranty charges	2,163	1,212
Product warranty accrual, ending	$ 4,021	$ 3,487

Deferred Revenue (Details)

Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Deferred Revenue Disclosure [Abstract]
Deferred revenue, beginning	$ 12,376	$ 10,515
Revenue deferred	15,720	11,808
Revenue recognized	(13,135)	(10,055)
Deferred revenue, ending	$ 14,961	$ 12,268

Earnings (Loss) Per Share - Rec

Earnings (Loss) Per Share - Reconciliation of Weighted Average Shares Outstanding Used in Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Earnings Per Share [Abstract]
Net income (loss)	$ (6,364)	$ (8,251)
Weighted average number of shares - basic	31,177	30,353
Incremental diluted shares	0	0
Weighted average shares used for diluted earnings per share	31,177	30,353
Net (loss) income per share - basic	$ (0.20)	$ (0.27)
Net (loss) income per share - diluted	$ (0.20)	$ (0.27)

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share
Number of shares that are not included in the calculation of diluted net earnings per share	3.6	3.3

Segment and Geographic Inform52

Segment and Geographic Information - Net Sales by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Segment Reporting Information [Line Items]
Net sales	$ 43,091	$ 35,030
Component Processing [Member]
Segment Reporting Information [Line Items]
Net sales	38,284	30,298
Micromachining [Member]
Segment Reporting Information [Line Items]
Net sales	$ 4,807	$ 4,732

Segment and Geographic Inform53

Segment and Geographic Information - Net Sales by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Revenues, Geographical Area [Line Items]
Net sales	$ 43,091	$ 35,030
Asia
Revenues, Geographical Area [Line Items]
Net sales	33,536	24,718
Americas
Revenues, Geographical Area [Line Items]
Net sales	6,356	6,174
Europe
Revenues, Geographical Area [Line Items]
Net sales	$ 3,199	$ 4,138

Segment and Geographic Inform54

Segment and Geographic Information -Gross Profit by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross Profit	$ 15,377	$ 12,288
Corporate and Other [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross Profit	(395)	(616)
Micromachining [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross Profit	1,662	337
Component Processing [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross Profit	$ 14,110	$ 12,567

Restructuring and Cost Manage55

Restructuring and Cost Management Plans - Amounts Related to Restructuring Costs Payable (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 62
Restructuring Reserve [Roll Forward]
Beginning balance	1,997
Cash payments	(206)
Restructuring Charges	62	$ 0
Ending balance	$ 1,853

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Dec. 31, 2011
Equity, Class of Treasury Stock [Line Items]
Payments of Dividends	$ 0	$ 2,417
Stock Repurchased During Period, Shares	207,738
Document Period End Date	Jun. 27, 2015
Payments for Repurchase of Common Stock	$ 0	$ 1,330
2011 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Share repurchase authorization amount			$ 20,000

Shareholders' Equity - Dividend

Shareholders' Equity - Dividend Declared and Paid (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Equity, Class of Treasury Stock [Line Items]
Cash dividends paid to shareholders	$ 0	$ (2,417)