Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Sep. 30, 2017 | Nov. 03, 2017 | |
Document And Entity Information [Abstract] | ||
Entity Common Stock, Shares Outstanding | 33,491,734 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | ELECTRO SCIENTIFIC INDUSTRIES INC | |
Entity Central Index Key | 726,514 | |
Current Fiscal Year End Date | --03-31 | |
Entity Well-know Seasoned Issuer | No | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Accelerated Filer |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2017 | Apr. 01, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 47,973 | $ 56,642 |
Short-term investments | 32,802 | 5,743 |
Accounts Receivable, Net, Current | 47,565 | 40,494 |
Inventories | 61,423 | 58,942 |
Shipped systems pending acceptance | 7,765 | 5,713 |
Other current assets | 5,309 | 6,180 |
Total current assets | 202,837 | 173,714 |
Non-current assets: | ||
Property, plant and equipment, net | 18,874 | 21,619 |
Goodwill | 2,626 | 3,027 |
Acquired intangible assets, net | 5,883 | 6,564 |
Other assets | 17,819 | 19,821 |
Total assets | 248,039 | 224,745 |
Current liabilities: | ||
Accounts payable | 24,378 | 21,213 |
Accrued liabilities | 32,050 | 22,186 |
Deferred revenue | 15,782 | 14,712 |
Total current liabilities | 72,210 | 58,111 |
Long-term Debt | 12,982 | 13,489 |
Non-current liabilities: | ||
Non-current income taxes payable | 1,285 | 1,036 |
Liabilities, Other than Long-term Debt, Noncurrent | 7,956 | 7,578 |
Liabilities | 94,433 | 80,214 |
Commitments and Contingencies | ||
Shareholders' equity: | ||
Preferred stock, without par value | 0 | 0 |
Common stock, without par value | 208,670 | 207,152 |
Retained earnings | (54,246) | (61,407) |
Accumulated other comprehensive income | (818) | (1,214) |
Total shareholders' equity | 153,606 | 144,531 |
Total liabilities and shareholders' equity | $ 248,039 | $ 224,745 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2017 | Apr. 01, 2017 |
Statement of Financial Position [Abstract] | ||
Trade receivables, allowances | $ 474 | $ 603 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 80,860 | 112,075 |
Finite-Lived Intangible Assets, Accumulated Amortization | $ 22,676 | $ 21,994 |
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 | 34,067,000 | 33,260,000 |
Common stock, outstanding | 34,067,000 | 33,260,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | |
Sales Revenue, Goods, Net | $ 60,316 | $ 21,442 | $ 122,409 | $ 59,642 |
Sales Revenue, Services, Net | 10,651 | 8,216 | 21,242 | 17,684 |
Net sales | 70,967 | 29,658 | 143,651 | 77,326 |
Cost of Goods Sold | 38,179 | 14,146 | 79,605 | 36,568 |
Cost of Services | 6,256 | 4,532 | 11,094 | 8,970 |
Cost of sales | 44,435 | 18,678 | 90,699 | 45,538 |
Gross profit | 26,532 | 10,980 | 52,952 | 31,788 |
Operating expenses: | ||||
Selling, service and administration | 11,648 | 12,766 | 24,456 | 25,637 |
Research, development and engineering | 8,274 | 7,760 | 17,208 | 15,390 |
Business Combination, Integration Related Costs | 0 | 335 | 0 | 335 |
Restructuring Costs | 2,162 | 0 | 3,373 | 0 |
Net operating expenses | 22,084 | 20,861 | 45,037 | 41,362 |
Operating (loss) income | 4,448 | (9,881) | 7,915 | (9,574) |
Non-operating (expense) income: | ||||
Interest and other (expense) income, net | (229) | 206 | (413) | 128 |
Other Nonoperating Income (Expense) | (229) | 206 | (413) | 128 |
Income (loss) before income taxes | 4,219 | (9,675) | 7,502 | (9,446) |
Provision for (benefit from) income taxes | (41) | 0 | 340 | 347 |
Net (loss) income | $ 4,260 | $ (9,675) | $ 7,162 | $ (9,793) |
Net (loss) income per share - basic | $ 0.13 | $ (0.30) | $ 0.21 | $ (0.30) |
Net (loss) income per share - diluted | $ 0.12 | $ (0.30) | $ 0.21 | $ (0.30) |
Weighted average number of shares - basic | 33,861 | 32,396 | 33,647 | 32,109 |
Weighted average number of shares - diluted | 34,874 | 32,396 | 34,716 | 32,109 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS Statement - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | |
Net (loss) income | $ 4,260 | $ (9,675) | $ 7,162 | $ (9,793) |
Foreign currency translation adjustment, net of taxes | 180 | 47 | 388 | (139) |
Accumulated other comprehensive loss related to benefit plan obligations, net of taxes | 5 | 5 | 9 | 9 |
Net unrealized (loss) gain on available-for-sale securities, net of taxes | 0 | (1) | (1) | (4) |
Other Comprehensive Income (Loss), Net of Tax | 185 | 51 | 396 | (134) |
Comprehensive (loss) income | $ 4,445 | $ (9,624) | $ 7,558 | $ (9,927) |
CONSOLIDATED STATEMENTS OF COM6
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | |
Foreign currency translation adjustment, taxes | $ 0 | $ 0 | $ 0 | $ 0 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax | (3) | 2 | (5) | (2) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | $ 0 | $ 0 | $ 0 | $ 0 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Sep. 30, 2017 | Oct. 01, 2016 | |
Repayments of Long-term Debt | $ (212) | $ 0 |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net (loss) income | 7,162 | (9,793) |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||
Depreciation and amortization | 3,469 | 3,592 |
Amortization of acquired intangible assets | 657 | 554 |
Share-based compensation expense | 2,797 | 3,136 |
Provision for Doubtful Accounts | 371 | (235) |
Gain (Loss) on Disposition of Assets | 0 | 40 |
Inventory Write-down | 0 | 1,170 |
Restructuring Charges | 13,858 | 0 |
Decrease (increase) in deferred income taxes | (31) | 87 |
Changes in operating accounts, net of acquisitions: | ||
Decrease (increase) in trade receivables, net | (7,094) | 13,373 |
Decrease (increase) in inventories | (7,874) | (3,669) |
Decrease (increase) in shipped systems pending acceptance | (2,051) | (2,712) |
Decrease (increase) in other current assets | 970 | (43) |
Increase (decrease) in accounts payable and accrued liabilities | 12,392 | (6,100) |
Increase (decrease) in deferred revenue | 1,070 | 4,577 |
Net cash (used in) provided by operating activities | 25,696 | 3,977 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of investments | (38,336) | (228,921) |
Proceeds from sales and maturities of investments | 10,861 | 240,209 |
Purchase of property, plant and equipment | (1,445) | (2,710) |
Decrease (increase) in other assets | (4,503) | (71) |
Net cash (used in) provided by investing activities | (33,386) | 6,504 |
Proceeds from Sale of Property, Plant, and Equipment | 37 | 7 |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 2,010 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Payments Related to Tax Withholding for Share-based Compensation | (1,684) | (793) |
Proceeds from Issuance of Common Stock | 665 | 654 |
Net cash (used in) provided by financing activities | (1,231) | (139) |
Effect of exchange rate changes on cash | 260 | (70) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (8,661) | 10,272 |
Cash and Cash Equivalents, at Carrying Value | 47,973 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 49,071 | 52,685 |
SUPPLEMENTAL CASH FLOW INFORMATION | ||
Cash paid for interest | 331 | 25 |
Cash paid for income taxes | (500) | (251) |
Income tax refunds received | 67 | 6 |
Property, Plant and Equipment, Gross, Period Increase (Decrease) | (2,052) | 3,128 |
Property, Plant and Equipment, Additions | $ 112 | $ 270 |
The Company
The Company | 6 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
The Company | 1. 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 United States generally accepted accounting principles (U.S. GAAP) have been condensed or omitted in these interim statements. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements and notes included in Electro Scientific Industries, Inc.'s (the Company) Annual Report on Form 10-K for its fiscal year ended April 1, 2017 . 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 U.S. GAAP 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; accrued restructuring costs; share-based compensation; income taxes, including the valuation of deferred tax assets; valuation of long-lived assets, including intangibles; valuation of goodwill and acquisition accounting. There have been no significant changes to the Company's significant accounting policies from those presented in Note 2: Recent Accounting Pronouncements to the consolidated financial statements included in the Company's Annual Report on Form 10-K for its fiscal year ended April 1, 2017 . All references to years or quarters relate to fiscal years or fiscal quarters unless otherwise noted. The fiscal quarters ended September 30, 2017 and October 1, 2016 each consisted of 13-week periods. Similarly, the two quarters ended September 30, 2017 and the two quarters ended October 1, 2016 each consisted of 26-week periods. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Sep. 30, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | 2. Recent Accounting Pronouncements Adopted accounting pronouncements: In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-09, “Compensation – Stock Compensation – Improvements to Employee Share-Based Payment Accounting.” ASU 2016-09 simplifies the accounting for several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, classification on the statement of cash flows, and the accounting for forfeitures. ASU 2016-09 was effective for the Company as of April 2, 2017, the beginning of fiscal 2018. Adopting ASU 2016-09 increased diluted weighted average shares outstanding by approximately 40 thousand shares in the first quarter of 2018 due to the change in recognition of excess tax benefits in the calculation. The ASU is expected to increase the volatility of the Company's diluted shares outstanding on a go-forward basis. In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory.” ASU 2015-11 simplifies the measurement of inventory by requiring companies to measure inventory at the lower of cost and net realizable value as opposed to measuring the lower of cost of market where the market value was determined based off of three different measures. ASU 2015-11 was effective for the Company as of April 2, 2017, the beginning of fiscal 2018. Adopting ASU 2015-11 has not had a material effect on the Company's inventory valuation. Recently issued accounting pronouncements not yet adopted In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , in order to (i) improve disclosures related to an entity's risk management activities through better transparency and understandability and (ii) simplify and reduce the complexity of hedge accounting by preparers. ASU 2017-12 is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods, which would be the Company's fiscal year ending March 28, 2020. Early adoption is permitted, including adoption in any interim period, for public business entities for reporting periods for which financial statements have not yet been issued. While the Company does not expect the adoption of ASU 2017-12 to have a material effect on its business, the Company is still evaluating any potential impact that adoption of ASU 2017-12 may have on its financial position, results of operations or cash flows. In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting , which amends the scope of modification accounting surrounding share-based payment arrangements as issued in ASU 2016-09 by providing guidance on the various types of changes which would trigger modification accounting for share-based payment awards, specifically an entity would not apply modification accounting under ASC 718 if the fair value, vesting conditions, and classification of the awards are the same immediately before and after the modification. ASU 2017-09 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods, which would be the Company's fiscal year ending March 30, 2019. Early adoption is permitted, including adoption in any interim period, for public business entities for reporting periods for which financial statements have not yet been issued. While the Company does not expect the adoption of ASU 2017-09 to have a material effect on its business, the Company is still evaluating any potential impact that adoption of ASU 2017-09 may have on its financial position, results of operations or cash flows. In March 2017, the FASB issued ASU 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , which requires companies to disaggregate the current-service-cost component from other components of net benefit cost and provides specific guidance for presentation in the income statement. ASU 2017-07 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods, which would be the Company's fiscal year ending March 30, 2019. Early adoption is permitted as of the beginning of an annual period for which financial statements (interim or annual) have not been issued or made available for issuance. While the Company does not expect the adoption of ASU 2017-07 to have a material effect on its business, the Company is still evaluating any potential impact that adoption of ASU 2017-07 may have on its financial position, results of operations or cash flows. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers: Topic 606 (ASU 2014-09) , to supersede nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date , which deferred the effective date for implementation of ASU 2014-09 by one year, making the new guidance effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted no earlier than the original effective date. The FASB has continued to issue ASU topics to further clarify ASU 2014-09. These have included ASU 2016-08, ASU 2016-10, ASU 2016-12, and ASU 2016-20. The effective date and transition requirements of these ASU topics are the same as the effective date and transition requirements of ASU 2015-14. The new standards are effective for the Company's fiscal year ending March 30, 2019, beginning with the first quarter of that fiscal year. The new standard permits adoption by using either (i) a full retrospective approach for all periods presented in the period of adoption or (ii) a modified retrospective approach with the cumulative effect of initially applying the new standard recognized at the date of initial application and providing certain additional disclosures. The Company has not yet finalized which transition method will be used; however, at this time it expects to adopt the modified retrospective approach. The final determination of the transition method depends on a number of factors including the impact on comparability, the ability to support related disclosures, and the overall nature and significance of the associated changes to the financial statements. The Company has developed an implementation plan and assigned cross-functional internal resources to perform a comprehensive assessment of the new standard and its impact on the financial statements of the Company. This assessment is ongoing and includes identification, consideration, and quantification of the impact of the new standard on the Company's financial statements, accounting policies, processes, control environment and systems. The outcome of this evaluation will be the implementation of supporting processes and systems that enable timely and accurate reporting under the new standard as well as the determination of which transition method is most appropriate. While the Company continues to assess all potential impacts under the new standard, a preliminary assessment would indicate that the new standard is unlikely to drive a significant change to the amount or timing of revenue recognition related to system sales or service contracts, the Company's major revenue streams. There may be some impact related to the allocation of value and timing of recognition in situations where service contracts, which the Company expects to be recognized over time, are sold together with systems, which it expects to be primarily recognized at a point in time. The Company believes that certain aspects of the new guidance will require significant judgment, including identification of relevant performance obligations and quantification of the consideration to which the entity expects to be entitled in exchange for those goods or services. Further, in connection with the adoption of the standard, there is a requirement to capitalize certain costs, which for the Company primarily comprises commission expenses for sales representatives. Any such costs required to be capitalized would amortize over the period of performance for the underlying contracts. The Company is still evaluating the impact of capitalizing costs to execute a contract, however the primary potential impact is expected to relate to commissions on service contracts with a duration approximating or exceeding one year. The impact related to contracts with a duration over one year is not expected to be significant and the Company expects to elect the practical expedient under the new standard for costs with a duration less than one year and expense those items as incurred. This preliminary assessment is based on the Company's analysis of actual historical revenue transactions under the new guidance and presumes certain conclusions as it relates to accounting policies under the new standard. Due to the complexity of certain of the Company's contracts, the actual revenue recognition treatment required under the new standard for these arrangements may be dependent on contract-specific terms and may vary from this overall expectation. The Company currently expects that necessary operational changes will be implemented prior to the adoption date. As the Company’s assessment of the new standard’s impacts is ongoing, including the areas described above, the Company cannot reasonably provide further estimates of the quantitative impacts to its financial statements at this time. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory , to improve and simplify the accounting for the income tax consequences of intra-entity transfers of assets other than inventory, requiring companies to recognize income tax consequences upon the transfer of the asset to a third party. ASU 2016-16 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods, which would be the Company's fiscal year ending March 30, 2019. While the Company does not expect the adoption of ASU 2016-16 to have a material effect on its business, the Company is still evaluating any potential impact that adoption of ASU 2016-16 may have on its financial position, results of operations or cash flows. In February 2016, the FASB issued ASU 2016-02, Leases . ASU 2016-02 increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and requires disclosing key information about leasing arrangements. ASU 2016-02 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods, which would be the Company's fiscal year ending March 28, 2020. The Company is still evaluating any potential impact that adoption of ASU 2016-02 may have on its financial position, results of operations or cash flows. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 3. Fair Value Measurements Financial Assets and Liabilities 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 for 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 and liabilities measured at fair value on a recurring basis as of September 30, 2017 and April 1, 2017 was as follows (in thousands): September 30, 2017 Level 1 Level 2 Level 3 Total Cash equivalents: Money market securities $ 2,182 $ — $ — $ 2,182 U.S. treasury fund 5,997 — — 5,997 Commercial paper — 4,796 — 4,796 Repurchase agreements — 5,000 — 5,000 Total cash equivalents $ 8,179 $ 9,796 $ — $ 17,975 Short term investments - available for sale: U.S. treasury fund $ 1,504 $ — $ — $ 1,504 Commercial paper — 29,097 — 29,097 Corporate bonds — 2,201 — 2,201 Total short-term investments - available for sale $ 1,504 $ 31,298 $ — $ 32,802 Forward purchase or (sale) contracts: Japanese Yen $ — $ 54 $ — $ 54 New Taiwan Dollar — (18 ) — (18 ) Korean Won — (21 ) — (21 ) Euro — 47 — 47 British Pound — 81 — 81 Chinese Renminbi — 14 — 14 Total forward contracts $ — $ 157 $ — $ 157 Deferred compensation plan assets:* Mutual funds and exchange traded funds $ 2,519 $ — $ — $ 2,519 Money market securities 954 — — 954 Total deferred compensation plan assets $ 3,473 $ — $ — $ 3,473 April 1, 2017 Level 1 Level 2 Level 3 Total Cash equivalents: Money market securities $ 22,395 $ — $ — $ 22,395 Commercial paper — 4,945 — 4,945 Total cash equivalents $ 22,395 $ 4,945 $ — $ 27,340 Short term investments - available for sale: Commercial paper $ — $ 5,743 $ — $ 5,743 Total short-term investments - available for sale $ — $ 5,743 $ — $ 5,743 Forward purchase or (sale) contracts: Japanese Yen $ — $ 9 $ — $ 9 New Taiwan Dollar — 20 — 20 Korean Won — 39 — 39 Euro — (96 ) — (96 ) British Pound — 16 — 16 Chinese Renminbi — (5 ) — (5 ) Singapore Dollar — (1 ) — (1 ) Total forward contracts $ — $ (18 ) $ — $ (18 ) Deferred compensation plan assets:* Mutual funds and exchange traded funds $ 845 $ — $ — $ 845 Money market securities 2,213 — — 2,213 Total deferred compensation plan assets $ 3,058 $ — $ — $ 3,058 *These investments represent assets held in trust for the deferred compensation plan 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 September 30, 2017 and April 1, 2017 were utilized to calculate fair values. During the first two quarters of 2018 and 2017 , there were no transfers between Level 1, 2 or 3 assets. Investments The Company’s investments, other than money market securities for which there is no unrealized gain or loss, at September 30, 2017 and April 1, 2017 were as follows (in thousands): Unrealized September 30, 2017 Cost Gain Loss Fair Value Available-for-sale securities (current): U.S. treasury fund $ 7,501 $ — $ — $ 7,501 Commercial paper 33,893 — — 33,893 Corporate Bonds 2,202 — (1 ) 2,201 Repurchase Agreements 5,000 — — 5,000 Total investments (current) $ 48,596 $ — $ (1 ) $ 48,595 Available-for-sale securities (non-current): Mutual funds, exchange traded funds and money market securities* $ 3,247 $ 226 $ — $ 3,473 Total investments (non-current) $ 3,247 $ 226 $ — $ 3,473 Unrealized April 1, 2017 Cost Gain Loss Fair Value Available-for-sale securities (current): Commercial paper $ 10,688 $ — $ — $ 10,688 Total investments (current) $ 10,688 $ — $ — $ 10,688 Available-for-sale securities (non-current): Mutual funds, exchange traded funds and money market securities* $ 2,974 $ 84 $ — $ 3,058 Total investments (non-current) $ 2,974 $ 84 $ — $ 3,058 *These investments represent assets held in trust for the deferred compensation plan For purposes of determining gross realized gains and losses and reclassification out of accumulated other comprehensive income (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 income (loss) were insignificant as of September 30, 2017 and April 1, 2017 . |
Inventories
Inventories | 6 Months Ended |
Sep. 30, 2017 | |
Inventory Disclosure [Abstract] | |
Inventories | 5. Inventories Inventories are principally valued at standard cost, which approximates the lower of cost and net realizable value on a first-in, first-out basis. Components of inventories were as follows: (In thousands) Sep 30, 2017 Apr 1, 2017 Raw materials and purchased parts $ 43,824 $ 41,383 Work-in-process 13,753 13,829 Finished goods 3,846 3,730 $ 61,423 $ 58,942 |
Other Current Assets
Other Current Assets | 6 Months Ended |
Sep. 30, 2017 | |
Disclosure Other Current Assets [Abstract] | |
Other Current Assets | xx. Other Current Assets Other current assets consisted of the following: (In thousands) Sep 30, 2017 Apr 1, 2017 Prepaid expenses $ 3,267 $ 3,646 Value added tax receivable 1,127 1,704 Other 915 830 $ 5,309 $ 6,180 Included in "Other" Other current assets are non-trade receivables, income tax refund receivable, and other similar items. |
Other Assets
Other Assets | 6 Months Ended |
Sep. 30, 2017 | |
Other Assets, Noncurrent Disclosure [Abstract] | |
Other Assets | 6. Other Assets Other assets consisted of the following: (In thousands) Sep 30, 2017 Apr 1, 2017 Demo and leased equipment, net $ 8,353 $ 11,011 Long term deposits 3,755 2,872 Non-current restricted cash 1,098 1,090 Non-current deferred income taxes, net 844 890 Other non-current assets 3,769 3,958 $ 17,819 $ 19,821 Depreciation expense for demo and leased equipment totaled $0.1 million in the second quarter of 2018 and $0.1 million in the second quarter of 2017 . For the two fiscal quarters ended September 30, 2017 depreciation expense for demo and leased equipment totaled $0.2 million compared to $0.2 million for the two fiscal quarters ended October 1, 2016 . Of the total $8.4 million and $11.0 million of demo and leased equipment at September 30, 2017 and April 1, 2017 , $4.8 million and $1.1 million were leased assets at customer sites generating revenue. Included in Other non-current assets are long-term investments held in a trust for the deferred compensation plan, non-current trade accounts receivable and other items. |
Accrued Liabilities (Current) O
Accrued Liabilities (Current) Other liabilities (Notes) | 6 Months Ended |
Sep. 30, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 7. Accrued Liabilities Accrued liabilities consisted of the following: (In thousands) Sep 30, 2017 Apr 1, 2017 Payroll-related liabilities $ 10,318 $ 6,335 Customer deposits 6,221 1,242 Product warranty accrual 4,929 3,394 Purchase order commitments and receipts 3,631 2,522 Restructuring costs payable 2,466 4,996 Professional fees payable 1,024 734 Current portion, long-term debt 410 434 Other current liabilities 3,051 2,529 $ 32,050 $ 22,186 Included in other current liabilities above are accrued amounts for value-added taxes, income taxes, freight, and other similar items. |
Product Warranty
Product Warranty | 6 Months Ended |
Sep. 30, 2017 | |
Product Warranties Disclosures [Abstract] | |
Product Warranty | 8. Product Warranty The following is a reconciliation of the changes in the aggregate product warranty accrual: Fiscal quarter ended Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Product warranty accrual, beginning $ 6,538 $ 5,947 $ 5,474 $ 5,734 Warranty charges incurred, net (2,666 ) (1,263 ) (5,111 ) (3,314 ) Provision for warranty charges 3,284 837 6,793 3,101 Product warranty accrual, ending $ 7,156 $ 5,521 $ 7,156 $ 5,521 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 $7.2 million and $5.5 million of product warranty accruals as of September 30, 2017 and October 1, 2016 , $2.3 million and $1.0 million were non-current and were included in Other liabilities on the Condensed Consolidated Balance Sheets. |
Deferred Revenue
Deferred Revenue | 6 Months Ended |
Sep. 30, 2017 | |
Deferred Revenue Disclosure [Abstract] | |
Deferred Revenue | 9. Deferred Revenue Generally, revenue is recognized upon fulfillment of acceptance criteria at the Company's factory and transfer of risk and title. Revenue is deferred whenever title transfer is pending, risk has not transferred, and/or acceptance criteria have not yet been fulfilled. Deferred revenue arises from, among other factors, sales to Japanese customers, shipments of substantially new products and shipments with custom specifications and other acceptance criteria where the Company cannot demonstrate a track record of acceptance. For sales involving multiple element arrangements, the relative selling price of any undelivered elements, including installation services and similar items, 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 Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Deferred revenue, beginning $ 15,616 $ 9,757 $ 15,397 $ 7,685 Revenue deferred 31,182 9,119 46,652 19,472 Revenue recognized (30,429 ) (7,293 ) (45,680 ) (15,574 ) Deferred revenue, ending $ 16,369 $ 11,583 $ 16,369 $ 11,583 Of the total of $16.4 million and $11.6 million of deferred revenue at September 30, 2017 and April 1, 2017 , $0.6 million and $0.6 million were non-current and were included in Other liabilities on the Condensed Consolidated Balance Sheets. |
Long-term Debt (Notes)
Long-term Debt (Notes) | 6 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | 10. Long-term Debt On January 9, 2017, ESI Leasing, LLC (ESI Leasing), a wholly owned subsidiary of the Company, entered into a loan agreement (Loan Agreement) with First Technology Federal Credit Union (Lender). The Loan Agreement provides for a term loan from the Lender to ESI Leasing in the principal amount of $14 million (Loan). The interest rate of the Loan is fixed at 4.75% per annum, except that it may be increased if certain covenants under the Loan Agreement are not satisfied and after and during the continuation of an “Event of Default” as defined in the Loan Agreement. The Loan amortizes over a period of approximately 20 years, but the maturity date of the loan is January 1, 2027 , meaning that, if ESI Leasing does not prepay or refinance the Loan, the balance of the principal of the Loan will become due on January 1, 2027. ESI Leasing will pay monthly principal and interest payments on the Loan totaling annual amounts of $1.1 million through the maturity of the loan. The Company unconditionally guarantees the loan to ESI Leasing. The principal maturities for each of the upcoming twelve month periods ending on September 30 are as follows: (In thousands) 2018 2019 2020 2021 2022 Principal maturities $ 444 $ 466 $ 487 $ 512 $ 537 Total debt currently outstanding on the Loan Agreement at the end of fiscal 2017 was: (In thousands) Sep 30, 2017 Apr 1, 2017 Total debt outstanding $ 13,392 $ 13,923 Less: Current portion, long-term debt (410 ) (434 ) Long-term debt $ 12,982 $ 13,489 Deferred debt issuance costs related to the above long-term debt as of September 30, 2017 and April 1, 2017 were $320 thousand and $337 thousand , respectively. |
Revolving Credit Facility (Note
Revolving Credit Facility (Notes) | 6 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Revolving Credit Facility [Text Block] | 11. Revolving Credit Facility The Company is party to a loan and security agreement (Credit Facility) with Silicon Valley Bank (SVB), which was initially entered into on March 20, 2015 and amended on July 12, 2016. The Credit Facility provides for a senior secured asset-based revolving facility with availability up to $30 million, including a $15 million sublimit for letters of credit. In the fourth quarter of 2017, the Company amended and extended the Credit Facility by one year. With this extension, the Credit Facility expires March 20, 2019. At September 30, 2017 , the Company had no amounts outstanding under the Credit Facility, was in compliance with all covenants, and was not in default under the agreement. The commitment fee on the amount of unused credit was 0.3 percent. As amended, the Credit Facility allows for a greater level of EBITDA losses, but reduces the level of permitted acquisitions and purchases of capital equipment. If the Company fails to meet the covenants in its Credit Facility or its lenders fail to fund, access to the facility may be limited or the facility may become unavailable altogether. |
Commitments & Contingencies (No
Commitments & Contingencies (Notes) | 6 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 12. Commitments & Contingencies The Company mitigates credit risk by transacting with highly rated counterparties for foreign exchange contracts, letters of credit and other transactions where counterparty risk is a factor. The Company has evaluated the non-performance risks associated with the Company's lenders and other parties and believes them to be insignificant. From time to time the Company may be party to litigation arising in the normal course of business. Currently, the Company is not party to any litigation it believes would have a material adverse effect on the Company's financial position, results of operations or cash flows. |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Sep. 30, 2017 | |
Stockholders' Equity Note [Abstract] | |
Shareholders' Equity | 13. 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 the Company's 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 two quarters of 2018 or 2017 . There is no expiration date for the repurchase program. |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | 15. Share-Based Compensation The Company's share-based compensation consists of stock-settled stock appreciation rights (SARs), restricted stock unit awards with a service condition (time-based RSUs), restricted stock unit awards with a performance condition (performance-based RSUs), restricted stock unit awards with a market performance condition (market-based RSUs) and an employee stock purchase plan. The Company recognizes expense related to the fair value of SARs and the 1990 Employee Stock Purchase Plan (ESPP) using the Black-Scholes model to estimate the fair value of awards on the date of grant. The fair value of time-based and performance-based restricted stock units (RSUs) are measured on the grant date based on the market value of the Company's common stock. The market-based RSUs must achieve the total shareholder return (TSR) measures in order for the awards to vest, and the grant date fair value of the awards is calculated using a Monte Carlo simulation model. Except for performance-based RSUs, the Company recognizes compensation expense for all share-based compensation awards, net of estimated forfeitures, on a straight-line basis over the requisite service period of the award. Expense for performance-based RSUs is recognized based on the probability of achievement of the performance criteria. The compensation cost for market-based RSUs is recognized over the related service period, even if the market condition is never satisfied. The Company granted a total of 396,400 time-based RSUs and 197,400 market-based RSUs during the first two quarters of 2018 , but did not grant any SARs or performance-based RSUs. Grants for the second quarter of 2018 consisted of 70,800 time-based RSUs. Share-based compensation expense under the stock incentive plans is included in the Company’s Condensed Consolidated Statements of Operations as follows: Fiscal quarter ended Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Cost of sales $ 77 $ 136 $ 144 $ 256 Selling, general and administrative 1,070 1,205 2,131 2,182 Research, development and engineering 183 177 333 371 Total share-based compensation expense $ 1,330 $ 1,518 $ 2,608 $ 2,809 The Company does not have any capitalizable share-based compensation costs for the two fiscal quarters ended September 30, 2017 and October 1, 2016 , respectively. As of September 30, 2017 , the Company had $9.6 million of total unrecognized share-based compensation costs, net of estimated forfeitures, which are expected to be recognized over a weighted average period of 2.4 years. |
Product and Geographic Informat
Product and Geographic Information (Notes) | 6 Months Ended |
Sep. 30, 2017 | |
Product ang Geographic Information Reporting [Abstract] | |
Product and Geographic Information [Text Block] | 16. Product 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 in deciding how to allocate resources and in assessing performance. The Company's chief operating decision maker (CODM) is its Chief Executive Officer (CEO). The Company operates in a single segment, defined as a manufacturer of high-technology microfabrication and related equipment. This segment, which also represents the consolidated entity, sells products into a variety of end markets that are grouped into four major categories for the purpose of providing an understanding of the principal end markets for the products manufactured by the Company, specifically: 1) Printed Circuit Board (PCB), 2) Component Test, 3) Semiconductor, and 4) Industrial Machining. The following table presents net sales information by the four major market categories addressed by the Company's single segment: Fiscal quarter ended Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Printed Circuit Board $ 43,541 $ 13,527 $ 95,859 $ 44,445 Component Test 7,677 4,990 15,858 9,592 Semiconductor 12,028 7,222 18,765 14,831 Industrial Machining 7,721 3,919 13,169 8,458 Net Sales $ 70,967 $ 29,658 $ 143,651 $ 77,326 Net sales by geographic area, based on the location of the end user, were as follows: Fiscal quarter ended Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Asia $ 64,053 $ 25,721 $ 130,616 $ 66,169 Americas 2,936 2,236 7,106 5,254 Europe 3,978 1,701 5,929 5,903 Net Sales $ 70,967 $ 29,658 $ 143,651 $ 77,326 |
Restructuring and Cost Manageme
Restructuring and Cost Management Plans | 6 Months Ended |
Sep. 30, 2017 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Cost Management Plans | 17. Restructuring and Cost Management Plans 2017 Corporate Restructuring: In the fourth quarter of 2017, the Company initiated a restructuring plan to improve business effectiveness and streamline operations to achieve a stated target profit level for the Company as a whole. As a part of the restructuring plan, the management team was reorganized from a business unit to a functional structure; the Company closed facilities in Montreal, Canada; Napa, California; and Sunnyvale, California; the Company discontinued certain products; and the Company made select reductions in headcount across the Company. Actions under this plan are largely completed as of the end of the second fiscal quarter of 2018, except facilities charges and other costs which will extend beyond that time, with an estimated future cost of approximately $0.4 million and $0.2 million, of which the majority is expected to be paid in cash. Total expenses related to the plan were $16.5 million in the first two quarters of 2018 and $7.6 million in the fourth quarter of 2017 . Included in the 2018 expenses are approximately $13.3 million of charges impacting gross margins primarily related to impairment of other assets and inventory stemming from the product portfolio program reviews. Operating expense charges included $2.5 million of facilities and fixed assets charges related to abandoned facilities and discontinued products and $0.6 million of employee severance and related costs. The change in total estimated costs primarily related to inventory and other asset write-offs stemming from the product portfolio program reviews that occurred during the first two quarters of 2018. Product portfolio reviews are ongoing. The following table presents the total expected restructuring costs as of September 30, 2017 (in thousands): Total Expected Costs for the Plan Costs Recognized from inception of the plan through the Quarter ended Sep 30, 2017 Remaining Costs to be Recognized Subsequent to Sep 30, 2017 Employee severance and related personnel costs $ 4,165 $ 4,165 $ — Site closure costs 2,090 1,690 400 Current asset impairments and other gross profit charges (1) 14,947 14,947 — Non-current asset impairments 3,032 3,032 — Other Costs 427 227 200 Total $ 24,661 $ 24,061 $ 600 (1) Current asset impairments include inventory charges recorded in cost of sales. The following table presents the amounts payable related to the 2017 Corporate Restructuring (in thousands): Employee severance and related personnel costs Site closure costs Current asset impairments and other gross profit charges (1) Non-current asset impairments Other Costs Total Balance as of April 2, 2016 $ — $ — $ — $ — $ — $ — Costs incurred 3,588 888 1,669 1,376 66 7,587 Cash payments (341 ) — — — (66 ) (407 ) Non-cash items — — (1,669 ) (1,376 ) — (3,045 ) Balance as of April 1, 2017 $ 3,247 $ 888 $ — $ — $ — $ 4,135 Costs incurred 577 800 13,278 1,657 163 16,475 Cash (payments) receipts (3,672 ) (863 ) (1,750 ) 32 (163 ) (6,416 ) Non-cash items — — (10,876 ) (1,689 ) — (12,565 ) Balance as of September 30, 2017 $ 152 $ 825 $ 652 $ — $ — $ 1,629 (1) Asset and facilities costs include inventory charges recorded in cost of sales. Other restructuring plans: The Company's previously disclosed restructuring plans are largely complete, except for facilities charges and legal entity closure charges which are expected to be incurred through the end of December 2018. Please see Note 26: Restructuring and Cost Management Plans to the Company’s financial statements included in its Annual Report on Form 10-K for the fiscal year ending April 1, 2017. Net restructuring costs related to these plans were $0.4 million in 2018 and $0.4 million in 2017 . The Company does not expect to incur any future expenses on these plans. The amounts payable of $0.8 million at September 30, 2017 are expected to be future cash outflows, primarily relating to facility expenses. The following table presents the amounts related to restructuring costs payable (in thousands): Restructuring & cost management amounts payable as of April 2, 2016 $ 757 Cash payments and other adjustments (297 ) Costs incurred 401 Restructuring & cost management amounts payable as of April 1, 2017 861 Cash payments and other adjustments (380 ) Costs incurred 356 Restructuring & cost management amounts payable as of September 30, 2017 $ 837 Overall restructuring reserve: As of September 30, 2017 , and April 1, 2017, the amount of unpaid restructuring costs included in accrued liabilities on the Consolidated Balance Sheets were $2.5 million and $5.0 million , respectively. Included in the payable balance are amounts for severance and employee benefits, asset retirement obligation and net lease commitments. |
(Loss) Earnings Per Share
(Loss) Earnings Per Share | 6 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
(Loss) Earnings Per Share | 18. Earnings (Loss) Per Share The following is a reconciliation of weighted average shares outstanding used in the calculation of basic and diluted earnings (loss) per share: Fiscal quarter ended Two fiscal quarters ended (In thousands, except per share data) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Net income (loss) $ 4,260 $ (9,675 ) $ 7,162 $ (9,793 ) Weighted average shares used for basic earnings per share 33,861 32,396 33,647 32,109 Incremental diluted shares 1,013 — 1,069 — Weighted average shares used for diluted earnings per share 34,874 32,396 34,716 32,109 Net income (loss) per share: Basic $ 0.13 $ (0.30 ) $ 0.21 $ (0.30 ) Diluted $ 0.12 $ (0.30 ) $ 0.21 $ (0.30 ) Awards of options, SARs and RSUs representing an additional 0.3 million and 2.7 million shares of stock for the second quarter of 2018 and 201 7 , respectively, and 0.6 million and 2.4 million shares of stock for the first two quarters of 2018 and 2017 , respectively, were not included in the calculation of diluted net earnings per share because their effect would have been antidilutive. |
Business Acquisitions
Business Acquisitions | 6 Months Ended |
Sep. 30, 2017 | |
Business Combinations [Abstract] | |
Business Acquisitions | 19. Business Acquisitions Fiscal 2017 On August 1, 2016, the Company acquired all of the outstanding shares of Visicon Technologies, Inc. (Visicon), a leading supplier of high-accuracy and high-throughput measurement and defect detection systems based in Napa, California. The consideration under the merger agreement is subject to adjustment for indebtedness, seller's transaction expenses, working capital and other items. Based on closing working capital levels and other adjustments, the Company paid $2.0 million in cash and issued 603,939 shares of ESI common stock, valued at approximately $4.2 million . The value of the common stock is based on the closing price of stock on August 1, 2016. A portion of the shares issued in connection with the agreement were reserved in escrow to serve as a source of payment for any purchase price adjustments or indemnity claims by the Company. The sellers have contractually agreed to limitations on the sale of the shares of common stock they received in connection with the sale of Visicon; specifically, no shares could be sold for six months following closing, after which twenty-five percent of the shares become salable each quarter thereafter. The shares issued as a part of this merger represented a non-cash investing activity of $4.2 million . The Company finalized the valuation of assets acquired, liabilities assumed, and consideration in the first quarter of 2018. The amounts shown below represent the fair value of the associated assets acquired, liabilities assumed and consideration transferred as of the acquisition date. The total estimated purchase price of $6.2 million , net of cash acquired, was allocated to the underlying assets acquired and liabilities assumed based on estimated fair value, as shown in the following table: (In thousands) Accounts receivable $ 391 Inventory 982 Prepaid expense and other current assets 116 Property, plant and equipment 737 Acquired intangibles 3,300 Goodwill 2,626 Other assets 26 Accounts payable and other accrued liabilities (1,952 ) Total purchase price, net of cash acquired $ 6,226 The acquisition provided the Company with a portfolio of standalone defect detection systems for the medical device and consumer electronics markets. In addition to a standalone product portfolio and associated value streams, the acquisition provided complementary technology for integrated verification of laser machining, to allow the Company to expand its presence into the medical device market, present an opportunity for enhanced vertical integration and result in synergies with the Company's current consumer electronics customer base. None of the goodwill is deductible for tax purposes. The acquired intangible assets consisted primarily of approximately $2.1 million of developed technology. Identified intangible assets are expected to be amortized over their useful lives of one to six years. The operating results of the acquired entity 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 Visicon as it is not material to the Company’s operations and financial position. Fiscal 2015 The Company acquired all of the outstanding shares of Wuhan Topwin Optoelectronics Technology Co., Ltd. (Topwin), a Chinese manufacturer of laser-based systems. In connection with this acquisition, the Company issued 145,442 shares and treated that as compensation to an employee of the Company who was previously an owner of Topwin. The compensation expense was recognized over the service period and from acquisition through the second quarter of fiscal 2018 , the Company has recognized $1.7 million in share-based compensation expense related to this acquisition. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
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 and liabilities measured at fair value on a recurring basis as of September 30, 2017 and April 1, 2017 was as follows (in thousands): September 30, 2017 Level 1 Level 2 Level 3 Total Cash equivalents: Money market securities $ 2,182 $ — $ — $ 2,182 U.S. treasury fund 5,997 — — 5,997 Commercial paper — 4,796 — 4,796 Repurchase agreements — 5,000 — 5,000 Total cash equivalents $ 8,179 $ 9,796 $ — $ 17,975 Short term investments - available for sale: U.S. treasury fund $ 1,504 $ — $ — $ 1,504 Commercial paper — 29,097 — 29,097 Corporate bonds — 2,201 — 2,201 Total short-term investments - available for sale $ 1,504 $ 31,298 $ — $ 32,802 Forward purchase or (sale) contracts: Japanese Yen $ — $ 54 $ — $ 54 New Taiwan Dollar — (18 ) — (18 ) Korean Won — (21 ) — (21 ) Euro — 47 — 47 British Pound — 81 — 81 Chinese Renminbi — 14 — 14 Total forward contracts $ — $ 157 $ — $ 157 Deferred compensation plan assets:* Mutual funds and exchange traded funds $ 2,519 $ — $ — $ 2,519 Money market securities 954 — — 954 Total deferred compensation plan assets $ 3,473 $ — $ — $ 3,473 April 1, 2017 Level 1 Level 2 Level 3 Total Cash equivalents: Money market securities $ 22,395 $ — $ — $ 22,395 Commercial paper — 4,945 — 4,945 Total cash equivalents $ 22,395 $ 4,945 $ — $ 27,340 Short term investments - available for sale: Commercial paper $ — $ 5,743 $ — $ 5,743 Total short-term investments - available for sale $ — $ 5,743 $ — $ 5,743 Forward purchase or (sale) contracts: Japanese Yen $ — $ 9 $ — $ 9 New Taiwan Dollar — 20 — 20 Korean Won — 39 — 39 Euro — (96 ) — (96 ) British Pound — 16 — 16 Chinese Renminbi — (5 ) — (5 ) Singapore Dollar — (1 ) — (1 ) Total forward contracts $ — $ (18 ) $ — $ (18 ) Deferred compensation plan assets:* Mutual funds and exchange traded funds $ 845 $ — $ — $ 845 Money market securities 2,213 — — 2,213 Total deferred compensation plan assets $ 3,058 $ — $ — $ 3,058 |
Investments | The Company’s investments, other than money market securities for which there is no unrealized gain or loss, at September 30, 2017 and April 1, 2017 were as follows (in thousands): Unrealized September 30, 2017 Cost Gain Loss Fair Value Available-for-sale securities (current): U.S. treasury fund $ 7,501 $ — $ — $ 7,501 Commercial paper 33,893 — — 33,893 Corporate Bonds 2,202 — (1 ) 2,201 Repurchase Agreements 5,000 — — 5,000 Total investments (current) $ 48,596 $ — $ (1 ) $ 48,595 Available-for-sale securities (non-current): Mutual funds, exchange traded funds and money market securities* $ 3,247 $ 226 $ — $ 3,473 Total investments (non-current) $ 3,247 $ 226 $ — $ 3,473 Unrealized April 1, 2017 Cost Gain Loss Fair Value Available-for-sale securities (current): Commercial paper $ 10,688 $ — $ — $ 10,688 Total investments (current) $ 10,688 $ — $ — $ 10,688 Available-for-sale securities (non-current): Mutual funds, exchange traded funds and money market securities* $ 2,974 $ 84 $ — $ 3,058 Total investments (non-current) $ 2,974 $ 84 $ — $ 3,058 |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
Inventory Disclosure [Abstract] | |
Components of Inventories | Components of inventories were as follows: (In thousands) Sep 30, 2017 Apr 1, 2017 Raw materials and purchased parts $ 43,824 $ 41,383 Work-in-process 13,753 13,829 Finished goods 3,846 3,730 $ 61,423 $ 58,942 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
Disclosure Other Current Assets [Abstract] | |
Other Current Assets | Other current assets consisted of the following: (In thousands) Sep 30, 2017 Apr 1, 2017 Prepaid expenses $ 3,267 $ 3,646 Value added tax receivable 1,127 1,704 Other 915 830 $ 5,309 $ 6,180 |
Other Assets (Tables)
Other Assets (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
Other Assets, Noncurrent Disclosure [Abstract] | |
Other Assets | Other assets consisted of the following: (In thousands) Sep 30, 2017 Apr 1, 2017 Demo and leased equipment, net $ 8,353 $ 11,011 Long term deposits 3,755 2,872 Non-current restricted cash 1,098 1,090 Non-current deferred income taxes, net 844 890 Other non-current assets 3,769 3,958 $ 17,819 $ 19,821 |
Accrued Liabilities (Current)30
Accrued Liabilities (Current) Other Liabilities Disclosure (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | Accrued liabilities consisted of the following: (In thousands) Sep 30, 2017 Apr 1, 2017 Payroll-related liabilities $ 10,318 $ 6,335 Customer deposits 6,221 1,242 Product warranty accrual 4,929 3,394 Purchase order commitments and receipts 3,631 2,522 Restructuring costs payable 2,466 4,996 Professional fees payable 1,024 734 Current portion, long-term debt 410 434 Other current liabilities 3,051 2,529 $ 32,050 $ 22,186 |
Other Noncurrent Liabilities [Table Text Block] | ncluded in other current liabilities above are accrued amounts for value-added taxes, income taxes, freight, and other similar items. |
Product Warranty (Tables)
Product Warranty (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
Product Warranties Disclosures [Abstract] | |
Reconciliation of the Change in Aggregate Accrual for Product Warranty | The following is a reconciliation of the changes in the aggregate product warranty accrual: Fiscal quarter ended Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Product warranty accrual, beginning $ 6,538 $ 5,947 $ 5,474 $ 5,734 Warranty charges incurred, net (2,666 ) (1,263 ) (5,111 ) (3,314 ) Provision for warranty charges 3,284 837 6,793 3,101 Product warranty accrual, ending $ 7,156 $ 5,521 $ 7,156 $ 5,521 |
Deferred Revenue (Tables)
Deferred Revenue (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
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 Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Deferred revenue, beginning $ 15,616 $ 9,757 $ 15,397 $ 7,685 Revenue deferred 31,182 9,119 46,652 19,472 Revenue recognized (30,429 ) (7,293 ) (45,680 ) (15,574 ) Deferred revenue, ending $ 16,369 $ 11,583 $ 16,369 $ 11,583 Of the total of $16.4 million and $11.6 million of deferred revenue at September 30, 2017 and April 1, 2017 , $0.6 million and $0.6 million were non-current and were included in Other liabilities on the Condensed Consolidated Balance Sheets. |
Long-term Debt Debt Outstanding
Long-term Debt Debt Outstanding (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
Debt Instrument [Line Items] | |
Schedule of Debt [Table Text Block] | Total debt currently outstanding on the Loan Agreement at the end of fiscal 2017 was: (In thousands) Sep 30, 2017 Apr 1, 2017 Total debt outstanding $ 13,392 $ 13,923 Less: Current portion, long-term debt (410 ) (434 ) Long-term debt $ 12,982 $ 13,489 |
Share-Based Compensation Expens
Share-Based Compensation Expense (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | hare-based compensation expense under the stock incentive plans is included in the Company’s Condensed Consolidated Statements of Operations as follows: Fiscal quarter ended Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Cost of sales $ 77 $ 136 $ 144 $ 256 Selling, general and administrative 1,070 1,205 2,131 2,182 Research, development and engineering 183 177 333 371 Total share-based compensation expense $ 1,330 $ 1,518 $ 2,608 $ 2,809 |
Product and Geographic Inform35
Product and Geographic Information (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
Product ang Geographic Information Reporting [Abstract] | |
Revenue from External Customers by Products and Services [Table Text Block] | Fiscal quarter ended Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Printed Circuit Board $ 43,541 $ 13,527 $ 95,859 $ 44,445 Component Test 7,677 4,990 15,858 9,592 Semiconductor 12,028 7,222 18,765 14,831 Industrial Machining 7,721 3,919 13,169 8,458 Net Sales $ 70,967 $ 29,658 $ 143,651 $ 77,326 |
Revenue from External Customers by Geographic Areas [Table Text Block] | Net sales by geographic area, based on the location of the end user, were as follows: Fiscal quarter ended Two fiscal quarters ended (In thousands) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Asia $ 64,053 $ 25,721 $ 130,616 $ 66,169 Americas 2,936 2,236 7,106 5,254 Europe 3,978 1,701 5,929 5,903 Net Sales $ 70,967 $ 29,658 $ 143,651 $ 77,326 |
Restructuring and Cost Manage36
Restructuring and Cost Management Plans (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
Restructuring and Related Activities [Abstract] | |
Amounts Related to Restructuring Costs Payable | The following table presents the amounts payable related to the 2017 Corporate Restructuring (in thousands): Employee severance and related personnel costs Site closure costs Current asset impairments and other gross profit charges (1) Non-current asset impairments Other Costs Total Balance as of April 2, 2016 $ — $ — $ — $ — $ — $ — Costs incurred 3,588 888 1,669 1,376 66 7,587 Cash payments (341 ) — — — (66 ) (407 ) Non-cash items — — (1,669 ) (1,376 ) — (3,045 ) Balance as of April 1, 2017 $ 3,247 $ 888 $ — $ — $ — $ 4,135 Costs incurred 577 800 13,278 1,657 163 16,475 Cash (payments) receipts (3,672 ) (863 ) (1,750 ) 32 (163 ) (6,416 ) Non-cash items — — (10,876 ) (1,689 ) — (12,565 ) Balance as of September 30, 2017 $ 152 $ 825 $ 652 $ — $ — $ 1,629 (1) Asset and facilities costs include inventory charges recorded in cost of sales. The following table presents the amounts related to restructuring costs payable (in thousands): Restructuring & cost management amounts payable as of April 2, 2016 $ 757 Cash payments and other adjustments (297 ) Costs incurred 401 Restructuring & cost management amounts payable as of April 1, 2017 861 Cash payments and other adjustments (380 ) Costs incurred 356 Restructuring & cost management amounts payable as of September 30, 2017 $ 837 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Sep. 30, 2017 | |
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 (loss) per share: Fiscal quarter ended Two fiscal quarters ended (In thousands, except per share data) Sep 30, 2017 Oct 1, 2016 Sep 30, 2017 Oct 1, 2016 Net income (loss) $ 4,260 $ (9,675 ) $ 7,162 $ (9,793 ) Weighted average shares used for basic earnings per share 33,861 32,396 33,647 32,109 Incremental diluted shares 1,013 — 1,069 — Weighted average shares used for diluted earnings per share 34,874 32,396 34,716 32,109 Net income (loss) per share: Basic $ 0.13 $ (0.30 ) $ 0.21 $ (0.30 ) Diluted $ 0.12 $ (0.30 ) $ 0.21 $ (0.30 ) |
Fair Value Measurements - Inves
Fair Value Measurements - Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2017 | Apr. 01, 2017 | ||
Available For Sale Securities Current [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | $ 48,595 | $ 10,688 | |
Available-for-sale Securities, Amortized Cost Basis | 48,596 | 10,688 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (1) | 0 | |
Available For Sale Securities Current [Member] | US Treasury Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 7,501 | ||
Available-for-sale Securities, Amortized Cost Basis | 7,501 | ||
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | ||
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | ||
Available For Sale Securities Current [Member] | Commercial Paper [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 33,893 | 10,688 | |
Available-for-sale Securities, Amortized Cost Basis | 33,893 | 10,688 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Available For Sale Securities Current [Member] | Corporate Bond Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Gross Unrealized Loss | (1) | ||
Available-for-sale Securities | 2,201 | ||
Available-for-sale Securities, Amortized Cost Basis | 2,202 | ||
Available-for-sale Securities, Gross Unrealized Gain | 0 | ||
Available For Sale Securities Current [Member] | Repurchase Agreements [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Gross Unrealized Loss | 0 | ||
Available-for-sale Securities | 5,000 | ||
Available-for-sale Securities, Amortized Cost Basis | 5,000 | ||
Available-for-sale Securities, Gross Unrealized Gain | 0 | ||
Available For Sale Securities Non Current [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 3,473 | 3,058 | [1] |
Available-for-sale Securities, Amortized Cost Basis | 3,247 | 2,974 | [1] |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 226 | 84 | [1] |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | [1] |
Available For Sale Securities Non Current [Member] | Exchange traded funds and money market securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 3,473 | 3,058 | [1] |
Available-for-sale Securities, Amortized Cost Basis | 3,247 | 2,974 | [1] |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 226 | 84 | [1] |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | $ 0 | $ 0 | [1] |
[1] | *These investments represent assets held in trust for the deferred compensation plan |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Hierarchy (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Apr. 01, 2017 | |
Cash Equivalents [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | $ 17,975 | $ 27,340 | |
Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 8,179 | 22,395 | |
Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 9,796 | 4,945 | |
Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Cash Equivalents [Member] | Money Market Instruments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 2,182 | 22,395 | |
Cash Equivalents [Member] | Money Market Instruments [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 2,182 | 22,395 | |
Cash Equivalents [Member] | Commercial Paper [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 4,796 | 4,945 | |
Cash Equivalents [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | ||
Cash Equivalents [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 4,796 | 4,945 | |
Cash Equivalents [Member] | Repurchase Agreements [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 5,000 | ||
Cash Equivalents [Member] | Repurchase Agreements [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 5,000 | ||
Cash Equivalents [Member] | US Treasury Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 5,997 | ||
Cash Equivalents [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 5,997 | ||
Cash Equivalents [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | ||
Short-term Investments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 32,802 | 5,743 | |
Short-term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 1,504 | 0 | |
Short-term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 31,298 | 5,743 | |
Short-term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Short-term Investments [Member] | Commercial Paper [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 29,097 | 5,743 | |
Short-term Investments [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Short-term Investments [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 29,097 | 5,743 | |
Short-term Investments [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Short-term Investments [Member] | Corporate Bond Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 2,201 | ||
Short-term Investments [Member] | Corporate Bond Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | ||
Short-term Investments [Member] | Corporate Bond Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 2,201 | ||
Short-term Investments [Member] | Corporate Bond Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | ||
Short-term Investments [Member] | US Treasury Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 1,504 | ||
Short-term Investments [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 1,504 | ||
Short-term Investments [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | ||
Short-term Investments [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | ||
Foreign Exchange Forward [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Obligations, Fair Value Disclosure | 18 | ||
Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Obligations, Fair Value Disclosure | 0 | ||
Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Obligations, Fair Value Disclosure | 18 | ||
Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Obligations, Fair Value Disclosure | 0 | ||
Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 157 | ||
Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Obligations, Fair Value Disclosure | 0 | ||
Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 157 | ||
Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Obligations, Fair Value Disclosure | 0 | ||
Deferred Compensation Plan Asset [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 3,473 | 3,058 |
Deferred Compensation Plan Asset [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 3,473 | 3,058 |
Deferred Compensation Plan Asset [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 0 | 0 |
Deferred Compensation Plan Asset [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 0 | 0 |
Deferred Compensation Plan Asset [Member] | Exchange Traded Funds [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | 2,519 | 845 | |
Deferred Compensation Plan Asset [Member] | Exchange Traded Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 2,519 | 845 |
Deferred Compensation Plan Asset [Member] | Exchange Traded Funds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 0 | 0 |
Deferred Compensation Plan Asset [Member] | Exchange Traded Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 0 | 0 |
Deferred Compensation Plan Asset [Member] | Money Market Funds [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 954 | 2,213 |
Deferred Compensation Plan Asset [Member] | Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 954 | 2,213 |
Deferred Compensation Plan Asset [Member] | Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 0 | 0 |
Deferred Compensation Plan Asset [Member] | Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Deferred Compensation Plan Assets | [1] | 0 | 0 |
Japan, Yen | Foreign Exchange Forward [Member] | Forward Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 54 | 9 | |
Japan, Yen | Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 54 | 9 | |
Taiwan, New Dollars | Foreign Exchange Forward [Member] | Forward Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 20 | ||
Obligations, Fair Value Disclosure | 18 | ||
Taiwan, New Dollars | Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 20 | ||
Obligations, Fair Value Disclosure | 18 | ||
Korea (South), Won | Foreign Exchange Forward [Member] | Forward Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 39 | ||
Obligations, Fair Value Disclosure | 21 | ||
Korea (South), Won | Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 39 | ||
Obligations, Fair Value Disclosure | 21 | ||
Euro Member Countries, Euro | Foreign Exchange Forward [Member] | Forward Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 47 | ||
Obligations, Fair Value Disclosure | 96 | ||
Euro Member Countries, Euro | Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 47 | ||
Obligations, Fair Value Disclosure | 96 | ||
United Kingdom, Pounds | Foreign Exchange Forward [Member] | Forward Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 81 | ||
United Kingdom, Pounds | Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 81 | ||
China, Yuan Renminbi | Foreign Exchange Forward [Member] | Forward Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 14 | ||
Obligations, Fair Value Disclosure | 5 | ||
China, Yuan Renminbi | Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | $ 14 | ||
Obligations, Fair Value Disclosure | 5 | ||
Singapore, Dollars | Foreign Exchange Forward [Member] | Forward Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Obligations, Fair Value Disclosure | 1 | ||
Singapore, Dollars | Foreign Exchange Forward [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Obligations, Fair Value Disclosure | $ 1 | ||
[1] | *These investments represent assets held in trust for the deferred compensation plan |
Trade Accounts Receivable (Deta
Trade Accounts Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Apr. 01, 2017 |
Trade Accounts Receivable [Abstract] | ||
Accounts Receivable, Net, Noncurrent | $ 194 | $ 489 |
Accounts Receivable, Net, Current | 47,565 | 40,494 |
Accounts Receivable, Net | $ 47,759 | $ 40,983 |
Inventories - Components of Inv
Inventories - Components of Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Apr. 01, 2017 |
Inventory Disclosure [Abstract] | ||
Raw materials and purchased parts | $ 43,824 | $ 41,383 |
Work-in-process | 13,753 | 13,829 |
Finished goods | 3,846 | 3,730 |
Inventories | $ 61,423 | $ 58,942 |
Other Current Assets (Details)
Other Current Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Apr. 01, 2017 |
Disclosure Other Current Assets [Abstract] | ||
Prepaid expenses | $ 3,267 | $ 3,646 |
Value added tax receivable | 1,127 | 1,704 |
Other | 915 | 830 |
Other current assets | $ 5,309 | $ 6,180 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Apr. 01, 2017 | |
Other Assets, Noncurrent Disclosure [Abstract] | ||
Demo equipment depreciation expense | $ 100 | |
Consignment and demo equipment, net | 8,353 | $ 11,011 |
Long term deposits | 3,755 | 2,872 |
Accounts Receivable, Net, Noncurrent | 194 | 489 |
Restricted Cash, Noncurrent | 1,098 | 1,090 |
Deferred Income Taxes and Other Assets, Noncurrent | 844 | 890 |
Accounts Receivable, Net | 47,759 | 40,983 |
Other | 3,769 | 3,958 |
Other assets | $ 17,819 | $ 19,821 |
Other Assets Other assets other
Other Assets Other assets other details (Details) $ in Millions | 3 Months Ended |
Sep. 30, 2017USD ($) | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Demo equipment depreciation expense | $ 0.1 |
Accrued Liabilities (Details)
Accrued Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Apr. 01, 2017 |
Disclosure Accrued Liabilities [Abstract] | ||
Payroll-related liabilities | $ 10,318 | $ 6,335 |
Product Warranty Accrual, Current | 4,929 | 3,394 |
Customer Deposits, Current | 6,221 | 1,242 |
Purchase order commitments and receipts | 3,631 | 2,522 |
Accrued Professional Fees, Current | 1,024 | 734 |
Long-term Debt, Current Maturities | 410 | 434 |
Restructuring Reserve | 2,466 | 4,996 |
Other | 3,051 | 2,529 |
Accrued liabilities | $ 32,050 | $ 22,186 |
Product Warranty (Details)
Product Warranty (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | |
Product Warranty | ||||
Standard and Extended Product Warranty Accrual | $ 6,538 | $ 5,947 | $ 5,474 | $ 5,734 |
Warranty charges incurred, net | (2,666) | (1,263) | (5,111) | (3,314) |
Provision for warranty charges | 3,284 | 837 | 6,793 | 3,101 |
Standard and Extended Product Warranty Accrual | 7,156 | $ 5,521 | 7,156 | $ 5,521 |
Product Warranty Accrual, Noncurrent | $ 2,250 | $ 2,250 | ||
Document Period End Date | Sep. 30, 2017 |
Deferred Revenue (Details)
Deferred Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | |
Deferred Revenue Disclosure [Abstract] | ||||
Deferred Revenue, Period Start | $ 15,616 | $ 9,757 | $ 15,397 | $ 7,685 |
Deferred Revenue, Noncurrent | 587 | 600 | 587 | 600 |
Revenue deferred | 31,182 | 9,119 | 46,652 | 19,472 |
Revenue recognized | (30,429) | (7,293) | (45,680) | (15,574) |
Deferred Revenue, Period Start | $ 16,369 | $ 11,583 | $ 16,369 | $ 11,583 |
Shareholders' Equity - Share re
Shareholders' Equity - Share repurchase (Details) $ in Millions | Dec. 09, 2011USD ($) |
Statement of Stockholders' Equity [Abstract] | |
Stock Repurchase Program, Authorized Amount | $ 20 |
Share-Based Compensation - Expe
Share-Based Compensation - Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs | ||||
Total share-based compensation expense | $ 1,330 | $ 1,518 | $ 2,608 | $ 2,809 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 2 years 5 months 12 days | |||
Cost of Sales | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs | ||||
Total share-based compensation expense | 77 | 136 | $ 144 | 256 |
Selling, General and Administrative Expenses | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs | ||||
Total share-based compensation expense | 1,070 | 1,205 | 2,131 | 2,182 |
Research and Development Expense | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs | ||||
Total share-based compensation expense | 183 | $ 177 | $ 333 | $ 371 |
Restricted Stock Units (RSUs) [Member] | ||||
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 | 396,400 | |||
Market-based [Member] | ||||
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 | 197,400 | |||
Performance Shares [Member] | ||||
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 | 0 | |||
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 | $ 9,600 | $ 9,600 |
Product and Geographic Inform50
Product and Geographic Information Revenue from Product Market (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | |
Revenue from External Customer [Line Items] | ||||
Revenue, Net | $ 70,967 | $ 29,658 | $ 143,651 | $ 77,326 |
Printed Circuit Board [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenue, Net | 43,541 | 13,527 | 95,859 | 44,445 |
Component Test [Member] [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenue, Net | 7,677 | 4,990 | 15,858 | 9,592 |
Semiconductor [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenue, Net | 12,028 | 7,222 | 18,765 | 14,831 |
Industrial Machining [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenue, Net | $ 7,721 | $ 3,919 | ||
Industrial Machining [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenue, Net | $ 13,169 | $ 8,458 |
Product and Geographic Inform51
Product and Geographic Information Revenue from Geographic Location table (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | |
Revenue from External Customer [Line Items] | ||||
Revenue, Net | $ 70,967 | $ 29,658 | $ 143,651 | $ 77,326 |
Asia [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenue, Net | 64,053 | 25,721 | 130,616 | 66,169 |
Americas [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenue, Net | 2,936 | 2,236 | 7,106 | 5,254 |
Europe [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenue, Net | $ 3,978 | $ 1,701 | $ 5,929 | $ 5,903 |
Restructuring and Cost Manage52
Restructuring and Cost Management Plans - Amounts Related to Restructuring Costs Payable (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |||||
Sep. 30, 2017 | Jul. 01, 2017 | Apr. 01, 2017 | |||||
Restructuring Reserve [Roll Forward] | |||||||
Restructuring Reserve Start | $ 4,996 | ||||||
Restructuring Reserve End | 2,466 | $ 4,996 | |||||
Q4 FY17 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Incurred Cost | 16,475 | $ 24,061 | 7,587 | ||||
Restructuring Reserve [Roll Forward] | |||||||
Restructuring Reserve Start | 4,135 | 0 | |||||
Restructuring Reserve End | 1,629 | 4,135 | |||||
Q4 FY17 Restructuring Plan [Member] | Employee Severance [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Incurred Cost | 577 | 4,165 | 3,588 | ||||
Restructuring Reserve [Roll Forward] | |||||||
Restructuring Reserve Start | 3,247 | 0 | |||||
Restructuring Reserve End | 152 | 3,247 | |||||
Q4 FY17 Restructuring Plan [Member] | Current Asset Impairments and Other Gross Profit [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Incurred Cost | 13,278 | [1] | $ 14,947 | [2] | 1,669 | [1] | |
Restructuring Reserve [Roll Forward] | |||||||
Restructuring Reserve Start | [1] | 0 | 0 | ||||
Restructuring Reserve End | [1] | 652 | 0 | ||||
Q4 FY17 Restructuring Plan [Member] | Site Closures and Non-current Asset Impairments [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Incurred Cost | 2,457 | ||||||
Chelmsford Plan [Domain] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Incurred Cost | 356 | 401 | |||||
Restructuring Reserve [Roll Forward] | |||||||
Restructuring Reserve Start | 861 | 757 | |||||
Restructuring Reserve End | $ 837 | $ 861 | |||||
[1] | (1) Asset and facilities costs include inventory charges recorded in cost of sales. | ||||||
[2] | (1) Current asset impairments include inventory charges recorded in cost of sales. |
Restructuring and Cost Manage53
Restructuring and Cost Management Plans Q4 FY17 Restructuring Plan Expected Costs (Details) - Q4 FY17 Restructuring Plan [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |||||
Sep. 30, 2017 | Jul. 01, 2017 | Apr. 01, 2017 | |||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | $ 24,661 | ||||||
Restructuring and Related Cost, Incurred Cost | 16,475 | $ 24,061 | $ 7,587 | ||||
Restructuring and Related Cost, Expected Cost Remaining | 600 | ||||||
Employee Severance [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | 4,165 | ||||||
Restructuring and Related Cost, Incurred Cost | 577 | 4,165 | 3,588 | ||||
Restructuring and Related Cost, Expected Cost Remaining | 0 | ||||||
Site Closures [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | 2,090 | ||||||
Restructuring and Related Cost, Incurred Cost | 800 | 1,690 | 888 | ||||
Restructuring and Related Cost, Expected Cost Remaining | 400 | ||||||
Current Asset Impairments and Other Gross Profit [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | [1] | 14,947 | |||||
Restructuring and Related Cost, Incurred Cost | 13,278 | [2] | 14,947 | [1] | 1,669 | [2] | |
Restructuring and Related Cost, Expected Cost Remaining | [1] | 0 | |||||
Non-Current Asset Impairments [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | 3,032 | ||||||
Restructuring and Related Cost, Incurred Cost | 1,657 | 3,032 | 1,376 | ||||
Restructuring and Related Cost, Expected Cost Remaining | 0 | ||||||
Other Restructuring [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | 427 | ||||||
Restructuring and Related Cost, Incurred Cost | 163 | $ 227 | $ 66 | ||||
Restructuring and Related Cost, Expected Cost Remaining | $ 200 | ||||||
[1] | (1) Current asset impairments include inventory charges recorded in cost of sales. | ||||||
[2] | (1) Asset and facilities costs include inventory charges recorded in cost of sales. |
Restructuring and Cost Manage54
Restructuring and Cost Management Plans Q4 FY17 Restructuring Plan Accrual Reconciliation (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2017 | Jul. 01, 2017 | Apr. 01, 2017 | Apr. 02, 2016 | |||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring Reserve | $ 2,466 | $ 4,996 | ||||||
Q4 FY17 Restructuring Plan [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring Reserve | 1,629 | 4,135 | $ 0 | |||||
Restructuring and Related Cost, Incurred Cost | 16,475 | $ 24,061 | 7,587 | |||||
Payments for Restructuring | (6,416) | (407) | ||||||
Restructuring Reserve, Settled without Cash | (12,565) | (3,045) | ||||||
Site Closures [Member] | Q4 FY17 Restructuring Plan [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring Reserve | 825 | 888 | 0 | |||||
Restructuring and Related Cost, Incurred Cost | 800 | 1,690 | 888 | |||||
Payments for Restructuring | (863) | 0 | ||||||
Restructuring Reserve, Settled without Cash | 0 | 0 | ||||||
Current Asset Impairments and Other Gross Profit [Member] | Q4 FY17 Restructuring Plan [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring Reserve | [1] | 652 | 0 | 0 | ||||
Restructuring and Related Cost, Incurred Cost | 13,278 | [1] | 14,947 | [2] | 1,669 | [1] | ||
Payments for Restructuring | [1] | (1,750) | 0 | |||||
Restructuring Reserve, Settled without Cash | [1] | (10,876) | (1,669) | |||||
Non-Current Asset Impairments [Member] | Q4 FY17 Restructuring Plan [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring Reserve | 0 | 0 | 0 | |||||
Restructuring and Related Cost, Incurred Cost | 1,657 | 3,032 | 1,376 | |||||
Payments for Restructuring | 0 | |||||||
Cash receipt for disposal of restructured assets | 32 | |||||||
Restructuring Reserve, Settled without Cash | (1,689) | (1,376) | ||||||
Other Restructuring [Member] | Q4 FY17 Restructuring Plan [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring Reserve | 0 | 0 | 0 | |||||
Restructuring and Related Cost, Incurred Cost | 163 | 227 | 66 | |||||
Payments for Restructuring | (163) | (66) | ||||||
Restructuring Reserve, Settled without Cash | 0 | 0 | ||||||
Employee Severance [Member] | Q4 FY17 Restructuring Plan [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring Reserve | 152 | 3,247 | $ 0 | |||||
Restructuring and Related Cost, Incurred Cost | 577 | $ 4,165 | 3,588 | |||||
Payments for Restructuring | (3,672) | (341) | ||||||
Restructuring Reserve, Settled without Cash | $ 0 | $ 0 | ||||||
[1] | (1) Asset and facilities costs include inventory charges recorded in cost of sales. | |||||||
[2] | (1) Current asset impairments include inventory charges recorded in cost of sales. |
Restructuring and Cost Manage55
Restructuring and Cost Management Plans Chelmsford Restructuring Plan Accrual (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Apr. 01, 2017 | Apr. 02, 2016 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | $ 2,466 | $ 4,996 | |
Chelmsford Plan [Domain] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 837 | 861 | $ 757 |
Payments for Restructuring | (380) | (297) | |
Restructuring and Related Cost, Incurred Cost | $ 356 | $ 401 |
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 | 6 Months Ended | ||
Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | |
Earnings Per Share [Abstract] | ||||
Net income (loss) | $ 4,260 | $ (9,675) | $ 7,162 | $ (9,793) |
Weighted average number of shares - basic | 33,861 | 32,396 | 33,647 | 32,109 |
Weighted Average Number Diluted Shares Outstanding Adjustment | 1,013 | 0 | 1,069 | 0 |
Net (loss) income per share - basic | $ 0.13 | $ (0.30) | $ 0.21 | $ (0.30) |
Net (loss) income per share - diluted | $ 0.12 | $ (0.30) | $ 0.21 | $ (0.30) |
Earnings (Loss) Per Share - Add
Earnings (Loss) Per Share - Additional Information (Details) - shares shares in Millions | 3 Months Ended | |
Sep. 30, 2017 | Oct. 01, 2016 | |
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 | 0.3 | 2.7 |
Business Acquisitions - Allocat
Business Acquisitions - Allocation of Purchase Price of Assets Acquired and Liabilities Assumed Based on the Fair Value (Details) - USD ($) $ in Thousands | Aug. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2017 | Oct. 01, 2016 | Apr. 01, 2017 | Jan. 15, 2015 |
Business Acquisition [Line Items] | |||||||
Allocated acquisition related compensation expenses - share based | $ 1,700 | $ 1,700 | |||||
Goodwill | 2,626 | 2,626 | $ 3,027 | ||||
Business Combination, Integration Related Costs | $ 0 | $ 335 | $ 0 | $ 335 | |||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables Allowance | $ 268 | ||||||
Visicon [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | $ 391 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | 982 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 6,200 | ||||||
Payments to Acquire Businesses, Gross | 116 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ 737 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 603,939 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 4,200 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 3,300 | ||||||
Goodwill | 2,626 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | (1,952) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets | $ 26 |
Business Acquisitions Business
Business Acquisitions Business Acquisition details (Details) - Visicon [Member] $ in Thousands | Aug. 01, 2016USD ($)shares |
Business Acquisition [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 3,300 |
Payments to Acquire Businesses, Gross | $ 2,000 |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 603,939 |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 4,200 |
Developed Technology Rights [Member] | |
Business Acquisition [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,000 |
Uncategorized Items - esio-2017
Label | Element | Value |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | $ 42,413,000 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | $ 57,732,000 |