Cirrus Logic (CRUS) 10-Q 28 Jan 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Dec. 28, 2013	Jan. 24, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Entity Registrant Name	'CIRRUS LOGIC INC	'
Entity Central Index Key	'0000772406	'
Entity Filer Category	'Large Accelerated Filer	'
Document Period End Date	28-Dec-13	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Current Fiscal Year End Date	'--03-29	'
Entity Common Stock, Shares Outstanding	'	62,318,377

Consolidated_Condensed_Balance

Consolidated Condensed Balance Sheets (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified
Assets	'	'
Cash and cash equivalents	$74,690	$66,402
Marketable securities	215,792	105,235
Accounts receivable, net	109,535	69,289
Inventories	69,985	119,300
Deferred tax assets	33,155	64,937
Other current assets	25,662	19,371
Total current assets	528,819	444,534
Long-term marketable securities	37,115	64,910
Property and equipment, net	102,542	100,623
Goodwill and intangibles, net	29,762	10,677
Deferred tax assets	17,354	16,671
Other assets	6,848	13,932
Total assets	722,440	651,347
Liabilities and Stockholders' Equity	'	'
Accounts payable	60,493	60,827
Accrued salaries and benefits	13,937	16,592
Deferred income	4,998	4,956
Other accrued liabilities	12,881	10,704
Total current liabilities	92,309	93,079
Long-term liabilities	5,108	10,094
Stockholders' equity:	'	'
Capital stock	1,069,113	1,041,834
Accumulated deficit	-443,322	-492,741
Accumulated other comprehensive loss	-768	-919
Total stockholders' equity	625,023	548,174
Total liabilities and stockholders' equity	$722,440	$651,347

Consolidated_Condensed_Stateme

Consolidated Condensed Statements Of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Consolidated Condensed Statements Of Comprehensive Income [Abstract]	'	'	'	'
Net sales	$218,883	$310,133	$564,679	$602,913
Cost of sales	115,034	152,083	281,884	291,336
Gross profit	103,849	158,050	282,795	311,577
Operating expenses	'	'	'	'
Research and development	32,426	29,608	90,678	83,986
Selling, general and administrative	18,625	19,021	57,038	57,274
Patent infringement settlements, net	0	0	695	0
Restructuring and other, net	12	3,292	-572	3,292
Total operating expenses	51,063	51,921	147,839	144,552
Income from operations	52,786	106,129	134,956	167,025
Interest income, net	222	76	581	334
Other expense, net	-45	-31	-100	-94
Income before income taxes	52,963	106,174	135,437	167,265
Provision for income taxes	11,463	38,312	39,928	57,027
Net income	41,500	67,862	95,509	110,238
Change in unrealized gain (loss) on marketable securities, net of tax	-42	-30	151	-11
Comprehensive income	$41,458	$67,832	$95,660	$110,227
Basic earnings per share	$0.66	$1.04	$1.51	$1.70
Diluted earnings per share	$0.63	$0.99	$1.45	$1.60
Basic weighted average common shares outstanding	62,854	65,055	63,170	64,859
Diluted weighted average common shares outstanding	65,368	68,866	65,894	68,946

Consolidated_Condensed_Stateme1

Consolidated Condensed Statements Of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012
Cash flows from operating activities:	'	'
Net income	$95,509	$110,238
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	10,846	10,040
Stock compensation expense	17,713	15,760
Deferred income taxes	36,914	52,602
(Gain) loss on retirement or write-off of long-lived assets	165	-342
Excess tax benefit related to the exercise of employee stock options	-5,113	0
Other non-cash charges	3,996	2,872
Net change in operating assets and liabilities:	'	'
Accounts receivable, net	-39,500	-126,626
Inventories	49,315	-83,329
Other assets	-5,785	-2,270
Accounts payable and other accrued liabilities	-1,062	53,116
Deferred income	27	-1,649
Income taxes payable	0	-35
Net cash provided by operating activities	163,025	30,377
Cash flows from investing activities:	'	'
Proceeds from sale of available for sale marketable securities	69,394	96,139
Purchases of available for sale marketable securities	-152,005	-38,076
Purchases of property, equipment and software	-12,785	-51,405
Acquisition of Acoustic Technologies, net of cash obtained	-20,432	0
Proceeds from sale of Apex assets	0	22,220
(Increase) decrease in deposits and other assets	-2,385	493
Net cash (used in) provided by investing activities	-118,213	29,371
Cash flows from financing activities:	'	'
Issuance of common stock, net of shares withheld for taxes	754	9,563
Repurchase and retirement of common stock	-42,391	-47,856
Excess tax benefit related to the exercise of employee stock options	5,113	0
Net cash used in financing activities	-36,524	-38,293
Net increase in cash and cash equivalents	8,288	21,455
Cash and cash equivalents at beginning of period	66,402	65,997
Cash and cash equivalents at end of period	$74,690	$87,452

Basis_Of_Presentation

Basis Of Presentation	9 Months Ended
	Dec. 28, 2013
Basis Of Presentation [Abstract]	'
Basis Of Presentation	'
	1.     Basis of Presentation
	The consolidated condensed financial statements have been prepared by Cirrus Logic, Inc. (“Cirrus Logic,” “we,” “us,” “our,” or the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”).  The accompanying unaudited consolidated condensed financial statements do not include complete footnotes and financial presentations.  As a result, these financial statements should be read along with the audited consolidated financial statements and notes thereto for the year ended March 30, 2013, included in our Annual Report on Form 10-K filed with the Commission on May 29, 2013.  In our opinion, the financial statements reflect all adjustments, including normal recurring adjustments, necessary for a fair presentation of the financial position, operating results and cash flows for those periods presented.  The preparation of financial statements in conformity with United States (“U.S.”) generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect reported assets, liabilities, revenues and expenses, as well as disclosure of contingent assets and liabilities.  Actual results could differ from those estimates and assumptions.  Moreover, the results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the entire year.

Marketable_Securities

Marketable Securities	9 Months Ended
	Dec. 28, 2013
Marketable Securities [Abstract]	'
Marketable Securities	'
	2.     Marketable Securities
	The Company’s investments that have original maturities greater than 90 days have been classified as available-for-sale securities in accordance with U.S. GAAP.  Marketable securities are categorized on the consolidated condensed balance sheet as short- and long-term marketable securities, as appropriate.
	The following table is a summary of available-for-sale securities at December 28, 2013 (in thousands):
											Estimated
					Gross			Gross			Fair Value
		Amortized			Unrealized			Unrealized			(Net Carrying
	As of December 28, 2013	Cost			Gains			Losses			Amount)
	Corporate debt securities	$	174,157		$	57		$	-74		$	174,140
	U.S. Treasury securities		43,722			8			-5			43,725
	Agency discount notes		4,014			2			-			4,016
	Commercial paper		31,012			14			-			31,026
	Total securities	$	252,905		$	81		$	-79		$	252,907
	The Company’s specifically identified gross unrealized losses of $79 thousand relates to 47 different securities with total amortized cost of approximately  $131.6 million at December 28, 2013.  Because the Company does not intend to sell the investments at a loss and the Company will not be required to sell the investments before recovery of its amortized cost basis, it did not consider the investment in these securities to be other-than-temporarily impaired at December 28, 2013.  Further, the securities with gross unrealized losses had been in a continuous unrealized loss position for less than 12 months as of December 28, 2013.
	The following table is a summary of available-for-sale securities at March 30, 2013 (in thousands):
											Estimated
					Gross			Gross			Fair Value
		Amortized			Unrealized			Unrealized			(Net Carrying
	As of March 30, 2013	Cost			Gains			Losses			Amount)
	Corporate debt securities	$	94,798		$	2		$	-133		$	94,667
	U.S. Treasury securities		34,380			4			-3			34,381
	Agency discount notes		1,027			-			-			1,027
	Commercial paper		40,089			9			-28			40,070
	Total securities	$	170,294		$	15		$	-164		$	170,145
	The Company’s specifically identified gross unrealized losses of $164 thousand relates to 43 different securities with total amortized cost of approximately $124.1 million at March 30, 2013.  Because the Company does not intend to sell the investments at a loss and the Company will not be required to sell the investments before recovery of its amortized cost basis, it did not consider the investment in these securities to be other-than-temporarily impaired at March 30, 2013.  Further, the securities with gross unrealized losses had been in a continuous unrealized loss position for less than 12 months as of March 30, 2013.
	The cost and estimated fair value of available-for-sale securities by contractual maturities were as follows (in thousands):
			28-Dec-13						30-Mar-13
			Amortized			Estimated			Amortized			Estimated
			Cost			Fair Value			Cost			Fair Value
	Within 1 year		$	215,742		$	215,792		$	105,290		$	105,235
	After 1 year			37,163			37,115			65,004			64,910
	Total		$	252,905		$	252,907		$	170,294		$	170,145

Fair_Value_Of_Financial_Instru

Fair Value Of Financial Instruments	9 Months Ended
	Dec. 28, 2013
Fair Value Of Financial Instruments [Abstract]	'
Fair Value Of Financial Instruments	'
	3.     Fair Value of Financial Instruments
	The Company has determined that the only assets and liabilities in the Company’s financial statements that are required to be measured at fair value on a recurring basis are the Company’s cash equivalents and investment portfolio assets.  The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).
		•	Level 1 - Quoted prices in active markets for identical assets or liabilities.
		•	Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
		•	Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	The Company’s investment portfolio assets consist of corporate debt securities, money market funds, U.S. Treasury securities, obligations of certain U.S. government-sponsored enterprises, and commercial paper, and are reflected on our consolidated condensed balance sheets under the headings cash and cash equivalents, marketable securities, and long-term marketable securities.  The Company determines the fair value of its investment portfolio assets by obtaining non-binding market prices from its third-party portfolio managers on the last day of the quarter, whose sources may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value.
	As of  December 28, 2013, the Company classified its investment portfolio assets as Level 1 or Level 2 inputs.  The Company has no Level 3 assets.  There were no transfers between Level 1, Level 2, or Level 3 measurements for the three month period ending December 28, 2013.
	The fair value of our financial assets at  December 28, 2013, was determined using the following inputs (in thousands):
		Quoted Prices
		in Active		Significant
		Markets for		Other		Significant
		Identical		Observable		Unobservable
		Assets		Inputs		Inputs
		Level 1		Level 2		Level 3		Total
	Cash equivalents
	Money market funds	$	34,949	$	-	$	-	$	34,949
	Commercial paper		-		3,100		-		3,100
		$	34,949	$	3,100	$	-	$	38,049
	Available-for-sale securities
	Corporate debt securities	$	-	$	174,140	$	-	$	174,140
	U.S. Treasury securities		43,725		-		-		43,725
	Agency discount notes		-		4,016		-		4,016
	Commercial paper		-		31,026		-		31,026
		$	43,725	$	209,182	$	-	$	252,907
	The fair value of our financial assets at March 30, 2013, was determined using the following inputs (in thousands):
		Quoted Prices
		in Active		Significant
		Markets for		Other		Significant
		Identical		Observable		Unobservable
		Assets		Inputs		Inputs
		Level 1		Level 2		Level 3		Total
	Cash equivalents
	Money market funds	$	54,762	$	-	$	-	$	54,762
	Commercial paper		-		1,500		-		1,500
		$	54,762	$	1,500	$	-	$	56,262
	Available-for-sale securities
	Corporate debt securities	$	-	$	94,667	$	-	$	94,667
	U.S. Treasury securities		34,381		-		-		34,381
	Agency discount notes		-		1,027		-		1,027
	Commercial paper		-		40,070		-		40,070
		$	34,381	$	135,764	$	-	$	170,145

Accounts_Receivable_Net

Accounts Receivable, Net	9 Months Ended
	Dec. 28, 2013
Accounts Receivable, Net [Abstract]	'
Accounts Receivable, Net	'
	4.     Accounts Receivable, net
	The following are the components of accounts receivable, net (in thousands):
		December 28,		March 30,
		2013		2013
	Gross accounts receivable	$	109,834	$	69,590
	Allowance for doubtful accounts		-299		-301
	Accounts receivable, net	$	109,535	$	69,289

Inventories

Inventories	9 Months Ended
	Dec. 28, 2013
Inventories [Abstract]	'
Inventories	'
	5.     Inventories
	Inventories are comprised of the following (in thousands):
		December 28,		March 30,
		2013		2013
	Work in process	$	40,949	$	34,169
	Finished goods		29,036		85,131
		$	69,985	$	119,300

Restructuring_Costs

Restructuring Costs	9 Months Ended
	Dec. 28, 2013
Restructuring and Related Activities [Abstract]	'
Restructuring and Related Activities Disclosure [Text Block]	'
	6.     Restructuring Costs
	In the third quarter of fiscal year 2013, the Company committed to a plan to close its Tucson, Arizona design center and move those operations to the Company’s headquarters in Austin, Texas.  As a result, the Company incurred a restructuring charge for relocation, severance-related items and facility-related costs to operating expenses totaling $3.5 million in the third quarter of fiscal year 2013.  For the three months ended December 28, 2013, the Company reported an insignificant charge and for the nine months ended December 28, 2013, the Company reported a credit of approximately $0.6 million, respectively, related to changes in estimates for the facility, due to a new sublease on the vacated property.  This information, along with asset sale activities described in Note 7 of our Form 10-K for the year ended March 30, 2013,  is presented as a separate line item on the consolidated condensed statements of comprehensive income in operating expenses under the caption “Restructuring and other, net.”
	Of the net $2.9 million expense incurred, approximately $2.4 million has been completed, and consisted of severance and relocation-related costs of approximately $1.2 million, an asset impairment charge of approximately $1.0 million, and facility-related costs of approximately $0.2 million.    As of December 28, 2013, we have a remaining restructuring accrual of $0.5  million, included in “Other accrued liabilities” and “Long-term liabilities” on the consolidated condensed balance sheet, which will continue to be completed through calendar year 2015.

Acquisition

Acquisition	9 Months Ended
	Dec. 28, 2013
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	7.    Acquisition
	On October 1, 2013, the Company acquired 100 percent of the outstanding equity of Acoustic Technologies, Inc. (“Acoustic”), a privately held company.  The Mesa, Ariz.,-based firm is a leader in embedded firmware voice processing technology, including noise reduction, echo cancelation and voice enhancement.  This strategic acquisition enhances the Company’s technology and software expertise in our portable audio applications.
	The Company acquired Acoustic for approximately $20.4 million net and recorded the purchase using the acquisition method of accounting.  This method allows for the recognition of the assets acquired and liabilities assumed at their fair values as of the acquisition date.  The Company is continuing to evaluate the fair values of the consideration transferred, assets acquired and liabilities assumed and expects to complete its purchase price allocation by the end of fiscal year 2014.
	The consolidated condensed statements of comprehensive income presented include Acoustic’s results of operations beginning on the date of the acquisition.  Pro forma information related to this acquisition has not been presented because it would not be materially different from amounts reported.

Income_Taxes

Income Taxes	9 Months Ended
	Dec. 28, 2013
Income Taxes [Abstract]	'
Income Taxes	'
	8.    Income Taxes
	Our provision for income taxes is based on estimated effective tax rates derived from an estimate of annual consolidated earnings before taxes, adjusted for nondeductible expenses, other permanent items and any applicable credits. Our income tax expense is primarily a non-cash charge due to the utilization of U.S. net operating losses.
	The following table presents the provision for income taxes and the effective tax rates (in thousands):
		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		December 29,
		2013		2012		2013		2012
	Income before income taxes	$	52,963	$	106,174	$	135,437	$	167,265
	Provision for income taxes	$	11,463	$	38,312	$	39,928	$	57,027
	Effective tax rate		21.6%		36.1%		29.5%		34.1%
	Our income tax expense for the third quarter and first nine months of fiscal year 2014 was below the federal statutory rate primarily due to the effect of a tax benefit of $6.3 million provided by the Extraterritorial Income Exclusion Act, an elective provision of the Internal Revenue Code.  Another factor causing our tax expense to be below the federal statutory rate was the federal research development credit, which was extended through December 31, 2013 by the American Taxpayer Relief Act of 2012, which was enacted on January 2, 2013.   Our income tax expense for the third quarter of fiscal year 2013 was slightly above the federal statutory rate primarily due to the effect of state income taxes and nondeductible expenses.  Our income tax expense for the first nine months of fiscal year 2013 was below the federal statutory rate primarily due to the release of valuation allowance on the Company’s deferred tax assets in the second quarter of fiscal year 2013.  The release was due to the sale of assets of Apex Microtechnology (“Apex”), which generated sufficient capital gain to utilize a capital loss carry forward that was previously expected to expire unutilized.
	We had no unrecognized tax benefits as of December 28, 2013.  The Company does not believe that its unrecognized tax benefits will significantly increase or decrease during the next 12 months.
	We accrue interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes.  As of December 28, 2013, the balance of accrued interest and penalties was zero.  No interest or penalties were incurred during the first nine months of fiscal year 2014 or 2013.
	The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax in multiple state and foreign jurisdictions.  Fiscal years 2011 through 2013 remain open to examination by the major taxing jurisdictions to which we are subject.

Net_Income_Per_Share

Net Income Per Share	9 Months Ended
	Dec. 28, 2013
Net Income Per Share [Abstract]	'
Net Income Per Share	'
	9.     Net Income Per Share
	Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period.  Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding.  These potentially dilutive items consist primarily of outstanding stock options and restricted stock awards.
	The following table details the calculation of basic and diluted earnings per share for the three and nine months ended December 28, 2013 and December 29, 2012 (in thousands, except per share amounts):
		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		December 29,
		2013		2012		2013		2012
	Numerator:
	Net income	$	41,500	$	67,862	$	95,509	$	110,238
	Denominator:
	Weighted average shares outstanding		62,854		65,055		63,170		64,859
	Effect of dilutive securities		2,514		3,811		2,724		4,087
	Weighted average diluted shares		65,368		68,866		65,894		68,946
	Basic earnings per share	$	0.66	$	1.04	$	1.51	$	1.70
	Diluted earnings per share	$	0.63	$	0.99	$	1.45	$	1.60
	The weighted outstanding options excluded from our diluted calculation for the three and nine months ended December 28, 2013, were 1,226,000,  and 1,305,000, respectively.  The weighted outstanding options excluded from our diluted calculation for the three and nine months ended December 29, 2012, were 924,000 and 309,000, respectively.  These options were excluded as the exercise price exceeded the average market price during the periods.

Legal_Matters

Legal Matters	9 Months Ended
	Dec. 28, 2013
Legal Matters [Abstract]	'
Legal Matters	'
	10.     Legal Matters
	From time to time, we are involved in legal proceedings concerning matters arising in connection with the conduct of our business activities.  We regularly evaluate the status of legal proceedings in which we are involved in order to assess whether a loss is probable or there is a reasonable possibility that a loss or additional loss may have been incurred and determine if accruals are appropriate.  We further evaluate each legal proceeding to assess whether an estimate of possible loss or range of loss can be made.
	On June 4, 2012, U.S. Ethernet Innovations, LLC (the “Plaintiff”) filed suit against Cirrus Logic and two other defendants in the U.S. District Court, Eastern District of Texas.  The Plaintiff alleges that Cirrus Logic infringed four U.S. patents relating to Ethernet technology.  In its complaint, the Plaintiff indicated that it is seeking unspecified monetary damages, including up to treble damages for willful infringement.  We answered the complaint on June 29, 2012, denying the allegations of infringement and seeking a declaratory judgment that the patents in suit were invalid and not infringed.  The parties entered into a settlement agreement on May 30, 2013.  In exchange for a full release of claims as it relates to the asserted patent, we paid the Plaintiff $0.7 million.  This amount is recorded as a separate line item on the consolidated condensed statements of comprehensive income under the caption “Patent infringement settlements, net.”
	On February 4, 2013, a purported shareholder filed a class action complaint in the U.S. District Court, Southern District of New York against the Company and two of the Company’s executives (the “Securities Case”). Koplyay v. Cirrus Logic, Inc., et al., Civil Action No. 13-CV-0790. The complaint alleges that the defendants violated the federal securities laws by making materially false and misleading statements regarding our business results between July 31, 2012, and October 31, 2012, and seeks unspecified damages along with plaintiff’s costs and expenses, including attorneys’ fees.  A second complaint was filed on April 13, 2013, by a different purported shareholder, in the same Court, setting forth substantially the same allegations.  On April 19, 2013, the Court appointed the plaintiff and counsel in the first class action complaint as the lead plaintiff and lead counsel.  The lead plaintiff filed an amended complaint on May 1, 2013, including substantially the same allegations as the original complaint.  On May 24, 2013, the Company filed a motion to dismiss the amended complaint for failure to state a claim.  On December 2, 2013, the Court granted the Company’s motion and dismissed the case with prejudice.  The plaintiff did not appeal the Court’s order and the case has concluded.
	For the case described below, management is unable to provide a meaningful estimate of the possible loss or range of possible loss because, among other reasons, (i) the proceedings are in various stages; (ii) damages have not been sought or specified; (iii) damages are unsupported and/or exaggerated; (iv) there is uncertainty as to the outcome of pending appeals or motions; (v) there are significant factual issues to be resolved; and/or (vi) there are novel legal issues or unsettled legal theories to be presented or a large number of parties.  For this case, however, management does not believe, based on currently available information, that the outcome of this proceeding will have a material adverse effect on our financial condition.  However, the ultimate resolutions of theis proceeding and matters are inherently difficult to predict; as such, our operating results could be materially affected  by the unfavorable resolution of this proceeding or matters for any particular period, depending, in part, upon the operating results for such period.  We intend to vigorously defend ourselves against the allegations made in the legal case described below.
	On April 13, 2013, another purported shareholder filed a shareholder derivative complaint against several of our current officers and directors in the District Court of Travis County, Texas, 53rd Judicial District. Graham, derivatively on behalf of Cirrus Logic, Inc. v. Rhode, et al., Cause No. D-1-GN-13-001285.  In this complaint, the plaintiff makes allegations similar to those presented in the Securities Case, but the plaintiff asserts various state law causes of action, including claims of breach of fiduciary duty and unjust enrichment.  The Company is named solely as a nominal defendant against whom no recovery is sought.

Stockholders_Equity

Stockholders' Equity	9 Months Ended
	Dec. 28, 2013
Stockholders' Equity [Abstract]	'
Stockholder's Equity	'
	11.   Stockholders’ Equity
	Common Stock
	The Company issued a net 0.8 million and 1.1 million shares of common stock for the three and nine month periods ending December 28, 2013, respectively, in connection with stock issuances during the respective periods pursuant to our 2006 Stock Incentive Plan.  The Company issued a net 0.3 million and 1.4 million shares of common stock for the three and nine month periods ending December  29, 2012, respectively,  in connection with stock issuances during the respective periods pursuant to our 2006 Stock Incentive Plan.
	Share Repurchase Program
	On November 20, 2012, we announced that our Board of Directors authorized a share repurchase program of up to $200 million of the Company’s common stock.  Since inception, $128.0 million of the Company’s common stock has been repurchased under the plan, leaving $72.0 million available for repurchase under this plan as of December 28, 2013.  During the three months ended December 28, 2013, the Company repurchased 1.5 million shares of its common stock for $29.7 million, at an average cost of $19.37.  The Company repurchased 2.1 million shares of its common stock for $42.4 million during the nine months ended December 28, 2013, at an average cost of $19.85 per share.  During fiscal year 2013, the Company repurchased 3.0 million shares of its common stock for a total of $85.6  million.  All of these shares were repurchased in the open market and were funded from existing cash.  All shares of our common stock that were repurchased were retired as of December 28, 2013.

Segment_Information

Segment Information	9 Months Ended
	Dec. 28, 2013
Segment Information [Abstract]	'
Segment Information	'
	12.   Segment Information
	We determine our operating segments in accordance with Financial Accounting Standards Board guidelines.  Our Chief Executive Officer (“CEO”) has been identified as the chief operating decision maker under these guidelines.
	The Company operates and tracks its results in one reportable segment, but reports revenue performance in two product lines, which currently are audio and energy.   Our CEO receives and uses enterprise-wide financial information to assess financial performance and allocate resources, rather than detailed information at a product line level.  Additionally, our product lines have similar characteristics and customers.  They share operations support functions such as sales, public relations, supply chain management, various research and development and engineering support, in addition to the general and administrative functions of human resources, legal, finance and information technology.  Therefore, there is no complete, discrete financial information maintained for these product lines.
	Revenues from our product lines are as follows (in thousands):
		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		December 29,
		2013		2012		2013		2012
	Audio Products	$	206,388	$	300,010	$	529,966	$	558,671
	Energy Products		12,495		10,123		34,713		44,242
		$	218,883	$	310,133	$	564,679	$	602,913

Marketable_Securities_Tables

Marketable Securities (Tables)	9 Months Ended
	Dec. 28, 2013
Marketable Securities [Abstract]	'
Schedule Of Available-for-sale Securities	'
											Estimated
					Gross			Gross			Fair Value
		Amortized			Unrealized			Unrealized			(Net Carrying
	As of December 28, 2013	Cost			Gains			Losses			Amount)
	Corporate debt securities	$	174,157		$	57		$	-74		$	174,140
	U.S. Treasury securities		43,722			8			-5			43,725
	Agency discount notes		4,014			2			-			4,016
	Commercial paper		31,012			14			-			31,026
	Total securities	$	252,905		$	81		$	-79		$	252,907
	The Company’s specifically identified gross unrealized losses of $79 thousand relates to 47 different securities with total amortized cost of approximately  $131.6 million at December 28, 2013.  Because the Company does not intend to sell the investments at a loss and the Company will not be required to sell the investments before recovery of its amortized cost basis, it did not consider the investment in these securities to be other-than-temporarily impaired at December 28, 2013.  Further, the securities with gross unrealized losses had been in a continuous unrealized loss position for less than 12 months as of December 28, 2013.
	The following table is a summary of available-for-sale securities at March 30, 2013 (in thousands):
											Estimated
					Gross			Gross			Fair Value
		Amortized			Unrealized			Unrealized			(Net Carrying
	As of March 30, 2013	Cost			Gains			Losses			Amount)
	Corporate debt securities	$	94,798		$	2		$	-133		$	94,667
	U.S. Treasury securities		34,380			4			-3			34,381
	Agency discount notes		1,027			-			-			1,027
	Commercial paper		40,089			9			-28			40,070
	Total securities	$	170,294		$	15		$	-164		$	170,145
Schedule of Cost And Estimated Fair Value Of Available-for-sale Securities By Contractual Maturity	'
			28-Dec-13						30-Mar-13
			Amortized			Estimated			Amortized			Estimated
			Cost			Fair Value			Cost			Fair Value
	Within 1 year		$	215,742		$	215,792		$	105,290		$	105,235
	After 1 year			37,163			37,115			65,004			64,910
	Total		$	252,905		$	252,907		$	170,294		$	170,145

Recovered_Sheet1

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Dec. 28, 2013
Fair Value Of Financial Instruments [Abstract]	'
Schedule Of Fair Value Of Financial Assets	'
		Quoted Prices
		in Active		Significant
		Markets for		Other		Significant
		Identical		Observable		Unobservable
		Assets		Inputs		Inputs
		Level 1		Level 2		Level 3		Total
	Cash equivalents
	Money market funds	$	34,949	$	-	$	-	$	34,949
	Commercial paper		-		3,100		-		3,100
		$	34,949	$	3,100	$	-	$	38,049
	Available-for-sale securities
	Corporate debt securities	$	-	$	174,140	$	-	$	174,140
	U.S. Treasury securities		43,725		-		-		43,725
	Agency discount notes		-		4,016		-		4,016
	Commercial paper		-		31,026		-		31,026
		$	43,725	$	209,182	$	-	$	252,907
	The fair value of our financial assets at March 30, 2013, was determined using the following inputs (in thousands):
		Quoted Prices
		in Active		Significant
		Markets for		Other		Significant
		Identical		Observable		Unobservable
		Assets		Inputs		Inputs
		Level 1		Level 2		Level 3		Total
	Cash equivalents
	Money market funds	$	54,762	$	-	$	-	$	54,762
	Commercial paper		-		1,500		-		1,500
		$	54,762	$	1,500	$	-	$	56,262
	Available-for-sale securities
	Corporate debt securities	$	-	$	94,667	$	-	$	94,667
	U.S. Treasury securities		34,381		-		-		34,381
	Agency discount notes		-		1,027		-		1,027
	Commercial paper		-		40,070		-		40,070
		$	34,381	$	135,764	$	-	$	170,145

Accounts_Receivable_Net_Tables

Accounts Receivable, Net (Tables)	9 Months Ended
	Dec. 28, 2013
Accounts Receivable, Net [Abstract]	'
Components Of Accounts Receivable, Net	'
		December 28,		March 30,
		2013		2013
	Gross accounts receivable	$	109,834	$	69,590
	Allowance for doubtful accounts		-299		-301
	Accounts receivable, net	$	109,535	$	69,289

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Dec. 28, 2013
Inventories [Abstract]	'
Schedule Of Inventories	'
		December 28,		March 30,
		2013		2013
	Work in process	$	40,949	$	34,169
	Finished goods		29,036		85,131
		$	69,985	$	119,300

Income_Taxes_Tables

Income Taxes (Tables)	9 Months Ended
	Dec. 28, 2013
Income Taxes [Abstract]	'
Schedule of Provision for Income Taxes and Effective Tax Rates [Table Text Block]	'
		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		December 29,
		2013		2012		2013		2012
	Income before income taxes	$	52,963	$	106,174	$	135,437	$	167,265
	Provision for income taxes	$	11,463	$	38,312	$	39,928	$	57,027
	Effective tax rate		21.6%		36.1%		29.5%		34.1%

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	9 Months Ended
	Dec. 28, 2013
Net Income Per Share [Abstract]	'
Calculation Of Basic And Diluted Earnings Per Share	'
		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		December 29,
		2013		2012		2013		2012
	Numerator:
	Net income	$	41,500	$	67,862	$	95,509	$	110,238
	Denominator:
	Weighted average shares outstanding		62,854		65,055		63,170		64,859
	Effect of dilutive securities		2,514		3,811		2,724		4,087
	Weighted average diluted shares		65,368		68,866		65,894		68,946
	Basic earnings per share	$	0.66	$	1.04	$	1.51	$	1.70
	Diluted earnings per share	$	0.63	$	0.99	$	1.45	$	1.60

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Dec. 28, 2013
Segment Information [Abstract]	'
Schedule Of Segment Revenue From Product Lines	'
		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		December 29,
		2013		2012		2013		2012
	Audio Products	$	206,388	$	300,010	$	529,966	$	558,671
	Energy Products		12,495		10,123		34,713		44,242
		$	218,883	$	310,133	$	564,679	$	602,913

Marketable_Securities_Schedule

Marketable Securities (Schedule of Available-for-sale Securities) (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	$252,905	$170,294
Gross Unrealized Gains	81	15
Gross Unrealized Losses	79	164
Estimated Fair Value (Net Carrying Amount)	252,907	170,145
Corporate Debt Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	174,157	94,798
Gross Unrealized Gains	57	2
Gross Unrealized Losses	74	133
Estimated Fair Value (Net Carrying Amount)	174,140	94,667
U.S. Treasury Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	43,722	34,380
Gross Unrealized Gains	8	4
Gross Unrealized Losses	5	3
Estimated Fair Value (Net Carrying Amount)	43,725	34,381
Agency Discount Notes [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	4,014	1,027
Gross Unrealized Gains	2	0
Gross Unrealized Losses	0	0
Estimated Fair Value (Net Carrying Amount)	4,016	1,027
Commercial Paper [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	31,012	40,089
Gross Unrealized Gains	14	9
Gross Unrealized Losses	0	28
Estimated Fair Value (Net Carrying Amount)	$31,026	$40,070

Marketable_Securities_Narrativ

Marketable Securities (Narrative) (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
	security	security
Marketable Securities [Abstract]	'	'
Minimum Maturity Period Of Investments To Be Classified As Available For Sale Securities	'90 days	'
Gross Unrealized Losses	$79,000	$164,000
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	47	43
Available For Sale Securities Amortized Cost On Gross Unrealized Losses	$131,600,000	$124,100,000

Marketable_Securities_Schedule1

Marketable Securities (Schedule of Cost And Estimated Fair Value Of Available-for-sale Securities By Contractual Maturity) (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified
Marketable Securities [Abstract]	'	'
Within 1 year, Amortized Cost	$215,742	$105,290
After 1 year, Amortized Cost	37,163	65,004
Within 1 year, Estimated Fair Value	215,792	105,235
After 1 year, Estimated Fair Value	37,115	64,910
Amortized Cost	252,905	170,294
Estimated Fair Value	$252,907	$170,145

Fair_Value_Of_Financial_Instru1

Fair Value Of Financial Instruments (Schedule Of Fair Value Of Financial Assets) (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified
Cash Equivalents [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	$38,049	$56,262
Cash Equivalents [Member] | Quoted Prices In Active Markets For Identical Assets Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	34,949	54,762
Cash Equivalents [Member] | Significant Other Observable Inputs Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	3,100	1,500
Cash Equivalents [Member] | Money-Market Funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	34,949	54,762
Cash Equivalents [Member] | Money-Market Funds [Member] | Quoted Prices In Active Markets For Identical Assets Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	34,949	54,762
Cash Equivalents [Member] | Commercial Paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	3,100	1,500
Cash Equivalents [Member] | Commercial Paper [Member] | Significant Other Observable Inputs Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	3,100	1,500
Available-for-sale Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	252,907	170,145
Available-for-sale Securities [Member] | Quoted Prices In Active Markets For Identical Assets Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	43,725	34,381
Available-for-sale Securities [Member] | Significant Other Observable Inputs Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	209,182	135,764
Available-for-sale Securities [Member] | Corporate Debt Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	174,140	94,667
Available-for-sale Securities [Member] | Corporate Debt Securities [Member] | Significant Other Observable Inputs Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	174,140	94,667
Available-for-sale Securities [Member] | U.S. Treasury Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	43,725	34,381
Available-for-sale Securities [Member] | U.S. Treasury Securities [Member] | Quoted Prices In Active Markets For Identical Assets Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	43,725	34,381
Available-for-sale Securities [Member] | Agency Discount Notes [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	4,016	1,027
Available-for-sale Securities [Member] | Agency Discount Notes [Member] | Significant Other Observable Inputs Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	4,016	1,027
Available-for-sale Securities [Member] | Commercial Paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	31,026	40,070
Available-for-sale Securities [Member] | Commercial Paper [Member] | Significant Other Observable Inputs Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of financial assets	$31,026	$40,070

Accounts_Receivable_Net_Compon

Accounts Receivable, Net (Components Of Accounts Receivable, Net) (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified
Accounts Receivable, Net [Abstract]	'	'
Gross accounts receivable	$109,834	$69,590
Allowance for doubtful accounts	-299	-301
Accounts receivable, net	$109,535	$69,289

Inventories_Schedule_Of_Invent

Inventories (Schedule Of Inventories) (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified
Inventories [Abstract]	'	'
Work in process	$40,949	$34,169
Finished goods	29,036	85,131
Total inventories	$69,985	$119,300

Restructuring_Costs_Details

Restructuring Costs (Details) (USD $)	3 Months Ended		9 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Restructuring and Related Activities [Abstract]	'	'	'	'
Restructuring Charges	$12,000	$3,292,000	($572,000)	$3,292,000
Restructuring and Related Cost, Cost Incurred to Date	'	3,500,000	2,900,000	'
Restructuring Costs	'	'	2,400,000	'
Business Exit Costs	'	'	1,200,000	'
Asset Impairment Charges	'	'	1,000,000	'
Facility related costs incurred	'	'	200,000	'
Remaining Restructuring Accrual	$500,000	'	$500,000	'

Acquisition_Narrative_Details

Acquisition (Narrative) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012
Payments to Acquire Businesses, Net of Cash Acquired [Abstract]	'	'
Payments to Acquire Businesses, Net of Cash Acquired	$20,432	$0

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details) (USD $)	9 Months Ended
	Dec. 28, 2013
Effective Income Tax Rate Reconciliation, Deduction, Extraterritorial Income Exclusion, Amount	$6,300,000
Unrecognized tax benefit	0
Accrued interest and penalties	0
Interest and penalties incurred during period	$0
Open Tax Year Two [Member]	'
Open Tax Year	'2011
Open Tax Year Three [Member]	'
Open Tax Year	'2012
Open Tax Year Four [Member]	'
Open Tax Year	'2013

Income_Taxes_Table_Details

Income Taxes (Table) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Income Taxes [Abstract]	'	'	'	'
Income before income taxes	$52,963	$106,174	$135,437	$167,265
Provision for income taxes	$11,463	$38,312	$39,928	$57,027
Effective tax rate	21.60%	36.10%	29.50%	34.10%

Net_Income_Per_Share_Narrative

Net Income Per Share (Narrative) (Details)	3 Months Ended		9 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Net Income Per Share [Abstract]	'	'	'	'
Weighted average outstanding options excluded from diluted calculation	1,226,000	924,000	1,305,000	309,000

Net_Income_Per_Share_Calculati

Net Income Per Share (Calculation Of Basic And Diluted Earnings Per Share) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Net Income Per Share [Abstract]	'	'	'	'
Net income	$41,500	$67,862	$95,509	$110,238
Weighted average shares outstanding	62,854	65,055	63,170	64,859
Effect of dilutive securities	2,514	3,811	2,724	4,087
Weighted average diluted shares	65,368	68,866	65,894	68,946
Basic earnings per share	$0.66	$1.04	$1.51	$1.70
Diluted earnings per share	$0.63	$0.99	$1.45	$1.60

Legal_Matters_Narrative_Detail

Legal Matters (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Legal Matters [Abstract]	'	'	'	'
Patent infringement settlements, net	$0	$0	($695)	$0

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	0 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended	15 Months Ended
In Millions, except Per Share data, unless otherwise specified	Nov. 20, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012	Mar. 30, 2013	Dec. 28, 2013
Stockholders' Equity [Abstract]	'	'	'	'	'	'	'
Shares of common stock issued for stock option exercises	'	0.8	0.3	1.1	1.4	'	'
Stock Repurchase Program, Authorized Amount	$200	'	'	'	'	'	'
Stock Repurchased and Retired During Period, Shares	'	1.5	'	2.1	'	3	'
Stock Repurchased and Retired During Period, Value	'	29.7	'	42.4	'	85.6	128
Stock Repurchased and Retired During Period, Average Cost	'	$19.37	'	$19.85	'	'	'
Stock Repurchase Program, Remaining Authorized Repurchase Amount	'	'	'	$72	'	'	'

Segment_Information_Schedule_O

Segment Information (Schedule Of Segment Revenue From Product Lines) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Segment Reporting Information [Line Items]	'	'	'	'
Product revenue, net	$218,883	$310,133	$564,679	$602,913
Audio Products [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Product revenue, net	206,388	300,010	529,966	558,671
Energy Products [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Product revenue, net	$12,495	$10,123	$34,713	$44,242