Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Dec. 05, 2014 | Mar. 31, 2014 |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'INTEGRATED SILICON SOLUTION INC | ' | ' |
Entity Central Index Key | '0000854701 | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 31,199,190 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $271.50 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' |
Net sales | $328,977 | $307,570 | $265,950 |
Cost of sales | 216,721 | 206,109 | 182,966 |
Gross profit | 112,256 | 101,461 | 82,984 |
Operating expenses | ' | ' | ' |
Research and development | 45,243 | 40,839 | 30,918 |
Selling, general and administrative | 46,295 | 43,964 | 42,174 |
Impairment of goodwill | 0 | 0 | 4,261 |
Total operating expenses | 91,538 | 84,803 | 77,353 |
Operating income | 20,718 | 16,658 | 5,631 |
Interest and other income (expense), net | 1,236 | 1,247 | -1,656 |
Interest expense | -127 | -101 | -68 |
Gain on sales of investments | 11,300 | 12,217 | 0 |
Income before income taxes | 33,127 | 30,021 | 3,907 |
Provision for income taxes | 9,638 | 12,277 | 6,512 |
Consolidated net income (loss) | 23,489 | 17,744 | -2,605 |
Less net income attributable to noncontrolling interests | -224 | -196 | -113 |
Net income (loss) attributable to ISSI | $23,265 | $17,548 | ($2,718) |
Basic net income (loss) per share | $0.77 | $0.62 | ($0.10) |
Shares used in basic per share calculation | 30,037 | 28,223 | 27,120 |
Diluted net income (loss) per share (in dollars per share) | $0.74 | $0.59 | ($0.10) |
Shares used in diluted per share calculation | 31,623 | 29,694 | 27,120 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Consolidated net income (loss) | $23,489 | $17,744 | ($2,605) |
Change in unrealized gain (loss) on investments: | ' | ' | ' |
Changes arising during current year, net of tax benefit (expense) of $251, $(7,975) and $312 for fiscal 2014, 2013 and 2012, respectively | -349 | 13,755 | -1,523 |
Reclassification for (gain) loss included in net income (loss), net of tax expense (benefit) of $3,589, $3,823 and $(716) for fiscal 2014, 2013 and 2012, respectively | -6,029 | -5,854 | 1,213 |
Net change | -6,378 | 7,901 | -310 |
Change in cumulative translation adjustment: | ' | ' | ' |
Changes arising during current year | -3,736 | -1,261 | 3,932 |
Translation adjustment, net change | -3,736 | -1,261 | 3,932 |
Change in retirement plan transition obligation: | ' | ' | ' |
Changes arising during current year, net of tax benefit (expense) of $3, $(44) and $(119) for fiscal 2014, 2013 and 2012, respectively | -1 | -23 | -134 |
Reclassification for gain included in net income (loss), net of tax expense (benefit) of $21, $15 and $0 for fiscal 2014, 2013 and 2012 | -38 | -45 | -62 |
Transition obligation, net change | -39 | -68 | -196 |
Change in retirement plan actuarial losses: | ' | ' | ' |
Changes arising during current year, net of tax benefit (expense) of $28, $160 and $323 for fiscal 2014, 2013 and 2012, respectively | -100 | 63 | 127 |
Reclassification for gain included in net income (loss), net of tax expense (benefit) of $(21), $(13) and $0 for fiscal 2014, 2013 and 2012 | 88 | 87 | 98 |
Actuarial Losses, net change | -12 | 150 | 225 |
Other comprehensive income (loss) | -10,165 | 6,722 | 3,651 |
Comprehensive income | 13,324 | 24,466 | 1,046 |
Comprehensive income attributable to noncontrolling interests | -224 | -196 | -113 |
Comprehensive income attributable to ISSI | $13,100 | $24,270 | $933 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income Parenthetical (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Unrealized holding gain (loss) on securities arising during period, tax | $251 | ($7,975) | $312 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 3,589 | 3,823 | -716 |
Pension and Other Postretirement Benefit Plans, for Net Transition (Asset) Obligation, Before Reclassification Adjustment, Tax | 3 | -44 | -119 |
Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Transition (Asset) Obligation, Tax | 21 | 15 | 0 |
Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax | 28 | 160 | 323 |
Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Tax | ($21) | ($13) | $0 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $137,534 | $119,997 |
Restricted cash | 1,000 | 0 |
Short-term investments | 1,477 | 21,558 |
Accounts receivable, net of allowance for doubtful accounts of $21 in 2014 and $372 in 2013 | 50,458 | 46,088 |
Inventories | 85,093 | 68,469 |
Deferred tax assets, net | 1,868 | 2,326 |
Other current assets | 17,033 | 14,602 |
Total current assets | 294,463 | 273,040 |
Property and equipment, net | 58,847 | 46,504 |
Goodwill | 9,178 | 9,178 |
Purchased intangible assets, net | 5,093 | 6,626 |
Deferred tax assets, net | 8,392 | 9,942 |
Other assets | 24,369 | 16,579 |
Total assets | 400,342 | 361,869 |
Current liabilities: | ' | ' |
Accounts payable | 54,554 | 50,229 |
Accrued compensation and benefits | 9,875 | 8,072 |
Accrued expenses | 11,365 | 7,357 |
Current portion of long-term debt | 195 | 195 |
Total current liabilities | 75,989 | 65,853 |
Long-term debt | 4,339 | 4,534 |
Other long-term liabilities | 5,456 | 8,712 |
Total liabilities | 85,784 | 79,099 |
Commitments and contingencies (See Note 16) | ' | ' |
Stockholders’ equity: | ' | ' |
Preferred stock, $0.0001 par value: Authorized shares—5,000 in 2014 and 2013. Issued and outstanding shares—0 in 2014 and none in 2013. | 0 | 0 |
Common stock, $0.0001 par value: Authorized shares—70,000 in 2014 and 2013. Issued and outstanding shares—30,832 in 2014 and 29,060 in 2013 | 3 | 3 |
Additional paid-in capital | 364,587 | 343,947 |
Accumulated deficit | -51,076 | -72,498 |
Accumulated other comprehensive income | -1,044 | 9,121 |
Total ISSI stockholders’ equity | 312,470 | 280,573 |
Noncontrolling interest | 2,088 | 2,197 |
Total stockholders’ equity | 314,558 | 282,770 |
Total liabilities and stockholders’ equity | $400,342 | $361,869 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets Parenthetical (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Allowance for doubtful accounts | $21 | $372 |
Preferred stock, par or stated value per share | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par or stated value per share | $0.00 | $0.00 |
Common stock, shares authorized | 70,000,000 | 70,000,000 |
Common Stock, shares, issued | 30,832,000 | 29,060,000 |
Common stock, shares, outstanding | 30,832,000 | 29,060,000 |
Consolidated_Statement_of_Stoc
Consolidated Statement of Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Total ISSI Stockholders’ Equity | Non-controlling Interest |
In Thousands, except Share data, unless otherwise specified | |||||||
Total stockholders' equity, balance at Sep. 30, 2011 | $235,246 | $3 | $321,131 | ($87,328) | ($1,252) | $232,554 | $2,692 |
Common stock, shares, balance at Sep. 30, 2011 | ' | 26,448,000 | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income (loss) | -2,605 | ' | ' | -2,718 | ' | -2,718 | 113 |
Other comprehensive income (loss) | 3,651 | ' | ' | ' | 3,651 | 3,651 | ' |
Stock options exercised and shares issued upon vesting of restricted stock units (RSUs), shares | ' | 1,022,000 | ' | ' | ' | ' | ' |
Stock options exercised and shares issued upon vesting of restricted stock units (RSUs) | 4,439 | ' | 4,439 | ' | ' | 4,439 | ' |
Shares issued under stock purchase plan, shares | ' | 181,000 | ' | ' | ' | ' | ' |
Shares issued under stock purchase plan | 1,413 | ' | 1,413 | ' | ' | 1,413 | ' |
Stock-based compensation | 5,031 | ' | 5,031 | ' | ' | 5,031 | ' |
Shares repurchased and retired, shares | ' | -57,000 | ' | ' | ' | ' | ' |
Shares repurchased and retired | -537 | ' | -537 | ' | ' | -537 | ' |
Change in noncontrolling interest in Wintram | 71 | ' | 8 | ' | ' | 8 | 63 |
Noncontrolling interest | -2,370 | ' | -1,012 | ' | ' | -1,012 | -1,358 |
Noncontrolling interest in Chingis | 1,996 | ' | ' | ' | ' | ' | 1,996 |
Total stockholders' equity, balance at Sep. 30, 2012 | 246,335 | 3 | 330,473 | -90,046 | 2,399 | 242,829 | 3,506 |
Common stock, shares, balance at Sep. 30, 2012 | ' | 27,594,000 | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income (loss) | 17,744 | ' | ' | 17,548 | ' | 17,548 | 196 |
Other comprehensive income (loss) | 6,722 | ' | ' | ' | 6,722 | 6,722 | ' |
Stock options exercised and shares issued upon vesting of restricted stock units (RSUs), shares | ' | 1,288,000 | ' | ' | ' | ' | ' |
Stock options exercised and shares issued upon vesting of restricted stock units (RSUs) | 6,264 | ' | 6,264 | ' | ' | 6,264 | ' |
Shares issued under stock purchase plan, shares | ' | 237,000 | ' | ' | ' | ' | ' |
Shares issued under stock purchase plan | 1,915 | ' | 1,915 | ' | ' | 1,915 | ' |
Stock-based compensation | 5,941 | ' | 5,941 | ' | ' | 5,941 | ' |
Tax effects from employee stock incentive plans | 18 | ' | 18 | ' | ' | 18 | ' |
Shares repurchased and retired, shares | ' | -59,000 | ' | ' | ' | ' | ' |
Shares repurchased and retired | -555 | ' | -555 | ' | ' | -555 | ' |
Noncontrolling interest | -1,614 | ' | -109 | ' | ' | -109 | -1,505 |
Total stockholders' equity, balance at Sep. 30, 2013 | 282,770 | 3 | 343,947 | -72,498 | 9,121 | 280,573 | 2,197 |
Common stock, shares, balance at Sep. 30, 2013 | 29,060,000 | 29,060,000 | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income (loss) | 23,489 | ' | ' | 23,265 | ' | 23,265 | 224 |
Other comprehensive income (loss) | -10,165 | ' | ' | ' | -10,165 | -10,165 | ' |
Stock options exercised and shares issued upon vesting of restricted stock units (RSUs), shares | ' | 1,554,000 | ' | ' | ' | ' | ' |
Stock options exercised and shares issued upon vesting of restricted stock units (RSUs) | 10,042 | ' | 10,042 | ' | ' | 10,042 | ' |
Shares issued under stock purchase plan, shares | ' | 249,000 | ' | ' | ' | ' | ' |
Shares issued under stock purchase plan | 2,338 | ' | 2,338 | ' | ' | 2,338 | ' |
Stock-based compensation | 6,092 | ' | 6,092 | ' | ' | 6,092 | ' |
Tax effects from employee stock incentive plans | 2,581 | ' | 2,581 | ' | ' | 2,581 | ' |
Shares repurchased and retired, shares | ' | -31,000 | ' | ' | ' | ' | ' |
Shares repurchased and retired | -358 | ' | -358 | ' | ' | -358 | ' |
Payment of dividends to stockholders | -1,843 | ' | ' | -1,843 | ' | -1,843 | ' |
Noncontrolling interest | -388 | ' | -55 | ' | ' | -55 | -333 |
Total stockholders' equity, balance at Sep. 30, 2014 | $314,558 | $3 | $364,587 | ($51,076) | ($1,044) | $312,470 | $2,088 |
Common stock, shares, balance at Sep. 30, 2014 | 30,832,000 | 30,832,000 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' | ' |
Consolidated net income (loss) | $23,489 | $17,744 | ($2,605) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Stock-based compensation | 6,092 | 5,941 | 5,031 |
Depreciation and amortization | 8,139 | 5,726 | 5,569 |
Excess tax benefits from share-based compensation | -2,581 | -18 | 0 |
Tax benefit associated with employee stock plans | 2,581 | 0 | 0 |
Amortization of intangibles | 1,533 | 1,600 | 1,848 |
Impairment of and write-off of intangibles | 0 | 0 | 8,887 |
Impairment of goodwill | 0 | 0 | 4,261 |
Impairment of assets | 0 | 0 | 1,182 |
Impairment of investment | 0 | 0 | 2,327 |
Gain on sale of investments | -11,300 | -12,217 | 0 |
Equity in net income of affiliate | 248 | 316 | 0 |
Net foreign currency transaction (gains) losses | -436 | -214 | 640 |
Deferred income taxes | 2,239 | 9,287 | 5,016 |
Other non-cash items | -29 | 69 | 108 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accounts receivable, net | -4,578 | 1,478 | -1,290 |
Inventories | -17,739 | -1,454 | -2,735 |
Other assets | -2,550 | 698 | -256 |
Accounts payable | 5,654 | 5,443 | 2,444 |
Accrued expenses and other liabilities | 6,328 | -771 | 1,928 |
Net cash provided by operating activities | 17,090 | 33,628 | 32,355 |
Cash flows from investing activities: | ' | ' | ' |
Acquisition of property and equipment | -21,346 | -23,191 | -6,036 |
Acquisition of noncontrolling interest in consolidated subsidiary | -388 | -1,614 | -2,370 |
Payment of license fees | -8,698 | 0 | 0 |
Payment of holdback related to Si En acquisition | 0 | -4,200 | 0 |
Investment in Nanya Technology Corporation (Nanya) | 0 | 0 | -27,109 |
Investment in joint venture | 0 | 0 | -2,000 |
Purchases of available-for-sale securities | -1,483 | -5,473 | -4,800 |
Sales of available-for-sale securities | 22,539 | 28,969 | 2,697 |
Investment in consolidated subsidiaries, net of cash and cash equivalents acquired | 0 | 0 | -13,210 |
Proceeds from sale of investments | 0 | 4,256 | 0 |
Decrease (increase) in restricted cash | -1,000 | 0 | 6,786 |
Net cash used in investing activities | -10,376 | -1,253 | -46,042 |
Cash flows from financing activities: | ' | ' | ' |
Repurchases and retirements of common stock | -358 | -555 | -537 |
Proceeds from issuance of stock through compensation plans | 12,380 | 8,179 | 5,852 |
Dividends paid | -1,843 | 0 | 0 |
Excess tax benefit from share-based compensation | 2,581 | 18 | 0 |
Proceeds from borrowings | 0 | 4,875 | 0 |
Principal payments of long-term obligations | -195 | -146 | 0 |
Proceeds from borrowings under short-term lines of credit | 0 | 4,069 | 20,809 |
Principal payments of short-term lines of credit | 0 | -4,069 | -20,809 |
Net cash provided by financing activities | 12,565 | 12,371 | 5,315 |
Effect of exchange rate changes on cash and cash equivalents | -1,742 | -246 | 6 |
Net increase (decrease) in cash and cash equivalents | 17,537 | 44,500 | -8,366 |
Cash and cash equivalents at beginning of year | 119,997 | 75,497 | 83,863 |
Cash and cash equivalents at end of year | 137,534 | 119,997 | 75,497 |
Supplemental disclosures of cash flow information: | ' | ' | ' |
Cash paid for income taxes, net of refunds | 2,507 | 1,826 | 875 |
Cash paid for interest expense | $62 | $48 | $25 |
Organization_and_Significant_A
Organization and Significant Accounting Policies | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||
Organization and Significant Accounting Policies | ' | |||||||||||||||
Organization and Significant Accounting Policies | ||||||||||||||||
Organization | ||||||||||||||||
Integrated Silicon Solution, Inc. (the “Company”) was incorporated in California on October 27, 1988 and reincorporated in Delaware on August 9, 1993. The Company is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) automotive, (ii) communications, (iii) industrial, medical and military, and (iv) digital consumer. The Company’s primary products are DRAM in both package and Known Good Die (KGD) form and high speed and low power SRAM, serial and parallel NOR flash products and a variety of mixed signal and analog products. | ||||||||||||||||
On September 14, 2012, the Company acquired Chingis Technology Corporation (Chingis) and the Company’s financial results reflect accounting for Chingis on a consolidated basis from the date of acquisition (See Note 18). | ||||||||||||||||
Basis of Presentation | ||||||||||||||||
The accompanying consolidated financial statements include the accounts of Integrated Silicon Solution, Inc. and its majority owned subsidiaries, after elimination of all significant intercompany accounts and transactions. | ||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||
The Company considers all highly liquid investments with an original maturity of 90 days or less at the date of purchase to be cash equivalents. Cash and cash equivalents are maintained at various financial institutions. | ||||||||||||||||
Investments | ||||||||||||||||
Debt securities and marketable equity securities are classified as “available-for-sale”. Available-for-sale securities are recorded at fair value with unrealized gains and losses included in accumulated other comprehensive income (loss). Realized gains and losses and declines in value judged to be other-than-temporary on available-for-sale securities are included in interest and other income, net. The cost of fixed income securities sold is based on the specific identification method and the weighted-average method is used to determine the cost basis of publicly traded equity securities disposed of. Interest and dividends on securities classified as available-for-sale are included in interest and other income, net. | ||||||||||||||||
The Company accounts for non-marketable equity and other equity investments for which it does not have control over the investee as equity method investments when the Company has the ability to exercise significant influence, but not control, over the investee. The Company accounts for non-marketable equity and other equity investments as non-marketable cost method investments when the equity method does not apply. The Company's non-marketable equity and other equity investments are included in other assets in its consolidated balance sheet. | ||||||||||||||||
The Company regularly reviews its investments to determine whether a decline in fair value below the cost basis is other than temporary. If the decline in fair value is determined to be other than temporary, the cost basis of the investment is written down to fair value, and the amount of the write-down is included in the consolidated statements of operations. | ||||||||||||||||
Inventories | ||||||||||||||||
Inventories are stated at the lower of cost (first-in, first-out) or market. The Company’s inventory valuation process is done on a part-by-part basis. Lower of cost or market adjustments, specifically identified on a part-by-part basis, reduce the carrying value of the related inventory and take into consideration reductions in sales prices. Determining the market value of inventories on hand and at distributors as of the balance sheet date involves numerous judgments, including projecting average selling prices and sales volumes for future periods and costs to complete products in work in process inventories. When market values are below the Company’s costs, the Company records a charge to cost of goods sold to write down inventories to estimated market value in advance of when the inventories are actually sold. If actual market conditions are less favorable than those projected by management, additional inventory write-downs may be required that may adversely affect the Company’s operating results. If actual market conditions are more favorable, the Company may have higher gross margins when such products are sold. The Company writes down to zero dollars the carrying value of inventory on hand that has aged over one year (two years for wafer and die bank) to cover estimated excess and obsolete exposures, unless adjustments are made based on management’s judgments for newer products, end of life products, planned inventory increases or strategic customer supply. Once established, these write-downs are considered permanent. | ||||||||||||||||
Property and Equipment | ||||||||||||||||
Property and equipment are stated at cost. Depreciation and amortization are computed using the straight-line method, based upon the shorter of the estimated useful lives ranging from two to ten years for property and equipment and from 30 to 50 years for buildings or the lease term for improvements to leased properties. | ||||||||||||||||
Goodwill and Purchased Intangible Assets | ||||||||||||||||
The Company tests goodwill and other indefinite-lived intangible assets for impairment on an annual basis and between annual tests if events or circumstances require an interim impairment assessment. For goodwill, the Company either makes a qualitative assessment prior to proceeding to step one of the annual goodwill impairment test or performs a two-step impairment test. If the Company makes a qualitative assessment and it determines that the fair value of the reporting unit is less than its carrying amount, the Company would perform step one of the annual goodwill impairment test and, if necessary, proceed to step two. Otherwise, no further evaluation is necessary. For the two-step impairment test, in the first step, the Company compares the fair value of the reporting unit to its carrying value, including goodwill. The Company determines the fair value of the reporting unit based on a weighting of income and market approaches. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired and no further testing is performed. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, then the Company performs the second step of the impairment test to determine the implied fair value of the reporting unit’s goodwill. If the carrying value of a reporting unit’s goodwill exceeds its implied fair value, the Company records an impairment loss equal to the difference. | ||||||||||||||||
Purchased intangible assets other than goodwill are amortized over their useful lives unless these lives are determined to be indefinite. Purchased intangible assets with definite lives are carried at cost less accumulated amortization. Amortization is computed over the estimated useful lives of the respective assets, generally six months to eight years. | ||||||||||||||||
The Company may acquire in-process research and development (IPR&D) projects as the result of business combinations. The fair values of the acquired IPR&D projects are determined through estimates and valuation techniques based on the terms and details of the related acquisitions. Upon completion of development for each project, the acquired IPR&D will be amortized over its useful life. The Company assesses the status of each IPR&D project quarterly to evaluate whether the carrying value has been impaired. | ||||||||||||||||
Valuation of Long-Lived Assets and Certain Identifiable Intangibles | ||||||||||||||||
The Company evaluates the recoverability of property, plant and equipment and identifiable intangible assets through the performance of periodic reviews to determine whether facts and circumstances exist that would indicate that the carrying amounts of property, plant and equipment and identifiable intangible assets exceed their fair values. If facts and circumstances indicate that the carrying amount of property, plant and equipment and identifiable intangible assets might not be fully recoverable, projected undiscounted net cash flows associated with the related asset or group of assets over their estimated remaining useful life is compared to their respective carrying amounts. In the event that the projected undiscounted cash flows are not sufficient to recover the carrying value of the assets, the assets are written down to their estimated fair values based on the expected discounted future cash flows attributable to the assets. | ||||||||||||||||
Revenue Recognition and Accounts Receivable Allowances | ||||||||||||||||
Revenue from product sales (net of any applicable value added tax) to the Company’s direct customers is recognized upon shipment provided that persuasive evidence of a sales arrangement exists, the price is fixed or determinable, title has transferred, collection of resulting receivables is reasonably assured, there are no customer acceptance requirements and there are no remaining significant obligations. The Company makes estimates of potential future product returns and sales allowances related to current period product revenue. Management analyzes historical returns, changes in customer demand, and acceptance of products when evaluating the adequacy of sales returns and allowances. Estimates made by the Company may differ from actual product returns and sales allowances. These differences may materially impact reported revenue and amounts ultimately collected on accounts receivable. | ||||||||||||||||
A portion of the Company’s sales is made to distributors under agreements that provide the possibility of certain price adjustment credits, as discussed below, and to return qualifying products for credit, as determined by the Company, in order to reduce the amounts of slow-moving, discontinued or obsolete product from their inventory. These agreements limit such returns to a certain percentage of the value of the Company's shipments to that distributor during the prior quarter. In addition, distributors are allowed to return unsold products if the Company terminates the relationship with the distributor. | ||||||||||||||||
Certain distributors are granted price adjustment credits related to many of their sales to their customers. Price adjustment credits are granted when a distributor’s standard cost (i.e., the Company’s sales price to the distributor) does not provide the distributor with an appropriate margin on its sales to its customers. As a result, the distributor may request and receive a price adjustment credit from the Company to allow the distributor to earn an appropriate margin on the transaction. Certain distributors are also granted price adjustment credits in the event of a price decrease subsequent to the date the product was shipped and billed to the distributor. Generally, the Company will provide a credit equal to the difference between the price paid by the distributor (less any prior credits on such products) and the new price for the product multiplied by the quantity of such product in the distributor’s inventory at the time of the price decrease. Certain of the Company’s distributor arrangements may allow or require the granting of price concessions below the Company’s cost for a product. | ||||||||||||||||
Given the uncertainties associated with the levels of returns and other price adjustment credits that will be issued to these distributors, the sales price to distributors is not fixed or determinable until the distributors resell the products to their customers. Therefore, the Company defers revenue recognition from sales to these distributors until the distributors have sold the products to their end customers. | ||||||||||||||||
Title to the inventory transfers to a distributor at the time of shipment or delivery to the distributor, and payment from the distributor is due in accordance with the Company's standard payment terms. These payment terms are not contingent upon the distributors’ sale of the products to their customers. Upon title transfer to distributors, inventory is reduced for the cost of goods shipped, the deferred distributor margin (sales less cost of sales) is recorded as a liability and an account receivable is recorded. | ||||||||||||||||
The deferred costs of sales to distributors may be subject to impairment. The Company monitors the level and nature of product returns from distributors as well as the levels of inventory held at distributors. On a quarterly basis, the Company reviews the inventory held at distributors in terms of the Company’s inventory valuation policy and records a charge to cost of goods sold for all known lower of cost or market and excess and obsolescence issues. | ||||||||||||||||
In addition, the Company monitors collectibility of accounts receivable primarily through review of its accounts receivable aging. When facts and circumstances indicate the collection of specific amounts or from specific customers is at risk, the Company assesses the impact on amounts recorded for bad debts and, if necessary, will record a charge in the period such determination is made. | ||||||||||||||||
The following table sets forth activity in accounts receivable allowance for doubtful accounts for the years ended September 30, 2014, 2013 and 2012. | ||||||||||||||||
Description | Balance at | Adjustments to | Deductions(2) | Balance | ||||||||||||
Beginning | Costs and | at End | ||||||||||||||
of Year | Expenses(1) | of Year | ||||||||||||||
(in thousands) | ||||||||||||||||
Accounts receivable—Allowance for doubtful accounts: | ||||||||||||||||
2012 | $ | 496 | $ | (2 | ) | $ | 14 | $ | 508 | |||||||
2013 | $ | 508 | $ | 19 | $ | (155 | ) | $ | 372 | |||||||
2014 | $ | 372 | $ | (79 | ) | $ | (272 | ) | $ | 21 | ||||||
________________________ | ||||||||||||||||
-1 | Includes increases/(decreases) charged or credited to costs and expenses. | |||||||||||||||
-2 | Uncollectible accounts written off, net of recoveries. | |||||||||||||||
Research and Development | ||||||||||||||||
Research and development expenditures are charged to operations as incurred. | ||||||||||||||||
Foreign Currency Translation | ||||||||||||||||
The Company uses the local currency as its functional currency for all foreign subsidiaries. Translation adjustments, which result from the process of translating foreign currency financial statements into U.S. dollars, are included in the accumulated other comprehensive income component of stockholders’ equity. | ||||||||||||||||
Advertising Costs | ||||||||||||||||
The Company expenses advertising costs as incurred and includes these costs in selling, general and administrative expenses in the consolidated statement of operations. Advertising costs totaled $84,000, $79,000 and $59,000 for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. | ||||||||||||||||
Income Taxes | ||||||||||||||||
The Company accounts for income taxes under an asset and liability approach. Deferred income taxes reflect the impact of temporary differences between assets and liabilities recognized for financial reporting purposes and such amounts recognized for income tax reporting purposes. Valuation allowances are provided when necessary to reduce deferred tax assets to an amount that is more likely than not to be realized. Uncertain tax positions are recognized or derecognized based on the threshold and measurement of a tax position taken or expected to be taken in a tax return. U.S. income tax has not been provided on earnings of foreign subsidiaries to the extent that such earnings are considered to be indefinitely reinvested. | ||||||||||||||||
Stock-Based Compensation | ||||||||||||||||
Stock-based compensation is measured at the grant date, based on the estimated fair value of the award. The Company amortizes the compensation costs on a straight-line basis over the requisite service period of the award, which is generally the award vesting term of four years. The Company estimates the fair value of stock options and stock appreciation rights (SARs) using the Black-Scholes valuation model. The Black-Scholes valuation model requires the Company to estimate key assumptions such as expected term, volatility, risk free interest rates and dividend yield to determine the fair value of an award. The estimates of these key assumptions are based on historical information and judgment regarding market factors and trends. The fair value of the SARs are revalued on a quarterly basis and upon the exercise of a SAR, the expense recognized is adjusted to reflect the difference between the exercise price of the SAR and the closing market price of the Company's common stock on the date of exercise. | ||||||||||||||||
Use of Estimates | ||||||||||||||||
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Such estimates relate to the useful lives and residual value of fixed assets, the fair value of investments, allowances for doubtful accounts and customer returns, valuation allowances for deferred tax assets, inventory write-downs, potential reserves relating to litigation matters, accrued liabilities, and other reserves. The Company bases its estimates and judgments on its historical experience, knowledge of current conditions and its beliefs of what could occur in the future, given available information. Actual results may differ from those estimates, and such difference, may be material to the financial statements. | ||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||
The Company’s financial instruments consist primarily of cash and cash equivalents, marketable securities, accounts receivable, accounts payable and bank loans. The Company believes that the carrying amounts of the financial instruments approximate their respective fair values. When there is no readily available market data, the Company may make fair value estimates, which may not necessarily represent the amounts that will be realized in a current or future sale of these assets. | ||||||||||||||||
Concentration of Credit Risk | ||||||||||||||||
The Company operates in one business segment, which is to design, develop, and market high performance DRAM, SRAM, and other semiconductor products. The Company markets and distributes its products on a worldwide basis, primarily to original equipment manufacturers, contract manufacturers, and distributors. The Company performs ongoing credit evaluations of its customers’ financial condition and generally requires no collateral. In fiscal 2014, revenue from the Company’s largest and second largest distributor accounted for approximately 17% and 13%, respectively, of the Company's total net sales. In fiscal 2013, revenue from the Company’s largest and second largest distributor accounted for approximately 17% and 11%, respectively, of the Company's total net sales. In fiscal 2012, revenue from the Company’s largest and second largest distributor, accounted for approximately 14% and 13% of the Company's total net sales. | ||||||||||||||||
The Company maintains cash, cash equivalents, and short-term investments with various high credit quality financial institutions. The Company’s investment policy is designed to limit exposure to any one institution. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in its investment strategy. The Company is exposed to credit risk in the event of default by the financial institutions or issuers of investments to the extent of the amount recorded on the balance sheet. To date, the Company has not incurred losses related to these investments. | ||||||||||||||||
Product Warranty and Indemnifications | ||||||||||||||||
The Company generally warrants its products against defects in materials and workmanship for a period of 12 months. Liability for a stated warranty period is usually limited to replacement of defective items or return of amounts paid. If there is a material increase in the rate of customer claims or the Company’s estimates of probable losses relating to specifically identified warranty exposures are inaccurate, the Company may record a charge against future cost of sales. Warranty expense has historically been immaterial to the Company’s financial statements. | ||||||||||||||||
The Company may be obligated to indemnify certain customers, distributors, suppliers, and subcontractors for attorney fees and damages and costs awarded against these parties in certain circumstances in which its products are alleged to infringe third party intellectual property rights, including patents, registered trademarks, or copyrights. The terms of the Company’s indemnification obligations are generally perpetual from the effective date of the agreement. In certain cases, there are limits on and exceptions to the Company’s potential liability for indemnification relating to intellectual property infringement claims. In addition, the Company has entered into indemnification agreements with its officers and directors, and the Company’s bylaws provide that indemnification may be provided to the Company’s agents. The Company has directors’ and officers’ insurance pursuant to which the Company may be reimbursed for certain indemnity expenses, subject to the insurers’ reservation of rights. The Company cannot estimate the amount of potential future indemnity expenses that it may be required to make. The amount of available directors’ and officers’ insurance may not be sufficient to cover the Company’s indemnity obligations, which may have a material adverse effect on the Company’s results of operations in future periods. | ||||||||||||||||
Net Income (Loss) Per Share | ||||||||||||||||
Basic and diluted net loss per share and basic net income per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted average number of common and dilutive common equivalent shares outstanding, if applicable, during the period. Common equivalent shares consist of the shares issuable upon the assumed exercise of stock options and awards under the treasury stock method. | ||||||||||||||||
Accounting Pronouncements | ||||||||||||||||
The following issued accounting pronouncements are not yet effective for the Company as of September 30, 2014. | ||||||||||||||||
Liabilities | ||||||||||||||||
In February 2013, the Financial Accounting Standards Board (FASB) issued guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of the guidance is fixed at the reporting date. Examples of obligations include debt arrangements, other contractual obligations, and settled litigation and judicial rulings. The guidance requires an entity to measure such obligations as the sum of the amount that the reporting entity agreed to pay on the basis of its arrangement among its co-obligors in addition to amounts the reporting entity expects to pay on behalf of its co-obligors. The guidance becomes effective for the Company beginning in the first quarter of fiscal 2015 and is not expected to have a material impact on the Company's consolidated financial statements. | ||||||||||||||||
Foreign Currency Matters | ||||||||||||||||
In March 2013, FASB issued guidance on when foreign currency translation adjustments should be released to net income. When a parent entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity, the parent is required to release any related cumulative translation adjustment into net income. Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. The guidance becomes effective for the Company beginning in the first quarter of fiscal 2015 and is not expected to have a material impact on the Company's consolidated financial statements. | ||||||||||||||||
Revenue from Contracts with Customers | ||||||||||||||||
In May 2014, FASB amended the existing accounting standards for revenue recognition. The new guidance establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. The guidance becomes effective for the Company beginning in the first quarter of fiscal 2018. Early adoption is not permitted. The new revenue recognition standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company has not yet selected a transition method nor has the Company determined the impact of adopting the new revenue recognition standard on its consolidated financial statements. | ||||||||||||||||
Reclassifications | ||||||||||||||||
Certain reclassifications have been made to prior year balances in order to conform to the current year’s presentation. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
Under FASB guidance, fair value is defined as the price expected to be received from the sale of an asset or paid to transfer a liability in a transaction between market participants at the measurement date. In determining fair value, the Company may use various valuation approaches, including quoted market prices and discounted cash flows. The FASB guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that the market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect a company’s judgment concerning the assumptions that market participants would use in pricing the asset or liability developed based on the best information available at that time. The fair value hierarchy is broken down into the following three levels based on the reliability of inputs: | ||||||||||||||||
• | Level 1 – Valuations based on quoted prices in active markets for identical instruments that the Company is able to access. Since valuations are based on quoted prices which are readily and regularly available in an active market, valuation of these products can be done without a significant degree of judgment. | |||||||||||||||
• | Level 2 – Valuations based on quoted prices in active markets for instruments that are similar, or quoted prices in markets that are not active for identical or similar instruments and model-derived valuations in which all significant inputs and significant value drives are observable in active markets. | |||||||||||||||
• | Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions. | |||||||||||||||
As of September 30, 2014, all of the Company’s financial assets utilize Level 1 inputs. The Company did not have any financial assets utilizing Level 2 or Level 3 inputs at September 30, 2014 and September 30, 2013. | ||||||||||||||||
The following tables represent the Company’s fair value hierarchy for financial assets measured at fair value on a recurring basis: | ||||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | |||||||||||||||
(Level 1) | (Level 1) | |||||||||||||||
(In thousands) | ||||||||||||||||
Money market instruments (1) | $ | 22,519 | $ | 19,318 | ||||||||||||
Semiconductor Manufacturing International Corp. | ||||||||||||||||
(SMIC) common stock (2) | — | 1,793 | ||||||||||||||
Nanya Technology Corporation (Nanya) common stock (2) | — | 16,624 | ||||||||||||||
$ | 22,519 | $ | 37,735 | |||||||||||||
-1 | Included in cash and cash equivalents | |||||||||||||||
-2 | Included in short-term investments | |||||||||||||||
There were no transfers in or out of the Company's Level 1 assets during the twelve months ending September 30, 2014 and September 30, 2013. | ||||||||||||||||
As of September 30, 2014, the Company did not have any liabilities or non-financial assets that are measured on a fair value basis on a recurring basis. | ||||||||||||||||
Available-for-sale marketable securities consisted of the following: | ||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Holding | Holding | |||||||||||||||
Gains | Losses | |||||||||||||||
(in thousands) | ||||||||||||||||
September 30, 2014 | ||||||||||||||||
Money market instruments | $ | 22,519 | $ | — | $ | — | $ | 22,519 | ||||||||
Certificates of deposit | 20,679 | — | — | 20,679 | ||||||||||||
Total | 43,198 | — | — | 43,198 | ||||||||||||
Less: Amounts included in cash, cash | ||||||||||||||||
equivalents and restricted cash | (41,721 | ) | — | — | (41,721 | ) | ||||||||||
$ | 1,477 | $ | — | $ | — | $ | 1,477 | |||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Holding | Holding | |||||||||||||||
Gains | Losses | |||||||||||||||
(in thousands) | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Money market instruments | $ | 19,318 | $ | — | $ | — | $ | 19,318 | ||||||||
Certificates of deposit | 15,595 | — | — | 15,595 | ||||||||||||
SMIC common stock | 1,099 | 694 | — | 1,793 | ||||||||||||
Nanya common stock | 7,100 | 9,524 | — | 16,624 | ||||||||||||
Total | 43,112 | 10,218 | — | 53,330 | ||||||||||||
Less: Amounts included in cash and cash | ||||||||||||||||
equivalents | (31,772 | ) | — | — | (31,772 | ) | ||||||||||
$ | 11,340 | $ | 10,218 | $ | — | $ | 21,558 | |||||||||
In September 2012, the Company invested approximately $27.1 million in Nanya, which was comprised of common shares which are classified as available-for-sale securities and private placement shares which are accounted for on the cost-basis. The Company uses the weighted-average cost method to determine the cost basis of its shares of Nanya. During fiscal 2014, the Company sold all of its approximately 11.0 million remaining shares of freely-tradeable Nanya common stock for approximately $16.2 million which resulted in a pre-tax gain of approximately $9.2 million. During fiscal 2013, the Company sold approximately 14.4 million shares of Nanya common stock for approximately $21.2 million which resulted in a pre-tax gain of approximately $12.0 million. See Note 4 for further information regarding the Company's Nanya share ownership. | ||||||||||||||||
During fiscal 2014, the Company sold all of its approximately 29.9 million remaining shares of SMIC common stock for approximately $3.2 million which resulted in a pre-tax gain of approximately $2.1 million. During the fourth quarter of fiscal 2012, the Company recorded a $2.3 million charge to write-down its investment in SMIC due to the decline in fair market value being considered other than temporary. | ||||||||||||||||
The Company held no debt securities at September 30, 2014 and September 30, 2013. As of September 30, 2014 and September 30, 2013, the Company had cash, cash equivalents and short-term investments of $71.9 million ($3.0 million of which is in China and subject to exchange control regulations) and $71.2 million, respectively, in foreign institutions. |
Inventories
Inventories | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventories | ' | |||||||
Inventories | ||||||||
Inventories consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Purchased components | $ | 21,677 | $ | 14,039 | ||||
Work-in-process | 27,058 | 20,960 | ||||||
Finished goods | 36,358 | 33,470 | ||||||
$ | 85,093 | $ | 68,469 | |||||
In fiscal 2014, 2013 and 2012, the Company recorded inventory write-downs of $5.6 million, $4.6 million and $5.7 million, respectively. The inventory write-downs were predominately for excess and obsolescence and lower of cost or market issues on certain of its products. |
Other_Assets
Other Assets | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Other Assets [Abstract] | ' | |||||||
Other Assets | ' | |||||||
Other Assets | ||||||||
Other assets consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Restricted assets | $ | 499 | $ | 811 | ||||
Other investment | 1,436 | 1,684 | ||||||
Nanya private placement shares | 10,645 | 10,920 | ||||||
Technology licenses, net | 10,644 | 2,002 | ||||||
Other | 1,145 | 1,162 | ||||||
$ | 24,369 | $ | 16,579 | |||||
The Company has various deposits including deposits with suppliers for purchase guarantees and for customs clearance. These deposits are included in restricted assets. | ||||||||
From time-to-time, the Company licenses patents or other intellectual property rights from third parties. The technology licenses are being amortized over their estimated useful lives ranging from three to ten years. | ||||||||
In September 2012, the Company invested approximately $27.1 million in Nanya, which was comprised of common shares which were classified as available-for-sale securities and private placement shares which were accounted for on the cost-basis. The Company accounts for the private placement shares it acquired in Nanya on the cost-basis as these securities are restricted and the restrictions do not terminate within one year of the reporting date. | ||||||||
In March 2012, the Company made an equity investment of $2.0 million in a private technology company headquartered in Hong Kong. At September 30, 2014, the Company's ownership interest in this company was approximately 31%. This investment is accounted for under the equity method and the Company's results include its percentage share of such company's results of operations in interest and other income (expense), net. | ||||||||
In fiscal 2013, the Company sold its remaining investment in Giantec for approximately $4.3 million which resulted in a pre-tax gain of approximately $0.2 million. |
Property_and_Equipment_net
Property and Equipment, net | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property and Equipment, net | ' | |||||||
Property and Equipment, net | ||||||||
Property and equipment, net consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Machinery and equipment | $ | 66,629 | $ | 56,144 | ||||
Furniture and fixtures | 3,708 | 3,717 | ||||||
Land, buildings and improvements | 48,891 | 40,665 | ||||||
119,228 | 100,526 | |||||||
Less accumulated depreciation and amortization | (60,381 | ) | (54,022 | ) | ||||
$ | 58,847 | $ | 46,504 | |||||
During the fourth quarter of fiscal 2012, the Company recorded a $1.2 million impairment charge, which was included in operating expenses, to write-down certain assets to their estimated fair value. | ||||||||
The Company rents certain floors in its office building in Hsinchu, Taiwan to third parties. These leases are cancelable with two months to four months notice. The value of the assets leased to others is included in property and equipment, net in the Company’s balance sheet. Rental income and the depreciation of the assets are included in other income (expense), net. Rental income was approximately $1.0 million, $1.2 million and $1.3 million, in fiscal 2014, fiscal 2013 and fiscal 2012, respectively. Depreciation of the assets was approximately $0.1 million in each of fiscal 2014, fiscal 2013 and fiscal 2012. | ||||||||
The assets leased consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Buildings and improvements | $ | 7,406 | $ | 9,441 | ||||
Less accumulated depreciation | (4,623 | ) | (5,650 | ) | ||||
$ | 2,783 | $ | 3,791 | |||||
Purchased_Intangible_Assets_an
Purchased Intangible Assets and Goodwill | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Purchased Intangible Assets and Goodwill | ' | |||||||||||
Purchased Intangible Assets and Goodwill | ||||||||||||
No additions to purchased intangible assets were recorded during fiscal 2014 or fiscal 2013. In fiscal 2012, in connection with its acquisition of Chingis, the Company recorded $7.9 million of intangible assets (See Note 18). | ||||||||||||
During the fourth quarter of fiscal 2012, in connection with the Company's annual goodwill impairment test, the Company determined that the intangible assets acquired in the acquisition of Si En were impaired. The analysis indicated that there was no value attributable to the intangible assets and accordingly, the Company recorded an impairment charge of $8.9 million of which $5.4 million was included in cost of sales and $3.5 million was included in operating expenses. | ||||||||||||
The following tables present details of the Company’s total purchased intangible assets: | ||||||||||||
Gross | Accumulated | Net | ||||||||||
Amortization | ||||||||||||
(in thousands) | ||||||||||||
September 30, 2014 | ||||||||||||
Developed technology | $ | 5,330 | $ | 2,584 | $ | 2,746 | ||||||
Customer relationships | 3,340 | 1,137 | 2,203 | |||||||||
Other | 450 | 306 | 144 | |||||||||
Total | $ | 9,120 | $ | 4,027 | $ | 5,093 | ||||||
September 30, 2013 | ||||||||||||
Developed technology | $ | 5,330 | $ | 1,758 | $ | 3,572 | ||||||
Customer relationships | 3,340 | 580 | 2,760 | |||||||||
Other | 450 | 156 | 294 | |||||||||
Total | $ | 9,120 | $ | 2,494 | $ | 6,626 | ||||||
The following table presents details of the amortization expense of purchased intangible assets as reported in the Consolidated Statements of Operations: | ||||||||||||
Years Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Reported as: | ||||||||||||
Cost of sales | $ | 826 | $ | 879 | $ | 984 | ||||||
Operating expenses | 707 | 721 | 864 | |||||||||
Total | $ | 1,533 | $ | 1,600 | $ | 1,848 | ||||||
The following table presents the estimated future amortization expense of the Company’s purchased intangible assets at September 30, 2014 (in thousands). The weighted-average remaining amortization period for developed technology, customer relationships and other intangibles is 4.04 years, 3.96 years and 0.96 years, respectively. If the Company acquires additional purchased intangible assets in the future, its future amortization may be increased by those assets. | ||||||||||||
Fiscal year | ||||||||||||
2015 | $ | 1,382 | ||||||||||
2016 | 1,238 | |||||||||||
2017 | 1,239 | |||||||||||
2018 | 1,195 | |||||||||||
2019 | 39 | |||||||||||
Thereafter | — | |||||||||||
Total | $ | 5,093 | ||||||||||
Goodwill | ||||||||||||
The following table provides details regarding the changes in the Company's goodwill: | ||||||||||||
(in thousands) | ||||||||||||
Balance at September 30, 2011 | $ | 9,463 | ||||||||||
Addition arising from acquisition of Chingis | 3,976 | |||||||||||
Impairment | (4,261 | ) | ||||||||||
Balance at September 30, 2012 | 9,178 | |||||||||||
Impairment | — | |||||||||||
Balance at September 30, 2013 | 9,178 | |||||||||||
Impairment | — | |||||||||||
Balance at September 30, 2014 | $ | 9,178 | ||||||||||
During the fourth quarter of fiscal 2012, the Company completed the first step of its annual goodwill impairment test, which included examining the impact of current general economic conditions on its future prospects and the current level of its market capitalization. Based on this analysis, the Company concluded that goodwill related to its analog reporting unit was impaired. The Company's analog reporting unit's goodwill was originally recorded in connection with its acquisition of Si En. Therefore, the Company performed the second step of the impairment test to determine the implied fair value of goodwill. Specifically, the Company hypothetically allocated the estimated fair value of the analog reporting unit's equity as determined in the first step to recognized and unrecognized net assets, including allocations to intangible assets. The analysis indicated that there would be approximately $3.9 million remaining implied value attributable to goodwill and accordingly, the Company wrote off $4.3 million of its goodwill. |
Borrowings
Borrowings | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Debt Disclosure [Abstract] | ' | |||
Borrowings | ' | |||
Borrowings | ||||
At September 30, 2014, the Company had short-term lines of credit with various financial institutions in Taiwan whereby it could borrow in aggregate up to approximately $19.8 million denominated in a combination of U.S. and New Taiwan dollars. As of September 30, 2014 and September 30, 2013, the Company had no borrowings outstanding under these lines of credit. These lines of credit expire at various times through October 2015. There were no assets pledged as collateral for short-term debt or notes. Commitment fees relating to these lines are not material. | ||||
In December 2012, the Company obtained a bank loan in the amount of $4.9 million (the “Loan”), to partially finance the $6.5 million purchase price of approximately 2.85 acres of land and a 55,612 square foot building located at 1623 Buckeye Drive, Milpitas, California for its corporate headquarters. The Loan has a maturity date of November 30, 2017 and is secured by the property and an assignment of all leases and rents relating to the property. The Loan is subject to customary events of default, including defaults in the payment of principal and interest. The Loan bears an interest rate of one percent above LIBOR adjusted on a monthly basis. The interest rate on the Loan was 1.25% at September 30, 2014. Principal payments due under the Loan are as follows (in thousands): | ||||
Fiscal year | ||||
2015 | $ | 195 | ||
2016 | 195 | |||
2017 | 195 | |||
2018 | 3,949 | |||
2019 | — | |||
Thereafter | — | |||
Total | $ | 4,534 | ||
Accrued_Expenses
Accrued Expenses | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
Accrued Expenses | ' | |||||||
Accrued Expenses | ||||||||
Accrued expenses consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Deferred distributor margin | $ | 3,607 | $ | 2,301 | ||||
Income taxes payable | 4,549 | 2,690 | ||||||
Other | 3,209 | 2,366 | ||||||
$ | 11,365 | $ | 7,357 | |||||
Other_Longterm_Liabilities
Other Long-term Liabilities | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Other Long-term Liabilities | ' | |||||||
Other Long-term Liabilities | ||||||||
Other long-term liabilities consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Pension liability | $ | 4,076 | $ | 3,790 | ||||
Non-current deferred tax liabilities | 866 | 4,479 | ||||||
Other | 514 | 443 | ||||||
$ | 5,456 | $ | 8,712 | |||||
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Equity [Abstract] | ' | |||||||
Stockholders' Equity | ' | |||||||
Stockholders' Equity | ||||||||
The Company’s Restated Certificate of Incorporation provides for 70,000,000 authorized shares of common stock and 5,000,000 authorized shares of preferred stock. The terms of the preferred stock may be fixed by the board of directors, who have the right to determine the price, rights, preferences, privileges and restrictions, including voting rights, of those shares without any further vote or action by the stockholders. The rights of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of any preferred stock that may be issued in the future. | ||||||||
On July 28, 2014, the Company filed a Certificate of Designation to authorize 324 shares of Series 1 Redeemable Preferred Stock (the “Series 1 Shares”). The Series 1 Shares were authorized to enable the Company to acquire the remaining less than 1.0% of the outstanding shares of common stock of Chingis through a share exchange under the laws of Taiwan whereby the Company exchanged one one-thousandth (1/1000th) of a Series 1 Share for each outstanding share of Chingis common stock not already held by the Company. Each Series 1 Share was redeemable for cash at a price of $559.35 per share. On November 17, 2014, the Company redeemed all 324 of the Series 1 Shares at an aggregate cost of approximately $0.2 million. | ||||||||
As of September 30, 2014, shares of common stock were reserved for future issuance as follows: | ||||||||
Common shares reserved under Employee Stock Purchase Plan | 332,000 | |||||||
Common shares reserved under stock-based benefit plans | 6,305,000 | |||||||
Common Stock Repurchases | ||||||||
In both fiscal 2014 and fiscal 2013, the Company did not repurchase any shares of its common stock in the open market. As of September 30, 2014, the Company had repurchased and retired an aggregate of 14,179,711 shares of common stock at a cost of approximately $88.5 million since September 2007. As of September 30, 2014, $19.8 million remained available under the existing share repurchase authorization. | ||||||||
The Company issues RSUs as part of its equity incentive plans. For a portion of RSUs granted, the number of shares issued on the date the RSUs vest is net of the statutory withholding requirements that the Company pays on behalf of its employees. During fiscal 2014, the Company withheld 30,886 shares to satisfy approximately $358,000 of employees’ tax obligations. During fiscal 2013, the Company withheld 59,501 shares to satisfy approximately $555,000 of employees’ tax obligations. Although the shares withheld are not issued, they are treated as common stock repurchases for accounting purposes, as they reduce the number of shares that would have been issued upon vesting. | ||||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||
The components of accumulated other comprehensive income (loss), net of tax, were as follows at September 30: | ||||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Accumulated foreign currency translation adjustments | $ | 1,051 | $ | 4,787 | ||||
Accumulated net unrealized gain on SMIC (net of tax of $0 in 2014 and $275 in 2013) | — | 419 | ||||||
Accumulated net unrealized gain on Nanya (net of tax of $0 in 2014 and $3,565 in 2013) | — | 5,959 | ||||||
Accumulated net retirement plan transition asset (net of tax of $124 in 2014 and $148 in 2013) | 8 | 47 | ||||||
Accumulated net retirement plan actuarial losses (net of tax of $477 in 2014 and $470 in 2013) | (2,103 | ) | (2,091 | ) | ||||
Total accumulated other comprehensive income (loss) | $ | (1,044 | ) | $ | 9,121 | |||
The estimated net prior service cost, actuarial loss, and transition obligation for the Company's defined benefit plan that will be amortized from accumulated other comprehensive income (loss) to net periodic benefit cost during fiscal year 2015 is $0, $116,000, and $(59,000), respectively. |
Stock_Based_Compensation
Stock Based Compensation | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||||||
Stock-Based Compensation | ' | |||||||||||||||||||||||
Stock-Based Compensation | ||||||||||||||||||||||||
Stock-Based Benefit Plans | ||||||||||||||||||||||||
The Company grants stock-based compensation awards under its 2007 Incentive Compensation Plan (the “2007 Plan”). The Company has outstanding grants under prior option plans, though no further grants can be made under these prior plans. At September 30, 2014, the total number of shares subject to options and awards outstanding under all plans was 4,502,000. At September 30, 2014, 1,803,000 shares were available for future grant under the 2007 Plan. Options generally vest ratably over a four-year period with a 6-month or 1-year cliff vest and then vesting ratably over the remaining period. Options granted prior to October 1, 2005 expire ten years after the date of grant; options granted after October 1, 2005 expire seven years after the date of the grant. RSUs generally vest annually over periods ranging from two years to four years based upon continued employment with the Company. | ||||||||||||||||||||||||
2007 Incentive Compensation Plan | ||||||||||||||||||||||||
On July 30, 2007, the Company’s stockholders approved the 2007 Plan as previously approved by the Company’s board of directors. The 2007 Plan is the successor to each of the 1998 Stock Plan, 1996 Nonstatutory Stock Plan and 1995 Director Stock Option Plan (the “Predecessor Plans”), and no further grants can be made under the Predecessor Plans. | ||||||||||||||||||||||||
The 2007 Plan permits the grant of stock options, stock appreciation rights ("SARs"), restricted stock awards, RSUs, performance shares and performance units. The Compensation Committee of the Company’s board of directors has the authority to determine the type of incentive award, as well as the terms and conditions of the award, under the 2007 Plan. | ||||||||||||||||||||||||
3,000,000 shares of the Company’s common stock were initially reserved for issuance under the 2007 Plan. To the extent any awards outstanding under the Predecessor Plans subsequently terminate unexercised or any unvested shares outstanding under the Predecessor Plans are subsequently forfeited or repurchased by ISSI, the number of shares of common stock subject to those terminated awards, together with the forfeited shares, are added to the share reserve available for issuance under the 2007 Plan, up to an additional 4,000,000 shares. On July 20, 2011, the Company's stockholders approved an amendment and restatement of the 2007 Plan to increase the number of shares available for issuance thereunder by 2,000,000 shares, limit the number of awards other than options or SARS that may be granted thereunder to an aggregate of 263,100 and make certain other changes as set forth therein as previously approved by the Company’s board of directors. On February 8, 2013, the Company's stockholders approved an amendment of the 2007 Plan to increase the shares available for issuance thereunder by 2,000,000 shares as previously approved by the Company’s board of directors. On February 11, 2014, the Company's stockholders approved an amendment of the 2007 Plan to remove the limit on the number of awards (other than options or SARs) that can be issued under the plan as previously approved by the Company’s board of directors. | ||||||||||||||||||||||||
2012 Inducement Option Plan | ||||||||||||||||||||||||
On July 26, 2012, the Company's board of directors authorized and approved the 2012 Inducement Option Plan (the "Inducement Plan") which was adopted and approved by the compensation committee of the board of directors on September 17, 2012. The purpose of the Inducement Plan was to provide awards of stock options to persons employed by Chingis as a material inducement to such individuals entering into employment with the Company or its subsidiaries upon the acquisition of Chingis by the Company. In this regard, on September 17, 2012, the Company made stock option grants under the Inducement Plan for an aggregate of 439,500 shares of the Company's common stock. The grants under the Inducement Plan were non-qualified stock options to purchase shares of the Company’s common stock and have the following terms: (i) an exercise price equal to $10.42 per share which was the fair market value of the Company’s common stock on the grant date of September 17, 2012, (ii) a term of seven years from the date of grant, and (iii) vesting as to 12.5% of the shares on the six (6) month anniversary of the employment start date, and as to 1/48th of the total shares each month thereafter until the option is fully vested subject to continued employment with the Company. | ||||||||||||||||||||||||
Other Stock Plans | ||||||||||||||||||||||||
The Company has outstanding grants under its 1998 Stock Plan and 1996 Nonstatutory Stock Plan. Options generally vest ratably over a four-year period with a 6-month or 1-year cliff vest and then vesting ratably over the remaining period. Options granted prior to October 1, 2005 expire ten years after the date of grant and options granted after October 1, 2005 expire seven years after the date of the grant. | ||||||||||||||||||||||||
The Company has shares of common stock reserved for future issuance under its 1995 Employee Stock Purchase Plan (ESPP). As approved by the Board of Directors, effective August 1, 2010, shares under the ESPP will be purchased at a price equal to 85% of the lesser of the fair market value of the Company’s common stock as of the first day or the last day of each six-month purchase period. The offering periods under the 1995 Employee Stock Purchase Plan commence on approximately February 1 and August 1 of each year. During the fiscal years ended September 30, 2014, 2013 and 2012, 249,000 shares, 237,000 shares, and 181,000 shares were issued under the plan, respectively. As of September 30, 2014, 332,000 shares were available for future issuance under the plan. | ||||||||||||||||||||||||
Accounting for Stock-Based Compensation | ||||||||||||||||||||||||
Stock-based compensation cost is calculated by the Company on the date of grant using the fair value of the options and SARs as determined using the Black-Scholes option pricing model. The compensation cost is then amortized ratably over the vesting period of the individual option grants. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company estimates forfeitures based on its historical forfeiture rates as it believes these rates to be the most indicative of the Company’s expected forfeiture rate. | ||||||||||||||||||||||||
As of September 30, 2014, there was approximately $8.1 million of total unrecognized stock-based compensation expense related to options and awards under the Company’s stock option plans that will be recognized over a weighted-average period of approximately 2.08 years. Future stock option and award grants will add to this total whereas quarterly amortization and the vesting of the existing stock option and award grants will reduce this total. In addition, as of September 30, 2014, there was approximately $0.2 million of total unrecognized stock-based compensation expense under the Company’s ESPP that will be recognized over a weighted-average period of approximately four months. As of September 30, 2014, there was approximately $2.9 million of total unrecognized stock-based compensation expense related to SARs that will be recognized over a weighted-average period of approximately 3.10 years. Future SAR grants will add to this total whereas amortization and the vesting of the SARs will reduce this total. In addition, because the SARs are settled with cash, the fair value of the SARs must be revalued on a quarterly basis which will likely impact the amount of expense in future periods. | ||||||||||||||||||||||||
Cash flows from tax benefits resulting from the exercise of stock options are classified as financing cash flows in the statement of cash flows. | ||||||||||||||||||||||||
The Company issues new shares of common stock upon exercise of stock options and upon vesting of RSUs. The total intrinsic value (market value on date of exercise less exercise price) of options exercised and RSUs vested during the fiscal years ended September 30, 2014, 2013 and 2012, was $10.4 million, $7.0 million and $5.7 million, respectively. | ||||||||||||||||||||||||
The table below outlines the effects of total stock-based compensation. | ||||||||||||||||||||||||
Years Ended September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Stock-based compensation | ||||||||||||||||||||||||
Cost of sales | $ | 179 | $ | 179 | $ | 135 | ||||||||||||||||||
Research and development | 2,478 | 2,310 | 1,461 | |||||||||||||||||||||
Selling, general and administrative | 3,435 | 3,452 | 3,435 | |||||||||||||||||||||
Total stock-based compensation | 6,092 | 5,941 | 5,031 | |||||||||||||||||||||
Tax effect on stock-based compensation | (1,293 | ) | (1,089 | ) | — | |||||||||||||||||||
Net effect on net income (loss) | $ | 4,799 | $ | 4,852 | $ | 5,031 | ||||||||||||||||||
Valuation Assumptions | ||||||||||||||||||||||||
The Company uses the Black-Scholes option pricing model to estimate the fair value of the options granted. The Company estimates the expected term of options granted based upon historical exercise data. Estimated volatilities are based on historical stock price volatilities of the period immediately preceding the option grant that is equal in length to the option’s expected term. The Company believes that historical volatility is the best estimate of future volatility. The Company bases the risk-free interest rate on the implied yield currently available on U.S. Treasury zero-coupon issues with an equivalent remaining term. Prior to July 2014, the Company had never paid a dividend on its common stock and as such the dividend yield was 0% prior to such date. Since July 2014, the Company estimates the dividend yield based upon the average yield for the prior quarter. The Company also uses the Black-Scholes option pricing model to estimate the fair value of stock purchase rights under its ESPP. | ||||||||||||||||||||||||
The estimated values of stock option grants and stock purchase rights, as well as the weighted average assumptions used in calculating these values during the fiscal years ended September 30, 2014, 2013 and 2012, were based on estimates at the date of grant as follows: | ||||||||||||||||||||||||
Stock Options | ESPP | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Expected life (years) | 4.41 | 4.45 | 4.4 | 0.49 | 0.5 | 0.5 | ||||||||||||||||||
Expected volatility | 50 | % | 58 | % | 60 | % | 29 | % | 31 | % | 42 | % | ||||||||||||
Risk-free interest rate | 1.06 | % | 0.57 | % | 0.61 | % | 0.25 | % | 0.09 | % | 0.11 | % | ||||||||||||
Dividend yield | 0.06 | % | — | % | — | % | 0.75 | % | — | % | — | % | ||||||||||||
Weighted-average fair value of grants | $ | 4.76 | $ | 4.37 | $ | 4.7 | $ | 2.98 | $ | 2.44 | $ | 2.66 | ||||||||||||
The Company issues RSUs from time to time. The estimated fair value of RSU awards is calculated based on the market price of the Company’s common stock on the date of grant. The weighted average grant date fair value of RSUs granted during the fiscal years ended September 30, 2014 , 2013 and 2012 was $11.62 per share, $9.14 per share and $9.42 per share, respectively. | ||||||||||||||||||||||||
The following table is a summary of the Company’s stock option activity and related information for the last three fiscal years under the 1989 Stock Plan, 1996 Nonstatutory Stock Plan, 1998 Stock Plan, 1995 Director Stock Option Plan and the 2007 Plan (stock option amounts and aggregate intrinsic value are presented in thousands): | ||||||||||||||||||||||||
Outstanding Options | ||||||||||||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | |||||||||||||||||||||
Shares | Average | Average | Intrinsic Value | |||||||||||||||||||||
Exercise | Remaining | |||||||||||||||||||||||
Price | Contractual | |||||||||||||||||||||||
Term (in | ||||||||||||||||||||||||
years) | ||||||||||||||||||||||||
Balance at September 30, 2011 | 4,851 | $ | 5.57 | |||||||||||||||||||||
Options Granted | 1,608 | $ | 9.91 | |||||||||||||||||||||
Options Exercised | (857 | ) | $ | 5.18 | ||||||||||||||||||||
Options Cancelled/Expired | (125 | ) | $ | 9.68 | ||||||||||||||||||||
Balance at September 30, 2012 | 5,477 | $ | 6.81 | |||||||||||||||||||||
Options Granted | 1,106 | $ | 9.31 | |||||||||||||||||||||
Options Exercised | (1,116 | ) | $ | 5.61 | ||||||||||||||||||||
Options Cancelled/Expired | (116 | ) | $ | 9.83 | ||||||||||||||||||||
Balance at September 30, 2013 | 5,351 | $ | 7.51 | |||||||||||||||||||||
Options Granted | 500 | $ | 11.48 | |||||||||||||||||||||
Options Exercised | (1,460 | ) | $ | 6.88 | ||||||||||||||||||||
Options Cancelled/Expired | (151 | ) | $ | 10.32 | ||||||||||||||||||||
Balance at September 30, 2014 | 4,240 | $ | 8.1 | 3.77 | $ | 23,972 | ||||||||||||||||||
Exercisable at September 30, 2014 | 2,788 | $ | 7.06 | 3.05 | $ | 18,624 | ||||||||||||||||||
Vested and expected to vest after September 30, 2014 | 4,179 | $ | 8.06 | 3.74 | $ | 23,765 | ||||||||||||||||||
Options exercisable at: | ||||||||||||||||||||||||
September 30, 2012 | 3,072 | $ | 5.42 | 3.28 | ||||||||||||||||||||
September 30, 2013 | 3,173 | $ | 6.25 | 3.23 | ||||||||||||||||||||
September 30, 2014 | 2,788 | $ | 7.06 | 3.05 | ||||||||||||||||||||
The following table summarizes information about options outstanding and exercisable at September 30, 2014: | ||||||||||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||||||||||
Range of | Number of | Wtd. Average | Wtd. Average | Number of | Wtd. Average | |||||||||||||||||||
Exercise | Options | Remaining | Exercise Price | Options | Exercise Price | |||||||||||||||||||
Prices | Outstanding | Contractual Life | Exercisable | |||||||||||||||||||||
(in thousands) | (in years) | (in thousands) | ||||||||||||||||||||||
$ | 1.65 | - | $ | 4.34 | 888 | 1.73 | $ | 3.38 | 888 | $ | 3.38 | |||||||||||||
$ | 4.35 | - | 9.07 | 855 | 2.48 | $ | 7.35 | 804 | $ | 7.31 | ||||||||||||||
$ | 9.08 | - | 9.36 | 978 | 4.87 | $ | 9.19 | 447 | $ | 9.22 | ||||||||||||||
$ | 9.37 | - | 10.64 | 891 | 4.35 | $ | 10.01 | 485 | $ | 10.02 | ||||||||||||||
$ | 10.65 | - | 15.53 | 628 | 5.86 | $ | 11.35 | 164 | $ | 11.08 | ||||||||||||||
$ | 1.65 | - | $ | 15.53 | 4,240 | 3.77 | $ | 8.1 | 2,788 | $ | 7.06 | |||||||||||||
The following table is a summary of the Company’s RSU activity and related information under the 2007 Plan (RSU amounts and aggregate intrinsic value are presented in thousands): | ||||||||||||||||||||||||
Number of | Weighted- | Aggregate | ||||||||||||||||||||||
Shares | Average | Intrinsic Value | ||||||||||||||||||||||
Grant-Date | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
Outstanding awards at September 30, 2011 | 382 | $ | 7.84 | |||||||||||||||||||||
Granted | 106 | $ | 9.42 | |||||||||||||||||||||
Vested | (165 | ) | $ | 7.73 | $ | 1,563 | ||||||||||||||||||
Forfeited | — | $ | 10.64 | |||||||||||||||||||||
Outstanding awards at September 30, 2012 | 323 | $ | 8.41 | |||||||||||||||||||||
Granted | 121 | $ | 9.14 | |||||||||||||||||||||
Vested | (172 | ) | $ | 7.94 | $ | 1,612 | ||||||||||||||||||
Forfeited | (3 | ) | $ | 10.64 | ||||||||||||||||||||
Outstanding awards at September 30, 2013 | 269 | $ | 9.02 | |||||||||||||||||||||
Granted | 88 | $ | 11.62 | |||||||||||||||||||||
Vested | (94 | ) | $ | 8.94 | $ | 1,096 | ||||||||||||||||||
Forfeited | (1 | ) | $ | 10.64 | ||||||||||||||||||||
Outstanding awards at September 30, 2014 | 262 | $ | 9.91 | $ | 3,594 | |||||||||||||||||||
The Company began granting cash-settled SARs in the first quarter of fiscal 2014. The SARs vest ratably over a four-year period with a 6-month or 1-year cliff vest and then vest ratably each month over the remaining period based upon continued employment with the Company. The SARs expire seven years after the date of grant. These SARs allow the holder to receive in cash the difference between the SARs' exercise price (which is the closing market price of the Company's common stock on the grant date) and the closing market price of the Company's common stock on the date the holder exercises the SAR. The SARs are recorded as a liability in accrued compensation and benefits in the Company's balance sheet. | ||||||||||||||||||||||||
A summary of the Company’s SAR activity and related information under the 2007 Plan follows (number of shares and aggregate intrinsic value are presented in thousands): | ||||||||||||||||||||||||
Number of | Weighted-Average | Weighted-Average | Aggregate | |||||||||||||||||||||
Shares | Exercise Price | Remaining | Intrinsic Value | |||||||||||||||||||||
Contractual Term in Years | ||||||||||||||||||||||||
Balance at September 30, 2013 | — | $ | — | |||||||||||||||||||||
Granted | 779 | $ | 10.96 | |||||||||||||||||||||
Exercised | (9 | ) | $ | 10.96 | $ | 38 | ||||||||||||||||||
Cancelled/Expired | (23 | ) | $ | 10.96 | ||||||||||||||||||||
Balance at September 30, 2014 | 747 | $ | 10.96 | 6.1 | $ | 2,077 | ||||||||||||||||||
Exercisable at September 30, 2014 | 82 | $ | 10.96 | 6.09 | $ | 228 | ||||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
Income before provision for income taxes consisted of the following: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
United States | $ | 4,126 | $ | 4,542 | $ | 9,723 | ||||||
International | 29,001 | 25,479 | (5,816 | ) | ||||||||
Total pre-tax income | $ | 33,127 | $ | 30,021 | $ | 3,907 | ||||||
The provision for income taxes consisted of the following for the years ended September 30: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Current: | ||||||||||||
Federal | $ | 2,710 | $ | 2 | $ | 235 | ||||||
State | 124 | 86 | 141 | |||||||||
Foreign | 4,565 | 2,902 | 1,120 | |||||||||
Total current | 7,399 | 2,990 | 1,496 | |||||||||
Deferred: | ||||||||||||
Federal | 1,091 | 7,596 | 5,470 | |||||||||
State | 933 | 12 | 95 | |||||||||
Foreign | 215 | 1,679 | (549 | ) | ||||||||
Total deferred | 2,239 | 9,287 | 5,016 | |||||||||
Total provision | $ | 9,638 | $ | 12,277 | $ | 6,512 | ||||||
The Company’s provision for income taxes differs from the amount computed by applying the U.S. federal statutory rate (35%) to income before taxes and minority interest as follows for the years ended September 30: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Income taxes computed at the U.S. federal statutory rate | $ | 11,595 | $ | 10,507 | $ | 1,367 | ||||||
State income taxes | 1,057 | 98 | 69 | |||||||||
Research credits | (41 | ) | (89 | ) | 757 | |||||||
Foreign losses not benefited | — | — | 1,377 | |||||||||
Foreign income inclusion, net of credit | 1,765 | 6,469 | — | |||||||||
Non-deductible stock compensation | 1,126 | 991 | 672 | |||||||||
Non-deductible impairment charges | — | — | 3,321 | |||||||||
Valuation allowance changes | (815 | ) | (1,334 | ) | 1,384 | |||||||
Foreign taxes | (5,371 | ) | (4,334 | ) | (2,523 | ) | ||||||
Other | 322 | (31 | ) | 88 | ||||||||
Total provision | $ | 9,638 | $ | 12,277 | $ | 6,512 | ||||||
As of September 30, 2014, the Company had net operating loss carryforwards for federal, state and foreign income tax purposes of approximately $14.5 million, $73.2 million and $20.9 million, respectively. The federal net operating loss carryforwards will expire at various dates beginning in 2026, if not utilized. The state net operating loss carryforwards will expire at various dates beginning in 2015, if not utilized. The Company has federal research and development, foreign tax and minimum tax credit carryforwards of approximately $3.0 million, $5.4 million and $0.6 million, respectively. The federal tax credits will expire in 2016 through 2034, if not utilized. The Company has California research and development tax credit carryforwards of approximately $2.7 million. The California research and development tax credit can be carried forward indefinitely. | ||||||||||||
Utilization of the federal net operating loss carryforwards and credits may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended, and similar state provisions. The annual limitation, should the Company undergo an ownership change, may result in the expiration of federal or state net operating losses and credits before utilization. | ||||||||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred taxes consisted of the following at September 30: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
Depreciation | $ | — | $ | 217 | ||||||||
Inventory and other valuation reserves | 457 | 532 | ||||||||||
Accrued expenses | 5,745 | 5,312 | ||||||||||
Federal, state and foreign credit carryforwards | 9,804 | 4,310 | ||||||||||
Federal, state and foreign net operating loss carryforwards | 12,835 | 20,388 | ||||||||||
Non-deductible stock options | 3,106 | 3,064 | ||||||||||
Other, net | 1,600 | 38 | ||||||||||
Subtotal | 33,547 | 33,861 | ||||||||||
Valuation allowance | (23,287 | ) | (24,928 | ) | ||||||||
Total deferred tax assets | $ | 10,260 | $ | 8,933 | ||||||||
Deferred tax liabilities: | ||||||||||||
Purchased intangibles | (866 | ) | (1,144 | ) | ||||||||
Net deferred tax assets | $ | 9,394 | $ | 7,789 | ||||||||
Reported as: | ||||||||||||
Current deferred tax assets | $ | 1,868 | $ | 2,326 | ||||||||
Non-current deferred tax assets | 8,392 | 9,942 | ||||||||||
Non-current deferred tax liabilities | (866 | ) | (4,479 | ) | ||||||||
Net deferred tax assets | $ | 9,394 | $ | 7,789 | ||||||||
Non-current deferred tax liabilities are included within other long-term liabilities in the consolidated balance sheets. | ||||||||||||
Management has established a valuation allowance for a portion of the gross deferred tax assets based on management’s expectations of future taxable income and the actual taxable income during the three years ended September 30, 2014. The valuation allowance for deferred tax assets decreased by $1.6 million in fiscal 2014, increased by $41,000 in fiscal 2013 and increased by $2.7 million in fiscal 2012. Approximately $13.3 million of the valuation allowance is attributable to tax benefits of stock option deductions which will be credited to paid-in capital when recognized. | ||||||||||||
A reconciliation of the beginning and ending amount of the consolidated liability for unrecognized income tax benefits during the tax year ended September 30 is as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Balance at the beginning of the year | $ | 3,052 | $ | 2,906 | $ | 4,533 | ||||||
Increases related to current year positions | 90 | 108 | 68 | |||||||||
Increases (decreases) related to prior year positions | 78 | 38 | (1,695 | ) | ||||||||
Balance at the end of the year | $ | 3,220 | $ | 3,052 | $ | 2,906 | ||||||
The Company does not anticipate a significant change in unrecognized tax benefits within the next twelve months except for any adjustments related to the expiration of the statute of limitations. | ||||||||||||
The Company anticipates its unrecognized tax benefits may increase in future periods for items that arise in the ordinary course of business. These increases will be considered in the determination of the Company’s annual effective tax rate. The amount of the unrecognized tax benefit classified as a long term tax payable, if recognized, would reduce the annual income tax provision. | ||||||||||||
The Company’s policy to include interest and penalties related to unrecognized tax benefits within the Company’s provision for (benefit from) income taxes did not change from fiscal 2013. As of September 30, 2014, the Company has not accrued any potential penalties and interest related to these unrecognized tax benefits. | ||||||||||||
The Company files U.S., state and foreign income tax returns in jurisdictions with varying statutes of limitations during which such tax returns may be audited and adjusted by the relevant tax authorities. The 2010 through 2014 tax years generally remain subject to examination by federal and most state tax authorities, and tax years 2007 through 2014 generally remain subject to examination by foreign tax authorities. In addition, U.S. tax returns are open from the 2002 tax year through the 2006 tax year to the extent that net operating losses generated during these periods are being utilized in open tax periods. Also, U.S. tax returns are open for the tax years from 1999 through 2014 to the extent research and development credits were generated during these periods. |
Retirement_Plan
Retirement Plan | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||
Retirement Plan | ' | |||||||||||
Retirement Plan | ||||||||||||
Pension Plan | ||||||||||||
The Company has pension plans covering substantially all of its Taiwan-based employees. The pension plans are based on the Labor Standards Law, a defined benefit plan (Benefit Plan), and the Labor Pension Act, a defined contribution plan (Contribution Plan). Under the Labor Standards Law, the Benefit Plan provides for a lump sum payment upon retirement based on years of service and the employee’s compensation during the last six months of employment. In accordance with the Labor Standards Law of Taiwan, the Company makes monthly contributions equal to 2% of its wages and salaries. The fund is administered by the Employees’ Retirement Fund Committee and is registered in this committee’s name. Accordingly, the pension fund assets are not included in the financial statements of the Company. | ||||||||||||
Under the Labor Pension Act effective July 1, 2005, employees may choose the requirements under the Labor Standards Law or the new statute. For employees subject to the new statute, the Company shall contribute no less than 6% of the employees’ wages and salaries to the Contribution Plan. | ||||||||||||
Benefit Obligation and Plan Assets | ||||||||||||
As of September 30, 2014 and 2013, the Company’s Benefit Plan had projected benefit obligations in excess of plan assets. The changes in the benefit obligation and plan assets for the Benefit Plan described above were as follows: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Change in projected benefit obligation: | ||||||||||||
Beginning benefit obligation | $ | 6,390 | $ | 6,047 | ||||||||
Service cost | 204 | 200 | ||||||||||
Interest cost | 124 | 119 | ||||||||||
Actuarial loss | 199 | 90 | ||||||||||
Currency exchange rate changes | (161 | ) | (66 | ) | ||||||||
Ending projected benefit obligation | $ | 6,756 | $ | 6,390 | ||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Change in fair value plan assets: | ||||||||||||
Beginning fair value of plan assets | $ | 2,599 | $ | 2,510 | ||||||||
Actual return on plan assets | 60 | 32 | ||||||||||
Employer contributions | 86 | 86 | ||||||||||
Currency exchange rate changes | (65 | ) | (29 | ) | ||||||||
Ending fair value of plan assets | $ | 2,680 | $ | 2,599 | ||||||||
The following table summarizes the amounts recognized on the consolidated balance sheet as of September 30: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Other long-term liabilities | $ | 4,076 | $ | 3,790 | ||||||||
Accumulated other comprehensive income (net of tax of $353 in 2014 and $322 in 2013) | 2,095 | 2,044 | ||||||||||
Amount recognized | $ | 6,171 | $ | 5,834 | ||||||||
The following table summarizes the amounts recorded in accumulated other comprehensive income (loss) before taxes, as of September 30: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Net transition asset | $ | 132 | $ | 195 | ||||||||
Net actuarial loss | (2,580 | ) | (2,561 | ) | ||||||||
Defined benefit plans, net | $ | (2,448 | ) | $ | (2,366 | ) | ||||||
The following table summarizes the accumulated benefit obligation as of September 30: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Accumulated benefit obligation | $ | 4,308 | $ | 3,940 | ||||||||
Weighted-average actuarial assumptions used to determine benefit obligations and plan assets for the Benefit Plan at September 30 were as follows: | ||||||||||||
2014 | 2013 | |||||||||||
Discount rate | 1.90-2.00% | 1.90-2.00% | ||||||||||
Expected return on plan assets | 1.90-2.00% | 1.90-2.00% | ||||||||||
Rate of compensation increase | 3.00-4.00% | 3.00-4.00% | ||||||||||
The assumptions used in the expected long-term rate of return on plan assets are determined by the Bureau of Labor Insurance in Taiwan. | ||||||||||||
The net periodic benefit cost for the Benefit Plan included the following components at September 30: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Service cost | $ | 204 | $ | 200 | $ | 195 | ||||||
Interest cost | 124 | 119 | 108 | |||||||||
Expected return on plan assets | (51 | ) | (50 | ) | (44 | ) | ||||||
Amortization of deferred amount | 50 | 40 | 36 | |||||||||
Net periodic benefit cost | $ | 327 | $ | 309 | $ | 295 | ||||||
The balance of vested benefits was $881,000 and $352,000 as of September 30, 2014 and September 30, 2013, respectively. | ||||||||||||
Non-U.S. Plan Assets | ||||||||||||
For the Benefit Plan, the Company deposits funds into government-managed accounts, and accrues for the unfunded portion of its obligation. | ||||||||||||
Estimated Future Benefit Payments | ||||||||||||
The following table reflects the benefit payments, which include the amount that will be funded from retiree contributions that the Company expects to pay in the periods noted (in thousands): | ||||||||||||
Fiscal year ending: | ||||||||||||
2015 | $ | 941 | ||||||||||
2016 | $ | 150 | ||||||||||
2017 | $ | 69 | ||||||||||
2018 | $ | 513 | ||||||||||
2019 | $ | 407 | ||||||||||
2020-2024 | $ | 3,266 | ||||||||||
Estimated Future Contributions | ||||||||||||
The Company’s expected contributions to be paid to the Benefit Plan during fiscal 2015 is $45,000. | ||||||||||||
ISSI 401(k) Plan | ||||||||||||
The Company sponsors the ISSI 401(k) Plan (401(k) Plan) to provide retirement benefits to its eligible U.S. employees. As allowed under Section 401(k) of the Internal Revenue Code, the 401(k) Plan provides for tax-deferred salary contributions and after-tax contributions for eligible employees. The 401(k) Plan allows employees to contribute up to 75% of their eligible compensation to the 401(k) Plan on a pre-tax and after-tax basis, and effective November 1, 2011, the 401(k) Plan also allows employees to make Roth contributions. Employee contributions are limited to a maximum annual amount as set periodically by the Internal Revenue Code. The 401(k) Plan also allows employees who meet the age requirements and reach the 401(k) Plan contribution limits to make a catch-up contribution not to exceed the lesser of 75% of their eligible compensation or the limit set forth in the Internal Revenue Code. The catch-up contributions are not eligible for matching contributions. The 401(k) Plan allows for employer matching contributions and the Company has elected to make a contribution for the plan years ending December 31, 2014 and December 31, 2013 in an amount equal to 50% of every dollar contributed by the employee up to 10% of the employees' eligible earnings. The matching contribution will not exceed $6,000 per year for any participant. The Company contributions are subject to vesting of 25% for each year of service with the Company. In fiscal 2014, the Company made a matching contribution to the 401(k) Plan in the aggregate amount of $378,000. The Company elected not to make any matching contributions during fiscal 2013. Administrative expenses relating to the plan are insignificant. | ||||||||||||
Deferred Compensation Plan | ||||||||||||
The Compensation Committee of the Board of Directors of the Company adopted the Non-qualified Deferred Compensation Plan (the Deferred Compensation Plan or NDCP), effective as of March 22, 2013. As required by applicable law, participation in the Deferred Compensation Plan is limited to a select group of management and highly-compensated employees of the Company and its participating subsidiaries and affiliates, which group includes the Company’s executive officers. Under the Deferred Compensation Plan, which is an unfunded and unsecured deferred compensation arrangement, a participant may elect to defer part of his or her base salary and/or commissions (if any), but not more than 50% of his or her base salary or commissions, and all or part of his or her eligible bonus (if any) or performance-based compensation (if any), in each case on a pre-tax basis. Such deferrals made by participants in the NDCP are at all times 100% vested. In addition, the Company and its participating subsidiaries and affiliates may, but are not required to, make matching or discretionary contributions to the accounts of participants in the NDCP. The matching or discretionary contributions (if any) made by the Company and/or its participating subsidiaries and affiliates may be subject to any vesting schedule determined by the Company when any such matching or discretionary contribution is made, but will vest in full upon a participant’s disability, death, separation from service due do retirement, or upon a “change in control” of the Company (as defined in the NDCP). The Company elected to make no matching or discretionary contributions during the fiscal 2014 and fiscal 2013. | ||||||||||||
The Company has a prior non-qualified deferred compensation plan; however, no employee contributions have been made to the prior plan since fiscal 1998. |
Per_Share_Data
Per Share Data | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Per Share Data | ' | |||||||||||
Per Share Data | ||||||||||||
The calculations of basic and diluted net income (loss) per share for each of the three years ended September 30, 2014, 2013 and 2012 are as follows: | ||||||||||||
Years Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands, except per share data) | ||||||||||||
Numerator for basic and diluted net income (loss) per share: | ||||||||||||
Net income (loss) | $ | 23,265 | $ | 17,548 | $ | (2,718 | ) | |||||
Denominator for basic net income (loss) per share: | ||||||||||||
Weighted average common shares outstanding | 30,037 | 28,223 | 27,120 | |||||||||
Dilutive effect of stock options and awards | 1,586 | 1,471 | — | |||||||||
Denominator for diluted net income (loss) per share | 31,623 | 29,694 | 27,120 | |||||||||
Basic net income (loss) per share | $ | 0.77 | $ | 0.62 | $ | (0.10 | ) | |||||
Diluted net income (loss) per share | $ | 0.74 | $ | 0.59 | $ | (0.10 | ) | |||||
The diluted earnings per share calculation for the year ended September 30, 2012 does not include approximately 1,781,000 potential common shares from outstanding stock options and awards because their inclusion would be anti-dilutive. For the years ended September 30, 2014, 2013, and 2012, an additional 952,000, 2,733,000 and 1,499,000 stock options and awards were excluded from diluted earnings per share by the application of the treasury stock method. |
Geographic_and_Segment_Informa
Geographic and Segment Information | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Geographic and Segment Information | ' | |||||||||||
Geographic and Segment Information | ||||||||||||
The Company has one operating segment, which is to design, develop, market and sell high performance DRAM, SRAM, and other semiconductor products. The following table summarizes the Company’s operations in different geographic areas: | ||||||||||||
Years Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Net Sales | ||||||||||||
United States | $ | 38,293 | $ | 37,954 | $ | 42,527 | ||||||
China | 43,422 | 32,170 | 17,913 | |||||||||
Hong Kong | 60,534 | 64,193 | 57,971 | |||||||||
Taiwan | 46,968 | 41,204 | 26,107 | |||||||||
Japan | 21,944 | 30,102 | 29,664 | |||||||||
Other Asia Pacific countries | 40,364 | 37,897 | 32,987 | |||||||||
Europe | 75,687 | 62,065 | 57,295 | |||||||||
Other | 1,765 | 1,985 | 1,486 | |||||||||
Total net sales | $ | 328,977 | $ | 307,570 | $ | 265,950 | ||||||
Long-lived assets | ||||||||||||
United States | $ | 11,174 | $ | 9,696 | $ | 440 | ||||||
Hong Kong | 14 | 7 | 7 | |||||||||
China | 12,908 | 3,424 | 558 | |||||||||
Taiwan | 34,751 | 33,377 | 28,281 | |||||||||
Total long-lived assets | $ | 58,847 | $ | 46,504 | $ | 29,286 | ||||||
Revenues are attributed to countries based on the shipping location of customers. | ||||||||||||
Long-lived assets by geographic area are those assets used in the Company’s operations in each area. | ||||||||||||
Net foreign currency transaction gains (losses) of approximately $436,000, $214,000, and $(640,000) for the years ended September 30, 2014, 2013, and 2012, respectively, are included in the determination of net income (loss). |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Commitments and Contingencies | ||||
Patents and Licenses | ||||
In the semiconductor industry, it is not unusual for companies to receive notices alleging infringement of patents or other intellectual property rights of others. The Company has been, and from time-to-time expects to be, notified of claims that it may be infringing patents, maskwork rights or copyrights owned by third parties. If it appears necessary or desirable, the Company may seek licenses under patents that it is alleged to be infringing. Although patent holders commonly offer such licenses, licenses may not be offered and the terms of any offered licenses may not be acceptable to the Company. The failure to obtain a license under a key patent or intellectual property right from a third party for technology used by the Company could cause it to incur substantial liabilities and to suspend the manufacture of the products utilizing the invention or to attempt to develop non-infringing products, any of which could materially and adversely affect the Company’s business and operating results. Furthermore, there can be no assurance that the Company will not become involved in protracted litigation regarding its alleged infringement of third party intellectual property rights or litigation to assert and protect its patents or other intellectual property rights. Any litigation relating to patent infringement or other intellectual property matters could result in substantial cost and diversion of the Company’s resources. | ||||
Litigation | ||||
GSI Technology Inc. v. Integrated Silicon Solution, Inc., et al. | ||||
On October 2, 2013, GSI Technology Inc. (GSI) filed a Second Amended Complaint in a lawsuit filed earlier in 2013 solely against defendant United Memories, Inc. in the United States District Court for the Northern District of California. GSI named the Company as a new, second defendant in the Second Amended Complaint. On April 18, 2014, the Court granted the Company's motion to dismiss that complaint in part, leaving claims against the Company for Unfair Competition under California Business & Professions Code 17200, misappropriation of trade secrets, and intentional interference with prospective economic advantage. In the remaining portion of the complaint, GSI alleged that the Company acted together with United Memories, Inc. to harm GSI in connection with a bid requested by Cisco Systems, Inc. and misappropriated alleged GSI trade secrets. GSI seeks damages and injunctive relief. The Company filed an answer on June 2, 2014 and asserted a declaratory relief counterclaim against GSI. Before the Company was named as a defendant, the Court denied motions by GSI against United Memories, Inc. for temporary and preliminary injunctive relief. The Court issued a case management order on June 13, 2014 with a scheduled trial date of July 13, 2015. The Company believes it has meritorious defenses to the claims alleged by GSI and intends to defend this suit vigorously. However, there can be no assurance as to the outcome of this matter or any future litigation. | ||||
Other Legal Proceedings | ||||
In the ordinary course of its business, the Company has been involved in a limited number of other legal actions, both as plaintiff and defendant, and could incur uninsured liability in any one or more of them. Although the outcome of these actions is not presently determinable, the Company believes that the ultimate resolution of these matters will not have a material adverse effect on its financial position, cash flows or results of operations. However, no assurances can be given with respect to the extent or outcome of any such litigation in the future. | ||||
Operating Leases | ||||
The Company leases various facilities and the land upon which its building in Taiwan is situated under operating lease agreements that expire at various dates through 2019. Minimum rental commitments under these leases are as follows (in thousands): | ||||
Fiscal year ending: | ||||
2015 | $ | 1,116 | ||
2016 | 736 | |||
2017 | 154 | |||
2018 | 83 | |||
2019 | 50 | |||
Thereafter | — | |||
Total minimum rental commitments | $ | 2,139 | ||
Total rental expense, recorded on a straight-line basis, for the fiscal years ended September 30, 2014, 2013 and 2012 was approximately $1.3 million, $1.4 million and $1.4 million, respectively. | ||||
Commitments to Wafer Fabrication Facilities | ||||
The Company issues purchase orders for wafers to various wafer foundries. These purchase orders are generally considered to be cancelable. However, to the degree that the wafers have entered into work-in-process, as a matter of practice it becomes increasingly difficult to cancel the purchase order. As of September 30, 2014, the Company had approximately $28.9 million of purchase orders for which the related wafers had been entered into wafer work-in-process (i.e., manufacturing had begun). |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Sep. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Related Party Transactions | |
The Company sells semiconductor products to Chrontel International Ltd. (Chrontel). Jimmy S.M. Lee, the Company’s Executive Chairman, has been a director of Chrontel since July 1995. Sales to Chrontel were $238,000, $429,000 and $458,000 during the fiscal years ended September 30, 2014, 2013 and 2012, respectively. Accounts receivable from Chrontel was approximately $59,000 and $65,000 at September 30, 2014 and September 30, 2013, respectively. |
Acquisition_of_Chingis
Acquisition of Chingis (Chingis) | 12 Months Ended | |||||
Sep. 30, 2014 | ||||||
Chingis | ' | |||||
Business Acquisition [Line Items] | ' | |||||
Acquisition of Chingis | ' | |||||
Acquisition of Chingis | ||||||
On September 14, 2012, the Company acquired approximately 94.1% of Chingis Technology Corporation (Chingis), a company headquartered in Taiwan. Chingis provides a variety of NOR flash memory technologies used in standalone and embedded applications. The Company’s goal with this acquisition is to strengthen its specialty memory product portfolio by adding another specialty memory technology to expand the Company's future growth opportunities. In addition, the Company expects to leverage existing customer and vendor relationships to promote Chingis’s products. | ||||||
The purchase price was approximately $31.8 million, or $13.2 million net of the approximately $18.6 million in cash on Chingis' balance sheet at closing. | ||||||
The allocation of the purchase price of Chingis includes both tangible assets and acquired intangible assets. The excess of the purchase price over the fair value allocated to the net assets is goodwill. The goodwill recognized was attributable primarily to expected synergies and the assembled workforce of Chingis. The Company currently does not expect to receive a tax benefit for such goodwill. | ||||||
The purchase price allocation is as follows (in thousands): | ||||||
Cash and cash equivalents | $ | 18,622 | ||||
Accounts receivable | 6,546 | |||||
Inventories | 5,229 | |||||
Property, equipment and leasehold improvements | 117 | |||||
Other current and other assets | 844 | |||||
Intangible assets: | ||||||
In-process technology | 400 | |||||
Developed technology | 3,690 | |||||
Customer relationships | 3,340 | |||||
Other intangibles | 450 | |||||
Total identifiable assets acquired | 39,238 | |||||
Current liabilities and other liabilities | (7,946 | ) | ||||
Deferred tax liability | (1,440 | ) | ||||
Total liabilities assumed | (9,386 | ) | ||||
Net identifiable assets acquired | 29,852 | |||||
Noncontrolling interest | (1,996 | ) | ||||
Goodwill | 3,976 | |||||
Net assets acquired | $ | 31,832 | ||||
The noncontrolling interest was determined based on the acquisition date fair value and the minority shareholders' ownership percentage. | ||||||
The developed technology is being amortized over six years, the customer relationships are being amortized over six years and the other intangible assets are being amortized over three years. | ||||||
In fiscal 2012, the Company incurred costs of $0.4 million related to its acquisition of Chingis. These costs are recorded in selling, general and administrative expenses in the Company’s consolidated statements of operations. The Company's financial results for fiscal 2012, include revenue of $1.2 million and a net loss of $1.2 million attributable to Chingis for the period from September 14, 2012 through September 30, 2012. | ||||||
In May 2013, the Company acquired an additional 4.8% of Chingis for approximately $1.6 million. In fiscal 2014, the Company acquired the remaining 1.1% of Chingis for approximately $0.4 million. At September 30, 2014, the Company owned 100% of Chingis. | ||||||
Quarterly_Financial_Informatio
Quarterly Financial Information | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information (unaudited) | ' | ||||||||||||||||
Quarterly Financial Information (unaudited) | |||||||||||||||||
The following tables show the Company's quarterly results of operations for each of the years ended September 30, 2014 and 2013. | |||||||||||||||||
Fiscal 2014 | Fourth | Third | Second | First | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
(in thousands, except per share data) | |||||||||||||||||
Net sales | $ | 84,152 | $ | 84,834 | $ | 80,868 | $ | 79,123 | |||||||||
Gross profit | $ | 29,681 | $ | 29,296 | $ | 27,750 | $ | 25,529 | |||||||||
Operating income | $ | 5,351 | $ | 6,376 | $ | 5,454 | $ | 3,537 | |||||||||
Consolidated net income | $ | 2,858 | $ | 6,227 | -1 | $ | 8,958 | -2 | $ | 5,446 | -3 | ||||||
Net income attributable to ISSI | $ | 2,832 | $ | 6,186 | -1 | $ | 8,812 | -2 | $ | 5,435 | -3 | ||||||
Basic net income per share | $ | 0.09 | $ | 0.2 | $ | 0.3 | $ | 0.19 | |||||||||
Diluted net income per share | $ | 0.09 | $ | 0.19 | $ | 0.28 | $ | 0.18 | |||||||||
Dividends per common share paid | $ | 0.06 | $ | — | $ | — | $ | — | |||||||||
Market price range common stock: | |||||||||||||||||
High | $ | 15.8 | $ | 15.95 | $ | 15.6 | $ | 12.43 | |||||||||
Low | $ | 13.62 | $ | 12.78 | $ | 10.8 | $ | 10.52 | |||||||||
Fiscal 2013 | |||||||||||||||||
Net sales | $ | 78,392 | $ | 77,788 | $ | 74,991 | $ | 76,399 | |||||||||
Gross profit | $ | 25,934 | $ | 26,047 | $ | 24,989 | $ | 24,491 | |||||||||
Operating income | $ | 4,693 | $ | 4,635 | $ | 3,951 | $ | 3,379 | |||||||||
Consolidated net income | $ | 4,730 | -4 | $ | 7,246 | -5 | $ | 3,280 | -6 | $ | 2,488 | ||||||
Net income attributable to ISSI | $ | 4,698 | -4 | $ | 7,064 | -5 | $ | 3,287 | -6 | $ | 2,499 | ||||||
Basic net income per share | $ | 0.16 | $ | 0.25 | $ | 0.12 | $ | 0.09 | |||||||||
Diluted net income per share | $ | 0.15 | $ | 0.24 | $ | 0.11 | $ | 0.09 | |||||||||
Market price range common stock: | |||||||||||||||||
High | $ | 11.99 | $ | 11.31 | $ | 9.92 | $ | 9.73 | |||||||||
Low | $ | 9.99 | $ | 8.31 | $ | 8.33 | $ | 8.18 | |||||||||
________________________ | |||||||||||||||||
-1 | In the June 2014 quarter, the Company realized a gain of $2.1 million from the sale of its remaining freely-tradeable shares of Nanya common stock. | ||||||||||||||||
-2 | In the March 2014 quarter, the Company realized a gain from the sale of investments of $6.0 million including $3.9 million from the sale of a portion of its shares of Nanya common stock and $2.1 million from the sale of its remaining shares of SMIC common stock. | ||||||||||||||||
-3 | In the December 2013 quarter, the Company realized a gain of $3.1 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
-4 | In the September 2013 quarter, the Company realized a gain of $2.9 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
-5 | In the June 2013 quarter, the Company realized a gain from the sale of investments of $7.3 million including $7.0 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
-6 | In the March 2013 quarter, the Company realized a gain of $2.1 million from the sale of a portion of its shares of Nanya common stock. |
Organization_and_Significant_A1
Organization and Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying consolidated financial statements include the accounts of Integrated Silicon Solution, Inc. and its majority owned subsidiaries, after elimination of all significant intercompany accounts and transactions. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments with an original maturity of 90 days or less at the date of purchase to be cash equivalents. Cash and cash equivalents are maintained at various financial institutions. | |
Investments | ' |
Investments | |
Debt securities and marketable equity securities are classified as “available-for-sale”. Available-for-sale securities are recorded at fair value with unrealized gains and losses included in accumulated other comprehensive income (loss). Realized gains and losses and declines in value judged to be other-than-temporary on available-for-sale securities are included in interest and other income, net. The cost of fixed income securities sold is based on the specific identification method and the weighted-average method is used to determine the cost basis of publicly traded equity securities disposed of. Interest and dividends on securities classified as available-for-sale are included in interest and other income, net. | |
The Company accounts for non-marketable equity and other equity investments for which it does not have control over the investee as equity method investments when the Company has the ability to exercise significant influence, but not control, over the investee. The Company accounts for non-marketable equity and other equity investments as non-marketable cost method investments when the equity method does not apply. The Company's non-marketable equity and other equity investments are included in other assets in its consolidated balance sheet. | |
The Company regularly reviews its investments to determine whether a decline in fair value below the cost basis is other than temporary. If the decline in fair value is determined to be other than temporary, the cost basis of the investment is written down to fair value, and the amount of the write-down is included in the consolidated statements of operations. | |
Inventories | ' |
Inventories | |
Inventories are stated at the lower of cost (first-in, first-out) or market. The Company’s inventory valuation process is done on a part-by-part basis. Lower of cost or market adjustments, specifically identified on a part-by-part basis, reduce the carrying value of the related inventory and take into consideration reductions in sales prices. Determining the market value of inventories on hand and at distributors as of the balance sheet date involves numerous judgments, including projecting average selling prices and sales volumes for future periods and costs to complete products in work in process inventories. When market values are below the Company’s costs, the Company records a charge to cost of goods sold to write down inventories to estimated market value in advance of when the inventories are actually sold. If actual market conditions are less favorable than those projected by management, additional inventory write-downs may be required that may adversely affect the Company’s operating results. If actual market conditions are more favorable, the Company may have higher gross margins when such products are sold. The Company writes down to zero dollars the carrying value of inventory on hand that has aged over one year (two years for wafer and die bank) to cover estimated excess and obsolete exposures, unless adjustments are made based on management’s judgments for newer products, end of life products, planned inventory increases or strategic customer supply. Once established, these write-downs are considered permanent. | |
Property and Equipment | ' |
Property and Equipment | |
Property and equipment are stated at cost. Depreciation and amortization are computed using the straight-line method, based upon the shorter of the estimated useful lives ranging from two to ten years for property and equipment and from 30 to 50 years for buildings or the lease term for improvements to leased properties. | |
Goodwill and Purchased Intangible Assets | ' |
Goodwill and Purchased Intangible Assets | |
The Company tests goodwill and other indefinite-lived intangible assets for impairment on an annual basis and between annual tests if events or circumstances require an interim impairment assessment. For goodwill, the Company either makes a qualitative assessment prior to proceeding to step one of the annual goodwill impairment test or performs a two-step impairment test. If the Company makes a qualitative assessment and it determines that the fair value of the reporting unit is less than its carrying amount, the Company would perform step one of the annual goodwill impairment test and, if necessary, proceed to step two. Otherwise, no further evaluation is necessary. For the two-step impairment test, in the first step, the Company compares the fair value of the reporting unit to its carrying value, including goodwill. The Company determines the fair value of the reporting unit based on a weighting of income and market approaches. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired and no further testing is performed. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, then the Company performs the second step of the impairment test to determine the implied fair value of the reporting unit’s goodwill. If the carrying value of a reporting unit’s goodwill exceeds its implied fair value, the Company records an impairment loss equal to the difference. | |
Purchased intangible assets other than goodwill are amortized over their useful lives unless these lives are determined to be indefinite. Purchased intangible assets with definite lives are carried at cost less accumulated amortization. Amortization is computed over the estimated useful lives of the respective assets, generally six months to eight years. | |
The Company may acquire in-process research and development (IPR&D) projects as the result of business combinations. The fair values of the acquired IPR&D projects are determined through estimates and valuation techniques based on the terms and details of the related acquisitions. Upon completion of development for each project, the acquired IPR&D will be amortized over its useful life. The Company assesses the status of each IPR&D project quarterly to evaluate whether the carrying value has been impaired. | |
Valuation of Long-Lived Assets and Certain Identifiable Intangibles | |
The Company evaluates the recoverability of property, plant and equipment and identifiable intangible assets through the performance of periodic reviews to determine whether facts and circumstances exist that would indicate that the carrying amounts of property, plant and equipment and identifiable intangible assets exceed their fair values. If facts and circumstances indicate that the carrying amount of property, plant and equipment and identifiable intangible assets might not be fully recoverable, projected undiscounted net cash flows associated with the related asset or group of assets over their estimated remaining useful life is compared to their respective carrying amounts. In the event that the projected undiscounted cash flows are not sufficient to recover the carrying value of the assets, the assets are written down to their estimated fair values based on the expected discounted future cash flows attributable to the assets. | |
Revenue Recognition | ' |
Revenue Recognition and Accounts Receivable Allowances | |
Revenue from product sales (net of any applicable value added tax) to the Company’s direct customers is recognized upon shipment provided that persuasive evidence of a sales arrangement exists, the price is fixed or determinable, title has transferred, collection of resulting receivables is reasonably assured, there are no customer acceptance requirements and there are no remaining significant obligations. The Company makes estimates of potential future product returns and sales allowances related to current period product revenue. Management analyzes historical returns, changes in customer demand, and acceptance of products when evaluating the adequacy of sales returns and allowances. Estimates made by the Company may differ from actual product returns and sales allowances. These differences may materially impact reported revenue and amounts ultimately collected on accounts receivable. | |
A portion of the Company’s sales is made to distributors under agreements that provide the possibility of certain price adjustment credits, as discussed below, and to return qualifying products for credit, as determined by the Company, in order to reduce the amounts of slow-moving, discontinued or obsolete product from their inventory. These agreements limit such returns to a certain percentage of the value of the Company's shipments to that distributor during the prior quarter. In addition, distributors are allowed to return unsold products if the Company terminates the relationship with the distributor. | |
Certain distributors are granted price adjustment credits related to many of their sales to their customers. Price adjustment credits are granted when a distributor’s standard cost (i.e., the Company’s sales price to the distributor) does not provide the distributor with an appropriate margin on its sales to its customers. As a result, the distributor may request and receive a price adjustment credit from the Company to allow the distributor to earn an appropriate margin on the transaction. Certain distributors are also granted price adjustment credits in the event of a price decrease subsequent to the date the product was shipped and billed to the distributor. Generally, the Company will provide a credit equal to the difference between the price paid by the distributor (less any prior credits on such products) and the new price for the product multiplied by the quantity of such product in the distributor’s inventory at the time of the price decrease. Certain of the Company’s distributor arrangements may allow or require the granting of price concessions below the Company’s cost for a product. | |
Given the uncertainties associated with the levels of returns and other price adjustment credits that will be issued to these distributors, the sales price to distributors is not fixed or determinable until the distributors resell the products to their customers. Therefore, the Company defers revenue recognition from sales to these distributors until the distributors have sold the products to their end customers. | |
Title to the inventory transfers to a distributor at the time of shipment or delivery to the distributor, and payment from the distributor is due in accordance with the Company's standard payment terms. These payment terms are not contingent upon the distributors’ sale of the products to their customers. Upon title transfer to distributors, inventory is reduced for the cost of goods shipped, the deferred distributor margin (sales less cost of sales) is recorded as a liability and an account receivable is recorded. | |
The deferred costs of sales to distributors may be subject to impairment. The Company monitors the level and nature of product returns from distributors as well as the levels of inventory held at distributors. On a quarterly basis, the Company reviews the inventory held at distributors in terms of the Company’s inventory valuation policy and records a charge to cost of goods sold for all known lower of cost or market and excess and obsolescence issues. | |
Accounts Receivable Allowances | ' |
In addition, the Company monitors collectibility of accounts receivable primarily through review of its accounts receivable aging. When facts and circumstances indicate the collection of specific amounts or from specific customers is at risk, the Company assesses the impact on amounts recorded for bad debts and, if necessary, will record a charge in the period such determination is made. | |
Research and Development | ' |
Research and Development | |
Research and development expenditures are charged to operations as incurred. | |
Foreign Currency Translation | ' |
Foreign Currency Translation | |
The Company uses the local currency as its functional currency for all foreign subsidiaries. Translation adjustments, which result from the process of translating foreign currency financial statements into U.S. dollars, are included in the accumulated other comprehensive income component of stockholders’ equity. | |
Advertising Costs | ' |
Advertising Costs | |
The Company expenses advertising costs as incurred and includes these costs in selling, general and administrative expenses in the consolidated statement of operations. | |
Income Taxes | ' |
Income Taxes | |
The Company accounts for income taxes under an asset and liability approach. Deferred income taxes reflect the impact of temporary differences between assets and liabilities recognized for financial reporting purposes and such amounts recognized for income tax reporting purposes. Valuation allowances are provided when necessary to reduce deferred tax assets to an amount that is more likely than not to be realized. Uncertain tax positions are recognized or derecognized based on the threshold and measurement of a tax position taken or expected to be taken in a tax return. U.S. income tax has not been provided on earnings of foreign subsidiaries to the extent that such earnings are considered to be indefinitely reinvested. | |
Stock-based Compensation | ' |
Stock-Based Compensation | |
Stock-based compensation is measured at the grant date, based on the estimated fair value of the award. The Company amortizes the compensation costs on a straight-line basis over the requisite service period of the award, which is generally the award vesting term of four years. The Company estimates the fair value of stock options and stock appreciation rights (SARs) using the Black-Scholes valuation model. The Black-Scholes valuation model requires the Company to estimate key assumptions such as expected term, volatility, risk free interest rates and dividend yield to determine the fair value of an award. The estimates of these key assumptions are based on historical information and judgment regarding market factors and trends. The fair value of the SARs are revalued on a quarterly basis and upon the exercise of a SAR, the expense recognized is adjusted to reflect the difference between the exercise price of the SAR and the closing market price of the Company's common stock on the date of exercise. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Such estimates relate to the useful lives and residual value of fixed assets, the fair value of investments, allowances for doubtful accounts and customer returns, valuation allowances for deferred tax assets, inventory write-downs, potential reserves relating to litigation matters, accrued liabilities, and other reserves. The Company bases its estimates and judgments on its historical experience, knowledge of current conditions and its beliefs of what could occur in the future, given available information. Actual results may differ from those estimates, and such difference, may be material to the financial statements. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The Company’s financial instruments consist primarily of cash and cash equivalents, marketable securities, accounts receivable, accounts payable and bank loans. The Company believes that the carrying amounts of the financial instruments approximate their respective fair values. When there is no readily available market data, the Company may make fair value estimates, which may not necessarily represent the amounts that will be realized in a current or future sale of these assets. | |
Concentration of Credit Risk | ' |
Concentration of Credit Risk | |
The Company operates in one business segment, which is to design, develop, and market high performance DRAM, SRAM, and other semiconductor products. The Company markets and distributes its products on a worldwide basis, primarily to original equipment manufacturers, contract manufacturers, and distributors. The Company performs ongoing credit evaluations of its customers’ financial condition and generally requires no collateral. In fiscal 2014, revenue from the Company’s largest and second largest distributor accounted for approximately 17% and 13%, respectively, of the Company's total net sales. In fiscal 2013, revenue from the Company’s largest and second largest distributor accounted for approximately 17% and 11%, respectively, of the Company's total net sales. In fiscal 2012, revenue from the Company’s largest and second largest distributor, accounted for approximately 14% and 13% of the Company's total net sales. | |
The Company maintains cash, cash equivalents, and short-term investments with various high credit quality financial institutions. The Company’s investment policy is designed to limit exposure to any one institution. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in its investment strategy. The Company is exposed to credit risk in the event of default by the financial institutions or issuers of investments to the extent of the amount recorded on the balance sheet. To date, the Company has not incurred losses related to these investments. | |
Product Warranty and Indemnifications | ' |
Product Warranty and Indemnifications | |
The Company generally warrants its products against defects in materials and workmanship for a period of 12 months. Liability for a stated warranty period is usually limited to replacement of defective items or return of amounts paid. If there is a material increase in the rate of customer claims or the Company’s estimates of probable losses relating to specifically identified warranty exposures are inaccurate, the Company may record a charge against future cost of sales. Warranty expense has historically been immaterial to the Company’s financial statements. | |
The Company may be obligated to indemnify certain customers, distributors, suppliers, and subcontractors for attorney fees and damages and costs awarded against these parties in certain circumstances in which its products are alleged to infringe third party intellectual property rights, including patents, registered trademarks, or copyrights. The terms of the Company’s indemnification obligations are generally perpetual from the effective date of the agreement. In certain cases, there are limits on and exceptions to the Company’s potential liability for indemnification relating to intellectual property infringement claims. In addition, the Company has entered into indemnification agreements with its officers and directors, and the Company’s bylaws provide that indemnification may be provided to the Company’s agents. The Company has directors’ and officers’ insurance pursuant to which the Company may be reimbursed for certain indemnity expenses, subject to the insurers’ reservation of rights. The Company cannot estimate the amount of potential future indemnity expenses that it may be required to make. The amount of available directors’ and officers’ insurance may not be sufficient to cover the Company’s indemnity obligations, which may have a material adverse effect on the Company’s results of operations in future periods. | |
Net Income (Loss) Per Share | ' |
Net Income (Loss) Per Share | |
Basic and diluted net loss per share and basic net income per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted average number of common and dilutive common equivalent shares outstanding, if applicable, during the period. Common equivalent shares consist of the shares issuable upon the assumed exercise of stock options and awards under the treasury stock method. | |
Accounting Pronouncements | ' |
Accounting Pronouncements | |
The following issued accounting pronouncements are not yet effective for the Company as of September 30, 2014. | |
Liabilities | |
In February 2013, the Financial Accounting Standards Board (FASB) issued guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of the guidance is fixed at the reporting date. Examples of obligations include debt arrangements, other contractual obligations, and settled litigation and judicial rulings. The guidance requires an entity to measure such obligations as the sum of the amount that the reporting entity agreed to pay on the basis of its arrangement among its co-obligors in addition to amounts the reporting entity expects to pay on behalf of its co-obligors. The guidance becomes effective for the Company beginning in the first quarter of fiscal 2015 and is not expected to have a material impact on the Company's consolidated financial statements. | |
Foreign Currency Matters | |
In March 2013, FASB issued guidance on when foreign currency translation adjustments should be released to net income. When a parent entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity, the parent is required to release any related cumulative translation adjustment into net income. Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. The guidance becomes effective for the Company beginning in the first quarter of fiscal 2015 and is not expected to have a material impact on the Company's consolidated financial statements. | |
Revenue from Contracts with Customers | |
In May 2014, FASB amended the existing accounting standards for revenue recognition. The new guidance establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. The guidance becomes effective for the Company beginning in the first quarter of fiscal 2018. Early adoption is not permitted. The new revenue recognition standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company has not yet selected a transition method nor has the Company determined the impact of adopting the new revenue recognition standard on its consolidated financial statements. | |
Reclassifications | ' |
Reclassifications | |
Certain reclassifications have been made to prior year balances in order to conform to the current year’s presentation. |
Organization_and_Significant_A2
Organization and Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||
Schedule of Accounts Receivable Allowance for Doubtful Accounts | ' | |||||||||||||||
The following table sets forth activity in accounts receivable allowance for doubtful accounts for the years ended September 30, 2014, 2013 and 2012. | ||||||||||||||||
Description | Balance at | Adjustments to | Deductions(2) | Balance | ||||||||||||
Beginning | Costs and | at End | ||||||||||||||
of Year | Expenses(1) | of Year | ||||||||||||||
(in thousands) | ||||||||||||||||
Accounts receivable—Allowance for doubtful accounts: | ||||||||||||||||
2012 | $ | 496 | $ | (2 | ) | $ | 14 | $ | 508 | |||||||
2013 | $ | 508 | $ | 19 | $ | (155 | ) | $ | 372 | |||||||
2014 | $ | 372 | $ | (79 | ) | $ | (272 | ) | $ | 21 | ||||||
________________________ | ||||||||||||||||
-1 | Includes increases/(decreases) charged or credited to costs and expenses. | |||||||||||||||
-2 | Uncollectible accounts written off, net of recoveries. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Assets Measured on Recurring Basis | ' | |||||||||||||||
The following tables represent the Company’s fair value hierarchy for financial assets measured at fair value on a recurring basis: | ||||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | |||||||||||||||
(Level 1) | (Level 1) | |||||||||||||||
(In thousands) | ||||||||||||||||
Money market instruments (1) | $ | 22,519 | $ | 19,318 | ||||||||||||
Semiconductor Manufacturing International Corp. | ||||||||||||||||
(SMIC) common stock (2) | — | 1,793 | ||||||||||||||
Nanya Technology Corporation (Nanya) common stock (2) | — | 16,624 | ||||||||||||||
$ | 22,519 | $ | 37,735 | |||||||||||||
-1 | Included in cash and cash equivalents | |||||||||||||||
-2 | Included in short-term investments | |||||||||||||||
Available-for-sale Securities | ' | |||||||||||||||
Available-for-sale marketable securities consisted of the following: | ||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Holding | Holding | |||||||||||||||
Gains | Losses | |||||||||||||||
(in thousands) | ||||||||||||||||
September 30, 2014 | ||||||||||||||||
Money market instruments | $ | 22,519 | $ | — | $ | — | $ | 22,519 | ||||||||
Certificates of deposit | 20,679 | — | — | 20,679 | ||||||||||||
Total | 43,198 | — | — | 43,198 | ||||||||||||
Less: Amounts included in cash, cash | ||||||||||||||||
equivalents and restricted cash | (41,721 | ) | — | — | (41,721 | ) | ||||||||||
$ | 1,477 | $ | — | $ | — | $ | 1,477 | |||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Holding | Holding | |||||||||||||||
Gains | Losses | |||||||||||||||
(in thousands) | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Money market instruments | $ | 19,318 | $ | — | $ | — | $ | 19,318 | ||||||||
Certificates of deposit | 15,595 | — | — | 15,595 | ||||||||||||
SMIC common stock | 1,099 | 694 | — | 1,793 | ||||||||||||
Nanya common stock | 7,100 | 9,524 | — | 16,624 | ||||||||||||
Total | 43,112 | 10,218 | — | 53,330 | ||||||||||||
Less: Amounts included in cash and cash | ||||||||||||||||
equivalents | (31,772 | ) | — | — | (31,772 | ) | ||||||||||
$ | 11,340 | $ | 10,218 | $ | — | $ | 21,558 | |||||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of Inventory, Current | ' | |||||||
Inventories consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Purchased components | $ | 21,677 | $ | 14,039 | ||||
Work-in-process | 27,058 | 20,960 | ||||||
Finished goods | 36,358 | 33,470 | ||||||
$ | 85,093 | $ | 68,469 | |||||
Other_Assets_Tables
Other Assets (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Other Assets [Abstract] | ' | |||||||
Schedule of Other Assets | ' | |||||||
Other assets consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Restricted assets | $ | 499 | $ | 811 | ||||
Other investment | 1,436 | 1,684 | ||||||
Nanya private placement shares | 10,645 | 10,920 | ||||||
Technology licenses, net | 10,644 | 2,002 | ||||||
Other | 1,145 | 1,162 | ||||||
$ | 24,369 | $ | 16,579 | |||||
Property_and_Equipment_net_Tab
Property and Equipment, net (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
Property and equipment, net consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Machinery and equipment | $ | 66,629 | $ | 56,144 | ||||
Furniture and fixtures | 3,708 | 3,717 | ||||||
Land, buildings and improvements | 48,891 | 40,665 | ||||||
119,228 | 100,526 | |||||||
Less accumulated depreciation and amortization | (60,381 | ) | (54,022 | ) | ||||
$ | 58,847 | $ | 46,504 | |||||
Schedule of Leased Assets | ' | |||||||
The assets leased consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Buildings and improvements | $ | 7,406 | $ | 9,441 | ||||
Less accumulated depreciation | (4,623 | ) | (5,650 | ) | ||||
$ | 2,783 | $ | 3,791 | |||||
Purchased_Intangible_Assets_an1
Purchased Intangible Assets and Goodwill (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Schedule of Finite-Lived Intangible Assets by Major Class | ' | |||||||||||
The following tables present details of the Company’s total purchased intangible assets: | ||||||||||||
Gross | Accumulated | Net | ||||||||||
Amortization | ||||||||||||
(in thousands) | ||||||||||||
September 30, 2014 | ||||||||||||
Developed technology | $ | 5,330 | $ | 2,584 | $ | 2,746 | ||||||
Customer relationships | 3,340 | 1,137 | 2,203 | |||||||||
Other | 450 | 306 | 144 | |||||||||
Total | $ | 9,120 | $ | 4,027 | $ | 5,093 | ||||||
September 30, 2013 | ||||||||||||
Developed technology | $ | 5,330 | $ | 1,758 | $ | 3,572 | ||||||
Customer relationships | 3,340 | 580 | 2,760 | |||||||||
Other | 450 | 156 | 294 | |||||||||
Total | $ | 9,120 | $ | 2,494 | $ | 6,626 | ||||||
Schedule of amortization expense of purchased intangible assets as reported in the consolidated statements of income | ' | |||||||||||
The following table presents details of the amortization expense of purchased intangible assets as reported in the Consolidated Statements of Operations: | ||||||||||||
Years Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Reported as: | ||||||||||||
Cost of sales | $ | 826 | $ | 879 | $ | 984 | ||||||
Operating expenses | 707 | 721 | 864 | |||||||||
Total | $ | 1,533 | $ | 1,600 | $ | 1,848 | ||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | ' | |||||||||||
The following table presents the estimated future amortization expense of the Company’s purchased intangible assets at September 30, 2014 (in thousands). The weighted-average remaining amortization period for developed technology, customer relationships and other intangibles is 4.04 years, 3.96 years and 0.96 years, respectively. If the Company acquires additional purchased intangible assets in the future, its future amortization may be increased by those assets. | ||||||||||||
Fiscal year | ||||||||||||
2015 | $ | 1,382 | ||||||||||
2016 | 1,238 | |||||||||||
2017 | 1,239 | |||||||||||
2018 | 1,195 | |||||||||||
2019 | 39 | |||||||||||
Thereafter | — | |||||||||||
Total | $ | 5,093 | ||||||||||
Schedule of Goodwill | ' | |||||||||||
The following table provides details regarding the changes in the Company's goodwill: | ||||||||||||
(in thousands) | ||||||||||||
Balance at September 30, 2011 | $ | 9,463 | ||||||||||
Addition arising from acquisition of Chingis | 3,976 | |||||||||||
Impairment | (4,261 | ) | ||||||||||
Balance at September 30, 2012 | 9,178 | |||||||||||
Impairment | — | |||||||||||
Balance at September 30, 2013 | 9,178 | |||||||||||
Impairment | — | |||||||||||
Balance at September 30, 2014 | $ | 9,178 | ||||||||||
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Debt Disclosure [Abstract] | ' | |||
Schedule of Maturities of Long-term Debt | ' | |||
Principal payments due under the Loan are as follows (in thousands): | ||||
Fiscal year | ||||
2015 | $ | 195 | ||
2016 | 195 | |||
2017 | 195 | |||
2018 | 3,949 | |||
2019 | — | |||
Thereafter | — | |||
Total | $ | 4,534 | ||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
Schedule of Accrued Liabilities | ' | |||||||
Accrued expenses consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Deferred distributor margin | $ | 3,607 | $ | 2,301 | ||||
Income taxes payable | 4,549 | 2,690 | ||||||
Other | 3,209 | 2,366 | ||||||
$ | 11,365 | $ | 7,357 | |||||
Other long-term liabilities consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Pension liability | $ | 4,076 | $ | 3,790 | ||||
Non-current deferred tax liabilities | 866 | 4,479 | ||||||
Other | 514 | 443 | ||||||
$ | 5,456 | $ | 8,712 | |||||
Other_Longterm_Liabilities_Tab
Other Long-term Liabilities (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Schedule of Accrued Liabilities | ' | |||||||
Accrued expenses consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Deferred distributor margin | $ | 3,607 | $ | 2,301 | ||||
Income taxes payable | 4,549 | 2,690 | ||||||
Other | 3,209 | 2,366 | ||||||
$ | 11,365 | $ | 7,357 | |||||
Other long-term liabilities consisted of the following at September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Pension liability | $ | 4,076 | $ | 3,790 | ||||
Non-current deferred tax liabilities | 866 | 4,479 | ||||||
Other | 514 | 443 | ||||||
$ | 5,456 | $ | 8,712 | |||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Equity [Abstract] | ' | |||||||
Schedule of Common Stock reserved for future issuance | ' | |||||||
As of September 30, 2014, shares of common stock were reserved for future issuance as follows: | ||||||||
Common shares reserved under Employee Stock Purchase Plan | 332,000 | |||||||
Common shares reserved under stock-based benefit plans | 6,305,000 | |||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | |||||||
The components of accumulated other comprehensive income (loss), net of tax, were as follows at September 30: | ||||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Accumulated foreign currency translation adjustments | $ | 1,051 | $ | 4,787 | ||||
Accumulated net unrealized gain on SMIC (net of tax of $0 in 2014 and $275 in 2013) | — | 419 | ||||||
Accumulated net unrealized gain on Nanya (net of tax of $0 in 2014 and $3,565 in 2013) | — | 5,959 | ||||||
Accumulated net retirement plan transition asset (net of tax of $124 in 2014 and $148 in 2013) | 8 | 47 | ||||||
Accumulated net retirement plan actuarial losses (net of tax of $477 in 2014 and $470 in 2013) | (2,103 | ) | (2,091 | ) | ||||
Total accumulated other comprehensive income (loss) | $ | (1,044 | ) | $ | 9,121 | |||
The following table summarizes the amounts recorded in accumulated other comprehensive income (loss) before taxes, as of September 30: | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Net transition asset | $ | 132 | $ | 195 | ||||
Net actuarial loss | (2,580 | ) | (2,561 | ) | ||||
Defined benefit plans, net | $ | (2,448 | ) | $ | (2,366 | ) |
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | ' | |||||||||||||||||||||||
The table below outlines the effects of total stock-based compensation. | ||||||||||||||||||||||||
Years Ended September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Stock-based compensation | ||||||||||||||||||||||||
Cost of sales | $ | 179 | $ | 179 | $ | 135 | ||||||||||||||||||
Research and development | 2,478 | 2,310 | 1,461 | |||||||||||||||||||||
Selling, general and administrative | 3,435 | 3,452 | 3,435 | |||||||||||||||||||||
Total stock-based compensation | 6,092 | 5,941 | 5,031 | |||||||||||||||||||||
Tax effect on stock-based compensation | (1,293 | ) | (1,089 | ) | — | |||||||||||||||||||
Net effect on net income (loss) | $ | 4,799 | $ | 4,852 | $ | 5,031 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | |||||||||||||||||||||||
The estimated values of stock option grants and stock purchase rights, as well as the weighted average assumptions used in calculating these values during the fiscal years ended September 30, 2014, 2013 and 2012, were based on estimates at the date of grant as follows: | ||||||||||||||||||||||||
Stock Options | ESPP | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Expected life (years) | 4.41 | 4.45 | 4.4 | 0.49 | 0.5 | 0.5 | ||||||||||||||||||
Expected volatility | 50 | % | 58 | % | 60 | % | 29 | % | 31 | % | 42 | % | ||||||||||||
Risk-free interest rate | 1.06 | % | 0.57 | % | 0.61 | % | 0.25 | % | 0.09 | % | 0.11 | % | ||||||||||||
Dividend yield | 0.06 | % | — | % | — | % | 0.75 | % | — | % | — | % | ||||||||||||
Weighted-average fair value of grants | $ | 4.76 | $ | 4.37 | $ | 4.7 | $ | 2.98 | $ | 2.44 | $ | 2.66 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable | ' | |||||||||||||||||||||||
The following table is a summary of the Company’s stock option activity and related information for the last three fiscal years under the 1989 Stock Plan, 1996 Nonstatutory Stock Plan, 1998 Stock Plan, 1995 Director Stock Option Plan and the 2007 Plan (stock option amounts and aggregate intrinsic value are presented in thousands): | ||||||||||||||||||||||||
Outstanding Options | ||||||||||||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | |||||||||||||||||||||
Shares | Average | Average | Intrinsic Value | |||||||||||||||||||||
Exercise | Remaining | |||||||||||||||||||||||
Price | Contractual | |||||||||||||||||||||||
Term (in | ||||||||||||||||||||||||
years) | ||||||||||||||||||||||||
Balance at September 30, 2011 | 4,851 | $ | 5.57 | |||||||||||||||||||||
Options Granted | 1,608 | $ | 9.91 | |||||||||||||||||||||
Options Exercised | (857 | ) | $ | 5.18 | ||||||||||||||||||||
Options Cancelled/Expired | (125 | ) | $ | 9.68 | ||||||||||||||||||||
Balance at September 30, 2012 | 5,477 | $ | 6.81 | |||||||||||||||||||||
Options Granted | 1,106 | $ | 9.31 | |||||||||||||||||||||
Options Exercised | (1,116 | ) | $ | 5.61 | ||||||||||||||||||||
Options Cancelled/Expired | (116 | ) | $ | 9.83 | ||||||||||||||||||||
Balance at September 30, 2013 | 5,351 | $ | 7.51 | |||||||||||||||||||||
Options Granted | 500 | $ | 11.48 | |||||||||||||||||||||
Options Exercised | (1,460 | ) | $ | 6.88 | ||||||||||||||||||||
Options Cancelled/Expired | (151 | ) | $ | 10.32 | ||||||||||||||||||||
Balance at September 30, 2014 | 4,240 | $ | 8.1 | 3.77 | $ | 23,972 | ||||||||||||||||||
Exercisable at September 30, 2014 | 2,788 | $ | 7.06 | 3.05 | $ | 18,624 | ||||||||||||||||||
Vested and expected to vest after September 30, 2014 | 4,179 | $ | 8.06 | 3.74 | $ | 23,765 | ||||||||||||||||||
Options exercisable at: | ||||||||||||||||||||||||
September 30, 2012 | 3,072 | $ | 5.42 | 3.28 | ||||||||||||||||||||
September 30, 2013 | 3,173 | $ | 6.25 | 3.23 | ||||||||||||||||||||
September 30, 2014 | 2,788 | $ | 7.06 | 3.05 | ||||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | ' | |||||||||||||||||||||||
The following table summarizes information about options outstanding and exercisable at September 30, 2014: | ||||||||||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||||||||||
Range of | Number of | Wtd. Average | Wtd. Average | Number of | Wtd. Average | |||||||||||||||||||
Exercise | Options | Remaining | Exercise Price | Options | Exercise Price | |||||||||||||||||||
Prices | Outstanding | Contractual Life | Exercisable | |||||||||||||||||||||
(in thousands) | (in years) | (in thousands) | ||||||||||||||||||||||
$ | 1.65 | - | $ | 4.34 | 888 | 1.73 | $ | 3.38 | 888 | $ | 3.38 | |||||||||||||
$ | 4.35 | - | 9.07 | 855 | 2.48 | $ | 7.35 | 804 | $ | 7.31 | ||||||||||||||
$ | 9.08 | - | 9.36 | 978 | 4.87 | $ | 9.19 | 447 | $ | 9.22 | ||||||||||||||
$ | 9.37 | - | 10.64 | 891 | 4.35 | $ | 10.01 | 485 | $ | 10.02 | ||||||||||||||
$ | 10.65 | - | 15.53 | 628 | 5.86 | $ | 11.35 | 164 | $ | 11.08 | ||||||||||||||
$ | 1.65 | - | $ | 15.53 | 4,240 | 3.77 | $ | 8.1 | 2,788 | $ | 7.06 | |||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | ' | |||||||||||||||||||||||
The following table is a summary of the Company’s RSU activity and related information under the 2007 Plan (RSU amounts and aggregate intrinsic value are presented in thousands): | ||||||||||||||||||||||||
Number of | Weighted- | Aggregate | ||||||||||||||||||||||
Shares | Average | Intrinsic Value | ||||||||||||||||||||||
Grant-Date | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
Outstanding awards at September 30, 2011 | 382 | $ | 7.84 | |||||||||||||||||||||
Granted | 106 | $ | 9.42 | |||||||||||||||||||||
Vested | (165 | ) | $ | 7.73 | $ | 1,563 | ||||||||||||||||||
Forfeited | — | $ | 10.64 | |||||||||||||||||||||
Outstanding awards at September 30, 2012 | 323 | $ | 8.41 | |||||||||||||||||||||
Granted | 121 | $ | 9.14 | |||||||||||||||||||||
Vested | (172 | ) | $ | 7.94 | $ | 1,612 | ||||||||||||||||||
Forfeited | (3 | ) | $ | 10.64 | ||||||||||||||||||||
Outstanding awards at September 30, 2013 | 269 | $ | 9.02 | |||||||||||||||||||||
Granted | 88 | $ | 11.62 | |||||||||||||||||||||
Vested | (94 | ) | $ | 8.94 | $ | 1,096 | ||||||||||||||||||
Forfeited | (1 | ) | $ | 10.64 | ||||||||||||||||||||
Outstanding awards at September 30, 2014 | 262 | $ | 9.91 | $ | 3,594 | |||||||||||||||||||
Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity | ' | |||||||||||||||||||||||
A summary of the Company’s SAR activity and related information under the 2007 Plan follows (number of shares and aggregate intrinsic value are presented in thousands): | ||||||||||||||||||||||||
Number of | Weighted-Average | Weighted-Average | Aggregate | |||||||||||||||||||||
Shares | Exercise Price | Remaining | Intrinsic Value | |||||||||||||||||||||
Contractual Term in Years | ||||||||||||||||||||||||
Balance at September 30, 2013 | — | $ | — | |||||||||||||||||||||
Granted | 779 | $ | 10.96 | |||||||||||||||||||||
Exercised | (9 | ) | $ | 10.96 | $ | 38 | ||||||||||||||||||
Cancelled/Expired | (23 | ) | $ | 10.96 | ||||||||||||||||||||
Balance at September 30, 2014 | 747 | $ | 10.96 | 6.1 | $ | 2,077 | ||||||||||||||||||
Exercisable at September 30, 2014 | 82 | $ | 10.96 | 6.09 | $ | 228 | ||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Income before Income Tax, Domestic and Foreign | ' | |||||||||||
Income before provision for income taxes consisted of the following: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
United States | $ | 4,126 | $ | 4,542 | $ | 9,723 | ||||||
International | 29,001 | 25,479 | (5,816 | ) | ||||||||
Total pre-tax income | $ | 33,127 | $ | 30,021 | $ | 3,907 | ||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | |||||||||||
The provision for income taxes consisted of the following for the years ended September 30: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Current: | ||||||||||||
Federal | $ | 2,710 | $ | 2 | $ | 235 | ||||||
State | 124 | 86 | 141 | |||||||||
Foreign | 4,565 | 2,902 | 1,120 | |||||||||
Total current | 7,399 | 2,990 | 1,496 | |||||||||
Deferred: | ||||||||||||
Federal | 1,091 | 7,596 | 5,470 | |||||||||
State | 933 | 12 | 95 | |||||||||
Foreign | 215 | 1,679 | (549 | ) | ||||||||
Total deferred | 2,239 | 9,287 | 5,016 | |||||||||
Total provision | $ | 9,638 | $ | 12,277 | $ | 6,512 | ||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | |||||||||||
The Company’s provision for income taxes differs from the amount computed by applying the U.S. federal statutory rate (35%) to income before taxes and minority interest as follows for the years ended September 30: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Income taxes computed at the U.S. federal statutory rate | $ | 11,595 | $ | 10,507 | $ | 1,367 | ||||||
State income taxes | 1,057 | 98 | 69 | |||||||||
Research credits | (41 | ) | (89 | ) | 757 | |||||||
Foreign losses not benefited | — | — | 1,377 | |||||||||
Foreign income inclusion, net of credit | 1,765 | 6,469 | — | |||||||||
Non-deductible stock compensation | 1,126 | 991 | 672 | |||||||||
Non-deductible impairment charges | — | — | 3,321 | |||||||||
Valuation allowance changes | (815 | ) | (1,334 | ) | 1,384 | |||||||
Foreign taxes | (5,371 | ) | (4,334 | ) | (2,523 | ) | ||||||
Other | 322 | (31 | ) | 88 | ||||||||
Total provision | $ | 9,638 | $ | 12,277 | $ | 6,512 | ||||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||||||
Significant components of deferred taxes consisted of the following at September 30: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
Depreciation | $ | — | $ | 217 | ||||||||
Inventory and other valuation reserves | 457 | 532 | ||||||||||
Accrued expenses | 5,745 | 5,312 | ||||||||||
Federal, state and foreign credit carryforwards | 9,804 | 4,310 | ||||||||||
Federal, state and foreign net operating loss carryforwards | 12,835 | 20,388 | ||||||||||
Non-deductible stock options | 3,106 | 3,064 | ||||||||||
Other, net | 1,600 | 38 | ||||||||||
Subtotal | 33,547 | 33,861 | ||||||||||
Valuation allowance | (23,287 | ) | (24,928 | ) | ||||||||
Total deferred tax assets | $ | 10,260 | $ | 8,933 | ||||||||
Deferred tax liabilities: | ||||||||||||
Purchased intangibles | (866 | ) | (1,144 | ) | ||||||||
Net deferred tax assets | $ | 9,394 | $ | 7,789 | ||||||||
Reported as: | ||||||||||||
Current deferred tax assets | $ | 1,868 | $ | 2,326 | ||||||||
Non-current deferred tax assets | 8,392 | 9,942 | ||||||||||
Non-current deferred tax liabilities | (866 | ) | (4,479 | ) | ||||||||
Net deferred tax assets | $ | 9,394 | $ | 7,789 | ||||||||
Schedule of Unrecognized Tax Benefits Roll Forward | ' | |||||||||||
A reconciliation of the beginning and ending amount of the consolidated liability for unrecognized income tax benefits during the tax year ended September 30 is as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Balance at the beginning of the year | $ | 3,052 | $ | 2,906 | $ | 4,533 | ||||||
Increases related to current year positions | 90 | 108 | 68 | |||||||||
Increases (decreases) related to prior year positions | 78 | 38 | (1,695 | ) | ||||||||
Balance at the end of the year | $ | 3,220 | $ | 3,052 | $ | 2,906 | ||||||
Retirement_Plan_Tables
Retirement Plan (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||
Schedule of Defined Benefit Plans Disclosures | ' | |||||||||||
The changes in the benefit obligation and plan assets for the Benefit Plan described above were as follows: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Change in projected benefit obligation: | ||||||||||||
Beginning benefit obligation | $ | 6,390 | $ | 6,047 | ||||||||
Service cost | 204 | 200 | ||||||||||
Interest cost | 124 | 119 | ||||||||||
Actuarial loss | 199 | 90 | ||||||||||
Currency exchange rate changes | (161 | ) | (66 | ) | ||||||||
Ending projected benefit obligation | $ | 6,756 | $ | 6,390 | ||||||||
Schedule of Changes in Fair Value of Plan Assets | ' | |||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Change in fair value plan assets: | ||||||||||||
Beginning fair value of plan assets | $ | 2,599 | $ | 2,510 | ||||||||
Actual return on plan assets | 60 | 32 | ||||||||||
Employer contributions | 86 | 86 | ||||||||||
Currency exchange rate changes | (65 | ) | (29 | ) | ||||||||
Ending fair value of plan assets | $ | 2,680 | $ | 2,599 | ||||||||
Schedule of Amounts Recognized in Balance Sheet | ' | |||||||||||
The following table summarizes the amounts recognized on the consolidated balance sheet as of September 30: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Other long-term liabilities | $ | 4,076 | $ | 3,790 | ||||||||
Accumulated other comprehensive income (net of tax of $353 in 2014 and $322 in 2013) | 2,095 | 2,044 | ||||||||||
Amount recognized | $ | 6,171 | $ | 5,834 | ||||||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||
The components of accumulated other comprehensive income (loss), net of tax, were as follows at September 30: | ||||||||||||
2014 | 2013 | |||||||||||
(In thousands) | ||||||||||||
Accumulated foreign currency translation adjustments | $ | 1,051 | $ | 4,787 | ||||||||
Accumulated net unrealized gain on SMIC (net of tax of $0 in 2014 and $275 in 2013) | — | 419 | ||||||||||
Accumulated net unrealized gain on Nanya (net of tax of $0 in 2014 and $3,565 in 2013) | — | 5,959 | ||||||||||
Accumulated net retirement plan transition asset (net of tax of $124 in 2014 and $148 in 2013) | 8 | 47 | ||||||||||
Accumulated net retirement plan actuarial losses (net of tax of $477 in 2014 and $470 in 2013) | (2,103 | ) | (2,091 | ) | ||||||||
Total accumulated other comprehensive income (loss) | $ | (1,044 | ) | $ | 9,121 | |||||||
The following table summarizes the amounts recorded in accumulated other comprehensive income (loss) before taxes, as of September 30: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Net transition asset | $ | 132 | $ | 195 | ||||||||
Net actuarial loss | (2,580 | ) | (2,561 | ) | ||||||||
Defined benefit plans, net | $ | (2,448 | ) | $ | (2,366 | ) | ||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | ' | |||||||||||
The following table summarizes the accumulated benefit obligation as of September 30: | ||||||||||||
2014 | 2013 | |||||||||||
(in thousands) | ||||||||||||
Accumulated benefit obligation | $ | 4,308 | $ | 3,940 | ||||||||
Schedule of Assumptions Used | ' | |||||||||||
Weighted-average actuarial assumptions used to determine benefit obligations and plan assets for the Benefit Plan at September 30 were as follows: | ||||||||||||
2014 | 2013 | |||||||||||
Discount rate | 1.90-2.00% | 1.90-2.00% | ||||||||||
Expected return on plan assets | 1.90-2.00% | 1.90-2.00% | ||||||||||
Rate of compensation increase | 3.00-4.00% | 3.00-4.00% | ||||||||||
Schedule of Net Benefit Costs | ' | |||||||||||
The net periodic benefit cost for the Benefit Plan included the following components at September 30: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Service cost | $ | 204 | $ | 200 | $ | 195 | ||||||
Interest cost | 124 | 119 | 108 | |||||||||
Expected return on plan assets | (51 | ) | (50 | ) | (44 | ) | ||||||
Amortization of deferred amount | 50 | 40 | 36 | |||||||||
Net periodic benefit cost | $ | 327 | $ | 309 | $ | 295 | ||||||
Schedule of Expected Benefit Payments | ' | |||||||||||
The following table reflects the benefit payments, which include the amount that will be funded from retiree contributions that the Company expects to pay in the periods noted (in thousands): | ||||||||||||
Fiscal year ending: | ||||||||||||
2015 | $ | 941 | ||||||||||
2016 | $ | 150 | ||||||||||
2017 | $ | 69 | ||||||||||
2018 | $ | 513 | ||||||||||
2019 | $ | 407 | ||||||||||
2020-2024 | $ | 3,266 | ||||||||||
Per_Share_Data_Tables
Per Share Data (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | |||||||||||
The calculations of basic and diluted net income (loss) per share for each of the three years ended September 30, 2014, 2013 and 2012 are as follows: | ||||||||||||
Years Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands, except per share data) | ||||||||||||
Numerator for basic and diluted net income (loss) per share: | ||||||||||||
Net income (loss) | $ | 23,265 | $ | 17,548 | $ | (2,718 | ) | |||||
Denominator for basic net income (loss) per share: | ||||||||||||
Weighted average common shares outstanding | 30,037 | 28,223 | 27,120 | |||||||||
Dilutive effect of stock options and awards | 1,586 | 1,471 | — | |||||||||
Denominator for diluted net income (loss) per share | 31,623 | 29,694 | 27,120 | |||||||||
Basic net income (loss) per share | $ | 0.77 | $ | 0.62 | $ | (0.10 | ) | |||||
Diluted net income (loss) per share | $ | 0.74 | $ | 0.59 | $ | (0.10 | ) | |||||
Geographic_and_Segment_Informa1
Geographic and Segment Information (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | ' | |||||||||||
The following table summarizes the Company’s operations in different geographic areas: | ||||||||||||
Years Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Net Sales | ||||||||||||
United States | $ | 38,293 | $ | 37,954 | $ | 42,527 | ||||||
China | 43,422 | 32,170 | 17,913 | |||||||||
Hong Kong | 60,534 | 64,193 | 57,971 | |||||||||
Taiwan | 46,968 | 41,204 | 26,107 | |||||||||
Japan | 21,944 | 30,102 | 29,664 | |||||||||
Other Asia Pacific countries | 40,364 | 37,897 | 32,987 | |||||||||
Europe | 75,687 | 62,065 | 57,295 | |||||||||
Other | 1,765 | 1,985 | 1,486 | |||||||||
Total net sales | $ | 328,977 | $ | 307,570 | $ | 265,950 | ||||||
Long-lived assets | ||||||||||||
United States | $ | 11,174 | $ | 9,696 | $ | 440 | ||||||
Hong Kong | 14 | 7 | 7 | |||||||||
China | 12,908 | 3,424 | 558 | |||||||||
Taiwan | 34,751 | 33,377 | 28,281 | |||||||||
Total long-lived assets | $ | 58,847 | $ | 46,504 | $ | 29,286 | ||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Contractual Obligation, Fiscal Year Maturity Schedule | ' | |||
Minimum rental commitments under these leases are as follows (in thousands): | ||||
Fiscal year ending: | ||||
2015 | $ | 1,116 | ||
2016 | 736 | |||
2017 | 154 | |||
2018 | 83 | |||
2019 | 50 | |||
Thereafter | — | |||
Total minimum rental commitments | $ | 2,139 | ||
Acquisition_of_Chingis_Tables
Acquisition of Chingis (Tables) (Chingis) | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Chingis | ' | |||
Business Acquisition [Line Items] | ' | |||
Schedule of Purchase Price Allocation | ' | |||
The purchase price allocation is as follows (in thousands): | ||||
Cash and cash equivalents | $ | 18,622 | ||
Accounts receivable | 6,546 | |||
Inventories | 5,229 | |||
Property, equipment and leasehold improvements | 117 | |||
Other current and other assets | 844 | |||
Intangible assets: | ||||
In-process technology | 400 | |||
Developed technology | 3,690 | |||
Customer relationships | 3,340 | |||
Other intangibles | 450 | |||
Total identifiable assets acquired | 39,238 | |||
Current liabilities and other liabilities | (7,946 | ) | ||
Deferred tax liability | (1,440 | ) | ||
Total liabilities assumed | (9,386 | ) | ||
Net identifiable assets acquired | 29,852 | |||
Noncontrolling interest | (1,996 | ) | ||
Goodwill | 3,976 | |||
Net assets acquired | $ | 31,832 | ||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information | ' | ||||||||||||||||
The following tables show the Company's quarterly results of operations for each of the years ended September 30, 2014 and 2013. | |||||||||||||||||
Fiscal 2014 | Fourth | Third | Second | First | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
(in thousands, except per share data) | |||||||||||||||||
Net sales | $ | 84,152 | $ | 84,834 | $ | 80,868 | $ | 79,123 | |||||||||
Gross profit | $ | 29,681 | $ | 29,296 | $ | 27,750 | $ | 25,529 | |||||||||
Operating income | $ | 5,351 | $ | 6,376 | $ | 5,454 | $ | 3,537 | |||||||||
Consolidated net income | $ | 2,858 | $ | 6,227 | -1 | $ | 8,958 | -2 | $ | 5,446 | -3 | ||||||
Net income attributable to ISSI | $ | 2,832 | $ | 6,186 | -1 | $ | 8,812 | -2 | $ | 5,435 | -3 | ||||||
Basic net income per share | $ | 0.09 | $ | 0.2 | $ | 0.3 | $ | 0.19 | |||||||||
Diluted net income per share | $ | 0.09 | $ | 0.19 | $ | 0.28 | $ | 0.18 | |||||||||
Dividends per common share paid | $ | 0.06 | $ | — | $ | — | $ | — | |||||||||
Market price range common stock: | |||||||||||||||||
High | $ | 15.8 | $ | 15.95 | $ | 15.6 | $ | 12.43 | |||||||||
Low | $ | 13.62 | $ | 12.78 | $ | 10.8 | $ | 10.52 | |||||||||
Fiscal 2013 | |||||||||||||||||
Net sales | $ | 78,392 | $ | 77,788 | $ | 74,991 | $ | 76,399 | |||||||||
Gross profit | $ | 25,934 | $ | 26,047 | $ | 24,989 | $ | 24,491 | |||||||||
Operating income | $ | 4,693 | $ | 4,635 | $ | 3,951 | $ | 3,379 | |||||||||
Consolidated net income | $ | 4,730 | -4 | $ | 7,246 | -5 | $ | 3,280 | -6 | $ | 2,488 | ||||||
Net income attributable to ISSI | $ | 4,698 | -4 | $ | 7,064 | -5 | $ | 3,287 | -6 | $ | 2,499 | ||||||
Basic net income per share | $ | 0.16 | $ | 0.25 | $ | 0.12 | $ | 0.09 | |||||||||
Diluted net income per share | $ | 0.15 | $ | 0.24 | $ | 0.11 | $ | 0.09 | |||||||||
Market price range common stock: | |||||||||||||||||
High | $ | 11.99 | $ | 11.31 | $ | 9.92 | $ | 9.73 | |||||||||
Low | $ | 9.99 | $ | 8.31 | $ | 8.33 | $ | 8.18 | |||||||||
________________________ | |||||||||||||||||
-1 | In the June 2014 quarter, the Company realized a gain of $2.1 million from the sale of its remaining freely-tradeable shares of Nanya common stock. | ||||||||||||||||
-2 | In the March 2014 quarter, the Company realized a gain from the sale of investments of $6.0 million including $3.9 million from the sale of a portion of its shares of Nanya common stock and $2.1 million from the sale of its remaining shares of SMIC common stock. | ||||||||||||||||
-3 | In the December 2013 quarter, the Company realized a gain of $3.1 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
-4 | In the September 2013 quarter, the Company realized a gain of $2.9 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
-5 | In the June 2013 quarter, the Company realized a gain from the sale of investments of $7.3 million including $7.0 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
-6 | In the March 2013 quarter, the Company realized a gain of $2.1 million from the sale of a portion of its shares of Nanya common stock. |
Organization_and_Significant_A3
Organization and Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Cash and cash equivalents maturity period | '90 days | ' | ' |
Inventory aging period | '1 year | ' | ' |
Option vesting term | '4 years | ' | ' |
Business segment | 1 | ' | ' |
Period of product warranty | '12 months | ' | ' |
Largest Distributor | Sales Revenue, Goods, Net | Customer Concentration Risk | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Concentration Risk, largest customers (percentage) | 17.00% | 17.00% | 14.00% |
Second Largest Distributor | Sales Revenue, Goods, Net | Customer Concentration Risk | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Concentration Risk, largest customers (percentage) | 13.00% | 11.00% | 13.00% |
Selling, general and administrative | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Advertising costs | 84 | 79 | 59 |
Minimum | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Estimated useful lives of purchased definite lived intangible assets | '6 months | ' | ' |
Maximum | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Estimated useful lives of purchased definite lived intangible assets | '8 years | ' | ' |
Property and equipment | Minimum | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Property, equipment and leasehold improvements useful life | '2 years | ' | ' |
Property and equipment | Maximum | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Property, equipment and leasehold improvements useful life | '10 years | ' | ' |
Buildings and leasehold improvements | Minimum | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Property, equipment and leasehold improvements useful life | '30 years | ' | ' |
Buildings and leasehold improvements | Maximum | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Property, equipment and leasehold improvements useful life | '50 years | ' | ' |
Wafer and Die Bank | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' |
Inventory aging period | '2 years | ' | ' |
Organization_and_Significant_A4
Organization and Significant Accounting Policies (Schedule of Accounts Receivable Allowance For Doubtful Accounts) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ' | ' | ' | |||
Accounts receivable allowance for doubtful accounts, Balance at Beginning of Year | $372 | $508 | $496 | |||
Adjustments to Costs and Expenses | -79 | [1] | 19 | [1] | -2 | [1] |
Deductions | -272 | [2] | -155 | [2] | 14 | [2] |
Accounts receivable allowance for doubtful accounts, Balance at End of Year | $21 | $372 | $508 | |||
[1] | Includes increases/(decreases) charged or credited to costs and expenses. | |||||
[2] | Uncollectible accounts written off, net of recoveries. |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Share data in Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 |
Foreign | Foreign | China | Nanya | Nanya | Nanya | (SMIC) common stock | (SMIC) common stock | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchases of available-for-sale securities | $0 | $0 | $27,109,000 | ' | ' | ' | $27,100,000 | ' | ' | ' | ' |
Number of shares sold | ' | ' | ' | ' | ' | ' | ' | 11 | 14.4 | ' | 29.9 |
Proceeds from sale of common stock | ' | ' | ' | ' | ' | ' | ' | 16,200,000 | 21,200,000 | ' | 3,200,000 |
Gain on sale of stock | ' | ' | ' | ' | ' | ' | ' | 9,200,000 | 12,000,000 | ' | 2,100,000 |
Write down of investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' |
Cash, cash equivalents and short term investments | ' | ' | ' | $71,900,000 | $71,200,000 | $3,000,000 | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets and Liabilities that are Measured at Fair Value on a Recurring Basis) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Financial assets measured at fair value | $43,198 | $53,330 | ||
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Financial assets measured at fair value | 22,519 | 37,735 | ||
Money market instruments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Financial assets measured at fair value | 22,519 | 19,318 | ||
Money market instruments | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Financial assets measured at fair value | 22,519 | [1] | 19,318 | [1] |
Available-for-sale securities | (SMIC) common stock | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Financial assets measured at fair value | ' | 1,793 | ||
Available-for-sale securities | (SMIC) common stock | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Financial assets measured at fair value | 0 | [2] | 1,793 | [2] |
Available-for-sale securities | Nanya Technology Corporation (Nanya) common stock | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Financial assets measured at fair value | ' | 16,624 | ||
Available-for-sale securities | Nanya Technology Corporation (Nanya) common stock | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Financial assets measured at fair value | $0 | [2] | $16,624 | [2] |
[1] | Included in cash and cash equivalents | |||
[2] | Included in short-term investments |
Fair_Value_Measurements_Market
Fair Value Measurements (Marketable Equity and Cash Equivalents (Classified as Available-for-sale) and Cost Method Investments) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $43,198 | $43,112 |
Gross Unrealized Holding Gains | 0 | 10,218 |
Gross Unrealized Holding Losses | 0 | 0 |
Fair Value | 43,198 | 53,330 |
Money market instruments | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 22,519 | 19,318 |
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | 0 |
Fair Value | 22,519 | 19,318 |
Certificates of deposit | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 20,679 | 15,595 |
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | 0 |
Fair Value | 20,679 | 15,595 |
Available-for-sale securities | (SMIC) common stock | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | ' | 1,099 |
Gross Unrealized Holding Gains | ' | 694 |
Gross Unrealized Holding Losses | ' | 0 |
Fair Value | ' | 1,793 |
Available-for-sale securities | Nanya | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | ' | 7,100 |
Gross Unrealized Holding Gains | ' | 9,524 |
Gross Unrealized Holding Losses | ' | 0 |
Fair Value | ' | 16,624 |
Amounts included in cash and cash equivalents | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 41,721 | 31,772 |
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | 0 |
Fair Value | 41,721 | 31,772 |
Short-term Investments | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,477 | 11,340 |
Gross Unrealized Holding Gains | 0 | 10,218 |
Gross Unrealized Holding Losses | 0 | 0 |
Fair Value | $1,477 | $21,558 |
Inventories_Narrative_Details
Inventories (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Inventory Disclosure [Abstract] | ' | ' | ' |
Inventory write-down | $5.60 | $4.60 | $5.70 |
Inventories_Schedule_of_Invent
Inventories (Schedule of Inventory, Current by major category) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Purchased components | $21,677 | $14,039 |
Work-in-process | 27,058 | 20,960 |
Finished goods | 36,358 | 33,470 |
Inventories | $85,093 | $68,469 |
Other_Assets_Narrative_Details
Other Assets (Narrative) (Details) (USD $) | 1 Months Ended | 12 Months Ended | |||
Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | |
Entity Information [Line Items] | ' | ' | ' | ' | ' |
Purchases of available-for-sale securities | ' | $0 | $0 | $27,109,000 | ' |
Termination period | '1 year | ' | ' | ' | ' |
Amount of equity investment | ' | 1,436,000 | 1,684,000 | ' | 2,000,000 |
Proceeds from sale of investment | ' | ' | 4,300,000 | ' | ' |
Pre-tax gain on sale of investment | ' | ' | 200,000 | ' | ' |
Hong Kong | ' | ' | ' | ' | ' |
Entity Information [Line Items] | ' | ' | ' | ' | ' |
Ownership interest | ' | 31.00% | ' | ' | ' |
Nanya | ' | ' | ' | ' | ' |
Entity Information [Line Items] | ' | ' | ' | ' | ' |
Purchases of available-for-sale securities | 27,100,000 | ' | ' | ' | ' |
Minimum | ' | ' | ' | ' | ' |
Entity Information [Line Items] | ' | ' | ' | ' | ' |
Estimated useful lives of purchased definite lived intangible assets | ' | '6 months | ' | ' | ' |
Minimum | Technology licenses, net | ' | ' | ' | ' | ' |
Entity Information [Line Items] | ' | ' | ' | ' | ' |
Estimated useful lives of purchased definite lived intangible assets | ' | '3 years | ' | ' | ' |
Maximum | ' | ' | ' | ' | ' |
Entity Information [Line Items] | ' | ' | ' | ' | ' |
Estimated useful lives of purchased definite lived intangible assets | ' | '8 years | ' | ' | ' |
Maximum | Technology licenses, net | ' | ' | ' | ' | ' |
Entity Information [Line Items] | ' | ' | ' | ' | ' |
Estimated useful lives of purchased definite lived intangible assets | ' | '10 years | ' | ' | ' |
Other_Assets_Schedule_of_Other
Other Assets (Schedule of Other Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2012 |
In Thousands, unless otherwise specified | |||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Restricted assets | $499 | $811 | ' |
Other investment | 1,436 | 1,684 | 2,000 |
Nanya private placement shares | 10,645 | 10,920 | ' |
Other | 1,145 | 1,162 | ' |
Other assets | 24,369 | 16,579 | ' |
Technology licenses, net | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Technology licenses, net | $10,644 | $2,002 | ' |
Property_and_Equipment_net_Nar
Property and Equipment, net (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 |
Operating expenses | Other income (expense), net | Other income (expense), net | Other income (expense), net | Minimum | Maximum | |||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment for certain assets | ' | ' | $1.20 | ' | ' | ' | ' | ' |
Cancellation notice period | ' | ' | ' | ' | ' | ' | '2 months | '4 months |
Rental income | ' | ' | ' | 1 | 1.2 | 1.3 | ' | ' |
Depreciation | $0.10 | $0.10 | ' | $0.10 | ' | ' | ' | ' |
Property_and_Equipment_net_Sch
Property and Equipment, net (Schedule of Property and Equipment) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Machinery and equipment | $66,629 | $56,144 |
Furniture and fixtures | 3,708 | 3,717 |
Land, buildings and improvements | 48,891 | 40,665 |
Property and equipment, gross | 119,228 | 100,526 |
Less accumulated depreciation and amortization | -60,381 | -54,022 |
Total | $58,847 | $46,504 |
Property_and_Equipment_net_Sch1
Property and Equipment, net (Schedule of Assets Leased) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Buildings and improvements | $119,228 | $100,526 |
Less accumulated depreciation | -60,381 | -54,022 |
Total | 58,847 | 46,504 |
Buildings and Improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Buildings and improvements | 7,406 | 9,441 |
Less accumulated depreciation | -4,623 | -5,650 |
Total | $2,783 | $3,791 |
Purchased_Intangible_Assets_an2
Purchased Intangible Assets and Goodwill (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 14, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | |
Developed technology | Customer relationships | Other | Chingis | Chingis | Si En | Cost of sales | Operating expenses | |||||
Si En | Si En | |||||||||||
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additions to purchased intangible assets | ' | ' | ' | ' | ' | ' | ' | $7,900,000 | ' | ' | ' | ' |
Impairment of intangible assets | 0 | 0 | 8,887,000 | ' | ' | ' | ' | ' | ' | 8,900,000 | 5,400,000 | 3,500,000 |
Weighted average useful life for intangibles (years) | ' | ' | ' | ' | '4 years 15 days | '3 years 11 months 16 days | '11 months 16 days | ' | ' | ' | ' | ' |
Goodwill | 9,178,000 | 9,178,000 | 9,178,000 | 9,463,000 | ' | ' | ' | ' | 3,976,000 | 3,900,000 | ' | ' |
Impairment | $0 | $0 | $4,261,000 | ' | ' | ' | ' | ' | ' | $4,300,000 | ' | ' |
Purchased_Intangible_Assets_an3
Purchased Intangible Assets and Goodwill (Schedule of Finite-Lived Intangible Assets by Major Class) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross | $9,120 | $9,120 |
Accumulated Amortization | 4,027 | 2,494 |
Total | 5,093 | ' |
Total, net | 5,093 | 6,626 |
Developed technology | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross | 5,330 | 5,330 |
Accumulated Amortization | 2,584 | 1,758 |
Total | 2,746 | 3,572 |
Customer relationships | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross | 3,340 | 3,340 |
Accumulated Amortization | 1,137 | 580 |
Total | 2,203 | 2,760 |
Other | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross | 450 | 450 |
Accumulated Amortization | 306 | 156 |
Total | $144 | $294 |
Purchased_Intangible_Assets_an4
Purchased Intangible Assets and Goodwill (Schedule of Current Finite-Lived Intangible Asset Amortization Expense by Income Statement Line Item) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Schedule of Current Intangible Asset Amortization Expense By Income Statement Line Item [Line Items] | ' | ' | ' |
Amortization expense of intangible assets | $1,533 | $1,600 | $1,848 |
Cost of sales | ' | ' | ' |
Schedule of Current Intangible Asset Amortization Expense By Income Statement Line Item [Line Items] | ' | ' | ' |
Amortization expense of intangible assets | 826 | 879 | 984 |
Operating expenses | ' | ' | ' |
Schedule of Current Intangible Asset Amortization Expense By Income Statement Line Item [Line Items] | ' | ' | ' |
Amortization expense of intangible assets | $707 | $721 | $864 |
Purchased_Intangible_Assets_an5
Purchased Intangible Assets and Goodwill (Schedule Finite-Lived Intangible Assets, Future Amortization Expense) (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
2015 | $1,382 |
2016 | 1,238 |
2017 | 1,239 |
2018 | 1,195 |
2019 | 39 |
Thereafter | 0 |
Total | $5,093 |
Purchased_Intangible_Assets_an6
Purchased Intangible Assets and Goodwill (Schedule of Goodwill) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Goodwill [Roll Forward] | ' | ' | ' |
Goodwill, Beginning Balance | $9,178 | $9,178 | $9,463 |
Addition | ' | ' | 3,976 |
Impairment | 0 | 0 | -4,261 |
Goodwill, Ending Balance | $9,178 | $9,178 | $9,178 |
Borrowings_Narrative_Details
Borrowings (Narrative) (Details) (USD $) | 1 Months Ended | |
Dec. 31, 2012 | Sep. 30, 2014 | |
Debt Instrument [Line Items] | ' | ' |
Short-term lines of credit borrowing capacity | ' | 19,800,000 |
Secured Debt | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Amount of bank loan | 4,900,000 | ' |
Purchase price of land and building | 6,500,000 | ' |
Number of acres of land acquired | 2.85 | ' |
Number of square feet of building | 55,612 | ' |
Secured Debt | London Interbank Offered Rate (LIBOR) | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of loan | 1.00% | ' |
LIBOR variable interest rate | 'LIBOR | ' |
Interest rate on Loan | ' | 1.25% |
Borrowings_Principal_Repayment
Borrowings Principal Repayments (Details) (Secured Debt, USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Secured Debt | ' |
Debt Instrument [Line Items] | ' |
2015 | $195 |
2016 | 195 |
2017 | 195 |
2018 | 3,949 |
2019 | 0 |
Thereafter | 0 |
Total | $4,534 |
Accrued_Expenses_Schedule_of_A
Accrued Expenses (Schedule of Accrued Expenses) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ' | ' |
Deferred distributor margin | $3,607 | $2,301 |
Income taxes payable | 4,549 | 2,690 |
Other | 3,209 | 2,366 |
Accrued expenses | $11,365 | $7,357 |
Other_Longterm_Liabilities_Sch
Other Long-term Liabilities (Schedule of Other Long-Term Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Pension liability | $4,076 | $3,790 |
Non-current deferred tax liabilities | 866 | 4,479 |
Other | 514 | 443 |
Other long-term liabilities | $5,456 | $8,712 |
Stockholders_Equity_Narrative_
Stockholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | 85 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Jul. 28, 2014 | Nov. 17, 2014 | Jul. 28, 2014 | |
Series 1 Redeemable Preferred Stock (Series 1 Shares) | Series 1 Redeemable Preferred Stock (Series 1 Shares) | Series 1 Redeemable Preferred Stock (Series 1 Shares) | |||||
Subsequent Event | Chingis | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | 70,000,000 | 70,000,000 | ' | 70,000,000 | ' | ' | ' |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | ' | 5,000,000 | 324 | 324 | ' |
Remaining percentage of outstanding shares of common stock (less than 1%) | ' | ' | ' | ' | ' | ' | 1.00% |
Exchange ratio for Series 1 share for each outstanding share of Chingis common stock | ' | ' | ' | ' | ' | ' | 0.10% |
Redeemable cash price per share | ' | ' | ' | ' | $559.35 | ' | ' |
Aggregate cost of redemption | ' | ' | ' | ' | ' | $200,000 | ' |
Stock repurchased and retired during period (shares) | ' | ' | ' | 14,179,711 | ' | ' | ' |
Stock repurchased and retired during period, value | 358,000 | 555,000 | 537,000 | 88,500,000 | ' | ' | ' |
Stock repurchase program, remaining authorized repurchase amount | 19,800,000 | ' | ' | 19,800,000 | ' | ' | ' |
Shares paid for tax withholding for share based compensation (shares) | 30,886 | 59,501 | ' | ' | ' | ' | ' |
Payments related to tax withholding for share-based compensation | $358,000 | $555,000 | ' | ' | ' | ' | ' |
Stockholders_Equity_Schedule_o
Stockholders' Equity (Schedule of Common Shares Reserved for Future Issuance) (Details) | Sep. 30, 2014 |
Common shares reserved under Employee Stock Purchase Plan | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common shares reserved for future issuance | 332,000 |
Common shares reserved under stock-based benefit plans | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common shares reserved for future issuance | 6,305,000 |
Stockholders_Equity_Schedule_o1
Stockholders' Equity (Schedule of Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Accumulated foreign currency translation adjustments | $1,051 | $4,787 |
Accumulated net retirement plan transition asset (net of tax of $124 in 2014 and $148 in 2013) | 8 | 47 |
Accumulated net retirement plan transition assets, tax | 124 | 148 |
Accumulated net retirement plan actuarial losses (net of tax of $477 in 2014 and $470 in 2013) | -2,103 | -2,091 |
Accumulated net retirement plan actuarial losses, tax | 477 | 470 |
Total accumulated other comprehensive income (loss) | -1,044 | 9,121 |
Estimated net prior service cost | 0 | ' |
Estimated actuarial loss | 116 | ' |
Estimated transition obligation | -59 | ' |
SMIC | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Accumulated net unrealized gain on investment | 0 | 419 |
Accumulated net unrealized gain on investment, tax | 0 | 275 |
Nanya | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Accumulated net unrealized gain on investment | 0 | 5,959 |
Accumulated net unrealized gain on investment, tax | $0 | $3,565 |
Stock_Based_Compensation_Narra
Stock Based Compensation (Narrative) (Details) (USD $) | 9 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Jun. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 08, 2013 | Jul. 20, 2011 | Jul. 30, 2007 | Jul. 30, 2007 | Jul. 20, 2011 | Sep. 17, 2012 | Sep. 17, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Prior to October 1 2005 | After October 1 2005 | Minimum | Maximum | Restricted Stock Units (RSUs) | Restricted Stock Units (RSUs) | Restricted Stock Units (RSUs) | Restricted Stock Units (RSUs) | Restricted Stock Units (RSUs) | Restricted Stock Units (RSUs) | Employee Stock | Employee Stock | Employee Stock | Stock Appreciation Rights (SARs) | Stock Appreciation Rights (SARs) | Stock Appreciation Rights (SARs) | Stock Appreciation Rights (SARs) | Options and Restricted Stock Units (RSUs) | Options and Restricted Stock Units (RSUs) | Options and Restricted Stock Units (RSUs) | 2007 Incentive Compensation Plan | 2007 Incentive Compensation Plan | 2007 Incentive Compensation Plan | 2007 Incentive Compensation Plan | 2007 Incentive Compensation Plan | 2012 Inducement Option Plan | 2012 Inducement Option Plan | 1998 Stock Plan and 1996 Nonstatutory Stock Plan | 1998 Stock Plan and 1996 Nonstatutory Stock Plan | 1998 Stock Plan and 1996 Nonstatutory Stock Plan | 1998 Stock Plan and 1996 Nonstatutory Stock Plan | 1998 Stock Plan and 1996 Nonstatutory Stock Plan | 1995 Employee Stock Purchase Plan | 1995 Employee Stock Purchase Plan | 1995 Employee Stock Purchase Plan | |||
Minimum | Maximum | Minimum | Maximum | Restricted Stock Units (RSUs) | Chingis | Chingis | Prior to October 1 2005 | After October 1 2005 | Minimum | Maximum | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total number of shares subject to options and awards outstanding (shares) | ' | 4,502,000 | ' | ' | ' | ' | 262,000 | 269,000 | 323,000 | 382,000 | ' | ' | ' | ' | ' | 747,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for future grant under the 2007 Plan (shares) | ' | 1,803,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option vesting term | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '4 years | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | '4 years | ' | ' | ' | ' | ' | ' | ' |
Option cliff vesting period | ' | ' | ' | ' | '6 months | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | '1 year | ' | ' | ' |
Options expiration period for grants | ' | ' | '10 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | '10 years | '7 years | ' | ' | ' | ' | ' |
Shares available for future issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | 263,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional shares available for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 2,000,000 | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 439,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercise price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.42 | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion vested of total shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.0208 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Offering period under stock purchase plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' |
Percentage discount from fair market value for shares purchased under the Employee Stock Purchase Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' |
Number of new options issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 249,000 | 237,000 | 181,000 |
Common shares reserved for future issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 332,000 | ' | ' |
Total unrecognized stock-based compensation expense | ' | $8.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | ' | ' | $2.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonvested awards, total compensation cost not yet recognized, period for recognition | ' | '2 years 29 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 months | ' | ' | '3 years 1 month 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic value of options exercised and RSU's vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.40 | $7 | $5.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend yield | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value (in dollars per share) | ' | ' | ' | ' | ' | ' | $11.62 | $9.14 | $9.42 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Based_Compensation_Sched
Stock Based Compensation (Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Allocated share-based compensation expense | $6,092 | $5,941 | $5,031 |
Tax effect on stock-based compensation | -1,293 | -1,089 | 0 |
Net effect on net income (loss) | 4,799 | 4,852 | 5,031 |
Cost of sales | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Allocated share-based compensation expense | 179 | 179 | 135 |
Research and development | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Allocated share-based compensation expense | 2,478 | 2,310 | 1,461 |
Selling, general and administrative | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Allocated share-based compensation expense | $3,435 | $3,452 | $3,435 |
Stock_Based_Compensation_Share
Stock Based Compensation (Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value) (Details) (USD $) | 9 Months Ended | 12 Months Ended | |||||
Jun. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Common shares reserved under stock-based benefit plans | Common shares reserved under stock-based benefit plans | Common shares reserved under stock-based benefit plans | Employee Stock | Employee Stock | Employee Stock | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Expected life (years) | ' | '4 years 4 months 28 days | '4 years 5 months 12 days | '4 years 4 months 24 days | '5 months 27 days | '6 months | '6 months |
Expected volatility | ' | 50.00% | 58.00% | 60.00% | 29.00% | 31.00% | 42.00% |
Risk-free interest rate | ' | 1.06% | 0.57% | 0.61% | 0.25% | 0.09% | 0.11% |
Dividend yield | 0.00% | 0.06% | 0.00% | 0.00% | 0.75% | 0.00% | 0.00% |
Weighted-average fair value of grants | ' | $4.76 | $4.37 | $4.70 | $2.98 | $2.44 | $2.66 |
Stock_Based_Compensation_Share1
Stock Based Compensation (Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Outstanding at end of period (shares) | 4,502,000 | ' | ' |
Common shares reserved under stock-based benefit plans | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Outstanding at beginning of period (shares) | 5,351,000 | 5,477,000 | 4,851,000 |
Granted (shares) | 500,000 | 1,106,000 | 1,608,000 |
Exercised (shares) | -1,460,000 | -1,116,000 | -857,000 |
Cancelled/Expired (shares) | -151,000 | -116,000 | -125,000 |
Outstanding at end of period (shares) | 4,240,000 | 5,351,000 | 5,477,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' |
Weighted-Average Exercise Price, Outstanding at beginning of period | $7.51 | $6.81 | $5.57 |
Weighted-Average Exercise Price, Granted | $11.48 | $9.31 | $9.91 |
Weighted-Average Exercise Price, Exercised | $6.88 | $5.61 | $5.18 |
Weighted-Average Exercise Price, Cancelled/Expired | $10.32 | $9.83 | $9.68 |
Weighted-Average Exercise Price, Outstanding at end of period | $8.10 | $7.51 | $6.81 |
Weighted-Average Remaining Contractual Term in Years, Outstanding at September 30, 2014 (years) | '3 years 9 months 7 days | ' | ' |
Aggregate Intrinsic Value, Outstanding at September 30, 2014 | $23,972 | ' | ' |
Number of Shares, Exercisable (shares) | 2,788,000 | 3,173,000 | 3,072,000 |
Weighted-Average Exercise Price, Exercisable | $7.06 | $6.25 | $5.42 |
Weighted-Average Remaining Contractual Term in Years, Exercisable (years) | '3 years 18 days | '3 years 2 months 23 days | '3 years 3 months 11 days |
Aggregate Intrinsic Value, Exercisable at September 30, 2014 | 18,624 | ' | ' |
Number of Shares, Vested and expected to vest after September 30, 2014 (shares) | 4,179,000 | ' | ' |
Weighted-Average Exercise Price, Vested and expected to vest after September 30, 2014 | $8.06 | ' | ' |
Weighted-Average Remaining Contractual Term in Years, Vested and expected to vest after September 30, 2014 (years) | '3 years 8 months 27 days | ' | ' |
Aggregate Intrinsic Value, Vested and expected to vest after September 30, 2014 | $23,765 | ' | ' |
Stock_Based_Compensation_Sched1
Stock Based Compensation (Schedule of Stock Options Outstanding and Exercisable) (Details) (Common shares reserved under stock-based benefit plans, USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, lower range limit | $1.65 |
Range of Exercise Prices, upper range limit | $15.53 |
Options Outstanding, shares | 4,240 |
Options Outstanding, weighted average contractual life (in years) | '3 years 9 months 7 days |
Options Outstanding, Weighted average Exercise Price (in dollars per share) | $8.10 |
Options Exercisable, Number of Options Exercisable (in shares) | 2,788 |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $7.06 |
Stock Options Range of Exercise Prices $1.65 - $4.34 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, lower range limit | $1.65 |
Range of Exercise Prices, upper range limit | $4.34 |
Options Outstanding, shares | 888 |
Options Outstanding, weighted average contractual life (in years) | '1 year 8 months 23 days |
Options Outstanding, Weighted average Exercise Price (in dollars per share) | $3.38 |
Options Exercisable, Number of Options Exercisable (in shares) | 888 |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $3.38 |
Stock Options Range of Exercise Prices $4.35 - $9.07 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, lower range limit | $4.35 |
Range of Exercise Prices, upper range limit | $9.07 |
Options Outstanding, shares | 855 |
Options Outstanding, weighted average contractual life (in years) | '2 years 5 months 23 days |
Options Outstanding, Weighted average Exercise Price (in dollars per share) | $7.35 |
Options Exercisable, Number of Options Exercisable (in shares) | 804 |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $7.31 |
Stock Options Range of Exercise Prices $9.08 - $9.36 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, lower range limit | $9.08 |
Range of Exercise Prices, upper range limit | $9.36 |
Options Outstanding, shares | 978 |
Options Outstanding, weighted average contractual life (in years) | '4 years 10 months 13 days |
Options Outstanding, Weighted average Exercise Price (in dollars per share) | $9.19 |
Options Exercisable, Number of Options Exercisable (in shares) | 447 |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $9.22 |
Stock Options Range of Exercise Prices $9.37 - $10.64 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, lower range limit | $9.37 |
Range of Exercise Prices, upper range limit | $10.64 |
Options Outstanding, shares | 891 |
Options Outstanding, weighted average contractual life (in years) | '4 years 4 months 6 days |
Options Outstanding, Weighted average Exercise Price (in dollars per share) | $10.01 |
Options Exercisable, Number of Options Exercisable (in shares) | 485 |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $10.02 |
Stock Options Range of Exercise Prices $10.65 - $15.53 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, lower range limit | $10.65 |
Range of Exercise Prices, upper range limit | $15.53 |
Options Outstanding, shares | 628 |
Options Outstanding, weighted average contractual life (in years) | '5 years 10 months 10 days |
Options Outstanding, Weighted average Exercise Price (in dollars per share) | $11.35 |
Options Exercisable, Number of Options Exercisable (in shares) | 164 |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $11.08 |
Stock_Based_Compensation_Restr
Stock Based Compensation (Restricted Stock and Restricted Stock Units Activity) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Outstanding at end of period (shares) | 4,502,000 | ' | ' |
Restricted Stock Units (RSUs) | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Outstanding at beginning of period (shares) | 269,000 | 323,000 | 382,000 |
Granted (shares) | 88,000 | 121,000 | 106,000 |
Vested (shares) | -94,000 | -172,000 | -165,000 |
Forfeited (shares) | -1,000 | -3,000 | 0 |
Outstanding at end of period (shares) | 262,000 | 269,000 | 323,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Weighted-Average Grant Date Fair Value, Outstanding at beginning of period | $9.02 | $8.41 | $7.84 |
Weighted- Average Grant-Date Fair Value, Granted | $11.62 | $9.14 | $9.42 |
Weighted Average Grant Date Fair Value, Vested | $8.94 | $7.94 | $7.73 |
Weighted-Average Grant Date Fair Value, Forfeited | $10.64 | $10.64 | $10.64 |
Weighted-Average Grant Date Fair Value, Outstanding at end of period | $9.91 | $9.02 | $8.41 |
Aggregate Intrinsic Value, Vested | $1,096 | $1,612 | $1,563 |
Aggregate Intrinsic Value, Outstanding at September 30, 2014 | $3,594 | ' | ' |
Stock_Based_Compensation_Sched2
Stock Based Compensation (Schedule of SAR Activity) (Details) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Outstanding at end of period (shares) | 4,502,000 |
Stock Appreciation Rights (SARs) | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Outstanding at beginning of period (shares) | 0 |
Granted (shares) | 779,000 |
Exercised (shares) | -9,000 |
Cancelled/Expired (shares) | -23,000 |
Outstanding at end of period (shares) | 747,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Weighted-Average Exercise Price, Outstanding at beginning of period | $0 |
Weighted-Average Exercise Price, Granted | $10.96 |
Weighted-Average Exercise Price, Exercised | $10.96 |
Weighted-Average Exercise Price, Cancelled/Expired | $10.96 |
Weighted-Average Exercise Price, Outstanding at end of period | $10.96 |
Aggregate Intrinsic Value, Exercised | $38 |
Number of Shares, Exercisable (shares) | 82,000 |
Weighted-Average Exercise Price, Exercisable | $10.96 |
Weighted-Average Remaining Contractual Term in Years, Outstanding at September 30, 2014 (years) | '6 years 1 month 6 days |
Weighted-Average Remaining Contractual Term in Years, Exercisable (years) | '6 years 1 month 2 days |
Aggregate Intrinsic Value, Outstanding at September 30, 2014 | 2,077 |
Aggregate Intrinsic Value, Exercisable at September 30, 2014 | $228 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Federal statutory rate | 35.00% | ' | ' |
Income tax benefit from release of valuation allowance for certain deferred tax assets | ($815,000) | ($1,334,000) | $1,384,000 |
Valuation allowance | 23,287,000 | 24,928,000 | ' |
Common shares reserved under stock-based benefit plans | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Valuation allowance | 13,300,000 | ' | ' |
Expectations of Future Taxable Income | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Income tax benefit from release of valuation allowance for certain deferred tax assets | -1,600,000 | 41,000 | 2,700,000 |
Federal | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 14,500,000 | ' | ' |
Research and development tax credit carryforwards | 3,000,000 | ' | ' |
Minimum tax credit carryforwards | 600,000 | ' | ' |
State | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 73,200,000 | ' | ' |
Research and development tax credit carryforwards | 2,700,000 | ' | ' |
Foreign | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 20,900,000 | ' | ' |
Foreign tax credit carryforwards | $5,400,000 | ' | ' |
Income_Taxes_Schedule_of_Incom
Income Taxes (Schedule of Income (loss) before Provision for Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States | $4,126 | $4,542 | $9,723 |
International | 29,001 | 25,479 | -5,816 |
Total pre-tax income | $33,127 | $30,021 | $3,907 |
Income_Taxes_Schedule_of_Compo
Income Taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Current: | ' | ' | ' |
Federal | $2,710 | $2 | $235 |
State | 124 | 86 | 141 |
Foreign | 4,565 | 2,902 | 1,120 |
Total current | 7,399 | 2,990 | 1,496 |
Deferred: | ' | ' | ' |
Federal | 1,091 | 7,596 | 5,470 |
State | 933 | 12 | 95 |
Foreign | 215 | 1,679 | -549 |
Total deferred | 2,239 | 9,287 | 5,016 |
Total provision | $9,638 | $12,277 | $6,512 |
Income_Taxes_Income_Tax_Reconc
Income Taxes (Income Tax Reconciliation) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Income taxes computed at the U.S. federal statutory rate | $11,595 | $10,507 | $1,367 |
State income taxes | 1,057 | 98 | 69 |
Research credits | -41 | -89 | 757 |
Foreign losses not benefited | 0 | 0 | 1,377 |
Foreign income inclusion, net of credit | 1,765 | 6,469 | 0 |
Non-deductible stock compensation | 1,126 | 991 | 672 |
Non-deductible impairment charges | 0 | 0 | 3,321 |
Valuation allowance changes | -815 | -1,334 | 1,384 |
Foreign taxes | -5,371 | -4,334 | -2,523 |
Other | 322 | -31 | 88 |
Total provision | $9,638 | $12,277 | $6,512 |
Income_Taxes_Schedule_of_Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Depreciation | $0 | $217 |
Inventory and other valuation reserves | 457 | 532 |
Accrued expenses | 5,745 | 5,312 |
Federal, state and foreign credit carryforwards | 9,804 | 4,310 |
Federal, state and foreign net operating loss carryforwards | 12,835 | 20,388 |
Non-deductible stock options | 3,106 | 3,064 |
Other, net | 1,600 | 38 |
Subtotal | 33,547 | 33,861 |
Valuation allowance | -23,287 | -24,928 |
Total deferred tax assets | 10,260 | 8,933 |
Deferred tax liabilities: | ' | ' |
Purchased intangibles | -866 | -1,144 |
Net deferred tax assets | 9,394 | 7,789 |
Reported as: | ' | ' |
Current deferred tax assets | 1,868 | 2,326 |
Non-current deferred tax assets | 8,392 | 9,942 |
Non-current deferred tax liabilities | ($866) | ($4,479) |
Income_Taxes_Schedule_of_Unrec
Income Taxes (Schedule of Unrecognized Tax Benefits Rollforward) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Balance at the beginning of the year | $3,052 | $2,906 | $4,533 |
Increases related to current year positions | 90 | 108 | 68 |
Increases (decreases) related to prior year positions | 78 | 38 | -1,695 |
Balance at the end of the year | $3,220 | $3,052 | $2,906 |
Retirement_Plan_Narrative_Deta
Retirement Plan (Narrative) (Details) (USD $) | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance of vested benefits | $881,000 | $352,000 |
Expected contributions to be paid to the Benefit Plan during fiscal 2015 | 45,000 | ' |
Percentage of eligible compensation for contribution to 401(k) Plan | 75.00% | ' |
Employer matching percentage of contributions by employee | 50.00% | ' |
Percentage of eligible earnings (up to 10%) | 10.00% | ' |
Annual matching contribution per participant | 6,000 | ' |
Annual vesting percentage for company contributions | 25.00% | ' |
Amount of matching contribution to 401 (k) Plan | $378,000 | ' |
Maximum base salary percentage that an employee can defer (up to 50%) | 50.00% | ' |
Percentage vested of deferrals | 100.00% | ' |
Pension Plans, Defined Benefit | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Monthly contribution percentage of wages and salaries | 2.00% | ' |
Pension Plans, Defined Benefit | Minimum | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Monthly contribution percentage of wages and salaries | 6.00% | ' |
Retirement_Plan_Schedule_of_Ch
Retirement Plan (Schedule of Changes in Projected Benefit Obligation) (Details) (Pension Plans, Defined Benefit, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plans, Defined Benefit | ' | ' | ' |
Change in projected benefit obligation: | ' | ' | ' |
Beginning benefit obligation | $6,390 | $6,047 | ' |
Service cost | 204 | 200 | 195 |
Interest cost | 124 | 119 | 108 |
Actuarial loss | 199 | 90 | ' |
Currency exchange rate changes | -161 | -66 | ' |
Ending projected benefit obligation | $6,756 | $6,390 | $6,047 |
Retirement_Plan_Schedule_of_Ch1
Retirement Plan (Schedule of Changes in Plan Assets) (Details) (Pension Plans, Defined Benefit, USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Pension Plans, Defined Benefit | ' | ' |
Change in fair value plan assets | ' | ' |
Beginning fair value of plan assets | $2,599 | $2,510 |
Actual return on plan assets | 60 | 32 |
Employer contributions | 86 | 86 |
Currency exchange rate changes | -65 | -29 |
Ending fair value of plan assets | $2,680 | $2,599 |
Retirement_Plan_Schedule_of_Am
Retirement Plan (Schedule of Amounts Recognized on the Consolidated Balance Sheet) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accumulated other comprehensive income (net of tax of $353 in 2014 and $322 in 2013) | ($2,103) | ($2,091) |
Pension Plans, Defined Benefit | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Other long-term liabilities | 4,076 | 3,790 |
Accumulated other comprehensive income (net of tax of $353 in 2014 and $322 in 2013) | 2,095 | 2,044 |
Amount recognized | 6,171 | 5,834 |
Accumulated other comprehensive income, tax | $353 | $322 |
Retirement_Plan_Amounts_Record
Retirement Plan (Amounts Recorded to Accumulated Other Comprehensive Income (Loss) Before Taxes) (Details) (Pension Plans, Defined Benefit, USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Pension Plans, Defined Benefit | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net transition asset | $132 | $195 |
Net actuarial loss | -2,580 | -2,561 |
Defined benefit plans, net | ($2,448) | ($2,366) |
Retirement_Plan_Summary_of_Acc
Retirement Plan (Summary of Accumulated Benefit Obligation) (Details) (Pension Plans, Defined Benefit, USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Pension Plans, Defined Benefit | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accumulated benefit obligation | $4,308 | $3,940 |
Retirement_Plan_Schedule_of_We
Retirement Plan (Schedule of Weighted Average Actuarial Assumptions Used) (Details) (Pension Plans, Defined Benefit) | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Minimum | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 1.90% | 1.90% |
Expected return on plan assets | 1.90% | 1.90% |
Rate of compensation increase | 3.00% | 3.00% |
Maximum | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 2.00% | 2.00% |
Expected return on plan assets | 2.00% | 2.00% |
Rate of compensation increase | 4.00% | 4.00% |
Retirement_Plan_Schedule_of_Ne
Retirement Plan (Schedule of Net Periodic Benefit Cost) (Details) (Pension Plans, Defined Benefit, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plans, Defined Benefit | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $204 | $200 | $195 |
Interest cost | 124 | 119 | 108 |
Expected return on plan assets | -51 | -50 | -44 |
Amortization of deferred amount | 50 | 40 | 36 |
Net periodic benefit cost | $327 | $309 | $295 |
Retirement_Plan_Schedule_of_Ex
Retirement Plan (Schedule of Expected Benefit Payments) (Details) (Pension Plans, Defined Benefit, USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Pension Plans, Defined Benefit | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 | $941 |
2016 | 150 |
2017 | 69 |
2018 | 513 |
2019 | 407 |
2020-2024 | $3,266 |
Per_Share_Data_Narrative_Detai
Per Share Data (Narrative) (Details) (Outstanding stock options and awards) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Outstanding stock options and awards | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Stock options and awards excluded from diluted earnings per share (shares) | ' | ' | 1,781 |
Additional stock options and awards excluded from diluted earnings per share by the application of the treasury stock method (shares) | 952 | 2,733 | 1,499 |
Per_Share_Data_Calculation_of_
Per Share Data (Calculation of Basic and Diluted EPS) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||
Numerator for basic and diluted net income (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Net income (loss) | $2,832 | $6,186 | [1] | $8,812 | [2] | $5,435 | [3] | $4,698 | [4] | $7,064 | [5] | $3,287 | [6] | $2,499 | $23,265 | $17,548 | ($2,718) |
Denominator for basic net income (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 30,037 | 28,223 | 27,120 | ||||||
Dilutive effect of stock options and awards (shares) | ' | ' | ' | ' | ' | ' | ' | ' | 1,586 | 1,471 | 0 | ||||||
Denominator for diluted net income (loss) per share (shares) | ' | ' | ' | ' | ' | ' | ' | ' | 31,623 | 29,694 | 27,120 | ||||||
Basic net income (loss) per share | $0.09 | $0.20 | $0.30 | $0.19 | $0.16 | $0.25 | $0.12 | $0.09 | $0.77 | $0.62 | ($0.10) | ||||||
Diluted net income (loss) per share | $0.09 | $0.19 | $0.28 | $0.18 | $0.15 | $0.24 | $0.11 | $0.09 | $0.74 | $0.59 | ($0.10) | ||||||
[1] | In the June 2014 quarter, the Company realized a gain of $2.1 million from the sale of its remaining freely-tradeable shares of Nanya common stock. | ||||||||||||||||
[2] | In the March 2014 quarter, the Company realized a gain from the sale of investments of $6.0 million including $3.9 million from the sale of a portion of its shares of Nanya common stock and $2.1 million from the sale of its remaining shares of SMIC common stock. | ||||||||||||||||
[3] | In the December 2013 quarter, the Company realized a gain of $3.1 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
[4] | In the September 2013 quarter, the Company realized a gain of $2.9 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
[5] | In the June 2013 quarter, the Company realized a gain from the sale of investments of $7.3 million including $7.0 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
[6] | In the March 2013 quarter, the Company realized a gain of $2.1 million from the sale of a portion of its shares of Nanya common stock. |
Geographic_and_Segment_Informa2
Geographic and Segment Information (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Business_Segment | |||
Segment Reporting [Abstract] | ' | ' | ' |
Number of operating segments | 1 | ' | ' |
Net foreign currency transaction gains (losses) | $436 | $214 | ($640) |
Geographic_and_Segment_Informa3
Geographic and Segment Information (Schedule of Revenues, by Geographical Areas) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | $84,152 | $84,834 | $80,868 | $79,123 | $78,392 | $77,788 | $74,991 | $76,399 | $328,977 | $307,570 | $265,950 |
Long-lived assets | 58,847 | ' | ' | ' | 46,504 | ' | ' | ' | 58,847 | 46,504 | 29,286 |
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 38,293 | 37,954 | 42,527 |
Long-lived assets | 11,174 | ' | ' | ' | 9,696 | ' | ' | ' | 11,174 | 9,696 | 440 |
China | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 43,422 | 32,170 | 17,913 |
Long-lived assets | 12,908 | ' | ' | ' | 3,424 | ' | ' | ' | 12,908 | 3,424 | 558 |
Hong Kong | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 60,534 | 64,193 | 57,971 |
Long-lived assets | 14 | ' | ' | ' | 7 | ' | ' | ' | 14 | 7 | 7 |
Taiwan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 46,968 | 41,204 | 26,107 |
Long-lived assets | 34,751 | ' | ' | ' | 33,377 | ' | ' | ' | 34,751 | 33,377 | 28,281 |
Japan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 21,944 | 30,102 | 29,664 |
Other Asia Pacific countries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 40,364 | 37,897 | 32,987 |
Europe | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 75,687 | 62,065 | 57,295 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | $1,765 | $1,985 | $1,486 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Total rental expense | $1.30 | $1.40 | $1.40 |
Amount of purchase orders that had been entered into wafer work-in-process | $28.90 | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Future Minimum Rental Commitments) (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2015 | $1,116 |
2016 | 736 |
2017 | 154 |
2018 | 83 |
2019 | 50 |
Thereafter | 0 |
Total minimum rental commitments | $2,139 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (Jimmy S.M. Lee, Executive Chairman, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Jimmy S.M. Lee, Executive Chairman | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenues from transactions with related party | $238 | $429 | $458 |
Accounts receivable, related parties | $59 | $65 | ' |
Acquisition_of_Chingis_Narrati
Acquisition of Chingis (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 14, 2012 | 31-May-13 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 14, 2012 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |||||||
Chingis | Chingis | Chingis | Chingis | Chingis | Chingis | Chingis | Chingis | Chingis | ||||||||||||||||||
Selling, general and administrative | Developed technology | Customer relationships | Other intangibles | |||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Percentage of equity acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94.10% | ' | ' | ' | ' | ||||||
Total purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $31,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Investment in consolidated subsidiaries, net of cash and cash equivalents acquired | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 13,210,000 | 13,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Cash on acquired entity's balance sheet | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Estimated useful lives of purchased definite lived intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | '6 years | '3 years | ||||||
Costs related to acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ||||||
Net loss | -2,858,000 | -6,227,000 | [1] | -8,958,000 | [2] | -5,446,000 | [3] | -4,730,000 | [4] | -7,246,000 | [5] | -3,280,000 | [6] | -2,488,000 | -23,489,000 | -17,744,000 | 2,605,000 | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' |
Additional ownership percentage acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.80% | ' | 1.10% | ' | ' | ' | ' | ' | ||||||
Acquisition price for additional interest acquired | ' | ' | ' | ' | ' | ' | ' | ' | $388,000 | $1,614,000 | $2,370,000 | ' | $1,600,000 | ' | $400,000 | ' | ' | ' | ' | ' | ||||||
Ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ||||||
[1] | In the June 2014 quarter, the Company realized a gain of $2.1 million from the sale of its remaining freely-tradeable shares of Nanya common stock. | |||||||||||||||||||||||||
[2] | In the March 2014 quarter, the Company realized a gain from the sale of investments of $6.0 million including $3.9 million from the sale of a portion of its shares of Nanya common stock and $2.1 million from the sale of its remaining shares of SMIC common stock. | |||||||||||||||||||||||||
[3] | In the December 2013 quarter, the Company realized a gain of $3.1 million from the sale of a portion of its shares of Nanya common stock. | |||||||||||||||||||||||||
[4] | In the September 2013 quarter, the Company realized a gain of $2.9 million from the sale of a portion of its shares of Nanya common stock. | |||||||||||||||||||||||||
[5] | In the June 2013 quarter, the Company realized a gain from the sale of investments of $7.3 million including $7.0 million from the sale of a portion of its shares of Nanya common stock. | |||||||||||||||||||||||||
[6] | In the March 2013 quarter, the Company realized a gain of $2.1 million from the sale of a portion of its shares of Nanya common stock. |
Acquisition_of_Chingis_Schedul
Acquisition of Chingis (Schedule of Purchase Price Allocation) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 14, 2012 | Sep. 14, 2012 | Sep. 14, 2012 | Sep. 14, 2012 | Sep. 14, 2012 |
In Thousands, unless otherwise specified | Chingis | Chingis | Chingis | Chingis | Chingis | ||||
In-process technology | Developed technology | Customer relationships | Other intangibles | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | $18,622 | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' | 6,546 | ' | ' | ' | ' |
Inventories | ' | ' | ' | ' | 5,229 | ' | ' | ' | ' |
Property, equipment and leasehold improvements | ' | ' | ' | ' | 117 | ' | ' | ' | ' |
Other current and other assets | ' | ' | ' | ' | 844 | ' | ' | ' | ' |
Intangible assets: | ' | ' | ' | ' | 39,238 | 400 | 3,690 | 3,340 | 450 |
Current liabilities and other liabilities | ' | ' | ' | ' | -7,946 | ' | ' | ' | ' |
Deferred tax liability | ' | ' | ' | ' | -1,440 | ' | ' | ' | ' |
Total liabilities assumed | ' | ' | ' | ' | -9,386 | ' | ' | ' | ' |
Net identifiable assets acquired | ' | ' | ' | ' | 29,852 | ' | ' | ' | ' |
Noncontrolling interest | ' | ' | ' | ' | -1,996 | ' | ' | ' | ' |
Goodwill | 9,178 | 9,178 | 9,178 | 9,463 | 3,976 | ' | ' | ' | ' |
Net assets acquired | ' | ' | ' | ' | $31,832 | ' | ' | ' | ' |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||||||
Schedule of Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Net sales | $84,152,000 | $84,834,000 | $80,868,000 | $79,123,000 | $78,392,000 | $77,788,000 | $74,991,000 | $76,399,000 | $328,977,000 | $307,570,000 | $265,950,000 | ||||||
Gross profit | 29,681,000 | 29,296,000 | 27,750,000 | 25,529,000 | 25,934,000 | 26,047,000 | 24,989,000 | 24,491,000 | 112,256,000 | 101,461,000 | 82,984,000 | ||||||
Operating income | 5,351,000 | 6,376,000 | 5,454,000 | 3,537,000 | 4,693,000 | 4,635,000 | 3,951,000 | 3,379,000 | 20,718,000 | 16,658,000 | 5,631,000 | ||||||
Consolidated net income | 2,858,000 | 6,227,000 | [1] | 8,958,000 | [2] | 5,446,000 | [3] | 4,730,000 | [4] | 7,246,000 | [5] | 3,280,000 | [6] | 2,488,000 | 23,489,000 | 17,744,000 | -2,605,000 |
Net income attributable to ISSI | 2,832,000 | 6,186,000 | [1] | 8,812,000 | [2] | 5,435,000 | [3] | 4,698,000 | [4] | 7,064,000 | [5] | 3,287,000 | [6] | 2,499,000 | 23,265,000 | 17,548,000 | -2,718,000 |
Basic net income per share | $0.09 | $0.20 | $0.30 | $0.19 | $0.16 | $0.25 | $0.12 | $0.09 | $0.77 | $0.62 | ($0.10) | ||||||
Diluted net income (loss) per share | $0.09 | $0.19 | $0.28 | $0.18 | $0.15 | $0.24 | $0.11 | $0.09 | $0.74 | $0.59 | ($0.10) | ||||||
Dividends per common share paid | $0.06 | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ||||||
Market price range common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Realized gain on sale of investment | ' | 2,100,000 | 6,000,000 | ' | ' | 7,300,000 | ' | ' | ' | ' | ' | ||||||
Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Market price range common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Market price per share | $15.80 | $15.95 | $15.60 | $12.43 | $11.99 | $11.31 | $9.92 | $9.73 | $15.80 | $11.99 | ' | ||||||
Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Market price range common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Market price per share | $13.62 | $12.78 | $10.80 | $10.52 | $9.99 | $8.31 | $8.33 | $8.18 | $13.62 | $9.99 | ' | ||||||
Nanya | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Market price range common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Realized gain on sale of investment | ' | ' | 3,900,000 | 3,100,000 | 2,900,000 | 7,000,000 | 2,100,000 | ' | ' | ' | ' | ||||||
(SMIC) common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Market price range common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Realized gain on sale of investment | ' | ' | $2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
[1] | In the June 2014 quarter, the Company realized a gain of $2.1 million from the sale of its remaining freely-tradeable shares of Nanya common stock. | ||||||||||||||||
[2] | In the March 2014 quarter, the Company realized a gain from the sale of investments of $6.0 million including $3.9 million from the sale of a portion of its shares of Nanya common stock and $2.1 million from the sale of its remaining shares of SMIC common stock. | ||||||||||||||||
[3] | In the December 2013 quarter, the Company realized a gain of $3.1 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
[4] | In the September 2013 quarter, the Company realized a gain of $2.9 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
[5] | In the June 2013 quarter, the Company realized a gain from the sale of investments of $7.3 million including $7.0 million from the sale of a portion of its shares of Nanya common stock. | ||||||||||||||||
[6] | In the March 2013 quarter, the Company realized a gain of $2.1 million from the sale of a portion of its shares of Nanya common stock. |