Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 28, 2014 | Jul. 28, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 28-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Trading Symbol | 'PSMI | ' |
Entity Registrant Name | 'PEREGRINE SEMICONDUCTOR CORP | ' |
Entity Central Index Key | '0000880177 | ' |
Current Fiscal Year End Date | '--12-27 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 33,427,374 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $19,730 | $16,249 |
Short-term marketable securities | 24,891 | 28,035 |
Accounts receivable, net | 18,178 | 16,905 |
Inventories | 39,965 | 53,489 |
Prepaids and other current assets | 5,616 | 4,085 |
Total current assets | 108,380 | 118,763 |
Property and equipment, net | 20,404 | 23,122 |
Long-term marketable securities | 23,989 | 18,888 |
Other assets | 97 | 102 |
Total assets | 152,870 | 160,875 |
Current liabilities: | ' | ' |
Accounts payable | 13,825 | 12,983 |
Accrued liabilities | 11,658 | 11,829 |
Accrued compensation | 4,125 | 4,542 |
Customer deposits | 0 | 916 |
Deferred revenue | 10,243 | 6,131 |
Total current liabilities | 39,851 | 36,401 |
Other long-term liabilities | 798 | 943 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $.001 par value, 5,000 shares authorized at June 28, 2014 and December 28, 2013; no shares issued and outstanding at June 28, 2014 and December 28, 2013 | ' | ' |
Common stock, $.001 par value, 100,000 shares authorized at June 28, 2014 and December 28, 2013, 33,423 and 32,712 shares issued and outstanding at June 28, 2014 and December 28, 2013, respectively | 33 | 33 |
Additional paid-in capital | 353,321 | 348,684 |
Accumulated deficit | -240,943 | -224,986 |
Accumulated other comprehensive loss | -190 | -200 |
Total stockholders' equity | 112,221 | 123,531 |
Total liabilities and stockholders' equity | $152,870 | $160,875 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 33,423,000 | 32,712,000 |
Common stock, shares outstanding | 33,423,000 | 32,712,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Net revenue | $47,060 | $52,365 | $88,378 | $98,990 |
Cost of net revenue | 28,987 | 31,646 | 55,562 | 58,454 |
Gross profit | 18,073 | 20,719 | 32,816 | 40,536 |
Operating expense: | ' | ' | ' | ' |
Research and development | 9,095 | 10,476 | 20,479 | 20,640 |
Selling, general and administrative | 14,902 | 10,557 | 28,263 | 21,277 |
Total operating expense | 23,997 | 21,033 | 48,742 | 41,917 |
Loss from operations | -5,924 | -314 | -15,926 | -1,381 |
Interest income (expense), net | 33 | -59 | 68 | -138 |
Other income (expense), net | 44 | -15 | 63 | -49 |
Loss before income taxes | -5,847 | -388 | -15,795 | -1,568 |
Income tax expense | 117 | 60 | 162 | 88 |
Net loss | ($5,964) | ($448) | ($15,957) | ($1,656) |
Net income per share attributable to common stockholders: | ' | ' | ' | ' |
Basic and diluted net loss per share, in dollars per share | ($0.18) | ($0.01) | ($0.48) | ($0.05) |
Shares used to compute net income per share attributable to common stockholders: | ' | ' | ' | ' |
Shares used to compute basic and diluted net loss per share | 33,274 | 32,171 | 33,105 | 32,048 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net loss | ($5,964) | ($448) | ($15,957) | ($1,656) |
Foreign currency translation adjustments | -1 | 10 | -4 | 11 |
Unrealized gain (loss) on marketable securities | 14 | -8 | 14 | 0 |
Comprehensive loss | ($5,951) | ($446) | ($15,947) | ($1,645) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 |
Operating activities | ' | ' |
Net loss | ($15,957) | ($1,656) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 3,596 | 3,104 |
Loss on disposal of property and equipment | 592 | 0 |
Stock-based compensation | 3,966 | 3,126 |
Imputed interest related to deposit arrangements, net | 41 | -60 |
Amortization of premium and discount on investments, net | 153 | 210 |
Cash received for lease incentives | 0 | 135 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -1,183 | -6,780 |
Inventories | 13,558 | -3,191 |
Prepaids and other current and noncurrent assets | -1,760 | 4,236 |
Accounts payable and accrued liabilities | -338 | -11,107 |
Customer deposits | 0 | -11,425 |
Deferred revenue | 4,111 | -4,884 |
Net cash provided by (used in) operating activities | 6,779 | -28,292 |
Investing activities | ' | ' |
Purchase of property and equipment | -891 | -3,900 |
Purchase of marketable securities | -18,153 | -8,882 |
Sale and maturity of marketable securities | 16,040 | 19,718 |
Net cash provided by (used in) investing activities | -3,004 | 6,936 |
Financing activities | ' | ' |
Payments on obligations under capital leases | 0 | -12 |
Payments on customer deposit financing arrangement | -916 | -4,881 |
Proceeds from exercise of stock options | 805 | 734 |
Payments related to net share settlement of equity awards | -134 | 0 |
Net cash used in financing activities | -245 | -4,159 |
Effect of exchange rate changes on cash and cash equivalents | -49 | -1 |
Net change in cash and cash equivalents | 3,481 | -25,516 |
Cash and cash equivalents at beginning of period | 16,249 | 44,106 |
Cash and cash equivalents at end of period | 19,730 | 18,590 |
Supplemental disclosure of non cash financing activities | ' | ' |
Capital lease obligation for capital equipment | 0 | 17 |
Reclassification of restricted stock to equity upon vesting of early exercised options | $0 | $4 |
Organization_and_Summary_of_Si
Organization and Summary of Significant Accounting Policies | 6 Months Ended | |||||||||||
Jun. 28, 2014 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Organization and Summary of Significant Accounting Policies | ' | |||||||||||
Organization and Summary of Significant Accounting Policies | ||||||||||||
The Company | ||||||||||||
Peregrine Semiconductor Corporation (the Company) is a fabless provider of high performance radio frequency integrated circuits (RFICs). The Company’s solutions leverage its proprietary UltraCMOS technology which enables the design, manufacture, and integration of multiple RF, mixed signal, and digital functions on a single chip. The Company’s solutions target a broad range of applications in the space and military, automotive, broadband, industrial, mobile device, test and measurement equipment, and wireless infrastructure markets. | ||||||||||||
Basis of Presentation | ||||||||||||
The accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring items, necessary for a fair presentation of the financial statements for interim periods in accordance with accounting principles generally accepted in the United States (US GAAP). The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and the notes thereto for the fiscal year ended December 28, 2013 included in the Company’s Annual Report on Form 10-K filed on February 19, 2014 with the Securities and Exchange Commission (“SEC”). The Company’s accounting policies are described in the “Notes to consolidated financial statements” in our Form 10-K and updated as necessary, in this Form 10-Q. The year-end condensed consolidated balance sheet data presented for comparative purposes was derived from audited financial statements, but does not include all disclosures required by US GAAP. The results of operations for the three and six months ended June 28, 2014 are not necessarily indicative of the operating results for the full year or for any other subsequent interim period. | ||||||||||||
Principles of Consolidation | ||||||||||||
The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. | ||||||||||||
Accounting Periods | ||||||||||||
The Company uses a 52- or 53-week fiscal year ending on the last Saturday in December. Fiscal year 2013 was a 52-week year ending on December 28, 2013. The Company’s second quarter for fiscal year 2014 and 2013 were 26-week periods ending on June 28, 2014 and June 29, 2013, respectively. | ||||||||||||
Use of Estimates | ||||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements as well as the reported amounts of net revenue and expense during the reporting period. The Company regularly evaluates estimates and assumptions related to areas such as revenue recognition, allowances for doubtful accounts, warranty obligations, inventory valuation, stock-based compensation expense, deferred income tax valuation allowances, litigation and other loss contingencies. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of revenue, costs and expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. | ||||||||||||
Concentration of Credit Risk | ||||||||||||
Financial assets and liabilities, which potentially subject the Company to concentrations of credit risk, consist primarily of cash equivalents, marketable securities, and accounts receivable. The Company limits its exposure to credit loss by placing its cash in high credit quality financial investments. At times, such deposits may be in excess of insured limits. The Company has not experienced any significant losses on its investments. | ||||||||||||
Customers that exceed 10% of total net revenue were as follows: | ||||||||||||
Three Months Ended | Six Months Ended | |||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Macnica | 48 | % | 71 | % | 41 | % | 68 | % | ||||
Murata | 21 | % | * | 24 | % | * | ||||||
Richardson | 12 | % | 10 | % | 14 | % | 13 | % | ||||
* Did not exceed 10% of total revenues for the respective period. | ||||||||||||
A significant portion of the Company's net revenue is derived from a limited number of distributors, in particular, Macnica and Richardson. Historically, the majority of sales through the Company's distributor, Macnica, were to module manufacturer Murata. The decrease in Macnica sales during the three and six months ended June 28, 2014 was due to the Company beginning to sell directly to Murata. | ||||||||||||
Fair Value of Financial Instruments | ||||||||||||
The Company applies fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company’s financial instruments consist principally of cash and cash equivalents and marketable securities. The fair value of a financial instrument is the amount that would be received in an asset sale or paid to transfer a liability in an orderly transaction between unaffiliated market participants. Assets and liabilities measured at fair value are categorized based on whether or not the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial instruments within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is prioritized into three levels (with Level 3 being the lowest) defined as follows: | ||||||||||||
Level 1: Inputs are based on quoted market prices for identical assets or liabilities in active markets at the measurement date. | ||||||||||||
Level 2: Inputs include quoted prices for similar assets or liabilities in active markets and/or quoted prices for identical or similar assets or liabilities in markets that are not active near the measurement date. | ||||||||||||
Level 3: Inputs include management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The inputs are unobservable in the market and significant to the instrument’s valuation. | ||||||||||||
The fair value of the Company’s cash equivalents was determined based on “Level 1” inputs. The fair value of marketable securities was determined based on “Level 2” inputs. The fair value of the Company’s “Level 2” instruments were valued based on the market approach technique which uses quoted market prices or model driven valuations using significant inputs derived from or corroborated by observable market data. The Company does not have any marketable securities in the “Level 3” category. The Company believes that the recorded values of all of the other financial assets and liabilities approximate their current fair values because of maturity and respective duration of these assets and liabilities. | ||||||||||||
Warranty Accrual | ||||||||||||
The Company generally provides a product warranty for a period of one year; however, it may be longer for certain customers. Accordingly, the Company establishes provisions for estimated product warranty costs at the time net revenue is recognized based upon historical activity and, additionally, for any known product warranty issues. Warranty provisions are recorded as a cost of net revenue. The determination of such provisions requires the Company to make estimates of product return rates and expected costs to replace or rework the products under warranty. When the actual product failure rates, cost of replacements and rework costs differ from the original estimates, revisions to the estimated warranty accrual are made. Actual claims are charged against the warranty reserve. | ||||||||||||
Recent Accounting Pronouncements | ||||||||||||
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. ASU 2014-09 will be effective for the Company beginning in its first quarter of 2017. Early adoption is not permitted. The new revenue 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 is currently evaluating the impact of adopting the new revenue standard on its consolidated financial statements and whether it will be adopted retrospectively to each period presented or with the cumulative effect as of the date of adoption. |
Net_Loss_per_Share
Net Loss per Share | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Net Loss per Share | ' | |||||||||||||||
Net Loss per Share | ||||||||||||||||
Basic net loss per share is calculated by dividing net loss attributable to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is calculated on the basis of the weighted-average number of shares of common stock including the effect of potential dilution that could occur if securities to issue common stock were exercised or converted into common stock. | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator: | ||||||||||||||||
Net loss | $ | (5,964 | ) | $ | (448 | ) | $ | (15,957 | ) | $ | (1,656 | ) | ||||
Denominator: | ||||||||||||||||
Weighted average common shares outstanding | 33,274 | 32,171 | 33,105 | 32,051 | ||||||||||||
Less: weighted average unvested shares of common stock subject to repurchase | — | — | — | 3 | ||||||||||||
Weighted average common shares used in computing basic and diluted net loss per share | 33,274 | 32,171 | 33,105 | 32,048 | ||||||||||||
Basic and diluted net loss per share | $ | (0.18 | ) | $ | (0.01 | ) | $ | (0.48 | ) | $ | (0.05 | ) | ||||
Historical outstanding anti-dilutive securities not included in diluted net loss per share calculation: | ||||||||||||||||
Common stock options and awards | 8,475 | 8,550 | 8,475 | 8,550 | ||||||||||||
Common stock warrants | 2 | 2 | 2 | 2 | ||||||||||||
8,477 | 8,552 | 8,477 | 8,552 | |||||||||||||
Certain_Financial_Statement_In
Certain Financial Statement Information | 6 Months Ended | |||||||||
Jun. 28, 2014 | ||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||
Certain Financial Statement Information | ' | |||||||||
Certain Financial Statement Information | ||||||||||
Inventories consisted of the following: | ||||||||||
June 28, | December 28, | |||||||||
2014 | 2013 | |||||||||
Raw materials | $ | 13,298 | $ | 22,265 | ||||||
Work in progress | 20,824 | 22,100 | ||||||||
Finished goods | 5,843 | 9,124 | ||||||||
$ | 39,965 | $ | 53,489 | |||||||
During the six months ended June 28, 2014, the Company recorded inventory write-downs of $2,669 related to excess and obsolete inventory and reductions to the carrying value of inventories as a result of a lower of cost or market valuations. These write-downs were the result of changes in customer forecasted demand from one of the Company's distributors and due to additional selling price reductions that the Company believes were necessary to respond to competitive pricing pressures for certain products. These inventory reductions were recorded in cost of net revenues. During the six months ended June 29, 2013, the inventory write-downs were not material. | ||||||||||
Included in the table are inventories held by others, which include distributors and third-parties in the Company’s supply chain of $7,550 and $7,874 at June 28, 2014 and December 28, 2013, respectively. | ||||||||||
Property and equipment consist of the following: | ||||||||||
Useful Life | June 28, | December 28, | ||||||||
(Years) | 2014 | 2013 | ||||||||
Computer equipment and software | 3 - 5 | $ | 6,736 | $ | 6,390 | |||||
Machinery and equipment | 5 | 41,541 | 40,427 | |||||||
Office furniture and equipment | 7 | 789 | 1,081 | |||||||
Leasehold improvements | * | 4,896 | 5,180 | |||||||
Construction in progress | 1,377 | 1,544 | ||||||||
55,339 | 54,622 | |||||||||
Less accumulated depreciation and amortization | (34,935 | ) | (31,500 | ) | ||||||
$ | 20,404 | $ | 23,122 | |||||||
* Leasehold improvements are amortized over the estimated life of the asset or remaining term of the lease, whichever is shorter. | ||||||||||
Depreciation and amortization expense was $1,779 and $1,604 for the three months ended June 28, 2014 and June 29, 2013 and $3,596 and $3,104 for the six months ended June 28, 2014 and June 29, 2013, respectively. | ||||||||||
Accrued liabilities consisted of the following: | ||||||||||
June 28, | December 28, | |||||||||
2014 | 2013 | |||||||||
Accrued inventory purchases | $ | 462 | $ | 1,717 | ||||||
Accrued inventory repurchase obligation | 4,187 | 6,510 | ||||||||
Accrued professional fees | 4,382 | 1,210 | ||||||||
Accrued other | 2,627 | 2,392 | ||||||||
$ | 11,658 | $ | 11,829 | |||||||
Accrued inventory repurchase obligation represents raw materials sold to suppliers for processing. These raw materials remain part of the Company’s total inventory and the transactions include only customary terms and conditions, such as shipping and payment terms. | ||||||||||
Warranty | ||||||||||
Warranty costs, which include labor and material, incurred and related reserves (included in accrued liabilities) were as follows: | ||||||||||
Six Months Ended | ||||||||||
June 28, | June 29, | |||||||||
2014 | 2013 | |||||||||
Balance at beginning of period | $ | 159 | $ | 57 | ||||||
Provision, net | 546 | 650 | ||||||||
Costs incurred | (118 | ) | (176 | ) | ||||||
Balance at end of period | $ | 587 | $ | 531 | ||||||
Financial_Instruments
Financial Instruments | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||||||||||
Investments, All Other Investments [Abstract] | ' | |||||||||||||||||||||||||||
Financial Instruments | ' | |||||||||||||||||||||||||||
Financial Instruments | ||||||||||||||||||||||||||||
The following tables show the Company’s cash and marketable securities’ cost, unrealized gains, unrealized losses and fair value by significant investment category measured at fair value on a recurring basis and recorded as cash and cash equivalents or short- and long-term marketable securities as of June 28, 2014: | ||||||||||||||||||||||||||||
June 28, 2014 | ||||||||||||||||||||||||||||
Reported as | ||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | Cash and | Short-Term | Long-Term | ||||||||||||||||||||||
Gains | Losses | Value | Cash | Marketable | Marketable | |||||||||||||||||||||||
Equivalents | Securities | Securities | ||||||||||||||||||||||||||
Cash | $ | 4,244 | $ | — | $ | — | $ | 4,244 | $ | 4,244 | $ | — | $ | — | ||||||||||||||
Level 1: | ||||||||||||||||||||||||||||
Money market funds | 15,486 | — | — | 15,486 | 15,486 | — | — | |||||||||||||||||||||
Subtotal | 15,486 | — | — | 15,486 | 15,486 | — | — | |||||||||||||||||||||
Level 2: | ||||||||||||||||||||||||||||
U.S. Agency securities | 23,830 | 8 | (4 | ) | 23,834 | — | 11,185 | 12,649 | ||||||||||||||||||||
Certificates of deposit | 9,280 | 3 | (4 | ) | 9,279 | — | 6,399 | 2,880 | ||||||||||||||||||||
Commercial paper | 1,000 | — | — | 1,000 | — | 1,000 | — | |||||||||||||||||||||
Corporate notes and bonds | 14,756 | 16 | (5 | ) | 14,767 | — | 6,307 | 8,460 | ||||||||||||||||||||
Subtotal | 48,866 | 27 | (13 | ) | 48,880 | — | 24,891 | 23,989 | ||||||||||||||||||||
Total | $ | 68,596 | $ | 27 | $ | (13 | ) | $ | 68,610 | $ | 19,730 | $ | 24,891 | $ | 23,989 | |||||||||||||
There were no transfers between Level 1, Level 2 or Level 3 securities in the six months ended June 28, 2014. All of the long-term marketable securities had remaining maturities of between one and two years in duration at June 28, 2014. | ||||||||||||||||||||||||||||
As of June 28, 2014, the Company had 26 investments in marketable securities with a fair value of $15,802 that were in an unrealized loss position of $13 for less than 12 months. The Company considers the declines in market value of its marketable securities investment portfolio to be temporary in nature and does not consider any of its investments other-than-temporarily impaired. When evaluating an investment for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below its cost basis, the financial condition of the issuer and any changes thereto, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell the investment before recovery of the investment’s cost basis. | ||||||||||||||||||||||||||||
The following table presents a summary of the Company’s financial instruments that are measured on a recurring basis as of December 28, 2013: | ||||||||||||||||||||||||||||
28-Dec-13 | ||||||||||||||||||||||||||||
Reported as | ||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | Cash and | Short-Term | Long-Term | ||||||||||||||||||||||
Gains | Losses | Value | Cash | Marketable | Marketable | |||||||||||||||||||||||
Equivalents | Securities | Securities | ||||||||||||||||||||||||||
Cash | $ | 7,023 | $ | — | $ | — | $ | 7,023 | $ | 7,023 | $ | — | $ | — | ||||||||||||||
Level 1: | ||||||||||||||||||||||||||||
Money market funds | 9,226 | — | — | 9,226 | 9,226 | — | — | |||||||||||||||||||||
Subtotal | 9,226 | — | — | 9,226 | 9,226 | — | — | |||||||||||||||||||||
Level 2: | ||||||||||||||||||||||||||||
U.S. Agency securities | 22,929 | 4 | (3 | ) | 22,930 | — | 15,929 | 7,001 | ||||||||||||||||||||
Certificates of deposit | 8,840 | 4 | (10 | ) | 8,834 | — | 5,959 | 2,875 | ||||||||||||||||||||
Commercial paper | 998 | — | (1 | ) | 997 | — | 997 | — | ||||||||||||||||||||
Corporate notes and bonds | 14,156 | 9 | (3 | ) | 14,162 | — | 5,150 | 9,012 | ||||||||||||||||||||
Subtotal | 46,923 | 17 | (17 | ) | 46,923 | — | 28,035 | 18,888 | ||||||||||||||||||||
Total | $ | 63,172 | $ | 17 | $ | (17 | ) | $ | 63,172 | $ | 16,249 | $ | 28,035 | $ | 18,888 | |||||||||||||
There were no transfers between Level 1, Level 2 or Level 3 securities in the year ended December 28, 2013. |
StockBased_Compensation
Stock-Based Compensation | 6 Months Ended | ||||||||||||||||
Jun. 28, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
Stock-Based Compensation | |||||||||||||||||
Stock Options Awards. During the three and six months ended June 28, 2014, the Company granted 167 and 916 non-qualified stock options to employees and directors, respectively. The Company uses the Black-Scholes valuation model to calculate the fair value of stock options. The fair value of stock options was estimated at the grant date using the following weighted-average assumptions: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Expected term (years) | 5 | 5 | 5 | 5 | |||||||||||||
Risk-free interest rate | 1.65 | % | 0.65 | % | 1.58 | % | 0.68 | % | |||||||||
Dividend rate | — | — | — | — | |||||||||||||
Volatility | 44 | % | 61 | % | 46 | % | 61 | % | |||||||||
Forfeiture rate | 4 | % | 3 | % | 4 | % | 3 | % | |||||||||
Estimated fair value per stock option | $ | 2.37 | $ | 4.97 | $ | 2.42 | $ | 5.13 | |||||||||
The risk-free interest rate assumption was based on the U.S. Treasury’s rates for U.S. Treasury constant maturities similar to those of the expected term of the award being valued. The assumed dividend yield was based on the Company’s expectation of not paying dividends in the foreseeable future. The Company utilizes data of peer companies to determine the weighted average expected term, as peer companies are representative of the Company's expected term. In addition, due to the Company’s limited historical data, the estimated volatility incorporates the historical volatility of comparable companies whose share prices are publicly available. | |||||||||||||||||
Restricted Stock Unit Awards. During the three and six months ended June 28, 2014, the Company granted 0 and 523 restricted stock units (RSUs) to employees, respectively. The Company uses the grant date fair value, which is calculated by multiplying the number of shares subject to the stock award by the closing price of one share of Common Stock on the date of grant. | |||||||||||||||||
The following summarizes stock plan activity for the six months ended June 28, 2014: | |||||||||||||||||
Stock Options | Restricted Stock Units | ||||||||||||||||
Available for Grant | Number of Shares | Weighted Average Exercise Price | Number of Shares | Weighted Average Grant Date Fair Value | |||||||||||||
Balance at December 28, 2013 | 2,787 | 8,227 | $ | 6.71 | — | $ | — | ||||||||||
Shares added | 1,308 | — | — | — | — | ||||||||||||
Granted | (1,438 | ) | 915 | 5.83 | 523 | 5.81 | |||||||||||
Exercised | — | (676 | ) | 1.19 | — | — | |||||||||||
Released | — | — | — | (57 | ) | — | |||||||||||
Canceled | 457 | (435 | ) | 10.83 | (22 | ) | 5.81 | ||||||||||
Shares withheld under net shares settlement of equity awards | 23 | — | — | — | — | ||||||||||||
Balance at June 28, 2014 | 3,137 | 8,031 | $ | 6.85 | 444 | $ | 5.81 | ||||||||||
Total stock-based compensation expense recognized during the three and six months ended June 28, 2014 and June 29, 2013 was comprised of the following: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Cost of net revenue | $ | 272 | $ | 218 | $ | 530 | $ | 414 | |||||||||
Research and development | 559 | 480 | 1,295 | 997 | |||||||||||||
Selling, general and administrative | 1,031 | 962 | 2,141 | 1,715 | |||||||||||||
$ | 1,862 | $ | 1,660 | $ | 3,966 | $ | 3,126 | ||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 28, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
Legal Proceedings | |
On February 14, 2012, the Company filed a lawsuit in the U.S. District Court for the Central District of California, which was subsequently moved to the U.S. District Court for the Southern District of California. The action alleged the infringement of five of the Company’s patents relating to RFICs and switching technology by RF Micro Devices, Inc. (RFMD). The lawsuit alleged that certain of RFMD’s products infringe the Company’s patents relating to silicon on insulator (SOI) design technology for RFICs and sought, in addition to damages, to permanently enjoin RFMD from further infringement. On March 26, 2013, the Company filed an additional lawsuit against RFMD in the U.S. District Court for the Southern District of California which alleged infringement of a sixth patent relating to RFICs and switching technology by RFMD. On April 25, 2013, the Company consolidated these two U.S. District Court actions into one lawsuit. On September 27, 2013, the U.S. District Court set a trial date for November 12, 2014 and, as a result of various consolidating actions and motions, the Company planned to assert two patents against RFMD at the trial. In addition, on December 12, 2013, RFMD filed a counterclaim alleging the Company violated a patent owned or licensed by RFMD. On July 22, 2014, the Company favorably settled all outstanding claims with RFMD and entered into a patent cross license agreement. | |
On November 14, 2013, representatives of the U.S. Department of Homeland Security (DHS), in collaboration with the United States Attorney’s Office for the Southern District of California (USAO), executed a federal search warrant at the Company's San Diego facilities in connection with an investigation into exports and temporary imports of certain products sold in the aerospace market. The Company is cooperating fully with the USAO and DHS officials. No claims have been asserted and no amounts have been accrued for this contingency in the consolidated financial statements. | |
The U.S. Department of State, Office of Defense Trade Controls Compliance (USDS), is conducting a review of the Company’s compliance with the Arms Export Control Act (AECA) and the AECA’s implementation of International Traffic In Arms Regulations (ITAR). The Company is cooperating fully with the review and, on April 11, 2014, the Company submitted information requested by USDS. The USDS has not responded to date. Based on this review the Company could be subject to continued investigation and potential regulatory consequences related to violations of the AECA ranging from a no-action letter, government oversight of facilities and export transactions, monetary penalties of up to $500 per violation, and in certain cases, debarment from government contracting, denial of export privileges, and criminal penalties. No claims have been asserted and no amounts have been accrued for this contingency in the consolidated financial statements. Furthermore, due to the preliminary nature of the investigation and the USDS review, the Company believes it is not possible to estimate the likelihood of an unfavorable outcome or the possible loss or range of losses in the event of an unfavorable outcome. Responding to this investigation and review is costly and could impose a significant burden on management and employees. The Company may receive unfavorable interim rulings in the course of this review and there can be no assurance that a favorable outcome will ultimately be obtained. | |
From time to time, the Company is subject to various claims and suits arising in the ordinary course of business, including commercial, employment and environmental matters. The Company does not expect that the resolution of these matters will have a material adverse effect on its consolidated financial position or results of operations. |
Income_Taxes
Income Taxes | 6 Months Ended |
Jun. 28, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
The Company recorded an income tax expense for the three and six months ended June 28, 2014 of $117 and $162, respectively, which consisted primarily of current foreign taxes. The Company recorded income tax expense of $60 and $88 for the three and six months ended June 29, 2013, respectively. Income tax expense for the three and six month months ended June 29, 2013 consisted primarily of current foreign taxes. |
Supply_and_Prepayment_Agreemen
Supply and Prepayment Agreement | 6 Months Ended |
Jun. 28, 2014 | |
Payables and Accruals [Abstract] | ' |
Supply and Prepayment Agreement | ' |
Supply and Prepayment Agreement | |
In March 2012, the Company entered into a supply and prepayment agreement with Murata. The agreement was for an initial term of 18 months. Under the terms of the agreement, Murata paid the Company a total deposit of $13,000, which was included in customer deposits. As of December 28, 2013, the Company repaid $12,084 in deposits under the supply and prepayment agreement to Murata. During the six months ended June 28, 2014, the Company made the final payment of $916 resulting in no remaining balance as of June 28, 2014. | |
During 2013, the Company received prepayments on purchases made by Macnica, which were applied against outstanding accounts receivable balances. There are no remaining prepayments as of June 28, 2014 as the agreement concluded on March 31, 2013 and the deposit was fully utilized in April of 2013. | |
During 2012, the Company paid $4,000 in deposits to suppliers to support production levels. During the six months ended June 28, 2014, the Company received the final $245 in deposit repayments from suppliers resulting in no remaining balance as of June 28, 2014. |
Restructuring
Restructuring | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||
Restructuring | ' | |||||||||||||||
Restructuring | ||||||||||||||||
During December 2013 and January 2014, the Company approved a restructuring plan to reduce operating expenses. These actions included a consolidation of office locations and a reduction in employees across the Company’s operations. The restructuring was driven by long-term strategic and operational decisions. | ||||||||||||||||
The following table summarizes the restructuring activity and related accrual at June 28, 2014: | ||||||||||||||||
Balance at December 28, 2013 | Current Charges | Cash Payments/Utilization | Balance at June 28, 2014 | |||||||||||||
Employee termination benefits | $ | 418 | $ | 1,416 | $ | (1,834 | ) | $ | — | |||||||
Lease and other contract termination costs | 38 | 209 | (247 | ) | — | |||||||||||
Loss on disposal of property and equipment | — | 337 | (337 | ) | — | |||||||||||
Total | $ | 456 | $ | 1,962 | $ | (2,418 | ) | $ | — | |||||||
During the six months ended June 28, 2014, the Company recorded restructuring expense of $55 in cost of net revenues, $1,106 in research and development, and $801 in selling, general and administrative. |
Organization_and_Summary_of_Si1
Organization and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 28, 2014 | |
Accounting Policies [Abstract] | ' |
The Company | ' |
The Company | |
Peregrine Semiconductor Corporation (the Company) is a fabless provider of high performance radio frequency integrated circuits (RFICs). The Company’s solutions leverage its proprietary UltraCMOS technology which enables the design, manufacture, and integration of multiple RF, mixed signal, and digital functions on a single chip. The Company’s solutions target a broad range of applications in the space and military, automotive, broadband, industrial, mobile device, test and measurement equipment, and wireless infrastructure markets. | |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring items, necessary for a fair presentation of the financial statements for interim periods in accordance with accounting principles generally accepted in the United States (US GAAP). The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and the notes thereto for the fiscal year ended December 28, 2013 included in the Company’s Annual Report on Form 10-K filed on February 19, 2014 with the Securities and Exchange Commission (“SEC”). The Company’s accounting policies are described in the “Notes to consolidated financial statements” in our Form 10-K and updated as necessary, in this Form 10-Q. The year-end condensed consolidated balance sheet data presented for comparative purposes was derived from audited financial statements, but does not include all disclosures required by US GAAP. The results of operations for the three and six months ended June 28, 2014 are not necessarily indicative of the operating results for the full year or for any other subsequent interim period. | |
Principles of Consolidation | ' |
Principles of Consolidation | |
The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. | |
Accounting Periods | ' |
Accounting Periods | |
The Company uses a 52- or 53-week fiscal year ending on the last Saturday in December. Fiscal year 2013 was a 52-week year ending on December 28, 2013. The Company’s second quarter for fiscal year 2014 and 2013 were 26-week periods ending on June 28, 2014 and June 29, 2013, respectively. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements as well as the reported amounts of net revenue and expense during the reporting period. The Company regularly evaluates estimates and assumptions related to areas such as revenue recognition, allowances for doubtful accounts, warranty obligations, inventory valuation, stock-based compensation expense, deferred income tax valuation allowances, litigation and other loss contingencies. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of revenue, costs and expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. | |
Concentration of Credit Risk | ' |
Concentration of Credit Risk | |
Financial assets and liabilities, which potentially subject the Company to concentrations of credit risk, consist primarily of cash equivalents, marketable securities, and accounts receivable. The Company limits its exposure to credit loss by placing its cash in high credit quality financial investments. At times, such deposits may be in excess of insured limits. The Company has not experienced any significant losses on its investments. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The Company applies fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company’s financial instruments consist principally of cash and cash equivalents and marketable securities. The fair value of a financial instrument is the amount that would be received in an asset sale or paid to transfer a liability in an orderly transaction between unaffiliated market participants. Assets and liabilities measured at fair value are categorized based on whether or not the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial instruments within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is prioritized into three levels (with Level 3 being the lowest) defined as follows: | |
Level 1: Inputs are based on quoted market prices for identical assets or liabilities in active markets at the measurement date. | |
Level 2: Inputs include quoted prices for similar assets or liabilities in active markets and/or quoted prices for identical or similar assets or liabilities in markets that are not active near the measurement date. | |
Level 3: Inputs include management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The inputs are unobservable in the market and significant to the instrument’s valuation. | |
The fair value of the Company’s cash equivalents was determined based on “Level 1” inputs. The fair value of marketable securities was determined based on “Level 2” inputs. The fair value of the Company’s “Level 2” instruments were valued based on the market approach technique which uses quoted market prices or model driven valuations using significant inputs derived from or corroborated by observable market data. The Company does not have any marketable securities in the “Level 3” category. The Company believes that the recorded values of all of the other financial assets and liabilities approximate their current fair values because of maturity and respective duration of these assets and liabilities. | |
Warranty Accrual | ' |
Warranty Accrual | |
The Company generally provides a product warranty for a period of one year; however, it may be longer for certain customers. Accordingly, the Company establishes provisions for estimated product warranty costs at the time net revenue is recognized based upon historical activity and, additionally, for any known product warranty issues. Warranty provisions are recorded as a cost of net revenue. The determination of such provisions requires the Company to make estimates of product return rates and expected costs to replace or rework the products under warranty. When the actual product failure rates, cost of replacements and rework costs differ from the original estimates, revisions to the estimated warranty accrual are made. Actual claims are charged against the warranty reserve. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. ASU 2014-09 will be effective for the Company beginning in its first quarter of 2017. Early adoption is not permitted. The new revenue 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 is currently evaluating the impact of adopting the new revenue standard on its consolidated financial statements and whether it will be adopted retrospectively to each period presented or with the cumulative effect as of the date of adoption. |
Organization_and_Summary_of_Si2
Organization and Summary of Significant Accounting Policies (Tables) | 6 Months Ended | |||||||||||
Jun. 28, 2014 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Customers that Exceed 10% of Total Net Revenue | ' | |||||||||||
Customers that exceed 10% of total net revenue were as follows: | ||||||||||||
Three Months Ended | Six Months Ended | |||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Macnica | 48 | % | 71 | % | 41 | % | 68 | % | ||||
Murata | 21 | % | * | 24 | % | * | ||||||
Richardson | 12 | % | 10 | % | 14 | % | 13 | % | ||||
* Did not exceed 10% of total revenues for the respective period. |
Net_Loss_per_Share_Tables
Net Loss per Share (Tables) | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Net Loss per Share | ' | |||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator: | ||||||||||||||||
Net loss | $ | (5,964 | ) | $ | (448 | ) | $ | (15,957 | ) | $ | (1,656 | ) | ||||
Denominator: | ||||||||||||||||
Weighted average common shares outstanding | 33,274 | 32,171 | 33,105 | 32,051 | ||||||||||||
Less: weighted average unvested shares of common stock subject to repurchase | — | — | — | 3 | ||||||||||||
Weighted average common shares used in computing basic and diluted net loss per share | 33,274 | 32,171 | 33,105 | 32,048 | ||||||||||||
Basic and diluted net loss per share | $ | (0.18 | ) | $ | (0.01 | ) | $ | (0.48 | ) | $ | (0.05 | ) | ||||
Historical outstanding anti-dilutive securities not included in diluted net loss per share calculation: | ||||||||||||||||
Common stock options and awards | 8,475 | 8,550 | 8,475 | 8,550 | ||||||||||||
Common stock warrants | 2 | 2 | 2 | 2 | ||||||||||||
8,477 | 8,552 | 8,477 | 8,552 | |||||||||||||
Certain_Financial_Statement_In1
Certain Financial Statement Information (Tables) | 6 Months Ended | |||||||||
Jun. 28, 2014 | ||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||
Inventories | ' | |||||||||
Inventories consisted of the following: | ||||||||||
June 28, | December 28, | |||||||||
2014 | 2013 | |||||||||
Raw materials | $ | 13,298 | $ | 22,265 | ||||||
Work in progress | 20,824 | 22,100 | ||||||||
Finished goods | 5,843 | 9,124 | ||||||||
$ | 39,965 | $ | 53,489 | |||||||
Property and Equipment | ' | |||||||||
Property and equipment consist of the following: | ||||||||||
Useful Life | June 28, | December 28, | ||||||||
(Years) | 2014 | 2013 | ||||||||
Computer equipment and software | 3 - 5 | $ | 6,736 | $ | 6,390 | |||||
Machinery and equipment | 5 | 41,541 | 40,427 | |||||||
Office furniture and equipment | 7 | 789 | 1,081 | |||||||
Leasehold improvements | * | 4,896 | 5,180 | |||||||
Construction in progress | 1,377 | 1,544 | ||||||||
55,339 | 54,622 | |||||||||
Less accumulated depreciation and amortization | (34,935 | ) | (31,500 | ) | ||||||
$ | 20,404 | $ | 23,122 | |||||||
* Leasehold improvements are amortized over the estimated life of the asset or remaining term of the lease, whichever is shorter. | ||||||||||
Accrued Liabilities | ' | |||||||||
Accrued liabilities consisted of the following: | ||||||||||
June 28, | December 28, | |||||||||
2014 | 2013 | |||||||||
Accrued inventory purchases | $ | 462 | $ | 1,717 | ||||||
Accrued inventory repurchase obligation | 4,187 | 6,510 | ||||||||
Accrued professional fees | 4,382 | 1,210 | ||||||||
Accrued other | 2,627 | 2,392 | ||||||||
$ | 11,658 | $ | 11,829 | |||||||
Warranty Costs | ' | |||||||||
Warranty costs, which include labor and material, incurred and related reserves (included in accrued liabilities) were as follows: | ||||||||||
Six Months Ended | ||||||||||
June 28, | June 29, | |||||||||
2014 | 2013 | |||||||||
Balance at beginning of period | $ | 159 | $ | 57 | ||||||
Provision, net | 546 | 650 | ||||||||
Costs incurred | (118 | ) | (176 | ) | ||||||
Balance at end of period | $ | 587 | $ | 531 | ||||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||||||||||
Investments, All Other Investments [Abstract] | ' | |||||||||||||||||||||||||||
Cash and Marketable Securities' Cost, Unrealized Gains, Unrealized Losses and Fair Value by Significant Investment | ' | |||||||||||||||||||||||||||
The following table presents a summary of the Company’s financial instruments that are measured on a recurring basis as of December 28, 2013: | ||||||||||||||||||||||||||||
28-Dec-13 | ||||||||||||||||||||||||||||
Reported as | ||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | Cash and | Short-Term | Long-Term | ||||||||||||||||||||||
Gains | Losses | Value | Cash | Marketable | Marketable | |||||||||||||||||||||||
Equivalents | Securities | Securities | ||||||||||||||||||||||||||
Cash | $ | 7,023 | $ | — | $ | — | $ | 7,023 | $ | 7,023 | $ | — | $ | — | ||||||||||||||
Level 1: | ||||||||||||||||||||||||||||
Money market funds | 9,226 | — | — | 9,226 | 9,226 | — | — | |||||||||||||||||||||
Subtotal | 9,226 | — | — | 9,226 | 9,226 | — | — | |||||||||||||||||||||
Level 2: | ||||||||||||||||||||||||||||
U.S. Agency securities | 22,929 | 4 | (3 | ) | 22,930 | — | 15,929 | 7,001 | ||||||||||||||||||||
Certificates of deposit | 8,840 | 4 | (10 | ) | 8,834 | — | 5,959 | 2,875 | ||||||||||||||||||||
Commercial paper | 998 | — | (1 | ) | 997 | — | 997 | — | ||||||||||||||||||||
Corporate notes and bonds | 14,156 | 9 | (3 | ) | 14,162 | — | 5,150 | 9,012 | ||||||||||||||||||||
Subtotal | 46,923 | 17 | (17 | ) | 46,923 | — | 28,035 | 18,888 | ||||||||||||||||||||
Total | $ | 63,172 | $ | 17 | $ | (17 | ) | $ | 63,172 | $ | 16,249 | $ | 28,035 | $ | 18,888 | |||||||||||||
The following tables show the Company’s cash and marketable securities’ cost, unrealized gains, unrealized losses and fair value by significant investment category measured at fair value on a recurring basis and recorded as cash and cash equivalents or short- and long-term marketable securities as of June 28, 2014: | ||||||||||||||||||||||||||||
June 28, 2014 | ||||||||||||||||||||||||||||
Reported as | ||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | Cash and | Short-Term | Long-Term | ||||||||||||||||||||||
Gains | Losses | Value | Cash | Marketable | Marketable | |||||||||||||||||||||||
Equivalents | Securities | Securities | ||||||||||||||||||||||||||
Cash | $ | 4,244 | $ | — | $ | — | $ | 4,244 | $ | 4,244 | $ | — | $ | — | ||||||||||||||
Level 1: | ||||||||||||||||||||||||||||
Money market funds | 15,486 | — | — | 15,486 | 15,486 | — | — | |||||||||||||||||||||
Subtotal | 15,486 | — | — | 15,486 | 15,486 | — | — | |||||||||||||||||||||
Level 2: | ||||||||||||||||||||||||||||
U.S. Agency securities | 23,830 | 8 | (4 | ) | 23,834 | — | 11,185 | 12,649 | ||||||||||||||||||||
Certificates of deposit | 9,280 | 3 | (4 | ) | 9,279 | — | 6,399 | 2,880 | ||||||||||||||||||||
Commercial paper | 1,000 | — | — | 1,000 | — | 1,000 | — | |||||||||||||||||||||
Corporate notes and bonds | 14,756 | 16 | (5 | ) | 14,767 | — | 6,307 | 8,460 | ||||||||||||||||||||
Subtotal | 48,866 | 27 | (13 | ) | 48,880 | — | 24,891 | 23,989 | ||||||||||||||||||||
Total | $ | 68,596 | $ | 27 | $ | (13 | ) | $ | 68,610 | $ | 19,730 | $ | 24,891 | $ | 23,989 | |||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 28, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Fair Value of Stock Options Estimated at Grant Date | ' | ||||||||||||||||
The fair value of stock options was estimated at the grant date using the following weighted-average assumptions: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Expected term (years) | 5 | 5 | 5 | 5 | |||||||||||||
Risk-free interest rate | 1.65 | % | 0.65 | % | 1.58 | % | 0.68 | % | |||||||||
Dividend rate | — | — | — | — | |||||||||||||
Volatility | 44 | % | 61 | % | 46 | % | 61 | % | |||||||||
Forfeiture rate | 4 | % | 3 | % | 4 | % | 3 | % | |||||||||
Estimated fair value per stock option | $ | 2.37 | $ | 4.97 | $ | 2.42 | $ | 5.13 | |||||||||
Share-based Compensation Activity | ' | ||||||||||||||||
The following summarizes stock plan activity for the six months ended June 28, 2014: | |||||||||||||||||
Stock Options | Restricted Stock Units | ||||||||||||||||
Available for Grant | Number of Shares | Weighted Average Exercise Price | Number of Shares | Weighted Average Grant Date Fair Value | |||||||||||||
Balance at December 28, 2013 | 2,787 | 8,227 | $ | 6.71 | — | $ | — | ||||||||||
Shares added | 1,308 | — | — | — | — | ||||||||||||
Granted | (1,438 | ) | 915 | 5.83 | 523 | 5.81 | |||||||||||
Exercised | — | (676 | ) | 1.19 | — | — | |||||||||||
Released | — | — | — | (57 | ) | — | |||||||||||
Canceled | 457 | (435 | ) | 10.83 | (22 | ) | 5.81 | ||||||||||
Shares withheld under net shares settlement of equity awards | 23 | — | — | — | — | ||||||||||||
Balance at June 28, 2014 | 3,137 | 8,031 | $ | 6.85 | 444 | $ | 5.81 | ||||||||||
Components of Total Stock- Based Compensation Expense Recognized | ' | ||||||||||||||||
Total stock-based compensation expense recognized during the three and six months ended June 28, 2014 and June 29, 2013 was comprised of the following: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Cost of net revenue | $ | 272 | $ | 218 | $ | 530 | $ | 414 | |||||||||
Research and development | 559 | 480 | 1,295 | 997 | |||||||||||||
Selling, general and administrative | 1,031 | 962 | 2,141 | 1,715 | |||||||||||||
$ | 1,862 | $ | 1,660 | $ | 3,966 | $ | 3,126 | ||||||||||
Restructuring_Tables
Restructuring (Tables) | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||
Restructuring and Related Costs | ' | |||||||||||||||
The following table summarizes the restructuring activity and related accrual at June 28, 2014: | ||||||||||||||||
Balance at December 28, 2013 | Current Charges | Cash Payments/Utilization | Balance at June 28, 2014 | |||||||||||||
Employee termination benefits | $ | 418 | $ | 1,416 | $ | (1,834 | ) | $ | — | |||||||
Lease and other contract termination costs | 38 | 209 | (247 | ) | — | |||||||||||
Loss on disposal of property and equipment | — | 337 | (337 | ) | — | |||||||||||
Total | $ | 456 | $ | 1,962 | $ | (2,418 | ) | $ | — | |||||||
Organization_and_Summary_of_Si3
Organization and Summary of Significant Accounting Policies - Customers that Exceed 10% of Total Net Revenue (Detail) (Total net revenue) | 3 Months Ended | 6 Months Ended | ||
Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | |
Macnica | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Net revenue, contribution by customers | 48.00% | 71.00% | 41.00% | 68.00% |
Murata | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Net revenue, contribution by customers | 21.00% | ' | 24.00% | ' |
Richardson | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Net revenue, contribution by customers | 12.00% | 10.00% | 14.00% | 13.00% |
Organization_and_Summary_of_Si4
Organization and Summary of Significant Accounting Policies - Warranty (Detail) | 6 Months Ended |
Jun. 28, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Product warranty period | '1 year |
Net_Loss_per_Share_Detail
Net Loss per Share (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Numerator: | ' | ' | ' | ' |
Net loss | ($5,964) | ($448) | ($15,957) | ($1,656) |
Denominator: | ' | ' | ' | ' |
Weighted average common shares outstanding | 33,274 | 32,171 | 33,105 | 32,051 |
Less: weighted average unvested shares of common stock subject to repurchase | 0 | 0 | 0 | 3 |
Weighted average common shares used in computing basic and diluted net loss per share | 33,274 | 32,171 | 33,105 | 32,048 |
Basic and diluted net loss per share, in dollars per share | ($0.18) | ($0.01) | ($0.48) | ($0.05) |
Historical outstanding anti-dilutive securities not included in diluted net loss per share calculation: | ' | ' | ' | ' |
Common stock options and awards | 8,477 | 8,552 | 8,477 | 8,552 |
Common stock options and awards | ' | ' | ' | ' |
Historical outstanding anti-dilutive securities not included in diluted net loss per share calculation: | ' | ' | ' | ' |
Common stock options and awards | 8,475 | 8,550 | 8,475 | 8,550 |
Common stock warrants | ' | ' | ' | ' |
Historical outstanding anti-dilutive securities not included in diluted net loss per share calculation: | ' | ' | ' | ' |
Common stock options and awards | 2 | 2 | 2 | 2 |
Certain_Financial_Statement_In2
Certain Financial Statement Information - Inventories (Detail) (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' |
Raw materials | $13,298 | $22,265 |
Work in progress | 20,824 | 22,100 |
Finished goods | 5,843 | 9,124 |
Net inventories | $39,965 | $53,489 |
Certain_Financial_Statement_In3
Certain Financial Statement Information - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | Dec. 28, 2013 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' | ' | ' |
Write downs to inventories | ' | ' | $2,669 | ' | ' |
Inventories held by third parties | 7,550 | ' | 7,550 | ' | 7,874 |
Depreciation and amortization expense | $1,779 | $1,604 | $3,596 | $3,104 | ' |
Certain_Financial_Statement_In4
Certain Financial Statement Information - Property and Equipment (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 28, 2014 | Dec. 28, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Gross | $55,339 | $54,622 |
Less accumulated depreciation and amortization | -34,935 | -31,500 |
Property and equipment, Net | 20,404 | 23,122 |
Computer equipment and software | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Gross | 6,736 | 6,390 |
Computer equipment and software | Minimum | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Useful Life (Years) | '3 years | ' |
Computer equipment and software | Maximum | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Useful Life (Years) | '5 years | ' |
Machinery and equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Useful Life (Years) | '5 years | ' |
Property and equipment, Gross | 41,541 | 40,427 |
Office furniture and equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Useful Life (Years) | '7 years | ' |
Property and equipment, Gross | 789 | 1,081 |
Leasehold improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Gross | 4,896 | 5,180 |
Construction in progress | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Gross | $1,377 | $1,544 |
Certain_Financial_Statement_In5
Certain Financial Statement Information - Accrued Liabilities (Detail) (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' |
Accrued inventory purchases | $462 | $1,717 |
Accrued inventory repurchase obligation | 4,187 | 6,510 |
Accrued Professional Fees | 4,382 | 1,210 |
Accrued other | 2,627 | 2,392 |
Accrued liabilities | $11,658 | $11,829 |
Certain_Financial_Statement_In6
Certain Financial Statement Information - Warranty Costs (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 |
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward] | ' | ' |
Balance at beginning of period | $159 | $57 |
Provision, net | 546 | 650 |
Costs incurred | -118 | -176 |
Balance at end of period | $587 | $531 |
Financial_Instruments_Cash_and
Financial Instruments - Cash and Marketable Securities' Cost, Unrealized Gains, Unrealized Losses and Fair Value by Significant Investment (Detail) (USD $) | Jun. 28, 2014 | Dec. 28, 2013 | Jun. 29, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Unrealized Losses | ($13) | ' | ' | ' |
Cash and cash equivalents | 19,730 | 16,249 | 18,590 | 44,106 |
Short-term marketable securities | 24,891 | 28,035 | ' | ' |
Long-term marketable securities | 23,989 | 18,888 | ' | ' |
Fair Value, Measurements, Recurring | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cost | 68,596 | 63,172 | ' | ' |
Unrealized Gains | 27 | 17 | ' | ' |
Unrealized Losses | -13 | -17 | ' | ' |
Fair Value | 68,610 | 63,172 | ' | ' |
Cash and cash equivalents | 19,730 | 16,249 | ' | ' |
Short-term marketable securities | 24,891 | 28,035 | ' | ' |
Long-term marketable securities | 23,989 | 18,888 | ' | ' |
Fair Value, Measurements, Recurring | Cash | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cost | 4,244 | 7,023 | ' | ' |
Fair Value | 4,244 | 7,023 | ' | ' |
Cash and cash equivalents | 4,244 | 7,023 | ' | ' |
Level 1 | Fair Value, Measurements, Recurring | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cost | 15,486 | 9,226 | ' | ' |
Fair Value | 15,486 | 9,226 | ' | ' |
Cash and cash equivalents | 15,486 | 9,226 | ' | ' |
Level 1 | Fair Value, Measurements, Recurring | Money market funds | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cost | 15,486 | 9,226 | ' | ' |
Fair Value | 15,486 | 9,226 | ' | ' |
Cash and cash equivalents | 15,486 | 9,226 | ' | ' |
Level 2 | Fair Value, Measurements, Recurring | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cost | 48,866 | 46,923 | ' | ' |
Unrealized Gains | 27 | 17 | ' | ' |
Unrealized Losses | -13 | -17 | ' | ' |
Fair Value | 48,880 | 46,923 | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Short-term marketable securities | 24,891 | 28,035 | ' | ' |
Long-term marketable securities | 23,989 | 18,888 | ' | ' |
Level 2 | Fair Value, Measurements, Recurring | U.S. Agency securities | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cost | 23,830 | 22,929 | ' | ' |
Unrealized Gains | 8 | 4 | ' | ' |
Unrealized Losses | -4 | -3 | ' | ' |
Fair Value | 23,834 | 22,930 | ' | ' |
Short-term marketable securities | 11,185 | 15,929 | ' | ' |
Long-term marketable securities | 12,649 | 7,001 | ' | ' |
Level 2 | Fair Value, Measurements, Recurring | Certificates of deposit | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cost | 9,280 | 8,840 | ' | ' |
Unrealized Gains | 3 | 4 | ' | ' |
Unrealized Losses | -4 | -10 | ' | ' |
Fair Value | 9,279 | 8,834 | ' | ' |
Short-term marketable securities | 6,399 | 5,959 | ' | ' |
Long-term marketable securities | 2,880 | 2,875 | ' | ' |
Level 2 | Fair Value, Measurements, Recurring | Commercial paper | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cost | 1,000 | 998 | ' | ' |
Unrealized Gains | 0 | 0 | ' | ' |
Unrealized Losses | 0 | -1 | ' | ' |
Fair Value | 1,000 | 997 | ' | ' |
Short-term marketable securities | 1,000 | 997 | ' | ' |
Level 2 | Fair Value, Measurements, Recurring | Corporate notes and bonds | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cost | 14,756 | 14,156 | ' | ' |
Unrealized Gains | 16 | 9 | ' | ' |
Unrealized Losses | -5 | -3 | ' | ' |
Fair Value | 14,767 | 14,162 | ' | ' |
Short-term marketable securities | 6,307 | 5,150 | ' | ' |
Long-term marketable securities | $8,460 | $9,012 | ' | ' |
Financial_Instruments_Addition
Financial Instruments - Additional Information (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 28, 2014 |
Investment | |
Fair Value Disclosures [Abstract] | ' |
Transfers between Level 1, Level 2 and Level 3 Securities | $0 |
Number of investments in marketable securities under unrealized loss position | 26 |
Fair value of Investments in marketable securities in unrealized loss position for less than 12 months | 15,802 |
Unrealized losses on investments | $13 |
Minimum | ' |
Fair Value Disclosures [Abstract] | ' |
Long term marketable securities maturity period | '1 year |
Maximum | ' |
Fair Value Disclosures [Abstract] | ' |
Long term marketable securities maturity period | '2 years |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) | 3 Months Ended | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 28, 2014 |
Nonqualified stock options | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Non-qualified stock options granted | 167 | 916 |
Restricted Stock Units | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Non-option awards granted | 0 | 523 |
StockBased_Compensation_Fair_V
Stock-Based Compensation - Fair Value of Stock Options Estimated at Grant Date (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' |
Weighted-average expected term (years) | '5 years | '5 years | '5 years | '5 years |
Risk-free interest rate | 1.65% | 0.65% | 1.58% | 0.68% |
Dividend rate | ' | ' | ' | ' |
Volatility | 44.00% | 61.00% | 46.00% | 61.00% |
Forfeiture rate | 4.00% | 3.00% | 4.00% | 3.00% |
Estimated weighted-average fair value per stock option | $2.37 | $4.97 | $2.42 | $5.13 |
StockBased_Compensation_Stock_
Stock-Based Compensation - Stock Plan Activity (Detail) (USD $) | 3 Months Ended | 6 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Jun. 28, 2014 |
Available for Grant | ' | ' |
Shares outstanding, beginning of period | ' | 2,787 |
Shares added | ' | 1,308 |
Granted | ' | -1,438 |
Canceled | ' | 457 |
Shares withheld under net shares settlement of equity awards | ' | 23 |
Shares outstanding, end of period | 3,137 | 3,137 |
Stock Options | ' | ' |
Number of Shares | ' | ' |
Shares outstanding, beginning of period | ' | 8,227 |
Granted | ' | 915 |
Exercised | ' | -676 |
Canceled | ' | -435 |
Shares outstanding, end of period | 8,031 | 8,031 |
Weighted Average Exercise Price | ' | ' |
Weighted-average exercise price, in dollars per share, beginning of period | ' | $6.71 |
Granted, in dollars per share | ' | $5.83 |
Exercised, in dollars per share | ' | $1.19 |
Canceled, in dollars per share | ' | $10.83 |
Weighted-average exercise price, in dollars per share, end of period | $6.85 | $6.85 |
Restricted Stock Units | ' | ' |
Number of Shares | ' | ' |
Released | ' | -57 |
Number of Shares | ' | ' |
Shares outstanding, beginning of period | ' | 0 |
Granted | 0 | 523 |
Canceled | ' | -22 |
Shares outstanding, end of period | 444 | 444 |
Weighted Average Grant Date Fair Value | ' | ' |
Weighted-average grant date fair value, in dollars per share, beginning of period | ' | $0 |
Granted, in dollars per share | ' | $5.81 |
Canceled, in dollars per share | ' | $5.81 |
Weighted-average grant date fair value, in dollars per share, end of period | $5.81 | $5.81 |
StockBased_Compensation_Compen
Stock-Based Compensation - Compensation Expense Recognized (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | $1,862 | $1,660 | $3,966 | $3,126 |
Cost of net revenue | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 272 | 218 | 530 | 414 |
Research and development | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 559 | 480 | 1,295 | 997 |
Selling, general and administrative | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | $1,031 | $962 | $2,141 | $1,715 |
Commitments_and_Contingencies_
Commitments and Contingencies (Detail) (USD $) | 6 Months Ended |
Jun. 28, 2014 | |
claim | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Monetary penalties, per violation | 500,000 |
New claims asserted | 0 |
Accrual for contingency | $0 |
Income_Taxes_Detail
Income Taxes (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Income tax expense | $117 | $60 | $162 | $88 |
Supply_and_Prepayment_Agreemen1
Supply and Prepayment Agreement (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2012 | Mar. 31, 2012 | Jun. 28, 2014 | Dec. 28, 2013 | Dec. 29, 2012 | |
Payables and Accruals [Abstract] | ' | ' | ' | ' | ' |
Initial term of agreement | ' | '18 months | ' | ' | ' |
Proceeds to be prepaid | $13,000,000 | ' | ' | ' | ' |
Deposits repaid under supply and prepayment agreement | ' | ' | ' | 12,084,000 | ' |
Customer deposits | ' | ' | 916,000 | ' | ' |
Deposits paid to suppliers for support production levels | ' | ' | ' | ' | 4,000,000 |
Deposit repayments from suppliers | ' | ' | 245,000 | ' | ' |
Remaining deposit to be collected | ' | ' | $0 | ' | ' |
Restructuring_Detail
Restructuring (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 28, 2014 |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Reserve | $456 |
Restructuring Charges | 1,962 |
Payments for Restructuring | -2,418 |
Restructuring Reserve | 0 |
Cost of net revenue | ' |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Charges | 55 |
Research and development | ' |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Charges | 1,106 |
Selling, general and administrative | ' |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Charges | 801 |
Employee termination benefits | ' |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Reserve | 418 |
Restructuring Charges | 1,416 |
Payments for Restructuring | -1,834 |
Restructuring Reserve | 0 |
Lease and other contract termination costs | ' |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Reserve | 38 |
Restructuring Charges | 209 |
Payments for Restructuring | -247 |
Restructuring Reserve | 0 |
Loss on disposal of property and equipment | ' |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Reserve | 0 |
Restructuring Charges | 337 |
Payments for Restructuring | -337 |
Restructuring Reserve | $0 |