QLogic (QLGC) 10-Q 6 Feb 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 29, 2013	Jan. 31, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	29-Dec-13	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'QLGC	'
Entity Registrant Name	'QLOGIC CORP	'
Entity Central Index Key	'0000918386	'
Current Fiscal Year End Date	'--03-30	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	86,956,000

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$108,998	$95,532
Marketable securities	353,433	359,974
Accounts receivable, less allowance for doubtful accounts of $1,234 and $1,196 as of December 29, 2013 and March 31, 2013, respectively	71,153	66,135
Inventories	14,044	20,160
Deferred tax assets	14,978	13,036
Other current assets	20,513	24,381
Total current assets	583,119	579,218
Property and equipment, net	87,609	96,336
Goodwill	110,976	110,976
Purchased intangible assets, net	3,386	4,054
Deferred tax assets	34,652	31,992
Other assets	2,376	2,587
Total assets	822,118	825,163
Current liabilities:	'	'
Accounts payable	23,837	29,668
Accrued compensation	24,734	27,453
Accrued taxes	1,913	4,559
Deferred revenue	4,060	4,676
Other current liabilities	8,192	7,651
Total current liabilities	62,736	74,007
Accrued taxes	17,804	10,772
Other liabilities	7,824	6,107
Total liabilities	88,364	90,886
Stockholders' equity:	'	'
Preferred stock, $0.001 par value; 1,000,000 shares authorized; no shares issued and outstanding	'	'
Common stock, $0.001 par value; 500,000,000 shares authorized; 213,570,000 and 212,145,000 shares issued as of December 29, 2013 and March 31, 2013, respectively	214	212
Additional paid-in capital	951,743	932,557
Retained earnings	1,718,850	1,690,337
Accumulated other comprehensive income	249	1,887
Treasury stock, at cost: 126,616,000 and 122,185,000 shares as of December 29, 2013 and March 31, 2013, respectively	-1,937,302	-1,890,716
Total stockholders' equity	733,754	734,277
Total liabilities and stockholders' equity	$822,118	$825,163

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Allowance for doubtful accounts	$1,234	$1,196
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	'	'
Preferred stock, shares outstanding	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	213,570,000	212,145,000
Treasury stock, shares	126,616,000	122,185,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Income Statement [Abstract]	'	'	'	'
Net revenues	$119,449	$119,386	$345,187	$367,624
Cost of revenues	38,446	39,089	111,378	121,382
Gross profit	81,003	80,297	233,809	246,242
Operating expenses:	'	'	'	'
Engineering and development	35,235	38,409	110,412	115,891
Sales and marketing	16,113	19,325	51,957	57,950
General and administrative	7,406	8,139	22,698	24,951
Special charges	1,947	'	18,329	'
Total operating expenses	60,701	65,873	203,396	198,792
Operating income	20,302	14,424	30,413	47,450
Interest and other income, net	970	903	1,768	2,935
Income from continuing operations before income taxes	21,272	15,327	32,181	50,385
Income taxes	686	1,622	3,668	6,459
Income from continuing operations	20,586	13,705	28,513	43,926
Loss from discontinued operations, net of income taxes	'	-464	'	-425
Net income	$20,586	$13,241	$28,513	$43,501
Income from continuing operations per share:	'	'	'	'
Basic	$0.24	$0.15	$0.32	$0.46
Diluted	$0.24	$0.15	$0.32	$0.46
Loss from discontinued operations per share:	'	'	'	'
Basic	'	($0.01)	'	'
Diluted	'	($0.01)	'	'
Net income per share:	'	'	'	'
Basic	$0.24	$0.14	$0.32	$0.46
Diluted	$0.24	$0.14	$0.32	$0.46
Number of shares used in per share calculations:	'	'	'	'
Basic	86,855	92,386	87,810	94,518
Diluted	87,186	92,570	88,209	94,963

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Statement Of Income And Comprehensive Income [Abstract]	'	'	'	'
Net income	$20,586	$13,241	$28,513	$43,501
Changes in fair value of marketable securities:	'	'	'	'
Changes in unrealized gains	-35	-106	-1,354	1,243
Net realized gains reclassified into earnings	-84	-208	-343	-396
Total changes in fair value of marketable securities	-119	-314	-1,697	847
Foreign currency translation adjustments	101	-71	59	3
Total other comprehensive income (loss)	-18	-385	-1,638	850
Comprehensive income	$20,568	$12,856	$26,875	$44,351

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012
Cash flows from operating activities:	'	'
Net income	$28,513	$43,501
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	23,620	21,071
Stock-based compensation	18,047	23,295
Deferred income taxes	-5,355	-3,810
Other non-cash items	5,706	3,138
Changes in operating assets and liabilities:	'	'
Accounts receivable	-5,088	7,179
Inventories	6,116	-3,311
Other assets	537	113
Accounts payable	-1,919	-2,499
Accrued compensation	-2,719	-2,385
Accrued taxes, net	7,734	14,367
Other liabilities	2,841	870
Net cash provided by operating activities	78,033	101,529
Cash flows from investing activities:	'	'
Purchases of available-for-sale securities	-259,008	-228,202
Proceeds from sales and maturities of available-for-sale securities	261,253	204,325
Purchases of property and equipment	-21,043	-31,728
Net cash used in investing activities	-18,798	-55,605
Cash flows from financing activities:	'	'
Proceeds from issuance of common stock under stock-based awards	6,756	6,571
Excess tax benefits from stock-based awards	46	129
Minimum tax withholding paid on behalf of employees for restricted stock units	-4,584	-5,555
Purchases of treasury stock	-47,785	-111,729
Payments for credit facility commitment fee	-202	'
Net cash used in financing activities	-45,769	-110,584
Net increase (decrease) in cash and cash equivalents	13,466	-64,660
Cash and cash equivalents at beginning of period	95,532	164,516
Cash and cash equivalents at end of period	$108,998	$99,856

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Dec. 29, 2013
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Note 1. Basis of Presentation
	In the opinion of management of QLogic Corporation (QLogic or the Company), the accompanying unaudited condensed consolidated financial statements contain all normal recurring accruals and adjustments necessary to present fairly the Company’s consolidated financial position, results of operations and cash flows. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2013. The results of operations for the three and nine months ended December 29, 2013 are not necessarily indicative of the results that may be expected for the entire fiscal year. The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates that affect the amounts reported in the Company’s consolidated financial statements and accompanying notes. The Company evaluates its estimates on an ongoing basis using historical experience and other factors, including the current economic environment. Among the significant estimates affecting the consolidated financial statements are those related to revenue recognition, stock-based compensation, income taxes, marketable securities, inventories, goodwill and long-lived assets. The actual results experienced by the Company could differ materially from management’s estimates.
	Certain immaterial reclassifications have been made to prior year amounts to conform to the current year presentation.

Marketable_Securities

Marketable Securities	9 Months Ended
	Dec. 29, 2013
Investments Debt And Equity Securities [Abstract]	'
Marketable Securities	'
	Note 2. Marketable Securities
	The Company’s portfolio of available-for-sale marketable securities consists of the following:
		Amortized		Gross			Gross			Estimated
		Cost		Unrealized			Unrealized			Fair Value
				Gains			Losses
		(In thousands)
	December 29, 2013
	U.S. government and agency securities	$	88,052	$	41		$	(176	)	$	87,917
	Corporate debt obligations		175,713		838			(207	)		176,344
	Mortgage-backed securities		48,507		214			(348	)		48,373
	Municipal bonds		37,257		83			(99	)		37,241
	Other debt securities		3,558		2			(2	)		3,558
		$	353,087	$	1,178		$	(832	)	$	353,433
	March 31, 2013
	U.S. government and agency securities	$	113,033	$	327		$	(1	)	$	113,359
	Corporate debt obligations		153,460		1,429			(30	)		154,859
	Mortgage-backed securities		50,852		473			(44	)		51,281
	Municipal bonds		39,661		211			—			39,872
	Other debt securities		602		1			—			603
		$	357,608	$	2,441		$	(75	)	$	359,974
	The amortized cost and estimated fair value of debt securities as of December 29, 2013, by contractual maturity, are presented below. Expected maturities will differ from contractual maturities because the issuers of securities may have the right to repay obligations without prepayment penalties. Certain debt instruments, although possessing a contractual maturity greater than one year, are classified as short-term marketable securities based on their ability to be traded on active markets and availability for current operations.
		Amortized		Estimated
		Cost		Fair Value
		(In thousands)
	Due in one year or less	$	113,774	$	113,863
	Due after one year through three years		169,051		169,259
	Due after three years through five years		35,240		34,906
	Due after five years		35,022		35,405
		$	353,087	$	353,433
	The following table presents the Company’s marketable securities with unrealized losses by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 29, 2013 and March 31, 2013.
		Less Than 12 Months					12 Months or Greater						Total
	Description of Securities	Fair		Unrealized			Fair			Unrealized			Fair		Unrealized
		Value		Losses			Value			Losses			Value		Losses
		(In thousands)
	December 29, 2013
	U.S. government and agency securities	$	50,796	$	(176	)	$	—		$	—		$	50,796	$	(176	)
	Corporate debt obligations		65,329		(207	)		—			—			65,329		(207	)
	Mortgage-backed securities		26,216		(310	)		2,306			(38	)		28,522		(348	)
	Municipal bonds		17,076		(99	)		—			—			17,076		(99	)
	Other debt securities		2,956		(2	)		—			—			2,956		(2	)
		$	162,373	$	(794	)	$	2,306		$	(38	)	$	164,679	$	(832	)
	March 31, 2013
	U.S. government and agency securities	$	4,502	$	(1	)	$	—		$	—		$	4,502	$	(1	)
	Corporate debt obligations		24,203		(30	)		—			—			24,203		(30	)
	Mortgage-backed securities		10,048		(44	)		—			—			10,048		(44	)
		$	38,753	$	(75	)	$	—		$	—		$	38,753	$	(75	)
	As of December 29, 2013 and March 31, 2013, the fair value of certain of the Company’s available-for-sale securities was less than their cost basis. Management reviewed various factors in determining whether to recognize an impairment charge related to these unrealized losses, including the current financial and credit market environment, the financial condition and near-term prospects of the issuer of the security, the magnitude of the unrealized loss compared to the cost of the investment, the length of time the investment had been in a loss position and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery of market value. As of December 29, 2013 and March 31, 2013, the Company determined that the unrealized losses were temporary in nature and recorded them as a component of accumulated other comprehensive income.
	Realized gains and losses reclassified from accumulated other comprehensive income are included in interest and other income, net, in the condensed consolidated statements of income.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Dec. 29, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Note 3. Fair Value Measurements
	Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs that may be used to measure fair value. The first two levels of inputs are considered observable and the last unobservable. A description of the three levels of inputs is as follows:
		•		Level 1 – Quoted prices in active markets for identical assets or liabilities.
		•		Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
		•		Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	Assets measured at fair value on a recurring basis as of December 29, 2013 and March 31, 2013 are as follows:
			Fair Value Measurements Using
			Level 1		Level 2		Total
			(In thousands)
	December 29, 2013
	Cash and cash equivalents		$	105,977	$	3,021	$	108,998
	Marketable securities:
	U.S. government and agency securities			87,917		—		87,917
	Corporate debt obligations			—		176,344		176,344
	Mortgage-backed securities			—		48,373		48,373
	Municipal bonds			—		37,241		37,241
	Other debt securities			—		3,558		3,558
				87,917		265,516		353,433
			$	193,894	$	268,537	$	462,431
	March 31, 2013
	Cash and cash equivalents		$	95,098	$	434	$	95,532
	Marketable securities:
	U.S. government and agency securities			113,359		—		113,359
	Corporate debt obligations			—		154,859		154,859
	Mortgage-backed securities			—		51,281		51,281
	Municipal bonds			—		39,872		39,872
	Other debt securities			—		603		603
				113,359		246,615		359,974
			$	208,457	$	247,049	$	455,506
	The Company’s investments classified within Level 2 were primarily valued based on valuations obtained from a third-party pricing service. To estimate fair value, the pricing service utilizes industry-standard valuation models, including both income and market-based approaches for which all significant inputs are observable either directly or indirectly. The Company obtained documentation from the pricing service as to the methodology and summary of inputs used for the various types of securities. The pricing service maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs. These observable inputs include reported trades and broker/dealer quotes of the same or similar securities, issuer credit spreads, benchmark securities and other observable inputs. The Company compares valuation information from the pricing service with other pricing sources to validate the reasonableness of the valuations.

Inventories

Inventories	9 Months Ended
	Dec. 29, 2013
Inventory Disclosure [Abstract]	'
Inventories	'
	Note 4. Inventories
	Components of inventories are as follows:
		December 29,		March 31,
		2013		2013
		(In thousands)
	Raw materials	$	1,592	$	2,039
	Finished goods		12,452		18,121
		$	14,044	$	20,160

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Dec. 29, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Stock-Based Compensation	'
	Note 5. Stock-Based Compensation
	During the nine months ended December 29, 2013, the Company granted 1.4 million restricted stock units and options to purchase 0.1 million shares of common stock with weighted average grant date fair values of $10.22 and $4.12 per share, respectively. The restricted stock units included 0.1 million restricted stock units with service and market conditions, which were granted to certain senior executives.
	A summary of stock-based compensation expense, by functional line item in the condensed consolidated statements of income, is as follows:
		Three Months Ended				Nine Months Ended
		December 29,		December 30,		December 29,		December 30,
		2013		2012		2013		2012
		(In thousands)
	Cost of revenues	$	259	$	529	$	1,082	$	1,839
	Engineering and development		2,462		3,030		9,070		10,444
	Sales and marketing		1,251		1,619		4,274		5,217
	General and administrative		1,086		1,795		3,621		5,795
		$	5,058	$	6,973	$	18,047	$	23,295

Special_Charges

Special Charges	9 Months Ended
	Dec. 29, 2013
Restructuring And Related Activities [Abstract]	'
Special Charges	'
	Note 6. Special Charges
	In June 2013, the Company commenced a restructuring plan designed to enhance product focus and streamline business operations. The restructuring plan includes a workforce reduction and the consolidation and elimination of certain engineering activities. In connection with this plan, the Company ceased development of future switch application-specific integrated circuits (ASICs). The Company expects to incur between $17 million and $19 million of exit costs associated with this restructuring plan, which consists of between $14 million and $15 million related to workforce reductions and between $3 million and $4 million related to facilities. The Company expects to substantially complete the restructuring activities during fiscal 2014.
	During the three and nine months ended December 29, 2013, the Company recorded special charges of $1.9 million and $18.3 million, respectively. Special charges for the three months ended December 29, 2013 consisted entirely of exit costs. Special charges for the nine months ended December 29, 2013 consisted of $15.9 million of exit costs and $2.4 million of asset impairment charges primarily related to property and equipment. The exit costs include severance and related costs associated with involuntarily terminated employees. Certain employees that were notified of their termination are required to provide services for varying periods in excess of statutory notice periods. Severance costs related to these services are recognized ratably over the estimated requisite service period. Exit costs also include the estimated costs associated with the portion of a facility under a non-cancelable lease that the Company ceased using.
	Activity and liability balances for exit costs, including a liability associated with exit costs related to a portion of the facility the Company ceased using prior to fiscal 2013, are as follows:
		Workforce			Facilities			Total
		Reduction			and Other
		(In thousands)
	Balance as of March 31, 2013	$	—		$	1,771		$	1,771
	Charged to costs and expenses		13,099			2,801			15,900
	Payments		(9,648	)		(478	)		(10,126	)
	Balance as of December 29, 2013	$	3,451		$	4,094		$	7,545
	The unpaid exit costs are expected to be paid over the terms of the related agreements through fiscal 2018. As of December 29, 2013, unpaid exit costs totaling $3.1 million are included in other current liabilities.

Income_Taxes

Income Taxes	9 Months Ended
	Dec. 29, 2013
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Note 7. Income Taxes
	The Company’s provision for income taxes from continuing operations was $0.7 million and $3.7 million for the three and nine months ended December 29, 2013, respectively, and $1.6 million and $6.5 million for the three and nine months ended December 30, 2012, respectively. The provision for income taxes is based on the estimated income for the year, the composition of the estimated income in different tax jurisdictions, and the tax effect, if any, in the applicable quarterly periods of newly enacted tax legislation, resolution of tax audits, changes in uncertain tax positions, and other discrete tax-related items. The allocation of taxable income to domestic and foreign tax jurisdictions impacts the effective tax rate, as the Company’s income tax rate in foreign jurisdictions is generally lower than its income tax rate in the United States.
	During the nine months ended December 29, 2013, the Company determined that certain positions would be taken on various state income tax returns and recorded liabilities for unrecognized tax benefits of $5.3 million related to these tax positions.
	The Company’s federal consolidated income tax returns for fiscal years 2010, 2011 and 2012 are currently under examination by the Internal Revenue Service. Management does not believe that the results of these examinations will have a material impact on the Company’s financial condition or results of operations.

Income_Per_Share

Income Per Share	9 Months Ended
	Dec. 29, 2013
Earnings Per Share [Abstract]	'
Income Per Share	'
	Note 8. Income Per Share
	The following table sets forth the computation of basic and diluted income from continuing operations per share:
		Three Months Ended				Nine Months Ended
		December 29,		December 30,		December 29,		December 30,
		2013		2012		2013		2012
		(In thousands, except per share amounts)
	Income from continuing operations	$	20,586	$	13,705	$	28,513	$	43,926
	Shares:
	Weighted-average shares outstanding — basic		86,855		92,386		87,810		94,518
	Dilutive potential common shares, using treasury stock method		331		184		399		445
	Weighted-average shares outstanding — diluted		87,186		92,570		88,209		94,963
	Income from continuing operations per share:
	Basic	$	0.24	$	0.15	$	0.32	$	0.46
	Diluted	$	0.24	$	0.15	$	0.32	$	0.46
	Stock-based awards, including stock options and restricted stock units, representing 12.1 million and 14.8 million shares of common stock have been excluded from the diluted per share calculations for the three and nine months ended December 29, 2013, respectively, and 20.3 million and 18.9 million shares of common stock have been excluded from the diluted per share calculations for the three and nine months ended December 30, 2012, respectively. These stock-based awards have been excluded from the diluted per share calculations because their effect would have been antidilutive.

Marketable_Securities_Tables

Marketable Securities (Tables)	9 Months Ended
	Dec. 29, 2013
Investments Debt And Equity Securities [Abstract]	'
Schedule of Available-for-Sale Securities	'
	The Company’s portfolio of available-for-sale marketable securities consists of the following:
		Amortized		Gross			Gross			Estimated
		Cost		Unrealized			Unrealized			Fair Value
				Gains			Losses
		(In thousands)
	December 29, 2013
	U.S. government and agency securities	$	88,052	$	41		$	(176	)	$	87,917
	Corporate debt obligations		175,713		838			(207	)		176,344
	Mortgage-backed securities		48,507		214			(348	)		48,373
	Municipal bonds		37,257		83			(99	)		37,241
	Other debt securities		3,558		2			(2	)		3,558
		$	353,087	$	1,178		$	(832	)	$	353,433
	March 31, 2013
	U.S. government and agency securities	$	113,033	$	327		$	(1	)	$	113,359
	Corporate debt obligations		153,460		1,429			(30	)		154,859
	Mortgage-backed securities		50,852		473			(44	)		51,281
	Municipal bonds		39,661		211			—			39,872
	Other debt securities		602		1			—			603
		$	357,608	$	2,441		$	(75	)	$	359,974
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities	'
	The amortized cost and estimated fair value of debt securities as of December 29, 2013, by contractual maturity, are presented below. Expected maturities will differ from contractual maturities because the issuers of securities may have the right to repay obligations without prepayment penalties. Certain debt instruments, although possessing a contractual maturity greater than one year, are classified as short-term marketable securities based on their ability to be traded on active markets and availability for current operations.
		Amortized		Estimated
		Cost		Fair Value
		(In thousands)
	Due in one year or less	$	113,774	$	113,863
	Due after one year through three years		169,051		169,259
	Due after three years through five years		35,240		34,906
	Due after five years		35,022		35,405
		$	353,087	$	353,433
Schedule of Unrealized Losses by Investment Category	'
	The following table presents the Company’s marketable securities with unrealized losses by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 29, 2013 and March 31, 2013.
		Less Than 12 Months					12 Months or Greater						Total
	Description of Securities	Fair		Unrealized			Fair			Unrealized			Fair		Unrealized
		Value		Losses			Value			Losses			Value		Losses
		(In thousands)
	December 29, 2013
	U.S. government and agency securities	$	50,796	$	(176	)	$	—		$	—		$	50,796	$	(176	)
	Corporate debt obligations		65,329		(207	)		—			—			65,329		(207	)
	Mortgage-backed securities		26,216		(310	)		2,306			(38	)		28,522		(348	)
	Municipal bonds		17,076		(99	)		—			—			17,076		(99	)
	Other debt securities		2,956		(2	)		—			—			2,956		(2	)
		$	162,373	$	(794	)	$	2,306		$	(38	)	$	164,679	$	(832	)
	March 31, 2013
	U.S. government and agency securities	$	4,502	$	(1	)	$	—		$	—		$	4,502	$	(1	)
	Corporate debt obligations		24,203		(30	)		—			—			24,203		(30	)
	Mortgage-backed securities		10,048		(44	)		—			—			10,048		(44	)
		$	38,753	$	(75	)	$	—		$	—		$	38,753	$	(75	)

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 29, 2013
Fair Value Disclosures [Abstract]	'
Schedule of Assets Measured at Fair Value on a Recurring Basis	'
	Assets measured at fair value on a recurring basis as of December 29, 2013 and March 31, 2013 are as follows:
		Fair Value Measurements Using
		Level 1		Level 2		Total
		(In thousands)
	December 29, 2013
	Cash and cash equivalents	$	105,977	$	3,021	$	108,998
	Marketable securities:
	U.S. government and agency securities		87,917		—		87,917
	Corporate debt obligations		—		176,344		176,344
	Mortgage-backed securities		—		48,373		48,373
	Municipal bonds		—		37,241		37,241
	Other debt securities		—		3,558		3,558
			87,917		265,516		353,433
		$	193,894	$	268,537	$	462,431
	March 31, 2013
	Cash and cash equivalents	$	95,098	$	434	$	95,532
	Marketable securities:
	U.S. government and agency securities		113,359		—		113,359
	Corporate debt obligations		—		154,859		154,859
	Mortgage-backed securities		—		51,281		51,281
	Municipal bonds		—		39,872		39,872
	Other debt securities		—		603		603
			113,359		246,615		359,974
		$	208,457	$	247,049	$	455,506

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Dec. 29, 2013
Inventory Disclosure [Abstract]	'
Components of Inventories	'
	Components of inventories are as follows:
		December 29,		March 31,
		2013		2013
		(In thousands)
	Raw materials	$	1,592	$	2,039
	Finished goods		12,452		18,121
		$	14,044	$	20,160

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Dec. 29, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Summary of Stock-Based Compensation Expense	'
	A summary of stock-based compensation expense, by functional line item in the condensed consolidated statements of income, is as follows:
		Three Months Ended				Nine Months Ended
		December 29,		December 30,		December 29,		December 30,
		2013		2012		2013		2012
		(In thousands)
	Cost of revenues	$	259	$	529	$	1,082	$	1,839
	Engineering and development		2,462		3,030		9,070		10,444
	Sales and marketing		1,251		1,619		4,274		5,217
	General and administrative		1,086		1,795		3,621		5,795
		$	5,058	$	6,973	$	18,047	$	23,295

Special_Charges_Tables

Special Charges (Tables)	9 Months Ended
	Dec. 29, 2013
Restructuring And Related Activities [Abstract]	'
Activity and Liability Balances for Exit Costs	'
	Activity and liability balances for exit costs, including a liability associated with exit costs related to a portion of the facility the Company ceased using prior to fiscal 2013, are as follows:
		Workforce			Facilities			Total
		Reduction			and Other
		(In thousands)
	Balance as of March 31, 2013	$	—		$	1,771		$	1,771
	Charged to costs and expenses		13,099			2,801			15,900
	Payments		(9,648	)		(478	)		(10,126	)
	Balance as of December 29, 2013	$	3,451		$	4,094		$	7,545

Income_Per_Share_Tables

Income Per Share (Tables)	9 Months Ended
	Dec. 29, 2013
Earnings Per Share [Abstract]	'
Computation of Basic and Diluted Income from Continuing Operations Per Share	'
	The following table sets forth the computation of basic and diluted income from continuing operations per share:
		Three Months Ended				Nine Months Ended
		December 29,		December 30,		December 29,		December 30,
		2013		2012		2013		2012
		(In thousands, except per share amounts)
	Income from continuing operations	$	20,586	$	13,705	$	28,513	$	43,926
	Shares:
	Weighted-average shares outstanding — basic		86,855		92,386		87,810		94,518
	Dilutive potential common shares, using treasury stock method		331		184		399		445
	Weighted-average shares outstanding — diluted		87,186		92,570		88,209		94,963
	Income from continuing operations per share:
	Basic	$	0.24	$	0.15	$	0.32	$	0.46
	Diluted	$	0.24	$	0.15	$	0.32	$	0.46

Marketable_Securities_Schedule

Marketable Securities - Schedule of Available-for-Sale Securities (Detail) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale securities, Amortized Cost	$353,087	$357,608
Available-for-sale securities, Gross Unrealized Gains	1,178	2,441
Available-for-sale securities, Gross Unrealized Losses	-832	-75
Available-for-sale securities, Estimated Fair Value	353,433	359,974
U.S. government and agency securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale securities, Amortized Cost	88,052	113,033
Available-for-sale securities, Gross Unrealized Gains	41	327
Available-for-sale securities, Gross Unrealized Losses	-176	-1
Available-for-sale securities, Estimated Fair Value	87,917	113,359
Corporate debt obligations [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale securities, Amortized Cost	175,713	153,460
Available-for-sale securities, Gross Unrealized Gains	838	1,429
Available-for-sale securities, Gross Unrealized Losses	-207	-30
Available-for-sale securities, Estimated Fair Value	176,344	154,859
Mortgage-backed securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale securities, Amortized Cost	48,507	50,852
Available-for-sale securities, Gross Unrealized Gains	214	473
Available-for-sale securities, Gross Unrealized Losses	-348	-44
Available-for-sale securities, Estimated Fair Value	48,373	51,281
Other debt securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale securities, Amortized Cost	3,558	602
Available-for-sale securities, Gross Unrealized Gains	2	1
Available-for-sale securities, Gross Unrealized Losses	-2	'
Available-for-sale securities, Estimated Fair Value	3,558	603
Municipal bonds [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale securities, Amortized Cost	37,257	39,661
Available-for-sale securities, Gross Unrealized Gains	83	211
Available-for-sale securities, Gross Unrealized Losses	-99	'
Available-for-sale securities, Estimated Fair Value	$37,241	$39,872

Marketable_Securities_Schedule1

Marketable Securities - Schedule of Amortized Cost and Estimated Fair Value of Debt Securities (Detail) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Available For Sale Securities Debt Maturities Fair Value [Abstract]	'	'
Due in one year or less, Amortized Cost	$113,774	'
Due after one year through three years, Amortized Cost	169,051	'
Due after three years through five years, Amortized Cost	35,240	'
Due after five years, Amortized Cost	35,022	'
Total amortized cost of debt securities	353,087	357,608
Due in one year or less, Estimated Fair Value	113,863	'
Due after one year through three years, Estimated Fair Value	169,259	'
Due after three years through five years, Estimated Fair Value	34,906	'
Due after five years, Estimated Fair Value	35,405	'
Available-for-sale securities, Estimated Fair Value	$353,433	$359,974

Marketable_Securities_Schedule2

Marketable Securities - Schedule of Unrealized Losses by Investment Category (Detail) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair value of less than 12 months	$162,373	$38,753
Unrealized losses of less than 12 months	-794	-75
Fair value of 12 months or greater	2,306	'
Unrealized losses of 12 months or greater	-38	'
Fair value, Total	164,679	38,753
Unrealized losses, Total	-832	-75
U.S. government and agency securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair value of less than 12 months	50,796	4,502
Unrealized losses of less than 12 months	-176	-1
Fair value of 12 months or greater	'	'
Unrealized losses of 12 months or greater	'	'
Fair value, Total	50,796	4,502
Unrealized losses, Total	-176	-1
Corporate debt obligations [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair value of less than 12 months	65,329	24,203
Unrealized losses of less than 12 months	-207	-30
Fair value of 12 months or greater	'	'
Unrealized losses of 12 months or greater	'	'
Fair value, Total	65,329	24,203
Unrealized losses, Total	-207	-30
Mortgage-backed securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair value of less than 12 months	26,216	10,048
Unrealized losses of less than 12 months	-310	-44
Fair value of 12 months or greater	2,306	'
Unrealized losses of 12 months or greater	-38	'
Fair value, Total	28,522	10,048
Unrealized losses, Total	-348	-44
Other debt securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair value of less than 12 months	2,956	'
Unrealized losses of less than 12 months	-2	'
Fair value of 12 months or greater	'	'
Unrealized losses of 12 months or greater	'	'
Fair value, Total	2,956	'
Unrealized losses, Total	-2	'
Municipal bonds [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair value of less than 12 months	17,076	'
Unrealized losses of less than 12 months	-99	'
Fair value of 12 months or greater	'	'
Unrealized losses of 12 months or greater	'	'
Fair value, Total	17,076	'
Unrealized losses, Total	($99)	'

Fair_Value_Measurements_Schedu

Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Detail) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	$353,433	$359,974
Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents	108,998	95,532
Marketable securities	353,433	359,974
Total assets at fair value disclosure	462,431	455,506
Fair Value Measurements Using, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents	105,977	95,098
Marketable securities	87,917	113,359
Total assets at fair value disclosure	193,894	208,457
Fair Value Measurements Using, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents	3,021	434
Marketable securities	265,516	246,615
Total assets at fair value disclosure	268,537	247,049
U.S. government and agency securities [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	87,917	113,359
U.S. government and agency securities [Member] | Fair Value Measurements Using, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	87,917	113,359
U.S. government and agency securities [Member] | Fair Value Measurements Using, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	'	'
Corporate debt obligations [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	176,344	154,859
Corporate debt obligations [Member] | Fair Value Measurements Using, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	'	'
Corporate debt obligations [Member] | Fair Value Measurements Using, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	176,344	154,859
Mortgage-backed securities [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	48,373	51,281
Mortgage-backed securities [Member] | Fair Value Measurements Using, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	'	'
Mortgage-backed securities [Member] | Fair Value Measurements Using, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	48,373	51,281
Other debt securities [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	3,558	603
Other debt securities [Member] | Fair Value Measurements Using, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	'	'
Other debt securities [Member] | Fair Value Measurements Using, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	3,558	603
Municipal bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	37,241	39,872
Municipal bonds [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	37,241	39,872
Municipal bonds [Member] | Fair Value Measurements Using, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	'	'
Municipal bonds [Member] | Fair Value Measurements Using, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities	$37,241	$39,872

Inventories_Components_of_Inve

Inventories - Components of Inventories (Detail) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Raw materials	$1,592	$2,039
Finished goods	12,452	18,121
Total Inventory	$14,044	$20,160

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	9 Months Ended
In Millions, except Per Share data, unless otherwise specified	Dec. 29, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Stock options granted, shares	0.1
Weighted average grant date fair values per share, options granted for purchase of common stock	$4.12
Restricted stock units (RSUs) [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Restricted stock units granted, shares	1.4
Weighted average grant date fair values per share, restricted stock units granted	$10.22
Restricted stock units with service and market conditions [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Restricted stock units granted, shares	0.1

StockBased_Compensation_Summar

Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	$5,058	$6,973	$18,047	$23,295
Cost of revenues [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	259	529	1,082	1,839
Engineering and development [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	2,462	3,030	9,070	10,444
Sales and marketing [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	1,251	1,619	4,274	5,217
General and administrative [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	$1,086	$1,795	$3,621	$5,795

Special_Charges_Additional_Inf

Special Charges - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended
	Dec. 29, 2013	Dec. 29, 2013
Restructuring Cost and Reserve [Line Items]	'	'
Date the company commenced the restructuring plan	'	3-Jun-13
Date the Company expects to substantially complete the restructuring activities	'	30-Mar-14
Special charges	$1,947,000	$18,329,000
Charged to costs and expenses	'	15,900,000
Asset impairment charges	'	2,400,000
Unpaid exit costs included in current liabilities	3,100,000	3,100,000
Workforce Reduction [Member]	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Charged to costs and expenses	'	13,099,000
Facilities and Other [Member]	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Charged to costs and expenses	'	2,801,000
Minimum [Member]	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Exit costs expected to incur	'	17,000,000
Minimum [Member] | Workforce Reduction [Member]	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Exit costs expected to incur	'	14,000,000
Minimum [Member] | Facilities and Other [Member]	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Exit costs expected to incur	'	3,000,000
Maximum [Member]	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Exit costs expected to incur	'	19,000,000
Maximum [Member] | Workforce Reduction [Member]	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Exit costs expected to incur	'	15,000,000
Maximum [Member] | Facilities and Other [Member]	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Exit costs expected to incur	'	$4,000,000

Special_Charges_Activity_and_L

Special Charges - Activity and Liability Balances for Exit Costs (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013
Restructuring Cost and Reserve [Line Items]	'
Beginning Balance	$1,771
Charged to costs and expenses	15,900
Payments	-10,126
Ending Balance	7,545
Workforce Reduction [Member]	'
Restructuring Cost and Reserve [Line Items]	'
Beginning Balance	'
Charged to costs and expenses	13,099
Payments	-9,648
Ending Balance	3,451
Facilities and Other [Member]	'
Restructuring Cost and Reserve [Line Items]	'
Beginning Balance	1,771
Charged to costs and expenses	2,801
Payments	-478
Ending Balance	$4,094

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Income Taxes [Line Items]	'	'	'	'
Provision for income taxes from continuing operations	$686,000	$1,622,000	$3,668,000	$6,459,000
Unrecognized tax benefits related to various state income tax returns and recorded liabilities	'	'	$5,300,000	'
Year One [Member] | Internal Revenue Service (IRS) [Member]	'	'	'	'
Income Taxes [Line Items]	'	'	'	'
Income tax examination, year	'	'	'2010	'
Year Two [Member] | Internal Revenue Service (IRS) [Member]	'	'	'	'
Income Taxes [Line Items]	'	'	'	'
Income tax examination, year	'	'	'2011	'
Year Three [Member] | Internal Revenue Service (IRS) [Member]	'	'	'	'
Income Taxes [Line Items]	'	'	'	'
Income tax examination, year	'	'	'2012	'

Income_Per_Share_Computation_o

Income Per Share - Computation of Basic and Diluted Income from Continuing Operations Per Share (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Earnings Per Share [Abstract]	'	'	'	'
Income from continuing operations	$20,586	$13,705	$28,513	$43,926
Shares:	'	'	'	'
Weighted-average shares outstanding - basic	86,855	92,386	87,810	94,518
Dilutive potential common shares, using treasury stock method	331	184	399	445
Weighted-average shares outstanding - diluted	87,186	92,570	88,209	94,963
Income from continuing operations per share:	'	'	'	'
Basic	$0.24	$0.15	$0.32	$0.46
Diluted	$0.24	$0.15	$0.32	$0.46

Income_Per_Share_Additional_In

Income Per Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Earnings Per Share [Abstract]	'	'	'	'
Stock-based awards excluded from the diluted per share calculations	12.1	20.3	14.8	18.9