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Financial Information by Quarter (Unaudited)
 12 Months Ended
Dec. 28, 2019
Quarterly Financial Information Disclosure [Abstract]  
Financial Information by Quarter (Unaudited) Financial Information by Quarter (Unaudited)
The following table sets forth the Company’s unaudited quarterly consolidated statements of operations data for 2019 and 2018. The data has been prepared on the same basis as the audited consolidated financial statements and related notes included in this report. The table includes all necessary adjustments, consisting only of normal recurring adjustments that the Company considers necessary for a fair presentation of this data.
 
For the Three Months Ended (Unaudited)
 
2019
 
2018
 
Dec. 28
 
Sep. 28
 
Jun. 29
 
Mar. 30
 
Dec. 29
 
Sep. 29
 
Jun. 30
 
Mar. 31
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands, except per share data)
Revenue:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Product
$
307,861

 
$
253,754

 
$
226,866

 
$
223,007

 
$
249,608

 
$
167,030

 
$
175,288

 
$
171,629

Services
76,706

 
71,587

 
69,384

 
69,700

 
82,450

 
33,383

 
32,939

 
31,052

Total revenue
384,567

 
325,341

 
296,250

 
292,707

 
332,058

 
200,413

 
208,227

 
202,681

Cost of revenue:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of product
213,536

 
186,205

 
177,501

 
157,817

 
197,251

 
112,276

 
105,914

 
102,324

Cost of services
38,543

 
34,866

 
36,831

 
36,676

 
39,408

 
13,075

 
13,039

 
12,831

Amortization of intangible assets
8,437

 
7,796

 
8,098

 
8,252

 
8,315

 
4,876

 
4,943

 
5,341

Acquisition and integration costs
7,238

 
8,447

 
10,700

 
2,064

 
—

 
—

 
—

 
—

Restructuring and related
5,407

 
1,198

 
1,864

 
21,466

 
2,580

 
7

 
26

 
17

Total cost of revenue
273,161

 
238,512

 
234,994

 
226,275

 
247,554

 
130,234

 
123,922

 
120,513

Gross profit
111,406

 
86,829

 
61,256

 
66,432

 
84,504

 
70,179

 
84,305

 
82,168

Amortization of intangible assets
6,617

 
6,861

 
6,745

 
7,057

 
24,735

 
1,467

 
1,487

 
1,607

Acquisition and integration costs
11,011

 
11,962

 
12,164

 
7,134

 
13,463

 
2,067

 
—

 
—

Restructuring and related
18,024

 
2,168

 
3,471

 
17,188

 
10,804

 
191

 
1,680

 
(163
)
Other operating expenses
136,625

 
135,125

 
147,260

 
146,741

 
149,726

 
91,612

 
102,757

 
105,402

Total operating expenses
172,277

 
156,116

 
169,640

 
178,120

 
198,728

 
95,337

 
105,924

 
106,846

Loss from operations
(60,871
)
 
(69,287
)
 
(108,384
)
 
(111,688
)
 
(114,224
)
 
(25,158
)
 
(21,619
)
 
(24,678
)
Other income (expense), net
(5,886
)
 
(13,932
)
 
(3,887
)
 
(9,720
)
 
(19,231
)
 
(7,317
)
 
(443
)
 
(2,280
)
Loss before income taxes
(66,757
)
 
(83,219
)
 
(112,271
)
 
(121,408
)
 
(133,455
)
 
(32,475
)
 
(22,062
)
 
(26,958
)
Provision for (benefit from) income taxes
(163
)
 
1,548

 
1,385

 
193

 
12

 
135

 
(124
)
 
(678
)
Net loss
$
(66,594
)
 
$
(84,767
)
 
$
(113,656
)
 
$
(121,601
)
 
$
(133,467
)
 
$
(32,610
)
 
$
(21,938
)
 
$
(26,280
)
Net loss per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
(0.37
)
 
$
(0.47
)
 
$
(0.64
)
 
$
(0.69
)
 
$
(0.76
)
 
$
(0.21
)
 
$
(0.14
)
 
$
(0.17
)
Diluted
$
(0.37
)
 
$
(0.47
)
 
$
(0.64
)
 
$
(0.69
)
 
$
(0.76
)
 
$
(0.21
)
 
$
(0.14
)
 
$
(0.17
)


The Company operates and reports financial results on a fiscal year of 52 or 53 weeks ending on the last Saturday of December in each year. Accordingly, fiscal years 2019 and 2018 were 52-week years that ended on December 28, 2019, and December 29, 2018 respectively. The quarters for fiscal years 2019, and 2018 were 13-week quarters.
During the fourth quarter of 2018, the Company completed the Coriant Acquisition, which was accounted for as a business combination, and accordingly, the Company has consolidated the financial results of
Coriant with its financial results for the period from the Acquisition Date through December 28, 2019. For more information, see Note 7, “Business Combination” to the Notes to Consolidated Financial Statements.
In December of 2018, the Company implemented a restructuring initiative (the “2018 Restructuring Plan”) as part of a comprehensive review of the Company's operations and ongoing integration activities in order to optimize resources for future growth, improve efficiencies and address redundancies following the Acquisition. These integration initiatives and restructuring initiatives continued through 2019. For more information on the Company's restructuring plans, see Note 10, “Restructuring and Other Related Costs” to the Notes to Consolidated Financial Statements.
Effective December 30, 2018, the Company adopted Topic 842, using the alternative modified transition method. Results for the reporting periods beginning December 30, 2018 are presented under Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with the Company's historical accounting under Accounting Standards Codification (“ASC”) Topic 840, “Leases.” The company incurred lease impairment costs included in restructuring expenses.