XML 28 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
Organization and Significant Accounting Policies (Tables)
9 Months Ended
Sep. 23, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Customers as Percentage of Total Sales

The Company’s most significant customers (having accounted for 10% or more of sales) and their related sales as a percentage of total sales were as follows:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

 

September 23,

 

 

September 25,

 

 

September 23,

 

 

September 25,

 

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

Lam Research Corporation

 

 

49.5

 

%

 

49.4

 

%

 

53.5

 

%

 

50.4

 

%

Applied Materials, Inc.

 

 

30.9

 

 

 

26.4

 

 

 

27.3

 

 

 

27.1

 

 

Total

 

 

80.4

 

%

 

75.8

 

%

 

80.8

 

%

 

77.5

 

%

 

Assets or Liabilities Measured at Fair Value

The following table summarizes, for assets or liabilities measured at fair value, the respective fair value and the classification by level of input within the fair value hierarchy (in thousands):

 

 

 

 

 

 

 

Fair Value Measurement at

 

 

 

 

 

 

 

Reporting Date Using

 

Description

 

September 23, 2016

 

 

Quoted Prices in

Active Markets for Identical Assets

(Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant Unobservable

Inputs

(Level 3)

 

Other liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap

 

$

56

 

 

$

 

 

$

56

 

 

$

 

Contingent earn-out liability

 

$

2,236

 

 

$

 

 

$

 

 

$

2,236

 

 

 

 

 

 

 

 

Fair Value Measurement at

 

 

 

 

 

 

 

Reporting Date Using

 

Description

 

December 25, 2015

 

 

Quoted Prices in

Active Markets for

Identical Assets

(Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund deposits

 

$

640

 

 

$

640

 

 

$

 

 

$

 

Other liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap

 

$

23

 

 

$

 

 

$

23

 

 

$

 

Contingent earn-out liability

 

$

831

 

 

$

 

 

$

 

 

$

831

 

 

Schedule of Option Activity

Stock option activity for the nine months ended September 23, 2016:

 

 

 

Shares

 

 

Weighted

Average

Exercise Price

 

 

Weighted

Remaining

Contractual

Life (years)

 

 

Aggregate

Intrinsic Value

(in thousands)

 

Outstanding at December 25, 2015

 

 

315,648

 

 

$

10.02

 

 

 

2.06

 

 

$

216

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(100,000

)

 

 

3.96

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(50,489

)

 

$

11.74

 

 

 

 

 

 

 

 

 

Outstanding at September 23, 2016

 

 

165,159

 

 

$

13.17

 

 

 

0.74

 

 

$

103

 

Options exercisable at September 23, 2016

 

 

165,159

 

 

$

13.17

 

 

 

0.74

 

 

$

103

 

 

Summary of Restricted Stock Unit and Restricted Stock Award Activity

The following table summarizes the Company’s RSU and RSA activity for the nine months ended September 23, 2016:

 

 

 

Shares

 

 

Aggregate

Fair Value

(in thousands)

 

Unvested restricted stock units and restricted stock awards

   at December 25, 2015

 

 

1,267,942

 

 

$

6,563

 

Granted

 

 

1,116,360

 

 

 

 

 

Vested

 

 

(645,926

)

 

 

 

 

Forfeited

 

 

(266,704

)

 

 

 

 

Unvested restricted stock units and restricted stock awards

   at September 23, 2016

 

 

1,471,672

 

 

$

10,361

 

Vested and expected to vest restricted stock units and

   restricted stock awards at September 23, 2016

 

 

1,228,188

 

 

$

8,646

 

 

Stock-Based Compensation Expense Included in Condensed Consolidated Statements of Operations

The following table shows the Company’s stock-based compensation expense included in the Condensed Consolidated Statements of Operations (in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 23,

 

 

September 25,

 

 

September 23,

 

 

September 25,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Cost of sales (1)

 

$

362

 

 

$

304

 

 

$

828

 

 

$

908

 

Research and development

 

 

1,277

 

 

 

658

 

 

 

1,405

 

 

 

1,247

 

Sales and marketing

 

 

76

 

 

 

49

 

 

 

253

 

 

 

150

 

General and administrative

 

 

142

 

 

 

103

 

 

 

1,554

 

 

 

302

 

 

 

 

1,857

 

 

 

1,114

 

 

 

4,040

 

 

 

2,607

 

Income tax benefit

 

 

(935

)

 

 

(310

)

 

 

(3,979

)

 

 

(746

)

Stock-based compensation expense, net of tax

 

$

922

 

 

$

804

 

 

$

61

 

 

$

1,861

 

(1)

Stock-based compensation expenses capitalized in inventory for the three and nine months ended September 23, 2016 and September 25, 2015 were not significant.