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Organization and Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2017
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

 

 

 

 

March 31,

 

 

March 25,

 

 

 

 

2017

 

 

2016

 

 

Lam Research Corporation

 

 

58.7

 

%

 

56.6

 

%

Applied Materials, Inc.

 

 

26.9

 

 

 

23.1

 

 

Total

 

 

85.6

 

%

 

79.7

 

%

 

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

 

March 31, 2017

 

 

Quoted Prices in

Active Markets for Identical Assets

(Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

Other assets:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap

 

$

35

 

 

$

 

 

$

35

 

 

$

 

Other liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap

 

$

5

 

 

$

 

 

$

5

 

 

$

 

Contingent earn-out liability

 

$

587

 

 

$

 

 

$

 

 

$

587

 

 

 

 

 

 

 

 

Fair Value Measurement at

 

 

 

 

 

 

 

Reporting Date Using

 

Description

 

December 30, 2016

 

 

Quoted Prices in

Active Markets for

Identical Assets

(Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

Other assets:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap

 

$

15

 

 

$

 

 

$

15

 

 

$

 

Other liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap

 

$

6

 

 

$

 

 

$

6

 

 

$

 

Contingent earn-out liability

 

$

278

 

 

$

 

 

$

 

 

$

278

 

 

Schedule of Option Activity

Stock option activity for the three months ended March 31, 2017:

 

 

 

Shares

 

 

Weighted

Average

Exercise Price

 

 

Weighted

Remaining

Contractual

Life (years)

 

 

Aggregate

Intrinsic Value

(in thousands)

 

Outstanding at December 30, 2016

 

 

136,459

 

 

$

13.15

 

 

 

0.57

 

 

$

135

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(96,362

)

 

 

14.31

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(6,500

)

 

 

14.17

 

 

 

 

 

 

 

 

 

Outstanding at March 31, 2017

 

 

33,597

 

 

$

9.62

 

 

 

0.81

 

 

$

243

 

Options exercisable at March 31, 2017

 

 

33,597

 

 

$

9.62

 

 

 

0.81

 

 

$

243

 

 

Summary of Restricted Stock Unit and Restricted Stock Award Activity

The following table summarizes the Company’s RSU and RSA activity for the three months ended March 31, 2017:

 

 

 

Shares

 

 

Aggregate

Fair Value

(in thousands)

 

Unvested restricted stock units and restricted stock awards

   at December 30, 2016

 

 

1,757,507

 

 

$

16,466

 

Granted

 

 

 

 

 

 

 

Vested

 

 

(489,092

)

 

 

 

 

Forfeited

 

 

(14,658

)

 

 

 

 

Unvested restricted stock units and restricted stock awards

   at March 31, 2017

 

 

1,253,757

 

 

$

20,139

 

Vested and expected to vest restricted stock units and

   restricted stock awards at March 31, 2017

 

 

1,052,360

 

 

$

16,741

 

 

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

 

 

 

March 31,

 

 

March 25,

 

 

 

2017

 

 

2016

 

Cost of sales (1)

 

$

343

 

 

$

276

 

Research and development

 

 

53

 

 

 

61

 

Sales and marketing

 

 

124

 

 

 

77

 

General and administrative

 

 

862

 

 

 

651

 

 

 

 

1,382

 

 

 

1,065

 

Income tax benefit

 

 

(330)

 

 

 

 

Stock-based compensation expense, net of tax

 

$

1,052

 

 

$

1,065

 

 

(1)

Stock-based compensation expenses capitalized in inventory for the three months ended March 31, 2017 and March 25, 2016 were not significant.