Organization and Significant Accounting Policies (Tables)

6 Months Ended

Jun. 28, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

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	June 28, 2019		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Other assets:
Forward contracts	$	188	$	—	$	188	$	—
Other liabilities:
Contingent earn-out liabilities	$	3,870	$	—	$	—	$	3,870
Pension obligation	$	3,293	$	—	$	—	$	3,293
Purchase obligation	$	8,500	$	—	$	—	$	8,500

			Fair Value Measurement at
			Reporting Date Using
Description	December 28, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Other assets:
Forward contracts	$	240	$	—	$	240	$	—
Other liabilities:
Contingent earn-out liability	$	3,924	$	—	$	—	$	3,924
Pension obligation	$	3,531	$	—	$	—	$	3,531
Purchase obligation	$	8,500	$	—	$	—	$	8,500

Summary of Qualitative Information About Level 3 Fair Value Measurements

The Company’s Level 3 liabilities are incurred as a result of the QGT and DMS acquisitions. There were no transfers from Level 1 or Level 2 to Level 3. Fair value adjustments were noncash, and therefore did not impact the Company’s liquidity or capital resources. Qualitative information about Level 3 fair value measurements are primarily as follows (in thousands, except the range):

	June 28,		Valuation	Unobservable
	2019		Techniques	Input	Range
Contingent earn-out liability	$	3,870	Monte carlo simulation	Revenue discount rate	10.0% - 15.0%
				Internal forecasts		7.5	%
Pension obligation	$	3,293	Projected unit credit method	Discount rate	2.43% - 2.74%
				Rate on return	1.37% - 1.78%
				Salary increase rate		4.42	%
Purchase obligation	$	8,500	Discounted cash flow	EBITDA Multiple	6.21

Summary of Level 3 Activity

Following is a summary of the Level 3 activity (in thousands):

	Contingent earn-out liability			Purchase obligation		Pension obligation
As of December 28, 2018	$	3,924		$	8,500	$	3,531
Additions		1,428		—		—
Fair value adjustments		(1,482	)	—			(238	)
As of June 28, 2019	$	3,870		$	8,500	$	3,293

Summary of Restricted Stock Unit, Performance Stock Units and Restricted Stock Award Activity

The following table summarizes the Company’s RSU, PSU and RSA activity for the six months ended June 28, 2019:

	Shares			Aggregate Fair Value (in thousands)
Unvested restricted stock units and restricted stock awards    at December 28, 2018		1,777,379		$	14,592
Granted		979,326
Vested		(540,663	)
Forfeited		(55,496	)
Unvested restricted stock units and restricted stock awards    at June 28, 2019		2,160,546		$	30,075
Vested and expected to vest restricted stock units and    restricted stock awards at June 28, 2019		1,797,789		$	25,025

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						Six Months Ended
	June 28,			June 29,			June 28,			June 29,
	2019			2018			2019			2018
Cost of sales (1)	$	566		$	517		$	1,204		$	1,023
Research and development		45			10			88			71
Sales and marketing		329			193			674			396
General and administrative		1,924			1,636			3,811			3,430
		2,864			2,356			5,777			4,920
Income tax benefit		(3,146	)		(312	)		(4,609	)		(540	)
Stock-based compensation expense, net of tax	$	(282	)	$	2,044		$	1,168		$	4,380

(1) Stock-based compensation expense capitalized in inventory for the three and six months ended June 28, 2019 and June 29, 2018 was not significant.