XML 78 R35.htm IDEA: XBRL DOCUMENT v3.2.0.727
Quarterly Financial Information (Unaudited)
 12 Months Ended
Mar. 28, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information [Text Block]
Quarterly Financial Information (Unaudited) 
(In thousands, except per share data)
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter
Year ended March 28, 2015
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
Systems
$
23,424

 
$
30,273

 
$
31,750

 
$
26,156

Service
11,606

 
12,583

 
11,911

 
11,415

Total net sales
35,030

 
42,856

 
43,661

 
37,571

Cost of sales:
 
 
 
 
 
 
 
Systems
16,934

 
20,742

 
22,031

 
18,488

Service
5,808

 
7,349

 
6,917

 
6,168

Total cost of sales
22,742

 
28,091

 
28,948

 
24,656

Gross profit
12,288

 
14,765

 
14,713

 
12,915

Net operating expenses
21,298

 
20,323

 
20,716

 
24,197

(Benefit from) provision for income taxes
(713
)
 
441

 
437

 
69

Net loss
(8,251
)
 
(6,243
)
 
(6,376
)
 
(22,941
)
Basic net loss per share
(0.27
)
 
(0.20
)
 
(0.21
)
 
(0.75
)
Diluted net loss income per share
(0.27
)
 
(0.20
)
 
(0.21
)
 
(0.75
)
Dividends per outstanding common share
 
 
 
 
 
 
 
Declared
$
0.08

 
$
0.08

 
$
0.08

 
$
—

Paid
$
0.08

 
$
0.08

 
$
0.08

 
$
—

Year ended March 29, 2014
 
 
 
 
 
 
 
Net sales


 


 


 


Systems
$
38,050

 
$
49,751

 
$
27,704

 
$
26,549

Service
8,122

 
9,896

 
10,563

 
10,532

Total net sales
46,172

 
59,647

 
38,267

 
37,081

Cost of sales:
 
 
 
 
 
 
 
Systems
22,625

 
31,398

 
17,249

 
29,598

Service
5,088

 
4,667

 
5,817

 
4,854

Total cost of sales
27,713

 
36,065

 
23,066

 
34,452

Gross profit
18,459

 
23,582

 
15,201

 
2,629

Net operating expenses
21,581

 
22,885

 
19,795

 
24,446

Provision for (benefit from) income taxes
101

 
(33
)
 
141

 
(301
)
Net loss
(3,283
)
 
(2,778
)
 
(4,640
)
 
(27,633
)
Basic net loss per share
(0.11
)
 
(0.09
)
 
(0.15
)
 
(0.92
)
Diluted net loss per share
(0.11
)
 
(0.09
)
 
(0.15
)
 
(0.92
)
Dividends per outstanding common share
 
 
 
 
 
 
 
Declared
$
0.08

 
$
0.08

 
$
0.08

 
$
0.08

Paid
$
0.08

 
$
0.08

 
$
0.08

 
$
0.08

The sum of the quarterly data presented in the table above for fiscal 2015 and 2014 may not equal annual results due to rounding.
1.
In the fourth quarter of 2015, gross profit included $1.0 million of charges for inventory write-offs related to the Chelmsford, Massachusetts restructuring plan.
2.
In the fourth quarter of 2015, net operating expenses included a non-cash goodwill impairment charge of $7.9 million to write down the goodwill to its implied fair value as of March 28, 2015, a $2.0 million restructuring cost related to the Chelmsford, Massachusetts restructuring plan, primarily consisting of employee severance and related costs.
3.
In each of the third and fourth quarters of 2015, net operating expenses included $0.3 million and $0.5 million of acquisition and integration charges related to Topwin.
4.
In the fourth quarter of 2015, net non-operating expenses included a loss on a cost method investment of $4.3 million and a $0.6 million gain on liquidation of a foreign subsidiary.
5.
In the fourth quarter of 2015, the Board of Directors voted to suspend the quarterly dividend.
6.
In the fourth quarter of 2014, gross profit included $12.8 million of charges for inventory write-offs.
7.
In the fourth quarter of 2014, gross profit included $1.1 million in restructuring costs, and $1.0 million in charges for asset write-offs.
8.
In the fourth and second quarters of 2014, net non-operating expenses included an other-than-temporary impairment of a cost method investment of $6.1 million and $3.6 million, respectively.
9.
In the third quarter of 2014, net operating expenses included a net gain on sale of property and equipment of $1.3 million.