Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Mar. 30, 2014 | Jun. 09, 2014 | Sep. 27, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'Exar Corporation | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--03-30 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 47,242,288 | ' |
Entity Public Float | ' | ' | $278,800,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000753568 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 30-Mar-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $14,614 | $14,718 |
Short-term marketable securities | 152,420 | 190,587 |
Accounts receivable (net of allowances of $1,178 and $944) | 15,023 | 12,614 |
Accounts receivable, related party (net of allowances of $608 and $346) | 3,309 | 3,374 |
Inventories | 28,982 | 19,430 |
Other current assets | 3,549 | 3,177 |
Total current assets | 217,897 | 243,900 |
Property, plant and equipment, net | 21,280 | 24,100 |
Goodwill | 30,410 | 10,356 |
Intangible assets, net | 31,390 | 13,338 |
Other non-current assets | 1,240 | 1,474 |
Total assets | 302,217 | 293,168 |
Current liabilities: | ' | ' |
Accounts payable | 15,488 | 9,455 |
Accrued compensation and related benefits | 4,174 | 3,624 |
Deferred income and allowances on sales to distributors | 1,765 | 2,399 |
Deferred income and allowances on sales to distributors, related party | 9,349 | 9,475 |
Other current liabilities | 11,370 | 15,215 |
Total current liabilities | 42,146 | 40,168 |
Long-term lease financing obligations | 70 | 1,342 |
Other non-current obligations | 6,626 | 11,204 |
Total liabilities | 48,842 | 52,714 |
Commitments and contingencies (Notes 15, 16 and 17) | ' | ' |
Stockholders’ equity: | ' | ' |
Common stock, $.0001 par value; 100,000,000 shares authorized; 47,336,005 and 46,607,246 shares outstanding (net of treasury shares) | 5 | 5 |
Additional paid-in capital | 508,116 | 749,426 |
Accumulated other comprehensive loss | -1,079 | -526 |
Treasury stock at cost, 0 and 19,924,369 shares | ' | -248,983 |
Accumulated deficit | -253,667 | -259,468 |
Total stockholders’ equity | 253,375 | 240,454 |
Total liabilities and stockholders’ equity | $302,217 | $293,168 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Accounts receivable, allowances (in Dollars) | $1,178 | $944 |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares outstanding | 47,336,005 | 46,607,246 |
Treasury stock at cost, shares | 0 | 19,924,369 |
Related Party [Member] | ' | ' |
Accounts receivable, allowances (in Dollars) | $608 | $346 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Sales: | ' | ' | ' |
Net sales | $89,595,000 | $85,856,000 | $89,988,000 |
Net sales, related party | 35,727,000 | 36,170,000 | 40,578,000 |
Total net sales | 125,322,000 | 122,026,000 | 130,566,000 |
Cost of sales: | ' | ' | ' |
Cost of sales | 48,067,000 | 45,943,000 | 49,839,000 |
Cost of sales, related party | 15,738,000 | 16,716,000 | 19,888,000 |
Amortization of purchased intangible assets and inventory step-up cost | 7,600,000 | 3,379,000 | 3,603,000 |
Impairment of intangible assets | 1,636,000 | 0 | 0 |
Warranty reserve | 1,440,000 | ' | ' |
Restructuring charges and exit costs | 3,000,000 | ' | 14,200,000 |
Total cost of sales | 74,668,000 | 66,339,000 | 74,642,000 |
Gross profit | 50,654,000 | 55,687,000 | 55,924,000 |
Operating expenses: | ' | ' | ' |
Research and development | 27,048,000 | 22,376,000 | 35,006,000 |
Selling, general and administrative | 33,055,000 | 32,531,000 | 38,598,000 |
Merger and acquisition costs | 1,880,000 | 110,000 | ' |
Net change in fair value of contingent consideration | -10,455,000 | ' | ' |
Total operating expenses, net | 54,355,000 | 56,270,000 | 86,517,000 |
Loss from operations | -3,701,000 | -583,000 | -30,593,000 |
Other income and expense, net: | ' | ' | ' |
Interest income and other, net | 1,503,000 | 2,441,000 | 2,803,000 |
Interest expense | -156,000 | -165,000 | -215,000 |
Impairment of long term investment | -323,000 | ' | ' |
Total other income and expense, net | 1,024,000 | 2,276,000 | 2,588,000 |
Income (loss) before income taxes | -2,677,000 | 1,693,000 | -28,005,000 |
Provision for (benefit from) income taxes | -8,478,000 | -1,189,000 | 51,000 |
Net income (loss) | 5,801,000 | 2,882,000 | -28,056,000 |
Net income (loss) per share: | ' | ' | ' |
Basic (in Dollars per share) | $0.12 | $0.06 | ($0.63) |
Diluted (in Dollars per share) | $0.12 | $0.06 | ($0.63) |
Shares used in the computation of net income (loss) per share: | ' | ' | ' |
Basic (in Shares) | 47,291 | 45,809 | 44,796 |
Diluted (in Shares) | 48,823 | 46,476 | 44,796 |
Cost of Sales [Member] | ' | ' | ' |
Cost of sales: | ' | ' | ' |
Restructuring charges and exit costs | 187,000 | 301,000 | 1,312,000 |
Operating Expense [Member] | ' | ' | ' |
Cost of sales: | ' | ' | ' |
Restructuring charges and exit costs | $2,827,000 | $1,253,000 | $12,913,000 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Net income (loss) | $5,801 | $2,882 | ($28,056) |
Changes in market value of investments, net of tax: | ' | ' | ' |
Changes in unrealized gain (loss) on investments | -754 | -243 | 385 |
Reclassification adjustment for net realized gains (losses) | 201 | -82 | -299 |
Net change in market value of investments | -553 | -325 | 86 |
Comprehensive income (loss) | $5,248 | $2,557 | ($27,970) |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Balance at Mar. 27, 2011 | $4,000 | ($248,983,000) | $728,139,000 | ($234,294,000) | ($287,000) | $244,579,000 |
Balance (in Shares) at Mar. 27, 2011 | 64,444,032 | -19,924,369 | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | -28,056,000 | ' | -28,056,000 |
Change in unrealized gains on marketable securities | ' | ' | ' | ' | 86,000 | 86,000 |
Shares issued through employee stock plans | 1,000 | ' | 3,144,000 | ' | ' | 3,145,000 |
Shares issued through employee stock plans (in Shares) | 485,210 | ' | ' | ' | ' | 62,000 |
Shares issued in connection with acquisitions | ' | ' | 24,000 | ' | ' | 24,000 |
Shares issued in connection with acquisitions (in Shares) | 3,358 | ' | ' | ' | ' | ' |
Shares issued for vested restricted stock units | ' | ' | 16,000 | ' | ' | 16,000 |
Shares issued for vested restricted stock units (in Shares) | 278,080 | ' | ' | ' | ' | ' |
Withholding of shares for tax obligations on vested restricted stock units | ' | ' | -252,000 | ' | ' | -252,000 |
Withholding of shares for tax obligations on vested restricted stock units (in Shares) | -41,078 | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | ' | 0 |
Stock-based compensation | ' | ' | 3,750,000 | ' | ' | 3,750,000 |
Balance at Apr. 01, 2012 | 5,000 | -248,983,000 | 734,821,000 | -262,350,000 | -201,000 | 223,292,000 |
Balance (in Shares) at Apr. 01, 2012 | 65,169,602 | -19,924,369 | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | 2,882,000 | ' | 2,882,000 |
Change in unrealized gains on marketable securities | ' | ' | ' | ' | -325,000 | -325,000 |
Shares issued through employee stock plans | ' | ' | 6,296,000 | ' | ' | 6,296,000 |
Shares issued through employee stock plans (in Shares) | 903,772 | ' | ' | ' | ' | 26,000 |
Shares issued in connection with acquisitions | ' | ' | 3,740,000 | ' | ' | 3,740,000 |
Shares issued in connection with acquisitions (in Shares) | 357,873 | ' | ' | ' | ' | ' |
Shares issued for vested restricted stock units (in Shares) | 125,095 | ' | ' | ' | ' | ' |
Withholding of shares for tax obligations on vested restricted stock units | ' | ' | -219,000 | ' | ' | -219,000 |
Withholding of shares for tax obligations on vested restricted stock units (in Shares) | -24,727 | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | ' | 0 |
Stock-based compensation | ' | ' | 4,788,000 | ' | ' | 4,788,000 |
Balance at Mar. 31, 2013 | 5,000 | -248,983,000 | 749,426,000 | -259,468,000 | -526,000 | 240,454,000 |
Balance (in Shares) at Mar. 31, 2013 | 66,531,615 | -19,924,369 | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | 5,801,000 | ' | 5,801,000 |
Change in unrealized gains on marketable securities | ' | ' | ' | ' | -553,000 | -553,000 |
Shares issued through employee stock plans | ' | ' | 5,833,000 | ' | ' | 5,833,000 |
Shares issued through employee stock plans (in Shares) | 805,527 | ' | ' | ' | ' | 20,000 |
Shares issued in connection with acquisitions | ' | ' | 5,005,000 | ' | ' | 5,005,000 |
Shares issued in connection with acquisitions (in Shares) | 438,995 | ' | ' | ' | ' | ' |
Shares issued for vested restricted stock units | ' | ' | 12,000 | ' | ' | 12,000 |
Shares issued for vested restricted stock units (in Shares) | 346,407 | ' | ' | ' | ' | ' |
Withholding of shares for tax obligations on vested restricted stock units | ' | ' | -1,149,000 | ' | ' | -1,149,000 |
Withholding of shares for tax obligations on vested restricted stock units (in Shares) | -106,865 | ' | ' | ' | ' | ' |
Retirement of treasury shares | ' | 248,983,000 | -248,983,000 | ' | ' | ' |
Retirement of treasury shares (in Shares) | -19,924,369 | 19,924,369 | ' | ' | ' | 755,000 |
Repurchase of common stock | ' | ' | -9,000,000 | ' | ' | -9,000,000 |
Repurchase of common stock (in Shares) | -755,305 | ' | ' | ' | ' | ' |
Stock-based compensation | ' | ' | 6,972,000 | ' | ' | 6,972,000 |
Balance at Mar. 30, 2014 | $5,000 | ' | $508,116,000 | ($253,667,000) | ($1,079,000) | $253,375,000 |
Balance (in Shares) at Mar. 30, 2014 | 47,336,005 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | $5,801,000 | $2,882,000 | ($28,056,000) |
Reconciliation of net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' |
Impairment charges | 2,224,000 | ' | ' |
Depreciation and amortization | 12,947,000 | 10,809,000 | 14,898,000 |
Gain on sale of intangible asset | ' | -223,000 | ' |
Stock-based compensation expense | 8,852,000 | 4,788,000 | 3,750,000 |
Release of deferred tax valuation allowance | -6,940,000 | ' | ' |
Net change in fair value of contingent consideration | -10,455,000 | ' | ' |
Changes in operating assets and liabilities, net of effects of acquisitions: | ' | ' | ' |
Accounts receivable and accounts receivable, related party | -1,960,000 | -4,616,000 | 1,598,000 |
Inventories | -5,907,000 | -930,000 | 3,588,000 |
Other current and non-current assets | -305,000 | 528,000 | 683,000 |
Accounts payable | 5,505,000 | 1,632,000 | -971,000 |
Accrued compensation and related benefits | 412,000 | -513,000 | -2,364,000 |
Other current liabilities | -8,563,000 | -5,847,000 | 6,836,000 |
Deferred income and allowance on sales to distributors and related party distributor | -760,000 | -1,144,000 | -2,294,000 |
Net cash provided by (used in) operating activities | 851,000 | 7,366,000 | -2,332,000 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property, plant and equipment and intellectual property, net | -2,658,000 | -1,385,000 | -2,539,000 |
Purchases of short-term marketable securities | -257,946,000 | -200,654,000 | -169,688,000 |
Proceeds from maturities of short-term marketable securities | 31,821,000 | 48,687,000 | 63,226,000 |
Proceeds from sales of short-term marketable securities | 264,221,000 | 148,914,000 | 105,040,000 |
Acquisitions, net of cash | -22,777,000 | -750,000 | ' |
Other disposal activities | 125,000 | 360,000 | 384,000 |
Net cash provided by (used in) investing activities | 12,786,000 | -4,828,000 | -3,577,000 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from issuance of common stock | 5,844,000 | 6,515,000 | 3,145,000 |
Shares withheld on RSUs released | -1,149,000 | -219,000 | ' |
Repayment of debt assumed from Stretch acquisition | -6,187,000 | ' | ' |
Repurchase of common stock | -9,000,000 | ' | ' |
Repayment of lease financing obligations | -3,249,000 | -2,830,000 | -3,561,000 |
Net cash provided by (used) in financing activities | -13,741,000 | 3,466,000 | -416,000 |
Net increase (decrease) in cash and cash equivalents | -104,000 | 6,004,000 | -6,325,000 |
Cash and cash equivalents at the beginning of year | 14,718,000 | 8,714,000 | 15,039,000 |
Cash and cash equivalents at the end of year | 14,614,000 | 14,718,000 | 8,714,000 |
Supplemental disclosure of cash flow and non-cash information: | ' | ' | ' |
Return of Hillview Facility to Lessor | ' | ' | 12,167,000 |
Issuance of common stock in connection with acquisitions | 5,005,000 | 3,740,000 | 24,000 |
Cash paid for income taxes | 106,000 | 154,000 | 122,000 |
Cash received from income taxes refund | 4,000 | ' | 19,000 |
Cash paid for interest | 155,000 | 165,000 | 193,000 |
Property, plant and equipment acquired under capital lease | ' | ' | 8,478,000 |
Hifn and Others [Member] | ' | ' | ' |
Supplemental disclosure of cash flow and non-cash information: | ' | ' | ' |
Issuance of common stock in connection with acquisitions | 10,000 | 19,000 | 24,000 |
Altior [Member] | ' | ' | ' |
Supplemental disclosure of cash flow and non-cash information: | ' | ' | ' |
Issuance of common stock in connection with acquisitions | ' | 3,740,000 | ' |
Cadeka [Member] | ' | ' | ' |
Supplemental disclosure of cash flow and non-cash information: | ' | ' | ' |
Issuance of common stock in connection with acquisitions | $5,005,000 | ' | ' |
Note_1_Description_of_Business
Note 1 - Description of Business | 12 Months Ended |
Mar. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
NOTE 1. DESCRIPTION OF BUSINESS | |
Exar Corporation was incorporated in California in 1971 and reincorporated in Delaware in 1991. Exar Corporation and its subsidiaries (“Exar,” “us,” “our” or “we”) is a fabless semiconductor company that designs, develops and markets high performance analog mixed-signal integrated circuits and advanced sub-system solutions for the Networking & Storage, Industrial & Embedded, and Communications Infrastructure markets. |
Note_2_Revision_of_Prior_Perio
Note 2 - Revision of Prior Period Financial Statements | 12 Months Ended |
Mar. 30, 2014 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Accounting Changes and Error Corrections [Text Block] | ' |
NOTE 2. REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS | |
During the first quarter of fiscal 2013, we identified an error in our accounting for stock-based compensation previously recorded in the fourth quarter of fiscal 2012. We assessed the materiality of the error on prior periods' financial statements and concluded that the error was not material to any of our prior period annual or interim financial statements. We elected to revise previously issued consolidated financial statements the next time they were filed. As each subsequent filing is made in the future, the previous period consolidated financial statements affected by the errors will be revised. We have revised the April 1, 2012 consolidated balance sheet and the statements of operations for fiscal year 2012 included herein to reflect the correct balances. We reduced the additional paid-in capital and accumulated deficit each by $741,000 as of the end of fiscal year 2012 related to the above mentioned error as shown in the consolidated statements of stockholders’ equity and net loss as reported for fiscal year 2012 was reduced accordingly by $741,000. |
Note_3_Accounting_Policies
Note 3 - Accounting Policies | 12 Months Ended | ||||||||
Mar. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||
NOTE 3. ACCOUNTING POLICIES | |||||||||
Basis of Presentation— Our fiscal years consist of 52 or 53 weeks. In a 52-week year, each fiscal quarter consists of 13 weeks. Fiscal years 2014, 2013 and 2012 consisted of 52, 52 and 53 weeks, respectively. Fiscal year 2015 will consist of 52 weeks. Fiscal years ended March 30, 2014, March 31, 2013 and April 1, 2012 are also referred to as “2014,” “2013,” and “2012,” respectively, unless otherwise indicated. | |||||||||
Certain reclassifications have been made to the prior year consolidated financial statements to conform to the current year’s presentation. Such reclassification had no effect on previously reported results of operations or stockholders’ equity. | |||||||||
Principles of Consolidation—The consolidated financial statements include the accounts of Exar and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. | |||||||||
Use of Management Estimates—The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including (1) revenue recognition; (2) allowance for doubtful accounts; (3) valuation of inventories; (4) income taxes; (5) stock-based compensation; (6) goodwill; (7) long-lived assets; (8) contingent consideration; and (9) warranty liabilities. Actual results could differ from these estimates and material effects on operating results and financial position may result. | |||||||||
Business Combinations—The estimated fair value of acquired assets and assumed liabilities and the results of operations of acquired businesses are included in our consolidated financial statements from the effective date of the purchase. The total purchase price is allocated to the estimated fair value of assets acquired and liabilities assumed. (See Note 4—“Business Combinations.”) | |||||||||
Cash and Cash Equivalents—We consider all highly liquid debt securities and investments with maturities of 90 days or less from the date of purchase to be cash and cash equivalents. Cash and cash equivalents also consist of cash on deposit with banks and money market funds. | |||||||||
Inventories—Inventories are recorded at the lower of cost or market, determined on a first-in, first-out basis. Cost is computed using the standard cost, which approximates average actual cost. Inventory is written down when conditions indicate that the selling price could be less than cost due to physical deterioration, obsolescence, changes in price levels, or other causes. The write-down of excess inventories is generally based on inventory levels in excess of 12 months of demand, as judged by management, for each specific product. | |||||||||
Property, Plant and Equipment—Property, plant and equipment, including assets held under capital leases and leasehold improvements, are stated at cost less accumulated depreciation and amortization. Depreciation for machinery and equipment is computed using the straight-line method over the estimated useful lives of the assets, which ranges from three to 10 years. Buildings are depreciated using the straight-line method over an estimated useful life of 30 years. Assets held under capital leases and leasehold improvements are amortized over the shorter of the terms of the leases or their estimated useful lives. Land is not depreciated. | |||||||||
Non-Marketable Equity Securities—Non-marketable equity investments are accounted for at historical cost and are presented on our consolidated balance sheets within other non-current assets. | |||||||||
Other-Than-Temporary Impairment—All of our marketable and non-marketable investments are subject to periodic impairment reviews. Investments are considered to be impaired when a decline in fair value is judged to be other-than-temporary, as follows: | |||||||||
Marketable investments—When the resulting fair value is significantly below cost basis and/or the significant decline has lasted for an extended period of time, we perform an evaluation to determine whether the marketable equity security is other than temporarily impaired. The evaluation that we use to determine whether a marketable equity security is other than temporarily impaired is based on the specific facts and circumstances present at the time of assessment, which include significant quantitative and qualitative assessments and estimates regarding credit ratings, collateralized support, the length of time and significance of a security’s loss position and intent and ability to hold a security to maturity or forecasted recovery. Other-than-temporary declines in value of our investments are reported in the impairment of long term investment line in the consolidated statements of operations. | |||||||||
Non-marketable equity investments—When events or circumstances are identified that would likely have a significant adverse effect on the fair value of the investment and the fair value is significantly below cost basis and/or the significant decline has lasted for an extended period of time, we perform an impairment analysis. The indicators that we use to identify those events and circumstances include: | |||||||||
• | the investment manager’s evaluation; | ||||||||
• | the investee’s revenue and earnings trends relative to predefined milestones and overall business prospects; | ||||||||
• | the technological feasibility of the investee’s products and technologies; | ||||||||
• | the general market conditions in the investee’s industry; and | ||||||||
• | the investee’s liquidity, debt ratios and the rate at which the investee is using cash. | ||||||||
Investments identified as having an indicator of impairment are subject to further analysis to determine if the investment is other than temporarily impaired, and if so, the investment is written-down to its impaired value. When an investee is not considered viable from a financial or technological point of view, the entire investment is written down. Impairment of non-marketable equity investments is recorded in the impairment charges on investments line in the consolidated statements of operations. | |||||||||
Goodwill— Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. We evaluate goodwill for impairment on an annual basis or whenever events and changes in circumstances suggest that the carrying amount may not be recoverable. We conduct our annual impairment analysis in the fourth quarter of each fiscal year. Impairment of goodwill is tested at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. Estimations and assumptions regarding the number of reporting units, future performances, results of our operations and comparability of our market capitalization and net book value will be used. If the carrying amount of the reporting unit exceeds its fair value, goodwill is considered impaired and a second step is performed to measure the amount of impairment loss. Because we have one reporting unit, we utilize an entity-wide approach to assess goodwill for impairment. | |||||||||
Long-Lived Assets—We review long-lived assets, including property and equipment and intangible assets, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets (or asset group) may not be fully recoverable. Whenever events or changes in circumstances suggest that the carrying amount of long-lived assets may not be recoverable, we estimate the future cash flows expected to be generated by the assets (or asset group) from its use or eventual disposition. If the sum of the expected future cash flows is less than the carrying amount of those assets, we recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets. Significant management judgment is required in the grouping of long-lived assets and forecasts of future operating results that are used in the discounted cash flow method of valuation. If our actual results, or the plans and estimates used in future impairment analyses are lower than the original estimates used to assess the recoverability of these assets, we could incur additional impairment charges. | |||||||||
When we determine that the useful lives of assets are shorter than we had originally estimated, we accelerate the rate of depreciation and/or amortization over the assets’ new, shorter useful lives. | |||||||||
Substantially all of our property, plant and equipment and other long-lived assets are located in the United States. | |||||||||
In-process research and development—In-process research and development (“IPR&D”) assets are considered indefinite-lived intangible assets and are not subject to amortization until their useful life is determined. IPR&D assets must be tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test consists of a comparison of the fair value of the IPR&D assets with their carrying values. If the carrying amount of the IPR&D asset exceeds its fair value, an impairment loss must be recognized in an amount equal to that excess. After an impairment loss is recognized, the adjusted carrying amount of the IPR&D assets will be their new accounting basis. Subsequent reversal of a previously recognized impairment loss is prohibited. The initial determination and subsequent evaluation for impairment of the IPR&D asset requires management to make significant judgments and estimates. Once an IPR&D project has been completed, the useful life of the IPR&D asset is determined and amortized accordingly. If the IPR&D asset is abandoned, the remaining carrying value is written off. | |||||||||
Income Taxes—Deferred taxes are recognized using the asset and liability method, whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, operating losses and tax credit carryforwards. Valuation allowances are provided if it is more likely than not that some or all of the deferred tax assets will not be realized. | |||||||||
Revenue Recognition—We recognize revenue in accordance with Financial Accounting Standards Board (“FASB”) authoritative guidance for revenue recognition. Four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) the price is fixed or determinable; and (4) collectability is reasonably assured. | |||||||||
We derive revenue principally from the sale of our products to distributors and to original equipment manufacturers (“OEMs”) or their contract manufacturers. Our delivery terms are primarily free on board shipping point, at which time title and all risks of ownership are transferred to the customer. | |||||||||
To date, software revenue has been an immaterial portion of our net sales. | |||||||||
Non-distributors—For non-distributors, revenue is recognized when title to the product is transferred to the customer, which occurs upon shipment or delivery, depending upon the terms of the customer order, provided that persuasive evidence of a sales arrangement exists, the price is fixed or determinable, collection of the resulting receivables is reasonably assured, there are no customer acceptance requirements and there are no remaining significant obligations. Provisions for returns and allowances for non-distributor customers are provided at the time product sales are recognized. Allowances for sales returns and other reserves are recorded based on historical experience or specific identification of an event necessitating an allowance. | |||||||||
Distributors—Agreements with our two primary distributors permit the return of 5% to 6% of their purchases during the preceding quarter for purposes of stock rotation. For one of these distributors, a scrap allowance of 1% of the preceding quarter’s purchases is permitted. We also provide discounts to certain distributors based on volume of product they sell for a specific product with a specific volume range for a given customer over a period not to exceed one year. | |||||||||
We recognize revenue from each of our distributors using the sell-in basis or sell-through basis, each as described below. Once adopted, the basis for revenue recognition for a distributor is maintained unless there is a change in circumstances indicating the basis for revenue recognition for that distributor is no longer appropriate. | |||||||||
• | Sell-in Basis—Revenue is recognized upon shipment if we conclude we meet the same criteria as for non-distributors discussed above and we can reasonably estimate the credits for returns, pricing allowances and/or other concessions. We record an estimated allowance, at the time of shipment, based upon historical patterns of returns, pricing allowances and other concessions (i.e., “sell-in” basis). | ||||||||
• | Sell-through Basis—Revenue and the related costs of sales are deferred until the resale to the end customer if we grant more than limited rights of return, pricing allowances and/or other concessions or if we cannot reasonably estimate the level of returns and credits issuable (i.e., “sell-through” basis). Under the sell-through basis, accounts receivable are recognized and inventory is relieved upon shipment to the distributor as title to the inventory is transferred upon shipment, at which point we have a legally enforceable right to collection under normal terms. The associated sales and cost of sales are deferred and are included in deferred income and allowances on sales to distributors in the consolidated balance sheet. When the related product is sold by our distributors to their end customers, at which time the ultimate price we receive is known, we recognize previously deferred income as sales and cost of sales. | ||||||||
The following table summarizes the deferred income balance, primarily consisting of sell-through distributors (in thousands): | |||||||||
As of March 30, | As of March 31, | ||||||||
2014 | 2013 | ||||||||
Deferred revenue at published list price | $ | 15,871 | $ | 18,652 | |||||
Deferred cost of revenue | (4,757 | ) | (6,778 | ) | |||||
Deferred income | $ | 11,114 | $ | 11,874 | |||||
Sell-through revenue recognition is highly dependent on receiving pertinent and accurate data from our distributors in a timely fashion. Distributors provide us periodic data regarding the product, price, quantity and end customer when products are resold as well as the quantities of our products they still have in stock. We must use estimates and apply judgments to reconcile distributors’ reported inventories to their activities. Any error in our judgment could lead to inaccurate reporting of our net sales, gross profit, deferred income and allowances on sales to distributors and net income. | |||||||||
Mask Costs— We incur costs for the fabrication of masks to manufacture our products. If we determine the product technological feasibility has been achieved when costs are incurred, the costs will be treated as pre-production costs and capitalized as machinery and equipment under property, plant and equipment. The amount will be amortized to cost of sales over the estimated production period of the product. If product technological feasibility has not been achieved or the mask is not expected to be utilized in production manufacturing, the related mask costs are expensed to Research and development (“R&D”) when incurred. We periodically assess capitalized mask costs for impairment. Total mask costs capitalized were $2.3 million and $1.7 million as of March 30, 2014 and March 31, 2013, respectively. The costs capitalized are amortized over five years commencing with the start of commercial production. | |||||||||
Research and Development Expenses—R&D costs consist primarily of salaries, employee benefits, certain types of mask tooling costs, depreciation, amortization, overhead, outside contractors, facility expenses, and non-recurring engineering fees. Expenditures for research and development are charged to expense as incurred. In accordance with FASB authoritative guidance for the costs of computer software to be sold, leased or otherwise marketed, certain software development costs are capitalized after technological feasibility has been established. The period from achievement of technological feasibility, which we define as the establishment of a working model, until the general availability of such software to customers, has been short, and therefore software development costs qualifying for capitalization have been insignificant. Accordingly, we have not capitalized any software development costs in fiscal years 2014, 2013 and 2012. | |||||||||
We have entered into an agreement under which certain R&D costs are eligible for reimbursement. Amounts reimbursed under this arrangement are offset against R&D expenses. During fiscal years 2014, 2013 and 2012, we offset $1.5 million, $2.0 million and $4.0 million, respectively, of R&D expenses in connection with such agreements. | |||||||||
Advertising Expenses—We expense advertising costs as incurred. Advertising expenses for fiscal years 2014, 2013 and 2012 were immaterial. | |||||||||
Comprehensive Income (Loss)—Comprehensive income (loss) includes charges or credits to equity related to changes in unrealized gains or losses on marketable securities, net of taxes. Comprehensive income (loss) for fiscal years 2014, 2013 and 2012 has been disclosed within the consolidated statements of comprehensive income (loss). | |||||||||
Foreign Currency—The accounts of foreign subsidiaries are remeasured to U.S. dollars for financial reporting purposes by using the U.S. dollar as the functional currency and exchange gains and losses are reported in income and expenses. These currency gains or losses are reported in interest income and other, net in the consolidated statements of operations. Monetary balance sheet accounts are remeasured using the current exchange rate in effect at the balance sheet date. For non-monetary items, the accounts are measured at the historical exchange rate. Revenues and expenses are remeasured at the average exchange rates for the period. Foreign currency transaction losses were immaterial for fiscal years 2014, 2013 and 2012. | |||||||||
Concentration of Credit Risk and Significant Customers—Financial instruments potentially subjecting us to concentrations of credit risk consist primarily of cash, cash equivalents, short-term marketable securities, accounts receivable and long-term investments. The majority of our sales are derived from distributors and manufacturers in the communications, industrial, storage and computer industries. We perform ongoing credit evaluations of our customers and generally do not require collateral for sales on credit. We maintain allowances for potential credit losses, and such losses have been within management’s expectations. Charges to bad debt expense were insignificant for fiscal years 2014, 2013 and 2012. Our policy is to invest our cash, cash equivalents and short-term marketable securities with high credit quality financial institutions and limit the amounts invested with any one financial institution or in any type of financial instrument. We do not hold or issue financial instruments for trading purposes. | |||||||||
We sell our products to distributors and OEMs throughout the world. Future Electronics, Inc. (“Future”), a related party, has been and continues to be our largest distributor. See “Note 19 — Segment and Geographic Information,” for distributors who accounted for more than 10% of net sales and accounts receivable. | |||||||||
Concentration of Other Risks—The majority of our products are currently fabricated by our foundry suppliers and are assembled and tested by third-party subcontractors located in Asia. A significant disruption in the operations of one or more of these subcontractors could impact the production of our products for a substantial period of time which could result in a material adverse effect on our business, financial condition and results of operations. | |||||||||
Fair Value of Financial Instruments—We estimate the fair value of our financial instruments by using available market information and valuation methodologies considered to be appropriate. However, considerable judgment is required in interpreting market data to develop the estimates of fair value. The use of different market assumptions and/or estimation methodologies could have a material effect on estimated fair value amounts. The estimated fair value of our cash equivalents, short-term marketable securities, accounts receivable, accounts payable and accrued liabilities presented in the consolidated balance sheets at March 30, 2014, March 31, 2013 and April 1, 2012 was not materially different from the carrying values due to the relatively short periods to maturity of the instruments. | |||||||||
Fair Value of Contingent Consideration—We estimate the fair value of our contingent consideration at the date of acquisition and is re-measured each reporting period and any changes in the fair value of the contingent consideration are recognized as a gain or loss in the consolidated statements of operations. The contingent consideration is valued with level three inputs. As of March 30, 2014 and March 31, 2013, the fair value of the contingent consideration was $4.3 million and $10.1 million, respectively and is included in current and noncurrent liabilities on the consolidated balance sheet. | |||||||||
Stock-Based Compensation—We measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. We use the Black-Scholes model to estimate the fair value of our options. The fair value of time-based and performance-based restricted stock units is based on the grant date share price. The fair value of market-based restricted stock units is estimated using a Monte Carlo simulation model. See Part II, Item 8—“Financial Statements and Supplementary Data” and “Notes to the Consolidated Financial Statements, Note 14—Stock-Based Compensation” for more details about our assumptions used in calculating the stock-based compensation expenses and equity related transactions during the fiscal year. | |||||||||
We recognize compensation expense equal to the grant-date fair value for all share-based payment awards that are expected to vest. This expense is recorded on a straight-line basis over the requisite service period of the entire awards, unless the awards are subject to performance or market conditions, in which case we recognize compensation expense over the requisite service period of each separate vesting tranche. For the performance-based awards, we recognize compensation expense when it becomes probable that the performance criteria specified in the plan will be achieved. For the market-based awards, compensation expense is not reversed if the market condition is not satisfied. The amount of stock-based compensation that we recognize is also based on an expected forfeiture rate. If there is a difference between the forfeiture assumptions used in determining stock-based compensation costs and the actual forfeitures which become known over time, we may change the forfeiture rate, which could have a significant impact on its stock-based compensation expense. In addition, we follow the “with-and-without” intra-period allocation approach in our tax attribute calculations | |||||||||
Recent Accounting Pronouncements | |||||||||
In July 2013, the FASB issued amended standards that provided explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward or a tax credit carryforward exists. Under the amended standards, the unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward or a tax credit carryforward. These amended standard updates will be effective for our interim period beginning after December 15, 2013 and applied prospectively with early adoption permitted. The adoption of this guidance did not have any material impact on our financial position, results of operations or cash flows. | |||||||||
In February 2013, the FASB issued amended standards to improve the reporting of reclassifications out of accumulated other comprehensive income by requiring an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. generally accepted accounting principles (“GAAP”) to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. These amended standards are effective for interim and annual reporting periods beginning after December 15, 2012. The adoption of this guidance did not have any material impact on our financial position, results of operations or cash flows. | |||||||||
In May 2014, the FASB issued a new standard, Revenue from Contracts with Customers, to clarify the principles for recognizing revenue to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (“IFRS”) that would (1) provide a more robust framework for addressing revenue recognition; (2) improve comparability of revenue recognition practice across entities, industries, jurisdictions, and capital markets; and (3) provide more useful information to users of financial statements through improved disclosure requirements. This standard is effective for annual reporting periods beginning after December 15, 2016. Exar is currently evaluating the effect the adoption of this standard will have, if any, on our consolidated financial position, results of operations or cash flows. |
Note_4_Business_Combinations
Note 4 - Business Combinations | 12 Months Ended | ||||
Mar. 30, 2014 | |||||
Business Combinations [Abstract] | ' | ||||
Business Combination Disclosure [Text Block] | ' | ||||
NOTE 4. BUSINESS COMBINATIONS | |||||
We periodically evaluate potential strategic acquisitions to, broaden our product offering and build upon our existing library of intellectual property, human capital and engineering talent, in order to expand our capabilities in the areas in which we operate or to acquire complementary businesses. | |||||
We account for each business combination by applying the acquisition method, which requires (1) identifying the acquiree; (2) determining the acquisition date; (3) recognizing and measuring the identifiable assets acquired, the liabilities assumed, and any non-controlling interest we have in the acquiree at their acquisition date fair value; and (4) recognizing and measuring goodwill or a gain from a bargain purchase. | |||||
Assets acquired and liabilities assumed in a business combination that arise from contingencies are recognized at fair value on the acquisition date if fair value can be determined during the measurement period. If fair value cannot be determined, we typically account for the acquired contingencies using existing guidance for a reasonable estimate. | |||||
To establish fair value, we measure the price that would be received to sell an asset or paid to transfer a liability in an ordinary transaction between market participants. The measurement assumes the highest and best use of the asset by the market participants that would maximize the value of the asset or the group of assets within which the asset would be used at the measurement date, even if the intended use of the asset is different. | |||||
Acquisition related costs, including finder’s fees, advisory, legal, accounting, valuation and other professional or consulting fees are accounted for as expenses in the periods in which the costs are incurred and the services are received, with the exception that the costs to issue debt or equity securities are recognized in accordance with other applicable GAAP. | |||||
Acquisition of Stretch | |||||
On January 14, 2014, we completed the acquisition of Stretch, Inc. (“Stretch”), a provider of software configurable processors supporting the video surveillance market previously located in Sunnyvale, California. The transaction provides Exar with the technology to deliver an end-to-end high-definition solution for both digital and analog transmission of data from the camera to the DVR or NVR in surveillance applications. Stretch’s results of operations and estimated fair value of assets acquired and liabilities assumed were included in our consolidated financial statements beginning January 14, 2014. The pro forma effects of the portion of the Stretch operations assumed through the transaction on our results of operations during fiscal year 2014 and 2013 were considered immaterial. | |||||
Consideration | |||||
Stretch was acquired for which the purchase consideration was $10,000 in cash. By acquiring Stretch, Exar acquired all of Stretch’s assets, consisting principally intellectual property, accounts receivable and inventory, as well as assumed all of Stretch’s liabilities and contractual obligations. | |||||
In accordance with Accounting Standard Codification (“ASC”) 805, Business Combinations, the acquisition of Stretch was recorded as a purchase business acquisition since Stretch was considered a business. Under the purchase method of accounting, the fair value of the consideration was allocated to net assets acquired at their fair values. The fair value of purchased identifiable intangible assets was determined using discounted cash flow models from operating projections prepared by management using an internal rate of return ranging from 17% to 21%. The excess of the preliminary fair value of consideration paid over the preliminary fair values of net assets acquired and identifiable intangible assets resulted in recognition of goodwill of approximately $0.7 million. The goodwill results largely of expected synergies from combining the operations of Stretch with that of Exar and is deductible over 15 years for tax purposes. | |||||
Preliminary Purchase Price Allocation | |||||
The allocation of the total preliminary purchase price to Stretch’s tangible and identifiable intangible assets and liabilities assumed was based on their estimated fair values at the date of acquisition. | |||||
The preliminary fair value allocated to each of the major classes of tangible and identifiable intangible assets acquired and liabilities assumed in the Stretch acquisition was as follows (in thousands): | |||||
Amount | |||||
Identifiable tangible assets (liabilities) | |||||
Cash | $ | 344 | |||
Accounts receivable | 143 | ||||
Inventories | 2,154 | ||||
Other current assets | 267 | ||||
Property, plant and equipment | 18 | ||||
Other assets | 11 | ||||
Debt assumed | (6,186 | ) | |||
Accounts payable and accruals | (3,408 | ) | |||
Other short-term liabilities | (1,010 | ) | |||
Total identifiable tangible assets (liabilities), net | (7,667 | ) | |||
Identifiable intangible assets | 7,010 | ||||
Total identifiable assets, net | (657 | ) | |||
Goodwill | 667 | ||||
Fair value of total consideration transferred | $ | 10 | |||
The following table sets forth the components of identifiable intangible assets acquired in connection with the Stretch acquisition (in thousands): | |||||
Fair Value | |||||
Developed technologies | $ | 5,990 | |||
Customer relations | 1,020 | ||||
Total identifiable intangible assets | $ | 7,010 | |||
In valuing specific components of the acquisition, that includes deferred taxes, and intangibles required us to make estimates that may be adjusted in the future, if new information is obtained about circumstances that existed as of the acquisition date that, if known, would have resulted in the recognition of those assets and liabilities as of that date. Thus, the purchase price allocation is considered preliminary and dependent upon the finalization of the valuation of assets acquired and liabilities assumed, including income tax effects. Final determination of these estimates could result in an adjustment to the preliminary purchase price allocation, with an offsetting adjustment to goodwill. | |||||
Acquisition Related Costs | |||||
Acquisition related costs, or deal costs, relating to Stretch are included in the selling, general and administrative line on the consolidated statement of operations for the fiscal year ended March 30, 2014 were approximately $0.5 million. | |||||
Unaudited Pro Forma Financial Information | |||||
The following unaudited pro forma condensed financial information presents the combined revenue of Exar and Stretch as if the acquisition had occurred as of April 1, 2013 (in thousands). | |||||
Year ended | |||||
30-Mar-14 | |||||
Net sales | $ | 134,290 | |||
The combined net income and basic and diluted earnings per shares were immaterial. It was impracticable to present the combined financials for fiscal year 2013. The unaudited pro forma financial information is not intended to represent or be indicative of the revenue of Exar that would have been reported had the acquisition been completed as of the beginning of fiscal year 2014, and should not be taken as representative of the future revenue of Exar. | |||||
Acquisition of Cadeka | |||||
On July 5, 2013, we completed the acquisition of substantially all of the assets of Cadeka Technologies (Cayman) Holding Ltd., a privately held company organized under the laws of the Cayman Islands and all the outstanding stock of the subsidiaries of Cadeka, including the equity of its wholly owned subsidiary Cadeka Microcircuits, LLC, a Colorado limited liability company (“Cadeka”). With locations in Loveland, Colorado, Shenzhen and Wuxi, China, Cadeka designs, develops and markets high precision analog integrated circuits for use in industrial and high reliability applications. Cadeka’s results of operations and estimated fair value of assets acquired and liabilities assumed were included in our consolidated financial statements beginning July 5, 2013. The pro forma effects of the portion of the Cadeka operations assumed through the transaction on our results of operations during fiscal years 2014 and 2013 were considered immaterial. | |||||
Consideration | |||||
The purchase consideration includes approximately 454,000 shares of our common stock issued to the shareholders of Cadeka (valued at $5.2 million) and a cash payment of $25.0 million (less an amount of $1.0 million, inclusive of 15,000 shares, held back temporarily to satisfy potential indemnity claims). An additional purchase price consideration earn-out (up to $5.0 million) may be earned over the next two fiscal years contingent upon achieving certain revenue targets, and may be paid in the form of cash, stock or both. The $5.2 million worth of shares issued at closing were valued on the date of the acquisition, and the fair value of contingent earn-outs was derived using a probability-based approach on various revenue assumptions and discounted to a present value. Final determination of the earn-out liability can range from zero to $5.0 million based on the actual achievement of the revenue targets. Fair value of contingent consideration is subject to periodic revaluation and any change in the fair value of contingent consideration from the events after the acquisition date will be recognized in earnings of the period in which the fair value changes. The probability–based approach used to fair value contingent consideration is based on significant inputs not observed in the market and thus represents a Level 3 measurement. The significant unobservable inputs include projected revenues, percentage probability of occurrence and a discount rate to present value the future payments. The summary of the purchase consideration is as follows (in thousands): | |||||
Amount | |||||
Cash | $ | 25,000 | |||
Equity instruments | 5,177 | ||||
Estimated fair value of earn-out payments | 4,660 | ||||
Total consideration paid | $ | 34,837 | |||
In accordance with ASC 805, Business Combinations, the acquisition of Cadeka was recorded as a purchase business acquisition since Cadeka was considered a business. Under the purchase method of accounting, the fair value of the consideration was allocated to net assets acquired at their fair values. The fair value of purchased identifiable intangible assets and contingent earn-outs were derived from model-based valuations from significant unobservable inputs (“Level 3 inputs”) determined by management. The fair value of purchased identifiable intangible assets was determined using discounted cash flow models from operating projections prepared by management using an internal rate of return ranging from 15% to 23%. The fair value of the contingent earn-out was a probability-based approach that includes significant Level 3 inputs. “See Note 4 — Fair Value,” for additional details of the inputs used to determine the fair value of the contingent earn-out. The excess of the preliminary fair value of consideration paid over the preliminary fair values of net assets acquired and identifiable intangible assets resulted in recognition of goodwill of approximately $12.4 million prior to considering the impact on deferred tax assets and liabilities. The goodwill results largely of expected synergies from combining the operations of Cadeka with that of Exar and is not expected to be tax deductible. After considering the impact of deductible and taxable temporary tax differences on the acquired business, a deferred tax liability of $6.8 million was established primarily related to identified intangible asset basis differences, which resulted in a total goodwill amount recorded as part of the acquisition of $19.2 million. Additionally, in accordance with ASC 805, Business Combinations, we also evaluated the impact of the acquisition on Exar’s valuation allowance, the impact of which is recorded outside of purchase accounting, resulting in a release of the valuation allowance and an income tax benefit of $6.8 million. Such benefit was trued up by approximately $170,000 in the fourth quarter of fiscal year 2014 as a result of the filing of Cadeka’s pre-acquisition period federal and state returns. | |||||
Purchase Price Allocation | |||||
The allocation of the total purchase price to Cadeka’s tangible and identifiable intangible assets and liabilities assumed was based on their estimated fair values at the date of acquisition. | |||||
The fair value allocated to each of the major classes of tangible and identifiable intangible assets acquired and liabilities assumed in the Cadeka acquisition was as follows (in thousands): | |||||
Amount | |||||
Identifiable tangible assets (liabilities) | |||||
Cash | $ | 1,055 | |||
Accounts Receivable | 241 | ||||
Inventories | 1,756 | ||||
Property, plant and equipment | 231 | ||||
Other assets | 3 | ||||
Accounts payable and accruals | (7,400 | ) | |||
Other short-term liabilities | (520 | ) | |||
Long-term liabilities | (296 | ) | |||
Total identifiable tangible assets (liabilities), net | (4,930 | ) | |||
Identifiable intangible assets | 20,380 | ||||
Total identifiable assets, net | 15,450 | ||||
Goodwill | 19,387 | ||||
Fair value of total consideration transferred | $ | 34,837 | |||
The following table sets forth the components of identifiable intangible assets acquired in connection with the Cadeka acquisition (in thousands): | |||||
Fair Value | |||||
Developed technologies | $ | 15,720 | |||
In-process research and development | 2,280 | ||||
Customer relations | 2,170 | ||||
Trade name | 210 | ||||
Total identifiable intangible assets | $ | 20,380 | |||
Acquisition Related Costs | |||||
Acquisition related costs, or deal costs, relating to Cadeka are included in the selling, general and administrative line on the consolidated statement of operations for the fiscal year ended March 30, 2014 were approximately $0.4 million. | |||||
Acquisition of Altior | |||||
On March 22, 2013, we completed the acquisition of substantially all of the assets of Altior Inc. (“Altior”), a developer of data management solutions in Eatontown, New Jersey. Altior’s results of operations and estimated fair value of assets acquired and liabilities assumed were included in our consolidated financial statements beginning March 23, 2013. The pro forma effects of the portion of the Altior operations assumed through the transaction on our results of operations during fiscal years 2013 were considered immaterial. | |||||
Consideration | |||||
The purchase consideration included approximately 358,000 of our shares issued to the shareholders of Altior, a cash payment of $1.0 million (of which $0.25 million was held back temporarily to satisfy potential indemnity claims), and additional purchase price consideration earn-outs which may be paid in the form of cash, shares or a combination thereof (not to exceed $20.0 million in aggregate) payable over the next three fiscal years contingent upon achieving certain revenue targets. The $3.7 million worth of shares issued as consideration were valued on the date of the acquisition, and the fair value of contingent earn-outs was derived using a probability-based approach on various revenue assumptions. Final determination of the earn-out liability can range from zero to $20.0 million based on the actual achievement of the revenue targets. Fair value of contingent consideration is subject to periodic revaluation and any change in the fair value of contingent consideration from the events after the acquisition date, will be recognized in earnings of the period in which the fair value changes. The probability–based approach used to fair value contingent consideration is based on significant inputs not observed in the market and thus represents a Level 3 measurement. The significant unobservable inputs include projected revenues, percentage probability of occurrence and a discount rate to present value the future payments. | |||||
The summary of the purchase consideration is as follows (in thousands): | |||||
Amount | |||||
Cash | $ | 1,000 | |||
Equity instruments | 3,740 | ||||
Estimated fair value of earn-out payments | 10,138 | ||||
Total consideration paid | $ | 14,878 | |||
In accordance with ASC 805, Business Combinations, the acquisition of Altior was recorded as a purchase business acquisition since Altior was considered a business. Under the purchase method of accounting, the fair value of the consideration was allocated to assets and liabilities assumed at their fair values. The fair value of purchased identifiable intangible assets and contingent earn-outs were derived from model-based valuations from significant Level 3 inputs determined by management. The fair value of purchased identifiable intangible assets was determined using discounted cash flow models from operating projections prepared by management using an internal rate of return ranging from 12% to 19%. The fair value of the contingent earn-outs was a probability-based approach that includes significant Level 3 inputs. “See Note 4 — Fair Value,” for additional details of the inputs used to determine the fair value of the contingent earn-out. The excess of the fair value of consideration paid over the fair values of net assets and liabilities acquired and identifiable intangible assets resulted in recognition of goodwill of approximately $7.2 million. The goodwill consists largely of expected synergies from combining the operations of Altior with that of Exar and is deductible over 15 years for tax purposes.“ | |||||
Purchase Price Allocation | |||||
The allocation of the purchase price to Altior’s tangible and identifiable intangible assets and liabilities assumed was based on their estimated fair values at the date of acquisition. | |||||
The fair value allocated to each of the major classes of tangible and identifiable intangible assets acquired and liabilities assumed in the Altior acquisition was as follows (in thousands): | |||||
Amount | |||||
Identifiable tangible assets | |||||
Inventories | $ | 126 | |||
Property, plant and equipment | 140 | ||||
Other assets | 36 | ||||
Accounts payable and accruals | (24 | ) | |||
Other short-term liabilities | (51 | ) | |||
Long-term liabilities | (61 | ) | |||
Total identifiable tangible assets, net | 166 | ||||
Identifiable intangible assets – existing technology | 7,540 | ||||
Total identifiable assets, net | 7,706 | ||||
Goodwill | 7,172 | ||||
Fair value of total consideration transferred | $ | 14,878 | |||
Acquisition Related Costs | |||||
Acquisition related costs, or deal costs, relating to Altior are included in the selling, general and administrative line on the consolidated statement of operations for fiscal year 2013, which were immaterial. | |||||
Acquisition of Galazar | |||||
On June 17, 2009, we completed the acquisition of Galazar Networks, Inc. (“Galazar”), a fabless semiconductor company focused on carrier grade transport over telecom networks based in Ottawa, Ontario, Canada. Galazar’s product portfolio addressed transport of a wide range of datacom and telecom services including Ethernet, SAN, TDM and video over Synchronous Optical NETwork and Synchronous Digital Hierarchy (“SONET/SDH”), Plesiochronous Digital Hierarchy (“PDH”) and Optical Transport Network (“OTN”) networks. Galazar’s results of operations and estimated fair value of assets acquired and liabilities assumed were included in our consolidated financial statements beginning June 18, 2009. On February 1, 2012, we terminated our development efforts in connection with our pre-production OTN products. Therefore, the results of operations of Galazar were included in our consolidated financial statements from June 18, 2009 through February 1, 2012. | |||||
See “Note 22 — Subsequent Event” for additional information regarding our acquisitions. |
Note_5_Balance_Sheet_Details
Note 5 - Balance Sheet Details | 12 Months Ended | ||||||||
Mar. 30, 2014 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Supplemental Balance Sheet Disclosures [Text Block] | ' | ||||||||
NOTE 5. BALANCE SHEET DETAILS | |||||||||
Our property, plant and equipment consisted of the following as of the dates indicated below (in thousands): | |||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Land | $ | 6,660 | $ | 6,660 | |||||
Building | 16,787 | 16,224 | |||||||
Machinery and equipment | 40,675 | 42,258 | |||||||
Software and licenses | 17,549 | 17,566 | |||||||
Property, plant and equipment, total | 81,671 | 82,708 | |||||||
Accumulated depreciation and amortization | (60,391 | ) | (58,608 | ) | |||||
Total property, plant and equipment, net | $ | 21,280 | $ | 24,100 | |||||
During fiscal year 2014, we wrote off $4.1 million of fully depreciated assets. | |||||||||
Depreciation and amortization expense pertaining to property, plant and equipment for fiscal years 2014, 2013 and 2012 was $5.6 million, $6.8 million and $8.1 million, respectively. | |||||||||
During fiscal year 2013, we started actively looking for potential buyers for our Fremont campus. In the first quarter of our fiscal year 2014, we reclassified the related property and land as held for sale as of June 30, 2013, however due to our intent to lease back of one of the buildings, we should not have classified these asset as held for sale which resulted in the overstatement of current assets and understatement of long-lived assets by $13.1 million as of June 30, 2013, September 30, 2013 and December 31, 2013, respectively. The impact to our consolidated statement of operations was immaterial. We assessed the materiality of the misclassifications on prior periods' financial statements and concluded that impact was not material to any of our prior period interim financial statements. | |||||||||
Our inventories consisted of the following (in thousands) as of the dates indicated below: | |||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Work-in-progress and raw materials | $ | 13,555 | $ | 9,981 | |||||
Finished goods | 15,427 | 9,449 | |||||||
Total inventories | $ | 28,982 | $ | 19,430 | |||||
Our other current liabilities consisted of the following (in thousands) as of the dates indicated below: | |||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Short-term lease financing obligations | $ | 2,671 | $ | 3,189 | |||||
Accrued restructuring charges and exit costs | 2,214 | 2,020 | |||||||
Accrued manufacturing expenses, royalties and licenses | 1,639 | 2,370 | |||||||
Accrued legal and professional services | 1,453 | 746 | |||||||
Purchase consideration holdback | 1,256 | — | |||||||
Accrued sales and marketing expenses | 666 | 576 | |||||||
Fair value of earn out liability – short-term | 490 | 2,599 | |||||||
Accrual for dispute resolution | — | 2,727 | |||||||
Other | 981 | 988 | |||||||
Total other current liabilities | $ | 11,370 | $ | 15,215 | |||||
Our other non - current obligations consisted of the following (in thousands) as of the dates indicated: | |||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Fair value of earn out liability – long-term | $ | 3,853 | $ | 7,539 | |||||
Accrued retention bonus | 1,181 | — | |||||||
Long-term taxes payable | 794 | 2,225 | |||||||
Deferred tax liability | 614 | 145 | |||||||
Accrued restructuring charges and exit costs | 155 | 1,266 | |||||||
Other | 29 | 29 | |||||||
Total other non-current obligations | $ | 6,626 | $ | 11,204 | |||||
Note_6_Fair_Value
Note 6 - Fair Value | 12 Months Ended | ||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||||||
NOTE 6. FAIR VALUE | |||||||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||||||
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. GAAP describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value as follows: | |||||||||||||||||||||||||
Level 1—Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||||||||||
Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||||||||||
Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||||||||||
Our cash and investment instruments are classified within Level 1 or Level 2 of the fair value hierarchy because they are valued using quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. | |||||||||||||||||||||||||
The fair value of contingent consideration arising from the acquisition of Altior and Cadeka (See “Note 4—Business Combinations”) is classified within Level 3 of the fair value hierarchy since it is based on a probability-based approach that includes significant unobservable inputs. | |||||||||||||||||||||||||
There were no transfers between Level 1, Level 2, and Level 3 during the year ended March 30, 2014. | |||||||||||||||||||||||||
Our investment assets, measured at fair value on a recurring basis, as of the dates indicated below were as follows (in thousands, except for percentages): | |||||||||||||||||||||||||
30-Mar-14 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Money market funds | $ | 4,636 | $ | — | $ | — | $ | 4,636 | |||||||||||||||||
U.S. government and agency securities | 9,378 | 13,134 | — | 22,512 | |||||||||||||||||||||
State and local government securities | — | 2,772 | — | 2,772 | |||||||||||||||||||||
Corporate bonds and securities | 5 | 71,248 | — | 71,253 | |||||||||||||||||||||
Asset-backed securities | — | 27,635 | — | 27,635 | |||||||||||||||||||||
Mortgage-backed securities | — | 28,248 | — | 28,248 | |||||||||||||||||||||
Total investment assets | $ | 14,019 | $ | 143,037 | $ | — | $ | 157,056 | |||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Acquisition-related contingent consideration – Altior | $ | — | $ | — | $ | 2,973 | $ | 2,973 | |||||||||||||||||
Acquisition-related contingent consideration – Cadeka | $ | — | $ | — | $ | 1,370 | $ | 1,370 | |||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 4,343 | $ | 4,343 | |||||||||||||||||
31-Mar-13 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Money market funds | $ | 5,042 | $ | — | $ | — | $ | 5,042 | |||||||||||||||||
U.S. government and agency securities | 22,460 | 19,261 | — | 41,721 | |||||||||||||||||||||
State and local government securities | — | 2,935 | — | 2,935 | |||||||||||||||||||||
Corporate bonds and securities | 274 | 91,955 | — | 92,229 | |||||||||||||||||||||
Asset-backed securities | — | 30,966 | — | 30,966 | |||||||||||||||||||||
Mortgage-backed securities | — | 22,736 | — | 22,736 | |||||||||||||||||||||
Total investment assets | $ | 27,776 | $ | 167,853 | $ | — | $ | 195,629 | |||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Acquisition-related contingent consideration – Altior | $ | — | $ | — | $ | 10,138 | $ | 10,138 | |||||||||||||||||
The fair value of contingent consideration was determined based on a probability-based approach which includes projected revenues, percentage probability of occurrence and discount rate to present value payments. A significant increase (decrease) in the projected revenue, discount rate or probability of occurrence in isolation could result in a significantly higher (lower) fair value measurement. | |||||||||||||||||||||||||
The following table presents quantitative information about the inputs and valuation methodologies used for our fair value measurements classified in Level 3 of the fair value hierarchy as of March 30, 2014. | |||||||||||||||||||||||||
Fair Value | Valuation Technique | Significant | Range | ||||||||||||||||||||||
(in thousands) | Unobservable Input | ||||||||||||||||||||||||
As of March 30, 2014 | |||||||||||||||||||||||||
Acquisition-related contingent consideration – Altior | $ | 2,973 | Combination of income and market approach | Revenue (in “000’s) | $6,725 | - | $20,175 | ||||||||||||||||||
Probability of Achievement | 1% | - | 66% | ||||||||||||||||||||||
Acquisition-related contingent consideration – Cadeka | $ | 1,370 | Combination of income and market approach | Revenue (in “000’s) | $4,800 | - | $18,000 | ||||||||||||||||||
Probability of Achievement | 2% | - | 50% | ||||||||||||||||||||||
We calculate the fair value of the contingent consideration on a quarterly basis based on additional information as it becomes available. Any change in the fair value adjustment is recorded in the earnings of that period. | |||||||||||||||||||||||||
The change in the fair value of our Altior purchase consideration liability is as follows (in thousands): | |||||||||||||||||||||||||
Amount | |||||||||||||||||||||||||
As of original recognition in year ended and as of March 31, 2013 | $ | 10,138 | |||||||||||||||||||||||
Less: Adjustment to purchase consideration | (7,165 | ) | |||||||||||||||||||||||
As of March 30, 2014 | $ | 2,973 | |||||||||||||||||||||||
The change in the fair value of our Cadeka purchase consideration liability is as follows (in thousands): | |||||||||||||||||||||||||
Amount | |||||||||||||||||||||||||
As of March 31, 2013 | $ | — | |||||||||||||||||||||||
Purchase contingent consideration | 4,660 | ||||||||||||||||||||||||
Less: Adjustment to purchase consideration | (3,290 | ) | |||||||||||||||||||||||
As of March 30, 2014 | $ | 1,370 | |||||||||||||||||||||||
In fiscal year 2014 the fair value of the contingent considerations for Altior and Cadeka acquisitions were decreased by $7.2 million and $3.3 million, respectively, due to changes in probability of achieving revenue targets and impact of change in present value of the amount payable due to passage of time. | |||||||||||||||||||||||||
Our cash, cash equivalents and short-term marketable securities as of the dates indicated below were as follows (in thousands): | |||||||||||||||||||||||||
March 30, | March 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||
Cash in financial institutions | $ | 9,978 | $ | 9,676 | |||||||||||||||||||||
Money market funds | 4,636 | 5,042 | |||||||||||||||||||||||
Total cash and cash equivalents | $ | 14,614 | $ | 14,718 | |||||||||||||||||||||
Short-term marketable securities | |||||||||||||||||||||||||
U.S. government and agency securities | $ | 22,512 | $ | 41,721 | |||||||||||||||||||||
State and local government securities | 2,772 | 2,935 | |||||||||||||||||||||||
Corporate bonds and securities | 71,253 | 92,229 | |||||||||||||||||||||||
Asset-backed securities | 27,635 | 30,966 | |||||||||||||||||||||||
Mortgage-backed securities | 28,248 | 22,736 | |||||||||||||||||||||||
Total short-term marketable securities | $ | 152,420 | $ | 190,587 | |||||||||||||||||||||
Our marketable securities include U.S. government and agency securities, state and local government securities, corporate bonds and securities, and asset-backed and mortgage-backed securities. We classify investments as available-for-sale at the time of purchase and re-evaluate such designation as of each balance sheet date. We amortize premiums and accrete discounts to interest income over the life of the investment. Our available-for-sale securities, which we intend to sell as necessary to meet our liquidity requirements, are classified as cash equivalents if the maturity date is 90 days or less from the date of purchase and as short-term marketable securities if the maturity date is greater than 90 days from the date of purchase. | |||||||||||||||||||||||||
All marketable securities are reported at fair value based on the estimated or quoted market prices as of each balance sheet date, with unrealized gains or losses, net of tax effect, recorded in the consolidated statements of other comprehensive income except those unrealized losses that are deemed to be other than temporary which are reflected in the impairment of long term investment line item on the consolidated statements of operations. | |||||||||||||||||||||||||
Realized gains (losses) on the sale of marketable securities are determined by the specific identification method and are reflected in the interest income and other, net line item on the consolidated statements of operations. | |||||||||||||||||||||||||
Our net realized gains (losses) on marketable securities for the periods indicated below were as follows (in thousands): | |||||||||||||||||||||||||
Fiscal Years Ended | |||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Gross realized gains | $ | 748 | $ | 871 | $ | 799 | |||||||||||||||||||
Gross realized losses | (547 | ) | (953 | ) | (1,098 | ) | |||||||||||||||||||
Net realized gains (losses) | $ | 201 | $ | (82 | ) | $ | (299 | ) | |||||||||||||||||
The following table summarizes our investments in marketable securities as of the dates indicated below (in thousands): | |||||||||||||||||||||||||
30-Mar-14 | |||||||||||||||||||||||||
Amortized | Unrealized Gross | Unrealized Gross | Fair Value | ||||||||||||||||||||||
Cost | Gains(1) | Losses(1) | |||||||||||||||||||||||
Money market funds | $ | 4,636 | $ | — | $ | — | $ | 4,636 | |||||||||||||||||
U.S. government and agency securities | 22,550 | 1 | (39 | ) | 22,512 | ||||||||||||||||||||
State and local government securities | 2,762 | 10 | — | 2,772 | |||||||||||||||||||||
Corporate bonds and securities | 71,309 | 32 | (88 | ) | 71,253 | ||||||||||||||||||||
Asset-backed securities | 27,661 | 22 | (48 | ) | 27,635 | ||||||||||||||||||||
Mortgage-backed securities | 28,362 | 24 | (138 | ) | 28,248 | ||||||||||||||||||||
Total investments | $ | 157,280 | $ | 89 | $ | (313 | ) | $ | 157,056 | ||||||||||||||||
31-Mar-13 | |||||||||||||||||||||||||
Amortized | Unrealized Gross | Unrealized Gross | Fair Value | ||||||||||||||||||||||
Cost | Gains(1) | Losses(1) | |||||||||||||||||||||||
Money market funds | $ | 5,042 | $ | — | $ | — | $ | 5,042 | |||||||||||||||||
U.S. government and agency securities | 41,694 | 27 | — | 41,721 | |||||||||||||||||||||
State and local government securities | 2,927 | 10 | (2 | ) | 2,935 | ||||||||||||||||||||
Corporate bonds and securities | 92,059 | 215 | (45 | ) | 92,229 | ||||||||||||||||||||
Asset-backed securities | 30,932 | 61 | (27 | ) | 30,966 | ||||||||||||||||||||
Mortgage-backed securities | 22,646 | 194 | (104 | ) | 22,736 | ||||||||||||||||||||
Total investments | $ | 195,300 | $ | 507 | $ | (178 | ) | $ | 195,629 | ||||||||||||||||
-1 | Gross of tax impact of $828 for fiscal years 2014 and 2013 | ||||||||||||||||||||||||
Our asset-backed securities are comprised primarily of premium tranches of vehicle loans and credit card receivables, while our mortgage-backed securities are primarily from Federal agencies. We do not own auction rate securities nor do we own securities that are classified as subprime. As of March 30, 2014, we have sufficient liquidity and do not intend to sell these securities to fund normal operations or realize any significant losses in the short term; however, these securities are available for use, if needed, for current operations. | |||||||||||||||||||||||||
Management determines the appropriate classification of cash equivalents or short-term marketable securities at the time of purchase and reevaluates such classification as of each balance sheet date. The investments are adjusted for amortization of premiums and accretion of discounts to maturity and such accretion/amortization, which is immaterial for all periods presented, is included in the interest income and other, net line in the consolidated statements of operations. Cash equivalents and short-term marketable securities are reported at fair value with the related unrealized gains and losses included in the accumulated other comprehensive losses line in the consolidated balance sheets. As of March 30, 2014, there was approximately $1.1 million of unrealized losses, net of tax from our Level 1 and Level 2 investments. | |||||||||||||||||||||||||
We periodically review our investments in unrealized loss positions for other-than-temporary impairments. This evaluation includes, but is not limited to, significant quantitative and qualitative assessments and estimates regarding credit ratings, collateralized support, the length of time and significance of a security’s loss position, our intent not to sell the security, and whether it is more likely than not that we will not have to sell the security before recovery of its cost basis. For fiscal year 2014, there were no investments identified with other-than-temporary declines in value. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of cash equivalents and marketable securities classified as available-for-sale by expected maturity as of the dates indicated below were as follows (in thousands): | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||
Amortized | Fair Value | Amortized | Fair Value | ||||||||||||||||||||||
Cost | Cost | ||||||||||||||||||||||||
Less than 1 year | $ | 49,539 | $ | 49,504 | $ | 61,011 | $ | 61,029 | |||||||||||||||||
Due in 1 to 5 years | 107,741 | 107,552 | 134,289 | 134,600 | |||||||||||||||||||||
Total | $ | 157,280 | $ | 157,056 | $ | 195,300 | $ | 195,629 | |||||||||||||||||
The following table summarizes the gross unrealized losses and fair values of our investments in an unrealized loss position as of the dates indicated below, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): | |||||||||||||||||||||||||
30-Mar-14 | |||||||||||||||||||||||||
Less than 12 months | 12 months or greater | Total | |||||||||||||||||||||||
Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | ||||||||||||||||||||
U.S. government and agency securities | $ | 18,245 | $ | (39 | ) | $ | — | $ | — | $ | 18,245 | $ | (39 | ) | |||||||||||
Corporate bonds and securities | 48,379 | (87 | ) | 596 | (1 | ) | 48,975 | (88 | ) | ||||||||||||||||
Asset-backed securities | 7,118 | (12 | ) | 5,478 | (36 | ) | 12,596 | (48 | ) | ||||||||||||||||
Mortgage-backed securities | 19,682 | (120 | ) | 983 | (18 | ) | 20,665 | (138 | ) | ||||||||||||||||
Total | $ | 93,424 | $ | (258 | ) | $ | 7,057 | $ | (55 | ) | $ | 100,481 | $ | (313 | ) | ||||||||||
31-Mar-13 | |||||||||||||||||||||||||
Less than 12 months | 12 months or greater | Total | |||||||||||||||||||||||
Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | ||||||||||||||||||||
State and local government securities | $ | — | $ | — | $ | 404 | $ | (2 | ) | $ | 404 | $ | (2 | ) | |||||||||||
Corporate bonds and securities | 29,609 | (42 | ) | 497 | (3 | ) | 30,106 | (45 | ) | ||||||||||||||||
Asset-backed securities | 10,008 | (17 | ) | 1,241 | (10 | ) | 11,249 | (27 | ) | ||||||||||||||||
Mortgage-backed securities | 2,911 | (39 | ) | 3,263 | (65 | ) | 6,174 | (104 | ) | ||||||||||||||||
Total | $ | 42,528 | $ | (98 | ) | $ | 5,405 | $ | (80 | ) | $ | 47,933 | $ | (178 | ) | ||||||||||
Note_7_Related_Party_Transacti
Note 7 - Related Party Transaction | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Related Party Transactions [Abstract] | ' | ||||||||||||
Related Party Transactions Disclosure [Text Block] | ' | ||||||||||||
NOTE 7. RELATED PARTY TRANSACTION | |||||||||||||
Alonim Investments Inc. (“Alonim”) owns approximately 7.6 million shares, or approximately 16%, of our outstanding common stock as of March 30, 2014. As such, Alonim is our largest stockholder and any sales made to Alonim or its affiliates are considered related party transactions and revenue is recognized in accordance to our revenue recognition policy disclosed in “Note 3 – Accounting Policies.” | |||||||||||||
Related party contributions as a percentage of our total net sales for the periods indicated below were as follows: | |||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Alonim | 29 | % | 30 | % | 31 | % | |||||||
Related party receivables as a percentage of our net accounts receivable were as follows as of the dates indicated below: | |||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Alonim | 18 | % | 21 | % | |||||||||
Related party expenses for reimbursement of promotional materials were not significant for fiscal years 2014, 2013 and 2012. |
Note_8_Restructuring_Charges_a
Note 8 - Restructuring Charges and Exit Costs | 12 Months Ended | ||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||||||||||||||||||
NOTE 8. RESTRUCTURING CHARGES AND EXIT COSTS | |||||||||||||||||||||
2014 Restructuring Charges and Exit Costs | |||||||||||||||||||||
Restructuring expenses result from the execution of management approved restructuring plans that were generally developed to improve our cost structure and/or operations, often in conjunction with our acquisition integration strategies. Restructuring expenses consist of employee severance costs and may also include contract termination costs to improve our cost structure prospectively. In fiscal year 2014, we recorded $3.0 million of restructuring charges and exit costs. Of the total restructuring charges and exit costs recorded in fiscal year 2014, $0.2 million was reflected in cost of sales and $2.8 million was reflected in operating expenses within our consolidated statements of operations. | |||||||||||||||||||||
2013 Restructuring Charges and Exit Costs | |||||||||||||||||||||
In the fourth quarter of fiscal year 2013, we recorded $0.3 million of restructuring charges and exit costs and released a $0.5 million liability related to the Industrial Research Assistance Program (“IRAP”) with Canadian governmental agency. In the third, second and first quarters of fiscal year 2013, we recorded restructuring charges and exit costs of $0.6 million, $0.3 million and $0.9 million, respectively. Of the total restructuring charges and exit costs recorded in fiscal year 2013, $0.3 million was reflected in cost of sales and $1.3 million was reflected in operating expenses within our consolidated statements of operations. | |||||||||||||||||||||
2012 Restructuring Charges and Exit Costs | |||||||||||||||||||||
In fiscal year 2012, we incurred restructuring charges and exit costs totaling $14.2 million, of which $13.9 million was recorded in the fourth quarter and $0.3 million was recorded in the first quarter. Of the total restructuring charges and exit costs, $1.3 million was reflected in cost of sales and $12.9 million was reflected in operating expenses within our consolidated statements of operations. | |||||||||||||||||||||
During the fourth quarter of fiscal year 2012, we implemented and completed reductions in force of approximately 173 positions across of all company functions. This action was intended to align our cost structure with revenues, reduce spending in operations and to cease development of certain products. The reduction in headcount was primarily associated with offices located in Fremont, California; Hangzhou, China; Ottawa, Ontario, Canada; Minneapolis, Minnesota; Raleigh, North Carolina; and San Diego, California. As part of the reduction activity, we terminated our development efforts in connection with our pre-production OTN and de-duplication products. The market for our OTN product was modest and the outlook to achieve meaningful revenue and a return on this investment was considered unlikely. As a result of the reduction activity in the fourth quarter of fiscal year 2012, we recorded a total charge for restructuring and exit costs of $13.9 million, which included a one-time severance charge of $4.2 million, lease contract termination costs and other costs of $7.0 million, lease abandonment charges of $0.8 million and accelerated amortization and depreciation charges of $1.9 million. We paid $1.4 million of the $4.2 million one-time severance charges in fiscal year 2012. | |||||||||||||||||||||
The lease contract termination costs and other costs of $7.0 million include: (1) costs associated with the termination of certain electronic design automated license agreements consisting of the accrual of future payments of $3.9 million, and the write off of prepaid training, maintenance and license fees of $2.6 million; and (2) costs associated with a Canadian governmental agency related to IRAP tied to continued employment obligations of $0.5 million, which was waived as of March 31, 2013. | |||||||||||||||||||||
The lease abandonment charges of $0.8 million include future lease obligations, net of estimated rental income for vacated facilities in Ottawa, Canada, San Diego, California, Minneapolis, Minnesota and Raleigh, North Carolina, for leases that expire at various dates from June 2012 to January 2015. | |||||||||||||||||||||
The accelerated amortization and depreciation charges of $1.9 million include $1.7 million related to termination of OTN and de-duplication products (See “Note 10 – Goodwill and Intangible Assets”) and $0.2 million related to certain property and equipment. | |||||||||||||||||||||
During the first quarter of fiscal year 2012, we incurred restructuring charges and exit costs of $0.3 million, which included a one-time severance charge of $0.1 million, lease contract termination costs of $0.1 million, and inventory write-off costs of $0.1 million. | |||||||||||||||||||||
Our restructuring liabilities were included in the accounts payable, other current liabilities and other non-current obligations lines within our consolidated balance sheets. The following table summarizes the activities affecting the liabilities as of the dates indicated below (in thousands): | |||||||||||||||||||||
30-Mar-14 | |||||||||||||||||||||
Beginning | Additions/ | Non-cash charges | Payments | Ending balance | |||||||||||||||||
balance | adjustments | ||||||||||||||||||||
Lease termination and other costs | $ | 2,860 | $ | 570 | $ | (57 | ) | $ | (1,758 | ) | $ | 1,615 | |||||||||
Severance | 426 | 2,444 | — | (2,116 | ) | 754 | |||||||||||||||
Balance at March 30, 2014 | $ | 3,286 | $ | 3,014 | $ | (57 | ) | $ | (3,874 | ) | $ | 2,369 | |||||||||
31-Mar-13 | |||||||||||||||||||||
Beginning | Additions/ | Non-cash charges | Payments | Ending balance | |||||||||||||||||
balance | adjustments | ||||||||||||||||||||
Lease termination costs and others | $ | 5,235 | $ | 6 | $ | (56 | ) | $ | (2,325 | ) | $ | 2,860 | |||||||||
Severance | 2,806 | 1,548 | — | (3,928 | ) | 426 | |||||||||||||||
Balance at March 31, 2013 | $ | 8,041 | $ | 1,554 | $ | (56 | ) | $ | (6,253 | ) | $ | 3,286 | |||||||||
See “Note 5—Balance Sheet Details” for current and long-term portion of restructuring charges and exit costs recorded in the consolidated balance sheets as of March 30, 2014 and March 31, 2013. |
Note_9_LongTerm_Investment
Note 9 - Long-Term Investment | 12 Months Ended | ||||||||
Mar. 30, 2014 | |||||||||
Investments Schedule [Abstract] | ' | ||||||||
Investment [Text Block] | ' | ||||||||
NOTE 9. LONG-TERM INVESTMENT | |||||||||
In July 2001, Exar became a Limited Partner in the Skypoint Telecom Fund II (US), LP. (“Skypoint Fund”), a venture capital fund focused on investments in communications infrastructure companies. We account for this non-marketable equity investment under the cost method in the other non-current assets in the consolidated balance sheet. The partnership was in the dissolution phase and the fund distributed stock of investee companies to Exar during first fiscal quarter of 2015. We periodically review and determine whether the investment is other-than-temporarily impaired, in which case the investment is written down to its impaired value. | |||||||||
As of the dates indicated below, our long-term investment balance, which is included in the “Other non-current assets” line item on the consolidated balance sheets, consisted of the following (in thousands): | |||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Beginning balance | $ | 1,288 | $ | 1,273 | |||||
Contributions | — | 15 | |||||||
Net distributions | (19 | ) | — | ||||||
Impairment charges | (323 | ) | — | ||||||
Ending balance | $ | 946 | $ | 1,288 | |||||
The carrying amount of $0.9 million as of March 30, 2014 reflects the net of the capital contributions, capital distributions and cumulative impairment charges. We have made $4.8 million in capital contributions to Skypoint Fund since we became a limited partner in July 2001. During the first quarter of fiscal year 2013, we contributed $15,000 to the fund. In the third quarter of fiscal year 2014, we received a $19,000 net distribution from one of our portfolio companies. In accordance with the standard related to accounting for cost method investments, we recorded the distribution on the cost basis and reduced the carrying value of our investment in the Skypoint Fund. | |||||||||
Impairment | |||||||||
We evaluate our long-term investment for impairment on an annual basis or whenever events and changes in circumstances suggest that the carrying amount may not be recoverable. We conduct our annual impairment analysis in the fourth quarter of each fiscal year by comparing the carrying amount to the fair value of the underlying investments. If the carrying amount exceeds its fair value, the long term-investment is considered impaired and a second step is performed to measure the amount of impairment loss. We analyzed the fair value of the underlying investments of Skypoint Fund and as a result, $0.3 million, $0 and $0 of impairment charges were recorded for fiscal year 2014, 2013 and 2012, respectively. |
Note_10_Goodwill_and_Intangibl
Note 10 - Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||
NOTE 10. GOODWILL AND INTANGIBLE ASSETS | |||||||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||||||
Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. We evaluate goodwill for impairment on an annual basis or whenever events and changes in circumstances suggest that the carrying amount may not be recoverable. We conduct our annual impairment analysis in the fourth quarter of each fiscal year. Impairment of goodwill is tested at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. Estimations and assumptions regarding the number of reporting units, future performances, results of our operations and comparability of our market capitalization and net book value will be used. If the carrying amount of the reporting unit exceeds its fair value, goodwill is considered impaired and a second step is performed to measure the amount of impairment loss. Because we have one single operating segment and one chief operating decision maker, the President and Chief Executive Officer (“CEO”), with highly integrated business, we utilize an entity-wide approach to assess goodwill for impairment. | |||||||||||||||||||||||||||||
In the fourth quarter of fiscal year 2014, we conducted our annual impairment review comparing the fair value of our single reporting unit with its carrying value. As of the test date and as of fiscal year-end, and before consideration of a control premium, the fair value, which was estimated as our market capitalization, exceeded the carrying value of our net assets. As a result, no goodwill impairment was recorded for fiscal year 2014. However, we recorded an impairment charge for certain purchased technologies due to a decrease in valuation based on decline in our business forecasts related to these technologies. | |||||||||||||||||||||||||||||
In the fourth quarter of fiscal years 2013 and 2012, we conducted our annual impairment. As of the test date and as of year-end, and before consideration of a control premium, the fair value, which was estimated as our market capitalization, exceeded the carrying value of our net assets. As a result, no impairment was recorded for fiscal years 2013 or 2012. | |||||||||||||||||||||||||||||
The changes in the carrying amount of goodwill for fiscal years 2014 and 2013 were as follows (in thousands): | |||||||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||||||
Beginning balance | $ | 10,356 | $ | 3,184 | |||||||||||||||||||||||||
Goodwill additions | 20,054 | 7,172 | |||||||||||||||||||||||||||
Ending balance | $ | 30,410 | $ | 10,356 | |||||||||||||||||||||||||
The goodwill additions during fiscal year 2014 consist of $19.4 million and $0.7 million residual allocation from the Cadeka and Stretch acquisition purchase price accounting, respectively. Goodwill additions during the fiscal year ended March 31, 2013 consisted of $7.2 million residual allocation from the Altior acquisition purchase price accounting. | |||||||||||||||||||||||||||||
Intangible Assets | |||||||||||||||||||||||||||||
Our purchased intangible assets as of the dates indicated below were as follows (in thousands): | |||||||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||||||
Carrying | Impair- | Accumulated | Net Carrying | Carrying | Accumulated | Net Carrying | |||||||||||||||||||||||
Amount | ment | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||||||
Amortized intangible assets: | |||||||||||||||||||||||||||||
Existing technology | $ | 64,678 | $ | (1,635 | ) | $ | (37,510 | ) | $ | 25,533 | $ | 42,858 | $ | (30,668 | ) | $ | 12,190 | ||||||||||||
Customer relationships | 6,095 | — | (2,762 | ) | 3,333 | 2,905 | (2,079 | ) | 826 | ||||||||||||||||||||
Patents/Core technology | 3,459 | — | (3,378 | ) | 81 | 3,459 | (3,182 | ) | 277 | ||||||||||||||||||||
Distributor relationships | 1,264 | — | (1,260 | ) | 4 | 1,264 | (1,219 | ) | 45 | ||||||||||||||||||||
Tradenames | 210 | — | (51 | ) | 159 | — | — | — | |||||||||||||||||||||
Total intangible assets subject to amortization | 75,706 | (1,635 | ) | (44,961 | ) | 29,110 | 50,486 | (37,148 | ) | 13,338 | |||||||||||||||||||
In-process research and development | 2,280 | — | — | 2,280 | — | — | — | ||||||||||||||||||||||
Total | $ | 77,986 | $ | (1,635 | ) | $ | (44,961 | ) | $ | 31,390 | $ | 50,486 | $ | (37,148 | ) | $ | 13,338 | ||||||||||||
Long-lived assets are amortized on a straight-line basis over their respective estimated useful lives. Existing technology is amortized over two to nine years. Patents/core technology is amortized over five to six years. Distributor relationships are amortized over six years. Customer relationships are amortized over five to seven years. Tradenames are amortized over three years. We expect the amortization of IPR&D to start in fiscal year 2015. We evaluate the remaining useful life of our long-lived assets that are being amortized each reporting period to determine whether events and circumstances warrant a revision to the remaining period of amortization. If the estimate of an intangible asset’s remaining useful life is changed, the remaining carrying amount of the long-lived asset is amortized prospectively over the remaining useful life. | |||||||||||||||||||||||||||||
Long-lived assets are evaluated for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets (or asset group) may not be fully recoverable. Whenever events or changes in circumstances suggest that the carrying amount of long-lived assets may not be recoverable, we estimate the future cash flows expected to be generated by the assets (or asset group) from its use or eventual disposition. If the sum of the expected future cash flows is less than the carrying amount of those assets, we recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets. Significant management judgment is required in the grouping of long-lived assets and forecasts of future operating results that are used in the discounted cash flow method of valuation. If our actual results, or the plans and estimates used in future impairment analyses are lower than the original estimates used to assess the recoverability of these assets, we could incur additional impairment charges. | |||||||||||||||||||||||||||||
Due to the decline in forecasted revenue related to certain acquired intangible assets, we recorded $1.6 million impairment charges for fiscal year 2014. No impairment charges were recorded for fiscal year 2013 or fiscal year 2012. | |||||||||||||||||||||||||||||
During the second quarter of fiscal year 2013, we sold certain patents for $500,000 and recorded a gain of approximately $223,000. | |||||||||||||||||||||||||||||
During the fourth quarter of fiscal year 2012 we exited the OTN market, and, in connection therewith, stopped development of our OTN products. We also ceased development of our de-duplication products. In both instances, we determined that the current economic and market environment did not provide the potential to deliver acceptable returns on the required investments. As a result, in the fourth quarter of fiscal year 2012, we expensed the costs for the related IPR&D and intangible assets. We recorded total charges of $1.7 million in restructuring charges and exit costs line item in our consolidated statements of operations. | |||||||||||||||||||||||||||||
The intangible asset charges related to the exiting of the OTN and de-duplication products of $1.7 million consists of $0.3 million write-off of the IPR&D acquired from Galazar, $1.1 million of amortization of purchased intangible assets related to the OTN products acquired from Galazar and $0.3 million amortization of the existing technology acquired from Hifn. See “Note 8—Restructuring Charges and Exit Costs.” | |||||||||||||||||||||||||||||
The aggregate amortization expenses for our purchased intangible assets for fiscal years indicated below were as follows (in thousands): | |||||||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Amortization expense | $ | 7,813 | $ | 4,150 | $ | 6,700 | |||||||||||||||||||||||
The total future amortization expenses for our purchased intangible assets are summarized below (in thousands): | |||||||||||||||||||||||||||||
Amortization Expense (by fiscal year) | |||||||||||||||||||||||||||||
2015 | $ | 6,159 | |||||||||||||||||||||||||||
2016 | 5,578 | ||||||||||||||||||||||||||||
2017 | 4,645 | ||||||||||||||||||||||||||||
2018 | 4,432 | ||||||||||||||||||||||||||||
2019 | 3,231 | ||||||||||||||||||||||||||||
2020 and thereafter | 5,065 | ||||||||||||||||||||||||||||
Total future amortization excluding IPR&D | $ | 29,110 | |||||||||||||||||||||||||||
Note_11_Net_Income_Loss_Per_Sh
Note 11 - Net Income (Loss) Per Share | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||
NOTE 11. NET INCOME (LOSS) PER SHARE | |||||||||||||
Basic net income (loss) per share excludes dilution and is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the applicable period. Diluted earnings per share reflects the potential dilution that would occur if outstanding stock options or warrants to purchase common stock were exercised for common stock, using the treasury stock method, and the common stock underlying outstanding restricted stock units (“RSUs”) was issued. | |||||||||||||
The following table summarizes our net income (loss) per share for the periods indicated below (in thousands, except per share amounts): | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Net income (loss) | $ | 5,801 | $ | 2,882 | $ | (28,056 | ) | ||||||
Shares used in computation of net income (loss) per share: | |||||||||||||
Basic | 47,291 | 45,809 | 44,796 | ||||||||||
Effect of options and awards | 1,532 | 667 | — | ||||||||||
Diluted | 48,823 | 46,476 | 44,796 | ||||||||||
Net income (loss) per share: | |||||||||||||
Basic | $ | 0.12 | $ | 0.06 | $ | (0.63 | ) | ||||||
Diluted | $ | 0.12 | $ | 0.06 | $ | (0.63 | ) | ||||||
All outstanding stock options and RSUs are potentially dilutive securities. As of March 30, 2014 and March 31, 2013, stock options of 1.4 million and 2.2 million, respectively, were excluded from the computation of diluted net income per share because they were determined to be anti-dilutive. For fiscal years 2012, all shares attributable to outstanding options and RSUs were excluded from the computation of diluted net loss per share, as inclusion of such shares would have had an anti-dilutive effect. Accordingly, basic and diluted net loss per share were the same in each period presented. |
Note_12_Common_Stock_Repurchas
Note 12 - Common Stock Repurchases | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||||||
NOTE 12. COMMON STOCK REPURCHASES | |||||||||||||
From time to time, we acquire outstanding common stock in the open market to partially offset dilution from our equity award programs, to increase our return on invested capital and to bring our cash to a more appropriate level for our organization. | |||||||||||||
On August 28, 2007, we announced the approval of a share repurchase plan under which we were authorized to repurchase up to $100.0 million of our common stock. | |||||||||||||
On July 9, 2013, we announced the approval of a share repurchase program under which we were authorized to repurchase an additional $50.0 million of our common stock. The repurchase program does not have a termination date, and may be modified, extended or terminated at any time. We intend to retire all shares repurchased under the stock repurchase plan. The purchase price for the repurchased shares of Exar is reflected as a reduction of common stock and additional paid-in capital. We may continue to repurchase our common stock under the repurchase plan, which would reduce our cash, cash equivalents and/or short-term marketable securities available to fund future operations and to meet other liquidity requirements. | |||||||||||||
In the first fiscal quarter of 2014, we retired all of our 19.9 million treasury shares. | |||||||||||||
As of March 30, 2014, we had repurchased shares valued at $97.2 million under the August 2007 repurchase program. During fiscal year 2014, we repurchased $9.0 million of our common stock under the July 2013 repurchase program. The repurchased shares were retired immediately. During fiscal year 2013 and 2012, we did not repurchase any shares. The remaining authorized amount for the stock repurchase under the repurchase programs is $52.8 million. | |||||||||||||
We repurchased shares valued at $3.0 million in the first quarter of fiscal year 2015. | |||||||||||||
Stock repurchase activities during fiscal year 2014 and 2013 were indicated below (in thousands, except per share amounts): | |||||||||||||
Total number of Shares Purchased | Average Price Paid Per Share | Amount Paid for Purchase | |||||||||||
(or Unit) | |||||||||||||
Balances, April 1, 2012 | 9,564 | $ | 9.22 | $ | 88,189 | ||||||||
Repurchases | — | $ | — | — | |||||||||
Balances, March 31, 2013 | 9,564 | $ | 9.22 | $ | 88,189 | ||||||||
Repurchases | 755 | $ | 11.92 | 9,000 | |||||||||
Balances, March 30, 2014 | 10,319 | $ | 9.42 | $ | 97,189 | ||||||||
Note: The average price paid per share is based on the total price paid by Exar, which includes applicable broker fees. |
Note_13_Employee_Benefit_Plans
Note 13 - Employee Benefit Plans | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||||||
NOTE 13. EMPLOYEE BENEFIT PLANS | |||||||||||||
Exar Savings Plan | |||||||||||||
The Exar Savings Plan (“Plan”), as amended and restated, covers our eligible U.S. employees. The Plan provides for voluntary salary reduction contributions in accordance with Section 401(k) of the Internal Revenue Code as well as matching contributions from Exar. The Exar matching amount is a percentage of employees’ contributions for fiscal year 2014. Exar matching for fiscal year 2013 and 2012 was based on the achievement of specified operating results. | |||||||||||||
Our matching contributions to the Plan for the fiscal years indicated below were as follows (in thousands): | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Matching contributions | $ | 373 | $ | 267 | $ | 294 | |||||||
Management and Employee Incentive Compensation Programs | |||||||||||||
Our incentive compensation programs provide for incentive awards for substantially all employees based on the achievement of personal objectives and our operating performance results. Our incentive compensation programs may be amended or discontinued at the discretion of our board of directors. | |||||||||||||
Our unpaid incentive compensation for the fiscal years indicated below was as follows (in thousands): | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Unpaid incentive compensation | $ | 698 | $ | 781 | $ | — | |||||||
Note_14_StockBased_Compensatio
Note 14 - Stock-Based Compensation | 12 Months Ended | ||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||||||||||
NOTE 14. STOCK-BASED COMPENSATION | |||||||||||||||||||||||||
Employee Stock Participation Plan (“ESPP”) | |||||||||||||||||||||||||
Our ESPP permits employees to purchase common stock through payroll deductions at a purchase price that is equal to 95% of our common stock price on the last trading day of each three-calendar-month offering period. Exar’s ESPP qualifies with IRS 423(b) and was approved by our stockholders at our 1989 annual shareholder meeting. Our ESPP is non-compensatory. | |||||||||||||||||||||||||
The following table summarizes our ESPP transactions during the fiscal periods presented (in thousands, except per share amounts): | |||||||||||||||||||||||||
Shares of | Weighted | ||||||||||||||||||||||||
Common Stock | Average | ||||||||||||||||||||||||
Price per Share | |||||||||||||||||||||||||
Authorized to issue: | 4,500 | $ | — | ||||||||||||||||||||||
Reserved for future issuance: | |||||||||||||||||||||||||
Fiscal year ending March 30, 2014 | 1,372 | — | |||||||||||||||||||||||
Fiscal year ending March 31, 2013 | 1,392 | — | |||||||||||||||||||||||
Fiscal year ending April 1, 2012 | 1,418 | — | |||||||||||||||||||||||
Issued: | |||||||||||||||||||||||||
Fiscal year ending March 30, 2014 | 20 | 11.38 | |||||||||||||||||||||||
Fiscal year ending March 31, 2013 | 26 | 8.38 | |||||||||||||||||||||||
Fiscal year ending April 1, 2012 | 62 | 6.09 | |||||||||||||||||||||||
Equity Incentive Plans | |||||||||||||||||||||||||
We currently have two equity incentive plans, in which shares are available for future issuance, the Exar Corporation 2006 Equity Incentive Plan (the “2006 Plan”) and the Sipex Corporation (“Sipex”) 2006 Equity Incentive Plan (the “Sipex Plan”), the latter of which was assumed in connection with the August 2007 acquisition of Sipex. | |||||||||||||||||||||||||
The 2006 Plan authorizes the issuance of stock options, stock appreciation rights, restricted stock, stock bonuses and other forms of awards granted or denominated in common stock or units of common stock, as well as cash bonus awards. RSUs granted under the 2006 Plan are counted against authorized shares available for future issuance on a basis of two shares for every RSU issued. The 2006 Plan allows for performance-based vesting and partial vesting based upon level of performance. Grants under the Sipex Plan are only available to former Sipex employees or employees of Exar hired after the Sipex acquisition. At our annual meeting on September 15, 2010, our stockholders approved an amendment to the 2006 Plan to increase the aggregate share limit under the 2006 Plan by an additional 5.5 million shares to 8.3 million shares. At March 30, 2014, there were 1.2 million shares available for future grant under all our equity incentive plans. | |||||||||||||||||||||||||
The following table summarizes information about our stock options outstanding at March 30, 2014: | |||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Range of | Number | Weighted | Weighted | Number | Weighted | ||||||||||||||||||||
Exercise Prices | Outstanding | Average | Average | Exercisable | Average | ||||||||||||||||||||
As of | Remaining | Exercise | As of | Exercise | |||||||||||||||||||||
March 30, | Contractual | Price per Share | March 30, | Price per Share | |||||||||||||||||||||
2014 | Terms | 2014 | |||||||||||||||||||||||
(in years) | |||||||||||||||||||||||||
$5.44 | – | $6.43 | 2,010,296 | 4 | $ | 6.27 | 1,184,735 | $ | 6.25 | ||||||||||||||||
6.6 | – | 8.07 | 1,577,634 | 4.34 | 7.62 | 597,423 | 7.46 | ||||||||||||||||||
8.16 | – | 10.8 | 1,764,751 | 5.45 | 9.56 | 387,376 | 8.9 | ||||||||||||||||||
11.23 | – | 13.36 | 1,451,567 | 6.39 | 12.22 | 136,867 | 12.32 | ||||||||||||||||||
13.54 | – | 15.67 | 409,600 | 6.02 | 13.59 | 62,600 | 13.84 | ||||||||||||||||||
Total | 7,213,848 | 5.02 | $ | 8.98 | 2,369,001 | $ | 7.54 | ||||||||||||||||||
Stock Option Activities | |||||||||||||||||||||||||
A summary of stock option transactions during the periods indicated below for all stock option plans was as follows: | |||||||||||||||||||||||||
Outstanding | Weighted | Weighted | Aggregate | In-the-money | |||||||||||||||||||||
Options / | Average | Average | Intrinsic | Options | |||||||||||||||||||||
Quantity | Exercise | Remaining | Value | Vested and | |||||||||||||||||||||
Price per | Contractual | (in thousands) | Exercisable | ||||||||||||||||||||||
Share | Term | (in thousands) | |||||||||||||||||||||||
(in years) | |||||||||||||||||||||||||
Balance at March 27, 2011 | 5,729,464 | $ | 7.61 | 4.74 | $ | 147 | 103 | ||||||||||||||||||
Granted | 3,100,595 | 6.33 | |||||||||||||||||||||||
Exercised | (422,749 | ) | 6.54 | ||||||||||||||||||||||
Cancelled | (526,574 | ) | 8.15 | ||||||||||||||||||||||
Forfeited | (1,535,429 | ) | 6.7 | ||||||||||||||||||||||
Balance at April 1, 2012 | 6,345,307 | $ | 7.23 | 4.67 | $ | 9,474 | 1,193 | ||||||||||||||||||
Granted | 2,540,010 | 8.32 | |||||||||||||||||||||||
Exercised | (875,459 | ) | 6.92 | ||||||||||||||||||||||
Cancelled | (903,781 | ) | 9.67 | ||||||||||||||||||||||
Forfeited | (893,744 | ) | 6.41 | ||||||||||||||||||||||
Balance at March 31, 2013 | 6,212,333 | $ | 7.48 | 5.04 | $ | 19,199 | 1,481 | ||||||||||||||||||
Granted | 2,482,650 | 11.89 | |||||||||||||||||||||||
Exercised | (784,864 | ) | 7.14 | ||||||||||||||||||||||
Cancelled | (10,834 | ) | 10.92 | ||||||||||||||||||||||
Forfeited | (685,437 | ) | 8.02 | ||||||||||||||||||||||
Balance at March 30, 2014 | 7,213,848 | $ | 8.98 | 5.02 | $ | 21,301 | 2,170 | ||||||||||||||||||
Vested and expected to vest, March 30, 2014 | 6,740,358 | $ | 8.88 | 4.94 | $ | 20,539 | |||||||||||||||||||
Vested and exercisable, March 30, 2014 | 2,369,001 | $ | 7.54 | 3.55 | $ | 10,114 | |||||||||||||||||||
The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value, which is based on the closing price of our common stock of $11.71, $10.50 and $8.40 as of March 30, 2014, March 21, 2013 and April 1, 2012, respectively. These are the values which would have been received by option holders if all option holders exercised their options on that date. | |||||||||||||||||||||||||
In January 2012, we granted 480,000 performance-based stock options to our CEO. The options are scheduled to vest in four equal annual installments at the end of fiscal years 2013 through 2016 if certain predetermined financial measures are met. If the financial measures are not met, each installment will be rolled over to the subsequent fiscal year for vesting except for the last installment. In January 2014, we granted 140,000 performance-based stock options to our CEO. The options are scheduled to vest at the end of fiscal years 2017 if certain predetermined financial measures are met We recorded $260,000, $260,000 and $65,000 of compensation expense for these options in fiscal years 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Options exercised for the fiscal years indicated below were as follows (in thousands): | |||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Intrinsic value of options exercised | $ | 3,887 | $ | 1,443 | $ | 79 | |||||||||||||||||||
Cash received related to option exercises | 9,493 | 6,059 | 2,763 | ||||||||||||||||||||||
Tax benefit recorded | 6,669 | 1,927 | 1,761 | ||||||||||||||||||||||
RSUs | |||||||||||||||||||||||||
We issue RSUs to employees and non-employee directors. RSUs generally vest on the first or third anniversary date from the grant date. Prior to vesting, RSUs do not have dividend equivalent rights, do not have voting rights and the shares underlying the RSUs are not considered issued and outstanding. Shares are issued on the date the RSUs vest. | |||||||||||||||||||||||||
A summary of RSU transactions during the periods indicated for all stock option plans is as follows: | |||||||||||||||||||||||||
Shares | Weighted | Weighted | Aggregate | ||||||||||||||||||||||
Average | Average | Intrinsic | |||||||||||||||||||||||
Grant-Date | Remaining | Value | |||||||||||||||||||||||
Fair Value | Contractual | (in thousands) | |||||||||||||||||||||||
Term | |||||||||||||||||||||||||
(in years) | |||||||||||||||||||||||||
Unvested at March 27, 2011 | 557,098 | $ | 7.17 | 1.09 | $ | 3,387 | |||||||||||||||||||
Granted | 481,650 | 7.12 | |||||||||||||||||||||||
Issued and released | (271,830 | ) | 7.25 | ||||||||||||||||||||||
Forfeited | (162,263 | ) | 7.25 | ||||||||||||||||||||||
Unvested at April 1, 2012 | 604,655 | $ | 7.13 | 2.38 | $ | 5,079 | |||||||||||||||||||
Granted | 331,894 | 8.4 | |||||||||||||||||||||||
Issued and released | (125,095 | ) | 7.1 | ||||||||||||||||||||||
Forfeited | (79,250 | ) | 6.96 | ||||||||||||||||||||||
Unvested at March 31, 2013 | 732,204 | $ | 7.73 | 1.72 | $ | 7,688 | |||||||||||||||||||
Granted | 828,995 | 13.06 | |||||||||||||||||||||||
Issued and released | (346,407 | ) | 9.38 | ||||||||||||||||||||||
Forfeited | (37,666 | ) | 9.52 | ||||||||||||||||||||||
Unvested at March 30, 2014 | 1,177,126 | $ | 10.94 | 1.62 | $ | 13,784 | |||||||||||||||||||
Vested and expected to vest, March 30, 2014 | 1,018,609 | 1.58 | $ | 11,928 | |||||||||||||||||||||
The aggregate intrinsic value of RSUs represents the closing price per share of our common stock at the end of the periods presented, multiplied by the number of unvested RSUs or the number of vested and expected to vest RSUs, as applicable, at the end of each period. | |||||||||||||||||||||||||
For RSUs, stock-based compensation expense was calculated based on our stock price on the date of grant, multiplied by the number of RSUs granted. The grant date fair value of RSUs less estimated forfeitures was recognized on a straight-line basis, over the vesting period. | |||||||||||||||||||||||||
In July 2009, we granted performance-based RSUs (“PRSUs”) covering 99,000 shares to certain executives, issuable upon meeting certain performance targets in fiscal year 2010 and vesting annually over a three year period beginning July 1, 2010. The annual vesting requires continued service through each annual vesting date. In fiscal year 2012, we recognized approximately $19,000 of compensation expense related to these awards, net of forfeitures. The awards were fully vested in fiscal year 2012, and no expense was recorded in fiscal year 2013 or 2014. | |||||||||||||||||||||||||
In March 2012, we granted 300,000 PRSUs to our CEO. The PRSUs are scheduled to start vesting in three equal installments at the end of fiscal year 2013 through 2015 with three year vesting periods if certain predetermined financial measures are met. If the financial measures are not met, each installment will be forfeited at the end of its respective fiscal year. In fiscal years 2014, 2013 and 2012, we recorded $732,000, $448,000 and $48,000 compensation expense, respectively for these awards. | |||||||||||||||||||||||||
In April 2012, we granted 29,000 bonus RSUs to our CEO. The RSUs vest 50% on the date that is six months after the commencement of the fiscal year 2013 and 50% on the last day of fiscal year 2013. In fiscal year 2013, we recorded $250,000, of compensation expense for these awards. | |||||||||||||||||||||||||
In June 2012, we announced the Fiscal Year 2013 Management Incentive Program (“2013 Incentive Program”). Under this program, each participant’s award is denominated in stock and subject to achievement of certain financial performance goals and the participant’s annual Management by Objective goals. In fiscal year 2013, we recorded $1.2 million of stock compensation expense related to the 2013 Incentive Program as a result of achieving performance targets at various levels. | |||||||||||||||||||||||||
In July 2013, as part of the acquisition of Cadeka, we agreed to pay retention bonus to certain former Cadeka employees and the bonus will be settled in RSUs subject to fulfillment of the service period. In fiscal year 2014, we recorded $1.2 million of non-cash compensation expense, net of forfeiture for these PRSUs. The expense is reported in the other non-current obligations line in the consolidated balance sheet as the total amount of bonus is to be settled in variable number of RSUs at the completion of the requisite service period. Such non-cash compensation expense is recorded as part of stock compensation expense in the consolidated statement of operations. | |||||||||||||||||||||||||
In August 2013, we announced the Fiscal Year 2014 Management Incentive Program (“2014 Incentive Program”). Under this program, each participant’s award is denominated in stock and subject to achievement of certain financial performance goals and the participant’s annual Management by Objective goals. In fiscal year 2014, we recorded $0.7 million of stock compensation expense related to the 2014 Incentive Program. The expense is reported in the other current liabilities line in the consolidated balance sheet as the total amount of bonus is to be settled in variable number of RSUs at the completion of the requisite service period. Such non-cash compensation expense is recorded as part of stock compensation expense in the consolidated statement of operations. | |||||||||||||||||||||||||
In the first quarter of fiscal 2014 we granted 50,000 PRSUs to certain executives. The PRSUs are scheduled to start vesting in three equal installments at the end of fiscal year 2014 with a three-year vesting period if certain performance measures are met. In fiscal year 2014, we recorded $0.3 million of stock compensation expense related to these PRSUs. | |||||||||||||||||||||||||
In October 2013 we granted 35,000 PRSUs to certain executives. The PRSUs are scheduled to start vesting in three equal installments at the end of fiscal year 2015 with a three-year vesting period if certain performance measures are met. In fiscal year 2014, we recorded $0.1 million of stock compensation expense related to these PRSUs. | |||||||||||||||||||||||||
In January 2014, we granted 80,000 PRSUs to certain former Stretch employees. The PRSUs are scheduled to start vesting in three equal installments at the end of fiscal year 2015 with a three-year vesting period if certain performance measures are met. In fiscal year 2014, we recorded $0 of stock compensation expense related to these PRSUs as the vesting of such PRSUs was not deemed probable. | |||||||||||||||||||||||||
Stock-Based Compensation Expenses | |||||||||||||||||||||||||
Valuation Assumptions | |||||||||||||||||||||||||
The assumptions used in calculating the fair value of stock-based compensation represent our estimates, but these estimates involve inherent uncertainties and the application of management judgments which include the expected term of the share-based awards, stock price volatility and forfeiture rates. As a result, if factors change and we use different assumptions, our stock-based compensation expense could be materially different in the future. | |||||||||||||||||||||||||
Valuation Method—we compute the fair value of stock options on the date of grant using the Black-Scholes option-pricing model. | |||||||||||||||||||||||||
Expected Term—we estimate the expected life of options granted based on historical exercise and post-vest cancellation patterns, which we believe are representative of future behavior. | |||||||||||||||||||||||||
Volatility—our expected volatility is based on historical data of the market closing price for our common stock as reported by NASDAQ Global Select Market (“NASDAQ”) and/or New York Stock Exchange, Inc. (“NYSE”) under the symbol “EXAR” and the expected term of our stock options. | |||||||||||||||||||||||||
Risk-Free Interest Rate—the risk-free interest rate assumption is based on the observed interest rate of the U.S. Treasury appropriate for the expected term of the option to be valued. | |||||||||||||||||||||||||
Dividend Yield—we do not currently pay dividends and have no plans to do so in the future. Therefore, we have assumed a dividend yield of zero. | |||||||||||||||||||||||||
We used the following weighted average assumptions to calculate the fair values of options granted during the fiscal years presented below: | |||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Expected term of options (years) | 4.40 – 4.49 | 4.36 | 4.3 | ||||||||||||||||||||||
Risk-free interest rate | 0.6 – 1.1 | % | 0.5 – 0.6 | % | 0.7 – 1.5 | % | |||||||||||||||||||
Expected volatility | 32 - 35 | % | 37 - 42 | % | 41 - 43 | % | |||||||||||||||||||
Expected dividend yield | — | — | — | ||||||||||||||||||||||
Weighted average grant date fair value | $ | 3.4 | $ | 2.8 | $ | 2.22 | |||||||||||||||||||
The following table summarizes stock-based compensation expense related to stock options and RSUs during the fiscal years presented below (in thousands): | |||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Cost of sales | $ | 714 | $ | 469 | $ | 301 | |||||||||||||||||||
Research and development | 1,974 | 789 | 1,239 | ||||||||||||||||||||||
Selling, general and administrative | 6,164 | 3,530 | 2,210 | ||||||||||||||||||||||
Total stock-based compensation expense | $ | 8,852 | $ | 4,788 | $ | 3,750 | |||||||||||||||||||
The amount of stock-based compensation cost capitalized in inventory was immaterial at each of the fiscal years presented. | |||||||||||||||||||||||||
During fiscal year 2012, we modified stock options and PRSUs held by our then current CEO upon his termination to accelerate the vesting of any portion of each equity award that was scheduled to vest on or within 12 months after November 7, 2011 (the “Severance Date”) and to exercise the vested portion of stock options on or within twelve months after the Severance Date, which is in accordance with the separation agreement. As a result of the modifications in fiscal year 2012, we recorded additional stock-based compensation expense of approximately $114,000. | |||||||||||||||||||||||||
Unrecognized Stock-based Compensation Expense | |||||||||||||||||||||||||
The following table summarizes unrecognized stock-based compensation expense related to stock options and RSUs for the fiscal years indicated below as follows: | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 1-Apr-12 | |||||||||||||||||||||||
Amount | Weighted | Amount | Weighted | Amount | Weighted | ||||||||||||||||||||
(in thousands) | Average | (in thousands) | Average | (in thousands) | Average | ||||||||||||||||||||
Remaining Recognition | Remaining Recognition | Remaining Recognition | |||||||||||||||||||||||
Period | Period | Period | |||||||||||||||||||||||
(in years) | (in years) | (in years) | |||||||||||||||||||||||
Options | $ | 9,958 | 2.7 | $ | 6,269 | 2.8 | $ | 7,356 | 2.8 | ||||||||||||||||
Performance Options | 242 | 2.2 | 502 | 2.6 | 763 | 3.5 | |||||||||||||||||||
RSUs | 5,970 | 2.2 | 1,557 | 2.5 | 1,185 | 3.2 | |||||||||||||||||||
PRSUs | 3,047 | 2.5 | 1,814 | 3.4 | 2,352 | 4.1 | |||||||||||||||||||
Total Stock-based compensation expense | $ | 19,217 | $ | 10,142 | $ | 11,656 | |||||||||||||||||||
Note_15_Lease_Financing_Obliga
Note 15 - Lease Financing Obligation | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||
Debt and Capital Leases Disclosures [Text Block] | ' | ||||||||||||
NOTE 15. LEASE FINANCING OBLIGATION | |||||||||||||
We have acquired engineering design tools under capital leases. We acquired design tools of $0.9 million in July 2012 under a three-year license, $4.5 million in December 2011 under a three-year license, $5.8 million in October 2011 under a three-year license, $1.0 million in June 2010 under a three-year license, $1.3 million in December 2009 under a 28-month license, and $1.1 million in July 2009 under a three-year license, all of which were accounted for as capital leases and recorded in the property, plant and equipment, net line item in the consolidated balance sheets. The obligations related to the design tools were included in other current liabilities and long-term lease financing obligations in our consolidated balance sheets as of March 30, 2014 and April 1, 2012, respectively. The effective interest rates for the design tools range from 2.0% to 7.25%. | |||||||||||||
Amortization expense related to the design tools, which was recorded using the straight-line method over the remaining useful life for the periods indicated below was as follows (in thousands): | |||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Amortization expense | $ | 3,294 | $ | 3,523 | $ | 3,706 | |||||||
Future minimum lease and sublease income payments for the lease financing obligations as of March 30, 2014, which all expire prior to 2019, are as follows (in thousands): | |||||||||||||
Lease financing | |||||||||||||
Fiscal Years | Design tools | ||||||||||||
2015 | $ | 2,741 | |||||||||||
2016 | 59 | ||||||||||||
2017 | 10 | ||||||||||||
2018 | 7 | ||||||||||||
Total minimum lease payments | 2,817 | ||||||||||||
Less: amount representing interest | 76 | ||||||||||||
Present value of future minimum lease payments | 2,741 | ||||||||||||
Less: short-term lease financing obligations | 2,671 | ||||||||||||
Long-term lease financing obligations | $ | 70 | |||||||||||
Interest expense for the design tools lease financing obligations for the periods indicated were as follow (in thousands): | |||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Interest expense – design tools | $ | 155 | $ | 143 | $ | 210 | |||||||
In the course of our business, we enter into arrangements accounted for as operating leases related to the licensing of engineering design software and the rental of office space. Rent expenses for all operating leases for the periods indicated below were as follows (in thousands): | |||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Rent expense | $ | 1,289 | $ | 616 | $ | 2,121 | |||||||
Our future minimum lease payments for the lease operating obligations, which all expire prior to 2019, as of March 30, 2014 are as follows (in thousands): | |||||||||||||
Operating lease | |||||||||||||
Fiscal Years | Facilities | ||||||||||||
2015 | $ | 688 | |||||||||||
2016 | 463 | ||||||||||||
2017 | 152 | ||||||||||||
2018 | 21 | ||||||||||||
Total future minimum lease payments | $ | 1,324 | |||||||||||
Note_16_Commitments_and_Contin
Note 16 - Commitments and Contingencies | 12 Months Ended | ||||||||
Mar. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||||
NOTE 16. COMMITMENTS AND CONTINGENCIES | |||||||||
In 1986, Micro Power Systems Inc. (“MPSI”), a subsidiary that we acquired in June 1994, identified low-level groundwater contamination at its principal manufacturing site. The area and extent of the contamination appear to have been defined. MPSI previously reached an agreement with a prior tenant to share in the cost of ongoing site investigations and the operation of remedial systems to remove subsurface chemicals and well closure activities. In April 2012, the San Francisco Bay Regional Water Quality Control Board (“RWQCB”) approved our application for low-threat closure and rescinded the previous cleanup order. All monitoring well closure activities on the site and adjacent/neighboring sites have been completed. We have finalized and executed access, environmental indemnity and tolling agreements, and deed restriction covenants with the property owner. The required deed restriction has been recorded. We are awaiting final determination from RWQCB. | |||||||||
Outstanding liabilities for remediation activities, net of payments, consisted of the following as of the dates indicated (in thousands): | |||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Liabilities for remediation activities | $ | 28 | $ | 76 | |||||
In early 2012, we received correspondences from the California Department of Toxic Substance Control (“DTSC”) regarding its ongoing investigation of hazardous wastes and hazardous waste constituents at a former regulated treatment facility in San Jose, California. In 1985, MPSI made two separate permitted hazmat deliveries to a licensed and regulated site for treatment. DTSC has requested that former/current property owners and companies, currently in excess of 50, that had hazardous waste treated at the site participate in further site assessment and limited remediation activities. We have entered into various agreements with other named generators, former property owners and DTSC limited to the investigation of the sites’ condition and evaluation, and selection of appropriate remedial measures. The designated environmental consulting firm is moving forward with the agreed preliminary site assessment and periodic status reporting. Given that this matter is in the early stages of investigation and discussions are ongoing, we are unable to ascertain our exposure, if any. | |||||||||
In a letter dated March 27, 2012, Exar was notified by the Alameda County Water District (“ACWD”) of the recent detection of volatile organic compounds at a site adjacent to a facility that was previously owned and occupied by Sipex. The letter was also addressed to prior and current property owners and tenants (collectively “Property Owners”). ACWD requested that the property owners carry out further site investigation activities to determine if the detected compounds are emanating from the site or simply flowing under it. In June 2012, the Property Owners filed with ACWD a report of its investigation/characterization activities and analytical data obtained. Accumulated data suggests that compounds of concern in groundwater appear to be from an offsite source. ACWD is investigating alternative upgradient sites. Given that this investigation is ongoing, we are unable to ascertain our exposure, if any. | |||||||||
We warrant all custom products and application specific products, including cards and boards, against defects in materials and workmanship for a period of 12 months, and occasionally we may provide an extended warranty from the delivery date. We warrant all of our standard products against defects in materials and workmanship for a period of 90 days from the date of delivery. Reserve requirements are recorded in the period of sale and are based on an assessment of the products sold with warranty, historical warranty costs incurred and customer/product specific circumstances. Our liability is generally limited, at our option, to replacing, repairing, or issuing a credit (if it has been paid for). Our warranty does not cover damage which results from accident, misuse, abuse, improper line voltage, fire, flood, lightning or other damage resulting from modifications, repairs or alterations performed other than by us, or resulting from failure to comply with our written operating and maintenance instructions. | |||||||||
Warranty expense has historically been immaterial for our products. The warranty liability related to our product sales as of September 29, 2013 of $1.4 million was established for the return of certain older generation data compression products shipped in prior years. The remaining balance for this warranty was $1.1 million as of March 30, 2014, and warranty liability as of March 31, 2013 was immaterial. | |||||||||
As of the dates indicated below, our warranty reserve balance, which is included in the “Other current liabilities” line item on the consolidated balance sheets, consisted of the following (in thousands): | |||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Beginning balance | $ | 50 | $ | 90 | |||||
Provisions for warranties issued | 1,480 | ─ | |||||||
Settlements/adjustments | (456 | ) | (40 | ) | |||||
Ending balance | $ | 1,074 | $ | 50 | |||||
In the ordinary course of business, we may provide for indemnification of varying scope and terms to customers, vendors, lessors, business partners, purchasers of assets or subsidiaries, and other parties with respect to certain matters, including, but not limited to, losses arising out of our breach of agreements or representations and warranties made by us, services to be provided by us, intellectual property infringement claims made by third parties or, matters related to our conduct of the business. In addition, we have entered into indemnification agreements with our directors and certain of our executive officers that will require us, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or executive officers. We maintain director and officer liability insurance, which may cover certain liabilities arising from our obligation to indemnify our directors and officers, and former directors and officers of acquired companies, in certain circumstances. | |||||||||
It is not possible to determine the aggregate maximum potential loss under these indemnification agreements due to the unique facts and circumstances involved in each particular agreement and claims. Such indemnification agreements might not be subject to maximum loss clauses. Historically, we have not incurred material costs as a result of obligations under these agreements and we have not accrued any liabilities related to such indemnification obligations in our consolidated financial statements. |
Note_17_Legal_Proceedings
Note 17 - Legal Proceedings | 12 Months Ended |
Mar. 30, 2014 | |
Disclosure Text Block Supplement [Abstract] | ' |
Legal Matters and Contingencies [Text Block] | ' |
NOTE 17. LEGAL PROCEEDINGS | |
From time to time, we are involved in various claims, legal actions and complaints arising in the normal course of business. Although the ultimate outcome of the matters discussed below and other matters is not presently determinable, management currently believes that the resolution of all such pending matters will not have a material adverse effect on our financial position, results of operations or cash flows. | |
In fiscal year 2014, two former employees of Exar’s French subsidiary asserted claims against that subsidiary for alleged unfair dismissal in the French Labor Courts. We believe that the former employees were terminated in accordance with the requirements of French law and that the former employees’ claims are not supported by evidence. The matters are in the early procedural stages. A court hearing for one of the matters is scheduled for October 10, 2014. We dispute the claims and we intend to vigorously protect our interests. We do not believe an adverse outcome will have a material impact on our financial position, results of operations or cash flow. |
Note_18_Income_Taxes
Note 18 - Income Taxes | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||
NOTE 18. INCOME TAXES | |||||||||||||
The components of the provision for (benefit from) income taxes as of the dates indicated below were as follows (in thousands): | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | (1,350 | ) | $ | (1,255 | ) | $ | 110 | |||||
State | (93 | ) | (73 | ) | (235 | ) | |||||||
Foreign | (81 | ) | 114 | 218 | |||||||||
Total current | $ | (1,524 | ) | $ | (1,214 | ) | $ | 93 | |||||
Deferred: | |||||||||||||
Federal | $ | (6,807 | ) | $ | 23 | $ | (39 | ) | |||||
State | (147 | ) | 2 | (3 | ) | ||||||||
Total deferred | $ | (6,954 | ) | $ | 25 | $ | (42 | ) | |||||
Total provision for (benefit from) income taxes | $ | (8,478 | ) | $ | (1,189 | ) | $ | 51 | |||||
Foreign income/(loss) included in consolidated pre-tax income for the periods indicated below were as follows (in thousands): | |||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Foreign income/(loss) | $ | (307 | ) | $ | — | $ | 1,243 | ||||||
Undistributed earnings of $5.8 million of our foreign subsidiaries are considered to be indefinitely reinvested and, accordingly, no provision for federal and state income taxes has been provided thereon. Upon distribution of those earnings in the form of a dividend or otherwise, we would be subject to both United States income taxes (subject to an adjustment for foreign tax credits) and withholding taxes payable to various foreign countries. | |||||||||||||
Significant components of our net deferred taxes are as follows as of the dates indicated (in thousands): | |||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Reserves and expenses not currently deductible | $ | 7,973 | $ | 8,049 | |||||||||
Net operating loss carryforwards | 123,826 | 124,662 | |||||||||||
Tax credits | 27,259 | 29,109 | |||||||||||
Losses on investments | 1,832 | 2,110 | |||||||||||
Unrealized investment gain | 80 | - | |||||||||||
Intangible assets | 6,838 | 6,225 | |||||||||||
Deferred margin | 3,968 | 4,158 | |||||||||||
Depreciation | 642 | 604 | |||||||||||
Total deferred tax assets | 172,418 | 174,917 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Unrealized investment loss | — | (116 | ) | ||||||||||
Non-goodwill intangibles | (6,560 | ) | (930 | ) | |||||||||
Total deferred tax liabilities | (6,560 | ) | (1,046 | ) | |||||||||
Valuation allowance | (165,924 | ) | (173,927 | ) | |||||||||
Net deferred tax liabilities | $ | (66 | ) | $ | (56 | ) | |||||||
The valuation allowance decreased $8.0 million and $6.7 million in fiscal years 2014 and 2013, respectively, and increased $13.9 million in fiscal year 2012. The change in fiscal year 2014 was primarily due to release of $6.8 million valuation allowance related to Cadeka acquisition in July 2013 and release of $1.3 million reserve for uncertain tax positions related to an NOL carryback refund in the third quarter of 2014. | |||||||||||||
Reconciliations of the income tax provision at the statutory rate to our provision for (benefit from) income tax are as follows as of the dates indicated (in thousands): | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Income tax benefit at statutory rate | $ | (937 | ) | $ | 593 | $ | (10,061 | ) | |||||
State income taxes, net of federal tax benefit | (1 | ) | 60 | (824 | ) | ||||||||
Deferred tax assets not benefited | (1,972 | ) | (378 | ) | 11,967 | ||||||||
Tax credits | (757 | ) | (539 | ) | (1,021 | ) | |||||||
Stock-based compensation | (427 | ) | 258 | 432 | |||||||||
Foreign rate differential | 156 | 148 | (373 | ) | |||||||||
Prior year tax expense true-up | (10 | ) | 11 | 12 | |||||||||
Fair value adjustment | (3,732 | ) | - | - | |||||||||
Other, net | (798 | ) | (1,342 | ) | (81 | ) | |||||||
Provision for (benefit from) income taxes | $ | (8,478 | ) | $ | (1,189 | ) | $ | 51 | |||||
As of March 30, 2014, our federal, state and Canada net operating loss carryforwards for income tax purposes were as follow (in thousands): | |||||||||||||
Federal net operating loss carryforwards | $ | 325,333 | |||||||||||
State net operating loss carryforwards | $ | 118,149 | |||||||||||
Canada net operating loss carryforwards | $ | 27,064 | |||||||||||
If not utilized, some of the federal net operating loss carryovers will begin expiring in fiscal year 2019, while the state net operating losses will begin to expire in fiscal year 2015. The Canadian net operating loss carryovers will begin expiring in fiscal year 2022, if not utilized. | |||||||||||||
As of March 30, 2014, our federal, state and Canada tax credit carryforwards, net of reserves, were as follows (in thousands): | |||||||||||||
Federal tax credit carryforwards | $ | 9,618 | |||||||||||
State tax credit carryforwards | $ | 19,186 | |||||||||||
Canada tax credit carryforwards | $ | 5,135 | |||||||||||
Federal tax credits will begin to expire in fiscal year 2018. State tax credits are carried forward indefinitely. The Canadian tax credits will begin to expire in fiscal year 2018. | |||||||||||||
Utilization of these federal and state net operating loss and tax credit carryforwards may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended, and similar state provisions. | |||||||||||||
We have evaluated our deferred tax assets and concluded that a valuation allowance is required for that portion of the total deferred tax assets that are not considered more likely than not to be realized in future periods. To the extent that the deferred tax assets with a valuation allowance become realizable in future periods, we will have the ability, subject to carryforward limitations, to benefit from these amounts. Approximately $8.3 million of these deferred tax assets pertain to certain net operating loss and credit carryforwards that resulted from the exercise of employee stock options. When recognized, the tax benefit of these carryforwards is accounted for as a credit to additional paid-in capital rather than a reduction of the income tax provision. | |||||||||||||
Uncertain Income Tax Benefits | |||||||||||||
A reconciliation of the beginning and ending amount of the unrecognized tax benefits during the tax year ended March 30, 2014 is as follows (in thousands): | |||||||||||||
Amount | |||||||||||||
Unrecognized tax benefits as of March 27, 2011 | $ | 16,714 | |||||||||||
Gross decrease related to prior year tax positions | (289 | ) | |||||||||||
Gross increase related to current year tax positions | 578 | ||||||||||||
Lapses in statute of limitation | (183 | ) | |||||||||||
Unrecognized tax benefits as of April 1, 2012 | 16,820 | ||||||||||||
Gross decrease related to prior year tax positions | (271 | ) | |||||||||||
Gross increase related to current year tax positions | 292 | ||||||||||||
Lapses in statute of limitation | (1,376 | ) | |||||||||||
Unrecognized tax benefits as of March 31, 2013 | 15,465 | ||||||||||||
Gross increase related to prior year tax positions | 92 | ||||||||||||
Gross increase related to current year tax positions | 487 | ||||||||||||
Lapses in statute of limitation | (1,880 | ) | |||||||||||
Unrecognized tax benefits as of March 30, 2014 | $ | 14,164 | |||||||||||
Of the total gross unrecognized tax benefits of $14.2 million as of March 30, 2014, $11.6 million, if recognized, would impact the effective tax rate before consideration of the valuation allowance. | |||||||||||||
The total unrecognized gross tax benefits were as follows as of the dates indicated (in thousands): | |||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Unrecognized gross tax benefits | $ | 14,164 | $ | 15,465 | |||||||||
Less: amount used to reduce deferred tax assets | 13,370 | 13,240 | |||||||||||
Net income tax payable(1) | $ | 794 | $ | 2,225 | |||||||||
-1 | Included in other non-current obligations line item in consolidated balance sheet. | ||||||||||||
We believe that it is reasonably possible that the amount of gross unrecognized tax benefits related to the resolution of income tax matters could be reduced by approximately $96,000 during the next 12 months as the statutes of limitations expire, which would decrease the provision for income taxes and increase our net income. | |||||||||||||
Estimated interest and penalties related to the underpayment of income taxes were classified as a component of the provision for income taxes in the consolidated statement of operations. Accrued interest and penalties consisted of the following as of the dates indicated (in thousands): | |||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Accrued interest and penalties | $ | 83 | $ | 228 | |||||||||
Our major tax jurisdictions are the United States federal, various states, Canada, China and certain other foreign jurisdictions. The fiscal years 2003 through 2012 remain open and subject to examinations by the appropriate governmental agencies in the United States and certain of our foreign jurisdictions. | |||||||||||||
On November 6, 2012, California passed Proposition 39, which mandates most taxpayers to apportion their California income by using a single sales factor and requires all taxpayers to use market-based sourcing for sale receipts for tax years beginning or after January 1, 2013. The adoption of this guidance did not have any material impact on our financial position, results of operations or cash flows. | |||||||||||||
ASU No. 2013-11 – US GAAP previously did not include explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. On a jurisdictional basis, Accounting Standard Update (“ASU”) No. 2013-11 generally requires an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Exar has properly applied this guidance to its required SEC disclosures. The adoption of this guidance did not have any material impact on our financial position, results of operations or cash flows. |
Note_19_Segment_and_Geographic
Note 19 - Segment and Geographic Information | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||
NOTE 19. SEGMENT AND GEOGRAPHIC INFORMATION | |||||||||||||
We operate in one reportable segment, which is comprised of one operating segment. We design, develop and market high performance analog mixed-signal integrated circuits and advanced sub-system solutions for the Industrial & Embedded Systems, Networking & Storage and Communications Infrastructure markets. | |||||||||||||
Our net sales by end market were summarized as follows as of the dates indicated below (in thousands): | |||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Industrial & Embedded Systems | $ | 72,458 | $ | 63,396 | $ | 66,602 | |||||||
Networking & Storage | 30,594 | 32,737 | 27,005 | ||||||||||
Communications Infrastructure | 21,808 | 24,965 | 35,829 | ||||||||||
Other | 462 | 928 | 1,130 | ||||||||||
Total net sales | $ | 125,322 | $ | 122,026 | $ | 130,566 | |||||||
Our foreign operations are conducted primarily through our wholly-owned subsidiaries in Canada, China, France, Germany, Japan, Malaysia, South Korea, Taiwan and the United Kingdom. Our principal markets include North America, Europe and the Asia Pacific region. Net sales by geographic areas represent direct sales principally to OEMs, or their designated subcontract manufacturers, and to distributors (affiliated and unaffiliated) who buy our products and resell to their customers. | |||||||||||||
Our net sales by geographic area for the periods indicated below were as follows (in thousands): | |||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
China | $ | 43,537 | $ | 41,118 | $ | 44,035 | |||||||
United States | 37,079 | 32,322 | 33,585 | ||||||||||
Singapore | 13,397 | 13,827 | 13,883 | ||||||||||
Germany | 11,270 | 11,692 | 13,671 | ||||||||||
Japan | 6,393 | 5,685 | 6,161 | ||||||||||
Europe (excluding Germany) | 3,999 | 4,765 | 5,628 | ||||||||||
Rest of world | 9,647 | 12,617 | 13,603 | ||||||||||
Total net sales | $ | 125,322 | $ | 122,026 | $ | 130,566 | |||||||
Substantially all of our long-lived assets at March 30, 2014 and April 1, 2012 were located in the United States. | |||||||||||||
The following distributors accounted for 10% or more of our net sales in the fiscal years indicated below: | |||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Distributor A | 27 | % | 30 | % | 31 | % | |||||||
Distributor B | 21 | % | 11 | % | 11 | % | |||||||
Distributor C | 12 | % | 10 | % | * | % | |||||||
* | Net sales for this distributor for this period were less than 10% of our net sales. | ||||||||||||
No other distributor or customer accounted for 10% or more of the net sales in fiscal years 2014, 2013 and 2012, respectively. | |||||||||||||
The following distributors accounted for 10% or more of our net accounts receivable as of the dates indicated below: | |||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Distributor B | 17 | % | 20 | % | |||||||||
Distributor A | 16 | % | 21 | % | |||||||||
Distributor D | 14 | % | 11 | % | |||||||||
Distributor C | 12 | % | * | ||||||||||
* | Net accounts receivable for this distributor for this period were less than 10% of our net accounts receivables. | ||||||||||||
No other distributor or customer accounted for 10% or more of the net accounts receivable as of March 30, 2014 and March 31, 2013, respectively. |
Note_20_Allowances_for_Sales_R
Note 20 - Allowances for Sales Returns and Doubtful Accounts | 12 Months Ended | ||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||
NOTE 20. ALLOWANCES FOR SALES RETURNS AND DOUBTFUL ACCOUNTS | |||||||||||||||||
We had the following activities for the allowance for sales returns and allowance for doubtful accounts as the dates indicated (in thousands): | |||||||||||||||||
Classification | Balance | Additions | Utilizations (1) | Balance | |||||||||||||
at Beginning | at End | ||||||||||||||||
of Year | of Year | ||||||||||||||||
Allowance for sales returns: | |||||||||||||||||
Year ended March 30, 2014 | $ | 1,084 | $ | 17,004 | $ | 16,414 | $ | 1,674 | |||||||||
Year ended March 31, 2013 | 1,429 | $ | 15,176 | $ | 15,521 | $ | 1,084 | ||||||||||
Year ended April 1, 2012 | 1,245 | 15,701 | 15,517 | 1,429 | |||||||||||||
Allowance for doubtful accounts: | |||||||||||||||||
Year ended March 30, 2014 | 206 | (25 | ) | 70 | 111 | ||||||||||||
Year ended March 31, 2013 | 167 | 39 | — | 206 | |||||||||||||
Year ended April 1, 2012 | 278 | 69 | 180 | 167 | |||||||||||||
-1 | Utilization amounts within allowance for sales returns reflect credits issued to distributors for stock rotations and volume discounts. | ||||||||||||||||
Note_21_Supplementary_Quarterl
Note 21 - Supplementary Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||||||||||||||||||
NOTE 21. SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED) | |||||||||||||||||||||||||||||||||
The following table contains selected unaudited quarterly financial data for fiscal years 2014 and 2013. In the opinion of management, this unaudited information has been prepared on the same basis as the audited information and includes all adjustments, consisting only of normal and recurring adjustments necessary to state fairly the information set forth therein. Results for a given quarter are not necessarily indicative of results for any subsequent quarter (in thousands, except per share data). Net income (loss) per share for the four quarters of each fiscal year may not sum to the total for the fiscal year, because of the different number of shares outstanding during each period. | |||||||||||||||||||||||||||||||||
Fiscal Year 2014 | Fiscal Year 2013 | ||||||||||||||||||||||||||||||||
Classification | Mar. 30, | Dec. 29, | Sep. 29, | Jun. 30, 2013 | Mar. 31, | Dec. 30, | Sep. 30, | Jul. 1, 2012 | |||||||||||||||||||||||||
2014 | 2013 | 2013 | 2013 | 2012 | 2012 | ||||||||||||||||||||||||||||
Consolidated Statement of Operations Data: | |||||||||||||||||||||||||||||||||
Net sales by end market: | |||||||||||||||||||||||||||||||||
Industrial & Embedded Systems | $ | 19,588 | $ | 18,429 | $ | 17,943 | $ | 16,498 | $ | 15,265 | $ | 16,119 | $ | 15,923 | $ | 16,088 | |||||||||||||||||
Networking & Storage | 3,310 | 7,104 | 10,273 | 9,907 | 9,346 | 9,300 | 7,656 | 6,435 | |||||||||||||||||||||||||
Communications Infrastructure | 5,046 | 5,089 | 5,697 | 5,976 | 6,231 | 5,270 | 6,737 | 6,728 | |||||||||||||||||||||||||
Other | 43 | 68 | 105 | 246 | 312 | 310 | 306 | — | |||||||||||||||||||||||||
Net sales | $ | 27,987 | $ | 30,690 | $ | 34,018 | $ | 32,627 | $ | 31,154 | $ | 30,999 | $ | 30,622 | $ | 29,251 | |||||||||||||||||
Gross profit | 8,422 | 12,826 | 13,929 | 15,477 | 15,296 | 14,192 | 13,330 | 12,869 | |||||||||||||||||||||||||
Income (loss) from operations | (311 | ) | (3,321 | ) | (616 | ) | 547 | 1,309 | (353 | ) | (373 | ) | (1,166 | ) | |||||||||||||||||||
Net income (loss) | 147 | (1,634 | ) | 6,482 | 806 | 1,672 | 1,523 | 263 | (576 | ) | |||||||||||||||||||||||
Net income (loss) per share: | |||||||||||||||||||||||||||||||||
Basic | $ | 0 | $ | (0.03 | ) | $ | 0.14 | $ | 0.02 | $ | 0.04 | $ | 0.03 | $ | 0.01 | $ | (0.01 | ) | |||||||||||||||
Diluted | $ | 0 | $ | (0.03 | ) | $ | 0.13 | $ | 0.02 | $ | 0.04 | $ | 0.03 | $ | 0.01 | $ | (0.01 | ) | |||||||||||||||
Shares used in the computation of net income (loss) per share: | |||||||||||||||||||||||||||||||||
Basic | 47,328 | 47,529 | 47,496 | 46,805 | 46,219 | 45,925 | 45,720 | 45,388 | |||||||||||||||||||||||||
Diluted | 48,778 | 47,529 | 49,150 | 48,085 | 47,379 | 46,438 | 46,046 | 45,388 | |||||||||||||||||||||||||
Note_22_Subsequent_Event
Note 22 - Subsequent Event | 12 Months Ended |
Mar. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
NOTE 22. SUBSEQUENT EVENT | |
On April 26, 2014, we signed a definitive agreement (“Merger Agreement”) to acquire Integrated Memory Logic Limited (“iML”), a leading provider of analog mixed-signal solutions for the flat panel display market. The iML acquisition supports Exar's strategy of building a large scale diversified analog mixed-signal business. Under the terms of the transaction, Exar's subsidiary (“Sub”) has commenced a tender offer to acquire all of the outstanding shares of iML for NT$91.00 (approximately US$3.00) per iML share in cash and acquire any remaining shares at NT$91.00 per share pursuant to a follow-on merger. On May 29, 2014, Sub completed the offer. 68,319,091 shares (the “Accepted Shares”) were validly tendered in the offer, representing approximately 92% of iML’s outstanding shares. The persons from whom the Accepted Shares were acquired were the shareholders of iML. Sub will pay an aggregate purchase price of NT$6.2 billion (approximately US$206.0 million) to iML shareholders for the tendered shares. Pursuant to the terms and conditions set forth in the Merger Agreement, Sub intends to conduct a second-step merger in which Sub will merge with and into iML and the remaining outstanding shares will be converted into the right to receive NT$91.00 per share in cash. When complete, the gross transaction value is currently estimated to be NT$6.8 billion (approximately US$224.0 million), or NT$2.8 billion (approximately US$92.0 million), net of cash acquired. After the closing, iML will become a wholly owned subsidiary of Exar and iML stock will cease trading on the Taiwan Stock Exchange. Exar financed the acquisition of the shares with a combination of cash on hand and a new $90.0 million senior secured bridge loan facility. Stifel Financial Corp. has provided Exar a commitment letter to provide Exar up to $90.0 million in senior secured bridge loans. The commitment letter is subject to customary conditions to consummation. | |
Due to the limited time since the date of the acquisition, the initial disclosure for this business combination is incomplete as of the date of this filing. As such, it is impracticable for us to make certain business combination disclosures at this time. We are unable to present the acquisition date fair value of and information related to assets acquired and liabilities assumed. We plan to provide this information in our quarterly report on Form 10-Q for the quarter ending June 29, 2014. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||
Mar. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Fiscal Period, Policy [Policy Text Block] | ' | ||||||||
Basis of Presentation— Our fiscal years consist of 52 or 53 weeks. In a 52-week year, each fiscal quarter consists of 13 weeks. Fiscal years 2014, 2013 and 2012 consisted of 52, 52 and 53 weeks, respectively. Fiscal year 2015 will consist of 52 weeks. Fiscal years ended March 30, 2014, March 31, 2013 and April 1, 2012 are also referred to as “2014,” “2013,” and “2012,” respectively, unless otherwise indicated. | |||||||||
Reclassification, Policy [Policy Text Block] | ' | ||||||||
Certain reclassifications have been made to the prior year consolidated financial statements to conform to the current year’s presentation. Such reclassification had no effect on previously reported results of operations or stockholders’ equity. | |||||||||
Consolidation, Policy [Policy Text Block] | ' | ||||||||
Principles of Consolidation—The consolidated financial statements include the accounts of Exar and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. | |||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||
Use of Management Estimates—The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including (1) revenue recognition; (2) allowance for doubtful accounts; (3) valuation of inventories; (4) income taxes; (5) stock-based compensation; (6) goodwill; (7) long-lived assets; (8) contingent consideration; and (9) warranty liabilities. Actual results could differ from these estimates and material effects on operating results and financial position may result. | |||||||||
Business Combinations Policy [Policy Text Block] | ' | ||||||||
Business Combinations—The estimated fair value of acquired assets and assumed liabilities and the results of operations of acquired businesses are included in our consolidated financial statements from the effective date of the purchase. The total purchase price is allocated to the estimated fair value of assets acquired and liabilities assumed. (See Note 4—“Business Combinations.”) | |||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||
Cash and Cash Equivalents—We consider all highly liquid debt securities and investments with maturities of 90 days or less from the date of purchase to be cash and cash equivalents. Cash and cash equivalents also consist of cash on deposit with banks and money market funds. | |||||||||
Inventory, Policy [Policy Text Block] | ' | ||||||||
Inventories—Inventories are recorded at the lower of cost or market, determined on a first-in, first-out basis. Cost is computed using the standard cost, which approximates average actual cost. Inventory is written down when conditions indicate that the selling price could be less than cost due to physical deterioration, obsolescence, changes in price levels, or other causes. The write-down of excess inventories is generally based on inventory levels in excess of 12 months of demand, as judged by management, for each specific product. | |||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||
Property, Plant and Equipment—Property, plant and equipment, including assets held under capital leases and leasehold improvements, are stated at cost less accumulated depreciation and amortization. Depreciation for machinery and equipment is computed using the straight-line method over the estimated useful lives of the assets, which ranges from three to 10 years. Buildings are depreciated using the straight-line method over an estimated useful life of 30 years. Assets held under capital leases and leasehold improvements are amortized over the shorter of the terms of the leases or their estimated useful lives. Land is not depreciated. | |||||||||
Investment, Policy [Policy Text Block] | ' | ||||||||
Non-Marketable Equity Securities—Non-marketable equity investments are accounted for at historical cost and are presented on our consolidated balance sheets within other non-current assets. | |||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' | ||||||||
Other-Than-Temporary Impairment—All of our marketable and non-marketable investments are subject to periodic impairment reviews. Investments are considered to be impaired when a decline in fair value is judged to be other-than-temporary, as follows: | |||||||||
Marketable investments—When the resulting fair value is significantly below cost basis and/or the significant decline has lasted for an extended period of time, we perform an evaluation to determine whether the marketable equity security is other than temporarily impaired. The evaluation that we use to determine whether a marketable equity security is other than temporarily impaired is based on the specific facts and circumstances present at the time of assessment, which include significant quantitative and qualitative assessments and estimates regarding credit ratings, collateralized support, the length of time and significance of a security’s loss position and intent and ability to hold a security to maturity or forecasted recovery. Other-than-temporary declines in value of our investments are reported in the impairment of long term investment line in the consolidated statements of operations. | |||||||||
Non-marketable equity investments—When events or circumstances are identified that would likely have a significant adverse effect on the fair value of the investment and the fair value is significantly below cost basis and/or the significant decline has lasted for an extended period of time, we perform an impairment analysis. The indicators that we use to identify those events and circumstances include: | |||||||||
• | the investment manager’s evaluation; | ||||||||
• | the investee’s revenue and earnings trends relative to predefined milestones and overall business prospects; | ||||||||
• | the technological feasibility of the investee’s products and technologies; | ||||||||
• | the general market conditions in the investee’s industry; and | ||||||||
• | the investee’s liquidity, debt ratios and the rate at which the investee is using cash. | ||||||||
Investments identified as having an indicator of impairment are subject to further analysis to determine if the investment is other than temporarily impaired, and if so, the investment is written-down to its impaired value. When an investee is not considered viable from a financial or technological point of view, the entire investment is written down. Impairment of non-marketable equity investments is recorded in the impairment charges on investments line in the consolidated statements of operations. | |||||||||
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | ' | ||||||||
Goodwill— Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. We evaluate goodwill for impairment on an annual basis or whenever events and changes in circumstances suggest that the carrying amount may not be recoverable. We conduct our annual impairment analysis in the fourth quarter of each fiscal year. Impairment of goodwill is tested at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. Estimations and assumptions regarding the number of reporting units, future performances, results of our operations and comparability of our market capitalization and net book value will be used. If the carrying amount of the reporting unit exceeds its fair value, goodwill is considered impaired and a second step is performed to measure the amount of impairment loss. Because we have one reporting unit, we utilize an entity-wide approach to assess goodwill for impairment. | |||||||||
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | ' | ||||||||
Long-Lived Assets—We review long-lived assets, including property and equipment and intangible assets, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets (or asset group) may not be fully recoverable. Whenever events or changes in circumstances suggest that the carrying amount of long-lived assets may not be recoverable, we estimate the future cash flows expected to be generated by the assets (or asset group) from its use or eventual disposition. If the sum of the expected future cash flows is less than the carrying amount of those assets, we recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets. Significant management judgment is required in the grouping of long-lived assets and forecasts of future operating results that are used in the discounted cash flow method of valuation. If our actual results, or the plans and estimates used in future impairment analyses are lower than the original estimates used to assess the recoverability of these assets, we could incur additional impairment charges. | |||||||||
When we determine that the useful lives of assets are shorter than we had originally estimated, we accelerate the rate of depreciation and/or amortization over the assets’ new, shorter useful lives. | |||||||||
Substantially all of our property, plant and equipment and other long-lived assets are located in the United States. | |||||||||
In Process Research and Development, Policy [Policy Text Block] | ' | ||||||||
In-process research and development—In-process research and development (“IPR&D”) assets are considered indefinite-lived intangible assets and are not subject to amortization until their useful life is determined. IPR&D assets must be tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test consists of a comparison of the fair value of the IPR&D assets with their carrying values. If the carrying amount of the IPR&D asset exceeds its fair value, an impairment loss must be recognized in an amount equal to that excess. After an impairment loss is recognized, the adjusted carrying amount of the IPR&D assets will be their new accounting basis. Subsequent reversal of a previously recognized impairment loss is prohibited. The initial determination and subsequent evaluation for impairment of the IPR&D asset requires management to make significant judgments and estimates. Once an IPR&D project has been completed, the useful life of the IPR&D asset is determined and amortized accordingly. If the IPR&D asset is abandoned, the remaining carrying value is written off. | |||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||
Income Taxes—Deferred taxes are recognized using the asset and liability method, whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, operating losses and tax credit carryforwards. Valuation allowances are provided if it is more likely than not that some or all of the deferred tax assets will not be realized. | |||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||
Revenue Recognition—We recognize revenue in accordance with Financial Accounting Standards Board (“FASB”) authoritative guidance for revenue recognition. Four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) the price is fixed or determinable; and (4) collectability is reasonably assured. | |||||||||
We derive revenue principally from the sale of our products to distributors and to original equipment manufacturers (“OEMs”) or their contract manufacturers. Our delivery terms are primarily free on board shipping point, at which time title and all risks of ownership are transferred to the customer. | |||||||||
To date, software revenue has been an immaterial portion of our net sales. | |||||||||
Non-distributors—For non-distributors, revenue is recognized when title to the product is transferred to the customer, which occurs upon shipment or delivery, depending upon the terms of the customer order, provided that persuasive evidence of a sales arrangement exists, the price is fixed or determinable, collection of the resulting receivables is reasonably assured, there are no customer acceptance requirements and there are no remaining significant obligations. Provisions for returns and allowances for non-distributor customers are provided at the time product sales are recognized. Allowances for sales returns and other reserves are recorded based on historical experience or specific identification of an event necessitating an allowance. | |||||||||
Distributors—Agreements with our two primary distributors permit the return of 5% to 6% of their purchases during the preceding quarter for purposes of stock rotation. For one of these distributors, a scrap allowance of 1% of the preceding quarter’s purchases is permitted. We also provide discounts to certain distributors based on volume of product they sell for a specific product with a specific volume range for a given customer over a period not to exceed one year. | |||||||||
We recognize revenue from each of our distributors using the sell-in basis or sell-through basis, each as described below. Once adopted, the basis for revenue recognition for a distributor is maintained unless there is a change in circumstances indicating the basis for revenue recognition for that distributor is no longer appropriate. | |||||||||
• | Sell-in Basis—Revenue is recognized upon shipment if we conclude we meet the same criteria as for non-distributors discussed above and we can reasonably estimate the credits for returns, pricing allowances and/or other concessions. We record an estimated allowance, at the time of shipment, based upon historical patterns of returns, pricing allowances and other concessions (i.e., “sell-in” basis). | ||||||||
• | Sell-through Basis—Revenue and the related costs of sales are deferred until the resale to the end customer if we grant more than limited rights of return, pricing allowances and/or other concessions or if we cannot reasonably estimate the level of returns and credits issuable (i.e., “sell-through” basis). Under the sell-through basis, accounts receivable are recognized and inventory is relieved upon shipment to the distributor as title to the inventory is transferred upon shipment, at which point we have a legally enforceable right to collection under normal terms. The associated sales and cost of sales are deferred and are included in deferred income and allowances on sales to distributors in the consolidated balance sheet. When the related product is sold by our distributors to their end customers, at which time the ultimate price we receive is known, we recognize previously deferred income as sales and cost of sales. | ||||||||
The following table summarizes the deferred income balance, primarily consisting of sell-through distributors (in thousands): | |||||||||
As of March 30, | As of March 31, | ||||||||
2014 | 2013 | ||||||||
Deferred revenue at published list price | $ | 15,871 | $ | 18,652 | |||||
Deferred cost of revenue | (4,757 | ) | (6,778 | ) | |||||
Deferred income | $ | 11,114 | $ | 11,874 | |||||
Sell-through revenue recognition is highly dependent on receiving pertinent and accurate data from our distributors in a timely fashion. Distributors provide us periodic data regarding the product, price, quantity and end customer when products are resold as well as the quantities of our products they still have in stock. We must use estimates and apply judgments to reconcile distributors’ reported inventories to their activities. Any error in our judgment could lead to inaccurate reporting of our net sales, gross profit, deferred income and allowances on sales to distributors and net income. | |||||||||
Mask Costs Policy [Text Block] | ' | ||||||||
Mask Costs— We incur costs for the fabrication of masks to manufacture our products. If we determine the product technological feasibility has been achieved when costs are incurred, the costs will be treated as pre-production costs and capitalized as machinery and equipment under property, plant and equipment. The amount will be amortized to cost of sales over the estimated production period of the product. If product technological feasibility has not been achieved or the mask is not expected to be utilized in production manufacturing, the related mask costs are expensed to Research and development (“R&D”) when incurred. We periodically assess capitalized mask costs for impairment. Total mask costs capitalized were $2.3 million and $1.7 million as of March 30, 2014 and March 31, 2013, respectively. The costs capitalized are amortized over five years commencing with the start of commercial production. | |||||||||
Research and Development Expense, Policy [Policy Text Block] | ' | ||||||||
Research and Development Expenses—R&D costs consist primarily of salaries, employee benefits, certain types of mask tooling costs, depreciation, amortization, overhead, outside contractors, facility expenses, and non-recurring engineering fees. Expenditures for research and development are charged to expense as incurred. In accordance with FASB authoritative guidance for the costs of computer software to be sold, leased or otherwise marketed, certain software development costs are capitalized after technological feasibility has been established. The period from achievement of technological feasibility, which we define as the establishment of a working model, until the general availability of such software to customers, has been short, and therefore software development costs qualifying for capitalization have been insignificant. Accordingly, we have not capitalized any software development costs in fiscal years 2014, 2013 and 2012. | |||||||||
We have entered into an agreement under which certain R&D costs are eligible for reimbursement. Amounts reimbursed under this arrangement are offset against R&D expenses. During fiscal years 2014, 2013 and 2012, we offset $1.5 million, $2.0 million and $4.0 million, respectively, of R&D expenses in connection with such agreements. | |||||||||
Advertising Costs, Policy [Policy Text Block] | ' | ||||||||
Advertising Expenses—We expense advertising costs as incurred. Advertising expenses for fiscal years 2014, 2013 and 2012 were immaterial. | |||||||||
Comprehensive Income, Policy [Policy Text Block] | ' | ||||||||
Comprehensive Income (Loss)—Comprehensive income (loss) includes charges or credits to equity related to changes in unrealized gains or losses on marketable securities, net of taxes. Comprehensive income (loss) for fiscal years 2014, 2013 and 2012 has been disclosed within the consolidated statements of comprehensive income (loss). | |||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ||||||||
Foreign Currency—The accounts of foreign subsidiaries are remeasured to U.S. dollars for financial reporting purposes by using the U.S. dollar as the functional currency and exchange gains and losses are reported in income and expenses. These currency gains or losses are reported in interest income and other, net in the consolidated statements of operations. Monetary balance sheet accounts are remeasured using the current exchange rate in effect at the balance sheet date. For non-monetary items, the accounts are measured at the historical exchange rate. Revenues and expenses are remeasured at the average exchange rates for the period. Foreign currency transaction losses were immaterial for fiscal years 2014, 2013 and 2012. | |||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ||||||||
Concentration of Credit Risk and Significant Customers—Financial instruments potentially subjecting us to concentrations of credit risk consist primarily of cash, cash equivalents, short-term marketable securities, accounts receivable and long-term investments. The majority of our sales are derived from distributors and manufacturers in the communications, industrial, storage and computer industries. We perform ongoing credit evaluations of our customers and generally do not require collateral for sales on credit. We maintain allowances for potential credit losses, and such losses have been within management’s expectations. Charges to bad debt expense were insignificant for fiscal years 2014, 2013 and 2012. Our policy is to invest our cash, cash equivalents and short-term marketable securities with high credit quality financial institutions and limit the amounts invested with any one financial institution or in any type of financial instrument. We do not hold or issue financial instruments for trading purposes. | |||||||||
We sell our products to distributors and OEMs throughout the world. Future Electronics, Inc. (“Future”), a related party, has been and continues to be our largest distributor. See “Note 19 — Segment and Geographic Information,” for distributors who accounted for more than 10% of net sales and accounts receivable. | |||||||||
Concentration of Other Risks—The majority of our products are currently fabricated by our foundry suppliers and are assembled and tested by third-party subcontractors located in Asia. A significant disruption in the operations of one or more of these subcontractors could impact the production of our products for a substantial period of time which could result in a material adverse effect on our business, financial condition and results of operations. | |||||||||
Fair Value Measurement, Policy [Policy Text Block] | ' | ||||||||
Fair Value of Financial Instruments—We estimate the fair value of our financial instruments by using available market information and valuation methodologies considered to be appropriate. However, considerable judgment is required in interpreting market data to develop the estimates of fair value. The use of different market assumptions and/or estimation methodologies could have a material effect on estimated fair value amounts. The estimated fair value of our cash equivalents, short-term marketable securities, accounts receivable, accounts payable and accrued liabilities presented in the consolidated balance sheets at March 30, 2014, March 31, 2013 and April 1, 2012 was not materially different from the carrying values due to the relatively short periods to maturity of the instruments. | |||||||||
Fair Value of Contingent Consideration—We estimate the fair value of our contingent consideration at the date of acquisition and is re-measured each reporting period and any changes in the fair value of the contingent consideration are recognized as a gain or loss in the consolidated statements of operations. The contingent consideration is valued with level three inputs. As of March 30, 2014 and March 31, 2013, the fair value of the contingent consideration was $4.3 million and $10.1 million, respectively and is included in current and noncurrent liabilities on the consolidated balance sheet. | |||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||
Stock-Based Compensation—We measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. We use the Black-Scholes model to estimate the fair value of our options. The fair value of time-based and performance-based restricted stock units is based on the grant date share price. The fair value of market-based restricted stock units is estimated using a Monte Carlo simulation model. See Part II, Item 8—“Financial Statements and Supplementary Data” and “Notes to the Consolidated Financial Statements, Note 14—Stock-Based Compensation” for more details about our assumptions used in calculating the stock-based compensation expenses and equity related transactions during the fiscal year. | |||||||||
We recognize compensation expense equal to the grant-date fair value for all share-based payment awards that are expected to vest. This expense is recorded on a straight-line basis over the requisite service period of the entire awards, unless the awards are subject to performance or market conditions, in which case we recognize compensation expense over the requisite service period of each separate vesting tranche. For the performance-based awards, we recognize compensation expense when it becomes probable that the performance criteria specified in the plan will be achieved. For the market-based awards, compensation expense is not reversed if the market condition is not satisfied. The amount of stock-based compensation that we recognize is also based on an expected forfeiture rate. If there is a difference between the forfeiture assumptions used in determining stock-based compensation costs and the actual forfeitures which become known over time, we may change the forfeiture rate, which could have a significant impact on its stock-based compensation expense. In addition, we follow the “with-and-without” intra-period allocation approach in our tax attribute calculations | |||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||
Recent Accounting Pronouncements | |||||||||
In July 2013, the FASB issued amended standards that provided explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward or a tax credit carryforward exists. Under the amended standards, the unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward or a tax credit carryforward. These amended standard updates will be effective for our interim period beginning after December 15, 2013 and applied prospectively with early adoption permitted. The adoption of this guidance did not have any material impact on our financial position, results of operations or cash flows. | |||||||||
In February 2013, the FASB issued amended standards to improve the reporting of reclassifications out of accumulated other comprehensive income by requiring an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. generally accepted accounting principles (“GAAP”) to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. These amended standards are effective for interim and annual reporting periods beginning after December 15, 2012. The adoption of this guidance did not have any material impact on our financial position, results of operations or cash flows. | |||||||||
In May 2014, the FASB issued a new standard, Revenue from Contracts with Customers, to clarify the principles for recognizing revenue to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (“IFRS”) that would (1) provide a more robust framework for addressing revenue recognition; (2) improve comparability of revenue recognition practice across entities, industries, jurisdictions, and capital markets; and (3) provide more useful information to users of financial statements through improved disclosure requirements. This standard is effective for annual reporting periods beginning after December 15, 2016. Exar is currently evaluating the effect the adoption of this standard will have, if any, on our consolidated financial position, results of operations or cash flows. |
Note_3_Accounting_Policies_Tab
Note 3 - Accounting Policies (Tables) | 12 Months Ended | ||||||||
Mar. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | ' | ||||||||
As of March 30, | As of March 31, | ||||||||
2014 | 2013 | ||||||||
Deferred revenue at published list price | $ | 15,871 | $ | 18,652 | |||||
Deferred cost of revenue | (4,757 | ) | (6,778 | ) | |||||
Deferred income | $ | 11,114 | $ | 11,874 |
Note_4_Business_Combinations_T
Note 4 - Business Combinations (Tables) | 12 Months Ended | ||||
Mar. 30, 2014 | |||||
Business Combinations [Abstract] | ' | ||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||
Amount | |||||
Identifiable tangible assets (liabilities) | |||||
Cash | $ | 344 | |||
Accounts receivable | 143 | ||||
Inventories | 2,154 | ||||
Other current assets | 267 | ||||
Property, plant and equipment | 18 | ||||
Other assets | 11 | ||||
Debt assumed | (6,186 | ) | |||
Accounts payable and accruals | (3,408 | ) | |||
Other short-term liabilities | (1,010 | ) | |||
Total identifiable tangible assets (liabilities), net | (7,667 | ) | |||
Identifiable intangible assets | 7,010 | ||||
Total identifiable assets, net | (657 | ) | |||
Goodwill | 667 | ||||
Fair value of total consideration transferred | $ | 10 | |||
Fair Value | |||||
Developed technologies | $ | 5,990 | |||
Customer relations | 1,020 | ||||
Total identifiable intangible assets | $ | 7,010 | |||
Amount | |||||
Identifiable tangible assets (liabilities) | |||||
Cash | $ | 1,055 | |||
Accounts Receivable | 241 | ||||
Inventories | 1,756 | ||||
Property, plant and equipment | 231 | ||||
Other assets | 3 | ||||
Accounts payable and accruals | (7,400 | ) | |||
Other short-term liabilities | (520 | ) | |||
Long-term liabilities | (296 | ) | |||
Total identifiable tangible assets (liabilities), net | (4,930 | ) | |||
Identifiable intangible assets | 20,380 | ||||
Total identifiable assets, net | 15,450 | ||||
Goodwill | 19,387 | ||||
Fair value of total consideration transferred | $ | 34,837 | |||
Fair Value | |||||
Developed technologies | $ | 15,720 | |||
In-process research and development | 2,280 | ||||
Customer relations | 2,170 | ||||
Trade name | 210 | ||||
Total identifiable intangible assets | $ | 20,380 | |||
Amount | |||||
Identifiable tangible assets | |||||
Inventories | $ | 126 | |||
Property, plant and equipment | 140 | ||||
Other assets | 36 | ||||
Accounts payable and accruals | (24 | ) | |||
Other short-term liabilities | (51 | ) | |||
Long-term liabilities | (61 | ) | |||
Total identifiable tangible assets, net | 166 | ||||
Identifiable intangible assets – existing technology | 7,540 | ||||
Total identifiable assets, net | 7,706 | ||||
Goodwill | 7,172 | ||||
Fair value of total consideration transferred | $ | 14,878 | |||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||
Year ended | |||||
30-Mar-14 | |||||
Net sales | $ | 134,290 | |||
Schedule Of Consideration Paid [Table Text Block] | ' | ||||
Amount | |||||
Cash | $ | 25,000 | |||
Equity instruments | 5,177 | ||||
Estimated fair value of earn-out payments | 4,660 | ||||
Total consideration paid | $ | 34,837 | |||
Amount | |||||
Cash | $ | 1,000 | |||
Equity instruments | 3,740 | ||||
Estimated fair value of earn-out payments | 10,138 | ||||
Total consideration paid | $ | 14,878 |
Note_5_Balance_Sheet_Details_T
Note 5 - Balance Sheet Details (Tables) | 12 Months Ended | ||||||||
Mar. 30, 2014 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Land | $ | 6,660 | $ | 6,660 | |||||
Building | 16,787 | 16,224 | |||||||
Machinery and equipment | 40,675 | 42,258 | |||||||
Software and licenses | 17,549 | 17,566 | |||||||
Property, plant and equipment, total | 81,671 | 82,708 | |||||||
Accumulated depreciation and amortization | (60,391 | ) | (58,608 | ) | |||||
Total property, plant and equipment, net | $ | 21,280 | $ | 24,100 | |||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Work-in-progress and raw materials | $ | 13,555 | $ | 9,981 | |||||
Finished goods | 15,427 | 9,449 | |||||||
Total inventories | $ | 28,982 | $ | 19,430 | |||||
Other Current Liabilities [Table Text Block] | ' | ||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Short-term lease financing obligations | $ | 2,671 | $ | 3,189 | |||||
Accrued restructuring charges and exit costs | 2,214 | 2,020 | |||||||
Accrued manufacturing expenses, royalties and licenses | 1,639 | 2,370 | |||||||
Accrued legal and professional services | 1,453 | 746 | |||||||
Purchase consideration holdback | 1,256 | — | |||||||
Accrued sales and marketing expenses | 666 | 576 | |||||||
Fair value of earn out liability – short-term | 490 | 2,599 | |||||||
Accrual for dispute resolution | — | 2,727 | |||||||
Other | 981 | 988 | |||||||
Total other current liabilities | $ | 11,370 | $ | 15,215 | |||||
Other Noncurrent Liabilities [Table Text Block] | ' | ||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Fair value of earn out liability – long-term | $ | 3,853 | $ | 7,539 | |||||
Accrued retention bonus | 1,181 | — | |||||||
Long-term taxes payable | 794 | 2,225 | |||||||
Deferred tax liability | 614 | 145 | |||||||
Accrued restructuring charges and exit costs | 155 | 1,266 | |||||||
Other | 29 | 29 | |||||||
Total other non-current obligations | $ | 6,626 | $ | 11,204 |
Note_6_Fair_Value_Tables
Note 6 - Fair Value (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||||||
30-Mar-14 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Money market funds | $ | 4,636 | $ | — | $ | — | $ | 4,636 | |||||||||||||||||
U.S. government and agency securities | 9,378 | 13,134 | — | 22,512 | |||||||||||||||||||||
State and local government securities | — | 2,772 | — | 2,772 | |||||||||||||||||||||
Corporate bonds and securities | 5 | 71,248 | — | 71,253 | |||||||||||||||||||||
Asset-backed securities | — | 27,635 | — | 27,635 | |||||||||||||||||||||
Mortgage-backed securities | — | 28,248 | — | 28,248 | |||||||||||||||||||||
Total investment assets | $ | 14,019 | $ | 143,037 | $ | — | $ | 157,056 | |||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Acquisition-related contingent consideration – Altior | $ | — | $ | — | $ | 2,973 | $ | 2,973 | |||||||||||||||||
Acquisition-related contingent consideration – Cadeka | $ | — | $ | — | $ | 1,370 | $ | 1,370 | |||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 4,343 | $ | 4,343 | |||||||||||||||||
31-Mar-13 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Money market funds | $ | 5,042 | $ | — | $ | — | $ | 5,042 | |||||||||||||||||
U.S. government and agency securities | 22,460 | 19,261 | — | 41,721 | |||||||||||||||||||||
State and local government securities | — | 2,935 | — | 2,935 | |||||||||||||||||||||
Corporate bonds and securities | 274 | 91,955 | — | 92,229 | |||||||||||||||||||||
Asset-backed securities | — | 30,966 | — | 30,966 | |||||||||||||||||||||
Mortgage-backed securities | — | 22,736 | — | 22,736 | |||||||||||||||||||||
Total investment assets | $ | 27,776 | $ | 167,853 | $ | — | $ | 195,629 | |||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Acquisition-related contingent consideration – Altior | $ | — | $ | — | $ | 10,138 | $ | 10,138 | |||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||
Fair Value | Valuation Technique | Significant | Range | ||||||||||||||||||||||
(in thousands) | Unobservable Input | ||||||||||||||||||||||||
As of March 30, 2014 | |||||||||||||||||||||||||
Acquisition-related contingent consideration – Altior | $ | 2,973 | Combination of income and market approach | Revenue (in “000’s) | $6,725 | - | $20,175 | ||||||||||||||||||
Probability of Achievement | 1% | - | 66% | ||||||||||||||||||||||
Acquisition-related contingent consideration – Cadeka | $ | 1,370 | Combination of income and market approach | Revenue (in “000’s) | $4,800 | - | $18,000 | ||||||||||||||||||
Probability of Achievement | 2% | - | 50% | ||||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||
Amount | |||||||||||||||||||||||||
As of original recognition in year ended and as of March 31, 2013 | $ | 10,138 | |||||||||||||||||||||||
Less: Adjustment to purchase consideration | (7,165 | ) | |||||||||||||||||||||||
As of March 30, 2014 | $ | 2,973 | |||||||||||||||||||||||
Amount | |||||||||||||||||||||||||
As of March 31, 2013 | $ | — | |||||||||||||||||||||||
Purchase contingent consideration | 4,660 | ||||||||||||||||||||||||
Less: Adjustment to purchase consideration | (3,290 | ) | |||||||||||||||||||||||
As of March 30, 2014 | $ | 1,370 | |||||||||||||||||||||||
Marketable Securities [Table Text Block] | ' | ||||||||||||||||||||||||
March 30, | March 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||
Cash in financial institutions | $ | 9,978 | $ | 9,676 | |||||||||||||||||||||
Money market funds | 4,636 | 5,042 | |||||||||||||||||||||||
Total cash and cash equivalents | $ | 14,614 | $ | 14,718 | |||||||||||||||||||||
Short-term marketable securities | |||||||||||||||||||||||||
U.S. government and agency securities | $ | 22,512 | $ | 41,721 | |||||||||||||||||||||
State and local government securities | 2,772 | 2,935 | |||||||||||||||||||||||
Corporate bonds and securities | 71,253 | 92,229 | |||||||||||||||||||||||
Asset-backed securities | 27,635 | 30,966 | |||||||||||||||||||||||
Mortgage-backed securities | 28,248 | 22,736 | |||||||||||||||||||||||
Total short-term marketable securities | $ | 152,420 | $ | 190,587 | |||||||||||||||||||||
Realized Gain (Loss) on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
Fiscal Years Ended | |||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Gross realized gains | $ | 748 | $ | 871 | $ | 799 | |||||||||||||||||||
Gross realized losses | (547 | ) | (953 | ) | (1,098 | ) | |||||||||||||||||||
Net realized gains (losses) | $ | 201 | $ | (82 | ) | $ | (299 | ) | |||||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||||||||||
30-Mar-14 | |||||||||||||||||||||||||
Amortized | Unrealized Gross | Unrealized Gross | Fair Value | ||||||||||||||||||||||
Cost | Gains(1) | Losses(1) | |||||||||||||||||||||||
Money market funds | $ | 4,636 | $ | — | $ | — | $ | 4,636 | |||||||||||||||||
U.S. government and agency securities | 22,550 | 1 | (39 | ) | 22,512 | ||||||||||||||||||||
State and local government securities | 2,762 | 10 | — | 2,772 | |||||||||||||||||||||
Corporate bonds and securities | 71,309 | 32 | (88 | ) | 71,253 | ||||||||||||||||||||
Asset-backed securities | 27,661 | 22 | (48 | ) | 27,635 | ||||||||||||||||||||
Mortgage-backed securities | 28,362 | 24 | (138 | ) | 28,248 | ||||||||||||||||||||
Total investments | $ | 157,280 | $ | 89 | $ | (313 | ) | $ | 157,056 | ||||||||||||||||
31-Mar-13 | |||||||||||||||||||||||||
Amortized | Unrealized Gross | Unrealized Gross | Fair Value | ||||||||||||||||||||||
Cost | Gains(1) | Losses(1) | |||||||||||||||||||||||
Money market funds | $ | 5,042 | $ | — | $ | — | $ | 5,042 | |||||||||||||||||
U.S. government and agency securities | 41,694 | 27 | — | 41,721 | |||||||||||||||||||||
State and local government securities | 2,927 | 10 | (2 | ) | 2,935 | ||||||||||||||||||||
Corporate bonds and securities | 92,059 | 215 | (45 | ) | 92,229 | ||||||||||||||||||||
Asset-backed securities | 30,932 | 61 | (27 | ) | 30,966 | ||||||||||||||||||||
Mortgage-backed securities | 22,646 | 194 | (104 | ) | 22,736 | ||||||||||||||||||||
Total investments | $ | 195,300 | $ | 507 | $ | (178 | ) | $ | 195,629 | ||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||
Amortized | Fair Value | Amortized | Fair Value | ||||||||||||||||||||||
Cost | Cost | ||||||||||||||||||||||||
Less than 1 year | $ | 49,539 | $ | 49,504 | $ | 61,011 | $ | 61,029 | |||||||||||||||||
Due in 1 to 5 years | 107,741 | 107,552 | 134,289 | 134,600 | |||||||||||||||||||||
Total | $ | 157,280 | $ | 157,056 | $ | 195,300 | $ | 195,629 | |||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
30-Mar-14 | |||||||||||||||||||||||||
Less than 12 months | 12 months or greater | Total | |||||||||||||||||||||||
Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | ||||||||||||||||||||
U.S. government and agency securities | $ | 18,245 | $ | (39 | ) | $ | — | $ | — | $ | 18,245 | $ | (39 | ) | |||||||||||
Corporate bonds and securities | 48,379 | (87 | ) | 596 | (1 | ) | 48,975 | (88 | ) | ||||||||||||||||
Asset-backed securities | 7,118 | (12 | ) | 5,478 | (36 | ) | 12,596 | (48 | ) | ||||||||||||||||
Mortgage-backed securities | 19,682 | (120 | ) | 983 | (18 | ) | 20,665 | (138 | ) | ||||||||||||||||
Total | $ | 93,424 | $ | (258 | ) | $ | 7,057 | $ | (55 | ) | $ | 100,481 | $ | (313 | ) | ||||||||||
31-Mar-13 | |||||||||||||||||||||||||
Less than 12 months | 12 months or greater | Total | |||||||||||||||||||||||
Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | ||||||||||||||||||||
State and local government securities | $ | — | $ | — | $ | 404 | $ | (2 | ) | $ | 404 | $ | (2 | ) | |||||||||||
Corporate bonds and securities | 29,609 | (42 | ) | 497 | (3 | ) | 30,106 | (45 | ) | ||||||||||||||||
Asset-backed securities | 10,008 | (17 | ) | 1,241 | (10 | ) | 11,249 | (27 | ) | ||||||||||||||||
Mortgage-backed securities | 2,911 | (39 | ) | 3,263 | (65 | ) | 6,174 | (104 | ) | ||||||||||||||||
Total | $ | 42,528 | $ | (98 | ) | $ | 5,405 | $ | (80 | ) | $ | 47,933 | $ | (178 | ) |
Note_7_Related_Party_Transacti1
Note 7 - Related Party Transaction (Tables) | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Total Net Sales [Member] | ' | ||||||||||||
Note 7 - Related Party Transaction (Tables) [Line Items] | ' | ||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Alonim | 29 | % | 30 | % | 31 | % | |||||||
Net Accounts Receivable [Member] | ' | ||||||||||||
Note 7 - Related Party Transaction (Tables) [Line Items] | ' | ||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Alonim | 18 | % | 21 | % |
Note_8_Restructuring_Charges_a1
Note 8 - Restructuring Charges and Exit Costs (Tables) | 12 Months Ended | ||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||||||
Restructuring and Related Costs [Table Text Block] | ' | ||||||||||||||||||||
30-Mar-14 | |||||||||||||||||||||
Beginning | Additions/ | Non-cash charges | Payments | Ending balance | |||||||||||||||||
balance | adjustments | ||||||||||||||||||||
Lease termination and other costs | $ | 2,860 | $ | 570 | $ | (57 | ) | $ | (1,758 | ) | $ | 1,615 | |||||||||
Severance | 426 | 2,444 | — | (2,116 | ) | 754 | |||||||||||||||
Balance at March 30, 2014 | $ | 3,286 | $ | 3,014 | $ | (57 | ) | $ | (3,874 | ) | $ | 2,369 | |||||||||
31-Mar-13 | |||||||||||||||||||||
Beginning | Additions/ | Non-cash charges | Payments | Ending balance | |||||||||||||||||
balance | adjustments | ||||||||||||||||||||
Lease termination costs and others | $ | 5,235 | $ | 6 | $ | (56 | ) | $ | (2,325 | ) | $ | 2,860 | |||||||||
Severance | 2,806 | 1,548 | — | (3,928 | ) | 426 | |||||||||||||||
Balance at March 31, 2013 | $ | 8,041 | $ | 1,554 | $ | (56 | ) | $ | (6,253 | ) | $ | 3,286 |
Note_9_LongTerm_Investment_Tab
Note 9 - Long-Term Investment (Tables) | 12 Months Ended | ||||||||
Mar. 30, 2014 | |||||||||
Investments Schedule [Abstract] | ' | ||||||||
Investment Holdings, Schedule of Investments [Table Text Block] | ' | ||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Beginning balance | $ | 1,288 | $ | 1,273 | |||||
Contributions | — | 15 | |||||||
Net distributions | (19 | ) | — | ||||||
Impairment charges | (323 | ) | — | ||||||
Ending balance | $ | 946 | $ | 1,288 |
Note_10_Goodwill_and_Intangibl1
Note 10 - Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||||||
Beginning balance | $ | 10,356 | $ | 3,184 | |||||||||||||||||||||||||
Goodwill additions | 20,054 | 7,172 | |||||||||||||||||||||||||||
Ending balance | $ | 30,410 | $ | 10,356 | |||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||||||
Carrying | Impair- | Accumulated | Net Carrying | Carrying | Accumulated | Net Carrying | |||||||||||||||||||||||
Amount | ment | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||||||
Amortized intangible assets: | |||||||||||||||||||||||||||||
Existing technology | $ | 64,678 | $ | (1,635 | ) | $ | (37,510 | ) | $ | 25,533 | $ | 42,858 | $ | (30,668 | ) | $ | 12,190 | ||||||||||||
Customer relationships | 6,095 | — | (2,762 | ) | 3,333 | 2,905 | (2,079 | ) | 826 | ||||||||||||||||||||
Patents/Core technology | 3,459 | — | (3,378 | ) | 81 | 3,459 | (3,182 | ) | 277 | ||||||||||||||||||||
Distributor relationships | 1,264 | — | (1,260 | ) | 4 | 1,264 | (1,219 | ) | 45 | ||||||||||||||||||||
Tradenames | 210 | — | (51 | ) | 159 | — | — | — | |||||||||||||||||||||
Total intangible assets subject to amortization | 75,706 | (1,635 | ) | (44,961 | ) | 29,110 | 50,486 | (37,148 | ) | 13,338 | |||||||||||||||||||
In-process research and development | 2,280 | — | — | 2,280 | — | — | — | ||||||||||||||||||||||
Total | $ | 77,986 | $ | (1,635 | ) | $ | (44,961 | ) | $ | 31,390 | $ | 50,486 | $ | (37,148 | ) | $ | 13,338 | ||||||||||||
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | ' | ||||||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Amortization expense | $ | 7,813 | $ | 4,150 | $ | 6,700 | |||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||||||||||||||||||||
Amortization Expense (by fiscal year) | |||||||||||||||||||||||||||||
2015 | $ | 6,159 | |||||||||||||||||||||||||||
2016 | 5,578 | ||||||||||||||||||||||||||||
2017 | 4,645 | ||||||||||||||||||||||||||||
2018 | 4,432 | ||||||||||||||||||||||||||||
2019 | 3,231 | ||||||||||||||||||||||||||||
2020 and thereafter | 5,065 | ||||||||||||||||||||||||||||
Total future amortization excluding IPR&D | $ | 29,110 |
Note_11_Net_Income_Loss_Per_Sh1
Note 11 - Net Income (Loss) Per Share (Tables) | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Net income (loss) | $ | 5,801 | $ | 2,882 | $ | (28,056 | ) | ||||||
Shares used in computation of net income (loss) per share: | |||||||||||||
Basic | 47,291 | 45,809 | 44,796 | ||||||||||
Effect of options and awards | 1,532 | 667 | — | ||||||||||
Diluted | 48,823 | 46,476 | 44,796 | ||||||||||
Net income (loss) per share: | |||||||||||||
Basic | $ | 0.12 | $ | 0.06 | $ | (0.63 | ) | ||||||
Diluted | $ | 0.12 | $ | 0.06 | $ | (0.63 | ) |
Note_12_Common_Stock_Repurchas1
Note 12 - Common Stock Repurchases (Tables) | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | ||||||||||||
Total number of Shares Purchased | Average Price Paid Per Share | Amount Paid for Purchase | |||||||||||
(or Unit) | |||||||||||||
Balances, April 1, 2012 | 9,564 | $ | 9.22 | $ | 88,189 | ||||||||
Repurchases | — | $ | — | — | |||||||||
Balances, March 31, 2013 | 9,564 | $ | 9.22 | $ | 88,189 | ||||||||
Repurchases | 755 | $ | 11.92 | 9,000 | |||||||||
Balances, March 30, 2014 | 10,319 | $ | 9.42 | $ | 97,189 |
Note_13_Employee_Benefit_Plans1
Note 13 - Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||
Schedule Of Matching Contributions [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Matching contributions | $ | 373 | $ | 267 | $ | 294 | |||||||
Schedule Of Paid And Unpaid Incentive Compensation [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Unpaid incentive compensation | $ | 698 | $ | 781 | $ | — |
Note_14_StockBased_Compensatio1
Note 14 - Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||
Note 14 - Stock-Based Compensation (Tables) [Line Items] | ' | ||||||||||||||||||||||||
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block] | ' | ||||||||||||||||||||||||
Shares of | Weighted | ||||||||||||||||||||||||
Common Stock | Average | ||||||||||||||||||||||||
Price per Share | |||||||||||||||||||||||||
Authorized to issue: | 4,500 | $ | — | ||||||||||||||||||||||
Reserved for future issuance: | |||||||||||||||||||||||||
Fiscal year ending March 30, 2014 | 1,372 | — | |||||||||||||||||||||||
Fiscal year ending March 31, 2013 | 1,392 | — | |||||||||||||||||||||||
Fiscal year ending April 1, 2012 | 1,418 | — | |||||||||||||||||||||||
Issued: | |||||||||||||||||||||||||
Fiscal year ending March 30, 2014 | 20 | 11.38 | |||||||||||||||||||||||
Fiscal year ending March 31, 2013 | 26 | 8.38 | |||||||||||||||||||||||
Fiscal year ending April 1, 2012 | 62 | 6.09 | |||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||||||||
Outstanding | Weighted | Weighted | Aggregate | In-the-money | |||||||||||||||||||||
Options / | Average | Average | Intrinsic | Options | |||||||||||||||||||||
Quantity | Exercise | Remaining | Value | Vested and | |||||||||||||||||||||
Price per | Contractual | (in thousands) | Exercisable | ||||||||||||||||||||||
Share | Term | (in thousands) | |||||||||||||||||||||||
(in years) | |||||||||||||||||||||||||
Balance at March 27, 2011 | 5,729,464 | $ | 7.61 | 4.74 | $ | 147 | 103 | ||||||||||||||||||
Granted | 3,100,595 | 6.33 | |||||||||||||||||||||||
Exercised | (422,749 | ) | 6.54 | ||||||||||||||||||||||
Cancelled | (526,574 | ) | 8.15 | ||||||||||||||||||||||
Forfeited | (1,535,429 | ) | 6.7 | ||||||||||||||||||||||
Balance at April 1, 2012 | 6,345,307 | $ | 7.23 | 4.67 | $ | 9,474 | 1,193 | ||||||||||||||||||
Granted | 2,540,010 | 8.32 | |||||||||||||||||||||||
Exercised | (875,459 | ) | 6.92 | ||||||||||||||||||||||
Cancelled | (903,781 | ) | 9.67 | ||||||||||||||||||||||
Forfeited | (893,744 | ) | 6.41 | ||||||||||||||||||||||
Balance at March 31, 2013 | 6,212,333 | $ | 7.48 | 5.04 | $ | 19,199 | 1,481 | ||||||||||||||||||
Granted | 2,482,650 | 11.89 | |||||||||||||||||||||||
Exercised | (784,864 | ) | 7.14 | ||||||||||||||||||||||
Cancelled | (10,834 | ) | 10.92 | ||||||||||||||||||||||
Forfeited | (685,437 | ) | 8.02 | ||||||||||||||||||||||
Balance at March 30, 2014 | 7,213,848 | $ | 8.98 | 5.02 | $ | 21,301 | 2,170 | ||||||||||||||||||
Vested and expected to vest, March 30, 2014 | 6,740,358 | $ | 8.88 | 4.94 | $ | 20,539 | |||||||||||||||||||
Vested and exercisable, March 30, 2014 | 2,369,001 | $ | 7.54 | 3.55 | $ | 10,114 | |||||||||||||||||||
Schedule of Cash Proceeds Received from Share-based Payment Awards [Table Text Block] | ' | ||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Intrinsic value of options exercised | $ | 3,887 | $ | 1,443 | $ | 79 | |||||||||||||||||||
Cash received related to option exercises | 9,493 | 6,059 | 2,763 | ||||||||||||||||||||||
Tax benefit recorded | 6,669 | 1,927 | 1,761 | ||||||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||||||||||||||
Shares | Weighted | Weighted | Aggregate | ||||||||||||||||||||||
Average | Average | Intrinsic | |||||||||||||||||||||||
Grant-Date | Remaining | Value | |||||||||||||||||||||||
Fair Value | Contractual | (in thousands) | |||||||||||||||||||||||
Term | |||||||||||||||||||||||||
(in years) | |||||||||||||||||||||||||
Unvested at March 27, 2011 | 557,098 | $ | 7.17 | 1.09 | $ | 3,387 | |||||||||||||||||||
Granted | 481,650 | 7.12 | |||||||||||||||||||||||
Issued and released | (271,830 | ) | 7.25 | ||||||||||||||||||||||
Forfeited | (162,263 | ) | 7.25 | ||||||||||||||||||||||
Unvested at April 1, 2012 | 604,655 | $ | 7.13 | 2.38 | $ | 5,079 | |||||||||||||||||||
Granted | 331,894 | 8.4 | |||||||||||||||||||||||
Issued and released | (125,095 | ) | 7.1 | ||||||||||||||||||||||
Forfeited | (79,250 | ) | 6.96 | ||||||||||||||||||||||
Unvested at March 31, 2013 | 732,204 | $ | 7.73 | 1.72 | $ | 7,688 | |||||||||||||||||||
Granted | 828,995 | 13.06 | |||||||||||||||||||||||
Issued and released | (346,407 | ) | 9.38 | ||||||||||||||||||||||
Forfeited | (37,666 | ) | 9.52 | ||||||||||||||||||||||
Unvested at March 30, 2014 | 1,177,126 | $ | 10.94 | 1.62 | $ | 13,784 | |||||||||||||||||||
Vested and expected to vest, March 30, 2014 | 1,018,609 | 1.58 | $ | 11,928 | |||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Expected term of options (years) | 4.40 – 4.49 | 4.36 | 4.3 | ||||||||||||||||||||||
Risk-free interest rate | 0.6 – 1.1 | % | 0.5 – 0.6 | % | 0.7 – 1.5 | % | |||||||||||||||||||
Expected volatility | 32 - 35 | % | 37 - 42 | % | 41 - 43 | % | |||||||||||||||||||
Expected dividend yield | — | — | — | ||||||||||||||||||||||
Weighted average grant date fair value | $ | 3.4 | $ | 2.8 | $ | 2.22 | |||||||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | ||||||||||||||||||||||||
March 30, | March 31, | April 1, | |||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Cost of sales | $ | 714 | $ | 469 | $ | 301 | |||||||||||||||||||
Research and development | 1,974 | 789 | 1,239 | ||||||||||||||||||||||
Selling, general and administrative | 6,164 | 3,530 | 2,210 | ||||||||||||||||||||||
Total stock-based compensation expense | $ | 8,852 | $ | 4,788 | $ | 3,750 | |||||||||||||||||||
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | ' | ||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 1-Apr-12 | |||||||||||||||||||||||
Amount | Weighted | Amount | Weighted | Amount | Weighted | ||||||||||||||||||||
(in thousands) | Average | (in thousands) | Average | (in thousands) | Average | ||||||||||||||||||||
Remaining Recognition | Remaining Recognition | Remaining Recognition | |||||||||||||||||||||||
Period | Period | Period | |||||||||||||||||||||||
(in years) | (in years) | (in years) | |||||||||||||||||||||||
Options | $ | 9,958 | 2.7 | $ | 6,269 | 2.8 | $ | 7,356 | 2.8 | ||||||||||||||||
Performance Options | 242 | 2.2 | 502 | 2.6 | 763 | 3.5 | |||||||||||||||||||
RSUs | 5,970 | 2.2 | 1,557 | 2.5 | 1,185 | 3.2 | |||||||||||||||||||
PRSUs | 3,047 | 2.5 | 1,814 | 3.4 | 2,352 | 4.1 | |||||||||||||||||||
Total Stock-based compensation expense | $ | 19,217 | $ | 10,142 | $ | 11,656 | |||||||||||||||||||
Employee Stock Option [Member] | ' | ||||||||||||||||||||||||
Note 14 - Stock-Based Compensation (Tables) [Line Items] | ' | ||||||||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Range of | Number | Weighted | Weighted | Number | Weighted | ||||||||||||||||||||
Exercise Prices | Outstanding | Average | Average | Exercisable | Average | ||||||||||||||||||||
As of | Remaining | Exercise | As of | Exercise | |||||||||||||||||||||
March 30, | Contractual | Price per Share | March 30, | Price per Share | |||||||||||||||||||||
2014 | Terms | 2014 | |||||||||||||||||||||||
(in years) | |||||||||||||||||||||||||
$5.44 | – | $6.43 | 2,010,296 | 4 | $ | 6.27 | 1,184,735 | $ | 6.25 | ||||||||||||||||
6.6 | – | 8.07 | 1,577,634 | 4.34 | 7.62 | 597,423 | 7.46 | ||||||||||||||||||
8.16 | – | 10.8 | 1,764,751 | 5.45 | 9.56 | 387,376 | 8.9 | ||||||||||||||||||
11.23 | – | 13.36 | 1,451,567 | 6.39 | 12.22 | 136,867 | 12.32 | ||||||||||||||||||
13.54 | – | 15.67 | 409,600 | 6.02 | 13.59 | 62,600 | 13.84 | ||||||||||||||||||
Total | 7,213,848 | 5.02 | $ | 8.98 | 2,369,001 | $ | 7.54 |
Note_15_Lease_Financing_Obliga1
Note 15 - Lease Financing Obligation (Tables) | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||
Schedule Of Amortization Expense [Table Text Block] | ' | ||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Amortization expense | $ | 3,294 | $ | 3,523 | $ | 3,706 | |||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||||||||||
Fiscal Years | Design tools | ||||||||||||
2015 | $ | 2,741 | |||||||||||
2016 | 59 | ||||||||||||
2017 | 10 | ||||||||||||
2018 | 7 | ||||||||||||
Total minimum lease payments | 2,817 | ||||||||||||
Less: amount representing interest | 76 | ||||||||||||
Present value of future minimum lease payments | 2,741 | ||||||||||||
Less: short-term lease financing obligations | 2,671 | ||||||||||||
Long-term lease financing obligations | $ | 70 | |||||||||||
Schedule of Interest Expense [Table Text Block] | ' | ||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Interest expense – design tools | $ | 155 | $ | 143 | $ | 210 | |||||||
Schedule of Rent Expense [Table Text Block] | ' | ||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Rent expense | $ | 1,289 | $ | 616 | $ | 2,121 | |||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||||||||||
Fiscal Years | Facilities | ||||||||||||
2015 | $ | 688 | |||||||||||
2016 | 463 | ||||||||||||
2017 | 152 | ||||||||||||
2018 | 21 | ||||||||||||
Total future minimum lease payments | $ | 1,324 |
Note_16_Commitments_and_Contin1
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Mar. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of Remediation Liabilities [Table Text Block] | ' | ||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Liabilities for remediation activities | $ | 28 | $ | 76 | |||||
Schedule of Product Warranty Liability [Table Text Block] | ' | ||||||||
March 30, | March 31, | ||||||||
2014 | 2013 | ||||||||
Beginning balance | $ | 50 | $ | 90 | |||||
Provisions for warranties issued | 1,480 | ─ | |||||||
Settlements/adjustments | (456 | ) | (40 | ) | |||||
Ending balance | $ | 1,074 | $ | 50 |
Note_18_Income_Taxes_Tables
Note 18 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | (1,350 | ) | $ | (1,255 | ) | $ | 110 | |||||
State | (93 | ) | (73 | ) | (235 | ) | |||||||
Foreign | (81 | ) | 114 | 218 | |||||||||
Total current | $ | (1,524 | ) | $ | (1,214 | ) | $ | 93 | |||||
Deferred: | |||||||||||||
Federal | $ | (6,807 | ) | $ | 23 | $ | (39 | ) | |||||
State | (147 | ) | 2 | (3 | ) | ||||||||
Total deferred | $ | (6,954 | ) | $ | 25 | $ | (42 | ) | |||||
Total provision for (benefit from) income taxes | $ | (8,478 | ) | $ | (1,189 | ) | $ | 51 | |||||
Schedule Of Foreign Income Included In Pre-Tax Income [Table Text Block] | ' | ||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Foreign income/(loss) | $ | (307 | ) | $ | — | $ | 1,243 | ||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Reserves and expenses not currently deductible | $ | 7,973 | $ | 8,049 | |||||||||
Net operating loss carryforwards | 123,826 | 124,662 | |||||||||||
Tax credits | 27,259 | 29,109 | |||||||||||
Losses on investments | 1,832 | 2,110 | |||||||||||
Unrealized investment gain | 80 | - | |||||||||||
Intangible assets | 6,838 | 6,225 | |||||||||||
Deferred margin | 3,968 | 4,158 | |||||||||||
Depreciation | 642 | 604 | |||||||||||
Total deferred tax assets | 172,418 | 174,917 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Unrealized investment loss | — | (116 | ) | ||||||||||
Non-goodwill intangibles | (6,560 | ) | (930 | ) | |||||||||
Total deferred tax liabilities | (6,560 | ) | (1,046 | ) | |||||||||
Valuation allowance | (165,924 | ) | (173,927 | ) | |||||||||
Net deferred tax liabilities | $ | (66 | ) | $ | (56 | ) | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Income tax benefit at statutory rate | $ | (937 | ) | $ | 593 | $ | (10,061 | ) | |||||
State income taxes, net of federal tax benefit | (1 | ) | 60 | (824 | ) | ||||||||
Deferred tax assets not benefited | (1,972 | ) | (378 | ) | 11,967 | ||||||||
Tax credits | (757 | ) | (539 | ) | (1,021 | ) | |||||||
Stock-based compensation | (427 | ) | 258 | 432 | |||||||||
Foreign rate differential | 156 | 148 | (373 | ) | |||||||||
Prior year tax expense true-up | (10 | ) | 11 | 12 | |||||||||
Fair value adjustment | (3,732 | ) | - | - | |||||||||
Other, net | (798 | ) | (1,342 | ) | (81 | ) | |||||||
Provision for (benefit from) income taxes | $ | (8,478 | ) | $ | (1,189 | ) | $ | 51 | |||||
Summary of Operating Loss Carryforwards [Table Text Block] | ' | ||||||||||||
Federal net operating loss carryforwards | $ | 325,333 | |||||||||||
State net operating loss carryforwards | $ | 118,149 | |||||||||||
Canada net operating loss carryforwards | $ | 27,064 | |||||||||||
Summary of Tax Credit Carryforwards [Table Text Block] | ' | ||||||||||||
Federal tax credit carryforwards | $ | 9,618 | |||||||||||
State tax credit carryforwards | $ | 19,186 | |||||||||||
Canada tax credit carryforwards | $ | 5,135 | |||||||||||
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] | ' | ||||||||||||
Amount | |||||||||||||
Unrecognized tax benefits as of March 27, 2011 | $ | 16,714 | |||||||||||
Gross decrease related to prior year tax positions | (289 | ) | |||||||||||
Gross increase related to current year tax positions | 578 | ||||||||||||
Lapses in statute of limitation | (183 | ) | |||||||||||
Unrecognized tax benefits as of April 1, 2012 | 16,820 | ||||||||||||
Gross decrease related to prior year tax positions | (271 | ) | |||||||||||
Gross increase related to current year tax positions | 292 | ||||||||||||
Lapses in statute of limitation | (1,376 | ) | |||||||||||
Unrecognized tax benefits as of March 31, 2013 | 15,465 | ||||||||||||
Gross increase related to prior year tax positions | 92 | ||||||||||||
Gross increase related to current year tax positions | 487 | ||||||||||||
Lapses in statute of limitation | (1,880 | ) | |||||||||||
Unrecognized tax benefits as of March 30, 2014 | $ | 14,164 | |||||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Unrecognized gross tax benefits | $ | 14,164 | $ | 15,465 | |||||||||
Less: amount used to reduce deferred tax assets | 13,370 | 13,240 | |||||||||||
Net income tax payable(1) | $ | 794 | $ | 2,225 | |||||||||
Schedule Of Interest And Penalty Related To Underpayment Of Tax [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Accrued interest and penalties | $ | 83 | $ | 228 |
Note_19_Segment_and_Geographic1
Note 19 - Segment and Geographic Information (Tables) | 12 Months Ended | ||||||||||||
Mar. 30, 2014 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Industrial & Embedded Systems | $ | 72,458 | $ | 63,396 | $ | 66,602 | |||||||
Networking & Storage | 30,594 | 32,737 | 27,005 | ||||||||||
Communications Infrastructure | 21,808 | 24,965 | 35,829 | ||||||||||
Other | 462 | 928 | 1,130 | ||||||||||
Total net sales | $ | 125,322 | $ | 122,026 | $ | 130,566 | |||||||
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | ' | ||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
China | $ | 43,537 | $ | 41,118 | $ | 44,035 | |||||||
United States | 37,079 | 32,322 | 33,585 | ||||||||||
Singapore | 13,397 | 13,827 | 13,883 | ||||||||||
Germany | 11,270 | 11,692 | 13,671 | ||||||||||
Japan | 6,393 | 5,685 | 6,161 | ||||||||||
Europe (excluding Germany) | 3,999 | 4,765 | 5,628 | ||||||||||
Rest of world | 9,647 | 12,617 | 13,603 | ||||||||||
Total net sales | $ | 125,322 | $ | 122,026 | $ | 130,566 | |||||||
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | ' | ||||||||||||
Fiscal Years Ended | |||||||||||||
March 30, | March 31, | April 1, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Distributor A | 27 | % | 30 | % | 31 | % | |||||||
Distributor B | 21 | % | 11 | % | 11 | % | |||||||
Distributor C | 12 | % | 10 | % | * | % | |||||||
Schedule Of Major Distributors [Table Text Block] | ' | ||||||||||||
March 30, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Distributor B | 17 | % | 20 | % | |||||||||
Distributor A | 16 | % | 21 | % | |||||||||
Distributor D | 14 | % | 11 | % | |||||||||
Distributor C | 12 | % | * |
Note_20_Allowances_for_Sales_R1
Note 20 - Allowances for Sales Returns and Doubtful Accounts (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||
Classification | Balance | Additions | Utilizations (1) | Balance | |||||||||||||
at Beginning | at End | ||||||||||||||||
of Year | of Year | ||||||||||||||||
Allowance for sales returns: | |||||||||||||||||
Year ended March 30, 2014 | $ | 1,084 | $ | 17,004 | $ | 16,414 | $ | 1,674 | |||||||||
Year ended March 31, 2013 | 1,429 | $ | 15,176 | $ | 15,521 | $ | 1,084 | ||||||||||
Year ended April 1, 2012 | 1,245 | 15,701 | 15,517 | 1,429 | |||||||||||||
Allowance for doubtful accounts: | |||||||||||||||||
Year ended March 30, 2014 | 206 | (25 | ) | 70 | 111 | ||||||||||||
Year ended March 31, 2013 | 167 | 39 | — | 206 | |||||||||||||
Year ended April 1, 2012 | 278 | 69 | 180 | 167 |
Note_21_Supplementary_Quarterl1
Note 21 - Supplementary Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Fiscal Year 2014 | Fiscal Year 2013 | ||||||||||||||||||||||||||||||||
Classification | Mar. 30, | Dec. 29, | Sep. 29, | Jun. 30, 2013 | Mar. 31, | Dec. 30, | Sep. 30, | Jul. 1, 2012 | |||||||||||||||||||||||||
2014 | 2013 | 2013 | 2013 | 2012 | 2012 | ||||||||||||||||||||||||||||
Consolidated Statement of Operations Data: | |||||||||||||||||||||||||||||||||
Net sales by end market: | |||||||||||||||||||||||||||||||||
Industrial & Embedded Systems | $ | 19,588 | $ | 18,429 | $ | 17,943 | $ | 16,498 | $ | 15,265 | $ | 16,119 | $ | 15,923 | $ | 16,088 | |||||||||||||||||
Networking & Storage | 3,310 | 7,104 | 10,273 | 9,907 | 9,346 | 9,300 | 7,656 | 6,435 | |||||||||||||||||||||||||
Communications Infrastructure | 5,046 | 5,089 | 5,697 | 5,976 | 6,231 | 5,270 | 6,737 | 6,728 | |||||||||||||||||||||||||
Other | 43 | 68 | 105 | 246 | 312 | 310 | 306 | — | |||||||||||||||||||||||||
Net sales | $ | 27,987 | $ | 30,690 | $ | 34,018 | $ | 32,627 | $ | 31,154 | $ | 30,999 | $ | 30,622 | $ | 29,251 | |||||||||||||||||
Gross profit | 8,422 | 12,826 | 13,929 | 15,477 | 15,296 | 14,192 | 13,330 | 12,869 | |||||||||||||||||||||||||
Income (loss) from operations | (311 | ) | (3,321 | ) | (616 | ) | 547 | 1,309 | (353 | ) | (373 | ) | (1,166 | ) | |||||||||||||||||||
Net income (loss) | 147 | (1,634 | ) | 6,482 | 806 | 1,672 | 1,523 | 263 | (576 | ) | |||||||||||||||||||||||
Net income (loss) per share: | |||||||||||||||||||||||||||||||||
Basic | $ | 0 | $ | (0.03 | ) | $ | 0.14 | $ | 0.02 | $ | 0.04 | $ | 0.03 | $ | 0.01 | $ | (0.01 | ) | |||||||||||||||
Diluted | $ | 0 | $ | (0.03 | ) | $ | 0.13 | $ | 0.02 | $ | 0.04 | $ | 0.03 | $ | 0.01 | $ | (0.01 | ) | |||||||||||||||
Shares used in the computation of net income (loss) per share: | |||||||||||||||||||||||||||||||||
Basic | 47,328 | 47,529 | 47,496 | 46,805 | 46,219 | 45,925 | 45,720 | 45,388 | |||||||||||||||||||||||||
Diluted | 48,778 | 47,529 | 49,150 | 48,085 | 47,379 | 46,438 | 46,046 | 45,388 |
Note_2_Revision_of_Prior_Perio1
Note 2 - Revision of Prior Period Financial Statements (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 30, 2014 | Dec. 29, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |
Note 2 - Revision of Prior Period Financial Statements (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Paid in Capital | $508,116,000 | ' | ' | ' | $749,426,000 | ' | ' | ' | $508,116,000 | $749,426,000 | ' |
Retained Earnings (Accumulated Deficit) | -253,667,000 | ' | ' | ' | -259,468,000 | ' | ' | ' | -253,667,000 | -259,468,000 | ' |
Net Income (Loss) Attributable to Parent | 147,000 | -1,634,000 | 6,482,000 | 806,000 | 1,672,000 | 1,523,000 | 263,000 | -576,000 | 5,801,000 | 2,882,000 | -28,056,000 |
Restatement Adjustment [Member] | Accounting For Stock-Based Compensation [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 2 - Revision of Prior Period Financial Statements (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Paid in Capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -741,000 |
Retained Earnings (Accumulated Deficit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -741,000 |
Net Income (Loss) Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $741,000 |
Note_3_Accounting_Policies_Det
Note 3 - Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |
Note 3 - Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Reportable Segments | 1 | ' | ' |
Purchase Return Percentage | 1.00% | ' | ' |
Capitalized Mask Costs | $2,300,000 | $1,700,000 | ' |
Research and Development Arrangement with Federal Government, Customer Funding to Offset Costs Incurred | 1,500,000 | 2,000,000 | 4 |
Business Combination, Contingent Consideration, Liability | $4,300,000 | $10,100,000 | ' |
Machinery and Equipment [Member] | Minimum [Member] | ' | ' | ' |
Note 3 - Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' | ' |
Machinery and Equipment [Member] | Maximum [Member] | ' | ' | ' |
Note 3 - Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '10 years | ' | ' |
Building [Member] | ' | ' | ' |
Note 3 - Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '30 years | ' | ' |
Capitalized Mask Costs [Member] | ' | ' | ' |
Note 3 - Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Note 3 - Accounting Policies (Details) [Line Items] | ' | ' | ' |
Purchase Return Percentage | 5.00% | ' | ' |
Maximum [Member] | ' | ' | ' |
Note 3 - Accounting Policies (Details) [Line Items] | ' | ' | ' |
Purchase Return Percentage | 6.00% | ' | ' |
Note_3_Accounting_Policies_Det1
Note 3 - Accounting Policies (Details) - Deferred Income (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Income [Abstract] | ' | ' |
Deferred revenue at published list price | $15,871 | $18,652 |
Deferred cost of revenue | -4,757 | -6,778 |
Deferred income | $11,114 | $11,874 |
Note_4_Business_Combinations_D
Note 4 - Business Combinations (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||
Dec. 29, 2013 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Jan. 14, 2014 | Jul. 05, 2013 | Mar. 22, 2013 | Jul. 05, 2013 | Mar. 22, 2013 | Jan. 14, 2014 | Mar. 30, 2014 | Jul. 05, 2013 | Mar. 30, 2014 | Dec. 29, 2013 | Mar. 30, 2014 | Mar. 22, 2013 | Mar. 31, 2013 | Jan. 14, 2014 | Jul. 05, 2013 | Mar. 22, 2013 | Jan. 14, 2014 | Jul. 05, 2013 | Mar. 22, 2013 | |
Prior to Considering Impact on Deferred Tax Assets and Liabilities [Member] | Prior to Considering Impact on Deferred Tax Assets and Liabilities [Member] | Prior to Considering Impact on Deferred Tax Assets and Liabilities [Member] | Potential Indemnity Claims [Member] | Potential Indemnity Claims [Member] | Stretch [Member] | Stretch [Member] | Cadeka [Member] | Cadeka [Member] | Cadeka [Member] | Cadeka [Member] | Altior [Member] | Altior [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||||
Stretch [Member] | Cadeka [Member] | Altior [Member] | Cadeka [Member] | Altior [Member] | Stretch [Member] | Cadeka [Member] | Altior [Member] | Stretch [Member] | Cadeka [Member] | Altior [Member] | |||||||||||||
Note 4 - Business Combinations (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | ' | ($1,000,000) | ($250,000) | $10,000 | ' | $25,000,000 | ' | ' | ' | $1,000,000 | ' | ' | ' | ' | ' | ' | ' |
Acquired Intangible Assets Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.00% | 15.00% | 12.00% | 21.00% | 23.00% | 19.00% |
Goodwill, Acquired During Period | ' | ' | ' | ' | 700,000 | 12,400,000 | 7,200,000 | ' | ' | ' | 700,000 | 19,200,000 | ' | ' | 19,400,000 | ' | 7,200,000 | ' | ' | ' | ' | ' | ' |
Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Period (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 years | ' | ' | ' | ' | ' | '15 years | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquisition Related Costs | ' | 1,880,000 | 110,000 | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | ' | ' | ' | ' | ' | ' | ' | -15,000 | ' | ' | ' | 454,000 | ' | ' | ' | 358,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Potential Cash Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | 20,000,000 | ' | ' | 0 | 0 | ' | 5,000,000 | 20,000,000 |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,177,000 | ' | ' | ' | 3,740,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ($1,300,000) | ($8,478,000) | ($1,189,000) | $51,000 | ' | ' | ' | ' | ' | ' | ' | ' | ($170,000) | ($6,800,000) | ($6,800,000) | ' | ' | ' | ' | ' | ' | ' | ' |
Note_4_Business_Combinations_D1
Note 4 - Business Combinations (Details) - Fair Value Allocated to Tangible and Identifiable Intangible Assets (USD $) | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Jan. 14, 2014 | Jan. 14, 2014 | Jan. 14, 2014 | Jul. 05, 2013 | Jul. 05, 2013 | Jul. 05, 2013 | Jul. 05, 2013 | Jul. 05, 2013 | Mar. 22, 2013 |
In Thousands, unless otherwise specified | Stretch [Member] | Stretch [Member] | Stretch [Member] | Cadeka [Member] | Cadeka [Member] | Cadeka [Member] | Cadeka [Member] | Cadeka [Member] | Altior [Member] | |||
Developed Technology Rights [Member] | Customer Relationships [Member] | Developed Technology Rights [Member] | Customer Relationships [Member] | In Process Research and Development [Member] | Trade Names [Member] | |||||||
Identifiable tangible assets (liabilities) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | $344 | ' | ' | ' | ' | $1,055 | ' |
Accounts Receivable | ' | ' | ' | ' | ' | 143 | ' | ' | ' | ' | 241 | ' |
Inventories | ' | ' | ' | ' | ' | 2,154 | ' | ' | ' | ' | 1,756 | 126 |
Other current assets | ' | ' | ' | ' | ' | 267 | ' | ' | ' | ' | ' | ' |
Property, plant and equipment | ' | ' | ' | ' | ' | 18 | ' | ' | ' | ' | 231 | 140 |
Other assets | ' | ' | ' | ' | ' | 11 | ' | ' | ' | ' | 3 | 36 |
Debt assumed | ' | ' | ' | ' | ' | -6,186 | ' | ' | ' | ' | ' | ' |
Accounts payable and accruals | ' | ' | ' | ' | ' | -3,408 | ' | ' | ' | ' | -7,400 | -24 |
Other short-term liabilities | ' | ' | ' | ' | ' | -1,010 | ' | ' | ' | ' | -520 | -51 |
Long-term liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -296 | -61 |
Total identifiable tangible assets (liabilities), net | ' | ' | ' | ' | ' | -7,667 | ' | ' | ' | ' | -4,930 | 166 |
Identifiable intangible assets | ' | ' | ' | 5,990 | 1,020 | 7,010 | 15,720 | 2,170 | 2,280 | 210 | 20,380 | 7,540 |
Total identifiable assets, net | ' | ' | ' | ' | ' | -657 | ' | ' | ' | ' | 15,450 | 7,706 |
Goodwill | 30,410 | 10,356 | 3,184 | ' | ' | 667 | ' | ' | ' | ' | 19,387 | 7,172 |
Fair value of total consideration transferred | ' | ' | ' | ' | ' | $10 | ' | ' | ' | ' | $34,837 | $14,878 |
Note_4_Business_Combinations_D2
Note 4 - Business Combinations (Details) - Unaudited Pro Forma Condensed Financial Information (Stretch [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 30, 2014 |
Stretch [Member] | ' |
Note 4 - Business Combinations (Details) - Unaudited Pro Forma Condensed Financial Information [Line Items] | ' |
Net sales | $134,290 |
Note_4_Business_Combinations_D3
Note 4 - Business Combinations (Details) - Summary of Consideration Paid (USD $) | 0 Months Ended | 1 Months Ended |
Jul. 05, 2013 | Mar. 22, 2013 | |
Cadeka [Member] | Altior [Member] | |
Note 4 - Business Combinations (Details) - Summary of Consideration Paid [Line Items] | ' | ' |
Cash | $25,000,000 | $1,000,000 |
Equity instruments | 5,177,000 | 3,740,000 |
Estimated fair value of earn-out payments | 4,660,000 | 10,138,000 |
Total consideration paid | $34,837,000 | $14,878,000 |
Note_5_Balance_Sheet_Details_D
Note 5 - Balance Sheet Details (Details) (USD $) | 12 Months Ended | |||||
Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Dec. 31, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | |
Note 5 - Balance Sheet Details (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Write-off Of Fully Depreciated Assets | $4,100,000 | ' | ' | ' | ' | ' |
Depreciation, Depletion and Amortization | 12,947,000 | 10,809,000 | 14,898,000 | ' | ' | ' |
Overstatement of Current Assets and Understatement of Long-lived Assets | ' | ' | ' | 13,100,000 | 13,100,000 | 13,100,000 |
Property, Plant and Equipment [Member] | ' | ' | ' | ' | ' | ' |
Note 5 - Balance Sheet Details (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Depreciation, Depletion and Amortization | $5,600,000 | $6,800,000 | $8,100,000 | ' | ' | ' |
Note_5_Balance_Sheet_Details_D1
Note 5 - Balance Sheet Details (Details) - Property, Plant and Equipment (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Land | $6,660 | $6,660 |
Building | 16,787 | 16,224 |
Machinery and equipment | 40,675 | 42,258 |
Software and licenses | 17,549 | 17,566 |
Property, plant and equipment, total | 81,671 | 82,708 |
Accumulated depreciation and amortization | -60,391 | -58,608 |
Total property, plant and equipment, net | $21,280 | $24,100 |
Note_5_Balance_Sheet_Details_D2
Note 5 - Balance Sheet Details (Details) - Inventories (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Work-in-progress and raw materials | $13,555 | $9,981 |
Finished goods | 15,427 | 9,449 |
Total inventories | $28,982 | $19,430 |
Note_5_Balance_Sheet_Details_D3
Note 5 - Balance Sheet Details (Details) - Other Current Liabilities (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Current Liabilities [Abstract] | ' | ' |
Short-term lease financing obligations | $2,671 | $3,189 |
Accrued restructuring charges and exit costs | 2,214 | 2,020 |
Accrued manufacturing expenses, royalties and licenses | 1,639 | 2,370 |
Accrued legal and professional services | 1,453 | 746 |
Purchase consideration holdback | 1,256 | ' |
Accrued sales and marketing expenses | 666 | 576 |
Fair value of earn out liability – short-term | 490 | 2,599 |
Accrual for dispute resolution | ' | 2,727 |
Other | 981 | 988 |
Total other current liabilities | $11,370 | $15,215 |
Note_5_Balance_Sheet_Details_D4
Note 5 - Balance Sheet Details (Details) - Other Noncurrent Obligations (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Noncurrent Obligations [Abstract] | ' | ' |
Fair value of earn out liability – long-term | $3,853 | $7,539 |
Accrued retention bonus | 1,181 | ' |
Long-term taxes payable | 794 | 2,225 |
Deferred tax liability | 614 | 145 |
Accrued restructuring charges and exit costs | 155 | 1,266 |
Other | 29 | 29 |
Total other non-current obligations | $6,626 | $11,204 |
Note_6_Fair_Value_Details
Note 6 - Fair Value (Details) (USD $) | 12 Months Ended | |
Mar. 30, 2014 | Mar. 31, 2013 | |
Note 6 - Fair Value (Details) [Line Items] | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | $828,000 | $828,000 |
Available For Sale Securities Unrealized Losses Net Of Tax | 1,100,000 | ' |
Cadeka [Member] | ' | ' |
Note 6 - Fair Value (Details) [Line Items] | ' | ' |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Asset | -7,200,000 | ' |
Altior [Member] | ' | ' |
Note 6 - Fair Value (Details) [Line Items] | ' | ' |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Asset | ($3,300,000) | ' |
Note_6_Fair_Value_Details_Inve
Note 6 - Fair Value (Details) - Investment Assets Measured at Fair Value (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Investment assets fair value | $157,056 | $195,629 |
Liabilities: | ' | ' |
Acquisition-related contingent consideration fair value | 4,343 | ' |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 9,378 | 22,460 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 13,134 | 19,261 |
US Government Agencies Debt Securities [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 22,512 | 41,721 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 2,772 | 2,935 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 2,772 | 2,935 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 5 | 274 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 71,248 | 91,955 |
Corporate Debt Securities [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 71,253 | 92,229 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 27,635 | 30,966 |
Asset-backed Securities [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 27,635 | 30,966 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 28,248 | 22,736 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 28,248 | 22,736 |
Altior [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Acquisition-related contingent consideration fair value | 2,973 | 10,138 |
Altior [Member] | ' | ' |
Liabilities: | ' | ' |
Acquisition-related contingent consideration fair value | 2,973 | 10,138 |
Cadeka [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Acquisition-related contingent consideration fair value | 1,370 | ' |
Cadeka [Member] | ' | ' |
Liabilities: | ' | ' |
Acquisition-related contingent consideration fair value | 1,370 | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 14,019 | 27,776 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 4,636 | 5,042 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | 143,037 | 167,853 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Acquisition-related contingent consideration fair value | 4,343 | ' |
Money Market Funds [Member] | ' | ' |
Assets: | ' | ' |
Investment assets fair value | $4,636 | $5,042 |
Note_6_Fair_Value_Details_Fair
Note 6 - Fair Value (Details) - Fair Value Inputs, Assets, Quantitative Information (USD $) | Mar. 30, 2014 | Mar. 31, 2013 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 |
In Thousands, unless otherwise specified | Combination of Income and Marketable Approach [Member] | Combination of Income and Marketable Approach [Member] | Combination of Income and Marketable Approach [Member] | Combination of Income and Marketable Approach [Member] | Combination of Income and Marketable Approach [Member] | Combination of Income and Marketable Approach [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | ||
Altior [Member] | Cadeka [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Altior [Member] | Cadeka [Member] | Altior [Member] | Cadeka [Member] | |||
Altior [Member] | Cadeka [Member] | Altior [Member] | Cadeka [Member] | |||||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition-related contingent consideration | $4,300 | $10,100 | $2,973 | $1,370 | ' | ' | ' | ' | ' | ' | ' | ' |
Range | ' | ' | ' | ' | $6,725 | $4,800 | $20,175 | $18,000 | ' | ' | ' | ' |
Range | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 2.00% | 66.00% | 50.00% |
Note_6_Fair_Value_Details_Chan
Note 6 - Fair Value (Details) - Change in Fair Value of Consideration Liability (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Altior [Member] | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Consideration liability fair value | $2,973 | $10,138 |
Less: Adjustment to purchase consideration | -7,165 | ' |
Cadeka [Member] | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Consideration liability fair value | 1,370 | ' |
Purchase contingent consideration | 4,660 | ' |
Less: Adjustment to purchase consideration | ($3,290) | ' |
Note_6_Fair_Value_Details_Cash
Note 6 - Fair Value (Details) - Cash, Cash Equivalents and Short-Term Marketable Securities (USD $) | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 27, 2011 |
In Thousands, unless otherwise specified | ||||
Cash and cash equivalents | ' | ' | ' | ' |
Cash in financial institutions | $9,978 | $9,676 | ' | ' |
Money market funds | 4,636 | 5,042 | ' | ' |
Total cash and cash equivalents | 14,614 | 14,718 | 8,714 | 15,039 |
Short-term marketable securities | ' | ' | ' | ' |
Short-term marketable securities | 152,420 | 190,587 | ' | ' |
US Government Agencies Debt Securities [Member] | ' | ' | ' | ' |
Short-term marketable securities | ' | ' | ' | ' |
Short-term marketable securities | 22,512 | 41,721 | ' | ' |
US States and Political Subdivisions Debt Securities [Member] | ' | ' | ' | ' |
Short-term marketable securities | ' | ' | ' | ' |
Short-term marketable securities | 2,772 | 2,935 | ' | ' |
Corporate Debt Securities [Member] | ' | ' | ' | ' |
Short-term marketable securities | ' | ' | ' | ' |
Short-term marketable securities | 71,253 | 92,229 | ' | ' |
Asset-backed Securities [Member] | ' | ' | ' | ' |
Short-term marketable securities | ' | ' | ' | ' |
Short-term marketable securities | 27,635 | 30,966 | ' | ' |
Collateralized Mortgage Backed Securities [Member] | ' | ' | ' | ' |
Short-term marketable securities | ' | ' | ' | ' |
Short-term marketable securities | $28,248 | $22,736 | ' | ' |
Note_6_Fair_Value_Details_Net_
Note 6 - Fair Value (Details) - Net Realized Gains (Losses) on Marketable Securities (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Net Realized Gains (Losses) on Marketable Securities [Abstract] | ' | ' | ' |
Gross realized gains | $748 | $871 | $799 |
Gross realized losses | -547 | -953 | -1,098 |
Net realized gains (losses) | $201 | ($82) | ($299) |
Note_6_Fair_Value_Details_Summ
Note 6 - Fair Value (Details) - Summary of Investments in Marketable Securities (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | $157,280 | $195,300 | ||
Unrealized Gross Gains | 89 | [1] | 507 | [1] |
Unrealized Gross Losses | -313 | [1] | -178 | [1] |
Fair Value | 157,056 | 195,629 | ||
US Government Agencies Debt Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 22,550 | 41,694 | ||
Unrealized Gross Gains | 1 | [1] | 27 | [1] |
Unrealized Gross Losses | -39 | [1] | ' | [1] |
Fair Value | 22,512 | 41,721 | ||
US States and Political Subdivisions Debt Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 2,762 | 2,927 | ||
Unrealized Gross Gains | 10 | [1] | 10 | [1] |
Unrealized Gross Losses | ' | [1] | -2 | [1] |
Fair Value | 2,772 | 2,935 | ||
Corporate Debt Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 71,309 | 92,059 | ||
Unrealized Gross Gains | 32 | [1] | 215 | [1] |
Unrealized Gross Losses | -88 | [1] | -45 | [1] |
Fair Value | 71,253 | 92,229 | ||
Asset-backed Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 27,661 | 30,932 | ||
Unrealized Gross Gains | 22 | [1] | 61 | [1] |
Unrealized Gross Losses | -48 | [1] | -27 | [1] |
Fair Value | 27,635 | 30,966 | ||
Collateralized Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 28,362 | 22,646 | ||
Unrealized Gross Gains | 24 | [1] | 194 | [1] |
Unrealized Gross Losses | -138 | [1] | -104 | [1] |
Fair Value | 28,248 | 22,736 | ||
Money Market Funds [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 4,636 | 5,042 | ||
Unrealized Gross Gains | ' | [1] | ' | [1] |
Unrealized Gross Losses | ' | [1] | ' | [1] |
Fair Value | $4,636 | $5,042 | ||
[1] | Gross of tax impact of $828 for fiscal years 2014 and 2013 |
Note_6_Fair_Value_Details_Amor
Note 6 - Fair Value (Details) - Amortized Cost and Estimated Fair Value of Cash Equivalents and Marketable Securities (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amortized Cost and Estimated Fair Value of Cash Equivalents and Marketable Securities [Abstract] | ' | ' |
Less than 1 year | $49,539 | $61,011 |
Less than 1 year | 49,504 | 61,029 |
Due in 1 to 5 years | 107,741 | 134,289 |
Due in 1 to 5 years | 107,552 | 134,600 |
Total | 157,280 | 195,300 |
Total | $157,056 | $195,629 |
Note_6_Fair_Value_Details_Summ1
Note 6 - Fair Value (Details) - Summary of the Gross Unrealized Losses and Fair Values of Investments (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Note 6 - Fair Value (Details) - Summary of the Gross Unrealized Losses and Fair Values of Investments [Line Items] | ' | ' |
Fair Value Less than 12 Months | $93,424 | $42,528 |
Gross Unrealized Losses Less than 12 Months | -258 | -98 |
Fair Value Greater than 12 Months | 7,057 | 5,405 |
Gross Unrealized Losses Greater than 12 Months | -55 | -80 |
Fair Value Total | 100,481 | 47,933 |
Gross Unrealized Losses Total | -313 | -178 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Note 6 - Fair Value (Details) - Summary of the Gross Unrealized Losses and Fair Values of Investments [Line Items] | ' | ' |
Fair Value Less than 12 Months | 18,245 | ' |
Gross Unrealized Losses Less than 12 Months | -39 | ' |
Fair Value Greater than 12 Months | ' | 404 |
Gross Unrealized Losses Greater than 12 Months | ' | -2 |
Fair Value Total | 18,245 | 404 |
Gross Unrealized Losses Total | -39 | -2 |
Corporate Debt Securities [Member] | ' | ' |
Note 6 - Fair Value (Details) - Summary of the Gross Unrealized Losses and Fair Values of Investments [Line Items] | ' | ' |
Fair Value Less than 12 Months | 48,379 | 29,609 |
Gross Unrealized Losses Less than 12 Months | -87 | -42 |
Fair Value Greater than 12 Months | 596 | 497 |
Gross Unrealized Losses Greater than 12 Months | -1 | -3 |
Fair Value Total | 48,975 | 30,106 |
Gross Unrealized Losses Total | -88 | -45 |
Asset-backed Securities [Member] | ' | ' |
Note 6 - Fair Value (Details) - Summary of the Gross Unrealized Losses and Fair Values of Investments [Line Items] | ' | ' |
Fair Value Less than 12 Months | 7,118 | 10,008 |
Gross Unrealized Losses Less than 12 Months | -12 | -17 |
Fair Value Greater than 12 Months | 5,478 | 1,241 |
Gross Unrealized Losses Greater than 12 Months | -36 | -10 |
Fair Value Total | 12,596 | 11,249 |
Gross Unrealized Losses Total | -48 | -27 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Note 6 - Fair Value (Details) - Summary of the Gross Unrealized Losses and Fair Values of Investments [Line Items] | ' | ' |
Fair Value Less than 12 Months | 19,682 | 2,911 |
Gross Unrealized Losses Less than 12 Months | -120 | -39 |
Fair Value Greater than 12 Months | 983 | 3,263 |
Gross Unrealized Losses Greater than 12 Months | -18 | -65 |
Fair Value Total | 20,665 | 6,174 |
Gross Unrealized Losses Total | ($138) | ($104) |
Note_7_Related_Party_Transacti2
Note 7 - Related Party Transaction (Details) | Mar. 30, 2014 | Mar. 31, 2013 |
Note 7 - Related Party Transaction (Details) [Line Items] | ' | ' |
Common Stock, Shares, Outstanding | 47,336,005 | 46,607,246 |
Alonim Investments Inc. [Member] | ' | ' |
Note 7 - Related Party Transaction (Details) [Line Items] | ' | ' |
Common Stock, Shares, Outstanding | 7,600,000 | ' |
Percentage Of Common Stock Shares Outstanding | 16.00% | ' |
Note_7_Related_Party_Transacti3
Note 7 - Related Party Transaction (Details) - Related Party Contributions to Total Net Sales (Total Net Sales [Member], Alonim Investments Inc. [Member], Sales [Member]) | 12 Months Ended | ||
Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |
Total Net Sales [Member] | Alonim Investments Inc. [Member] | Sales [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Alonim | 29.00% | 30.00% | 31.00% |
Note_7_Related_Party_Transacti4
Note 7 - Related Party Transaction (Details) - Related Party Receivables As a Percentage of Net Accounts Receivable (Net Accounts Receivable [Member], Alonim Investments Inc. [Member], Accounts Receivable [Member]) | 12 Months Ended | |
Mar. 30, 2014 | Mar. 31, 2013 | |
Net Accounts Receivable [Member] | Alonim Investments Inc. [Member] | Accounts Receivable [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Alonim | 18.00% | 21.00% |
Note_8_Restructuring_Charges_a2
Note 8 - Restructuring Charges and Exit Costs (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 15 Months Ended | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Apr. 01, 2012 | Jul. 03, 2011 | Mar. 30, 2014 | Apr. 01, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Apr. 01, 2012 | Apr. 01, 2012 | Apr. 01, 2012 | Jul. 03, 2011 | Apr. 01, 2012 | Apr. 01, 2012 | Apr. 01, 2012 | Apr. 01, 2012 | Mar. 31, 2013 | Jul. 03, 2011 | Mar. 31, 2013 | |
Cost of Sales [Member] | Cost of Sales [Member] | Cost of Sales [Member] | Operating Expense [Member] | Operating Expense [Member] | Operating Expense [Member] | Termination Of OTN And De-Duplication Products [Member] | Property And Equipment [Member] | Lease Contract Termination Costs [Member] | Lease Contract Termination Costs [Member] | Lease Abandonment Charges [Member] | Accelerated Amortization And Depreciation Charges [Member] | Termination Of Certain Electronic Design Automated License Agreements [Member] | Write Off Of Prepaid Training, Maintenance And License Fees [Member] | Costs Associated With The Industrial Research Assistance Program [Member] | Inventory Write Off Costs [Member] | Industrial Research Assistance Program [Member] | |||||||||
Accelerated Amortization And Depreciation Charges [Member] | Accelerated Amortization And Depreciation Charges [Member] | ||||||||||||||||||||||||
Note 8 - Restructuring Charges and Exit Costs (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charges | $300,000 | $600,000 | $300,000 | $900,000 | $13,900,000 | $300,000 | $3,000,000 | $14,200,000 | $187,000 | $301,000 | $1,312,000 | $2,827,000 | $1,253,000 | $12,913,000 | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | $100,000 | ($500,000) |
Restructuring and Related Cost, Number of Positions Eliminated | ' | ' | ' | ' | 173 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Severance Costs | ' | ' | ' | ' | 4,200,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Incurred Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | 3,900,000 | 2,600,000 | 500,000 | ' | ' |
Other Restructuring Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | 200,000 | ' | ' | 800,000 | 1,900,000 | ' | ' | ' | ' | ' |
Payments of Severance Charges | ' | ' | ' | ' | ' | ' | ' | $1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_8_Restructuring_Charges_a3
Note 8 - Restructuring Charges and Exit Costs (Details) - Summary of Activities Affecting Liabilities (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning balance | $3,286 | $8,041 |
Additions / adjustments | 3,014 | 1,554 |
Non-cash charges | -57 | -56 |
Payments | -3,874 | -6,253 |
Ending balance | 2,369 | 3,286 |
Lease Contract Termination Costs [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning balance | 2,860 | 5,235 |
Additions / adjustments | 570 | 6 |
Non-cash charges | -57 | -56 |
Payments | -1,758 | -2,325 |
Ending balance | 1,615 | 2,860 |
Employee Severance [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning balance | 426 | 2,806 |
Additions / adjustments | 2,444 | 1,548 |
Payments | -2,116 | -3,928 |
Ending balance | $754 | $426 |
Note_9_LongTerm_Investment_Det
Note 9 - Long-Term Investment (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Dec. 29, 2013 | Jul. 01, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |
Note 9 - Long-Term Investment (Details) [Line Items] | ' | ' | ' | ' | ' |
Long-term Investments | ' | ' | $946,000 | $1,288,000 | $1,273,000 |
Payments to Acquire Long-term Investments | ' | ' | ' | 15,000 | ' |
undefined | ' | ' | 19,000 | ' | ' |
Skypoint Fund [Member] | ' | ' | ' | ' | ' |
Note 9 - Long-Term Investment (Details) [Line Items] | ' | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | 4,800,000 | ' | ' |
Payments to Acquire Long-term Investments | ' | 15,000 | ' | ' | ' |
undefined | 19,000 | ' | ' | ' | ' |
Cost-method Investments, Other than Temporary Impairment | ' | ' | $300,000 | $0 | $0 |
Note_9_LongTerm_Investment_Det1
Note 9 - Long-Term Investment (Details) - Long-Term Investments (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Long-Term Investments [Abstract] | ' | ' |
Beginning balance | $1,288 | $1,273 |
Contributions | ' | 15 |
Net distributions | -19 | ' |
Impairment charges | -323 | ' |
Ending balance | $946 | $1,288 |
Note_10_Goodwill_and_Intangibl2
Note 10 - Goodwill and Intangible Assets (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||
Sep. 30, 2012 | Apr. 01, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Apr. 01, 2012 | Apr. 01, 2012 | Apr. 01, 2012 | Jul. 05, 2013 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 31, 2013 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | |
Write Off Of Abandoned IPR&D [Member] | Amortization of Purchased Intangible Assets [Member] | Amortization of Existing Technology [Member] | Cadeka [Member] | Cadeka [Member] | Stretch [Member] | Altior [Member] | Distribution Rights [Member] | Trade Names [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | ||||||
Existing Technology [Member] | Patented Technology [Member] | Customer Relationships [Member] | Existing Technology [Member] | Patented Technology [Member] | Customer Relationships [Member] | |||||||||||||||
Note 10 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Operating Segments | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Impairment Loss | ' | ' | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Acquired During Period | ' | ' | ' | ' | ' | ' | ' | ' | 19,200,000 | 19,400,000 | 700,000 | 7,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | '3 years | '2 years | '5 years | '5 years | '9 years | '6 years | '7 years |
Impairment of Intangible Assets (Excluding Goodwill) | ' | ' | 1,636,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Sale of Intangible Assets | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Disposition of Intangible Assets | 223,000 | ' | ' | 223,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of Intangible Assets, Finite-lived | ' | $1,700,000 | $1,635,000 | ' | ' | $300,000 | $1,100,000 | $300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_10_Goodwill_and_Intangibl3
Note 10 - Goodwill and Intangible Assets (Details) - Changes in the Carrying Amount of Goodwill (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Changes in the Carrying Amount of Goodwill [Abstract] | ' | ' |
Beginning balance | $10,356 | $3,184 |
Goodwill additions | 20,054 | 7,172 |
Ending balance | $30,410 | $10,356 |
Note_10_Goodwill_and_Intangibl4
Note 10 - Goodwill and Intangible Assets (Details) - Purchased Intangible Assets (USD $) | 3 Months Ended | 12 Months Ended | ||
Apr. 01, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |
Amortized intangible assets: | ' | ' | ' | ' |
Carrying Amount | ' | $75,706,000 | $50,486,000 | ' |
Impairment | -1,700,000 | -1,635,000 | ' | ' |
Accumulated Amoritzation | ' | -44,961,000 | -37,148,000 | ' |
Net Carrying Amount | ' | 29,110,000 | 13,338,000 | ' |
Total | ' | 77,986,000 | 50,486,000 | ' |
Total | ' | -1,636,000 | 0 | 0 |
Total | ' | -44,961,000 | -37,148,000 | ' |
Total | ' | 31,390,000 | 13,338,000 | ' |
Technology-Based Intangible Assets [Member] | ' | ' | ' | ' |
Amortized intangible assets: | ' | ' | ' | ' |
Carrying Amount | ' | 64,678,000 | 42,858,000 | ' |
Impairment | ' | -1,635,000 | ' | ' |
Accumulated Amoritzation | ' | -37,510,000 | -30,668,000 | ' |
Net Carrying Amount | ' | 25,533,000 | 12,190,000 | ' |
Total | ' | -37,510,000 | -30,668,000 | ' |
Customer Relationships [Member] | ' | ' | ' | ' |
Amortized intangible assets: | ' | ' | ' | ' |
Carrying Amount | ' | 6,095,000 | 2,905,000 | ' |
Accumulated Amoritzation | ' | -2,762,000 | -2,079,000 | ' |
Net Carrying Amount | ' | 3,333,000 | 826,000 | ' |
Total | ' | -2,762,000 | -2,079,000 | ' |
Patents [Member] | ' | ' | ' | ' |
Amortized intangible assets: | ' | ' | ' | ' |
Carrying Amount | ' | 3,459,000 | 3,459,000 | ' |
Accumulated Amoritzation | ' | -3,378,000 | -3,182,000 | ' |
Net Carrying Amount | ' | 81,000 | 277,000 | ' |
Total | ' | -3,378,000 | -3,182,000 | ' |
Distribution Rights [Member] | ' | ' | ' | ' |
Amortized intangible assets: | ' | ' | ' | ' |
Carrying Amount | ' | 1,264,000 | 1,264,000 | ' |
Accumulated Amoritzation | ' | -1,260,000 | -1,219,000 | ' |
Net Carrying Amount | ' | 4,000 | 45,000 | ' |
Total | ' | -1,260,000 | -1,219,000 | ' |
Trade Names [Member] | ' | ' | ' | ' |
Amortized intangible assets: | ' | ' | ' | ' |
Carrying Amount | ' | 210,000 | ' | ' |
Accumulated Amoritzation | ' | -51,000 | ' | ' |
Net Carrying Amount | ' | 159,000 | ' | ' |
Total | ' | -51,000 | ' | ' |
In Process Research and Development [Member] | ' | ' | ' | ' |
Amortized intangible assets: | ' | ' | ' | ' |
In-process research and development | ' | $2,280,000 | ' | ' |
Note_10_Goodwill_and_Intangibl5
Note 10 - Goodwill and Intangible Assets (Details) - Aggregate Amortization Expenses for Purchased Intangible Assets (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Aggregate Amortization Expenses for Purchased Intangible Assets [Abstract] | ' | ' | ' |
Amortization expense | $7,813 | $4,150 | $6,700 |
Note_10_Goodwill_and_Intangibl6
Note 10 - Goodwill and Intangible Assets (Details) - Estimated Future Amortization Expenses for Purchased Intangible Assets (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amortization Expense (by fiscal year) | ' | ' |
2015 | $6,159 | ' |
2016 | 5,578 | ' |
2017 | 4,645 | ' |
2018 | 4,432 | ' |
2019 | 3,231 | ' |
2020 and thereafter | 5,065 | ' |
Total future amortization excluding IPR&D | $29,110 | $13,338 |
Note_11_Net_Income_Loss_Per_Sh2
Note 11 - Net Income (Loss) Per Share (Details) (Equity Option [Member]) | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Equity Option [Member] | ' | ' |
Note 11 - Net Income (Loss) Per Share (Details) [Line Items] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1.4 | 2.2 |
Note_11_Net_Income_Loss_Per_Sh3
Note 11 - Net Income (Loss) Per Share (Details) - Summary of Net Income (Loss) per Share (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 30, 2014 | Dec. 29, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Summary of Net Income (Loss) per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) (in Dollars) | $147 | ($1,634) | $6,482 | $806 | $1,672 | $1,523 | $263 | ($576) | $5,801 | $2,882 | ($28,056) |
Shares used in computation of net income (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | 47,291 | 45,809 | 44,796 |
Effect of options and awards | ' | ' | ' | ' | ' | ' | ' | ' | 1,532 | 667 | ' |
Diluted | 48,778 | 47,529 | 49,150 | 48,085 | 47,379 | 46,438 | 46,046 | 45,388 | 48,823 | 46,476 | 44,796 |
Net income (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in Dollars per share) | $0 | ($0.03) | $0.14 | $0.02 | $0.04 | $0.03 | $0.01 | ($0.01) | $0.12 | $0.06 | ($0.63) |
Diluted (in Dollars per share) | $0 | ($0.03) | $0.13 | $0.02 | $0.04 | $0.03 | $0.01 | ($0.01) | $0.12 | $0.06 | ($0.63) |
Note_12_Common_Stock_Repurchas2
Note 12 - Common Stock Repurchases (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | 12 Months Ended | ||
Share data in Millions, unless otherwise specified | Jul. 09, 2013 | Jun. 30, 2013 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Jun. 29, 2014 | Aug. 28, 2007 | Mar. 30, 2014 |
Subsequent Event [Member] | August 2007 Repurchase Plan [Member] | August 2007 Repurchase Plan [Member] | ||||||
Note 12 - Common Stock Repurchases (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Authorized Amount | $50,000,000 | ' | ' | ' | ' | ' | $100,000,000 | ' |
Treasury Stock, Shares, Retired (in Shares) | ' | 19.9 | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period, Value | ' | ' | 9,000,000 | 0 | 0 | 3,000,000 | ' | 97,200,000 |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | ' | ' | $52,800,000 | ' | ' | ' | ' | ' |
Note_12_Common_Stock_Repurchas3
Note 12 - Common Stock Repurchases (Details) - Stock Repurchase Activities (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Stock Repurchase Activities [Abstract] | ' | ' | ' |
Balances, Total number of Shares Purchased | 10,319 | 9,564 | 9,564 |
Balances, Average Price Paid Per Share (or Unit) | $9.42 | $9.22 | $9.22 |
Balances, Amount Paid for Purchase | $97,189 | $88,189 | $88,189 |
Repurchases, Total number of Shares Purchased | 755 | ' | ' |
Repurchases, Average Price Paid Per Share (or Unit) | $11.92 | ' | ' |
Repurchases, Amount Paid for Purchase | $9,000 | ' | ' |
Note_13_Employee_Benefit_Plans2
Note 13 - Employee Benefit Plans (Details) - Matching Contributions to the Plan (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Matching Contributions to the Plan [Abstract] | ' | ' | ' |
Matching contributions | $373 | $267 | $294 |
Note_13_Employee_Benefit_Plans3
Note 13 - Employee Benefit Plans (Details) - Paid and Unpaid Incentive Compensation (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Paid and Unpaid Incentive Compensation [Abstract] | ' | ' |
Unpaid incentive compensation | $698 | $781 |
Note_14_StockBased_Compensatio2
Note 14 - Stock-Based Compensation (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | |||||||||||||||||||||
Apr. 30, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Apr. 30, 2012 | Apr. 30, 2012 | Jan. 31, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Jul. 31, 2009 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 31, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Jun. 30, 2013 | Mar. 30, 2014 | Mar. 30, 2014 | Jan. 31, 2014 | Mar. 31, 2013 | Mar. 30, 2014 | Apr. 30, 2012 | Mar. 31, 2013 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Oct. 31, 2013 | Mar. 30, 2014 | Apr. 01, 2012 | Mar. 30, 2014 | Sep. 15, 2010 | Jan. 31, 2014 | Jan. 31, 2012 | |
6 Months After The Commencement [Member] | On The Last Day of FY 2013 [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | July 2009 PRSUs [Member] | July 2009 PRSUs [Member] | July 2009 PRSUs [Member] | July 2009 PRSUs [Member] | Performance-Based RSUs [Member] | Performance-Based RSUs [Member] | Performance-Based RSUs [Member] | Performance-Based RSUs [Member] | Performance-Based RSUs [Member] | Performance-Based RSUs [Member] | Performance-Based RSUs [Member] | Performance-Based RSUs [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | October 2013 PRSUs [Member] | October 2013 PRSUs [Member] | Stock Options and PRSUs [Member] | Employee Stock Participation Plan [Member] | 2006 Plan [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | |||||
Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Certain Executives [Member] | Certain Executives [Member] | Certain Executives [Member] | Certain Executives [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Certain Executives [Member] | Certain Executives [Member] | Cadeka Employees [Member] | Former Stretch Employees [Member] | 2013 Inventive Program [Member] | 2014 Incentive Program [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Certain Executives [Member] | Certain Executives [Member] | Chief Executive Officer [Member] | |||||||||||||||
Note 14 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95.00% | ' | ' | ' |
Stock Based Compensation Equity Incentive Plan | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,500,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,300,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11.71 | $10.50 | $8.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | 2,482,650 | 2,540,010 | 3,100,595 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140,000 | 480,000 |
Share Based Compensation Arrangement By Share Based Payment Award, Vesting, Number of Installments | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | 3 | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | ' | $8,852,000 | $4,788,000 | $3,750,000 | ' | ' | ' | $260,000 | $260,000 | $65,000 | ' | ' | ' | ' | $0 | $0 | $19,000 | ' | $732,000 | $448,000 | $48,000 | ' | $300,000 | $1,200,000 | $0 | $1,200,000 | $700,000 | ' | $250,000 | ' | ' | ' | ' | $100,000 | $114,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99,000 | ' | ' | ' | 300,000 | ' | ' | ' | 50,000 | ' | ' | 80,000 | ' | ' | 29,000 | ' | 828,995 | 331,894 | 481,650 | 35,000 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | '3 years | ' | ' | ' | '3 years | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_14_StockBased_Compensatio3
Note 14 - Stock-Based Compensation (Details) - ESPP Transactions (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
ESPP Transactions [Abstract] | ' | ' | ' |
Authorized to issue: | 4,500 | ' | ' |
Reserved for future issuance: | ' | ' | ' |
Shares of Common Stock | 1,372 | 1,392 | 1,418 |
Issued: | ' | ' | ' |
Shares of Common Stock | 20 | 26 | 62 |
Weighted Average Price per Share (in Dollars per share) | $11.38 | $8.38 | $6.09 |
Note_14_StockBased_Compensatio4
Note 14 - Stock-Based Compensation (Details) - Stock Options Outstanding (USD $) | 12 Months Ended | ||||
Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 27, 2011 | Mar. 28, 2010 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' |
Number Outstanding (in Shares) | 7,213,848 | 6,212,333 | 6,345,307 | ' | 5,729,464 |
Weighted Average Remaining Contractual Terms (in years) | '5 years 7 days | '5 years 14 days | '4 years 244 days | '4 years 270 days | ' |
Weighted Average Exercise Price per Share | $8.98 | $7.48 | $7.23 | ' | $7.61 |
Number Exercisable (in Shares) | 2,369,001 | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $7.54 | ' | ' | ' | ' |
Range One [Member] | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' |
Range of Exercise Prices | $5.44 | ' | ' | ' | ' |
Range of Exercise Prices | $6.43 | ' | ' | ' | ' |
Number Outstanding (in Shares) | 2,010,296 | ' | ' | ' | ' |
Weighted Average Remaining Contractual Terms (in years) | '4 years | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $6.27 | ' | ' | ' | ' |
Number Exercisable (in Shares) | 1,184,735 | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $6.25 | ' | ' | ' | ' |
Range Two [Member] | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' |
Range of Exercise Prices | $6.60 | ' | ' | ' | ' |
Range of Exercise Prices | $8.07 | ' | ' | ' | ' |
Number Outstanding (in Shares) | 1,577,634 | ' | ' | ' | ' |
Weighted Average Remaining Contractual Terms (in years) | '4 years 124 days | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $7.62 | ' | ' | ' | ' |
Number Exercisable (in Shares) | 597,423 | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $7.46 | ' | ' | ' | ' |
Range Three [Member] | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' |
Range of Exercise Prices | $8.16 | ' | ' | ' | ' |
Range of Exercise Prices | $10.80 | ' | ' | ' | ' |
Number Outstanding (in Shares) | 1,764,751 | ' | ' | ' | ' |
Weighted Average Remaining Contractual Terms (in years) | '5 years 164 days | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $9.56 | ' | ' | ' | ' |
Number Exercisable (in Shares) | 387,376 | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $8.90 | ' | ' | ' | ' |
Range Four [Member] | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' |
Range of Exercise Prices | $11.23 | ' | ' | ' | ' |
Range of Exercise Prices | $13.36 | ' | ' | ' | ' |
Number Outstanding (in Shares) | 1,451,567 | ' | ' | ' | ' |
Weighted Average Remaining Contractual Terms (in years) | '6 years 142 days | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $12.22 | ' | ' | ' | ' |
Number Exercisable (in Shares) | 136,867 | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $12.32 | ' | ' | ' | ' |
Range Five [Member] | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' |
Range of Exercise Prices | $13.54 | ' | ' | ' | ' |
Range of Exercise Prices | $15.67 | ' | ' | ' | ' |
Number Outstanding (in Shares) | 409,600 | ' | ' | ' | ' |
Weighted Average Remaining Contractual Terms (in years) | '6 years 7 days | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $13.59 | ' | ' | ' | ' |
Number Exercisable (in Shares) | 62,600 | ' | ' | ' | ' |
Weighted Average Exercise Price per Share | $13.84 | ' | ' | ' | ' |
Note_14_StockBased_Compensatio5
Note 14 - Stock-Based Compensation (Details) - Stock Option Transactions (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 27, 2011 |
Stock Option Transactions [Abstract] | ' | ' | ' | ' |
Options outstanding | 6,212,333 | 6,345,307 | ' | 5,729,464 |
Weighted Average Exercise Price of Options Outstanding (in Dollars per share) | $7.48 | $7.23 | ' | $7.61 |
Weighted Average Remaining Contractual Term of Options Outstanding | '5 years 7 days | '5 years 14 days | '4 years 244 days | '4 years 270 days |
Aggregate Intrinsic Value (in Dollars) | $19,199 | $9,474 | ' | $147 |
In the Money Options Vested and Exercisable | 1,481,000 | 1,193,000 | ' | 103,000 |
Vested and expected to vest, March 30, 2014 | 6,740,358 | ' | ' | ' |
Vested and expected to vest, March 30, 2014 (in Dollars per share) | $8.88 | ' | ' | ' |
Vested and expected to vest, March 30, 2014 | '4 years 343 days | ' | ' | ' |
Vested and expected to vest, March 30, 2014 (in Dollars) | 20,539 | ' | ' | ' |
Vested and exercisable, March 30, 2014 | 2,369,001 | ' | ' | ' |
Vested and exercisable, March 30, 2014 (in Dollars per share) | $7.54 | ' | ' | ' |
Vested and exercisable, March 30, 2014 | '3 years 200 days | ' | ' | ' |
Vested and exercisable, March 30, 2014 (in Dollars) | 10,114 | ' | ' | ' |
Options Granted | 2,482,650 | 2,540,010 | 3,100,595 | ' |
Weighted average Exercise Price per Share of Options Granted (in Dollars per share) | $11.89 | $8.32 | $6.33 | ' |
Options Exercised | -784,864 | -875,459 | -422,749 | ' |
Weighted Average Exercise Price of Options Exercised (in Dollars per share) | $7.14 | $6.92 | $6.54 | ' |
Options Cancelled | -10,834 | -903,781 | -526,574 | ' |
Weighted Average Exercise Price of Options Cancelled (in Dollars per share) | $10.92 | $9.67 | $8.15 | ' |
Options Forfeited | -685,437 | -893,744 | -1,535,429 | ' |
Weighted Average Exercise Price of Options Forfeited (in Dollars per share) | $8.02 | $6.41 | $6.70 | ' |
Options outstanding | 7,213,848 | 6,212,333 | 6,345,307 | ' |
Weighted Average Exercise Price of Options Outstanding (in Dollars per share) | $8.98 | $7.48 | $7.23 | ' |
Weighted Average Remaining Contractual Term of Options Outstanding | '5 years 7 days | '5 years 14 days | '4 years 244 days | '4 years 270 days |
Aggregate Intrinsic Value (in Dollars) | $21,301 | $19,199 | $9,474 | ' |
In the Money Options Vested and Exercisable | 2,170,000 | 1,481,000 | 1,193,000 | ' |
Note_14_StockBased_Compensatio6
Note 14 - Stock-Based Compensation (Details) - Options Exercised (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Options Exercised [Abstract] | ' | ' | ' |
Intrinsic value of options exercised | $3,887 | $1,443 | $79 |
Cash received related to option exercises | 9,493 | 6,059 | 2,763 |
Tax benefit recorded | $6,669 | $1,927 | $1,761 |
Note_14_StockBased_Compensatio7
Note 14 - Stock-Based Compensation (Details) - RSU Transactions (Restricted Stock Units (RSUs) [Member], USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 27, 2011 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Note 14 - Stock-Based Compensation (Details) - RSU Transactions [Line Items] | ' | ' | ' | ' |
Shares | 732,204 | 604,655 | ' | 557,098 |
Weighted Average Grant-Date Fair Value (in Dollars per share) | $7.73 | $7.13 | ' | $7.17 |
Weighted Average Remaining Contractual Term (in years) | '1 year 226 days | '1 year 262 days | '2 years 138 days | '1 year 32 days |
Aggregate Intrinsic Value (in thousands) (in Dollars) | $7,688 | $5,079 | ' | $3,387 |
Vested and expected to vest, March 30, 2014 | 1,018,609 | ' | ' | ' |
Vested and expected to vest, March 30, 2014 | '1 year 211 days | ' | ' | ' |
Vested and expected to vest, March 30, 2014 (in Dollars) | 11,928 | ' | ' | ' |
Shares Granted | 828,995 | 331,894 | 481,650 | ' |
Weighted Average Grant Date Fair Value (in Dollars per share) | $13.06 | $8.40 | $7.12 | ' |
Shares Issued and Released | -346,407 | -125,095 | -271,830 | ' |
Weighted Average Grant Date Fair Value (in Dollars per share) | $9.38 | $7.10 | $7.25 | ' |
Weighted Average Remaining Contractual Term (in years) | -37,666 | -79,250 | -162,263 | ' |
Aggregate Intrinsic Value (in thousands) (in Dollars per share) | $9.52 | $6.96 | $7.25 | ' |
Shares | 1,177,126 | 732,204 | 604,655 | ' |
Weighted Average Grant-Date Fair Value (in Dollars per share) | $10.94 | $7.73 | $7.13 | ' |
Weighted Average Remaining Contractual Term (in years) | '1 year 226 days | '1 year 262 days | '2 years 138 days | '1 year 32 days |
Aggregate Intrinsic Value (in thousands) (in Dollars) | $13,784 | $7,688 | $5,079 | ' |
Note_14_StockBased_Compensatio8
Note 14 - Stock-Based Compensation (Details) - Weighted Average Assumptions (USD $) | 12 Months Ended | ||
Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |
Note 14 - Stock-Based Compensation (Details) - Weighted Average Assumptions [Line Items] | ' | ' | ' |
Expected term of options (years) | ' | '4 years 131 days | '4 years 109 days |
Weighted average grant date fair value (in Dollars per share) | $3.40 | $2.80 | $2.22 |
Minimum [Member] | ' | ' | ' |
Note 14 - Stock-Based Compensation (Details) - Weighted Average Assumptions [Line Items] | ' | ' | ' |
Expected term of options (years) | '4 years 146 days | ' | ' |
Risk-free interest rate | 0.60% | 0.50% | 0.70% |
Expected volatility | 32.00% | 37.00% | 41.00% |
Maximum [Member] | ' | ' | ' |
Note 14 - Stock-Based Compensation (Details) - Weighted Average Assumptions [Line Items] | ' | ' | ' |
Expected term of options (years) | '4 years 178 days | ' | ' |
Risk-free interest rate | 1.10% | 0.60% | 1.50% |
Expected volatility | 35.00% | 42.00% | 43.00% |
Note_14_StockBased_Compensatio9
Note 14 - Stock-Based Compensation (Details) - Stock-Based Compensation Expense Related to Stock Options and RSUs (USD $) | 12 Months Ended | ||
Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-Based Compensation Expense categories | $8,852,000 | $4,788,000 | $3,750,000 |
Cost of Sales [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-Based Compensation Expense categories | 714,000 | 469,000 | 301,000 |
Research and Development Expense [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-Based Compensation Expense categories | 1,974,000 | 789,000 | 1,239,000 |
Selling and Marketing Expense [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-Based Compensation Expense categories | $6,164,000 | $3,530,000 | $2,210,000 |
Recovered_Sheet1
Note 14 - Stock-Based Compensation (Details) - Unrecognized Stock-Based Compensation Expense Related to Stock Options and RSUs (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Note 14 - Stock-Based Compensation (Details) - Unrecognized Stock-Based Compensation Expense Related to Stock Options and RSUs [Line Items] | ' | ' | ' |
Amount | $19,217 | $10,142 | $11,656 |
Employee Stock Option [Member] | ' | ' | ' |
Note 14 - Stock-Based Compensation (Details) - Unrecognized Stock-Based Compensation Expense Related to Stock Options and RSUs [Line Items] | ' | ' | ' |
Amount | 9,958 | 6,269 | 7,356 |
Weighted Average Remaining Recognition Period | '2 years 255 days | '2 years 292 days | '2 years 292 days |
Performance Shares [Member] | ' | ' | ' |
Note 14 - Stock-Based Compensation (Details) - Unrecognized Stock-Based Compensation Expense Related to Stock Options and RSUs [Line Items] | ' | ' | ' |
Amount | 242 | 502 | 763 |
Weighted Average Remaining Recognition Period | '2 years 73 days | '2 years 219 days | '3 years 6 months |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Note 14 - Stock-Based Compensation (Details) - Unrecognized Stock-Based Compensation Expense Related to Stock Options and RSUs [Line Items] | ' | ' | ' |
Amount | 5,970 | 1,557 | 1,185 |
Weighted Average Remaining Recognition Period | '2 years 73 days | '2 years 6 months | '3 years 73 days |
Performance-Based RSUs [Member] | ' | ' | ' |
Note 14 - Stock-Based Compensation (Details) - Unrecognized Stock-Based Compensation Expense Related to Stock Options and RSUs [Line Items] | ' | ' | ' |
Amount | $3,047 | $1,814 | $2,352 |
Weighted Average Remaining Recognition Period | '2 years 6 months | '3 years 146 days | '4 years 36 days |
Note_15_Lease_Financing_Obliga2
Note 15 - Lease Financing Obligation (Details) (USD $) | Jul. 31, 2012 | Dec. 30, 2011 | Oct. 31, 2011 | Jun. 30, 2010 | Dec. 31, 2009 | Jul. 31, 2009 | Mar. 30, 2014 | Mar. 30, 2014 |
In Millions, unless otherwise specified | Minimum [Member] | Maximum [Member] | ||||||
Note 15 - Lease Financing Obligation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Lease Obligations | $0.90 | $4.50 | $5.80 | $1 | $1.30 | $1.10 | ' | ' |
Capital Lease License Term | '3 years | '3 years | '3 years | '3 years | '28 months | '3 years | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | ' | ' | ' | ' | ' | ' | 2.00% | 7.25% |
Note_15_Lease_Financing_Obliga3
Note 15 - Lease Financing Obligation (Details) - Amortization Expense Related to the Design Tools (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Note 15 - Lease Financing Obligation (Details) - Amortization Expense Related to the Design Tools [Line Items] | ' | ' | ' |
Amortization expense | $7,600 | $3,379 | $3,603 |
Design Tools [Member] | ' | ' | ' |
Note 15 - Lease Financing Obligation (Details) - Amortization Expense Related to the Design Tools [Line Items] | ' | ' | ' |
Amortization expense | $3,294 | $3,523 | $3,706 |
Note_15_Lease_Financing_Obliga4
Note 15 - Lease Financing Obligation (Details) - Lease Financing (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Lease Financing [Abstract] | ' | ' |
2015 | $2,741 | ' |
2016 | 59 | ' |
2017 | 10 | ' |
2018 | 7 | ' |
Total minimum lease payments | 2,817 | ' |
Less: amount representing interest | 76 | ' |
Present value of future minimum lease payments | 2,741 | ' |
Less: short-term lease financing obligations | 2,671 | 3,189 |
Long-term lease financing obligations | $70 | ' |
Note_15_Lease_Financing_Obliga5
Note 15 - Lease Financing Obligation (Details) - Interest Expense (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Note 15 - Lease Financing Obligation (Details) - Interest Expense [Line Items] | ' | ' | ' |
Interest expense – design tools | $156 | $165 | $215 |
Design Tools [Member] | ' | ' | ' |
Note 15 - Lease Financing Obligation (Details) - Interest Expense [Line Items] | ' | ' | ' |
Interest expense – design tools | $155 | $143 | $210 |
Note_15_Lease_Financing_Obliga6
Note 15 - Lease Financing Obligation (Details) - Rent Expense (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Rent Expense [Abstract] | ' | ' | ' |
Rent expense | $1,289 | $616 | $2,121 |
Note_15_Lease_Financing_Obliga7
Note 15 - Lease Financing Obligation (Details) - Operating Lease (USD $) | Mar. 30, 2014 |
In Thousands, unless otherwise specified | |
Operating Lease [Abstract] | ' |
2015 | $688 |
2016 | 463 |
2017 | 152 |
2018 | 21 |
Total future minimum lease payments | $1,324 |
Note_16_Commitments_and_Contin2
Note 16 - Commitments and Contingencies (Details) (USD $) | Mar. 30, 2014 | Sep. 29, 2013 | Mar. 31, 2013 | Apr. 01, 2012 |
In Thousands, unless otherwise specified | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' | ' |
Product Warranty Accrual | $1,074 | $1,400 | $50 | $90 |
Note_16_Commitments_and_Contin3
Note 16 - Commitments and Contingencies (Details) - Outstanding Liabilities for Remediation Activities, Net of Payments (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Outstanding Liabilities for Remediation Activities, Net of Payments [Abstract] | ' | ' |
Liabilities for remediation activities | $28 | $76 |
Note_16_Commitments_and_Contin4
Note 16 - Commitments and Contingencies (Details) - Warranty Reserve Balance (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Sep. 29, 2013 |
Warranty Reserve Balance [Abstract] | ' | ' | ' |
Beginning balance | $50 | $90 | $1,400 |
Provisions for warranties issued | 1,480 | ' | ' |
Settlements/adjustments | -456 | -40 | ' |
Ending balance | $1,074 | $50 | $1,400 |
Note_18_Income_Taxes_Details
Note 18 - Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 29, 2013 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 27, 2011 | Mar. 30, 2014 | Dec. 29, 2013 | Mar. 30, 2014 | |
Cadeka [Member] | Cadeka [Member] | Cadeka [Member] | ||||||
Note 18 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Undistributed Earnings of Foreign Subsidiaries | ' | ($5,800,000) | ' | ' | ' | ' | ' | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | ' | -8,000,000 | -6,700,000 | 13,900,000 | ' | ' | ' | ' |
Income Tax Expense (Benefit) | -1,300,000 | -8,478,000 | -1,189,000 | 51,000 | ' | -170,000 | -6,800,000 | -6,800,000 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | ' | 8,300,000 | ' | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits | ' | 14,164,000 | 15,465,000 | 16,820,000 | 16,714,000 | ' | ' | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | ' | 11,600,000 | ' | ' | ' | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | ' | $96,000 | ' | ' | ' | ' | ' | ' |
Note_18_Income_Taxes_Details_C
Note 18 - Income Taxes (Details) - Components of the Provision for (Benefit from) Income Taxes (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Current: | ' | ' | ' | ' |
Federal | ' | ($1,350) | ($1,255) | $110 |
State | ' | -93 | -73 | -235 |
Foreign | ' | -81 | 114 | 218 |
Total current | ' | -1,524 | -1,214 | 93 |
Deferred: | ' | ' | ' | ' |
Federal | ' | -6,807 | 23 | -39 |
State | ' | -147 | 2 | -3 |
Total deferred | ' | -6,954 | 25 | -42 |
Total provision for (benefit from) income taxes | ($1,300) | ($8,478) | ($1,189) | $51 |
Note_18_Income_Taxes_Details_F
Note 18 - Income Taxes (Details) - Foreign Income Included in Consolidated Pre-Tax Income (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Apr. 01, 2012 |
Foreign Income Included in Consolidated Pre-Tax Income [Abstract] | ' | ' |
Foreign income/(loss) | ($307) | $1,243 |
Note_18_Income_Taxes_Details_S
Note 18 - Income Taxes (Details) - Significant Components of Net Deferred Taxes (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Reserves and expenses not currently deductible | $7,973 | $8,049 |
Net operating loss carryforwards | 123,826 | 124,662 |
Tax credits | 27,259 | 29,109 |
Losses on investments | 1,832 | 2,110 |
Unrealized investment gain | 80 | ' |
Intangible assets | 6,838 | 6,225 |
Deferred margin | 3,968 | 4,158 |
Depreciation | 642 | 604 |
Total deferred tax assets | 172,418 | 174,917 |
Deferred tax liabilities: | ' | ' |
Unrealized investment loss | ' | -116 |
Non-goodwill intangibles | -6,560 | -930 |
Total deferred tax liabilities | -6,560 | -1,046 |
Valuation allowance | -165,924 | -173,927 |
Net deferred tax liabilities | ($66) | ($56) |
Note_18_Income_Taxes_Details_R
Note 18 - Income Taxes (Details) - Reconciliations of Income Tax Provision at the Statutory Rate to Provision for (Benefit from) Income Tax (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Reconciliations of Income Tax Provision at the Statutory Rate to Provision for (Benefit from) Income Tax [Abstract] | ' | ' | ' | ' |
Income tax benefit at statutory rate | ' | ($937) | $593 | ($10,061) |
State income taxes, net of federal tax benefit | ' | -1 | 60 | -824 |
Deferred tax assets not benefited | ' | -1,972 | -378 | 11,967 |
Tax credits | ' | -757 | -539 | -1,021 |
Stock-based compensation | ' | -427 | 258 | 432 |
Foreign rate differential | ' | 156 | 148 | -373 |
Prior year tax expense true-up | ' | -10 | 11 | 12 |
Fair value adjustment | ' | -3,732 | ' | ' |
Other, net | ' | -798 | -1,342 | -81 |
Provision for (benefit from) income taxes | ($1,300) | ($8,478) | ($1,189) | $51 |
Note_18_Income_Taxes_Details_F1
Note 18 - Income Taxes (Details) - Federal, State, and Canada Net Operating Loss Carryforwards for Income Tax Purposes (USD $) | Mar. 30, 2014 |
In Thousands, unless otherwise specified | |
Internal Revenue Service (IRS) [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Federal net operating loss carryforwards | $325,333 |
State and Local Jurisdiction [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
State net operating loss carryforwards | 118,149 |
Canada [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Canada net operating loss carryforwards | $27,064 |
Note_18_Income_Taxes_Details_F2
Note 18 - Income Taxes (Details) - Federal, State, and Canada Tax Credit Carryforwards, Net of Reserves (USD $) | Mar. 30, 2014 |
In Thousands, unless otherwise specified | |
Internal Revenue Service (IRS) [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Tax credit carryforwards | $9,618 |
State and Local Jurisdiction [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Tax credit carryforwards | 19,186 |
Canada [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Tax credit carryforwards | $5,135 |
Note_18_Income_Taxes_Details_R1
Note 18 - Income Taxes (Details) - Reconciliation of the Beginning and Ending Amount of the Unrecognized Tax Benefits (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 27, 2011 |
Reconciliation of the Beginning and Ending Amount of the Unrecognized Tax Benefits [Abstract] | ' | ' | ' | ' |
Unrecognized tax benefits | $14,164 | $15,465 | $16,820 | $16,714 |
Gross increase related to prior year tax positions | 92 | ' | ' | ' |
Gross decrease related to prior year tax positions | ' | -271 | -289 | ' |
Gross increase related to current year tax positions | 487 | 292 | 578 | ' |
Lapses in statute of limitation | ($1,880) | ($1,376) | ($183) | ' |
Note_18_Income_Taxes_Details_T
Note 18 - Income Taxes (Details) - Total Unrecognized Gross Tax Benefits (USD $) | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | Mar. 27, 2011 | ||
In Thousands, unless otherwise specified | ||||||
Total Unrecognized Gross Tax Benefits [Abstract] | ' | ' | ' | ' | ||
Unrecognized gross tax benefits | $14,164 | $15,465 | $16,820 | $16,714 | ||
Less: amount used to reduce deferred tax assets | 13,370 | 13,240 | ' | ' | ||
Net income tax payable(1) | $794 | [1] | $2,225 | [1] | ' | ' |
[1] | Included in other non-current obligations line item in consolidated balance sheet. |
Note_18_Income_Taxes_Details_E
Note 18 - Income Taxes (Details) - Estimated Interest and Penalties Related to the Underpayment of Income Taxes (USD $) | Mar. 30, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Estimated Interest and Penalties Related to the Underpayment of Income Taxes [Abstract] | ' | ' |
Accrued interest and penalties | $83 | $228 |
Note_19_Segment_and_Geographic2
Note 19 - Segment and Geographic Information (Details) | 12 Months Ended |
Mar. 30, 2014 | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 1 |
Number of Operating Segments | 1 |
Note_19_Segment_and_Geographic3
Note 19 - Segment and Geographic Information (Details) - Net Sales by End Market (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total net sales by end market | $125,322 | $122,026 | $130,566 |
Industrial And Embedded Systems [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total net sales by end market | 72,458 | 63,396 | 66,602 |
Networking And Storage [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total net sales by end market | 30,594 | 32,737 | 27,005 |
Communications Infrastructure [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total net sales by end market | 21,808 | 24,965 | 35,829 |
Other Markets [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total net sales by end market | $462 | $928 | $1,130 |
Note_19_Segment_and_Geographic4
Note 19 - Segment and Geographic Information (Details) - Net Sales by Geographic Area (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Note 19 - Segment and Geographic Information (Details) - Net Sales by Geographic Area [Line Items] | ' | ' | ' |
Net sales | $125,322 | $122,026 | $130,566 |
CHINA | ' | ' | ' |
Note 19 - Segment and Geographic Information (Details) - Net Sales by Geographic Area [Line Items] | ' | ' | ' |
Net sales | 43,537 | 41,118 | 44,035 |
UNITED STATES | ' | ' | ' |
Note 19 - Segment and Geographic Information (Details) - Net Sales by Geographic Area [Line Items] | ' | ' | ' |
Net sales | 37,079 | 32,322 | 33,585 |
SINGAPORE | ' | ' | ' |
Note 19 - Segment and Geographic Information (Details) - Net Sales by Geographic Area [Line Items] | ' | ' | ' |
Net sales | 13,397 | 13,827 | 13,883 |
GERMANY | ' | ' | ' |
Note 19 - Segment and Geographic Information (Details) - Net Sales by Geographic Area [Line Items] | ' | ' | ' |
Net sales | 11,270 | 11,692 | 13,671 |
JAPAN | ' | ' | ' |
Note 19 - Segment and Geographic Information (Details) - Net Sales by Geographic Area [Line Items] | ' | ' | ' |
Net sales | 6,393 | 5,685 | 6,161 |
Europe (excluding Germany) [Member] | ' | ' | ' |
Note 19 - Segment and Geographic Information (Details) - Net Sales by Geographic Area [Line Items] | ' | ' | ' |
Net sales | 3,999 | 4,765 | 5,628 |
Rest Of World [Member] | ' | ' | ' |
Note 19 - Segment and Geographic Information (Details) - Net Sales by Geographic Area [Line Items] | ' | ' | ' |
Net sales | $9,647 | $12,617 | $13,603 |
Note_19_Segment_and_Geographic5
Note 19 - Segment and Geographic Information (Details) - Major Distributors and Customer of Net Revenue (Net Revenue [Member]) | 12 Months Ended | ||
Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |
Distributor A [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Net Revenue | 27.00% | 30.00% | 31.00% |
Distributor B [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Net Revenue | 21.00% | 11.00% | 11.00% |
Distributor C [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Net Revenue | 12.00% | 10.00% | ' |
Note_19_Segment_and_Geographic6
Note 19 - Segment and Geographic Information (Details) - Major Distributors of Net Account Receivables (Accounts Receivable [Member]) | 12 Months Ended | ||
Mar. 30, 2014 | Mar. 31, 2013 | ||
Distributor B [Member] | ' | ' | |
Note 19 - Segment and Geographic Information (Details) - Major Distributors of Net Account Receivables [Line Items] | ' | ' | |
Net Accounts Receivable | 17.00% | 20.00% | |
Distributor A [Member] | ' | ' | |
Note 19 - Segment and Geographic Information (Details) - Major Distributors of Net Account Receivables [Line Items] | ' | ' | |
Net Accounts Receivable | 16.00% | 21.00% | |
Distributor D [Member] | ' | ' | |
Note 19 - Segment and Geographic Information (Details) - Major Distributors of Net Account Receivables [Line Items] | ' | ' | |
Net Accounts Receivable | 14.00% | 11.00% | |
Distributor C [Member] | ' | ' | |
Note 19 - Segment and Geographic Information (Details) - Major Distributors of Net Account Receivables [Line Items] | ' | ' | |
Net Accounts Receivable | 12.00% | ' | [1] |
[1] | Net accounts receivable for this distributor for this period were less than 10% of our net accounts receivables. |
Note_20_Allowances_for_Sales_R2
Note 20 - Allowances for Sales Returns and Doubtful Accounts (Details) - Allowance for Sales Returns and Allowance and for Doubtful Accounts (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 | |||
Allowance for Sales Returns [Member] | ' | ' | ' | |||
Allowance for sales returns: | ' | ' | ' | |||
Beginning Balance | $1,084 | $1,429 | $1,245 | |||
Additions | 17,004 | 15,176 | 15,701 | |||
Utilizations | 16,414 | [1] | 15,521 | [1] | 15,517 | [1] |
Ending Balance | 1,674 | 1,084 | 1,429 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Allowance for sales returns: | ' | ' | ' | |||
Beginning Balance | 206 | 167 | 278 | |||
Additions | -25 | 39 | 69 | |||
Utilizations | 70 | [1] | ' | [1] | 180 | [1] |
Ending Balance | $111 | $206 | $167 | |||
[1] | Utilization amounts within allowance for sales returns reflect credits issued to distributors for stock rotations and volume discounts. |
Note_21_Supplementary_Quarterl2
Note 21 - Supplementary Quarterly Financial Data (Unaudited) (Details) - Selected Unaudited Quarterly Financial Data (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Share data in Thousands, except Per Share data, unless otherwise specified | Mar. 30, 2014 | Dec. 29, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Mar. 30, 2014 | Mar. 31, 2013 | Apr. 01, 2012 |
Net sales by end market: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Revenue Net | $27,987,000 | $30,690,000 | $34,018,000 | $32,627,000 | $31,154,000 | $30,999,000 | $30,622,000 | $29,251,000 | $89,595,000 | $85,856,000 | $89,988,000 |
Gross profit | 8,422,000 | 12,826,000 | 13,929,000 | 15,477,000 | 15,296,000 | 14,192,000 | 13,330,000 | 12,869,000 | 50,654,000 | 55,687,000 | 55,924,000 |
Income (loss) from operations | -311,000 | -3,321,000 | -616,000 | 547,000 | 1,309,000 | -353,000 | -373,000 | -1,166,000 | -3,701,000 | -583,000 | -30,593,000 |
Net income (loss) | 147,000 | -1,634,000 | 6,482,000 | 806,000 | 1,672,000 | 1,523,000 | 263,000 | -576,000 | 5,801,000 | 2,882,000 | -28,056,000 |
Net income (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in Dollars per share) | $0 | ($0.03) | $0.14 | $0.02 | $0.04 | $0.03 | $0.01 | ($0.01) | $0.12 | $0.06 | ($0.63) |
Diluted (in Dollars per share) | $0 | ($0.03) | $0.13 | $0.02 | $0.04 | $0.03 | $0.01 | ($0.01) | $0.12 | $0.06 | ($0.63) |
Shares used in the computation of net income (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in Shares) | 47,328 | 47,529 | 47,496 | 46,805 | 46,219 | 45,925 | 45,720 | 45,388 | ' | ' | ' |
Diluted (in Shares) | 48,778 | 47,529 | 49,150 | 48,085 | 47,379 | 46,438 | 46,046 | 45,388 | 48,823 | 46,476 | 44,796 |
Industrial And Embedded Systems [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales by end market: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Revenue Net | 19,588,000 | 18,429,000 | 17,943,000 | 16,498,000 | 15,265,000 | 16,119,000 | 15,923,000 | 16,088,000 | ' | ' | ' |
Networking And Storage [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales by end market: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Revenue Net | 3,310,000 | 7,104,000 | 10,273,000 | 9,907,000 | 9,346,000 | 9,300,000 | 7,656,000 | 6,435,000 | ' | ' | ' |
Communications Infrastructure [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales by end market: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Revenue Net | 5,046,000 | 5,089,000 | 5,697,000 | 5,976,000 | 6,231,000 | 5,270,000 | 6,737,000 | 6,728,000 | ' | ' | ' |
Other Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales by end market: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Revenue Net | $43,000 | $68,000 | $105,000 | $246,000 | $312,000 | $310,000 | $306,000 | ' | ' | ' | ' |
Note_22_Subsequent_Event_Detai
Note 22 - Subsequent Event (Details) | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||
Mar. 30, 2014 | Mar. 31, 2013 | Apr. 26, 2014 | 29-May-14 | 29-May-14 | Apr. 26, 2014 | Apr. 26, 2014 | Mar. 30, 2014 | Mar. 30, 2014 | |
USD ($) | USD ($) | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Future Event June 29, 2014 [Member] | Future Event June 29, 2014 [Member] | |
Stifel Financial Corp. [Member] | Integrated Memory Logic Limited [Member] | Integrated Memory Logic Limited [Member] | Integrated Memory Logic Limited [Member] | Integrated Memory Logic Limited [Member] | Integrated Memory Logic Limited [Member] | Integrated Memory Logic Limited [Member] | |||
Integrated Memory Logic Limited [Member] | USD ($) | TWD | USD ($) | TWD | |||||
USD ($) | |||||||||
Note 22 - Subsequent Event (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Share Price | ' | ' | ' | ' | ' | $3 | 91 | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | ' | ' | ' | 68,319,091 | 68,319,091 | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | 92.00% | 92.00% | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | ' | $206,000,000 | 6,200,000,000 |
Business Combination, Consideration Transferred | ' | ' | ' | ' | ' | ' | ' | 224,000,000 | 6,800,000,000 |
Payments to Acquire Businesses, Net of Cash Acquired | 22,777,000 | 750,000 | ' | ' | ' | ' | ' | 92,000,000 | 2,800,000,000 |
Senior Notes | ' | ' | $90,000,000 | ' | ' | ' | ' | ' | ' |