Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Mar. 14, 2014 | Jun. 29, 2013 | |
Document Documentand Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 28-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'KOPN | ' | ' |
Entity Registrant Name | 'KOPIN CORP | ' | ' |
Entity Central Index Key | '0000771266 | ' | ' |
Current Fiscal Year End Date | '--12-28 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 65,790,407 | ' |
Entity Public Float | ' | ' | $235,280,802 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
Current assets: | ' | ' |
Cash and equivalents | $16,756,666 | $27,135,387 |
Marketable debt securities, at fair value | 95,972,535 | 65,349,962 |
Accounts receivable, net of allowance of $202,000 and $311,000 in 2013 and 2012, respectively | 2,388,461 | 5,254,549 |
Accounts receivable from unconsolidated affiliates | 0 | 84,780 |
Unbilled receivables | 0 | 178,036 |
Inventory | 3,078,055 | 5,789,753 |
Prepaid taxes | 233,642 | 683,032 |
Prepaid expenses and other current assets | 1,178,643 | 917,841 |
Current assets held for sale | 0 | 21,573,729 |
Total current assets | 119,608,002 | 126,967,069 |
Property, plant and equipment, net | 6,034,963 | 8,486,406 |
Goodwill | 1,016,132 | 684,789 |
Intangible assets, net | 1,581,502 | 2,316,924 |
Other assets | 3,024,458 | 8,607,882 |
Accounts and Notes Receivable, Net | 14,866,666 | 0 |
Noncurrent assets held for sale | 0 | 29,145,732 |
Total assets | 146,131,723 | 176,208,802 |
Current liabilities: | ' | ' |
Accounts payable | 3,868,865 | 5,121,324 |
Accrued payroll and expenses | 1,436,391 | 2,147,512 |
Accrued warranty | 716,000 | 716,000 |
Billings in excess of revenue earned | 547,681 | 1,220,395 |
Other accrued liabilities | 3,157,394 | 2,563,797 |
Deferred tax liabilities | 1,512,771 | 1,304,513 |
Current liabilities held for sale | 0 | 7,102,895 |
Total current liabilities | 11,239,102 | 20,176,436 |
Asset retirement obligations | 329,435 | 322,477 |
Noncurrent liabilities held for sale | 0 | 623,979 |
Commitments and contingencies | ' | ' |
Stockholders’ equity: | ' | ' |
Preferred stock, par value $.01 per share: authorized, 3,000 shares; none issued | 0 | 0 |
Common stock, par value $.01 per share: authorized, 120,000,000 shares; issued 77,567,631 shares in 2013 and 75,979,695 shares in 2012; outstanding 62,560,946 in 2013 and 63,835,508 in 2012, respectively | 745,935 | 736,966 |
Additional paid-in capital | 320,511,458 | 318,928,495 |
Treasury stock (12,032,537 and 9,861,139 shares in 2013 and 2012, respectively, at cost) | -42,442,932 | -34,450,978 |
Accumulated other comprehensive income | 3,441,997 | 6,512,792 |
Accumulated deficit | -147,703,211 | -142,993,595 |
Total Kopin Corporation stockholders’ equity | 134,553,247 | 148,733,680 |
Noncontrolling interest | 9,939 | 6,352,230 |
Total stockholders’ equity | 134,563,186 | 155,085,910 |
Total liabilities and stockholders’ equity | $146,131,723 | $176,208,802 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
Accounts receivable, allowance | $202,000 | $513,000 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, authorized | 3,000 | 3,000 |
Preferred stock, issued | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized | 120,000,000 | 120,000,000 |
Common stock, issued | 77,567,631 | 75,979,695 |
Common stock, outstanding | 62,560,978 | 63,835,508 |
Treasury stock, shares | 12,032,537 | 9,861,139 |
CONSOLIDATED_STATEMENT_OF_OPER
CONSOLIDATED STATEMENT OF OPERATIONS (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Revenues: | ' | ' | ' |
Net product revenues | $20,574,812 | $31,298,419 | $59,508,959 |
Research and development revenues | 2,322,897 | 3,343,441 | 5,149,644 |
Total revenues | 22,897,709 | 34,641,860 | 64,658,603 |
Expenses: | ' | ' | ' |
Cost of product revenues | 20,655,216 | 22,041,953 | 34,659,020 |
Research and development-funded programs | 1,550,873 | 2,178,472 | 3,341,075 |
Research and development-internal | 15,983,147 | 12,121,689 | 13,218,018 |
Selling, general and administrative | 19,124,750 | 17,165,870 | 15,990,881 |
Goodwill and Intangible Asset Impairment | 1,511,414 | 1,704,770 | 4,999,512 |
Total expenses | 58,825,400 | 55,212,754 | 72,208,506 |
Loss from operations | -35,927,691 | -20,570,894 | -7,549,903 |
Other income and expense: | ' | ' | ' |
Interest income | 1,118,617 | 1,126,344 | 1,291,591 |
Other income and (expense), net | 235,917 | 173,829 | 142,948 |
Foreign currency transaction (losses) gains | -387,351 | -1,032,588 | 9,672 |
Gain on sales of investments | 1,899,291 | 856,170 | 368,641 |
Loss on investment in Ikanos | 0 | -557,594 | 0 |
Other-than-temporary impairment of marketable debt securities | 0 | 0 | -150,644 |
Asset Impairment Charges | -5,000,442 | 0 | 0 |
Gain on sales of patents | 0 | 0 | 155,658 |
Total other income and expense | -2,133,968 | 566,161 | 1,817,866 |
Loss from continuing operations before benefit (provision) for income taxes, and equity losses in unconsolidated affiliates and net loss (income) of noncontrolling interest | -38,061,659 | -20,004,733 | -5,732,037 |
Tax benefit (provision) | 12,933,209 | -1,099,000 | 0 |
Loss before equity losses in unconsolidated affiliates and net loss (income) of noncontrolling interest | -25,128,450 | -21,103,733 | -5,732,037 |
Equity losses in unconsolidated affiliates | -625,098 | -679,587 | -296,451 |
Loss from continuing operations | -25,753,548 | -21,783,320 | -6,028,488 |
Income from discontinued operations, net of tax | 20,147,532 | 2,789,048 | 9,713,059 |
Net (loss) income | -5,606,016 | -18,994,272 | 3,684,571 |
Net loss (income) attributable to the noncontrolling interest | 896,400 | 632,342 | -605,207 |
Net (loss) income attributable to the controlling interest | -4,709,616 | -18,361,930 | 3,079,364 |
Basic: | ' | ' | ' |
Continuing operations (in dollars per share) | ($0.40) | ($0.33) | ($0.10) |
Discontinued operations (in dollars per share) | $0.32 | $0.04 | $0.15 |
Net (loss) income per share (in dollars per share) | ($0.08) | ($0.29) | $0.05 |
Diluted: | ' | ' | ' |
Continuing operations (in dollars per share) | ($0.40) | ($0.33) | ($0.10) |
Discontinued operations (in dollars per share) | $0.32 | $0.04 | $0.15 |
Net (loss) income per share (in dollars per share) | ($0.08) | ($0.29) | $0.05 |
Weighted average number of common shares outstanding: | ' | ' | ' |
Basic (in shares) | 62,347,852 | 63,617,680 | 64,405,776 |
Diluted (in shares) | 62,347,852 | 63,617,680 | 65,234,212 |
Foreign currency translation adjustments | 231,321 | 2,687,344 | -1,368,829 |
Unrealized holding (loss) gain on marketable securities | -116,134 | 730,967 | -260,502 |
Reclassifications of gains in net loss | -1,936,121 | -586,433 | -457,808 |
Other comprehensive income (loss) | -1,820,934 | 2,831,878 | -2,087,139 |
Comprehensive (loss) income | -7,426,950 | -16,162,394 | 1,597,432 |
Comprehensive gain (loss) attributable to the noncontrolling interest | 871,867 | 167,232 | -357,389 |
Comprehensive (loss) income attributable to the controlling interest | ($6,555,083) | ($15,995,162) | $1,240,043 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock | Additional Paid-in Capital | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Total Kopin Corporation Stockholders' Equity | Noncontrolling Interest | Stockholders' Equity, Total [Member] |
Beginning Balance at Dec. 25, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options (in shares) | ' | 19,700 | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | $72,445 | $197 | $72,248 | ' | ' | ' | $72,445 | ' | ' |
Vesting of restricted stock (in shares) | ' | 897,953 | ' | ' | ' | ' | ' | ' | ' |
Vesting of restricted stock | ' | 8,980 | -8,980 | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 3,361,948 | ' | 3,361,948 | ' | ' | ' | 3,361,948 | ' | ' |
Other comprehensive income (loss) | -2,087,139 | ' | ' | ' | -1,839,321 | ' | -1,839,321 | -247,818 | ' |
Restricted stock for tax withholding obligations (in shares) | ' | -262,230 | ' | ' | ' | ' | ' | ' | ' |
Restricted stock for tax withholding obligations | -1,029,567 | -2,622 | -1,026,945 | ' | ' | ' | -1,029,567 | ' | ' |
Treasury stock purchase | -4,414,626 | ' | ' | -4,414,626 | ' | ' | -4,414,626 | ' | ' |
Net income (loss) | 3,684,571 | ' | ' | ' | ' | 3,079,364 | 3,079,364 | 605,207 | ' |
Ending Balance at Dec. 31, 2011 | 170,096,756 | 732,263 | 315,710,160 | -30,995,449 | 4,146,024 | -124,631,666 | 164,961,332 | 5,135,423 | ' |
Ending Balance (in shares) at Dec. 31, 2011 | ' | 73,226,258 | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 0 | ' | ' | ' | ' | ' | 0 | ' | ' |
Vesting of restricted stock (in shares) | ' | 671,568 | ' | ' | ' | ' | ' | ' | ' |
Vesting of restricted stock | ' | 6,716 | -6,716 | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 3,851,672 | ' | 3,851,672 | ' | ' | ' | 3,851,672 | ' | ' |
Other comprehensive income (loss) | 2,831,878 | ' | ' | ' | 2,366,768 | ' | 2,366,768 | 465,110 | ' |
Acquisition of KTC (2010) and Ikanos (2012) and eMDT (2013) equity interest | ' | ' | ' | ' | ' | ' | ' | 1,384,039 | ' |
Stockholders' Equity Attributable to Noncontrolling Interest | 6,352,230 | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock for tax withholding obligations (in shares) | ' | -201,182 | ' | ' | ' | ' | ' | ' | ' |
Restricted stock for tax withholding obligations | -628,634 | -2,013 | -626,621 | ' | ' | ' | -628,634 | ' | ' |
Treasury stock purchase | -3,455,529 | ' | ' | -3,455,529 | ' | ' | -3,455,529 | ' | ' |
Net income (loss) | -18,994,272 | ' | ' | ' | ' | -18,361,930 | -18,361,930 | -632,342 | ' |
Ending Balance at Dec. 29, 2012 | 155,085,910 | 736,966 | 318,928,495 | -34,450,978 | 6,512,792 | -142,993,595 | 148,733,680 | 6,352,230 | ' |
Ending Balance (in shares) at Dec. 29, 2012 | ' | 73,696,644 | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options (in shares) | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting of restricted stock (in shares) | ' | 1,216,900 | ' | ' | ' | ' | ' | ' | ' |
Vesting of restricted stock | ' | 12,169 | -12,169 | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 3,804,408 | ' | 3,804,408 | ' | ' | ' | 3,804,408 | ' | ' |
Other comprehensive income (loss) | -1,820,934 | ' | ' | ' | -1,845,466 | ' | ' | 24,532 | ' |
Proceeds from Sales of Business, Affiliate and Productive Assets | -4,253,680 | ' | ' | ' | -1,580,629 | ' | ' | -2,673,051 | ' |
Acquisition of KTC (2010) and Ikanos (2012) and eMDT (2013) equity interest | 200,198 | ' | ' | ' | ' | ' | ' | 200,198 | ' |
Stockholders' Equity Attributable to Noncontrolling Interest | 9,939 | ' | -1,020,130 | ' | 355,300 | ' | -664,830 | -2,997,570 | -3,662,400 |
Restricted stock for tax withholding obligations (in shares) | ' | -320,061 | ' | ' | ' | ' | ' | ' | ' |
Restricted stock for tax withholding obligations | -1,192,346 | -3,200 | -1,189,146 | ' | ' | ' | -1,192,346 | ' | ' |
Treasury stock purchase | -7,991,954 | ' | ' | -7,991,954 | ' | ' | -7,991,954 | ' | ' |
Net income (loss) | -5,606,016 | ' | ' | ' | ' | -4,709,616 | -4,709,616 | -896,400 | ' |
Ending Balance at Dec. 28, 2013 | $134,563,186 | $745,935 | $320,511,458 | ($42,442,932) | $3,441,997 | ($147,703,211) | $134,553,247 | $9,939 | ' |
Ending Balance (in shares) at Dec. 28, 2013 | ' | 74,593,483 | ' | ' | ' | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Cash flows from operating activities: | ' | ' | ' |
Net (loss) income | ($5,606,016) | ($18,994,272) | $3,684,571 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 3,646,725 | 9,111,943 | 8,598,672 |
Accretion (amortization) of premium or discount on marketable debt securities | 360,403 | -287,439 | -152,665 |
Stock-based compensation | 4,203,408 | 4,486,990 | 3,923,628 |
Net gain on investment transactions | -1,899,291 | -856,170 | -368,641 |
Losses in unconsolidated affiliates | 625,098 | 679,587 | 296,451 |
Impairment on marketable debt securities | 0 | 0 | 150,644 |
Goodwill and Intangible Asset Impairment | 1,511,414 | 1,704,770 | 4,999,512 |
Gain (Loss) on Sale of Business | -33,452,176 | ' | ' |
Release of valuation allowance on deferred tax assets | 0 | 0 | -4,266,000 |
Deferred income taxes | 252,687 | 2,162,246 | 0 |
Foreign currency losses | 341,590 | 1,236,194 | 14,150 |
Loss on remeasurement of investment in Ikanos | 0 | 557,594 | 0 |
Asset Impairment Charges | 5,000,442 | 0 | 0 |
Change in allowance for bad debt | -107,694 | -129,370 | -224,644 |
Change in warranty reserves | 733,428 | 402,938 | 379,246 |
Changes in assets and liabilities: | ' | ' | ' |
Accounts receivable | 4,853,073 | 4,363,447 | 256,190 |
Inventory | 2,262,547 | 3,466,568 | 993,328 |
Prepaid expenses and other current assets | -179,858 | 126,580 | 1,055,482 |
Accounts payable and accrued expenses | -773,471 | -2,996,339 | 655,611 |
Billings in excess of revenue earned | -672,714 | -1,247,066 | -743,434 |
Net cash (used in) provided by operating activities | -18,900,405 | 3,788,201 | 19,252,101 |
Cash flows from investing activities: | ' | ' | ' |
Proceeds from sale of marketable debt securities | 17,130,488 | 37,305,871 | 40,732,353 |
Purchase of marketable debt securities | -49,329,891 | -39,853,837 | -42,345,935 |
Proceeds from Divestiture of Businesses, Net of Cash Divested | 55,188,020 | ' | ' |
Cash included in current assets held for sale | 0 | -2,388,812 | 0 |
Cash paid to acquire Ikanos, net of cash acquired | 0 | 93,872 | 0 |
Payments to Acquire Business Three, Net of Cash Acquired | 211,484 | ' | ' |
Cash paid to acquire FDD, net of cash acquired | 0 | 94,351 | -10,084,307 |
Purchases of cost based investment | -3,583,611 | -2,249,784 | -1,980,609 |
Proceeds from sale of investments | 2,597,289 | 856,170 | 392,196 |
Other assets | -10,552 | 43,564 | 16,906 |
Capital expenditures | -741,543 | -9,831,967 | -7,132,371 |
Net cash provided by (used in) investing activities | 21,461,684 | -15,930,572 | -20,401,767 |
Cash flows from financing activities: | ' | ' | ' |
Treasury stock purchases | -7,991,954 | -3,455,529 | -4,414,626 |
Purchase of noncontrolling interest in Kowon | -3,662,400 | 0 | 0 |
Settlements of restricted stock for tax withholding obligations | -1,192,346 | -628,634 | -1,029,567 |
Proceeds from exercise of stock options | 0 | 0 | 72,445 |
Net cash used in financing activities | -12,846,700 | -4,084,163 | -5,371,748 |
Effect of exchange rate changes on cash | -93,300 | 266,758 | -217,970 |
Net decrease in cash and equivalents | -10,378,721 | -15,959,776 | -6,739,384 |
Cash and equivalents: | ' | ' | ' |
Beginning of year | 27,135,387 | 43,095,163 | ' |
End of year | 16,756,666 | 27,135,387 | 43,095,163 |
Supplemental disclosure of cash flow information: | ' | ' | ' |
Income taxes paid | 95,000 | 75,000 | 186,000 |
Supplemental schedule of noncash investing activities: | ' | ' | ' |
Construction in progress included in accrued expenses | 105,000 | 360,000 | 469,000 |
Notes Receivable, Fair Value Disclosure | $14,866,000 | ' | ' |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||||||
Summary of Significant Accounting Policies | ||||||||||||||||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||||||
Fiscal Year | ||||||||||||||||
The Company’s fiscal year ends on the last Saturday in December. The fiscal years ended December 28, 2013 and December 29, 2012 include 52 weeks, and the fiscal year ended December 31, 2011 includes 53 weeks, and are referred to as fiscal years 2013, 2012 and 2011, respectively, herein. | ||||||||||||||||
Principles of Consolidation | ||||||||||||||||
The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, a majority owned 93% subsidiary, Kowon Technology Co., Ltd. (Kowon), located in Korea, a majority owned (58)% subsidiary, Ikanos Consulting Ltd. (Ikanos), located in the United Kingdom, and a majority owned (51)% subsidiary, eMDT America Inc (eMDT), located in California (collectively the Company). All intercompany transactions and balances have been eliminated. Amounts of Kowon, Ikanos and eMDT not attributable to the Company are referred to as noncontrolling interests in the consolidated statements of operations and consolidated statements of comprehensive (loss) income. Investments in business entities in which the Company does not have control but has the ability to exercise significant influence over operating and financial policies are accounted for by the equity method. | ||||||||||||||||
In 2013, the Company paid approximately $3.7 million to acquire an additional 15% ownership in its Kowon subsidiary which raised its ownership from 78% to 93%. The Company ceased its production activities at its Kowon facility in 2013 but as of December 28, 2013, the closure of this facility did not meet the criteria for assets held for sale. | ||||||||||||||||
Revenue Recognition | ||||||||||||||||
The Company recognizes revenue if four basic criteria have been met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred and services rendered; (3) the price to the buyer is fixed or determinable; and (4) collectability is reasonably assured. The Company does not recognize revenue for products prior to customer acceptance unless it believes the product meets all customer specifications and the Company has a history of consistently achieving customer acceptance of the product. Provisions for product returns and allowances are recorded in the same period as the related revenues. The Company analyzes historical returns, current economic trends and changes in customer demand and acceptance of product when evaluating the adequacy of sales returns and other allowances. Certain product sales are made to distributors under agreements allowing for a limited right of return on unsold products. Sales to distributors are primarily made for sales to the distributor’s customers and not for their stocking of inventory. The Company delays revenue recognition for its estimate of distributor claims of right of return on unsold products based upon its historical experience with the Company’s products and specific analysis of amounts subject to return based upon discussions with the Company’s distributors or their customers. | ||||||||||||||||
The Company recognizes revenues from long-term research and development contracts on the percentage-of-completion method of accounting as work is performed, based upon the ratio of costs or hours already incurred to the estimated total cost of completion or hours of work to be performed. Revenue recognized at any point in time is limited to the amount funded by the U.S. government or contracting entity. The Company accounts for product development and research contracts that have established prices for distinct phases as if each phase were a separate contract. In some instances, the Company is contracted to create a deliverable which is anticipated to be qualified and go into full rate production stages. In those cases, the revenue recognition methodology will change from the percentage of completion method to the units-of-delivery method as new contracts are received after formal qualification has been completed. | ||||||||||||||||
The Company classifies amounts earned on contracts in progress that are in excess of amounts billed as unbilled receivables and classifies amounts received in excess of amounts earned as billings in excess of revenues earned. The Company invoices based on dates specified in the related agreement or in periodic installments based upon its invoicing cycle. The Company recognizes the entire amount of an estimated ultimate loss in its financial statements at the time the loss on a contract becomes known. | ||||||||||||||||
Research and Development Costs | ||||||||||||||||
Research and development expenses are incurred in support of internal display product development programs or programs funded by agencies or prime contractors of the U.S. government and commercial partners. Research and development costs include staffing, purchases of materials and laboratory supplies, circuit design costs, fabrication and packaging of experimental display products, and overhead, and are expensed immediately. | ||||||||||||||||
Cash and Equivalents and Marketable Securities | ||||||||||||||||
The Company considers all highly liquid, short-term debt instruments with original maturities of three months or less to be cash equivalents. | ||||||||||||||||
Marketable debt securities consist primarily of commercial paper, medium-term corporate notes, and United States government and agency backed securities. The Company classifies these marketable debt securities as available-for-sale at fair value in “Marketable debt securities, at fair value.” In fiscal year 2013, the investment in Vuzix Corporation (Vuzix) was included in "Other Assets" as available-for-sale and at fair value. In fiscal year 2012, the investments in Advanced Wireless Semiconductor Company (AWSC) and WIN Semiconductor Corp. (WIN) were included in “Other assets” as available-for-sale and at fair value and these securities were sold in 2013. The Company records the amortization of premium and accretion of discounts on marketable debt securities in the results of operations. | ||||||||||||||||
The Company uses the specific identification method as a basis for determining cost and calculating realized gains and losses with respect to marketable debt securities. The gross gains and losses realized related to sales of marketable debt securities were not material during fiscal years 2013, 2012 and 2011. | ||||||||||||||||
Inventory | ||||||||||||||||
Inventory is stated at the lower of cost (determined on the first-in, first-out method) or market and consists of the following at December 28, 2013 and December 29, 2012: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Raw materials | $ | 1,441,569 | $ | 2,540,497 | ||||||||||||
Work-in-process | 1,003,540 | 1,880,202 | ||||||||||||||
Finished goods | 632,946 | 1,369,054 | ||||||||||||||
$ | 3,078,055 | $ | 5,789,753 | |||||||||||||
Property, plant and equipment | ||||||||||||||||
Property, plant and equipment are recorded at cost. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the assets, generally 3 to 10 years. Leasehold improvements and leased equipment are amortized over the shorter of the term of the lease or the useful life of the improvement or equipment. As discussed below, obligations for asset retirement are accrued at the time property, plant and equipment is initially purchased or as such obligations are generated from use. | ||||||||||||||||
Intangible assets | ||||||||||||||||
Intangible assets include patents, customer relationships, developed technology and trademarks. Customer relationships represent the fair value of the underlying relationships with customers. Developed technology represents the fair value of technology as it exists in current products and has value through its continued use or reuse. The trademark represents the brand and name recognition associated with the marketing of products and was determined to have a finite life. | ||||||||||||||||
Identifiable intangible assets are amortized using the straight-line method over the estimated useful lives of the assets, generally three to seven years. | ||||||||||||||||
Product Warranty | ||||||||||||||||
The Company generally sells products with a limited warranty of product quality and a limited indemnification of customers against intellectual property infringement claims related to the Company’s products. The Company accrues for known warranty and indemnification issues if a loss is probable and can be reasonably estimated, and accrues for estimated incurred but unidentified issues based on historical activity. As of December 28, 2013 and December 29, 2012, the Company had warranty reserves of $0.7 million. For the fiscal years 2013, 2012 and 2011 warranty claims and reversals were approximately $0.8 million, $2.2 million and $1.4 million, respectively. | ||||||||||||||||
Asset Retirement Obligations | ||||||||||||||||
The Company recorded asset retirement obligations (ARO) liabilities of $0.3 million at December 28, 2013 and December 29, 2012, respectively. This represents the legal obligations associated with retirement of the Company’s assets when the timing and/or method of settling the obligation are conditional on a future event that may or may not be within the control of the Company. | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Beginning balance | $ | 322,477 | $ | 1,295,670 | ||||||||||||
Additions | — | 32,360 | ||||||||||||||
Charges | — | (424,785 | ) | |||||||||||||
Accretion and exchange rate change | 6,958 | 43,211 | ||||||||||||||
Reclassified to noncurrent liabilities held for sale | — | (623,979 | ) | |||||||||||||
Ending balance | $ | 329,435 | $ | 322,477 | ||||||||||||
Income Taxes | ||||||||||||||||
The consolidated financial statements reflect provisions for federal, state, local and foreign income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company provides valuation allowances if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | ||||||||||||||||
Foreign Currency | ||||||||||||||||
Assets and liabilities of non-U.S. operations where the functional currency is other than the U.S. dollar are translated from the functional currency into U.S. dollars at year end exchange rates, and revenues and expenses at average rates prevailing during the year. Resulting translation adjustments are accumulated as part of accumulated other comprehensive income. Transaction gains or losses are recognized in income or loss in the period in which they occur. | ||||||||||||||||
Net (Loss) Income Per Share | ||||||||||||||||
Basic net (loss) income per share is computed using the weighted-average number of shares of common stock outstanding during the period less any unvested restricted shares. Diluted earnings per common share is calculated using weighted-average shares outstanding and contingently issuable shares, less weighted-average shares reacquired during the period. The net outstanding shares are adjusted for the dilutive effect of shares issuable upon the assumed conversion of the Company’s common stock equivalents, which consist of outstanding stock options and unvested restricted stock. | ||||||||||||||||
Weighted-average common shares outstanding used to calculate earnings per share, is as follows: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Weighted-average common shares outstanding—basic | 62,347,852 | 63,617,680 | 64,405,776 | |||||||||||||
Stock options and nonvested restricted common stock | — | — | 828,436 | |||||||||||||
Weighted-average common shares outstanding—diluted | 62,347,852 | 63,617,680 | 65,234,212 | |||||||||||||
The following were not included in weighted-average common shares outstanding- diluted because they are anti-dilutive or performance conditions have not been met at the end of the period. | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Nonvested restricted common stock | 3,024,148 | 2,283,048 | 613,934 | |||||||||||||
Stock options | 558,850 | 983,680 | 1,561,925 | |||||||||||||
Total | 3,582,998 | 3,266,728 | 2,175,859 | |||||||||||||
Concentration of Credit Risk | ||||||||||||||||
Financial instruments that potentially subject the Company to concentration of credit risk other than marketable securities consist principally of trade accounts receivable and the note receivable from IQE, plc. Trade receivables are primarily derived from sales to manufacturers of consumer electronic devices and wireless components or military applications. | ||||||||||||||||
The Company primarily invests its excess cash in government backed and corporate financial instruments that management believes to be of high credit worthiness, which bear lower levels of relative credit risk. The Company relies on rating agencies to ascertain the credit worthiness of its marketable securities and, where applicable, guarantees by the Federal Deposit Insurance Company. The Company sells its products to customers worldwide and generally does not require collateral. The Company maintains a reserve for potential credit losses. | ||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||
Financial instruments consist of current assets (except inventories, income tax receivables and prepaid assets) and certain current liabilities. Current assets (excluding marketable securities which are recorded at fair value) and current liabilities are carried at cost, which approximates fair value. | ||||||||||||||||
Stock-Based Compensation | ||||||||||||||||
The fair value of stock option awards is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. There were no stock options granted in fiscal years 2013, 2012 or 2011. | ||||||||||||||||
The fair value of nonvested restricted common stock awards is generally the market value of the Company’s equity shares on the date of grant. The nonvested restricted common stock awards require the employee to fulfill certain obligations, including remaining employed by the Company for one, two or four years (the vesting period) and in certain cases also require meeting either performance criteria or the Company’s stock achieving a certain price. The performance criteria primarily consist of the achievement of the Company’s annual incentive plan goals. For nonvested restricted common stock awards which solely require the recipient to remain employed with the Company, the stock compensation expense is amortized over the anticipated service period. For nonvested restricted common stock awards which require the achievement of performance criteria, the Company reviews the probability of achieving the performance goals on a periodic basis. If the Company determines that it is probable that the performance criteria will be achieved, the amount of compensation cost derived for the performance goal is amortized over the service period. If the performance criteria are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. The Company recognizes compensation costs on a straight-line basis over the requisite service period for time vested awards. | ||||||||||||||||
In 2013, the Company granted compensation awards to its Chief Executive Officer that consisted of two grants of 150,000 shares of restricted stock each. One of the grants will vest at the end of the first 10 consecutive trading day period following the grant date during which the Company’s common stock trades at a price per share equal to or greater than $6.00. The other award will vest at the end of the first 10 consecutive trading day period following the grant date during which the Company’s common stock trades at a price per share equal to or greater than $7.00. In 2011, the Company granted compensation awards to its Chief Executive Officer that consisted of a grant of 260,000 shares of restricted stock and a grant of 380,000 shares of phantom stock to be settled in cash. The 260,000 shares of restricted stock and the 380,000 shares of phantom stock will vest at the end of the first 10 consecutive trading day period following the grant date during which the Company’s common stock trades at a price per share equal to or greater than $5.25, prior to September 12, 2016. The vesting of the awards upon achieving a closing stock price of $6.00, $7.00 and $5.25 for 10 consecutive days is considered a market condition. The accounting for the 150,000, 150,000 and 260,000 shares requires the fair market value of the shares to be determined on the grant day and then this fair market value is expensed straight-line over the derived service period. The accounting for the phantom stock award requires the Company to periodically assess the fair market value of the award, with increases or decrease in the fair market value being reflected in the statements of operations. | ||||||||||||||||
In 2013, the Company granted a compensation award to its Chief Executive Officer that consisted of a grant of 300,000 shares of restricted stock that will vest upon the Company shipping 50,000 units of a new display. The compensation cost of this award will be recognized over the period the Company ships the displays. As of December 28, 2013, these awards were not yet earned and no compensation expense has been recorded. | ||||||||||||||||
Comprehensive (Loss) Income | ||||||||||||||||
Comprehensive (loss) income is the total of net income and all other non-owner changes in equity including such items as unrealized holding (losses) gains on marketable equity and debt securities classified as available-for-sale and foreign currency translation adjustments. | ||||||||||||||||
The components of accumulated other comprehensive income are as follows: | ||||||||||||||||
Cumulative | Unrealized Holding | Non-Credit | Accumulated Other | |||||||||||||
Translation | (Loss) Gain on | Related | Comprehensive | |||||||||||||
Adjustment | Marketable | Losses on | Income (Loss) | |||||||||||||
Securities | Investments | |||||||||||||||
Balance as of December 25, 2010 | $ | 2,440,881 | $ | 3,797,302 | $ | (252,838 | ) | $ | 5,985,345 | |||||||
Changes during year | (1,121,011 | ) | (971,148 | ) | 252,838 | (1,839,321 | ) | |||||||||
Balance as of December 31, 2011 | 1,319,870 | 2,826,154 | — | 4,146,024 | ||||||||||||
Changes during year | 2,222,234 | 144,534 | — | 2,366,768 | ||||||||||||
Balance as of December 29, 2012 | 3,542,104 | 2,970,688 | — | 6,512,792 | ||||||||||||
Changes during year | (1,017,403 | ) | (2,053,392 | ) | — | (3,070,795 | ) | |||||||||
Balance as of December 28, 2013 | $ | 2,524,701 | $ | 917,296 | $ | — | $ | 3,441,997 | ||||||||
Assets Held for Sale | ||||||||||||||||
Assets and liabilities held for sale as of December 29, 2012 pertain to applicable assets and liabilities of the Company's III-V product line and its investment in Kopin Taiwan Corporation. The Company finalized the sale on January 16, 2013. | ||||||||||||||||
Impairment of Long-Lived Assets | ||||||||||||||||
The Company periodically reviews the carrying value of our long-lived assets to determine if facts and circumstances suggest that they may be impaired or that the amortization or depreciation period may need to be changed. The carrying value of a long-lived asset is considered impaired when the anticipated identifiable undiscounted cash flows from such asset are less than its carrying value. For assets that are to be held and used, impairment is measured based upon the amount by which the carrying amount of the asset exceeds its fair value. The carrying value of the Company’s long-lived assets was $6.0 million at December 28, 2013. | ||||||||||||||||
Recently Adopted Accounting Pronouncements | ||||||||||||||||
Statement of Comprehensive Income | ||||||||||||||||
In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU No. 2013-02 requires 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 United States Generally Accepted Accounting Principles (U.S. 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. ASU No. 2013-02 is effective for reporting periods beginning after December 15, 2012. The Company adopted this ASU on December 30, 2012 with no impact on its financial statements. | ||||||||||||||||
During the twelve months ended December 28, 2013, the change in the Company's accumulated other comprehensive income was the net of $0.2 million cumulative translation adjustment, $(0.1) million unrealized holding losses on marketable securities, $(1.9) million of reclassified holding gains, $(1.6) million related to the sale of its III-V product line and $0.4 million million related to its acquisition of additional noncontrolling interest in Kowon. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Discontinued Operations | ' | |||||||||||
Discontinued Operations | ||||||||||||
On January 16, 2013, (the Closing Date), the Company sold its III-V product line, including all of the outstanding equity interest in KTC Wireless, LLC, a wholly owned subsidiary of the Company that held the Company's investment in KTC, to IQE KC, LLC (IQE) and IQE plc (Parent, and collectively with IQE, the Buyer) pursuant to a Purchase Agreement (the Purchase Agreement) entered into on January 10, 2013 for an aggregate purchase price of approximately $75 million, subject to certain adjustments, including working capital adjustments and escrow (the Sale). After adjustments for working capital items the final purchase price was $70.2 million of which $55.2 million was paid to the Company in 2013 and the remaining $15 million will be paid to the Company on the third anniversary of the Closing Date. Payment of the $15 million was recorded at its estimated discount value of $14.8 million and is secured by liens on certain assets of the business sold. | ||||||||||||
The operating results of the III-V product line prior to the sale are reported within Income from discontinued operations, net of tax, in the consolidated statement of operations and have been excluded from segment results. The assets and liabilities associated with the III-V product line are presented in current assets held for sale, noncurrent assets held for sale, current liabilities held for sale and noncurrent liabilities held for sale in the Consolidated Balance Sheet as of December 29, 2012. | ||||||||||||
The following table summarizes the results from discontinued operations: | ||||||||||||
Fiscal Years Ended (in millions) | ||||||||||||
28-Dec-13 | 29-Dec-12 | December 31, 2011 | ||||||||||
Net product and research and development revenues | $ | 2.3 | $ | 58.8 | $ | 66.5 | ||||||
(Loss) gain from discontinued operations before income taxes | (0.2 | ) | 4.5 | 5.9 | ||||||||
(Provision) benefit for income taxes on discontinued operations | — | (1.7 | ) | 3.8 | ||||||||
Discontinued operations, net of tax | (0.2 | ) | 2.8 | 9.7 | ||||||||
Gain on sale, net of $13.1 million of tax | 20.4 | — | — | |||||||||
Income from discontinued operations, net of tax | $ | 20.2 | $ | 2.8 | $ | 9.7 | ||||||
The following table summarizes the assets and the liabilities held for sale in the Company's consolidated balance sheet as of December 29, 2012: | ||||||||||||
(in millions) | ||||||||||||
Current assets | ||||||||||||
Cash and equivalents | $ | 2.4 | ||||||||||
Accounts receivable, net of allowance of $0.1 million | 7.6 | |||||||||||
Accounts receivable from unconsolidated affiliates | 0.6 | |||||||||||
Inventory | 10.6 | |||||||||||
Prepaid taxes | 0.2 | |||||||||||
Prepaid expenses and other current assets | 0.2 | |||||||||||
Total current assets held for sale | 21.6 | |||||||||||
Property, plant and equipment, net | 25.7 | |||||||||||
Deferred tax assets | 3.3 | |||||||||||
Other assets | 0.1 | |||||||||||
Total noncurrent assets held for sale | 29.1 | |||||||||||
Total assets held for sale | $ | 50.7 | ||||||||||
Current liabilities | ||||||||||||
Accounts payable | $ | 3.7 | ||||||||||
Accrued payroll and expenses | 1.8 | |||||||||||
Accrued warranty | 0.2 | |||||||||||
Other accrued liabilities | 1.4 | |||||||||||
Total current liabilities held for sale | $ | 7.1 | ||||||||||
Total noncurrent liabilities held for sale | $ | 0.6 | ||||||||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||||
Dec. 28, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Property, Plant and Equipment | ' | |||||||||
Property, Plant and Equipment | ||||||||||
Property, plant and equipment consisted of the following at December 28, 2013 and December 29, 2012: | ||||||||||
Useful Life | 2013 | 2012 | ||||||||
Land | $ | 915,595 | $ | 901,934 | ||||||
Buildings | 10 years | 2,398,188 | 2,424,152 | |||||||
Equipment | 3-5 years | 20,993,220 | 23,219,534 | |||||||
Leasehold improvements | Life of the lease | 3,441,553 | 11,157,960 | |||||||
Furniture and fixtures | 3 years | 910,270 | 783,030 | |||||||
Equipment under construction | 623,503 | 1,673,390 | ||||||||
29,282,329 | 40,160,000 | |||||||||
Accumulated depreciation and amortization | (23,247,366 | ) | (31,673,594 | ) | ||||||
Net property, plant and equipment | $ | 6,034,963 | $ | 8,486,406 | ||||||
There were no material gains or losses on disposals of long-lived assets in fiscal years 2013, 2012 and 2011. Depreciation expense for the fiscal years 2013, 2012 and 2011 was approximately $2.4 million, $3.5 million and $3.8 million, respectively. |
Other_Assets_and_Amounts_Due_t
Other Assets and Amounts Due to / Due From Affiliates | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Other Assets and Related Party Transactions Disclosure [Abstract] | ' | |||||||||||
Other Assets and Amounts Due To / Due From Affiliates | ' | |||||||||||
Other Assets and Note Receivable | ||||||||||||
Other assets consist of the following as of December 28, 2013 and December 29, 2012: | ||||||||||||
2013 | 2012 | |||||||||||
Marketable Equity Securities | ||||||||||||
AWSC | $ | — | $ | 1,764,657 | ||||||||
WIN | — | 1,410,388 | ||||||||||
Vuzix Corporation | 1,433,102 | — | ||||||||||
Non-Marketable Securities—Equity Method Investments | ||||||||||||
KoBrite | 1,421,592 | 1,828,404 | ||||||||||
Non-Marketable Securities-Cost Based Investments | — | 3,485,394 | ||||||||||
Other | 169,764 | 119,039 | ||||||||||
$ | 3,024,458 | $ | 8,607,882 | |||||||||
Marketable Equity Securities | ||||||||||||
As of December 28, 2013, the Company had an investment in Vuzix with a fair market value of $1.4 million and an adjusted cost basis of $0. In 2013, the Company sold its investments in Advanced Wireless Semiconductor Company (AWSC) and WIN Semiconductor Corp. (WIN) for $1.2 million and $1.4 million, respectively, and recorded a gain on the sale of the investments of $1.9 million. As of December 29, 2012, the Company had an investment in WIN, with a fair market value of $1.4 million and an adjusted cost basis of $0. In the twelve month period ended December 29, 2012 the Company sold 500,000 shares of WIN and recorded a gain of $0.9 million. As of December 29, 2012, the Company had an investment in AWSC, with a fair market value of $1.8 million and an adjusted cost basis of $0.7 million. | ||||||||||||
The table below shows amounts sold by the Company (revenues) from AWSC which are reflected in discontinued operations: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
AWSC | $ | — | $ | 8,192,000 | $ | 11,800,000 | ||||||
As of December 29, 2012 the Company was owed $0.5 million from AWSC and $0.1 million from other related parties. | ||||||||||||
Non-Marketable Securities—Equity Method Investments | ||||||||||||
Equity losses in unconsolidated affiliates recorded in the consolidated statement of operations are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
KoBrite | $ | (406,811 | ) | $ | (573,265 | ) | $ | (296,451 | ) | |||
Ikanos | — | (106,322 | ) | — | ||||||||
Ask Ziggy | $ | (218,287 | ) | $ | — | $ | — | |||||
Total | $ | (625,098 | ) | $ | (679,587 | ) | $ | (296,451 | ) | |||
The Company has an approximate 12% interest in KoBrite at December 28, 2013. The Company accounts for its interest using the equity method and at December 28, 2013 the carrying value of the investment was $1.4 million. KoBrite’s results are recorded one quarter in arrears. One of the Company’s Directors, who is the chairman of IQE Taiwan, is a member of the Board of Directors of Bright LED, one of the other principal investors of KoBrite. | ||||||||||||
During the three months ended March 31, 2012, the Company acquired a 25% interest in Ikanos, a private company, for $0.7 million. On July 10, 2012, the Company invested an additional $2.5 million, which increased the Company’s interest in Ikanos to 51%. For the six month period ended June 30, 2012, the Company recorded the results of operation of Ikanos on the equity method of accounting and commencing in the third quarter of 2012 the Company consolidated Ikanos. | ||||||||||||
In 2012, the Company acquired a 5% interest in a private company Ask Ziggy (AZ), for $1.0 million. In January and August of 2013, the Company acquired an additional 10% and 5.8% for $900,000 and $700,000, respectively. During the third quarter of 2013, AZ repurchased shares of its common stock from an unrelated third party stockholder and as a result the Company now owns approximately 23.0% of AZ. At December 28, 2013, the Company determined that the AZ investment of $2.5 million was impaired and wrote the investment down to $0. The Company has also entered into an agreement to purchase an additional 2.0% of AZ for $200,000 if certain milestones are achieved. | ||||||||||||
Summarized financial information for 2011 includes KoBrite for the year ended September 30, 2011. (Kobrite's results are recorded one quarter in arrears). Summarized financial information for 2012 includes Kobrite for the period ended September 30, 2012 and Ikanos, operating results only, for the six month period January 1, 2012 through June 30, 2012. Summarized financial information for 2013 includes Kobrite for the year ended September 30, 2013 and AZ for the five month period August 1, 2013 through December 28, 2013, and are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current assets | $ | 7,769,000 | $ | 9,581,000 | $ | 12,468,000 | ||||||
Noncurrent assets | 10,663,000 | 12,701,000 | 15,927,000 | |||||||||
Current liabilities | 1,207,000 | 1,215,000 | 5,397,000 | |||||||||
Revenues | 5,085,000 | 6,010,000 | 7,938,000 | |||||||||
Margin loss | (2,501,000 | ) | (2,732,000 | ) | (794,000 | ) | ||||||
Loss from operations | (6,114,000 | ) | (4,938,000 | ) | (2,685,000 | ) | ||||||
Net loss | (5,526,000 | ) | (5,308,000 | ) | (2,526,000 | ) | ||||||
The Company has a loan to a non-officer employee for approximately $140,000 at December 28, 2013, which is currently due. | ||||||||||||
During the first quarter of 2013, the Company acquired four patents for $1.8 million and hired the patents' inventor. Upon commencement of employment the Company issued to the employee 400,000 shares of the Company's common stock, of which 100,000 shares were immediately vested and 300,000 shares will vest upon the achievement of certain milestones. | ||||||||||||
During the twelve months ended December 28, 2013, the Company recorded impairment charges of $2.5 million related to the write-off of a cost based investment. | ||||||||||||
The Company has a $14.9 million receivable as a result of the sale of its III-V product line and investment in KTC which is due January 16, 2016. The receivable is collateralized by certain assets of the Buyer of III-V product line. The Buyer has outstanding debt and the repayment of the receivable is subject to the Buyer remaining within its debt compliance obligations at the time of repayment. |
Business_Combinations
Business Combinations | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Business Combinations | ' | |||||||||||
Business Combinations | ||||||||||||
Ikanos | ||||||||||||
During the three month period ended March 31, 2012 the Company acquired a 25% interest in Ikanos, a private company, for $0.7 million and accounted for its interest using the equity method of accounting. On July 10, 2012, the Company purchased an additional 70,748 newly issued shares of Ikanos common stock for approximately $2.5 million, from Ikanos (the "Transaction"). As a result of this transaction and the Company's previous investment in Ikanos, the Company owns approximately 51% of the outstanding stock of Ikanos. The remaining 49% is held by other investors and employees of Ikanos. The Company began consolidating Ikanos on July 1, 2012. | ||||||||||||
The total purchase price was $2,581,000 and is comprised of | ||||||||||||
Cash consideration | $ | 2,500,000 | ||||||||||
Fair market value of Kopin's previously held equity method investment in Ikanos | 81,000 | |||||||||||
Total purchase price | $ | 2,581,000 | ||||||||||
The purchase price was as follows: | ||||||||||||
July 10, 2012 (As initially reported) | Measurement period adjustments | July 10, 2012 (As adjusted) | ||||||||||
Cash and marketable securities | $ | 2,594,000 | $ | — | $ | 2,594,000 | ||||||
Accounts receivable | 167,000 | — | 167,000 | |||||||||
Property, plant and equipment | 277,000 | — | 277,000 | |||||||||
Customer Relationships | — | 400,000 | 400,000 | |||||||||
Trade name | — | 170,000 | 170,000 | |||||||||
Goodwill | 1,141,000 | (456,000 | ) | 685,000 | ||||||||
Other identifiable assets | 111,000 | — | 111,000 | |||||||||
Identifiable liabilities | (325,000 | ) | (114,000 | ) | (439,000 | ) | ||||||
Noncontrolling interest in Ikanos | (1,384,000 | ) | — | (1,384,000 | ) | |||||||
Total | $ | 2,581,000 | $ | — | $ | 2,581,000 | ||||||
The Company remeasured and decreased its investment in Ikanos by approximately $558,000 within the statement of operations which represented the fair market value of the investment immediately prior to the Transaction. | ||||||||||||
The results of operations of the Ikanos acquisition have been included in the consolidated statements of operations from the time the Company assumed majority ownership, approximately July 1, 2012. Ikanos' net loss from operations included in the consolidated results of operation for the year ended December 29, 2012 was $1.5 million. The transaction related costs associated with the Ikanos acquisition were considered immaterial and are included within selling, general and administrative expense for the fiscal year ended December 29, 2012. The goodwill will not be deductible for tax purposes. In 2013, Ikanos repurchased some of its outstanding common stock and the Company increased its ownership of Ikanos to 58%. | ||||||||||||
eMDT | ||||||||||||
In April 2013, the Company acquired 51% of the outstanding stock of eMDT, a private company, for $400,000. The Company has an option to acquire an additional 25% of the Company for $200,000. In connection with the acquisition, the Company has preliminarily allocated excess purchase price in the amount of approximately $400,000 to goodwill. The Company's has finalized the purchase accounting. | ||||||||||||
The results of operations of the eMDT acquisition have been included in the consolidated statements of operations from the time the Company assumed majority ownership, approximately April 17, 2013. eMDT's net loss from operations included in the consolidated results of operation for the year ended December 28, 2013 was $0.3 million. The transaction related costs associated with the eMDT acquisition were considered immaterial and are included within selling, general and administrative expense for the fiscal year ended December 28, 2013. The goodwill will not be deductible for tax purposes. | ||||||||||||
The unaudited pro forma financial results for the fiscal years ended December 28, 2013 and December 29, 2012 combine the unaudited historical results of the Company along with the unaudited historical results of Ikanos and eMDT. The results include the effects of unaudited pro forma adjustments as if Ikanos and eMDT were acquired on January 1, 2012 (the first day of the Company's fiscal year 2012). There were no material nonrecurring pro forma adjustments in the calculation of revenue or earnings. The pro forma financial results presented below do not include any anticipated synergies or other expected benefits of the acquisition. These results are presented for informational purposes only and are not necessarily indicative of future operations. | ||||||||||||
Twelve Months Ended | ||||||||||||
December 28, 2013 | December 29, 2012 | |||||||||||
Revenue | $ | 23,103,000 | $ | 36,142,000 | ||||||||
Net Loss | (4,670,000 | ) | (18,805,000 | ) |
Financial_Instruments
Financial Instruments | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||||||||||||||||
Financial Instruments | ' | |||||||||||||||||||||||||||||||
Financial Instruments | ||||||||||||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||||||||||
Under accounting guidance, financial instruments are categorized as Level 1, Level 2 or Level 3 based upon the method by which their fair value is computed. An investment is categorized as Level 1 when its fair value is based on unadjusted quoted prices in active markets for identical assets that the Company has the ability to access at the measurement date. An investment is categorized as Level 2 if its fair market value is based on quoted market prices for similar assets in active markets, quoted prices for identical or similar assets in markets that are not active, based on observable inputs such as interest rates, yield curves, or derived from or corroborated by observable market data by correlation or other means. An investment is categorized as Level 3 if its fair value is based on assumptions developed by the Company about what a market participant would use in pricing the assets. | ||||||||||||||||||||||||||||||||
The Company’s investments are either held by brokers or in the case of publicly-held corporation, by the Company. The brokers who hold the Company’s investments provide periodic reporting on both the cost and fair value of the securities. The Company performs various procedures to corroborate the fair value provided by the brokers. Debt securities reflected in the table below include investments such as certificates of deposit, commercial paper, corporate bonds, government bonds, and money market fund deposits. When the Company uses observable market prices for identical securities that are traded in less active markets, its debt investments are classified as Level 2. When observable market prices for identical securities are not available, the Company prices our debt investments using non-binding market consensus prices that are corroborated with observable market data; quoted market prices for similar instruments; or pricing models, such as a discounted cash flow model, with all significant inputs derived from or corroborated with observable market data. Non-binding market consensus prices are based on quotes from brokers. The discounted cash flow model uses observable market inputs, such as US treasury-based yield curves. | ||||||||||||||||||||||||||||||||
The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets: | ||||||||||||||||||||||||||||||||
Fair Value Measurement at December 28, 2013 Using: | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||
Money Markets and Cash Equivalents | $ | 16,756,666 | $ | 16,756,666 | $ | — | $ | — | ||||||||||||||||||||||||
U.S. Government Securities | 68,284,392 | 16,542,003 | 51,742,389 | — | ||||||||||||||||||||||||||||
Corporate Debt | 12,984,331 | — | 12,984,331 | — | ||||||||||||||||||||||||||||
Certificates of Deposit | 14,703,812 | — | 14,703,812 | — | ||||||||||||||||||||||||||||
Vuzix Corporation | 1,433,102 | 1,433,102 | — | — | ||||||||||||||||||||||||||||
$ | 114,162,303 | $ | 34,731,771 | $ | 79,430,532 | $ | — | |||||||||||||||||||||||||
Fair Value Measurement at December 29, 2012 Using: | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||
Money Markets and Cash Equivalents | $ | 27,135,387 | $ | 27,135,387 | $ | — | $ | — | ||||||||||||||||||||||||
U.S. Government Securities | 38,582,956 | 17,576,878 | 21,006,078 | — | ||||||||||||||||||||||||||||
Corporate Debt | 11,095,227 | — | 11,095,227 | — | ||||||||||||||||||||||||||||
Certificates of Deposit | 15,671,779 | — | 15,671,779 | — | ||||||||||||||||||||||||||||
WIN Semiconductor Corp. | 1,410,388 | 1,410,388 | — | — | ||||||||||||||||||||||||||||
Advanced Wireless Semiconductor Company | 1,764,657 | 1,764,657 | — | — | ||||||||||||||||||||||||||||
$ | 95,660,394 | $ | 47,887,310 | $ | 47,773,084 | $ | — | |||||||||||||||||||||||||
The corporate debt consists of floating rate notes with a maturity that is over multiple years but has interest rates which are reset every three months based on the then current three month London Interbank Offering Rate (3 month Libor). The Company determines the fair market values of these corporate debt instruments through the use of a model which incorporates the 3 month Libor, the credit default swap rate of the issuer and the bid and ask price spread of same or similar investments which are traded on several markets. | ||||||||||||||||||||||||||||||||
The carrying amounts of cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value because of their short term nature. The carrying amount of accrued liabilities is classified as Level 2 in the fair value hierarchy. | ||||||||||||||||||||||||||||||||
Marketable Debt Securities | ||||||||||||||||||||||||||||||||
Investments in available-for-sale marketable debt securities are as follows at December 28, 2013 and December 29, 2012: | ||||||||||||||||||||||||||||||||
Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
U.S. government and agency backed securities | $ | 68,970,505 | $ | 38,074,136 | $ | — | $ | 508,820 | $ | (686,113 | ) | $ | — | $ | 68,284,392 | $ | 38,582,956 | |||||||||||||||
Corporate debt and certificates of deposits | 27,767,513 | 27,031,866 | — | — | (79,370 | ) | (264,860 | ) | 27,688,143 | 26,767,006 | ||||||||||||||||||||||
Total | $ | 96,738,018 | $ | 65,106,002 | $ | — | $ | 508,820 | $ | (765,483 | ) | $ | (264,860 | ) | $ | 95,972,535 | $ | 65,349,962 | ||||||||||||||
The contractual maturity of the Company’s marketable debt securities is as follows at December 28, 2013: | ||||||||||||||||||||||||||||||||
Less than | One to | Greater than | Total | |||||||||||||||||||||||||||||
One year | Five years | Five years | ||||||||||||||||||||||||||||||
U.S. government and agency backed securities | $ | 12,207,098 | $ | 44,260,888 | $ | 11,816,406 | $ | 68,284,392 | ||||||||||||||||||||||||
Corporate debt and certificates of deposits | 22,768,523 | 3,919,620 | 1,000,000 | 27,688,143 | ||||||||||||||||||||||||||||
Total | $ | 34,975,621 | $ | 48,180,508 | $ | 12,816,406 | $ | 95,972,535 | ||||||||||||||||||||||||
Other-than-Temporary Impairments | ||||||||||||||||||||||||||||||||
The Company reviews its marketable debt securities on a quarterly basis for the presence of other-than-temporary impairment (OTTI). | ||||||||||||||||||||||||||||||||
If the Company determines that an OTTI has occurred it further estimates the amount of OTTI resulting from a decline in the credit worthiness of the issuer (credit-related OTTI) and the amount of non credit-related OTTI. Noncredit-related OTTI can be caused by such factors as market illiquidity. Credit-related OTTI is recognized in earnings while noncredit-related OTTI on securities not expected to be sold is recognized in other comprehensive income (OCI). The Company did not record any OTTI for the fiscal years 2013 and 2012. Included in other income and expense is an impairment charge on investments in corporate debt instruments of $0.2 million for fiscal year 2011. |
Stockholders_Equity_and_StockB
Stockholders' Equity and Stock-Based Compensation | 12 Months Ended | |||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||
Stockholders' Equity and Stock-Based Compensation | ' | |||||||||||||||||
Stockholders’ Equity and Stock-Based Compensation | ||||||||||||||||||
In March 2013, the Company’s Board of Directors authorized the repurchase of up to $30 million of the Company’s common stock in open market or negotiated transactions through March 2014. Since the plan’s inception through December 28, 2013, the Company has purchased 2,171,400 shares of its common stock for $7,991,954. | ||||||||||||||||||
The Company has stock-based awards outstanding under several plans. In 2001, the Company adopted a 2001 Equity Incentive Plan (the Equity Plan). The Equity Plan authorized 7,100,000 shares of common stock, to be issued to employees, non-employees, and members of the Board of Directors (the Board). The Equity Plan had a ten year life and therefore no new equity awards may be issued under this plan. In 2010, the Company adopted a 2010 Equity Incentive Plan (the 2010 Equity Plan) which authorized the issuance of shares of common stock to employees, non-employees, and the Board. The 2010 Equity Plan has been subsequently amended to increase the number of authorized shares. The number of shares authorized is 2,600,000 plus the number of shares of common stock which were available for grant under the Equity Plan, the number of shares of common stock which were the subject of awards outstanding under the Equity Plan and are forfeited, terminated, canceled or expire after the adoption of the 2010 Equity Plan and the number of shares of common stock delivered to the Company either in exercise of a Equity Plan award or in satisfaction of a tax withholding obligation. The option price of statutory incentive stock options shall not be less than 100% of the fair market value of the stock at the date of grant, or in the case of certain statutory incentive stock options, at 110% of the fair market value at the time of the grant. The option price of nonqualified stock options is determined by the Board or Compensation Committee. Options must be exercised within a ten-year period or sooner if so specified within the option agreement. The term and vesting period for restricted stock awards and options granted under the 2010 Equity Plan are determined by the Board’s compensation committee. | ||||||||||||||||||
The Company has available approximately 1.2 million shares of common stock available for issuance under the Company’s 2010 Equity Plan in excess of shares of common stock which have already been reserved for under previously issued equity awards. | ||||||||||||||||||
Stock Options | ||||||||||||||||||
A summary of stock option activity under the stock award plans as of December 28, 2013 and changes during the twelve month period is as follows: | ||||||||||||||||||
2013 | ||||||||||||||||||
Shares | Weighted | |||||||||||||||||
Average | ||||||||||||||||||
Exercise | ||||||||||||||||||
Price | ||||||||||||||||||
Balance, beginning of year | 983,680 | $ | 5.26 | |||||||||||||||
Options forfeited/canceled | (424,830 | ) | 5.48 | |||||||||||||||
Options exercised | — | — | ||||||||||||||||
Balance, end of year | 558,850 | $ | 5.09 | |||||||||||||||
Exercisable, end of year | 558,850 | |||||||||||||||||
The following table summarizes information about stock options outstanding and exercisable at December 28, 2013: | ||||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||||
Range of Exercise Prices | Number | Weighted | Weighted | Number | Weighted | |||||||||||||
Outstanding | Average | Average | Exercisable | Average | ||||||||||||||
Remaining | Exercise | Exercise | ||||||||||||||||
Contractual | Price | Price | ||||||||||||||||
Life (Years) | ||||||||||||||||||
$ 0.01—$ 3.50 | 130,000 | 2 | $ | 3.49 | 130,000 | $ | 3.49 | |||||||||||
$ 3.75—$ 4.82 | 328,850 | 1 | 4.23 | 328,850 | 4.23 | |||||||||||||
$ 5.00—$ 8.03 | — | 2.23 | 5.4 | — | 5.4 | |||||||||||||
$10.00—$10.00 | 100,000 | 1 | 10 | 100,000 | 10 | |||||||||||||
558,850 | 1.23 | $ | 5.09 | 558,850 | $ | 5.09 | ||||||||||||
Aggregate intrinsic value on December 28, 2013 | $ | 182,643 | $ | 182,643 | ||||||||||||||
No stock options were issued in 2013, 2012 or 2011. The intrinsic value of options exercised in 2013, 2012 and 2011 was approximately $0, $0 and $23,000, respectively. The Company has issued warrants to purchase 200,000 shares of the Company’s stock at $3.49. During the year ended December 29, 2012, the warrants became fully vested. | ||||||||||||||||||
Cash received from option exercises under all share-based payment arrangements was approximately $0.1 million for fiscal year 2011. No tax benefits were realized during the three year period ended 2013 due to the existence of tax net operating loss carryforwards. | ||||||||||||||||||
NonVested Restricted Common Stock | ||||||||||||||||||
The Company has issued shares of nonvested restricted common stock to certain employees. Each award requires the employee to fulfill certain obligations, including remaining employed by the Company for one, two or four years (the vesting period) and in certain cases also meeting performance criteria. A summary of the activity for nonvested restricted common stock awards as of December 28, 2013 and changes during the twelve months then ended is presented below: | ||||||||||||||||||
Shares | Weighted | |||||||||||||||||
Average | ||||||||||||||||||
Grant | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Balance, December 29, 2012 | 2,283,048 | $ | 4.76 | |||||||||||||||
Granted | 2,135,000 | 3.22 | ||||||||||||||||
Forfeited | (227,000 | ) | 3.87 | |||||||||||||||
Vested | (1,216,900 | ) | 3.46 | |||||||||||||||
Balance, December 28, 2013 | 2,974,148 | $ | 4.25 | |||||||||||||||
The forfeitures in 2013 were primarily due to fact that the performance criteria were not met related to these awards. | ||||||||||||||||||
Stock-Based Compensation | ||||||||||||||||||
The following table summarizes stock-based compensation expense related to employee stock options and nonvested restricted common stock awards for the fiscal years 2013, 2012 and 2011 (no tax benefits were recognized): | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Cost of product revenues | $ | 414,842 | $ | 513,789 | $ | 613,274 | ||||||||||||
Research and development | 423,548 | 366,443 | 577,514 | |||||||||||||||
Selling, general and administrative | 3,365,018 | 3,606,758 | 2,732,840 | |||||||||||||||
Total | $ | 4,203,408 | $ | 4,486,990 | $ | 3,923,628 | ||||||||||||
Total unrecognized compensation expense for the nonvested restricted common stock as of December 28, 2013 totals $6.2 million and is expected to be recognized over a period of two years. |
Concentrations_of_Risk
Concentrations of Risk | 12 Months Ended | |||||
Dec. 28, 2013 | ||||||
Risks and Uncertainties [Abstract] | ' | |||||
Concentrations of Risk | ' | |||||
Concentrations of Risk | ||||||
Ongoing credit evaluations of customers’ financial condition are performed and collateral, such as letters of credit, are generally not required. The following table depicts the customer’s trade receivable balance as a percentage of gross trade receivables as of the end of the year indicated. (The symbol “*” indicates that accounts receivables from that customer were less than 10% of the Company’s total accounts receivable.) | ||||||
Percent of Gross | ||||||
Accounts Receivable | ||||||
Customer | 2013 | 2012 | ||||
Company A | 22 | * | ||||
Company B | 12 | * | ||||
Company C | 12 | * | ||||
Company D | * | 37 | ||||
Company E | * | 12 | ||||
Sales to significant non-affiliated customers for fiscal years 2013, 2012 and 2011, as a percentage of total revenues, is shown in the table below. Note the caption “Military Customers in Total” in the table below excludes research and development contracts. The Company sells its displays to Japanese customers through Ryoden Trading Company. (The symbol “*” indicates that sales to that customer were less than 10% of the Company’s total revenues.) | ||||||
Sales as a Percent | ||||||
of Total Revenue | ||||||
Fiscal Year | ||||||
Customer | 2013 | 2012 | 2011 | |||
Military Customers in Total | 38 | 57 | 60 | |||
Company A | 18 | 12 | 15 | |||
Company D | 13 | 22 | 23 | |||
Company E | * | 21 | 18 | |||
Company F | * | * | 10 | |||
United States Government Funded Research and Development Contracts | 7 | 10 | 8 |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The (benefit) provision for income taxes from continuing operations consists of the following for the fiscal years indicated: | ||||||||||||
Fiscal Year | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current | ||||||||||||
Federal | $ | (13,124,000 | ) | $ | — | $ | 52,000 | |||||
State | 12,000 | 64,000 | 88,000 | |||||||||
Foreign | (34,000 | ) | — | (137,000 | ) | |||||||
Total current (benefit) provision | (13,146,000 | ) | 64,000 | 3,000 | ||||||||
Deferred | ||||||||||||
Federal | (3,616,000 | ) | (2,878,000 | ) | 3,977,000 | |||||||
State | 644,000 | (505,000 | ) | (30,000 | ) | |||||||
Foreign | (565,000 | ) | 73,000 | (898,000 | ) | |||||||
Change in valuation allowance | 3,750,000 | 4,345,000 | (3,052,000 | ) | ||||||||
Total deferred provision | 213,000 | 1,035,000 | (3,000 | ) | ||||||||
Total (benefit) provision for income taxes | $ | (12,933,000 | ) | $ | 1,099,000 | $ | — | |||||
Net operating losses utilized in 2013, 2012 and 2011 to offset federal and state taxes were $0, $0 and $2,698,000, respectively. | ||||||||||||
The actual income tax provision (benefit) reported from operations are different than those which would have been computed by applying the federal statutory tax rate to loss before income tax benefit. A reconciliation of income tax (benefit) provision from continuing operations as computed at the U.S. federal statutory income tax rate to the provision for income tax benefit is as follows: | ||||||||||||
Fiscal Year | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Tax provision at federal statutory rates | $ | (13,322,000 | ) | $ | (7,002,000 | ) | $ | (2,006,000 | ) | |||
State tax liability | 8,000 | 42,000 | 57,000 | |||||||||
Foreign deferred | (644,000 | ) | 734,000 | 611,000 | ||||||||
Foreign withholding | 308,000 | 1,170,000 | — | |||||||||
Outside basis in KTC and Kowon, net | (202,000 | ) | 2,422,000 | — | ||||||||
Goodwill | — | 417,000 | 771,000 | |||||||||
Nondeductible expenses | 864,000 | 180,000 | 415,000 | |||||||||
Increase in net state operating loss carryforwards | (2,868,000 | ) | — | — | ||||||||
Provision to tax return adjustments and state tax rate change | (33,000 | ) | (462,000 | ) | 888,000 | |||||||
Tax credits | (390,000 | ) | (100,000 | ) | 1,188,000 | |||||||
Non-deductible equity compensation | (418,000 | ) | 136,000 | 1,542,000 | ||||||||
Other, net | 14,000 | (783,000 | ) | (414,000 | ) | |||||||
Change in valuation allowance | 3,750,000 | 4,345,000 | (3,052,000 | ) | ||||||||
$ | (12,933,000 | ) | $ | 1,099,000 | $ | — | ||||||
Pretax foreign losses from continuing operations were approximately $(4,966,000), $(6,870,000) and $(6,879,000) for fiscal years 2013, 2012 and 2011, respectively. The Company has made the decision to close Kowon and accordingly reflected a liability for unremitted earnings. | ||||||||||||
The benefit for income taxes for the fiscal year ended 2013 of $12.9 million represents the net of state and foreign tax and intra period tax allocations related to the Company's discontinued operations and withholding taxes related to ceasing operations at the Korean facility. | ||||||||||||
Deferred income taxes are provided to recognize the effect of temporary differences between tax and financial reporting. Deferred income tax assets and liabilities consist of the following: | ||||||||||||
Fiscal Year | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax liability: | ||||||||||||
Intangible asset | $ | (141,000 | ) | $ | (636,000 | ) | ||||||
Foreign withholding liability | (1,478,000 | ) | (1,170,000 | ) | ||||||||
Foreign unremitted earnings | (3,276,000 | ) | (3,478,000 | ) | ||||||||
Deferred tax assets: | ||||||||||||
Federal net operating loss carryforwards | 15,322,000 | 9,493,000 | ||||||||||
State net operating loss carryforwards | 624,000 | 580,000 | ||||||||||
Foreign net operating loss carryforwards | 3,202,000 | 3,028,000 | ||||||||||
Equity awards | 1,666,000 | 1,111,000 | ||||||||||
Tax credits | 5,657,000 | 5,267,000 | ||||||||||
Equipment | 838,000 | 4,131,000 | ||||||||||
Investments | 4,594,000 | 4,760,000 | ||||||||||
Other | 3,365,000 | 3,582,000 | ||||||||||
Net deferred tax assets | 30,373,000 | 26,668,000 | ||||||||||
Valuation allowance | (31,886,000 | ) | (27,973,000 | ) | ||||||||
$ | (1,513,000 | ) | $ | (1,305,000 | ) | |||||||
As of December 28, 2013, the Company has available for tax purposes federal net operating loss carryforwards (NOLs) of $43.7 million expiring through 2032. The Company has recognized a full valuation allowance on its net deferred tax assets as the Company has concluded that such assets are not more likely than not to be realized. The $3.7 million increase in valuation allowance during fiscal year 2013 was primarily due to net operating losses generated of $8.6 million and the sale of III-V assets. The change in valuation allowance during fiscal year 2012 was due to net operating losses generated of $6.0 million and significant equipment disposals of $2.0 million. The Company has not historically recorded, nor does it intend to record the tax benefits from stock awards until realized. Unrecorded benefits from stock awards approximated $10.1 million at December 28, 2013. | ||||||||||||
The Company has suspended operations and terminated the majority of employees at its Korean subsidiary, Kowon. The assets, primarily buildings and land, have been put up for sale. It is more likely than not that the Company's share of the net book value of its Korean investment would be repatriated to the U.S. resulting in a Korean withholding tax of $1.5 million. As a result of the Company no longer being permanently reinvested in Korea, a deferred tax liability for the outside basis in the Korean subsidiary has been booked for $3.3 million. | ||||||||||||
In September 2013, the U.S. Department of the Treasury and the Internal Revenue Service released final regulations relating to guidance on applying tax rules to amounts paid to acquire, produce or improve tangible personal property as well as rules for materials and supplies. The Company is currently assessing these rules and the impacts to the financial statements, if any. | ||||||||||||
The Company’s income tax returns have not been examined by the Internal Revenue Service and are subject to examination for all years since 2001. State income tax returns are generally subject to examination for a period of three to five years after filing of the respective return. The state impact of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states. | ||||||||||||
International jurisdictions have statutes of limitations generally ranging from three to seven years after filing of the respective return. Years still open to examination by tax authorities in major jurisdictions include Korea (2006 onward), Japan (2006 onward), Hong Kong (2008 onward) and United Kingdom (2011 onward). The Company is not currently under examination in these jurisdictions. |
Accrued_Warranty
Accrued Warranty | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Product Warranties Disclosures [Abstract] | ' | |||||||
Accrued Warranty | ' | |||||||
Accrued Warranty | ||||||||
The Company warrants its products against defect for 12 months. A provision for estimated future costs and estimated returns for credit relating to warranty is recorded in the period when product is shipped and revenue recognized, and is updated as additional information becomes available. The Company’s estimate of future costs to satisfy warranty obligations is based primarily on historical warranty expense experienced and a provision for potential future product failures. Changes in the accrued warranty for fiscal years 2013 and 2012 are as follows: | ||||||||
Fiscal Year Ended | ||||||||
December 28, | December 29, 2012 | |||||||
2013 | ||||||||
Beginning Balance | $ | 716,000 | $ | 1,318,000 | ||||
Additions | 798,000 | 1,777,000 | ||||||
Claim and reversals | (798,000 | ) | (2,229,000 | ) | ||||
Reclassified to current liabilities held for sale | — | (150,000 | ) | |||||
Ending Balance | $ | 716,000 | $ | 716,000 | ||||
Employee_Benefit_Plan
Employee Benefit Plan | 12 Months Ended |
Dec. 28, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Employee Benefit Plan | ' |
Employee Benefit Plan | |
The Company has an employee benefit plan pursuant to Section 401(k) of the Internal Revenue Code of 1986, as amended. In 2013, the plan allowed employees to defer an amount of their annual compensation up to a current maximum of $17,000 if they are under the age of 50 and $22,500 if they are over the age of 50. The Company matches 50% of all deferred compensation on the first 3% of each employee’s deferred compensation. The amount charged to operations in connection with this plan was approximately $146,000, $210,000 and $229,000 in fiscal years 2013, 2012 and 2011, respectively. |
Commintments_and_Contingencies
Commintments and Contingencies | 12 Months Ended | |||
Dec. 28, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Commitments and Contingencies | ||||
Leases | ||||
The Company leases facilities located in Westborough, Massachusetts, Santa Clara, California, Scotts Valley, California, Dalgety Bay, Scotland and Nottingham, United Kingdom, under non-cancelable operating leases. The Westborough lease expires in 2023. The Santa Clara lease expires in 2016. The Scotts Valley lease expires in November 2014. The Dalgety Bay lease expires in 2016. The Company also leases two facilities in Nottingham, United Kingdom which expire in 2016 and 2017. Substantially all real estate taxes, insurance and maintenance expenses under these leases are the Company’s obligations and are expensed as incurred and were immaterial. The following is a schedule of minimum rental commitments under non-cancelable operating leases at December 28, 2013: | ||||
Fiscal Year ending, | Amount | |||
2014 | $ | 1,266,000 | ||
2015 | 1,177,000 | |||
2016 | 836,000 | |||
2017 | 665,000 | |||
2018 | 641,000 | |||
Thereafter | 2,768,000 | |||
Total minimum lease payments | $ | 7,353,000 | ||
Amounts incurred under operating leases are recorded as rent expense on a straight-line basis and aggregated approximately $1.3 million in fiscal year 2013, $0.8 million in fiscal year 2012 and $1.1 million in fiscal year 2011. | ||||
Other Agreements | ||||
The Company has entered into various license agreements which require payment of royalties based upon a set percentage of product sales, subject in some cases, to certain minimum amounts. Total royalty expense approximated $20,000, $18,000 and $18,000, respectively, in fiscal years 2013, 2012 and 2011. | ||||
The Company received a $3.0 million grant in fiscal year 2008 from the Commonwealth of Massachusetts as an incentive to retain jobs in Massachusetts. As a result of the sale of the III-V product line the Company repaid all of such amounts to the state in 2013. |
Litigation
Litigation | 12 Months Ended |
Dec. 28, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Litigation | ' |
Litigation | |
The Company may engage in legal proceedings arising in the ordinary course of business. Claims, suits, investigations and proceedings are inherently uncertain and it is not possible to predict the ultimate outcome of such matters and our business, financial condition, results of operations or cash flows could be affected in any particular period. |
Segments_and_Geographical_Info
Segments and Geographical Information | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segments and Geographical Information | ' | ||||||||||||||||||||
Segments and Geographical Information | |||||||||||||||||||||
The Company’s chief operating decision maker is its Chief Executive Officer. During the year ended December 28, 2013, the Company transferred the manufacturing operations of Kowon to the Company's manufacturing facility in the United States and sold its III-V product line including, its investment in KTC. As a result of these transactions, the Company has reorganized its operations to align with its new strategy to primarily focus on developing its wearable computing systems and its reflective display products. Accordingly, the Company has determined it has two reportable segments, FDD, the manufacturer of its reflective display products for test and simulation products, and Kopin, which is comprised of Kopin Corporation, Kowon, Ikanos and eMDT. The segment information for the prior periods presented has been recast to reflect the change in reportable segments. | |||||||||||||||||||||
Kopin | FDD | Total | |||||||||||||||||||
2013 | |||||||||||||||||||||
Revenues | $ | 19,883 | $ | 3,014 | $ | 22,898 | |||||||||||||||
Net income (loss) attributable to the controlling interest | (2,003 | ) | (2,707 | ) | (4,710 | ) | |||||||||||||||
Total assets from continuing operations | 143,953 | 2,179 | 146,132 | ||||||||||||||||||
Long-lived assets from continuing operations | 5,488 | 547 | 6,035 | ||||||||||||||||||
2012 | |||||||||||||||||||||
Revenues | $ | 31,879 | $ | 2,763 | $ | 34,642 | |||||||||||||||
Net (loss) income attributable to the controlling interest | (17,067 | ) | (4,083 | ) | (21,150 | ) | |||||||||||||||
Total assets from continuing operations | 134,375 | 4,202 | 138,577 | ||||||||||||||||||
Long-lived assets from continuing operations | 7,728 | 758 | 8,486 | ||||||||||||||||||
2011 | |||||||||||||||||||||
Revenues | $ | 59,785 | $ | 4,874 | $ | 64,659 | |||||||||||||||
Net income (loss) attributable to the controlling interest | 244 | (6,878 | ) | (6,634 | ) | ||||||||||||||||
Total assets from continuing operations | 187,215 | 6,657 | 193,872 | ||||||||||||||||||
Long-lived assets from continuing operations | 31,331 | 1,038 | 32,369 | ||||||||||||||||||
Geographical revenue information for the three years ended December 28, 2013, December 29, 2012 and December 31, 2011 was based on the location of the customers and is as follows: | |||||||||||||||||||||
Fiscal Year | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Revenue | % of Total | Revenue | % of Total | Revenue | % of Total | ||||||||||||||||
US | $ | 11,927,000 | 53 | % | $ | 25,356,000 | 73 | % | $ | 48,707,000 | 75 | % | |||||||||
Other Americas | 230,000 | 1 | % | 93,000 | — | % | 632,000 | 1 | % | ||||||||||||
Total Americas | 12,157,000 | 54 | % | 25,449,000 | 73 | % | 49,339,000 | 76 | % | ||||||||||||
Asia-Pacific | 8,292,000 | 36 | % | 7,132,000 | 21 | % | 12,300,000 | 19 | % | ||||||||||||
Europe | 2,449,000 | 10 | % | 2,061,000 | 6 | % | 3,020,000 | 5 | % | ||||||||||||
Total Revenues | $ | 22,898,000 | 100 | % | $ | 34,642,000 | 100 | % | $ | 64,659,000 | 100 | % | |||||||||
Long-lived assets by geographic area are as follows: | |||||||||||||||||||||
Fiscal Years | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
United States of America | $ | 3,050,000 | $ | 4,840,000 | |||||||||||||||||
United Kingdom | 795,000 | 1,072,000 | |||||||||||||||||||
Republic of Korea | 2,190,000 | 2,574,000 | |||||||||||||||||||
$ | 6,035,000 | $ | 8,486,000 | ||||||||||||||||||
Selected_Quarterly_Financial_I
Selected Quarterly Financial Information (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Selected Quarterly Financial Information (Unaudited) | ' | |||||||||||||||
Selected Quarterly Financial Information (Unaudited) | ||||||||||||||||
The following tables present Kopin’s quarterly operating results for the fiscal years ended December 28, 2013 and December 29, 2012. The information for each of these quarters is unaudited and has been prepared on the same basis as the audited consolidated financial statements. In the opinion of management, all necessary adjustments, consisting only of normal recurring adjustments, have been included to present fairly the unaudited consolidated quarterly results when read in conjunction with Kopin’s audited consolidated financial statements and related notes. These operating results are not necessarily indicative of the results of any future period. | ||||||||||||||||
Quarterly Periods During Fiscal Year Ended December 28, 2013: | ||||||||||||||||
Three months ended March 30, 2013 | Three months ended June 29, 2013 | Three months ended September 28, 2013 | Three months | |||||||||||||
ended | ||||||||||||||||
December 28, | ||||||||||||||||
2013 (3) | ||||||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Revenue | $ | 6,319 | $ | 6,079 | $ | 4,950 | $ | 5,550 | ||||||||
Gross profit (2) | $ | (396 | ) | $ | (595 | ) | $ | 267 | $ | 645 | ||||||
(Loss) income from continuing operations | $ | 1,168 | $ | (8,062 | ) | $ | (9,015 | ) | $ | (9,844 | ) | |||||
Net loss attributable to the controlling interest | $ | 21,634 | $ | (7,910 | ) | $ | (8,771 | ) | $ | (9,660 | ) | |||||
Net loss per share from continuing operations (1): | ||||||||||||||||
Basic | $ | 0.34 | $ | (0.13 | ) | $ | (0.14 | ) | $ | (0.16 | ) | |||||
Diluted | $ | 0.34 | $ | (0.13 | ) | $ | (0.14 | ) | $ | (0.16 | ) | |||||
Shares used in computing net loss per share from continuing operations: | ||||||||||||||||
Basic | 63,936 | 62,492 | 63,542 | 61,529 | ||||||||||||
Diluted | 63,936 | 62,492 | 63,542 | 61,529 | ||||||||||||
-1 | Net income (loss) per share is computed independently for each of the quarters presented; accordingly, the sum of the quarterly net income per share may not equal the total computed for the year. | |||||||||||||||
-2 | Gross profit is defined as net product revenue less cost of product revenues. | |||||||||||||||
-3 | Includes $4.0 million impact in loss from continuing operations and net loss attributable to the controlling interest attributable to the impairment of intangibles and write off of investments for the three month period ended December 28, 2013, as described in Notes 4 and 6. | |||||||||||||||
Quarterly Periods During Fiscal Year Ended December 29, 2012: | ||||||||||||||||
Three months ended March 31, 2012 | Three months ended June 30, 2012 | Three months ended September 29, 2012 | Three months ended December 29, 2012 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Revenue | $ | 10,866 | $ | 7,012 | $ | 8,190 | $ | 8,574 | ||||||||
Gross profit (2) | $ | 3,253 | $ | 1,127 | $ | 2,451 | $ | 2,425 | ||||||||
(Loss) income from continuing operations | $ | (2,712 | ) | $ | (6,456 | ) | $ | (6,849 | ) | $ | (5,766 | ) | ||||
Net loss attributable to the controlling interest | $ | (2,578 | ) | $ | (5,199 | ) | $ | (6,724 | ) | $ | (3,861 | ) | ||||
Net loss per share from continuing operations (1): | ||||||||||||||||
Basic | $ | (0.04 | ) | $ | (0.08 | ) | $ | (0.11 | ) | $ | (0.06 | ) | ||||
Diluted | $ | (0.04 | ) | $ | (0.08 | ) | $ | (0.11 | ) | $ | (0.06 | ) | ||||
Shares used in computing net loss per share from continuing operations: | ||||||||||||||||
Basic | 64,225 | 63,078 | 63,415 | 63,836 | ||||||||||||
Diluted | 64,225 | 63,078 | 63,415 | 63,836 | ||||||||||||
-1 | Net loss per share is computed independently for each of the quarters presented; accordingly, the sum of the quarterly net income per share may not equal the total computed for the year. | |||||||||||||||
-2 | Gross profit is defined as net product revenue less cost of product revenues. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||
Schedule II - Valuation and Qualifying Accounts | ' | |||||||||||||||
SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||
Fiscal Years Ended December 28, 2013, December 29, 2012 and December 31, 2011 | ||||||||||||||||
Description | Balance at | Additions | Deductions | Balance at | ||||||||||||
Beginning | Charged | from | End of | |||||||||||||
of Year | to | Reserve | Year | |||||||||||||
Income | ||||||||||||||||
Reserve deducted from assets—allowance for doubtful accounts: | ||||||||||||||||
2011 | $ | 737,000 | $ | 182,000 | $ | (406,000 | ) | $ | 513,000 | |||||||
2012 | 513,000 | 139,000 | (341,000 | ) | 311,000 | |||||||||||
2013 | 311,000 | 19,000 | (128,000 | ) | 202,000 | |||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Dec. 28, 2013 | Dec. 28, 2013 | ||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ' | |||||||||||||||||||||||
Principles of Consolidation | ' | ' | |||||||||||||||||||||||
Principles of Consolidation | |||||||||||||||||||||||||
The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, a majority owned 93% subsidiary, Kowon Technology Co., Ltd. (Kowon), located in Korea, a majority owned (58)% subsidiary, Ikanos Consulting Ltd. (Ikanos), located in the United Kingdom, and a majority owned (51)% subsidiary, eMDT America Inc (eMDT), located in California (collectively the Company). All intercompany transactions and balances have been eliminated. Amounts of Kowon, Ikanos and eMDT not attributable to the Company are referred to as noncontrolling interests in the consolidated statements of operations and consolidated statements of comprehensive (loss) income. Investments in business entities in which the Company does not have control but has the ability to exercise significant influence over operating and financial policies are accounted for by the equity method. | |||||||||||||||||||||||||
In 2013, the Company paid approximately $3.7 million to acquire an additional 15% ownership in its Kowon subsidiary which raised its ownership from 78% to 93%. The Company ceased its production activities at its Kowon facility in 2013 but as of December 28, 2013, the closure of this facility did not meet the criteria for assets held for sale. | |||||||||||||||||||||||||
Revenue Recognition | ' | ' | |||||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||||||
The Company recognizes revenue if four basic criteria have been met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred and services rendered; (3) the price to the buyer is fixed or determinable; and (4) collectability is reasonably assured. The Company does not recognize revenue for products prior to customer acceptance unless it believes the product meets all customer specifications and the Company has a history of consistently achieving customer acceptance of the product. Provisions for product returns and allowances are recorded in the same period as the related revenues. The Company analyzes historical returns, current economic trends and changes in customer demand and acceptance of product when evaluating the adequacy of sales returns and other allowances. Certain product sales are made to distributors under agreements allowing for a limited right of return on unsold products. Sales to distributors are primarily made for sales to the distributor’s customers and not for their stocking of inventory. The Company delays revenue recognition for its estimate of distributor claims of right of return on unsold products based upon its historical experience with the Company’s products and specific analysis of amounts subject to return based upon discussions with the Company’s distributors or their customers. | |||||||||||||||||||||||||
The Company recognizes revenues from long-term research and development contracts on the percentage-of-completion method of accounting as work is performed, based upon the ratio of costs or hours already incurred to the estimated total cost of completion or hours of work to be performed. Revenue recognized at any point in time is limited to the amount funded by the U.S. government or contracting entity. The Company accounts for product development and research contracts that have established prices for distinct phases as if each phase were a separate contract. In some instances, the Company is contracted to create a deliverable which is anticipated to be qualified and go into full rate production stages. In those cases, the revenue recognition methodology will change from the percentage of completion method to the units-of-delivery method as new contracts are received after formal qualification has been completed. | |||||||||||||||||||||||||
The Company classifies amounts earned on contracts in progress that are in excess of amounts billed as unbilled receivables and classifies amounts received in excess of amounts earned as billings in excess of revenues earned. The Company invoices based on dates specified in the related agreement or in periodic installments based upon its invoicing cycle. The Company recognizes the entire amount of an estimated ultimate loss in its financial statements at the time the loss on a contract becomes known. | |||||||||||||||||||||||||
Research and Development Costs | ' | ' | |||||||||||||||||||||||
Research and Development Costs | |||||||||||||||||||||||||
Research and development expenses are incurred in support of internal display product development programs or programs funded by agencies or prime contractors of the U.S. government and commercial partners. Research and development costs include staffing, purchases of materials and laboratory supplies, circuit design costs, fabrication and packaging of experimental display products, and overhead, and are expensed immediately. | |||||||||||||||||||||||||
Cash and Cash Equivalents | ' | ' | |||||||||||||||||||||||
Cash and Equivalents and Marketable Securities | |||||||||||||||||||||||||
The Company considers all highly liquid, short-term debt instruments with original maturities of three months or less to be cash equivalents. | |||||||||||||||||||||||||
Marketable Securities | ' | ' | |||||||||||||||||||||||
Marketable debt securities consist primarily of commercial paper, medium-term corporate notes, and United States government and agency backed securities. The Company classifies these marketable debt securities as available-for-sale at fair value in “Marketable debt securities, at fair value.” In fiscal year 2013, the investment in Vuzix Corporation (Vuzix) was included in "Other Assets" as available-for-sale and at fair value. In fiscal year 2012, the investments in Advanced Wireless Semiconductor Company (AWSC) and WIN Semiconductor Corp. (WIN) were included in “Other assets” as available-for-sale and at fair value and these securities were sold in 2013. The Company records the amortization of premium and accretion of discounts on marketable debt securities in the results of operations. | |||||||||||||||||||||||||
The Company uses the specific identification method as a basis for determining cost and calculating realized gains and losses with respect to marketable debt securities. The gross gains and losses realized related to sales of marketable debt securities were not material during fiscal years 2013, 2012 and 2011 | |||||||||||||||||||||||||
Inventory | ' | ' | |||||||||||||||||||||||
Inventory | |||||||||||||||||||||||||
Inventory is stated at the lower of cost (determined on the first-in, first-out method) or market and consists of the following at December 28, 2013 and December 29, 2012: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Raw materials | $ | 1,441,569 | $ | 2,540,497 | |||||||||||||||||||||
Work-in-process | 1,003,540 | 1,880,202 | |||||||||||||||||||||||
Finished goods | 632,946 | 1,369,054 | |||||||||||||||||||||||
$ | 3,078,055 | $ | 5,789,753 | ||||||||||||||||||||||
Property, Plant and Equipment | ' | ' | |||||||||||||||||||||||
Property, plant and equipment | |||||||||||||||||||||||||
Property, plant and equipment are recorded at cost. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the assets, generally 3 to 10 years. Leasehold improvements and leased equipment are amortized over the shorter of the term of the lease or the useful life of the improvement or equipment. As discussed below, obligations for asset retirement are accrued at the time property, plant and equipment is initially purchased or as such obligations are generated from use. | |||||||||||||||||||||||||
Intangible Assets | ' | ' | |||||||||||||||||||||||
Intangible assets | |||||||||||||||||||||||||
Intangible assets include patents, customer relationships, developed technology and trademarks. Customer relationships represent the fair value of the underlying relationships with customers. Developed technology represents the fair value of technology as it exists in current products and has value through its continued use or reuse. The trademark represents the brand and name recognition associated with the marketing of products and was determined to have a finite life. | |||||||||||||||||||||||||
Identifiable intangible assets are amortized using the straight-line method over the estimated useful lives of the assets, generally three to seven years. | |||||||||||||||||||||||||
Product Warranty | ' | ' | |||||||||||||||||||||||
Product Warranty | |||||||||||||||||||||||||
The Company generally sells products with a limited warranty of product quality and a limited indemnification of customers against intellectual property infringement claims related to the Company’s products. The Company accrues for known warranty and indemnification issues if a loss is probable and can be reasonably estimated, and accrues for estimated incurred but unidentified issues based on historical activity. As of December 28, 2013 and December 29, 2012, the Company had warranty reserves of $0.7 million. For the fiscal years 2013, 2012 and 2011 warranty claims and reversals were approximately $0.8 million, $2.2 million and $1.4 million, respectively. | |||||||||||||||||||||||||
Asset Retirement Obligations | ' | ' | |||||||||||||||||||||||
Asset Retirement Obligations | |||||||||||||||||||||||||
The Company recorded asset retirement obligations (ARO) liabilities of $0.3 million at December 28, 2013 and December 29, 2012, respectively. This represents the legal obligations associated with retirement of the Company’s assets when the timing and/or method of settling the obligation are conditional on a future event that may or may not be within the control of the Company. | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Beginning balance | $ | 322,477 | $ | 1,295,670 | |||||||||||||||||||||
Additions | — | 32,360 | |||||||||||||||||||||||
Charges | — | (424,785 | ) | ||||||||||||||||||||||
Accretion and exchange rate change | 6,958 | 43,211 | |||||||||||||||||||||||
Reclassified to noncurrent liabilities held for sale | — | (623,979 | ) | ||||||||||||||||||||||
Ending balance | $ | 329,435 | $ | 322,477 | |||||||||||||||||||||
Income Taxes | ' | ' | |||||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||
The consolidated financial statements reflect provisions for federal, state, local and foreign income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company provides valuation allowances if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | |||||||||||||||||||||||||
Foreign Currency | ' | ' | |||||||||||||||||||||||
Foreign Currency | |||||||||||||||||||||||||
Assets and liabilities of non-U.S. operations where the functional currency is other than the U.S. dollar are translated from the functional currency into U.S. dollars at year end exchange rates, and revenues and expenses at average rates prevailing during the year. Resulting translation adjustments are accumulated as part of accumulated other comprehensive income. Transaction gains or losses are recognized in income or loss in the period in which they occur. | |||||||||||||||||||||||||
Net (Loss) Income Per Share | ' | ' | |||||||||||||||||||||||
Net (Loss) Income Per Share | |||||||||||||||||||||||||
Basic net (loss) income per share is computed using the weighted-average number of shares of common stock outstanding during the period less any unvested restricted shares. Diluted earnings per common share is calculated using weighted-average shares outstanding and contingently issuable shares, less weighted-average shares reacquired during the period. The net outstanding shares are adjusted for the dilutive effect of shares issuable upon the assumed conversion of the Company’s common stock equivalents, which consist of outstanding stock options and unvested restricted stock. | |||||||||||||||||||||||||
Weighted-average common shares outstanding used to calculate earnings per share, is as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Weighted-average common shares outstanding—basic | 62,347,852 | 63,617,680 | 64,405,776 | ||||||||||||||||||||||
Stock options and nonvested restricted common stock | — | — | 828,436 | ||||||||||||||||||||||
Weighted-average common shares outstanding—diluted | 62,347,852 | 63,617,680 | 65,234,212 | ||||||||||||||||||||||
Concentration of Credit Risk | ' | ' | |||||||||||||||||||||||
Concentration of Credit Risk | |||||||||||||||||||||||||
Financial instruments that potentially subject the Company to concentration of credit risk other than marketable securities consist principally of trade accounts receivable and the note receivable from IQE, plc. Trade receivables are primarily derived from sales to manufacturers of consumer electronic devices and wireless components or military applications. | |||||||||||||||||||||||||
The Company primarily invests its excess cash in government backed and corporate financial instruments that management believes to be of high credit worthiness, which bear lower levels of relative credit risk. The Company relies on rating agencies to ascertain the credit worthiness of its marketable securities and, where applicable, guarantees by the Federal Deposit Insurance Company. The Company sells its products to customers worldwide and generally does not require collateral. The Company maintains a reserve for potential credit losses. | |||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ' | |||||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||||||
Financial instruments consist of current assets (except inventories, income tax receivables and prepaid assets) and certain current liabilities. Current assets (excluding marketable securities which are recorded at fair value) and current liabilities are carried at cost, which approximates fair value. | |||||||||||||||||||||||||
Stock-Based Compensation | ' | ' | |||||||||||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||||||
The fair value of stock option awards is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. There were no stock options granted in fiscal years 2013, 2012 or 2011. | |||||||||||||||||||||||||
The fair value of nonvested restricted common stock awards is generally the market value of the Company’s equity shares on the date of grant. The nonvested restricted common stock awards require the employee to fulfill certain obligations, including remaining employed by the Company for one, two or four years (the vesting period) and in certain cases also require meeting either performance criteria or the Company’s stock achieving a certain price. The performance criteria primarily consist of the achievement of the Company’s annual incentive plan goals. For nonvested restricted common stock awards which solely require the recipient to remain employed with the Company, the stock compensation expense is amortized over the anticipated service period. For nonvested restricted common stock awards which require the achievement of performance criteria, the Company reviews the probability of achieving the performance goals on a periodic basis. If the Company determines that it is probable that the performance criteria will be achieved, the amount of compensation cost derived for the performance goal is amortized over the service period. If the performance criteria are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. The Company recognizes compensation costs on a straight-line basis over the requisite service period for time vested awards. | |||||||||||||||||||||||||
In 2013, the Company granted compensation awards to its Chief Executive Officer that consisted of two grants of 150,000 shares of restricted stock each. One of the grants will vest at the end of the first 10 consecutive trading day period following the grant date during which the Company’s common stock trades at a price per share equal to or greater than $6.00. The other award will vest at the end of the first 10 consecutive trading day period following the grant date during which the Company’s common stock trades at a price per share equal to or greater than $7.00. In 2011, the Company granted compensation awards to its Chief Executive Officer that consisted of a grant of 260,000 shares of restricted stock and a grant of 380,000 shares of phantom stock to be settled in cash. The 260,000 shares of restricted stock and the 380,000 shares of phantom stock will vest at the end of the first 10 consecutive trading day period following the grant date during which the Company’s common stock trades at a price per share equal to or greater than $5.25, prior to September 12, 2016. The vesting of the awards upon achieving a closing stock price of $6.00, $7.00 and $5.25 for 10 consecutive days is considered a market condition. The accounting for the 150,000, 150,000 and 260,000 shares requires the fair market value of the shares to be determined on the grant day and then this fair market value is expensed straight-line over the derived service period. The accounting for the phantom stock award requires the Company to periodically assess the fair market value of the award, with increases or decrease in the fair market value being reflected in the statements of operations. | |||||||||||||||||||||||||
In 2013, the Company granted a compensation award to its Chief Executive Officer that consisted of a grant of 300,000 shares of restricted stock that will vest upon the Company shipping 50,000 units of a new display. The compensation cost of this award will be recognized over the period the Company ships the displays. | |||||||||||||||||||||||||
Comprehensive Income, Policy [Policy Text Block] | ' | ' | |||||||||||||||||||||||
Comprehensive (Loss) Income | |||||||||||||||||||||||||
Comprehensive (loss) income is the total of net income and all other non-owner changes in equity including such items as unrealized holding (losses) gains on marketable equity and debt securities classified as available-for-sale and foreign currency translation adjustments. | |||||||||||||||||||||||||
The components of accumulated other comprehensive income are as follows: | |||||||||||||||||||||||||
Cumulative | Unrealized Holding | Non-Credit | Accumulated Other | ||||||||||||||||||||||
Translation | (Loss) Gain on | Related | Comprehensive | ||||||||||||||||||||||
Adjustment | Marketable | Losses on | Income (Loss) | ||||||||||||||||||||||
Securities | Investments | ||||||||||||||||||||||||
Balance as of December 25, 2010 | $ | 2,440,881 | $ | 3,797,302 | $ | (252,838 | ) | $ | 5,985,345 | ||||||||||||||||
Changes during year | (1,121,011 | ) | (971,148 | ) | 252,838 | (1,839,321 | ) | ||||||||||||||||||
Balance as of December 31, 2011 | 1,319,870 | 2,826,154 | — | 4,146,024 | |||||||||||||||||||||
Changes during year | 2,222,234 | 144,534 | — | 2,366,768 | |||||||||||||||||||||
Balance as of December 29, 2012 | 3,542,104 | 2,970,688 | — | 6,512,792 | |||||||||||||||||||||
Changes during year | (1,017,403 | ) | (2,053,392 | ) | — | (3,070,795 | ) | ||||||||||||||||||
Balance as of December 28, 2013 | $ | 2,524,701 | $ | 917,296 | $ | — | $ | 3,441,997 | |||||||||||||||||
Liabilities of Assets Held-for-sale | ' | ' | |||||||||||||||||||||||
Assets Held for Sale | |||||||||||||||||||||||||
Assets and liabilities held for sale as of December 29, 2012 pertain to applicable assets and liabilities of the Company's III-V product line and its investment in Kopin Taiwan Corporation. | |||||||||||||||||||||||||
Impairment Long-Lived Assets | ' | ' | |||||||||||||||||||||||
Impairment of Long-Lived Assets | |||||||||||||||||||||||||
The Company periodically reviews the carrying value of our long-lived assets to determine if facts and circumstances suggest that they may be impaired or that the amortization or depreciation period may need to be changed. The carrying value of a long-lived asset is considered impaired when the anticipated identifiable undiscounted cash flows from such asset are less than its carrying value. For assets that are to be held and used, impairment is measured based upon the amount by which the carrying amount of the asset exceeds its fair value. The carrying value of the Company’s long-lived assets was $6.0 million at December 28, 2013. | |||||||||||||||||||||||||
Recently Adopted Accounting Pronouncements | ' | ' | |||||||||||||||||||||||
Recently Adopted Accounting Pronouncements | |||||||||||||||||||||||||
Statement of Comprehensive Income | |||||||||||||||||||||||||
In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU No. 2013-02 requires 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 United States Generally Accepted Accounting Principles (U.S. 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. ASU No. 2013-02 is effective for reporting periods beginning after December 15, 2012. The Company adopted this ASU on December 30, 2012 with no impact on its financial statements. | |||||||||||||||||||||||||
During the twelve months ended December 28, 2013, the change in the Company's accumulated other comprehensive income was the net of $0.2 million cumulative translation adjustment, $(0.1) million unrealized holding losses on marketable securities, $(1.9) million of reclassified holding gains, $(1.6) million related to the sale of its III-V product line and $0.4 million million related to its acquisition of additional noncontrolling interest in Kowon. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Schedule of Inventory, Current | ' | |||||||||||||||
Inventory is stated at the lower of cost (determined on the first-in, first-out method) or market and consists of the following at December 28, 2013 and December 29, 2012: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Raw materials | $ | 1,441,569 | $ | 2,540,497 | ||||||||||||
Work-in-process | 1,003,540 | 1,880,202 | ||||||||||||||
Finished goods | 632,946 | 1,369,054 | ||||||||||||||
$ | 3,078,055 | $ | 5,789,753 | |||||||||||||
Schedule of Change in Asset Retirement Obligation | ' | |||||||||||||||
The Company recorded asset retirement obligations (ARO) liabilities of $0.3 million at December 28, 2013 and December 29, 2012, respectively. This represents the legal obligations associated with retirement of the Company’s assets when the timing and/or method of settling the obligation are conditional on a future event that may or may not be within the control of the Company. | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Beginning balance | $ | 322,477 | $ | 1,295,670 | ||||||||||||
Additions | — | 32,360 | ||||||||||||||
Charges | — | (424,785 | ) | |||||||||||||
Accretion and exchange rate change | 6,958 | 43,211 | ||||||||||||||
Reclassified to noncurrent liabilities held for sale | — | (623,979 | ) | |||||||||||||
Ending balance | $ | 329,435 | $ | 322,477 | ||||||||||||
Schedule of Weighted Average Number of Shares | ' | |||||||||||||||
Weighted-average common shares outstanding used to calculate earnings per share, is as follows: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Weighted-average common shares outstanding—basic | 62,347,852 | 63,617,680 | 64,405,776 | |||||||||||||
Stock options and nonvested restricted common stock | — | — | 828,436 | |||||||||||||
Weighted-average common shares outstanding—diluted | 62,347,852 | 63,617,680 | 65,234,212 | |||||||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | |||||||||||||||
The following were not included in weighted-average common shares outstanding- diluted because they are anti-dilutive or performance conditions have not been met at the end of the period. | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Nonvested restricted common stock | 3,024,148 | 2,283,048 | 613,934 | |||||||||||||
Stock options | 558,850 | 983,680 | 1,561,925 | |||||||||||||
Total | 3,582,998 | 3,266,728 | 2,175,859 | |||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||
The components of accumulated other comprehensive income are as follows: | ||||||||||||||||
Cumulative | Unrealized Holding | Non-Credit | Accumulated Other | |||||||||||||
Translation | (Loss) Gain on | Related | Comprehensive | |||||||||||||
Adjustment | Marketable | Losses on | Income (Loss) | |||||||||||||
Securities | Investments | |||||||||||||||
Balance as of December 25, 2010 | $ | 2,440,881 | $ | 3,797,302 | $ | (252,838 | ) | $ | 5,985,345 | |||||||
Changes during year | (1,121,011 | ) | (971,148 | ) | 252,838 | (1,839,321 | ) | |||||||||
Balance as of December 31, 2011 | 1,319,870 | 2,826,154 | — | 4,146,024 | ||||||||||||
Changes during year | 2,222,234 | 144,534 | — | 2,366,768 | ||||||||||||
Balance as of December 29, 2012 | 3,542,104 | 2,970,688 | — | 6,512,792 | ||||||||||||
Changes during year | (1,017,403 | ) | (2,053,392 | ) | — | (3,070,795 | ) | |||||||||
Balance as of December 28, 2013 | $ | 2,524,701 | $ | 917,296 | $ | — | $ | 3,441,997 | ||||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | ' | |||||||||||
The following table summarizes the results from discontinued operations: | ||||||||||||
Fiscal Years Ended (in millions) | ||||||||||||
28-Dec-13 | 29-Dec-12 | December 31, 2011 | ||||||||||
Net product and research and development revenues | $ | 2.3 | $ | 58.8 | $ | 66.5 | ||||||
(Loss) gain from discontinued operations before income taxes | (0.2 | ) | 4.5 | 5.9 | ||||||||
(Provision) benefit for income taxes on discontinued operations | — | (1.7 | ) | 3.8 | ||||||||
Discontinued operations, net of tax | (0.2 | ) | 2.8 | 9.7 | ||||||||
Gain on sale, net of $13.1 million of tax | 20.4 | — | — | |||||||||
Income from discontinued operations, net of tax | $ | 20.2 | $ | 2.8 | $ | 9.7 | ||||||
The following table summarizes the assets and the liabilities held for sale in the Company's consolidated balance sheet as of December 29, 2012: | ||||||||||||
(in millions) | ||||||||||||
Current assets | ||||||||||||
Cash and equivalents | $ | 2.4 | ||||||||||
Accounts receivable, net of allowance of $0.1 million | 7.6 | |||||||||||
Accounts receivable from unconsolidated affiliates | 0.6 | |||||||||||
Inventory | 10.6 | |||||||||||
Prepaid taxes | 0.2 | |||||||||||
Prepaid expenses and other current assets | 0.2 | |||||||||||
Total current assets held for sale | 21.6 | |||||||||||
Property, plant and equipment, net | 25.7 | |||||||||||
Deferred tax assets | 3.3 | |||||||||||
Other assets | 0.1 | |||||||||||
Total noncurrent assets held for sale | 29.1 | |||||||||||
Total assets held for sale | $ | 50.7 | ||||||||||
Current liabilities | ||||||||||||
Accounts payable | $ | 3.7 | ||||||||||
Accrued payroll and expenses | 1.8 | |||||||||||
Accrued warranty | 0.2 | |||||||||||
Other accrued liabilities | 1.4 | |||||||||||
Total current liabilities held for sale | $ | 7.1 | ||||||||||
Total noncurrent liabilities held for sale | $ | 0.6 | ||||||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||||
Dec. 28, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Property, Plant and Equipment | ' | |||||||||
Property, plant and equipment consisted of the following at December 28, 2013 and December 29, 2012: | ||||||||||
Useful Life | 2013 | 2012 | ||||||||
Land | $ | 915,595 | $ | 901,934 | ||||||
Buildings | 10 years | 2,398,188 | 2,424,152 | |||||||
Equipment | 3-5 years | 20,993,220 | 23,219,534 | |||||||
Leasehold improvements | Life of the lease | 3,441,553 | 11,157,960 | |||||||
Furniture and fixtures | 3 years | 910,270 | 783,030 | |||||||
Equipment under construction | 623,503 | 1,673,390 | ||||||||
29,282,329 | 40,160,000 | |||||||||
Accumulated depreciation and amortization | (23,247,366 | ) | (31,673,594 | ) | ||||||
Net property, plant and equipment | $ | 6,034,963 | $ | 8,486,406 | ||||||
Other_Assets_and_Amounts_Due_t1
Other Assets and Amounts Due to / Due From Affiliates (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 28, 2013 | Dec. 29, 2012 | |||||||||||||||||||||||
Other Assets and Related Party Transactions Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ' | ||||||||||||||||||||||
$0.7 million. | ||||||||||||||||||||||||
The table below shows amounts sold by the Company (revenues) from AWSC which are reflected in discontinued operations: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
AWSC | $ | — | $ | 8,192,000 | $ | 11,800,000 | ||||||||||||||||||
Schedule of Other Assets | ' | ' | ||||||||||||||||||||||
Other assets consist of the following as of December 28, 2013 and December 29, 2012: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Marketable Equity Securities | ||||||||||||||||||||||||
AWSC | $ | — | $ | 1,764,657 | ||||||||||||||||||||
WIN | — | 1,410,388 | ||||||||||||||||||||||
Vuzix Corporation | 1,433,102 | — | ||||||||||||||||||||||
Non-Marketable Securities—Equity Method Investments | ||||||||||||||||||||||||
KoBrite | 1,421,592 | 1,828,404 | ||||||||||||||||||||||
Non-Marketable Securities-Cost Based Investments | — | 3,485,394 | ||||||||||||||||||||||
Other | 169,764 | 119,039 | ||||||||||||||||||||||
$ | 3,024,458 | $ | 8,607,882 | |||||||||||||||||||||
Schedule of Gains (Losses) on Equity Method Investments | ' | ' | ||||||||||||||||||||||
Equity losses in unconsolidated affiliates recorded in the consolidated statement of operations are as follows: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
KoBrite | $ | (406,811 | ) | $ | (573,265 | ) | $ | (296,451 | ) | |||||||||||||||
Ikanos | — | (106,322 | ) | — | ||||||||||||||||||||
Ask Ziggy | $ | (218,287 | ) | $ | — | $ | — | |||||||||||||||||
Total | $ | (625,098 | ) | $ | (679,587 | ) | $ | (296,451 | ) | |||||||||||||||
Schedule of Condensed Financial Statements | ' | ' | ||||||||||||||||||||||
Summarized financial information for 2011 includes KoBrite for the year ended September 30, 2011. (Kobrite's results are recorded one quarter in arrears). Summarized financial information for 2012 includes Kobrite for the period ended September 30, 2012 and Ikanos, operating results only, for the six month period January 1, 2012 through June 30, 2012. Summarized financial information for 2013 includes Kobrite for the year ended September 30, 2013 and AZ for the five month period August 1, 2013 through December 28, 2013, and are as follows: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Current assets | $ | 7,769,000 | $ | 9,581,000 | $ | 12,468,000 | ||||||||||||||||||
Noncurrent assets | 10,663,000 | 12,701,000 | 15,927,000 | |||||||||||||||||||||
Current liabilities | 1,207,000 | 1,215,000 | 5,397,000 | |||||||||||||||||||||
Revenues | 5,085,000 | 6,010,000 | 7,938,000 | |||||||||||||||||||||
Margin loss | (2,501,000 | ) | (2,732,000 | ) | (794,000 | ) | ||||||||||||||||||
Loss from operations | (6,114,000 | ) | (4,938,000 | ) | (2,685,000 | ) | ||||||||||||||||||
Net loss | (5,526,000 | ) | (5,308,000 | ) | (2,526,000 | ) |
Business_Combinations_Tables
Business Combinations (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Business Acquisition, Pro Forma Information | ' | |||||||||||
Business Combinations | ||||||||||||
Ikanos | ||||||||||||
During the three month period ended March 31, 2012 the Company acquired a 25% interest in Ikanos, a private company, for $0.7 million and accounted for its interest using the equity method of accounting. On July 10, 2012, the Company purchased an additional 70,748 newly issued shares of Ikanos common stock for approximately $2.5 million, from Ikanos (the "Transaction"). As a result of this transaction and the Company's previous investment in Ikanos, the Company owns approximately 51% of the outstanding stock of Ikanos. The remaining 49% is held by other investors and employees of Ikanos. The Company began consolidating Ikanos on July 1, 2012. | ||||||||||||
The total purchase price was $2,581,000 and is comprised of | ||||||||||||
Cash consideration | $ | 2,500,000 | ||||||||||
Fair market value of Kopin's previously held equity method investment in Ikanos | 81,000 | |||||||||||
Total purchase price | $ | 2,581,000 | ||||||||||
The purchase price was as follows: | ||||||||||||
July 10, 2012 (As initially reported) | Measurement period adjustments | July 10, 2012 (As adjusted) | ||||||||||
Cash and marketable securities | $ | 2,594,000 | $ | — | $ | 2,594,000 | ||||||
Accounts receivable | 167,000 | — | 167,000 | |||||||||
Property, plant and equipment | 277,000 | — | 277,000 | |||||||||
Customer Relationships | — | 400,000 | 400,000 | |||||||||
Trade name | — | 170,000 | 170,000 | |||||||||
Goodwill | 1,141,000 | (456,000 | ) | 685,000 | ||||||||
Other identifiable assets | 111,000 | — | 111,000 | |||||||||
Identifiable liabilities | (325,000 | ) | (114,000 | ) | (439,000 | ) | ||||||
Noncontrolling interest in Ikanos | (1,384,000 | ) | — | (1,384,000 | ) | |||||||
Total | $ | 2,581,000 | $ | — | $ | 2,581,000 | ||||||
The Company remeasured and decreased its investment in Ikanos by approximately $558,000 within the statement of operations which represented the fair market value of the investment immediately prior to the Transaction. | ||||||||||||
The results of operations of the Ikanos acquisition have been included in the consolidated statements of operations from the time the Company assumed majority ownership, approximately July 1, 2012. Ikanos' net loss from operations included in the consolidated results of operation for the year ended December 29, 2012 was $1.5 million. The transaction related costs associated with the Ikanos acquisition were considered immaterial and are included within selling, general and administrative expense for the fiscal year ended December 29, 2012. The goodwill will not be deductible for tax purposes. In 2013, Ikanos repurchased some of its outstanding common stock and the Company increased its ownership of Ikanos to 58%. | ||||||||||||
eMDT | ||||||||||||
In April 2013, the Company acquired 51% of the outstanding stock of eMDT, a private company, for $400,000. The Company has an option to acquire an additional 25% of the Company for $200,000. In connection with the acquisition, the Company has preliminarily allocated excess purchase price in the amount of approximately $400,000 to goodwill. The Company's has finalized the purchase accounting. | ||||||||||||
The results of operations of the eMDT acquisition have been included in the consolidated statements of operations from the time the Company assumed majority ownership, approximately April 17, 2013. eMDT's net loss from operations included in the consolidated results of operation for the year ended December 28, 2013 was $0.3 million. The transaction related costs associated with the eMDT acquisition were considered immaterial and are included within selling, general and administrative expense for the fiscal year ended December 28, 2013. The goodwill will not be deductible for tax purposes. | ||||||||||||
The unaudited pro forma financial results for the fiscal years ended December 28, 2013 and December 29, 2012 combine the unaudited historical results of the Company along with the unaudited historical results of Ikanos and eMDT. The results include the effects of unaudited pro forma adjustments as if Ikanos and eMDT were acquired on January 1, 2012 (the first day of the Company's fiscal year 2012). There were no material nonrecurring pro forma adjustments in the calculation of revenue or earnings. The pro forma financial results presented below do not include any anticipated synergies or other expected benefits of the acquisition. These results are presented for informational purposes only and are not necessarily indicative of future operations. | ||||||||||||
Twelve Months Ended | ||||||||||||
December 28, 2013 | December 29, 2012 | |||||||||||
Revenue | $ | 23,103,000 | $ | 36,142,000 | ||||||||
Net Loss | (4,670,000 | ) | (18,805,000 | ) | ||||||||
Ikanos | ' | |||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | |||||||||||
The purchase price was as follows: | ||||||||||||
July 10, 2012 (As initially reported) | Measurement period adjustments | July 10, 2012 (As adjusted) | ||||||||||
Cash and marketable securities | $ | 2,594,000 | $ | — | $ | 2,594,000 | ||||||
Accounts receivable | 167,000 | — | 167,000 | |||||||||
Property, plant and equipment | 277,000 | — | 277,000 | |||||||||
Customer Relationships | — | 400,000 | 400,000 | |||||||||
Trade name | — | 170,000 | 170,000 | |||||||||
Goodwill | 1,141,000 | (456,000 | ) | 685,000 | ||||||||
Other identifiable assets | 111,000 | — | 111,000 | |||||||||
Identifiable liabilities | (325,000 | ) | (114,000 | ) | (439,000 | ) | ||||||
Noncontrolling interest in Ikanos | (1,384,000 | ) | — | (1,384,000 | ) | |||||||
Total | $ | 2,581,000 | $ | — | $ | 2,581,000 | ||||||
Schedule of Business Acquisitions, by Acquisition | ' | |||||||||||
The total purchase price was $2,581,000 and is comprised of | ||||||||||||
Cash consideration | $ | 2,500,000 | ||||||||||
Fair market value of Kopin's previously held equity method investment in Ikanos | 81,000 | |||||||||||
Total purchase price | $ | 2,581,000 | ||||||||||
Goodwill_and_Intangibles_Table
Goodwill and Intangibles (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||
Schedule of Goodwill | ' | |||||||
The Company’s goodwill balance is as follows: | ||||||||
Fiscal Year Ended | ||||||||
December 28, 2013 | 29-Dec-12 | |||||||
Beginning Balance | $ | 684,789 | $ | 1,664,457 | ||||
Acquisition of Ikanos | — | 684,789 | ||||||
Acquisition of eMDT | 395,713 | — | ||||||
Adjustments | (64,370 | ) | (1,704,770 | ) | ||||
Translation adjustments | — | 40,313 | ||||||
Ending Balance | $ | 1,016,132 | $ | 684,789 | ||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | ' | |||||||
The estimated aggregate annual amortization expense relating to acquired intangible assets is as follows. | ||||||||
Fiscal Year ending, | Amount | |||||||
2014 | $ | 711,324 | ||||||
2015 | 710,422 | |||||||
2016 | 94,266 | |||||||
2017 | 21,830 | |||||||
2018 | 21,830 | |||||||
Thereafter | 21,830 | |||||||
Total annual amortization expense | $ | 1,581,502 | ||||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping | ' | |||||||||||||||||||||||||||||||
The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets: | ||||||||||||||||||||||||||||||||
Fair Value Measurement at December 28, 2013 Using: | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||
Money Markets and Cash Equivalents | $ | 16,756,666 | $ | 16,756,666 | $ | — | $ | — | ||||||||||||||||||||||||
U.S. Government Securities | 68,284,392 | 16,542,003 | 51,742,389 | — | ||||||||||||||||||||||||||||
Corporate Debt | 12,984,331 | — | 12,984,331 | — | ||||||||||||||||||||||||||||
Certificates of Deposit | 14,703,812 | — | 14,703,812 | — | ||||||||||||||||||||||||||||
Vuzix Corporation | 1,433,102 | 1,433,102 | — | — | ||||||||||||||||||||||||||||
$ | 114,162,303 | $ | 34,731,771 | $ | 79,430,532 | $ | — | |||||||||||||||||||||||||
Fair Value Measurement at December 29, 2012 Using: | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||
Money Markets and Cash Equivalents | $ | 27,135,387 | $ | 27,135,387 | $ | — | $ | — | ||||||||||||||||||||||||
U.S. Government Securities | 38,582,956 | 17,576,878 | 21,006,078 | — | ||||||||||||||||||||||||||||
Corporate Debt | 11,095,227 | — | 11,095,227 | — | ||||||||||||||||||||||||||||
Certificates of Deposit | 15,671,779 | — | 15,671,779 | — | ||||||||||||||||||||||||||||
WIN Semiconductor Corp. | 1,410,388 | 1,410,388 | — | — | ||||||||||||||||||||||||||||
Advanced Wireless Semiconductor Company | 1,764,657 | 1,764,657 | — | — | ||||||||||||||||||||||||||||
$ | 95,660,394 | $ | 47,887,310 | $ | 47,773,084 | $ | — | |||||||||||||||||||||||||
Available-for-sale Securities | ' | |||||||||||||||||||||||||||||||
Investments in available-for-sale marketable debt securities are as follows at December 28, 2013 and December 29, 2012: | ||||||||||||||||||||||||||||||||
Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
U.S. government and agency backed securities | $ | 68,970,505 | $ | 38,074,136 | $ | — | $ | 508,820 | $ | (686,113 | ) | $ | — | $ | 68,284,392 | $ | 38,582,956 | |||||||||||||||
Corporate debt and certificates of deposits | 27,767,513 | 27,031,866 | — | — | (79,370 | ) | (264,860 | ) | 27,688,143 | 26,767,006 | ||||||||||||||||||||||
Total | $ | 96,738,018 | $ | 65,106,002 | $ | — | $ | 508,820 | $ | (765,483 | ) | $ | (264,860 | ) | $ | 95,972,535 | $ | 65,349,962 | ||||||||||||||
Investments Classified by Contractual Maturity Date | ' | |||||||||||||||||||||||||||||||
The contractual maturity of the Company’s marketable debt securities is as follows at December 28, 2013: | ||||||||||||||||||||||||||||||||
Less than | One to | Greater than | Total | |||||||||||||||||||||||||||||
One year | Five years | Five years | ||||||||||||||||||||||||||||||
U.S. government and agency backed securities | $ | 12,207,098 | $ | 44,260,888 | $ | 11,816,406 | $ | 68,284,392 | ||||||||||||||||||||||||
Corporate debt and certificates of deposits | 22,768,523 | 3,919,620 | 1,000,000 | 27,688,143 | ||||||||||||||||||||||||||||
Total | $ | 34,975,621 | $ | 48,180,508 | $ | 12,816,406 | $ | 95,972,535 | ||||||||||||||||||||||||
Stockholders_Equity_and_StockB1
Stockholders' Equity and Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||
Stock- Based Compensation | ' | |||||||||||||||||
A summary of stock option activity under the stock award plans as of December 28, 2013 and changes during the twelve month period is as follows: | ||||||||||||||||||
2013 | ||||||||||||||||||
Shares | Weighted | |||||||||||||||||
Average | ||||||||||||||||||
Exercise | ||||||||||||||||||
Price | ||||||||||||||||||
Balance, beginning of year | 983,680 | $ | 5.26 | |||||||||||||||
Options forfeited/canceled | (424,830 | ) | 5.48 | |||||||||||||||
Options exercised | — | — | ||||||||||||||||
Balance, end of year | 558,850 | $ | 5.09 | |||||||||||||||
Exercisable, end of year | 558,850 | |||||||||||||||||
Stock Options Outstanding and Exercisable | ' | |||||||||||||||||
The following table summarizes information about stock options outstanding and exercisable at December 28, 2013: | ||||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||||
Range of Exercise Prices | Number | Weighted | Weighted | Number | Weighted | |||||||||||||
Outstanding | Average | Average | Exercisable | Average | ||||||||||||||
Remaining | Exercise | Exercise | ||||||||||||||||
Contractual | Price | Price | ||||||||||||||||
Life (Years) | ||||||||||||||||||
$ 0.01—$ 3.50 | 130,000 | 2 | $ | 3.49 | 130,000 | $ | 3.49 | |||||||||||
$ 3.75—$ 4.82 | 328,850 | 1 | 4.23 | 328,850 | 4.23 | |||||||||||||
$ 5.00—$ 8.03 | — | 2.23 | 5.4 | — | 5.4 | |||||||||||||
$10.00—$10.00 | 100,000 | 1 | 10 | 100,000 | 10 | |||||||||||||
558,850 | 1.23 | $ | 5.09 | 558,850 | $ | 5.09 | ||||||||||||
Aggregate intrinsic value on December 28, 2013 | $ | 182,643 | $ | 182,643 | ||||||||||||||
NonVested Restricted Common Stock | ' | |||||||||||||||||
A summary of the activity for nonvested restricted common stock awards as of December 28, 2013 and changes during the twelve months then ended is presented below: | ||||||||||||||||||
Shares | Weighted | |||||||||||||||||
Average | ||||||||||||||||||
Grant | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Balance, December 29, 2012 | 2,283,048 | $ | 4.76 | |||||||||||||||
Granted | 2,135,000 | 3.22 | ||||||||||||||||
Forfeited | (227,000 | ) | 3.87 | |||||||||||||||
Vested | (1,216,900 | ) | 3.46 | |||||||||||||||
Balance, December 28, 2013 | 2,974,148 | $ | 4.25 | |||||||||||||||
Stock-Based Compensation Expense | ' | |||||||||||||||||
The following table summarizes stock-based compensation expense related to employee stock options and nonvested restricted common stock awards for the fiscal years 2013, 2012 and 2011 (no tax benefits were recognized): | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Cost of product revenues | $ | 414,842 | $ | 513,789 | $ | 613,274 | ||||||||||||
Research and development | 423,548 | 366,443 | 577,514 | |||||||||||||||
Selling, general and administrative | 3,365,018 | 3,606,758 | 2,732,840 | |||||||||||||||
Total | $ | 4,203,408 | $ | 4,486,990 | $ | 3,923,628 | ||||||||||||
Concentrations_of_Risk_Tables
Concentrations of Risk (Tables) | 12 Months Ended | |||||
Dec. 28, 2013 | ||||||
Risks and Uncertainties [Abstract] | ' | |||||
Schedules of Concentration of Risk, by Risk Factor | ' | |||||
The following table depicts the customer’s trade receivable balance as a percentage of gross trade receivables as of the end of the year indicated. (The symbol “*” indicates that accounts receivables from that customer were less than 10% of the Company’s total accounts receivable.) | ||||||
Percent of Gross | ||||||
Accounts Receivable | ||||||
Customer | 2013 | 2012 | ||||
Company A | 22 | * | ||||
Company B | 12 | * | ||||
Company C | 12 | * | ||||
Company D | * | 37 | ||||
Company E | * | 12 | ||||
Sales to significant non-affiliated customers for fiscal years 2013, 2012 and 2011, as a percentage of total revenues, is shown in the table below. Note the caption “Military Customers in Total” in the table below excludes research and development contracts. The Company sells its displays to Japanese customers through Ryoden Trading Company. (The symbol “*” indicates that sales to that customer were less than 10% of the Company’s total revenues.) | ||||||
Sales as a Percent | ||||||
of Total Revenue | ||||||
Fiscal Year | ||||||
Customer | 2013 | 2012 | 2011 | |||
Military Customers in Total | 38 | 57 | 60 | |||
Company A | 18 | 12 | 15 | |||
Company D | 13 | 22 | 23 | |||
Company E | * | 21 | 18 | |||
Company F | * | * | 10 | |||
United States Government Funded Research and Development Contracts | 7 | 10 | 8 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | |||||||||||
The (benefit) provision for income taxes from continuing operations consists of the following for the fiscal years indicated: | ||||||||||||
Fiscal Year | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current | ||||||||||||
Federal | $ | (13,124,000 | ) | $ | — | $ | 52,000 | |||||
State | 12,000 | 64,000 | 88,000 | |||||||||
Foreign | (34,000 | ) | — | (137,000 | ) | |||||||
Total current (benefit) provision | (13,146,000 | ) | 64,000 | 3,000 | ||||||||
Deferred | ||||||||||||
Federal | (3,616,000 | ) | (2,878,000 | ) | 3,977,000 | |||||||
State | 644,000 | (505,000 | ) | (30,000 | ) | |||||||
Foreign | (565,000 | ) | 73,000 | (898,000 | ) | |||||||
Change in valuation allowance | 3,750,000 | 4,345,000 | (3,052,000 | ) | ||||||||
Total deferred provision | 213,000 | 1,035,000 | (3,000 | ) | ||||||||
Total (benefit) provision for income taxes | $ | (12,933,000 | ) | $ | 1,099,000 | $ | — | |||||
Schedule of Effective Income Tax Rate Reconciliation | ' | |||||||||||
A reconciliation of income tax (benefit) provision from continuing operations as computed at the U.S. federal statutory income tax rate to the provision for income tax benefit is as follows: | ||||||||||||
Fiscal Year | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Tax provision at federal statutory rates | $ | (13,322,000 | ) | $ | (7,002,000 | ) | $ | (2,006,000 | ) | |||
State tax liability | 8,000 | 42,000 | 57,000 | |||||||||
Foreign deferred | (644,000 | ) | 734,000 | 611,000 | ||||||||
Foreign withholding | 308,000 | 1,170,000 | — | |||||||||
Outside basis in KTC and Kowon, net | (202,000 | ) | 2,422,000 | — | ||||||||
Goodwill | — | 417,000 | 771,000 | |||||||||
Nondeductible expenses | 864,000 | 180,000 | 415,000 | |||||||||
Increase in net state operating loss carryforwards | (2,868,000 | ) | — | — | ||||||||
Provision to tax return adjustments and state tax rate change | (33,000 | ) | (462,000 | ) | 888,000 | |||||||
Tax credits | (390,000 | ) | (100,000 | ) | 1,188,000 | |||||||
Non-deductible equity compensation | (418,000 | ) | 136,000 | 1,542,000 | ||||||||
Other, net | 14,000 | (783,000 | ) | (414,000 | ) | |||||||
Change in valuation allowance | 3,750,000 | 4,345,000 | (3,052,000 | ) | ||||||||
$ | (12,933,000 | ) | $ | 1,099,000 | $ | — | ||||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||||||
Deferred income tax assets and liabilities consist of the following: | ||||||||||||
Fiscal Year | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax liability: | ||||||||||||
Intangible asset | $ | (141,000 | ) | $ | (636,000 | ) | ||||||
Foreign withholding liability | (1,478,000 | ) | (1,170,000 | ) | ||||||||
Foreign unremitted earnings | (3,276,000 | ) | (3,478,000 | ) | ||||||||
Deferred tax assets: | ||||||||||||
Federal net operating loss carryforwards | 15,322,000 | 9,493,000 | ||||||||||
State net operating loss carryforwards | 624,000 | 580,000 | ||||||||||
Foreign net operating loss carryforwards | 3,202,000 | 3,028,000 | ||||||||||
Equity awards | 1,666,000 | 1,111,000 | ||||||||||
Tax credits | 5,657,000 | 5,267,000 | ||||||||||
Equipment | 838,000 | 4,131,000 | ||||||||||
Investments | 4,594,000 | 4,760,000 | ||||||||||
Other | 3,365,000 | 3,582,000 | ||||||||||
Net deferred tax assets | 30,373,000 | 26,668,000 | ||||||||||
Valuation allowance | (31,886,000 | ) | (27,973,000 | ) | ||||||||
$ | (1,513,000 | ) | $ | (1,305,000 | ) |
Accrued_Warranty_Tables
Accrued Warranty (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Product Warranties Disclosures [Abstract] | ' | |||||||
Accrued Warranty | ' | |||||||
Changes in the accrued warranty for fiscal years 2013 and 2012 are as follows: | ||||||||
Fiscal Year Ended | ||||||||
December 28, | December 29, 2012 | |||||||
2013 | ||||||||
Beginning Balance | $ | 716,000 | $ | 1,318,000 | ||||
Additions | 798,000 | 1,777,000 | ||||||
Claim and reversals | (798,000 | ) | (2,229,000 | ) | ||||
Reclassified to current liabilities held for sale | — | (150,000 | ) | |||||
Ending Balance | $ | 716,000 | $ | 716,000 | ||||
Commintments_and_Contingencies1
Commintments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 28, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | |||
The following is a schedule of minimum rental commitments under non-cancelable operating leases at December 28, 2013: | ||||
Fiscal Year ending, | Amount | |||
2014 | $ | 1,266,000 | ||
2015 | 1,177,000 | |||
2016 | 836,000 | |||
2017 | 665,000 | |||
2018 | 641,000 | |||
Thereafter | 2,768,000 | |||
Total minimum lease payments | $ | 7,353,000 | ||
Segments_and_Geographical_Info1
Segments and Geographical Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segments And Geographical Information | ' | ||||||||||||||||||||
The segment information for the prior periods presented has been recast to reflect the change in reportable segments. | |||||||||||||||||||||
Kopin | FDD | Total | |||||||||||||||||||
2013 | |||||||||||||||||||||
Revenues | $ | 19,883 | $ | 3,014 | $ | 22,898 | |||||||||||||||
Net income (loss) attributable to the controlling interest | (2,003 | ) | (2,707 | ) | (4,710 | ) | |||||||||||||||
Total assets from continuing operations | 143,953 | 2,179 | 146,132 | ||||||||||||||||||
Long-lived assets from continuing operations | 5,488 | 547 | 6,035 | ||||||||||||||||||
2012 | |||||||||||||||||||||
Revenues | $ | 31,879 | $ | 2,763 | $ | 34,642 | |||||||||||||||
Net (loss) income attributable to the controlling interest | (17,067 | ) | (4,083 | ) | (21,150 | ) | |||||||||||||||
Total assets from continuing operations | 134,375 | 4,202 | 138,577 | ||||||||||||||||||
Long-lived assets from continuing operations | 7,728 | 758 | 8,486 | ||||||||||||||||||
2011 | |||||||||||||||||||||
Revenues | $ | 59,785 | $ | 4,874 | $ | 64,659 | |||||||||||||||
Net income (loss) attributable to the controlling interest | 244 | (6,878 | ) | (6,634 | ) | ||||||||||||||||
Total assets from continuing operations | 187,215 | 6,657 | 193,872 | ||||||||||||||||||
Long-lived assets from continuing operations | 31,331 | 1,038 | 32,369 | ||||||||||||||||||
Revenues and Percentage of Revenues by Geographies | ' | ||||||||||||||||||||
Geographical revenue information for the three years ended December 28, 2013, December 29, 2012 and December 31, 2011 was based on the location of the customers and is as follows: | |||||||||||||||||||||
Fiscal Year | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Revenue | % of Total | Revenue | % of Total | Revenue | % of Total | ||||||||||||||||
US | $ | 11,927,000 | 53 | % | $ | 25,356,000 | 73 | % | $ | 48,707,000 | 75 | % | |||||||||
Other Americas | 230,000 | 1 | % | 93,000 | — | % | 632,000 | 1 | % | ||||||||||||
Total Americas | 12,157,000 | 54 | % | 25,449,000 | 73 | % | 49,339,000 | 76 | % | ||||||||||||
Asia-Pacific | 8,292,000 | 36 | % | 7,132,000 | 21 | % | 12,300,000 | 19 | % | ||||||||||||
Europe | 2,449,000 | 10 | % | 2,061,000 | 6 | % | 3,020,000 | 5 | % | ||||||||||||
Total Revenues | $ | 22,898,000 | 100 | % | $ | 34,642,000 | 100 | % | $ | 64,659,000 | 100 | % | |||||||||
Long-Lived Assets by Geography | ' | ||||||||||||||||||||
Long-lived assets by geographic area are as follows: | |||||||||||||||||||||
Fiscal Years | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
United States of America | $ | 3,050,000 | $ | 4,840,000 | |||||||||||||||||
United Kingdom | 795,000 | 1,072,000 | |||||||||||||||||||
Republic of Korea | 2,190,000 | 2,574,000 | |||||||||||||||||||
$ | 6,035,000 | $ | 8,486,000 | ||||||||||||||||||
Selected_Quarterly_Financial_I1
Selected Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Information | ' | |||||||||||||||
Quarterly Periods During Fiscal Year Ended December 28, 2013: | ||||||||||||||||
Three months ended March 30, 2013 | Three months ended June 29, 2013 | Three months ended September 28, 2013 | Three months | |||||||||||||
ended | ||||||||||||||||
December 28, | ||||||||||||||||
2013 (3) | ||||||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Revenue | $ | 6,319 | $ | 6,079 | $ | 4,950 | $ | 5,550 | ||||||||
Gross profit (2) | $ | (396 | ) | $ | (595 | ) | $ | 267 | $ | 645 | ||||||
(Loss) income from continuing operations | $ | 1,168 | $ | (8,062 | ) | $ | (9,015 | ) | $ | (9,844 | ) | |||||
Net loss attributable to the controlling interest | $ | 21,634 | $ | (7,910 | ) | $ | (8,771 | ) | $ | (9,660 | ) | |||||
Net loss per share from continuing operations (1): | ||||||||||||||||
Basic | $ | 0.34 | $ | (0.13 | ) | $ | (0.14 | ) | $ | (0.16 | ) | |||||
Diluted | $ | 0.34 | $ | (0.13 | ) | $ | (0.14 | ) | $ | (0.16 | ) | |||||
Shares used in computing net loss per share from continuing operations: | ||||||||||||||||
Basic | 63,936 | 62,492 | 63,542 | 61,529 | ||||||||||||
Diluted | 63,936 | 62,492 | 63,542 | 61,529 | ||||||||||||
-1 | Net income (loss) per share is computed independently for each of the quarters presented; accordingly, the sum of the quarterly net income per share may not equal the total computed for the year. | |||||||||||||||
-2 | Gross profit is defined as net product revenue less cost of product revenues. | |||||||||||||||
-3 | Includes $4.0 million impact in loss from continuing operations and net loss attributable to the controlling interest attributable to the impairment of intangibles and write off of investments for the three month period ended December 28, 2013, as described in Notes 4 and 6. | |||||||||||||||
Quarterly Periods During Fiscal Year Ended December 29, 2012: | ||||||||||||||||
Three months ended March 31, 2012 | Three months ended June 30, 2012 | Three months ended September 29, 2012 | Three months ended December 29, 2012 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Revenue | $ | 10,866 | $ | 7,012 | $ | 8,190 | $ | 8,574 | ||||||||
Gross profit (2) | $ | 3,253 | $ | 1,127 | $ | 2,451 | $ | 2,425 | ||||||||
(Loss) income from continuing operations | $ | (2,712 | ) | $ | (6,456 | ) | $ | (6,849 | ) | $ | (5,766 | ) | ||||
Net loss attributable to the controlling interest | $ | (2,578 | ) | $ | (5,199 | ) | $ | (6,724 | ) | $ | (3,861 | ) | ||||
Net loss per share from continuing operations (1): | ||||||||||||||||
Basic | $ | (0.04 | ) | $ | (0.08 | ) | $ | (0.11 | ) | $ | (0.06 | ) | ||||
Diluted | $ | (0.04 | ) | $ | (0.08 | ) | $ | (0.11 | ) | $ | (0.06 | ) | ||||
Shares used in computing net loss per share from continuing operations: | ||||||||||||||||
Basic | 64,225 | 63,078 | 63,415 | 63,836 | ||||||||||||
Diluted | 64,225 | 63,078 | 63,415 | 63,836 | ||||||||||||
-1 | Net loss per share is computed independently for each of the quarters presented; accordingly, the sum of the quarterly net income per share may not equal the total computed for the year. | |||||||||||||||
-2 | Gross profit is defined as net product revenue less cost of product revenues. | |||||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 25, 2010 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Mar. 14, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Non-vested restricted common stock | Non-vested restricted common stock | Non-vested restricted common stock | Stock options | Stock options | Stock options | Minimum | Maximum | Period 1 | Period 2 | Period 3 | Restricted stock | Restricted stock | Phantom stock | Phantom stock | Restricted stock and phantom stock | Restricted stock and phantom stock | Restricted stock and phantom stock | Restricted stock and phantom stock | Subsequent event | Kowon | Kowon | Ikanos | eMDT | Accumulated Net Unrealized Investment Gain (Loss) | Business Acquisition One | Accumulated Other Comprehensive Income (Loss) | Accumulated Translation Adjustment | Scenario, Adjustment | Scenario, Adjustment | |||||||||||||
display_units | Period 1 | Period 2 | Period 3 | Kowon | ||||||||||||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fiscal Year Duration | ' | ' | ' | ' | ' | ' | ' | ' | '52 weeks | '52 | '53 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Kopin's ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 93.00% | 78.00% | -58.00% | 51.00% | ' | ' | ' | ' | ' | ' |
Consideration transferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting interests acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory, Net, Items Net of Reserve Alternative [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Raw materials | 1,441,569 | ' | ' | ' | 2,540,497 | ' | ' | ' | 1,441,569 | 2,540,497 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Work-in-process | 1,003,540 | ' | ' | ' | 1,880,202 | ' | ' | ' | 1,003,540 | 1,880,202 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finished goods | 632,946 | ' | ' | ' | 1,369,054 | ' | ' | ' | 632,946 | 1,369,054 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory | 3,078,055 | ' | ' | ' | 5,789,753 | ' | ' | ' | 3,078,055 | 5,789,753 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful life of property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warranty reserves | 700,000 | ' | ' | ' | 0 | ' | ' | ' | 700,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product warranty claims and reversals | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | 2,200,000 | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset retirement obligation, beginning balance | ' | ' | ' | 322,477 | ' | ' | ' | 1,295,670 | 322,477 | 1,295,670 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 32,360 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -424,785 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional liabilities incurred | ' | ' | ' | ' | ' | ' | ' | ' | 6,958 | 43,211 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassified to non-current assets held for sale | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -623,979 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset retirement obligation, ending balance | 329,435 | ' | ' | ' | 322,477 | ' | ' | ' | 329,435 | 322,477 | 1,295,670 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average common shares outstanding - basic (in shares) | 61,529,000 | 63,542,000 | 62,492,000 | 63,936,000 | 63,836,000 | 63,415,000 | 63,078,000 | 64,225,000 | 62,347,852 | 63,617,680 | 64,405,776 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options and non-vested restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 828,436 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding - diluted (in shares) | 61,529,000 | 63,542,000 | 62,492,000 | 63,936,000 | 63,836,000 | 63,415,000 | 63,078,000 | 64,225,000 | 62,347,852 | 63,617,680 | 65,234,212 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 3,582,998 | 3,266,728 | 2,175,859 | ' | 3,024,148 | 2,283,048 | 613,934 | 558,850 | 983,680 | 1,561,925 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonvested common stock awards employment obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '2 years | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation awards, number of shares of stock granted | ' | ' | ' | ' | ' | ' | ' | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 260,000 | 260,000 | 380,000 | 380,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period following the grant date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold closing price of common stock for vesting | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6 | $7 | $5.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | 2,524,701 | ' | ' | ' | 3,542,104 | ' | ' | ' | 2,524,701 | 3,542,104 | 1,319,870 | 2,440,881 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | -1,017,403 | 2,222,234 | -1,121,011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 917,296 | ' | ' | ' | 2,970,688 | ' | ' | ' | 917,296 | 2,970,688 | 2,826,154 | 3,797,302 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | -2,053,392 | 144,534 | -971,148 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | 252,838 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Available-for-sale Securities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -252,838 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 3,441,997 | ' | ' | ' | 6,512,792 | ' | ' | ' | 3,441,997 | 6,512,792 | 4,146,024 | 5,985,345 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | -3,070,795 | 2,366,768 | -1,839,321 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of long-lived assets excluding assets held for sale | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | -116,134 | 730,967 | -260,502 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -100,000 | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | ' | ' | ' | ' | ' | ' | ' | ' | -1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Sale of Business | ' | ' | ' | ' | ' | ' | ' | ' | 33,452,176 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,600,000 | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest | 9,939 | ' | ' | ' | 6,352,230 | ' | ' | ' | 9,939 | 6,352,230 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 355,300 | ' | ' | ' |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | ($6,555,083) | ($15,995,162) | $1,240,043 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.60) | ($0.10) |
Market Condition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 30, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 16, 2013 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Purchase Price | ' | ' | ' | ' | $70,200,000 |
Accounts and Notes Receivable, Net | ' | 14,866,666 | 0 | ' | 14,800,000 |
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | ' | ' | ' | ' | ' |
Income from discontinued operations, net of tax | ' | 20,147,532 | 2,789,048 | 9,713,059 | ' |
Assets | ' | ' | ' | ' | ' |
Total current assets held for sale | ' | 0 | 21,573,729 | ' | ' |
Total noncurrent assets held for sale | ' | 0 | 29,145,732 | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Total current liabilities held for sale | ' | 0 | 7,102,895 | ' | ' |
Total noncurrent liabilities held for sale | ' | 0 | 623,979 | ' | ' |
III-V product line including all outstanding equity interest in KTC Wireless, LLC | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' |
Aggregate purchase price | ' | ' | ' | ' | 75,000,000 |
Proceeds received from divestiture | 55,200,000 | ' | ' | ' | ' |
Consideration to be paid on the third anniversary of the Closing Date | ' | ' | ' | ' | 15,000,000 |
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | ' | ' | ' | ' | ' |
Net sales and other operating revenues | ' | 2,300,000 | 58,800,000 | 66,500,000 | ' |
Income from operations before income taxes | ' | -200,000 | 4,500,000 | 5,900,000 | ' |
Provision for income taxes on operations | ' | 0 | -1,700,000 | 3,800,000 | ' |
Income from operations, net of tax | ' | -200,000 | 2,800,000 | 9,700,000 | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | 20,400,000 | 0 | 0 | ' |
Income from discontinued operations, net of tax | ' | 20,200,000 | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Allowance for Doubtful Accounts Receivable | ' | 100,000 | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and equivalents | ' | 2,400,000 | ' | ' | ' |
Accounts receivable, net of allowance of $0.1 million | ' | 7,600,000 | ' | ' | ' |
Accounts receivable from unconsolidated affiliates | ' | 600,000 | ' | ' | ' |
Inventory | ' | 10,600,000 | ' | ' | ' |
Prepaid taxes | ' | 200,000 | ' | ' | ' |
Prepaid expenses and other current assets | ' | 200,000 | ' | ' | ' |
Total current assets held for sale | ' | 21,600,000 | ' | ' | ' |
Property, plant and equipment, net | ' | 25,700,000 | ' | ' | ' |
Deferred tax assets | ' | 3,300,000 | ' | ' | ' |
Other assets | ' | 100,000 | ' | ' | ' |
Total noncurrent assets held for sale | ' | 29,100,000 | ' | ' | ' |
Total assets held for sale | ' | 50,700,000 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Accounts payable | ' | 3,700,000 | ' | ' | ' |
Accrued payroll and expenses | ' | 1,800,000 | ' | ' | ' |
Accrued warranty | ' | 200,000 | ' | ' | ' |
Other accrued liabilities | ' | 1,400,000 | ' | ' | ' |
Total current liabilities held for sale | ' | 7,100,000 | ' | ' | ' |
Total noncurrent liabilities held for sale | ' | $600,000 | ' | ' | ' |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | $29,282,329 | $40,160,000 | ' |
Accumulated depreciation and amortization | -23,247,366 | -31,673,594 | ' |
Net property, plant and equipment | 6,034,963 | 8,486,406 | ' |
Depreciation expense | 2,400,000 | 3,500,000 | 3,800,000 |
Minimum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful Life | '3 years | ' | ' |
Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful Life | '10 years | ' | ' |
Land | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | 915,595 | 901,934 | ' |
Buildings | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | 2,398,188 | 2,424,152 | ' |
Buildings | Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful Life | '10 years | ' | ' |
Equipment | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | 20,993,220 | 23,219,534 | ' |
Equipment | Minimum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful Life | '3 years | ' | ' |
Equipment | Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful Life | '5 years | ' | ' |
Leasehold improvements | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | 3,441,553 | 11,157,960 | ' |
Furniture and fixtures | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | 910,270 | 783,030 | ' |
Furniture and fixtures | Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful Life | '3 years | ' | ' |
Equipment under construction | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | $623,503 | $1,673,390 | ' |
Other_Assets_and_Amounts_Due_t2
Other Assets and Amounts Due to / Due From Affiliates (Other Assets) (Details) (USD $) | Dec. 28, 2013 | Jan. 16, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 |
KoBrite | KoBrite | Advanced Wireless Semiconductor Company | Advanced Wireless Semiconductor Company | WIN Semiconductor Corporation | WIN Semiconductor Corporation | Vuzix | Investee | Investee | Investee | Investee | ||||
Advanced Wireless Semiconductor Company | Vuzix | Ask Ziggy | Ask Ziggy | |||||||||||
Schedule of Other Assets, Including Investments in Affiliates [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Other than Temporary Impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,500,000 | ' |
Available-for-sale Securities, Fair Value Disclosure | 95,972,535 | ' | 65,349,962 | ' | ' | ' | ' | ' | 1,400,000 | ' | 1,800,000 | 1,400,000 | ' | ' |
Notes, Loans and Financing Receivable, Gross, Noncurrent | ' | 14,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Equity Securities | ' | ' | ' | ' | ' | 0 | 1,764,657 | 0 | 1,410,388 | ' | ' | ' | ' | ' |
Non-Marketable Securities - Equity Method Investments | ' | ' | ' | 1,421,592 | 1,828,404 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-Marketable Securities - Cost Based Investments | 0 | ' | 3,485,394 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,433,102 | ' | ' | ' | ' |
Other | 169,764 | ' | 119,039 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Other Assets | 3,024,458 | ' | 8,607,882 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Equity Securities, Amortized Cost Basis | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | $700,000 | $0 | ' | $0 |
Other_Assets_and_Amounts_Due_t3
Other Assets and Amounts Due to / Due From Affiliates (Marketable Equity Securities) (Details) (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Gain on sales of investments | $1,899,291 | $856,170 | $368,641 |
Available-for-sale Securities, Fair Value Disclosure | 95,972,535 | 65,349,962 | ' |
Advanced Wireless Semiconductor Company | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Proceeds from Sale of Available-for-sale Securities | 1,200,000 | ' | ' |
WIN Semiconductor Corporation | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Proceeds from Sale of Available-for-sale Securities | 1,400,000 | ' | ' |
Gain on sales of investments | 900,000 | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | ' | 1,400,000 | ' |
Investment Sold, Not yet Purchased, Balance, Shares | 500,000 | ' | ' |
Available-for-sale Equity Securities, Amortized Cost Basis | ' | 0 | ' |
Investee | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Gain on sales of investments | ' | ' | 1,900,000 |
Investee | Advanced Wireless Semiconductor Company | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Revenue from Related Parties | 0 | 8,192,000 | 11,800,000 |
Available-for-sale Securities, Fair Value Disclosure | ' | 1,800,000 | ' |
Available-for-sale Equity Securities, Amortized Cost Basis | ' | 700,000 | ' |
Due from Related Parties | ' | 500,000 | ' |
Other Related Parties [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Due from Related Parties | ' | $100,000 | ' |
Other_Assets_and_Amounts_Due_t4
Other Assets and Amounts Due to / Due From Affiliates (Non-Marketable Securities - Equity Method Investments) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||||
Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 16, 2013 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Jul. 10, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Mar. 14, 2013 | Sep. 28, 2013 | Mar. 14, 2013 | Dec. 28, 2013 | Sep. 28, 2013 | Mar. 14, 2013 | Mar. 14, 2013 | Dec. 29, 2012 | |
Business Acquisition Two | Ikanos | Ikanos | Ikanos | Ikanos | Ask Ziggy | Ask Ziggy | Ask Ziggy | KoBrite | KoBrite | KoBrite | Ikanos | Ikanos | Ikanos | Minimum | Minimum | Subsequent event | Subsequent event | Subsequent event | Achievement of Certain Milestones | Deferred Compensation, Share-based Payments [Member] | Deferred Compensation, Share-based Payments [Member] | Deferred Compensation, Share-based Payments [Member] | Investee | |||||||||||||
director | Business Acquisition Two | Business Acquisition Two | Business Acquisition Two | Business Acquisition Two | Aurisound | Business Acquisition Two | Founder of Acquired Company [Member] | Founder of Acquired Company [Member] | Founder of Acquired Company [Member] | Ask Ziggy | ||||||||||||||||||||||||||
Subsequent event | Subsequent event | Subsequent event | ||||||||||||||||||||||||||||||||||
Achievement of Certain Milestones | Immediate Vesting | |||||||||||||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity losses in unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ($625,098) | ($679,587) | ($296,451) | ' | ' | ' | ' | ' | ' | ($218,287) | $0 | $0 | ($406,811) | ($573,265) | ($296,451) | $0 | ($106,322) | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | 12.00% | ' | ' | ' | ' | ' | 23.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Equity Securities, Amortized Cost Basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Carrying value of the investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,421,592 | 1,828,404 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of directors in common with affiliate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost Method Investment, Additional Equity Interest Acquired or to Be Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 5.80% | ' | 2.00% | ' | ' | ' | ' |
Payments to Acquire Other Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | 700,000 | ' | ' | ' | ' | ' | ' |
Purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to acquire additional interests in an affiliate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summarized Financial Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets | 119,608,002 | ' | ' | ' | 126,967,069 | ' | ' | ' | 119,608,002 | 126,967,069 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,769,000 | 9,581,000 | 12,468,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncurrent assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,663,000 | 12,701,000 | 15,927,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current liabilities | 11,239,102 | ' | ' | ' | 20,176,436 | ' | ' | ' | 11,239,102 | 20,176,436 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,207,000 | 1,215,000 | 5,397,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 5,550,000 | 4,950,000 | 6,079,000 | 6,319,000 | 8,574,000 | 8,190,000 | 7,012,000 | 10,866,000 | 22,897,709 | 34,641,860 | 64,658,603 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,085,000 | 6,010,000 | 7,938,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Margin loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,501,000 | -2,732,000 | -794,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss from operations | ' | ' | ' | ' | ' | ' | ' | ' | -35,927,691 | -20,570,894 | -7,549,903 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,114,000 | -4,938,000 | -2,685,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | -5,606,016 | -18,994,272 | 3,684,571 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,526,000 | -5,308,000 | -2,526,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due from Employees, Current | 140,000 | ' | ' | ' | ' | ' | ' | ' | 140,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consideration transferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,581,000 | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,800,000 | ' | ' | ' | ' | ' |
Cost Method Investment, Potential Payment to Acquire Additional Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Shares Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 300,000 | 100,000 | ' |
Other than Temporary Impairment Losses, Investments | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes, Loans and Financing Receivable, Gross, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business_Combinations_Details
Business Combinations (Details) (USD $) | 12 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Apr. 17, 2013 | Jul. 10, 2012 | Mar. 31, 2012 | Dec. 29, 2012 | Dec. 28, 2013 | Sep. 28, 2013 | Jul. 10, 2012 | Jul. 10, 2012 | Apr. 17, 2013 | Dec. 28, 2013 | Jul. 10, 2012 | Jul. 10, 2012 | Jul. 10, 2012 | Apr. 17, 2013 | Apr. 17, 2013 | |
Ikanos | Ikanos | Ikanos | Ikanos | Ikanos | Ikanos | Ikanos | eMDT | eMDT | As initially reported | As initially reported | As initially reported | Ownership Increases In Subsidiaries Affiliates | Noncontrolling Interest | |||||
Customer relationships | Trade name | Ikanos | Ikanos | Ikanos | Business Acquisition Two | Business Acquisition Two | ||||||||||||
Customer relationships | Trade name | |||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative percentage of voting interests acquired | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | 51.00% | ' | ' | ' | ' | ' | ' |
Additional equity interest, number of shares acquired | ' | ' | ' | ' | 70,748 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Kopin's ownership percentage | ' | ' | ' | ' | ' | ' | ' | 58.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' |
Payments to Acquire Investments | $3,583,611 | $2,249,784 | $1,980,609 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $200,000 |
Business Acquisition, Purchase Price Allocation, Goodwill Amount | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase Price Allocation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash consideration | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair market value of Kopin's previously held equity methohd investment in Ikanos | ' | ' | ' | ' | 81,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total purchase price | ' | ' | ' | ' | 2,581,000 | 700,000 | ' | ' | ' | ' | ' | 400,000 | 300,000 | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and marketable securities | ' | ' | ' | ' | 2,594,000 | ' | ' | ' | ' | ' | ' | ' | ' | 2,594,000 | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' | 167,000 | ' | ' | ' | ' | ' | ' | ' | ' | 167,000 | ' | ' | ' | ' |
Property, plant and equipment | ' | ' | ' | ' | 277,000 | ' | ' | ' | ' | ' | ' | ' | ' | 277,000 | ' | ' | ' | ' |
Other identifiable assets | ' | ' | ' | ' | 111,000 | ' | ' | ' | ' | ' | ' | ' | ' | 111,000 | ' | ' | ' | ' |
Intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 170,000 | ' | ' | ' | 0 | 0 | ' | ' |
Measurement period adjustments - intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 170,000 | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 1,016,132 | 684,789 | 1,664,457 | ' | 685,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,141,000 | ' | ' | ' | ' |
Measurement period adjustments - goodwill | ' | ' | ' | ' | -456,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable liabilities | ' | ' | ' | ' | -439,000 | ' | ' | ' | ' | ' | ' | ' | ' | -325,000 | ' | ' | ' | ' |
Measurement period adjustment, identifiable liabilities | ' | ' | ' | ' | -114,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest in Ikanos | ' | ' | ' | ' | -1,384,000 | ' | ' | ' | ' | ' | ' | ' | ' | -1,384,000 | ' | ' | ' | ' |
Total | ' | ' | ' | ' | 2,581,000 | ' | ' | ' | ' | ' | ' | ' | ' | 2,581,000 | ' | ' | ' | ' |
Remeasurement loss on the Company's previous investment in Ikanos | ' | ' | ' | ' | 558,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss included in consolidated operations | ' | ' | ' | ' | ' | ' | -1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | 23,103,000 | 36,142,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ($4,670,000) | ($18,805,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Intangibles_Detai
Goodwill and Intangibles (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||||||||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Jul. 10, 2012 | |
Customer relationships | Customer relationships | Developed technology | Developed technology | Trademark portfolio | Trademark portfolio | FDD | FDD | FDD | Ikanos | Ikanos | ||||
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of Intangible Assets (Excluding Goodwill) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,200,000 | ' | ' | $300,000 | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance | 684,789 | 1,664,457 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 685,000 |
Additions | 395,713 | 684,789 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposals | -64,370 | -1,704,770 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Translation adjustments | 0 | 40,313 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance | 1,016,132 | 684,789 | 1,664,457 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 685,000 |
Goodwill impairment charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | 3,000,000 | ' | ' |
Impairment of finite-lived intangible assets | ' | ' | ' | ' | 1,500,000 | ' | 400,000 | ' | 57,000 | ' | ' | ' | ' | ' |
Useful life of identifiable intangible assets | ' | ' | ' | '7 years | ' | '7 years | ' | '7 years | ' | ' | ' | ' | ' | ' |
Amortization of intangible assets due in next twelve months | $300,000 | $300,000 | $700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Intangibles_Sched
Goodwill and Intangibles (Schedule for Annual Amortization Expense related to Intangible Assets) (Details) (USD $) | Dec. 28, 2013 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
2014 | $711,324 |
2015 | 710,422 |
2016 | 94,266 |
2017 | 21,830 |
2018 | 21,830 |
2019 | 21,830 |
Total annual amortization expense | $1,581,502 |
Financial_Instruments_Fair_Val
Financial Instruments (Fair Value Measurements) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
Total | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | $114,162,303 | $95,660,394 |
Total | Money Markets and Cash Equivalents | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 16,756,666 | 27,135,387 |
Total | U.S. Government Securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 68,284,392 | 38,582,956 |
Total | Corporate Debt | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 12,984,331 | 11,095,227 |
Total | Certificates of Deposit | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 14,703,812 | 15,671,779 |
Total | Advanced Wireless Semiconductor Company | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | 1,764,657 |
Total | WIN Semiconductor Corporation | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | 1,410,388 |
Total | Vuzix | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 1,433,102 | ' |
Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 34,731,771 | 47,887,310 |
Level 1 | Money Markets and Cash Equivalents | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 16,756,666 | 27,135,387 |
Level 1 | U.S. Government Securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 16,542,003 | 17,576,878 |
Level 1 | Corporate Debt | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | ' |
Level 1 | Certificates of Deposit | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | ' |
Level 1 | Advanced Wireless Semiconductor Company | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | 1,764,657 |
Level 1 | WIN Semiconductor Corporation | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | 1,410,388 |
Level 1 | Vuzix | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 1,433,102 | ' |
Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 79,430,532 | 47,773,084 |
Level 2 | Money Markets and Cash Equivalents | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | ' |
Level 2 | U.S. Government Securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 51,742,389 | 21,006,078 |
Level 2 | Corporate Debt | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 12,984,331 | 11,095,227 |
Level 2 | Certificates of Deposit | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 14,703,812 | 15,671,779 |
Level 2 | Advanced Wireless Semiconductor Company | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | ' |
Level 2 | WIN Semiconductor Corporation | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | ' |
Level 2 | Vuzix | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 0 | ' |
Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 0 | 0 |
Level 3 | Money Markets and Cash Equivalents | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 0 | 0 |
Level 3 | U.S. Government Securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 0 | 0 |
Level 3 | Corporate Debt | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 0 | 0 |
Level 3 | Certificates of Deposit | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | 0 | 0 |
Level 3 | Advanced Wireless Semiconductor Company | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | 0 |
Level 3 | WIN Semiconductor Corporation | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | ' | 0 |
Level 3 | Vuzix | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value measurements of financial assets | $0 | ' |
Financial_Instruments_Marketab
Financial Instruments (Marketable Debt Securities) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 |
Debt securities | U.S. government and agency backed securities | U.S. government and agency backed securities | Corporate debt and certificates of deposit | Corporate debt and certificates of deposit | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Amortized Cost | $96,738,018 | $65,106,002 | ' | $68,970,505 | $38,074,136 | $27,767,513 | $27,031,866 |
Unrealized Gains | 0 | 508,820 | ' | 0 | 508,820 | 0 | 0 |
Unrealized Losses | -765,483 | -264,860 | ' | -686,113 | 0 | -79,370 | -264,860 |
Fair Value | 95,972,535 | 65,349,962 | ' | 68,284,392 | 38,582,956 | 27,688,143 | 26,767,006 |
Less than One year | 34,975,621 | ' | ' | 12,207,098 | ' | 22,768,523 | ' |
One to Five years | 48,180,508 | ' | ' | 44,260,888 | ' | 3,919,620 | ' |
Greater than Five years | 12,816,406 | ' | ' | 11,816,406 | ' | 1,000,000 | ' |
OTTI losses | ' | ' | $200,000 | ' | ' | ' | ' |
Stockholders_Equity_and_StockB2
Stockholders' Equity and Stock-Based Compensation (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||
Dec. 28, 2013 | Dec. 31, 2001 | Dec. 31, 2001 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | |
Supplemental Equity Plan 2001 | 2001 Equity Plan | 2001 Equity Plan | 2010 Equity Plan | 2010 Equity Plan | 2010 Equity Plan | Period 2 | ||
Stock options | Stock options | Unvested Restricted Stock Awards | ||||||
Minimum | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | ' | ' | ' | ' | ' | ' | ' | '2 years |
Authorized stock repurchase amount | $30,000,000 | ' | ' | ' | ' | ' | ' | ' |
Number of shares repurchased since inception | 2,171,400 | ' | ' | ' | ' | ' | ' | ' |
Value of shares repurchased since inception | $7,991,954 | ' | ' | ' | ' | ' | ' | ' |
Number of shares authorized | ' | ' | 7,100,000 | ' | ' | ' | ' | ' |
Life of award | ' | '10 years | '10 years | ' | ' | '10 years | ' | ' |
Number of shares that may be issued | ' | 0 | ' | 0 | 1,200,000 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 2,600,000 | ' | ' | ' | ' | ' | ' | ' |
Purchase price of common stock under equity plans as percent of fair value at the grant date | ' | ' | ' | ' | ' | 110.00% | 100.00% | ' |
Stockholders_Equity_and_StockB3
Stockholders' Equity and Stock-Based Compensation (Stock Options) (Details) (USD $) | 12 Months Ended | |||||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 26, 2009 | Jun. 30, 2010 | |
Shares | ' | ' | ' | ' | ' | ' |
Beginning Balance | 983,680 | ' | ' | ' | ' | ' |
Options forfeited/cancelled | -424,830 | ' | ' | ' | ' | ' |
Options exercised | 0 | ' | ' | ' | ' | ' |
Ending Balance | 558,850 | 983,680 | ' | ' | ' | ' |
Weighted Average Exercise Price | ' | ' | ' | ' | ' | ' |
Beginning Balance | $5.26 | ' | ' | ' | ' | ' |
Options forfeited/cancelled | $5.48 | ' | ' | ' | ' | ' |
Options exercised | $0 | ' | ' | ' | ' | ' |
Ending Balance | $5.09 | $5.26 | ' | ' | ' | ' |
Exercisable, end of year | 558,850 | ' | ' | ' | ' | ' |
Number of options issued in period | 0 | 0 | ' | 0 | ' | ' |
Intrinsic value of options exercised | $0 | $0 | ' | ' | $23,000 | ' |
Number of securities called by warrants | ' | ' | ' | ' | ' | 200,000 |
Exercise price of warrants | ' | ' | ' | ' | ' | 3.49 |
Cash received from option exercises | 0 | 0 | 0 | 72,445 | ' | ' |
Tax benefits realized | $0 | $0 | ' | $0 | ' | ' |
Stockholders_Equity_and_StockB4
Stockholders' Equity and Stock-Based Compensation (Stock Options - Outstanding and Exercisable) (Details) (USD $) | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Number Outstanding | 558,850 | 983,680 |
Weighted Average Remaining Contractual Life (Years) | '1 year 2 months 23 days | ' |
Weighted Average Exercise Price | $5.09 | $5.26 |
Number Exercisable | 558,850 | ' |
Weighted Average Exercise Price | $5.09 | ' |
Options Outstanding - Aggregate intrinsic value on December 29, 2012 | $182,643 | ' |
Options Exercisable - Aggregate intrinsic value on December 29, 2012 | $182,643 | ' |
$ 0.01b$ 3.50 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Prices, Lower Limit | $0.01 | ' |
Range of Exercise Prices, Upper Limit | $3.50 | ' |
Number Outstanding | 130,000 | ' |
Weighted Average Remaining Contractual Life (Years) | '2 years | ' |
Weighted Average Exercise Price | $3.49 | ' |
Number Exercisable | 130,000 | ' |
Weighted Average Exercise Price | $3.49 | ' |
$ 3.75b$ 4.82 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Prices, Lower Limit | $3.75 | ' |
Range of Exercise Prices, Upper Limit | $4.82 | ' |
Number Outstanding | 328,850 | ' |
Weighted Average Remaining Contractual Life (Years) | '1 year | ' |
Weighted Average Exercise Price | $4.23 | ' |
Number Exercisable | 328,850 | ' |
Weighted Average Exercise Price | $4.23 | ' |
$ 5.00b$ 8.03 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Prices, Lower Limit | $5 | ' |
Range of Exercise Prices, Upper Limit | $8.03 | ' |
Number Outstanding | 0 | ' |
Weighted Average Remaining Contractual Life (Years) | '2 years 2 months 23 days | ' |
Weighted Average Exercise Price | $5.40 | ' |
Number Exercisable | 0 | ' |
Weighted Average Exercise Price | $5.40 | ' |
$10.00b$10.00 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Prices, Lower Limit | $10 | ' |
Range of Exercise Prices, Upper Limit | $10 | ' |
Number Outstanding | 100,000 | ' |
Weighted Average Remaining Contractual Life (Years) | '1 year | ' |
Weighted Average Exercise Price | $10 | ' |
Number Exercisable | 100,000 | ' |
Weighted Average Exercise Price | $10 | ' |
Stockholders_Equity_and_StockB5
Stockholders' Equity and Stock-Based Compensation (Nonvested Restricted Common Stock) (Details) (USD $) | 12 Months Ended |
Dec. 28, 2013 | |
Shares | ' |
Granted | 150,000 |
Non-vested restricted common stock | ' |
Shares | ' |
Beginning Balance | 2,283,048 |
Granted | 2,135,000 |
Forfeited | -227,000 |
Vested | -1,216,900 |
Ending Balance | 2,974,148 |
Weighted Average Grant Fair Value | ' |
Beginning Balance | 4.76 |
Granted | 3.22 |
Forfeited | 3.87 |
Vested | 3.46 |
Ending Balance | 4.25 |
Non-vested restricted common stock | Period 1 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested common stock awards employment obligations | '1 year |
Non-vested restricted common stock | Period 2 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested common stock awards employment obligations | '2 years |
Non-vested restricted common stock | Period 3 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested common stock awards employment obligations | '4 years |
Stockholders_Equity_and_StockB6
Stockholders' Equity and Stock-Based Compensation (Stock-Based Compensation) (Details) (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation | $4,203,408 | $4,486,990 | $3,923,628 |
Cost of product revenues | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation | 414,842 | 513,789 | 613,274 |
Research and development | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation | 423,548 | 366,443 | 577,514 |
Selling, general and administrative | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation | 3,365,018 | 3,606,758 | 2,732,840 |
Restricted stock | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Unrecognized compensation expense for nonvested restricted common stock | $6,200,000 | ' | ' |
Concentrations_of_Risk_Details
Concentrations of Risk (Details) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Percent of Gross Accounts Receivable | Credit concentration risk | Company A | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | 22.00% | ' | ' |
Percent of Gross Accounts Receivable | Credit concentration risk | Company E | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | ' | 12.00% | ' |
Percent of Gross Accounts Receivable | Credit concentration risk | Company B | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | 12.00% | ' | ' |
Percent of Gross Accounts Receivable | Credit concentration risk | Company C | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | 12.00% | ' | ' |
Percent of Gross Accounts Receivable | Credit concentration risk | Company D | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | ' | 37.00% | ' |
Sales as a Percent of Total Revenue | Customer concentration risk | Company F [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | ' | ' | 10.00% |
Sales as a Percent of Total Revenue | Customer concentration risk | Company A | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | 18.00% | 12.00% | 15.00% |
Sales as a Percent of Total Revenue | Customer concentration risk | Military Customers in Total | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | 38.00% | 57.00% | 60.00% |
Sales as a Percent of Total Revenue | Customer concentration risk | Company E | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | ' | 21.00% | 18.00% |
Sales as a Percent of Total Revenue | Customer concentration risk | Company D | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | 13.00% | 22.00% | 23.00% |
Sales as a Percent of Total Revenue | United States Government Funded Research and Development Contracts | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentrations of risk, percentage | 7.00% | 10.00% | 8.00% |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 14, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Current: | ' | ' | ' | ' |
Federal | ' | ($13,124,000) | $0 | $52,000 |
State | ' | 12,000 | 64,000 | 88,000 |
Foreign | 1,500,000 | -34,000 | 0 | -137,000 |
Total current provision | ' | -13,146,000 | 64,000 | 3,000 |
Deferred: | ' | ' | ' | ' |
Federal | ' | -3,616,000 | -2,878,000 | 3,977,000 |
State | ' | 644,000 | -505,000 | -30,000 |
Foreign | ' | -565,000 | 73,000 | -898,000 |
Change in valuation allowance | ' | 3,750,000 | 4,345,000 | -3,052,000 |
Total deferred provision | ' | 213,000 | 1,035,000 | -3,000 |
Total (benefit) provision for income taxes | ' | -12,933,000 | 1,099,000 | 0 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Tax provision at federal statutory rates | ' | -13,322,000 | -7,002,000 | -2,006,000 |
State tax liability | ' | 8,000 | 42,000 | 57,000 |
Foreign deferred | ' | -644,000 | 734,000 | 611,000 |
Foreign withholding | ' | 308,000 | 1,170,000 | 0 |
Outside basis in KTC and Kowon, net | ' | -202,000 | 2,422,000 | 0 |
Goodwill | ' | 0 | 417,000 | 771,000 |
Non-deductible expenses | ' | 864,000 | 180,000 | 415,000 |
Increase in net state operating loss carryforwards | ' | -2,868,000 | 0 | 0 |
Provision to tax return adjustments and state tax rate change | ' | -33,000 | -462,000 | 888,000 |
Tax credits | ' | -390,000 | -100,000 | 1,188,000 |
Non-deductible equity compensation | ' | -418,000 | 136,000 | 1,542,000 |
Other, net | ' | 14,000 | -783,000 | -414,000 |
Change in valuation allowance | ' | 3,750,000 | 4,345,000 | -3,052,000 |
Total (benefit) provision for income taxes | ' | -12,933,000 | 1,099,000 | 0 |
Pretax foreign (losses) earnings | ' | -4,966,000 | -6,870,000 | -6,879,000 |
Deferred tax liability: | ' | ' | ' | ' |
Intangible asset | ' | -141,000 | -636,000 | ' |
Foreign withholding liability | ' | -1,478,000 | -1,170,000 | ' |
Foreign unremitted earnings | ' | -3,276,000 | -3,478,000 | ' |
Deferred Tax assets: | ' | ' | ' | ' |
Federal net operating loss carryforwards | ' | 15,322,000 | 9,493,000 | ' |
State net operating loss carryforwards | ' | 624,000 | 580,000 | ' |
Foreign net operating loss carryforwards | ' | 3,202,000 | 3,028,000 | ' |
Equity awards | ' | 1,666,000 | 1,111,000 | ' |
Tax credits | ' | 5,657,000 | 5,267,000 | ' |
Equipment | ' | 838,000 | 4,131,000 | ' |
Investments | ' | 4,594,000 | 4,760,000 | ' |
Other | ' | 3,365,000 | 3,582,000 | ' |
Net deferred tax assets | ' | 30,373,000 | 26,668,000 | ' |
Valuation allowance | ' | -31,886,000 | -27,973,000 | ' |
Net deferred tax assets after deducting valuation allowance | ' | -1,513,000 | -1,305,000 | ' |
Operating Loss Carryforwards, Expiration Dates | ' | 'expiring through 2032 | ' | ' |
Increase (decrease) in valuation allowance | ' | 0 | 0 | 4,266,000 |
Utiilzation of operating loss carryforwards | ' | 0 | 0 | 2,698,000 |
Unrecorded benefits from stock award | ' | 10,100,000 | ' | ' |
Deferred Tax Liabilities, Parent's Basis in Discontinued Operation | ' | 3,300,000 | ' | ' |
Income Tax Expense (Benefit) | ' | 12,933,209 | -1,099,000 | 0 |
Maximum | ' | ' | ' | ' |
Deferred Tax assets: | ' | ' | ' | ' |
The state impact of any federal changes, subject to examination by various states (in years) | ' | '1 year | ' | ' |
Segments excluding KTC | ' | ' | ' | ' |
Deferred Tax assets: | ' | ' | ' | ' |
Increase (decrease) in valuation allowance | ' | 3,700,000 | ' | ' |
Utiilzation of operating loss carryforwards | ' | 8,600,000 | 6,000,000 | ' |
Property, Plant and Equipment, Disposals | ' | 2,000,000 | ' | ' |
International jurisdictions | Minimum | ' | ' | ' | ' |
Deferred Tax assets: | ' | ' | ' | ' |
Income tax returns examination period | ' | '3 years | ' | ' |
International jurisdictions | Maximum | ' | ' | ' | ' |
Deferred Tax assets: | ' | ' | ' | ' |
Income tax returns examination period | ' | '7 years | ' | ' |
Federal | ' | ' | ' | ' |
Deferred Tax assets: | ' | ' | ' | ' |
Net operating loss carryforwards available for tax purposes | ' | $43,700,000 | ' | ' |
State | Minimum | ' | ' | ' | ' |
Deferred Tax assets: | ' | ' | ' | ' |
Income tax returns examination period | ' | '3 years | ' | ' |
State | Maximum | ' | ' | ' | ' |
Deferred Tax assets: | ' | ' | ' | ' |
Income tax returns examination period | ' | '5 years | ' | ' |
Accrued_Warranty_Details
Accrued Warranty (Details) (USD $) | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Product Warranties Disclosures [Abstract] | ' | ' |
Product warranty term | '12 months | ' |
Movement in Standard Product Warranty Accrual [Roll Forward] | ' | ' |
Beginning Balance | $716,000 | $1,318,000 |
Additions | 798,000 | 1,777,000 |
Claims and reversals | -798,000 | -2,229,000 |
Reclassified to current liabilities held for sale | 0 | -150,000 |
Ending Balance | $716,000 | $716,000 |
Employee_Benefit_Plan_Details
Employee Benefit Plan (Details) (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Schedule of Benefit Plans Disclosure [Line Items] | ' | ' | ' |
Employee age threshhold for higher annual contribution | '50 years | ' | ' |
Employer matching percentage | 50.00% | ' | ' |
Maximum amount of employee contribution that employer matches | 3.00% | ' | ' |
Amount charged to operations in connection with the plan | $146,000 | $210,000 | $229,000 |
Under the age of 50 | ' | ' | ' |
Schedule of Benefit Plans Disclosure [Line Items] | ' | ' | ' |
Maximum amount of annual compensation that can be deferred | 17,000 | ' | ' |
Over the age fo 50 | ' | ' | ' |
Schedule of Benefit Plans Disclosure [Line Items] | ' | ' | ' |
Maximum amount of annual compensation that can be deferred | $22,500 | ' | ' |
Commintments_and_Contingencies2
Commintments and Contingencies (Details) (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' | ' |
2013 | $1,266,000 | ' | ' |
2014 | 1,177,000 | ' | ' |
2015 | 836,000 | ' | ' |
2016 | 665,000 | ' | ' |
2017 | 641,000 | ' | ' |
Thereafter | 2,768,000 | ' | ' |
Total minimum lease payments | 7,353,000 | ' | ' |
Rent expense | 1,300,000 | 800,000 | 1,100,000 |
Royalty expense | 20,000 | 18,000 | 18,000 |
Proceeds from Grantors | $3,000,000 | ' | ' |
Segments_and_Geographical_Info2
Segments and Geographical Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | $5,550,000 | $4,950,000 | $6,079,000 | $6,319,000 | $8,574,000 | $8,190,000 | $7,012,000 | $10,866,000 | $22,897,709 | $34,641,860 | $64,658,603 | |
Net income (loss) income attributable to the controlling interest | -9,660,000 | -8,771,000 | -7,910,000 | 21,634,000 | -3,861,000 | [1] | -6,724,000 | -5,199,000 | -2,578,000 | -4,709,616 | -18,361,930 | 3,079,364 |
Total assets from continuing operations | 146,131,723 | ' | ' | ' | 176,208,802 | ' | ' | ' | 146,131,723 | 176,208,802 | ' | |
Long lived assets | 6,035,000 | ' | ' | ' | 8,486,000 | ' | ' | ' | 6,035,000 | 8,486,000 | ' | |
Continuing Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net income (loss) income attributable to the controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -4,710,000 | -21,150,000 | -6,634,000 | |
Total assets from continuing operations | 146,132,000 | ' | ' | ' | 138,577,000 | ' | ' | ' | 146,132,000 | 138,577,000 | 193,872,000 | |
Long lived assets | 6,035,000 | ' | ' | ' | 8,486,000 | ' | ' | ' | 6,035,000 | 8,486,000 | 32,369,000 | |
Kopin U.S. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 19,883,000 | 31,879,000 | 59,785,000 | |
Kopin U.S. | Continuing Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net income (loss) income attributable to the controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -2,003,000 | -17,067,000 | 244,000 | |
Total assets from continuing operations | 143,953,000 | ' | ' | ' | 134,375,000 | ' | ' | ' | 143,953,000 | 134,375,000 | 187,215,000 | |
Long lived assets | 5,488,000 | ' | ' | ' | 7,728,000 | ' | ' | ' | 5,488,000 | 7,728,000 | 31,331,000 | |
FDD | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,014,000 | 2,763,000 | 4,874,000 | |
FDD | Continuing Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net income (loss) income attributable to the controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -2,707,000 | -4,083,000 | -6,878,000 | |
Total assets from continuing operations | 2,179,000 | ' | ' | ' | 4,202,000 | ' | ' | ' | 2,179,000 | 4,202,000 | 6,657,000 | |
Long lived assets | $547,000 | ' | ' | ' | $758,000 | ' | ' | ' | $547,000 | $758,000 | $1,038,000 | |
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmQwZGNmMmUxMDBiNTQ1ZmVhOTgzM2VhODI4N2YzMWJhfFRleHRTZWxlY3Rpb246OTBERTk3NzRGNEI3QjdFREEzOEQ3NkIzOTE5OEVDQjgM} |
Segments_and_Geographical_Info3
Segments and Geographical Information (Percentage of Net Revenues by Geographies) (Details) (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenue | $22,898,000 | $34,642,000 | $64,659,000 |
Percent of Total | 100.00% | 100.00% | 100.00% |
Long lived assets | 6,035,000 | 8,486,000 | ' |
US | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenue | 11,927,000 | 25,356,000 | 48,707,000 |
Percent of Total | 53.00% | 73.00% | 75.00% |
Others | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenue | 230,000 | 93,000 | 632,000 |
Percent of Total | 1.00% | 0.00% | 1.00% |
Americas | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenue | 12,157,000 | 25,449,000 | 49,339,000 |
Percent of Total | 54.00% | 73.00% | 76.00% |
Asia-Pacific | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenue | 8,292,000 | 7,132,000 | 12,300,000 |
Percent of Total | 36.00% | 21.00% | 19.00% |
Europe | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenue | 2,449,000 | 2,061,000 | 3,020,000 |
Percent of Total | 10.00% | 6.00% | 5.00% |
United States of America | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Long lived assets | 3,050,000 | 4,840,000 | ' |
United Kingdom | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Long lived assets | 795,000 | 1,072,000 | ' |
Republic of Korea | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Long lived assets | $2,190,000 | $2,574,000 | ' |
Selected_Quarterly_Financial_I2
Selected Quarterly Financial Information (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |||||||||
Effect of Fourth Quarter Events [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenue | $5,550,000 | $4,950,000 | $6,079,000 | $6,319,000 | $8,574,000 | $8,190,000 | $7,012,000 | $10,866,000 | $22,897,709 | $34,641,860 | $64,658,603 | ||||||||
Gross profit | 645,000 | [1] | 267,000 | [1] | -595,000 | [1] | -396,000 | [1] | 2,425,000 | [1],[2] | 2,451,000 | [1] | 1,127,000 | [1] | 3,253,000 | [1] | ' | ' | ' |
(Loss) income from continuing operations | -9,844,000 | -9,015,000 | -8,062,000 | 1,168,000 | -5,766,000 | -6,849,000 | -6,456,000 | -2,712,000 | -25,753,548 | -21,783,320 | -6,028,488 | ||||||||
Net income (loss) attributable to the controlling interest | -9,660,000 | -8,771,000 | -7,910,000 | 21,634,000 | -3,861,000 | [2] | -6,724,000 | -5,199,000 | -2,578,000 | -4,709,616 | -18,361,930 | 3,079,364 | |||||||
Net (loss) income per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic (in dollars per share) | ($0.16) | [3] | ($0.14) | [3] | ($0.13) | [3] | $0.34 | [3] | ($0.06) | [3] | ($0.11) | [3] | ($0.08) | [3] | ($0.04) | [3] | ($0.08) | ($0.29) | $0.05 |
Diluted (in dollars per share) | ($0.16) | [3] | ($0.14) | [3] | ($0.13) | [3] | $0.34 | [3] | ($0.06) | [3] | ($0.11) | [3] | ($0.08) | [3] | ($0.04) | [3] | ($0.08) | ($0.29) | $0.05 |
Shares used in computing net income per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic (in shares) | 61,529,000 | 63,542,000 | 62,492,000 | 63,936,000 | 63,836,000 | 63,415,000 | 63,078,000 | 64,225,000 | 62,347,852 | 63,617,680 | 64,405,776 | ||||||||
Diluted (in shares) | 61,529,000 | 63,542,000 | 62,492,000 | 63,936,000 | 63,836,000 | 63,415,000 | 63,078,000 | 64,225,000 | 62,347,852 | 63,617,680 | 65,234,212 | ||||||||
Scenario, Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Effect of Fourth Quarter Events [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other Asset Impairment Charges | $4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
[1] | Gross profit is defined as net product revenue less cost of product revenues. | ||||||||||||||||||
[2] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmQwZGNmMmUxMDBiNTQ1ZmVhOTgzM2VhODI4N2YzMWJhfFRleHRTZWxlY3Rpb246OTBERTk3NzRGNEI3QjdFREEzOEQ3NkIzOTE5OEVDQjgM} | ||||||||||||||||||
[3] | Net loss per share is computed independently for each of the quarters presented; accordingly, the sum of the quarterly net income per share may not equal the total computed for the year. |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Details) (Reserve deducted from assets - allowance for doubtful accounts, USD $) | 12 Months Ended | |||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 26, 2009 | |
Reserve deducted from assets - allowance for doubtful accounts | ' | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | $311,000 | $513,000 | ' | $737,000 |
Additions Charged to Income | 19,000 | 139,000 | 182,000 | ' |
Deductions from Reserve | -128,000 | -341,000 | -406,000 | ' |
Balance at End of Year | $202,000 | $311,000 | $513,000 | $737,000 |