Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jan. 02, 2021 | Feb. 19, 2021 | Jun. 27, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000855658 | ||
Entity Registrant Name | Lattice Semiconductor Corp | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --01-02 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 2, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 000-18032 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 93-0835214 | ||
Entity Address, Address Line One | 5555 NE Moore Court | ||
Entity Address, City or Town | Hillsboro | ||
Entity Address, State or Province | OR | ||
Entity Address, Postal Zip Code | 97124-6421 | ||
City Area Code | 503 | ||
Local Phone Number | 268-8000 | ||
Title of 12(b) Security | Common Stock, $.01 par value | ||
Trading Symbol | LSCC | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 3,252,740,803 | ||
Entity Common Stock, Shares Outstanding | 136,532,920 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Revenue | $ 408,120 | $ 404,093 | $ 398,799 |
Cost of revenue | 162,814 | 165,671 | 179,360 |
Gross margin | 245,306 | 238,422 | 219,439 |
Operating expenses: | |||
Research and development | 89,223 | 78,617 | 82,449 |
Selling, general, and administrative | 95,331 | 82,542 | 91,054 |
Amortization of acquired intangible assets | 4,449 | 13,558 | 17,690 |
Restructuring charges | 3,937 | 4,664 | 17,349 |
Impairment of acquired intangible assets | 0 | 0 | 12,486 |
Acquisition related charges | 0 | 0 | 1,531 |
Total operating expenses | 192,940 | 179,381 | 222,559 |
Income (loss) from operations | 52,366 | 59,041 | (3,120) |
Interest expense | (3,702) | (11,731) | (20,600) |
Other expense, net | (208) | (2,245) | (249) |
Income (loss) before income taxes | 48,456 | 45,065 | (23,969) |
Income tax expense | 1,064 | 1,572 | 2,353 |
Net income (loss) | $ 47,392 | $ 43,493 | $ (26,322) |
Net income (loss) per share: | |||
Net income per share - basic (in dollars per share) | $ 0.35 | $ 0.33 | $ (0.21) |
Net income per share - diluted (in dollars per share) | $ 0.34 | $ 0.32 | $ (0.21) |
Shares used in per share calculations: | |||
Basic (in shares) | 135,220 | 132,471 | 126,564 |
Diluted (in shares) | 141,276 | 137,274 | 126,564 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Net income (loss) | $ 47,392 | $ 43,493 | $ (26,322) |
Other comprehensive income (loss): | |||
Translation adjustment, net of tax | 1,533 | 341 | (1,271) |
Change in actuarial valuation of defined benefit pension | (678) | (602) | 369 |
Unrealized gain related to marketable securities, net of tax | 0 | 42 | 41 |
Reclassification adjustment for gains related to marketable securities included in Other expense, net of tax | 0 | (53) | (18) |
Comprehensive income (loss) | $ 48,247 | $ 43,221 | $ (27,201) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 02, 2021 | Dec. 28, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 182,332 | $ 118,081 |
Accounts receivable, net of allowance for credit losses | 64,581 | 64,917 |
Inventories, net | 64,599 | 54,980 |
Prepaid expenses and other current assets | 22,331 | 24,452 |
Total current assets | 333,843 | 262,430 |
Property and equipment, net | 39,666 | 39,230 |
Operating lease right-of-use assets | 22,178 | 23,591 |
Intangible assets, net | 6,321 | 6,977 |
Goodwill | 267,514 | 267,514 |
Deferred income taxes | 577 | 478 |
Other long-term assets | 9,968 | 11,796 |
Total assets | 680,067 | 612,016 |
Current liabilities: | ||
Accounts payable | 27,530 | 44,350 |
Accrued expenses | 21,411 | 20,591 |
Accrued payroll obligations | 18,028 | 13,404 |
Current portion of long-term debt | 12,762 | 21,474 |
Total current liabilities | 79,731 | 99,819 |
Long-term debt, net of current portion | 157,934 | 125,072 |
Long-term operating lease liabilities, net of current portion | 18,906 | 21,438 |
Other long-term liabilities | 39,069 | 38,028 |
Total liabilities | 295,640 | 284,357 |
Contingencies (Note 14) | ||
Stockholders' equity: | ||
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock, $.01 par value, 300,000,000 shares authorized; 136,236,000 shares issued and outstanding as of January 2, 2021 and 133,883,000 shares issued and outstanding as of December 28, 2019 | 1,362 | 1,339 |
Additional paid-in capital | 770,711 | 762,213 |
Accumulated deficit | (385,898) | (433,290) |
Accumulated other comprehensive loss | (1,748) | (2,603) |
Total stockholders' equity | 384,427 | 327,659 |
Total liabilities and stockholders' equity | $ 680,067 | $ 612,016 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Jan. 02, 2021 | Dec. 28, 2019 |
Preferred stock, par value per share (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value per share (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 136,236,000 | 133,883,000 |
Common stock, shares outstanding (in shares) | 136,236,000 | 133,883,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Cash flows from operating activities: | |||
Net income (loss) | $ 47,392 | $ 43,493 | $ (26,322) |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 25,140 | 33,056 | 39,261 |
Stock-based compensation expense | 40,372 | 18,899 | 13,646 |
Amortization of right-of-use assets | 5,960 | 5,797 | 0 |
Amortization of debt issuance costs and discount | 400 | 1,659 | 2,230 |
Loss on refinancing of long-term debt | 0 | 2,235 | 0 |
Impairment of operating lease right-of-use asset | 0 | 977 | 0 |
Impairment of acquired intangible assets | 0 | 0 | 12,486 |
Other non-cash adjustments | (256) | (374) | (79) |
Changes in assets and liabilities: | |||
Accounts receivable, net | 336 | (4,027) | (3,978) |
Inventories, net | (9,619) | 12,116 | 13,177 |
Prepaid expenses and other assets | (6,441) | 3,740 | (11,667) |
Accounts payable | (16,820) | 12,470 | (3,470) |
Accrued expenses | 5,715 | (3,209) | 16,795 |
Accrued payroll obligations | 4,624 | 4,039 | (1,051) |
Operating lease liabilities, current and long-term portions | (5,715) | (6,896) | 0 |
Income taxes payable | 599 | 162 | 498 |
Deferred licensing and services revenue | 0 | 0 | (68) |
Net cash provided by operating activities | 91,687 | 124,137 | 51,458 |
Cash flows from investing activities: | |||
Capital expenditures | (12,121) | (15,590) | (8,384) |
Cash paid for software licenses | (8,747) | (9,601) | (8,123) |
Proceeds from sales of and maturities of short-term marketable securities | 0 | 9,655 | 5,000 |
Purchases of marketable securities | 0 | 0 | (9,603) |
Net cash used in investing activities | (20,868) | (15,536) | (21,110) |
Cash flows from financing activities: | |||
Restricted stock unit tax withholdings | (26,965) | (10,084) | (2,370) |
Proceeds from issuance of common stock | 10,103 | 17,166 | 29,288 |
Purchases of treasury stock | (14,989) | 0 | 0 |
Proceeds from long-term debt | 50,000 | 206,500 | 0 |
Original issue discount and debt issuance costs | 0 | (2,086) | 0 |
Repayment of long-term debt | (26,250) | (321,408) | (43,759) |
Net cash used in financing activities | (8,101) | (109,912) | (16,841) |
Effect of exchange rate change on cash | 1,533 | 341 | (1,271) |
Net increase (decrease) in cash and cash equivalents | 64,251 | (970) | 12,236 |
Beginning cash and cash equivalents | 118,081 | 119,051 | 106,815 |
Ending cash and cash equivalents | 182,332 | 118,081 | 119,051 |
Supplemental disclosure of cash flow information and non-cash investing and financing activities: | |||
Interest paid | 3,700 | 10,995 | 18,607 |
Operating lease payments | 7,713 | 8,425 | 0 |
Income taxes paid, net of refunds | 1,868 | 3,393 | 3,054 |
Accrued purchases of plant and equipment | 975 | 826 | 110 |
Operating lease right-of-use assets obtained in exchange for lease obligations | $ 2,645 | $ 747 | $ 0 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 30, 2017 | 123,895,000 | |||||
Balances at Dec. 30, 2017 | $ 1,239 | $ 695,768 | $ 0 | $ (450,461) | $ (1,452) | $ 245,094 |
Net income (loss) | 0 | 0 | 0 | (26,322) | 0 | (26,322) |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (879) | (879) |
Comprehensive income (loss) | (27,201) | |||||
Common stock issued in connection with employee equity incentive plans, net of shares withheld for employee taxes (in shares) | 5,833,000 | |||||
Common stock issued in connection with employee equity incentive plans, net of shares withheld for employee taxes | $ 58 | 26,860 | 0 | 0 | 0 | 26,918 |
Stock-based compensation expense | $ 0 | 13,646 | 0 | 0 | 0 | 13,646 |
Balances (in shares) at Dec. 29, 2018 | 129,728,000 | |||||
Balances at Dec. 29, 2018 | $ 1,297 | 736,274 | 0 | (476,783) | (2,331) | 258,457 |
Net income (loss) | 0 | 0 | 0 | 43,493 | 0 | 43,493 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (272) | (272) |
Comprehensive income (loss) | 43,221 | |||||
Common stock issued in connection with employee equity incentive plans, net of shares withheld for employee taxes (in shares) | 4,155,000 | |||||
Common stock issued in connection with employee equity incentive plans, net of shares withheld for employee taxes | $ 42 | 7,040 | 0 | 0 | 0 | 7,082 |
Stock-based compensation expense | $ 0 | 18,899 | 0 | 0 | 0 | $ 18,899 |
Balances (in shares) at Dec. 28, 2019 | 133,883,000 | 133,883,000 | ||||
Balances at Dec. 28, 2019 | $ 1,339 | 762,213 | 0 | (433,290) | (2,603) | $ 327,659 |
Net income (loss) | 0 | 0 | 0 | 47,392 | 0 | 47,392 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 855 | 855 |
Comprehensive income (loss) | 48,247 | |||||
Common stock issued in connection with employee equity incentive plans, net of shares withheld for employee taxes (in shares) | 2,738,000 | |||||
Common stock issued in connection with employee equity incentive plans, net of shares withheld for employee taxes | $ 27 | (16,889) | 0 | 0 | 0 | (16,862) |
Stock-based compensation expense | 0 | 40,372 | 0 | 0 | 0 | 40,372 |
Stock repurchase | 0 | 0 | (14,989) | 0 | 0 | (14,989) |
Retirement of treasury stock | (385) | |||||
Retirement of treasury stock | $ (4) | (14,985) | 14,989 | 0 | 0 | $ 0 |
Balances (in shares) at Jan. 02, 2021 | 136,236,000 | 136,236,000 | ||||
Balances at Jan. 02, 2021 | $ 1,362 | $ 770,711 | $ 0 | $ (385,898) | $ (1,748) | $ 384,427 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Significant Accounting Policies | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | 1 Basis of Presentation and Use of Estimates The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP"). They include the accounts of Lattice and its subsidiaries after the elimination of all intercompany balances and transactions. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments affecting the amounts reported in our consolidated condensed financial statements and the accompanying notes. The actual results that we experience may Certain prior year balances have been reclassified to conform to the current year’s presentation. Fiscal Reporting Periods We report based on a 52 53 December 31. 2020 53 January 2, 2021. 2019 2018 52 December 28, 2019 December 29, 2018 Concentrations of Risk Potential exposure to concentrations of risk may Distributors have historically accounted for a significant portion of our total revenue. Our two 10% Year Ended January 2, 2021 December 28, 2019 December 29, 2018 Weikeng Group 35 % 30 % 25 % Arrow Electronics Inc. 25 25 29 Other distributors 23 27 29 Revenue attributable to distributors 83 % 82 % 83 % At January 2, 2021 December 28, 2019 Concentration of credit risk with respect to accounts receivable is mitigated by our credit and collection process including active management of collections, credit limits, routine credit evaluations for essentially all customers, and secure transactions with letters of credit or advance payments where appropriate. We regularly review our allowance for doubtful accounts and the aging of our accounts receivable. We rely on a limited number of foundries for our wafer purchases. We seek to mitigate the concentration of supply risk by establishing, maintaining and managing multiple foundry relationships; however, certain of our products are sourced from a single foundry and changing from one Cash and Cash Equivalents We consider all investments that are readily convertible into cash and that have original maturities of three Foreign Exchange and Translation of Foreign Currencies While our revenues and the majority of our expenses are denominated in U.S. dollars, we also have international subsidiaries and branch operations that conduct some transactions in currencies that differ from the functional currency of that entity. Gains or losses from foreign exchange rate fluctuations on balances denominated in currencies that differ from the functional currencies are reflected in Other expense, net. We translate accounts denominated in foreign currencies in accordance with ASC 830, Foreign Currency Matters Revenue Recognition Under the terms of ASC 606, "Revenue from Contracts with Customers" Our Licensing and services revenue is comprised of revenue from our intellectual property ("IP") core licensing activity, patent monetization activities, design services, and royalty and adopter fee revenue from our standards activities. These activities are complementary to our product sales and help us to monetize our IP associated with our technology and standards. We consider licensing arrangements with our customers and agreements with the standards consortia of which we are a member to be the contract. For each contract, we consider the promise to deliver a license that grants the customer the right to use the IP, as well as any professional services provided under the contract, as distinct performance obligations. We recognize license revenue at the point in time that control of the license transfers to the customer, which is generally upon delivery, or as usage occurs. We measure revenue based on the amount of consideration we expect to be entitled to in exchange for products or services. Variable consideration is estimated and reflected as an adjustment to the transaction price. We determine variable consideration, which consists primarily of various sales price concessions, by estimating the most likely amount of consideration we expect to receive from the customer based on an analysis of historical rebate claims over a period of time considered adequate to account for current pricing and business trends. Sales rebates earned by customers are offset against their receivable balances. Rebates earned by customers when they do not We generally provide an assurance warranty that our products will substantially conform to the published specifications for twelve may twelve not 340, one twelve Inventories and Cost of Revenue Inventories are stated at the lower of actual cost (determined using the first first Property and Equipment Property and equipment are stated at cost. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets, generally three five one three three Impairment of Long-Lived Assets Long-lived assets, which consist primarily of property and equipment, amortizable intangible assets, and right-of-use assets, are carried on our financial statements based on their cost less accumulated depreciation or amortization. We monitor the carrying value of our long-lived assets for potential impairment and test the recoverability of such assets whenever events or changes in circumstances indicate that their carrying amounts may not third may no Note 9 Valuation of Goodwill Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not not fourth may not not not no No 2020 2019, no second 2018 June 30, 2018. not 2018. Leases We account for leases under the terms of ASC 842, Leases 12 not not not 842, 2019 01, Leases (Topic 842 842. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized on the commencement date of the lease based on the present value of lease payments over the lease term. As most of our leases do not The exercise of lease renewal options is at our sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term and lease payment obligation, respectively. For our leases that contain variable lease payments, residual value guarantees, or restrictive covenants, we have concluded that these inputs are not Research and Development Research and development expenses include costs for compensation and benefits, engineering wafers, depreciation, licenses, and outside engineering services. These expenditures are for the design of new products, intellectual property cores, processes, packaging, and software solutions. Research and development costs are generally expensed as incurred, with certain licensed technology agreements capitalized as intangible assets and amortized to Research and development expense over their estimated useful lives. Restructuring Charges Expenses associated with exit or disposal activities are recognized when incurred under ASC 420, Exit or Disposal Cost Obligations 712, Compensation - Nonretirement Postemployment Benefits. 360, Property, Plant, and Equipment Accounting for Income Taxes Our provision for income tax is comprised of our current tax liability and changes in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements using enacted tax rates and laws that will be in effect when the difference is expected to reverse. Valuation allowances are provided to reduce deferred tax assets to an amount that in management’s judgment is more-likely-than- not In assessing the ability to realize deferred tax assets, we evaluate both positive and negative evidence that may not Our income tax calculations are based on application of the respective U.S. federal, state or foreign tax law . not not 50% Stock-Based Compensation We estimate the fair value of share-based awards consistent with the provisions of ASC 718, Compensation - Stock Compensation three 2018 2019 2000 2020. four four Segment Information As of January 2, 2021 one New Accounting Pronouncements In December 2019, 2019 12, Income Taxes (Topic 740 December 15, 2020. may not 2019 12 |
Note 2 - Net Income (Loss) Per
Note 2 - Net Income (Loss) Per Share | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 2 Our calculation of the diluted share count includes the number of shares from our equity awards with market conditions or performance conditions that would be issuable under the terms of such awards at the end of the reporting period. For equity awards with a market condition, the maximum number of shares issuable are included in the diluted share count as of January 2, 2021 no January 2, 2021 two four not Note 10 A summary of basic and diluted Net income (loss) per share is presented in the following table: Year Ended January 2, December 28, December 29, (in thousands, except per share data) 2021 2019 2018 Net income (loss) $ 47,392 $ 43,493 $ (26,322 ) Shares used in basic Net income (loss) per share 135,220 132,471 126,564 Dilutive effect of stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition 6,056 4,803 — Shares used in diluted Net income (loss) per share 141,276 137,274 126,564 Basic Net income (loss) per share $ 0.35 $ 0.33 $ (0.21 ) Diluted Net income (loss) per share $ 0.34 $ 0.32 $ (0.21 ) The computation of diluted Net income (loss) per share excludes the effects of stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition that are antidilutive, aggregating approximately the following number of shares: Year Ended January 2, December 28, December 29, (in thousands) 2021 2019 2018 Stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition excluded as they are antidilutive 316 890 7,567 |
Note 3 - Revenue From Contracts
Note 3 - Revenue From Contracts With Customers | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 3 Disaggregation of Revenue The following tables provide information about revenue from contracts with customers disaggregated by major class of revenue, revenue by channel, and by geographical market, based on ship-to location of the customer: Major Class of Revenue Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Product $ 388,502 95 % $ 382,548 95 % $ 380,468 95 % Licensing and services 19,618 5 % 21,545 5 % 18,331 5 % Total revenue $ 408,120 100 % $ 404,093 100 % $ 398,799 100 % Revenue by Channel Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Product revenue - Distributors $ 339,100 83 % $ 331,941 82 % $ 330,719 83 % Product revenue - Direct 49,402 12 % 50,607 13 % 49,749 12 % Licensing and services revenue 19,618 5 % 21,545 5 % 18,331 5 % Total revenue $ 408,120 100 % $ 404,093 100 % $ 398,799 100 % Revenue by Geographical Market Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 United States $ 43,945 11 % $ 44,330 11 % $ 38,585 10 % Other Americas 18,192 4 % 13,606 3 % 16,549 4 % Americas 62,137 15 % 57,936 14 % 55,134 14 % China 213,714 52 % 206,107 51 % 202,983 51 % Taiwan 30,972 8 % 19,746 5 % 16,124 4 % Japan 25,435 6 % 42,658 11 % 44,033 11 % Other Asia 35,062 9 % 30,254 7 % 34,979 9 % Asia 305,183 75 % 298,765 74 % 298,119 75 % Europe 40,800 10 % 47,392 12 % 45,546 11 % Total revenue $ 408,120 100 % $ 404,093 100 % $ 398,799 100 % Contract balances Our contract assets relate to our rights to consideration for licenses and royalties due to us as a member of the HDMI consortium, with collection dependent on events other than the passage of time, such as collection of licenses and royalties from customers by the HDMI licensing agent. The balance results primarily from the amount of estimated revenue related to HDMI that we have recognized to date, but which has not The following table summarizes activity during the periods presented: (In thousands) Contract assets as of December 29, 2018 $ 9,143 Revenues recorded during the period 17,356 Transferred to Accounts receivable or collected (20,930 ) Contract assets as of December 28, 2019 $ 5,569 Revenues recorded during the period 15,860 Transferred to Accounts receivable or collected (15,818 ) Contract assets as of January 2, 2021 $ 5,611 Contract liabilities are included in Accrued expenses on our Consolidated Balance Sheets. The following table summarizes activity during the periods presented: (In thousands) Contract liabilities as of December 29, 2018 $ 1,614 Accruals for estimated future stock rotation and scrap returns 5,763 Less: Release of accruals for recognized stock rotation and scrap returns (5,064 ) Contract liabilities as of December 28, 2019 $ 2,313 Accruals for estimated future stock rotation and scrap returns 5,976 Less: Release of accruals for recognized stock rotation and scrap returns (5,221 ) Contract liabilities as of January 2, 2021 $ 3,068 The impact to revenue in fiscal years 2020 2019 |
Note 4 - Balance Sheet Componen
Note 4 - Balance Sheet Components | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | Note 4 Accounts Receivable Accounts receivable do not January 2, December 28, (In thousands) 2021 2019 Accounts receivable $ 64,635 $ 65,023 Less: Allowance for credit losses (54 ) (106 ) Accounts receivable, net of allowance for credit losses $ 64,581 $ 64,917 We had no 2020, 2019, 2018. Inventories January 2, December 28, (In thousands) 2021 2019 Work in progress $ 34,724 $ 39,855 Finished goods 29,875 15,125 Total inventories, net $ 64,599 $ 54,980 Accrued Expenses Included in Accrued expenses in the Consolidated Balance Sheets are the following balances: January 2, December 28, (In thousands) 2021 2019 Liability for non-cancelable contracts $ 8,492 $ 6,964 Current portion of operating lease liabilities 4,149 4,686 Other accrued expenses 8,770 8,941 Total accrued expenses $ 21,411 $ 20,591 Cloud Based Computing Implementation Costs Under the guidance in ASU 2018 15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350 40 2020: (In thousands) Cloud based computing implementation costs as of December 28, 2019 $ 2,543 Costs capitalized 983 Amortization (695 ) Cloud based computing implementation costs as of January 2, 2021 $ 2,831 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5 January 2, December 28, (In thousands) 2021 2019 Production equipment and software $ 135,774 $ 150,591 Leasehold improvements 12,913 12,517 Office furniture and equipment 2,161 2,112 150,848 165,220 Accumulated depreciation and amortization (111,182 ) (125,990 ) $ 39,666 $ 39,230 For fiscal year 2020 2019 2018 Property and Equipment – Geographic Information Our Property and equipment, net by country at the end of each period was as follows: January 2, December 28, (In thousands) 2021 2019 United States $ 29,440 $ 32,313 China 1,537 1,683 Philippines 2,912 2,683 Taiwan 5,171 1,885 Japan 476 283 Other 130 383 Total foreign property and equipment, net 10,226 6,917 Total property and equipment, net $ 39,666 $ 39,230 |
Note 6 - Long-Term Debt
Note 6 - Long-Term Debt | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 6 On May 17, 2019, five five not We used the $175.0 million term loan proceeds and an initial $31.5 million revolving loan draw at closing to (i) repay the $204.4 million obligation outstanding under our previous credit agreement (the “Previous Credit Agreement”), and (ii) pay fees and expenses totaling $2.1 million incurred in connection with the Current Credit Agreement. The revolving loan may 2019. At our option, the term loan and the revolving loan (collectively, "long-term debt") accrue interest at a per annum rate based on either (i) the base rate plus a margin ranging from 0.25% to 1.00%, determined based on our total leverage ratio or (ii) the London Interbank Offered Rate ("LIBOR") for interest periods of 1, 2, 3 6 1 January 2, 2021 The term loan is payable through a combination of (i) required quarterly installments of approximately $4.4 million, and (ii) any payments due upon certain issuances of additional indebtedness and certain asset dispositions, with any remaining outstanding principal amount due and payable on the maturity date of the term loan. The revolving loan is payable at our discretion, with any remaining outstanding principal amount due and payable on the maturity date of the revolving loan. The Current Credit Agreement contains customary affirmative and negative covenants, including covenants limiting the ability of the Company to, among other things, incur debt, grant liens, undergo certain fundamental changes, make investments, make certain restricted payments, dispose of assets, enter into transactions with affiliates, and enter into burdensome agreements, in each case, subject to limitations and exceptions set forth in the Current Credit Agreement. We are also required to maintain compliance with a total leverage ratio and an interest coverage ratio, in each case, determined in accordance with the terms of the Current Credit Agreement. We account for the original issue discount and the debt issuance costs as a reduction to the carrying value of our long-term debt on our Consolidated Balance Sheets. We amortize the discount and costs to Interest expense in our Consolidated Statements of Operations over the contractual term using the effective interest method. We determine the Current portion of long-term debt as the sum of the required quarterly installments to be made over the next twelve twelve During fiscal 2020, second 2020 first 2021. first 2020. January 2, December 28, (In thousands) 2021 2019 Principal amount $ 171,875 $ 148,125 Unamortized original issuance discount and debt costs (1,179 ) (1,579 ) Less: Current portion of long-term debt (12,762 ) (21,474 ) Long-term debt, net of current portion and unamortized debt issue costs $ 157,934 $ 125,072 Interest expense related to our long-term debt is included in Interest expense on our Consolidated Statements of Operations as follows: Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Contractual interest $ 3,319 $ 10,278 $ 18,600 Amortization of original issuance discount and debt costs 400 1,659 2,230 Total interest expense related to long-term debt $ 3,719 $ 11,937 $ 20,830 Expected future principal payments are based on the schedule of required quarterly installments. With the accelerated principal payments we made during the second 2020, second 2021. January 2, 2021 Fiscal year (in thousands) 2021 $ 13,125 2022 17,500 2023 17,500 2024 123,750 $ 171,875 |
Note 7 - Restructuring
Note 7 - Restructuring | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 7 In March 2020, “Q1 2020 2020 . In April 2019, “Q2 2019 2020 2019. January 2, 2021 Q2 2019 In December 2018, “December 2018 no 2020 2019, 2018. January 2, 2021 December 2018 In June 2018, "June 2018 2020 2019 2018. January 2, 2021 June 2018 In June 2017, "June 2017 guring our use of certain leased properties. Under this plan, we incurred restructuring expense of approximately $1.9 million, $2.7 million, and $8.4 million, respectively, during fiscal 2020, 2019, 2018. January 2, 2021 under the June 2017 June 2017 These expenses and credits were recorded to Restructuring charges on our Consolidated Statements of Operations. The restructuring accrual balance is presented in Accrued expenses and Other long-term liabilities on our Consolidated Balance Sheets. The following table displays the activity related to the restructuring plans described above: (In thousands) Severance & Related (1) Lease Termination & Fixed Assets Software Contracts & Engineering Tools (2) Other (3) Total Accrued Restructuring at December 30, 2017 $ 1,192 $ 870 $ 360 $ 25 $ 2,447 Restructuring charges 5,696 7,379 913 3,361 17,349 Costs paid or otherwise settled (5,074 ) 381 (1,055 ) (3,368 ) (9,116 ) Accrued Restructuring at December 29, 2018 $ 1,814 $ 8,630 $ 218 $ 18 $ 10,680 Restructuring charges 625 2,716 — 1,323 4,664 Costs paid or otherwise settled (2,279 ) (4,761 ) (218 ) (476 ) (7,734 ) Accrued Restructuring at December 28, 2019 $ 160 $ 6,585 $ - $ 865 $ 7,610 Restructuring charges 1,669 1,896 — 372 3,937 Costs paid or otherwise settled (1,583 ) (248 ) — (573 ) (2,404 ) Accrued Restructuring at January 2, 2021 $ 246 $ 8,233 $ - $ 664 $ 9,143 ( 1 Includes employee relocation costs and outplacement costs, and accelerated stock compensation ( 2 Includes cancellation of contracts, asset impairments, and accelerated depreciation on certain enterprise resource planning and customer relationship management systems ( 3 In fiscal 2018, 2019 2020, Q2 2019 |
Note 8 - Leases
Note 8 - Leases | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 8 Our facilities for corporate offices, sales offices, research and development facilities, storage facilities, and a data center, are all leased under operating leases, which expire at various times through 2027. January 2, 2021 2020 2019. 2018 The following table presents the lease balance classifications within the Consolidated Balance Sheets and summarizes their activity during fiscal 2020 Operating lease right-of-use assets (in thousands) Balance as of December 28, 2019 $ 23,591 Right-of-use assets obtained for new and modified lease contracts during the period 4,297 Amortization of right-of-use assets during the period (5,960 ) Adjustments for present value and foreign currency effects 250 Balance as of January 2, 2021 $ 22,178 Operating lease liabilities (in thousands) Balance as of December 28, 2019 $ 26,124 Lease liabilities incurred for new lease contracts during the period 2,646 Accretion of lease liabilities 1,629 Operating cash used by payments on lease liabilities (7,713 ) Adjustments for present value and foreign currency effects 369 Balance as of January 2, 2021 23,055 Less: Current portion of operating lease liabilities (included in Accrued expenses) (4,149 ) Long-term operating lease liabilities, net of current portion $ 18,906 Lease obligations for facilities restructured prior to the adoption of Topic 842 January 2, 2021 Maturities of operating lease liabilities as of January 2, 2021 Fiscal year (in thousands) 2021 $ 5,615 2022 5,378 2023 5,057 2024 4,861 2025 3,552 Thereafter 3,229 Total lease payments 27,692 Less: amount representing interest (4,637 ) Total lease liabilities $ 23,055 |
Note 9 - Intangible Assets
Note 9 - Intangible Assets | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 9 In connection with our acquisitions of Silicon Image, Inc. in March 2015 December 2011, 820, Fair Value Measurements third The following tables summarize the details of our Intangible assets, net as of January 2, 2021 December 28, 2019 January 2, 2021 (In thousands) Weighted Average Amortization Period (in years) Gross Accumulated Amortization Intangible assets, net Developed technology 5.0 $ 110,987 $ (109,162 ) $ 1,825 Customer relationships 5.8 22,934 (22,281 ) 653 Licensed technology 6.6 4,376 (533 ) 3,843 Total identified intangible assets $ 138,297 $ (131,976 ) $ 6,321 December 28, 2019 (In thousands) Weighted Average Amortization Period (in years) Gross Accumulated Amortization Intangible assets, net Developed technology 5.0 $ 110,987 $ (105,594 ) $ 5,393 Customer relationships 5.8 22,934 (21,400 ) 1,534 Licensed technology 5.0 459 (409 ) 50 Total identified intangible assets $ 134,380 $ (127,403 ) $ 6,977 We recorded amortization expense related to intangible assets on the Consolidated Statements of Operations as presented in the following table: Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Research and development $ 124 $ 55 $ 277 Amortization of acquired intangible assets 4,449 13,558 17,690 $ 4,573 $ 13,613 $ 17,967 The annual expected amortization expense of acquired intangible assets is as follows: Fiscal year (in thousands) 2021 $ 2,877 2022 876 2023 600 2024 501 2025 501 Thereafter 966 Total $ 6,321 No 2020 2019, no 2018, |
Note 10 - Stock-Based Compensat
Note 10 - Stock-Based Compensation Plans | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 10 Employee and Director Stock Options, Restricted Stock, and ESPP Plans We have two "2013 "2011 2013 422 four not ten In May 2012, 2012 "2012 six 2012 January 2, 2021 , a total of 1.2 million shares of our common stock were available for future purchases under the 2012 At January 2, 2021 , a total of 11.6 million shares of our common stock were available for future grants under the 2013 2011 2018 2.2:1 2013 two two 2013 one 2020 , a total of 2.0 million shares were adjusted out of the 2013 Stock-Based Compensation Expense Total stock-based compensation expense included in our Consolidated Statements of Operations is presented in the following table: Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Cost of revenue $ 3,179 $ 1,422 $ 940 Research and development 10,124 5,640 4,357 Selling, general, and administrative 27,069 11,837 8,349 Total stock-based compensation $ 40,372 $ 18,899 $ 13,646 The stock-based compensation expense included in Selling, general, and administrative expense for fiscal 2018 one first 2018. Stock Options and ESPP The fair values of each option award on the date of grant and of the shares expected to be issued under the employee stock purchase plan were estimated using the Black-Scholes valuation model and the assumptions noted in the following table. The expected term is based on historical vested option exercises and includes an estimate of the expected term for options that are fully vested and outstanding. The expected volatility of both stock options and ESPP shares is based on the daily historical volatility of our stock price, measured over the expected term of the option or the ESPP purchase period. The risk-free interest rate is based on the implied yield on a U.S. Treasury zero no not not The following table summarizes the assumptions used in the valuation of stock option and ESPP compensation: Year Ended January 2, 2021 December 28, 2019 December 29, 2018 Employee and Director Stock Options * Expected volatility n/a n/a 39.87% to 41.11% Risk-free interest rate n/a n/a 2.29% to 2.78% Expected term (years) n/a n/a 4.08 to 4.25 Employee Stock Purchase Plan Weighted average expected volatility 48.2% 31.6% 36.4% Weighted average risk-free interest rate 0.89% 2.51% 1.61% Expected term (in months) 6 6 6 * No 2020 2019 At January 2, 2021 2020 2019 2018 d stock compensation expense $2.0 million, related to stock options $1.0 $0.5 $0.6 The following table summarizes our stock option activity and related information for the year ended January 2, 2021 (Shares and aggregate intrinsic value in thousands) Shares Weighted average exercise price Weighted average remaining contractual term (years) Aggregate Intrinsic Value Balance, December 28, 2019 3,332 $ 6.16 Granted — — Exercised (1,057 ) 5.70 Forfeited or expired (75 ) 5.69 Balance, January 2, 2021 2,200 $ 6.39 Vested and expected to vest at January 2, 2021 2,200 $ 6.39 3.86 $ 86,739 Exercisable, January 2, 2021 1,589 $ 6.40 3.66 $ 62,661 The aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between the Company's closing stock price on the last trading day of the fiscal year and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on that day. This amount changes based on the fair market value of the Company's stock. Total intrinsic value of options exercised for fiscal 2020 2019 2018 No stock options were granted during fiscal 2020 2019. 2018, 2020 2019 2018, Time-Based Restricted Stock Unit Awards The following table summarizes the activity for our time-based RSUs for the year ended January 2, 2021 (Shares in thousands) Shares Weighted average grant date fair value Balance, December 28, 2019 3,611 $ 11.50 Granted 984 26.48 Vested (1,424 ) 10.72 Forfeited or expired (173 ) 12.03 Balance, January 2, 2021 2,998 $ 16.76 At January 2, 2021 $44.3 million 2020 2019 2018 d stock compensation expense related to time-based RSUs $16.6 million, Market-Based and Performance-Based Awards In 2018 through 2020 , we granted awards of RSUs with either a market condition or a performance condition to certain executives. In the first 2020, three 2000 one second third may 75th 55th zero 25th 25th 75th In fiscal years 2018 2019, 2013 three 75th 50th zero 25th 25th 75th four two four first 2020, 2020. first 2020. During the first 2020, first 2019 75th first second 2020, first four two four first 2020. third fourth 2020, 75 one third For our awards with a market condition or a performance condition, we incurred stock compensation expense, including the effect of the modification in the first 2020, 2020 , 2019 , and 2018 , respectively. January 2, 2021 $14.8 The following table summarizes the assumptions used at the grant date in the valuation of RSUs with a market or performance condition: Year Ended January 2, 2021 December 28, 2019 December 29, 2018 Executive RSUs with a market condition or performance condition Weighted average expected volatility 42.38% 40.15% to 41.10% 41.06% to 41.74% Weighted average risk-free interest rate 1.40% 1.66% to 2.55% 2.71% to 2.87% Expected term (years) 3.00 3.00 3.00 to 3.16 The following table summarizes the activity for our awards with a market condition or performance condition: (Shares in thousands) Shares Weighted average grant date fair value Balance, December 28, 2019 1,163 $ 14.49 Granted 349 32.23 Effect of vesting multiplier 472 — Vested (963 ) 15.63 Canceled — — Balance, January 2, 2021 1,021 $ 20.42 |
Note 11 - Common Stock Repurcha
Note 11 - Common Stock Repurchase Program | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | Note 11 On February 14, 2020, twelve fourth 2020, 2020 2020 first 2021, |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 12 We are subject to federal and state income tax as well as income tax in the various foreign jurisdictions in which we operate. The domestic and foreign components of Income (loss) before income taxes were as follows: Year Ended (In thousands) January 2, 2021 December 28, 2019 December 29, 2018 Domestic $ 11,772 $ 33,417 $ (8,274 ) Foreign 36,684 11,648 (15,695 ) Income (loss) before taxes $ 48,456 $ 45,065 $ (23,969 ) The components of Income tax expense are as follows: Year Ended (In thousands) January 2, 2021 December 28, 2019 December 29, 2018 Current: Federal $ 54 $ 499 $ 536 State 68 45 38 Foreign 1,025 1,345 1,869 1,147 1,889 2,443 Deferred: Federal — — — State — — — Foreign (83 ) (317 ) (90 ) (83 ) (317 ) (90 ) Income tax expense $ 1,064 $ 1,572 $ 2,353 Income tax expense differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to pretax income as a result of the following differences: Year Ended January 2, 2021 December 28, 2019 December 29, 2018 % % % Statutory federal rate 21 21 (21) Adjustments for tax effects of: State taxes, net (4) 3 (6) Research and development credits (3) 3 (5) Stock compensation (23) (11) 8 Foreign rate differential (12) (2) 20 Foreign dividends 15 — — Foreign withholding taxes 3 3 5 162(m) executive compensation limitation 13 5 2 Other deferred tax asset adjustment 3 — 13 Valuation allowance (13) (19) (11) Change in uncertain tax benefit accrual 2 — 2 Other — 1 3 Effective income tax rate 2 4 10 ASC 740, Income Taxes not. Through January 2, 2021 not . The components of our net deferred tax assets are as follows: (In thousands) January 2, 2021 December 28, 2019 Deferred tax assets: Accrued expenses and reserves $ 5,464 $ 3,527 Stock-based and deferred compensation 3,851 2,812 Lease liability 4,190 4,369 Intangible assets 10,082 12,294 Fixed assets 351 256 Net operating loss carry forwards 87,443 86,899 Tax credit carry forwards 83,534 90,339 Capital loss carry forwards 4,018 4,235 Other 934 1,059 Total deferred tax assets 199,867 205,790 Less: valuation allowance (192,478 ) (198,499 ) Net deferred tax assets 7,389 7,291 Deferred tax liabilities: Fixed assets 2,809 2,620 Unremitted earnings 1,746 — Deferred revenue 64 434 Right-of-use asset 3,939 3,759 Total deferred tax liabilities 8,558 6,813 Net deferred taxes (1,169 ) 478 The following table displays the activity related to changes in our valuation allowance for deferred tax assets: Fiscal Years Ended Balance at beginning Charged (Credit) to costs and Charged (credit) to other Balance at end of (in thousands) of period expenses accounts period January 2, 2021 $ 198,499 $ (6,021 ) $ — $ 192,478 December 28, 2019 $ 207,108 $ (8,609 ) $ — $ 198,499 December 29, 2018 $ 209,691 $ (2,583 ) $ — $ 207,108 At January 2, 2021 2021 2037. 2021 2037. not 2021 2040. Future utilization of federal and state net operating losses and tax credit carry forwards may 50% three may Foreign earnings may January 2, 2021 not At January 2, 2021 January 2, 2021 not The following table summarizes the changes to unrecognized tax benefits for the fiscal years presented: (in thousands) Balance at December 30, 2017 $ 58,377 Additions based on tax positions related to the current year 389 Additions based on tax positions of prior years 759 Reduction for tax positions of prior years (5 ) Reduction as a result of lapse of applicable statute of limitations (1,235 ) Balance at December 29, 2018 58,285 Additions based on tax positions related to the current year 238 Additions based on tax positions of prior years 1,084 Reductions for tax positions of prior years (213 ) Reduction as a result of lapse of applicable statute of limitations (2,432 ) Balance at December 28, 2019 56,962 Additions based on tax positions related to the current year 548 Additions based on tax positions of prior years 628 Reductions for tax positions of prior years — Reduction as a result of lapse of applicable statute of limitations (2,401 ) Balance at January 2, 2021 $ 55,737 The balance of the unrecognized tax benefit at December 30, 2017 $58,377 2018 2019 Our liability for uncertain tax positions (including penalties and interest) was $22.3 million and $24.6 million at January 2, 2021 December 28, 2019 At January 2, 2021 twelve no The years that remain subject to examination are 2017 for federal income taxes, 2016 for state income taxes, and 2013 for foreign income taxes, including years ending thereafter. However, to the extent allowed by law, the tax authorities may Our Philippines 2016 2017 2013 2017 not We are not not In response to the COVID- 19 March 2020. 2017 2017 80% 2018, 2019 2020. may 50% 30% 2017 January 1, 2019 2020. 15 100% not not January 2, 2021. |
Note 13 - Employee Benefit Plan
Note 13 - Employee Benefit Plans | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 13 Qualified Investment Plan In 1990, 401 may not 2020 2019 2018 Cash Incentive Plans For 2020 2019 2018 not first 2020 2019 2018 |
Note 14 - Contingencies
Note 14 - Contingencies | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | 14 Legal Matters On or about December 19, 2018, 2008. January 2019, not From time to time, we are exposed to certain asserted and unasserted potential claims. Periodically, we review the status of each significant matter and assess its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and a range of possible losses can be estimated, we then accrue a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based only on the best information available at the time. As additional information becomes available, we reassess the potential liability related to pending claims and litigation and may |
Note 15 - Quarterly Financial D
Note 15 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 15 A summary of the Company's consolidated quarterly results of operations is as follows: 2020 2019 (In thousands, except per share data) Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Revenue $ 107,173 $ 103,042 $ 100,589 $ 97,316 $ 100,237 $ 103,469 $ 102,296 $ 98,091 Gross margin 64,861 62,306 60,577 57,562 59,293 61,439 60,038 57,652 Restructuring charges (241 ) 2,692 546 940 (55 ) 252 3,126 1,341 Net income $ 15,989 $ 12,607 $ 10,629 $ 8,167 $ 13,987 $ 13,539 $ 8,559 $ 7,408 Net income per share - basic $ 0.12 $ 0.09 $ 0.08 $ 0.06 $ 0.10 $ 0.10 $ 0.06 $ 0.06 Net income per share - diluted $ 0.11 $ 0.09 $ 0.08 $ 0.06 $ 0.10 $ 0.10 $ 0.06 $ 0.05 |
Note 16 - Subsequent Event
Note 16 - Subsequent Event | 12 Months Ended |
Jan. 02, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 16 Subsequent to January 2, 2021, may twelve |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 02, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP"). They include the accounts of Lattice and its subsidiaries after the elimination of all intercompany balances and transactions. |
Use of Estimates, Policy [Policy Text Block] | The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments affecting the amounts reported in our consolidated condensed financial statements and the accompanying notes. The actual results that we experience may Certain prior year balances have been reclassified to conform to the current year’s presentation. |
Fiscal Period, Policy [Policy Text Block] | Fiscal Reporting Periods We report based on a 52 53 December 31. 2020 53 January 2, 2021. 2019 2018 52 December 28, 2019 December 29, 2018 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Risk Potential exposure to concentrations of risk may Distributors have historically accounted for a significant portion of our total revenue. Our two 10% Year Ended January 2, 2021 December 28, 2019 December 29, 2018 Weikeng Group 35 % 30 % 25 % Arrow Electronics Inc. 25 25 29 Other distributors 23 27 29 Revenue attributable to distributors 83 % 82 % 83 % At January 2, 2021 December 28, 2019 Concentration of credit risk with respect to accounts receivable is mitigated by our credit and collection process including active management of collections, credit limits, routine credit evaluations for essentially all customers, and secure transactions with letters of credit or advance payments where appropriate. We regularly review our allowance for doubtful accounts and the aging of our accounts receivable. We rely on a limited number of foundries for our wafer purchases. We seek to mitigate the concentration of supply risk by establishing, maintaining and managing multiple foundry relationships; however, certain of our products are sourced from a single foundry and changing from one |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents We consider all investments that are readily convertible into cash and that have original maturities of three |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Exchange and Translation of Foreign Currencies While our revenues and the majority of our expenses are denominated in U.S. dollars, we also have international subsidiaries and branch operations that conduct some transactions in currencies that differ from the functional currency of that entity. Gains or losses from foreign exchange rate fluctuations on balances denominated in currencies that differ from the functional currencies are reflected in Other expense, net. We translate accounts denominated in foreign currencies in accordance with ASC 830, Foreign Currency Matters |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Under the terms of ASC 606, "Revenue from Contracts with Customers" Our Licensing and services revenue is comprised of revenue from our intellectual property ("IP") core licensing activity, patent monetization activities, design services, and royalty and adopter fee revenue from our standards activities. These activities are complementary to our product sales and help us to monetize our IP associated with our technology and standards. We consider licensing arrangements with our customers and agreements with the standards consortia of which we are a member to be the contract. For each contract, we consider the promise to deliver a license that grants the customer the right to use the IP, as well as any professional services provided under the contract, as distinct performance obligations. We recognize license revenue at the point in time that control of the license transfers to the customer, which is generally upon delivery, or as usage occurs. We measure revenue based on the amount of consideration we expect to be entitled to in exchange for products or services. Variable consideration is estimated and reflected as an adjustment to the transaction price. We determine variable consideration, which consists primarily of various sales price concessions, by estimating the most likely amount of consideration we expect to receive from the customer based on an analysis of historical rebate claims over a period of time considered adequate to account for current pricing and business trends. Sales rebates earned by customers are offset against their receivable balances. Rebates earned by customers when they do not We generally provide an assurance warranty that our products will substantially conform to the published specifications for twelve may twelve not 340, one twelve |
Inventory, Policy [Policy Text Block] | Inventories and Cost of Revenue Inventories are stated at the lower of actual cost (determined using the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets, generally three five one three three |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets Long-lived assets, which consist primarily of property and equipment, amortizable intangible assets, and right-of-use assets, are carried on our financial statements based on their cost less accumulated depreciation or amortization. We monitor the carrying value of our long-lived assets for potential impairment and test the recoverability of such assets whenever events or changes in circumstances indicate that their carrying amounts may not third may no Note 9 |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Valuation of Goodwill Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not not fourth may not not not no No 2020 2019, no second 2018 June 30, 2018. not 2018. |
Lessee, Leases [Policy Text Block] | Leases We account for leases under the terms of ASC 842, Leases 12 not not not 842, 2019 01, Leases (Topic 842 842. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized on the commencement date of the lease based on the present value of lease payments over the lease term. As most of our leases do not The exercise of lease renewal options is at our sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term and lease payment obligation, respectively. For our leases that contain variable lease payments, residual value guarantees, or restrictive covenants, we have concluded that these inputs are not |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development expenses include costs for compensation and benefits, engineering wafers, depreciation, licenses, and outside engineering services. These expenditures are for the design of new products, intellectual property cores, processes, packaging, and software solutions. Research and development costs are generally expensed as incurred, with certain licensed technology agreements capitalized as intangible assets and amortized to Research and development expense over their estimated useful lives. |
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block] | Restructuring Charges Expenses associated with exit or disposal activities are recognized when incurred under ASC 420, Exit or Disposal Cost Obligations 712, Compensation - Nonretirement Postemployment Benefits. 360, Property, Plant, and Equipment |
Income Tax, Policy [Policy Text Block] | Accounting for Income Taxes Our provision for income tax is comprised of our current tax liability and changes in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements using enacted tax rates and laws that will be in effect when the difference is expected to reverse. Valuation allowances are provided to reduce deferred tax assets to an amount that in management’s judgment is more-likely-than- not In assessing the ability to realize deferred tax assets, we evaluate both positive and negative evidence that may not Our income tax calculations are based on application of the respective U.S. federal, state or foreign tax law . not not 50% |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation We estimate the fair value of share-based awards consistent with the provisions of ASC 718, Compensation - Stock Compensation three 2018 2019 2000 2020. four four |
Segment Reporting, Policy [Policy Text Block] | Segment Information As of January 2, 2021 one |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements In December 2019, 2019 12, Income Taxes (Topic 740 December 15, 2020. may not 2019 12 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year Ended January 2, 2021 December 28, 2019 December 29, 2018 Weikeng Group 35 % 30 % 25 % Arrow Electronics Inc. 25 25 29 Other distributors 23 27 29 Revenue attributable to distributors 83 % 82 % 83 % |
Note 2 - Net Income (Loss) Pe_2
Note 2 - Net Income (Loss) Per Share (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended January 2, December 28, December 29, (in thousands, except per share data) 2021 2019 2018 Net income (loss) $ 47,392 $ 43,493 $ (26,322 ) Shares used in basic Net income (loss) per share 135,220 132,471 126,564 Dilutive effect of stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition 6,056 4,803 — Shares used in diluted Net income (loss) per share 141,276 137,274 126,564 Basic Net income (loss) per share $ 0.35 $ 0.33 $ (0.21 ) Diluted Net income (loss) per share $ 0.34 $ 0.32 $ (0.21 ) Year Ended January 2, December 28, December 29, (in thousands) 2021 2019 2018 Stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition excluded as they are antidilutive 316 890 7,567 |
Note 3 - Revenue From Contrac_2
Note 3 - Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Major Class of Revenue Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Product $ 388,502 95 % $ 382,548 95 % $ 380,468 95 % Licensing and services 19,618 5 % 21,545 5 % 18,331 5 % Total revenue $ 408,120 100 % $ 404,093 100 % $ 398,799 100 % Revenue by Channel Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Product revenue - Distributors $ 339,100 83 % $ 331,941 82 % $ 330,719 83 % Product revenue - Direct 49,402 12 % 50,607 13 % 49,749 12 % Licensing and services revenue 19,618 5 % 21,545 5 % 18,331 5 % Total revenue $ 408,120 100 % $ 404,093 100 % $ 398,799 100 % Revenue by Geographical Market Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 United States $ 43,945 11 % $ 44,330 11 % $ 38,585 10 % Other Americas 18,192 4 % 13,606 3 % 16,549 4 % Americas 62,137 15 % 57,936 14 % 55,134 14 % China 213,714 52 % 206,107 51 % 202,983 51 % Taiwan 30,972 8 % 19,746 5 % 16,124 4 % Japan 25,435 6 % 42,658 11 % 44,033 11 % Other Asia 35,062 9 % 30,254 7 % 34,979 9 % Asia 305,183 75 % 298,765 74 % 298,119 75 % Europe 40,800 10 % 47,392 12 % 45,546 11 % Total revenue $ 408,120 100 % $ 404,093 100 % $ 398,799 100 % |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | (In thousands) Contract assets as of December 29, 2018 $ 9,143 Revenues recorded during the period 17,356 Transferred to Accounts receivable or collected (20,930 ) Contract assets as of December 28, 2019 $ 5,569 Revenues recorded during the period 15,860 Transferred to Accounts receivable or collected (15,818 ) Contract assets as of January 2, 2021 $ 5,611 (In thousands) Contract liabilities as of December 29, 2018 $ 1,614 Accruals for estimated future stock rotation and scrap returns 5,763 Less: Release of accruals for recognized stock rotation and scrap returns (5,064 ) Contract liabilities as of December 28, 2019 $ 2,313 Accruals for estimated future stock rotation and scrap returns 5,976 Less: Release of accruals for recognized stock rotation and scrap returns (5,221 ) Contract liabilities as of January 2, 2021 $ 3,068 |
Note 4 - Balance Sheet Compon_2
Note 4 - Balance Sheet Components (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | January 2, December 28, (In thousands) 2021 2019 Accounts receivable $ 64,635 $ 65,023 Less: Allowance for credit losses (54 ) (106 ) Accounts receivable, net of allowance for credit losses $ 64,581 $ 64,917 |
Schedule of Inventory, Current [Table Text Block] | January 2, December 28, (In thousands) 2021 2019 Work in progress $ 34,724 $ 39,855 Finished goods 29,875 15,125 Total inventories, net $ 64,599 $ 54,980 |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | January 2, December 28, (In thousands) 2021 2019 Liability for non-cancelable contracts $ 8,492 $ 6,964 Current portion of operating lease liabilities 4,149 4,686 Other accrued expenses 8,770 8,941 Total accrued expenses $ 21,411 $ 20,591 |
Schedule of Capitalized Software Costs [Table Text Block] | (In thousands) Cloud based computing implementation costs as of December 28, 2019 $ 2,543 Costs capitalized 983 Amortization (695 ) Cloud based computing implementation costs as of January 2, 2021 $ 2,831 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | January 2, December 28, (In thousands) 2021 2019 Production equipment and software $ 135,774 $ 150,591 Leasehold improvements 12,913 12,517 Office furniture and equipment 2,161 2,112 150,848 165,220 Accumulated depreciation and amortization (111,182 ) (125,990 ) $ 39,666 $ 39,230 January 2, December 28, (In thousands) 2021 2019 United States $ 29,440 $ 32,313 China 1,537 1,683 Philippines 2,912 2,683 Taiwan 5,171 1,885 Japan 476 283 Other 130 383 Total foreign property and equipment, net 10,226 6,917 Total property and equipment, net $ 39,666 $ 39,230 |
Note 6 - Long-Term Debt (Tables
Note 6 - Long-Term Debt (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | January 2, December 28, (In thousands) 2021 2019 Principal amount $ 171,875 $ 148,125 Unamortized original issuance discount and debt costs (1,179 ) (1,579 ) Less: Current portion of long-term debt (12,762 ) (21,474 ) Long-term debt, net of current portion and unamortized debt issue costs $ 157,934 $ 125,072 |
Interest Income and Interest Expense Disclosure [Table Text Block] | Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Contractual interest $ 3,319 $ 10,278 $ 18,600 Amortization of original issuance discount and debt costs 400 1,659 2,230 Total interest expense related to long-term debt $ 3,719 $ 11,937 $ 20,830 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Fiscal year (in thousands) 2021 $ 13,125 2022 17,500 2023 17,500 2024 123,750 $ 171,875 |
Note 7 - Restructuring (Tables)
Note 7 - Restructuring (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | (In thousands) Severance & Related (1) Lease Termination & Fixed Assets Software Contracts & Engineering Tools (2) Other (3) Total Accrued Restructuring at December 30, 2017 $ 1,192 $ 870 $ 360 $ 25 $ 2,447 Restructuring charges 5,696 7,379 913 3,361 17,349 Costs paid or otherwise settled (5,074 ) 381 (1,055 ) (3,368 ) (9,116 ) Accrued Restructuring at December 29, 2018 $ 1,814 $ 8,630 $ 218 $ 18 $ 10,680 Restructuring charges 625 2,716 — 1,323 4,664 Costs paid or otherwise settled (2,279 ) (4,761 ) (218 ) (476 ) (7,734 ) Accrued Restructuring at December 28, 2019 $ 160 $ 6,585 $ - $ 865 $ 7,610 Restructuring charges 1,669 1,896 — 372 3,937 Costs paid or otherwise settled (1,583 ) (248 ) — (573 ) (2,404 ) Accrued Restructuring at January 2, 2021 $ 246 $ 8,233 $ - $ 664 $ 9,143 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Lessee, Operating Lease Right-of-Use Assets and Liabilities [Table Text Block] | Operating lease right-of-use assets (in thousands) Balance as of December 28, 2019 $ 23,591 Right-of-use assets obtained for new and modified lease contracts during the period 4,297 Amortization of right-of-use assets during the period (5,960 ) Adjustments for present value and foreign currency effects 250 Balance as of January 2, 2021 $ 22,178 Operating lease liabilities (in thousands) Balance as of December 28, 2019 $ 26,124 Lease liabilities incurred for new lease contracts during the period 2,646 Accretion of lease liabilities 1,629 Operating cash used by payments on lease liabilities (7,713 ) Adjustments for present value and foreign currency effects 369 Balance as of January 2, 2021 23,055 Less: Current portion of operating lease liabilities (included in Accrued expenses) (4,149 ) Long-term operating lease liabilities, net of current portion $ 18,906 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Fiscal year (in thousands) 2021 $ 5,615 2022 5,378 2023 5,057 2024 4,861 2025 3,552 Thereafter 3,229 Total lease payments 27,692 Less: amount representing interest (4,637 ) Total lease liabilities $ 23,055 |
Note 9 - Intangible Assets (Tab
Note 9 - Intangible Assets (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | January 2, 2021 (In thousands) Weighted Average Amortization Period (in years) Gross Accumulated Amortization Intangible assets, net Developed technology 5.0 $ 110,987 $ (109,162 ) $ 1,825 Customer relationships 5.8 22,934 (22,281 ) 653 Licensed technology 6.6 4,376 (533 ) 3,843 Total identified intangible assets $ 138,297 $ (131,976 ) $ 6,321 December 28, 2019 (In thousands) Weighted Average Amortization Period (in years) Gross Accumulated Amortization Intangible assets, net Developed technology 5.0 $ 110,987 $ (105,594 ) $ 5,393 Customer relationships 5.8 22,934 (21,400 ) 1,534 Licensed technology 5.0 459 (409 ) 50 Total identified intangible assets $ 134,380 $ (127,403 ) $ 6,977 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Research and development $ 124 $ 55 $ 277 Amortization of acquired intangible assets 4,449 13,558 17,690 $ 4,573 $ 13,613 $ 17,967 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal year (in thousands) 2021 $ 2,877 2022 876 2023 600 2024 501 2025 501 Thereafter 966 Total $ 6,321 |
Note 10 - Stock-Based Compens_2
Note 10 - Stock-Based Compensation Plans (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended January 2, December 28, December 29, (In thousands) 2021 2019 2018 Cost of revenue $ 3,179 $ 1,422 $ 940 Research and development 10,124 5,640 4,357 Selling, general, and administrative 27,069 11,837 8,349 Total stock-based compensation $ 40,372 $ 18,899 $ 13,646 |
Schedule of Share-based Payment Award, Stock Options and Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Year Ended January 2, 2021 December 28, 2019 December 29, 2018 Employee and Director Stock Options * Expected volatility n/a n/a 39.87% to 41.11% Risk-free interest rate n/a n/a 2.29% to 2.78% Expected term (years) n/a n/a 4.08 to 4.25 Employee Stock Purchase Plan Weighted average expected volatility 48.2% 31.6% 36.4% Weighted average risk-free interest rate 0.89% 2.51% 1.61% Expected term (in months) 6 6 6 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | (Shares and aggregate intrinsic value in thousands) Shares Weighted average exercise price Weighted average remaining contractual term (years) Aggregate Intrinsic Value Balance, December 28, 2019 3,332 $ 6.16 Granted — — Exercised (1,057 ) 5.70 Forfeited or expired (75 ) 5.69 Balance, January 2, 2021 2,200 $ 6.39 Vested and expected to vest at January 2, 2021 2,200 $ 6.39 3.86 $ 86,739 Exercisable, January 2, 2021 1,589 $ 6.40 3.66 $ 62,661 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | (Shares in thousands) Shares Weighted average grant date fair value Balance, December 28, 2019 3,611 $ 11.50 Granted 984 26.48 Vested (1,424 ) 10.72 Forfeited or expired (173 ) 12.03 Balance, January 2, 2021 2,998 $ 16.76 |
Schedule of Share-based Payment Award, Restricted Stock Units, Valuation Assumptions [Table Text Block] | Year Ended January 2, 2021 December 28, 2019 December 29, 2018 Executive RSUs with a market condition or performance condition Weighted average expected volatility 42.38% 40.15% to 41.10% 41.06% to 41.74% Weighted average risk-free interest rate 1.40% 1.66% to 2.55% 2.71% to 2.87% Expected term (years) 3.00 3.00 3.00 to 3.16 |
Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block] | (Shares in thousands) Shares Weighted average grant date fair value Balance, December 28, 2019 1,163 $ 14.49 Granted 349 32.23 Effect of vesting multiplier 472 — Vested (963 ) 15.63 Canceled — — Balance, January 2, 2021 1,021 $ 20.42 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended (In thousands) January 2, 2021 December 28, 2019 December 29, 2018 Domestic $ 11,772 $ 33,417 $ (8,274 ) Foreign 36,684 11,648 (15,695 ) Income (loss) before taxes $ 48,456 $ 45,065 $ (23,969 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended (In thousands) January 2, 2021 December 28, 2019 December 29, 2018 Current: Federal $ 54 $ 499 $ 536 State 68 45 38 Foreign 1,025 1,345 1,869 1,147 1,889 2,443 Deferred: Federal — — — State — — — Foreign (83 ) (317 ) (90 ) (83 ) (317 ) (90 ) Income tax expense $ 1,064 $ 1,572 $ 2,353 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended January 2, 2021 December 28, 2019 December 29, 2018 % % % Statutory federal rate 21 21 (21) Adjustments for tax effects of: State taxes, net (4) 3 (6) Research and development credits (3) 3 (5) Stock compensation (23) (11) 8 Foreign rate differential (12) (2) 20 Foreign dividends 15 — — Foreign withholding taxes 3 3 5 162(m) executive compensation limitation 13 5 2 Other deferred tax asset adjustment 3 — 13 Valuation allowance (13) (19) (11) Change in uncertain tax benefit accrual 2 — 2 Other — 1 3 Effective income tax rate 2 4 10 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (In thousands) January 2, 2021 December 28, 2019 Deferred tax assets: Accrued expenses and reserves $ 5,464 $ 3,527 Stock-based and deferred compensation 3,851 2,812 Lease liability 4,190 4,369 Intangible assets 10,082 12,294 Fixed assets 351 256 Net operating loss carry forwards 87,443 86,899 Tax credit carry forwards 83,534 90,339 Capital loss carry forwards 4,018 4,235 Other 934 1,059 Total deferred tax assets 199,867 205,790 Less: valuation allowance (192,478 ) (198,499 ) Net deferred tax assets 7,389 7,291 Deferred tax liabilities: Fixed assets 2,809 2,620 Unremitted earnings 1,746 — Deferred revenue 64 434 Right-of-use asset 3,939 3,759 Total deferred tax liabilities 8,558 6,813 Net deferred taxes (1,169 ) 478 |
Summary of Valuation Allowance [Table Text Block] | Fiscal Years Ended Balance at beginning Charged (Credit) to costs and Charged (credit) to other Balance at end of (in thousands) of period expenses accounts period January 2, 2021 $ 198,499 $ (6,021 ) $ — $ 192,478 December 28, 2019 $ 207,108 $ (8,609 ) $ — $ 198,499 December 29, 2018 $ 209,691 $ (2,583 ) $ — $ 207,108 |
Schedule of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns Roll Forward [Table Text Block] | (in thousands) Balance at December 30, 2017 $ 58,377 Additions based on tax positions related to the current year 389 Additions based on tax positions of prior years 759 Reduction for tax positions of prior years (5 ) Reduction as a result of lapse of applicable statute of limitations (1,235 ) Balance at December 29, 2018 58,285 Additions based on tax positions related to the current year 238 Additions based on tax positions of prior years 1,084 Reductions for tax positions of prior years (213 ) Reduction as a result of lapse of applicable statute of limitations (2,432 ) Balance at December 28, 2019 56,962 Additions based on tax positions related to the current year 548 Additions based on tax positions of prior years 628 Reductions for tax positions of prior years — Reduction as a result of lapse of applicable statute of limitations (2,401 ) Balance at January 2, 2021 $ 55,737 |
Note 15 - Quarterly Financial_2
Note 15 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Jan. 02, 2021 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2020 2019 (In thousands, except per share data) Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Revenue $ 107,173 $ 103,042 $ 100,589 $ 97,316 $ 100,237 $ 103,469 $ 102,296 $ 98,091 Gross margin 64,861 62,306 60,577 57,562 59,293 61,439 60,038 57,652 Restructuring charges (241 ) 2,692 546 940 (55 ) 252 3,126 1,341 Net income $ 15,989 $ 12,607 $ 10,629 $ 8,167 $ 13,987 $ 13,539 $ 8,559 $ 7,408 Net income per share - basic $ 0.12 $ 0.09 $ 0.08 $ 0.06 $ 0.10 $ 0.10 $ 0.06 $ 0.06 Net income per share - diluted $ 0.11 $ 0.09 $ 0.08 $ 0.06 $ 0.10 $ 0.10 $ 0.06 $ 0.05 |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation and Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019USD ($) | Dec. 29, 2018USD ($) | |
Goodwill, Impairment Loss | $ 0 | $ 0 | |
Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights, Number Of Consecutive Trailing Periods | 2 | ||
Number of Operating Segments | 1 | ||
Performance Shares [Member] | TSR Relative To PHLX Semiconductor Sector Index, 25th Percentile [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 0.00% | ||
Performance Shares [Member] | TSR Relative To PHLX Semiconductor Sector Index, 75th Percentile [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 100.00% | ||
Minimum [Member] | Performance Shares [Member] | TSR Relative To PHLX Semiconductor Sector Index, 25th Percentile [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 0.00% | ||
Minimum [Member] | Performance Shares [Member] | TSR Relative To PHLX Semiconductor Sector Index, 75th Percentile [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 200.00% | ||
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Year) | 3 years | ||
Maximum [Member] | Performance Shares [Member] | TSR Relative To PHLX Semiconductor Sector Index, 75th Percentile [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 250.00% | ||
Production Equipment and Software [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Production Equipment and Software [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||
Tools, Dies and Molds [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 1 year | ||
Tools, Dies and Molds [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Accounts Receivable [Member] | Weikeng Group [Member] | Customer Concentration Risk [Member] | |||
Concentration Risk, Percentage | 47.00% | 38.00% | |
Accounts Receivable [Member] | Arrow Electronics Inc [Member] | Customer Concentration Risk [Member] | |||
Concentration Risk, Percentage | 45.00% | 40.00% |
Note 1 - Basis of Presentatio_4
Note 1 - Basis of Presentation and Significant Accounting Policies - Concentration of Risk By Risk (Details) - Revenue Benchmark [Member] | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Revenue Percentage | 83.00% | 82.00% | 83.00% |
Weikeng Group [Member] | |||
Revenue Percentage | 35.00% | 30.00% | 25.00% |
Arrow Electronics Inc [Member] | |||
Revenue Percentage | 25.00% | 25.00% | 29.00% |
Other [Member] | |||
Revenue Percentage | 23.00% | 27.00% | 29.00% |
Note 2 - Net Income (Loss) Pe_3
Note 2 - Net Income (Loss) Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 02, 2021 | Sep. 26, 2020 | Jun. 27, 2020 | Mar. 28, 2020 | Dec. 28, 2019 | Sep. 28, 2019 | Jun. 29, 2019 | Mar. 30, 2019 | Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Net income (loss) | $ 15,989 | $ 12,607 | $ 10,629 | $ 8,167 | $ 13,987 | $ 13,539 | $ 8,559 | $ 7,408 | $ 47,392 | $ 43,493 | $ (26,322) |
Shares used in basic Net income (loss) per share (in shares) | 135,220 | 132,471 | 126,564 | ||||||||
Dilutive effect of stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition (in shares) | 6,056 | 4,803 | 0 | ||||||||
Shares used in diluted Net income (loss) per share (in shares) | 141,276 | 137,274 | 126,564 | ||||||||
Net income per share - basic (in dollars per share) | $ 0.12 | $ 0.09 | $ 0.08 | $ 0.06 | $ 0.10 | $ 0.10 | $ 0.06 | $ 0.06 | $ 0.35 | $ 0.33 | $ (0.21) |
Net income per share - diluted (in dollars per share) | $ 0.11 | $ 0.09 | $ 0.08 | $ 0.06 | $ 0.10 | $ 0.10 | $ 0.06 | $ 0.05 | $ 0.34 | $ 0.32 | $ (0.21) |
Stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition excluded as they are antidilutive (in shares) | 316 | 890 | 7,567 |
Note 3 - Revenue From Contrac_3
Note 3 - Revenue From Contracts With Customers (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 02, 2021 | Dec. 28, 2019 | |
Revenue From Contract With Customer, Processing Of Return Merchandise Authorizations | $ 6.1 | $ 5 |
Revenue From Contract With Customer, Net Impact From Release Of Accruals Offsetting By Return Merchandise Authorization | $ 0.9 | $ 0.1 |
Note 3 - Revenue From Contrac_4
Note 3 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 02, 2021 | Sep. 26, 2020 | Jun. 27, 2020 | Mar. 28, 2020 | Dec. 28, 2019 | Sep. 28, 2019 | Jun. 29, 2019 | Mar. 30, 2019 | Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Revenue | $ 107,173 | $ 103,042 | $ 100,589 | $ 97,316 | $ 100,237 | $ 103,469 | $ 102,296 | $ 98,091 | $ 408,120 | $ 404,093 | $ 398,799 |
Percentage of revenue | 100.00% | 100.00% | 100.00% | ||||||||
UNITED STATES | |||||||||||
Revenue | $ 43,945 | $ 44,330 | $ 38,585 | ||||||||
Percentage of revenue | 11.00% | 11.00% | 10.00% | ||||||||
Other Americas [Member] | |||||||||||
Revenue | $ 18,192 | $ 13,606 | $ 16,549 | ||||||||
Percentage of revenue | 4.00% | 3.00% | 4.00% | ||||||||
Americas [Member] | |||||||||||
Revenue | $ 62,137 | $ 57,936 | $ 55,134 | ||||||||
Percentage of revenue | 15.00% | 14.00% | 14.00% | ||||||||
CHINA | |||||||||||
Revenue | $ 213,714 | $ 206,107 | $ 202,983 | ||||||||
Percentage of revenue | 52.00% | 51.00% | 51.00% | ||||||||
TAIWAN, PROVINCE OF CHINA | |||||||||||
Revenue | $ 30,972 | $ 19,746 | $ 16,124 | ||||||||
Percentage of revenue | 8.00% | 5.00% | 4.00% | ||||||||
JAPAN | |||||||||||
Revenue | $ 25,435 | $ 42,658 | $ 44,033 | ||||||||
Percentage of revenue | 6.00% | 11.00% | 11.00% | ||||||||
Other Asia [Member] | |||||||||||
Revenue | $ 35,062 | $ 30,254 | $ 34,979 | ||||||||
Percentage of revenue | 9.00% | 7.00% | 9.00% | ||||||||
Asia [Member] | |||||||||||
Revenue | $ 305,183 | $ 298,765 | $ 298,119 | ||||||||
Percentage of revenue | 75.00% | 74.00% | 75.00% | ||||||||
Europe [Member] | |||||||||||
Revenue | $ 40,800 | $ 47,392 | $ 45,546 | ||||||||
Percentage of revenue | 10.00% | 12.00% | 11.00% | ||||||||
Product [Member] | |||||||||||
Revenue | $ 388,502 | $ 382,548 | $ 380,468 | ||||||||
Percentage of revenue | 95.00% | 95.00% | 95.00% | ||||||||
Product [Member] | Sales Channel, Through Intermediary [Member] | |||||||||||
Revenue | $ 339,100 | $ 331,941 | $ 330,719 | ||||||||
Percentage of revenue | 83.00% | 82.00% | 83.00% | ||||||||
Product [Member] | Sales Channel, Directly to Consumer [Member] | |||||||||||
Revenue | $ 49,402 | $ 50,607 | $ 49,749 | ||||||||
Percentage of revenue | 12.00% | 13.00% | 12.00% | ||||||||
License and Service [Member] | |||||||||||
Revenue | $ 19,618 | $ 21,545 | $ 18,331 | ||||||||
Percentage of revenue | 5.00% | 5.00% | 5.00% |
Note 3 - Revenue From Contrac_5
Note 3 - Revenue From Contracts With Customers - Contract Balance (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 02, 2021 | Dec. 28, 2019 | |
Contract assets, balance | $ 5,569 | $ 9,143 |
Revenues recorded during the period | 15,860 | 17,356 |
Transferred to Accounts receivable or collected | 15,818 | (20,930) |
Transferred to Accounts receivable or collected | (15,818) | 20,930 |
Contract assets, balance | 5,611 | 5,569 |
Contract liabilities, balance | 2,313 | 1,614 |
Accruals for estimated future stock rotation and scrap returns | 5,976 | 5,763 |
Less: Release of accruals for recognized stock rotation and scrap returns | (5,221) | (5,064) |
Contract liabilities, balance | $ 3,068 | $ 2,313 |
Note 4 - Balance Sheet Compon_3
Note 4 - Balance Sheet Components - Accounts Receivable (Details) - USD ($) $ in Thousands | Jan. 02, 2021 | Dec. 28, 2019 |
Accounts receivable | $ 64,635 | $ 65,023 |
Less: Allowance for credit losses | (54) | (106) |
Accounts receivable, net of allowance for credit losses | $ 64,581 | $ 64,917 |
Note 4 - Balance Sheet Compon_4
Note 4 - Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands | Jan. 02, 2021 | Dec. 28, 2019 |
Work in progress | $ 34,724 | $ 39,855 |
Finished goods | 29,875 | 15,125 |
Total inventories, net | $ 64,599 | $ 54,980 |
Note 4 - Balance Sheet Compon_5
Note 4 - Balance Sheet Components - Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands | Jan. 02, 2021 | Dec. 28, 2019 |
Liability for non-cancelable contracts | $ 8,492 | $ 6,964 |
Other accrued expenses | 8,770 | 8,941 |
Total accrued expenses | 21,411 | 20,591 |
Accrued Liabilities [Member] | ||
Current portion of operating lease liabilities | $ 4,149 | $ 4,686 |
Note 4 - Balance Sheet Compon_6
Note 4 - Balance Sheet Components - Capitalized Software Costs (Details) $ in Thousands | 12 Months Ended |
Jan. 02, 2021USD ($) | |
Cloud based computing implementation costs as of December 28, 2019 | $ 2,543 |
Costs capitalized | 983 |
Amortization | (695) |
Cloud based computing implementation costs as of January 2, 2021 | $ 2,831 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Depreciation, Total | $ 11.8 | $ 11.6 | $ 13.4 |
Property and Equipment Related to Restructuring Plan [Member] | |||
Depreciation, Total | $ 0.4 | $ 0.6 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Jan. 02, 2021 | Dec. 28, 2019 |
Property and Equipment | $ 150,848 | $ 165,220 |
Accumulated depreciation and amortization | (111,182) | (125,990) |
Property and Equipment, Net | 39,666 | 39,230 |
Property, Plant and Equipment, Net | 39,666 | 39,230 |
UNITED STATES | ||
Property and Equipment, Net | 29,440 | 32,313 |
Property, Plant and Equipment, Net | 29,440 | 32,313 |
CHINA | ||
Property and Equipment, Net | 1,537 | 1,683 |
Property, Plant and Equipment, Net | 1,537 | 1,683 |
PHILIPPINES | ||
Property and Equipment, Net | 2,912 | 2,683 |
Property, Plant and Equipment, Net | 2,912 | 2,683 |
TAIWAN, PROVINCE OF CHINA | ||
Property and Equipment, Net | 5,171 | 1,885 |
Property, Plant and Equipment, Net | 5,171 | 1,885 |
JAPAN | ||
Property and Equipment, Net | 476 | 283 |
Property, Plant and Equipment, Net | 476 | 283 |
Other [Member] | ||
Property and Equipment, Net | 130 | 383 |
Property, Plant and Equipment, Net | 130 | 383 |
Foreign Countries [Member] | ||
Property and Equipment, Net | 10,226 | 6,917 |
Property, Plant and Equipment, Net | 10,226 | 6,917 |
Production Equipment and Software [Member] | ||
Property and Equipment | 135,774 | 150,591 |
Leasehold Improvements [Member] | ||
Property and Equipment | 12,913 | 12,517 |
Office Equipment [Member] | ||
Property and Equipment | $ 2,161 | $ 2,112 |
Note 6 - Long-Term Debt (Detail
Note 6 - Long-Term Debt (Details Textual) - USD ($) $ in Thousands | May 17, 2019 | Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 |
Payments of Debt Issuance Costs | $ 0 | $ 2,086 | $ 0 | |
Gain (Loss) on Extinguishment of Debt, Total | 0 | (2,235) | 0 | |
Repayments of Long-term Debt, Total | $ 26,250 | 321,408 | $ 43,759 | |
Credit Agreement, May 17, 2019 [Member] | Revolving Credit Facility [Member] | ||||
Debt Instrument, Term (Year) | 5 years | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 75,000 | |||
Proceeds from Issuance of Debt | 31,500 | |||
Repayments of Debt | 204,400 | |||
Payments of Debt Issuance Costs | $ 2,100 | |||
Gain (Loss) on Extinguishment of Debt, Total | $ 2,200 | |||
Debt Instrument, Interest Rate, Effective Percentage | 1.40% | |||
Line of Credit Facility, Commitment Fee Percentage | 0.20% | |||
Proceeds from Lines of Credit, Total | $ 50,000 | |||
Credit Agreement, May 17, 2019 [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | |||
Credit Agreement, May 17, 2019 [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||
Credit Agreement, May 17, 2019 [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||
Credit Agreement, May 17, 2019 [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | |||
Credit Agreement, May 17, 2019 [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||
Credit Agreement, May 17, 2019 [Member] | Revolving Credit Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||
Credit Agreement, May 17, 2019 [Member] | Secured Term Loan [Member] | ||||
Debt Instrument, Face Amount | $ 175,000 | |||
Debt Instrument, Interest Rate, Effective Percentage | 1.61% | |||
Repayments of Long-term Debt, Total | $ 26,300 | |||
Repayments of Long Term Debt, Accelerated Principal Payments | 13,100 | |||
Credit Agreement, May 17, 2019 [Member] | Secured Term Loan [Member] | Revolving Credit Facility [Member] | ||||
Proceeds from Issuance of Debt | $ 175,000 | |||
Debt Instrument, Periodic Payment, Total | $ 4,400 |
Note 6 - Long-Term Debt - Fair
Note 6 - Long-Term Debt - Fair Value of Long-term Debt (Details) - USD ($) $ in Thousands | Jan. 02, 2021 | Dec. 28, 2019 |
Principal amount | $ 171,875 | $ 148,125 |
Unamortized original issuance discount and debt costs | (1,179) | (1,579) |
Less: Current portion of long-term debt | (12,762) | (21,474) |
Long-term debt, net of current portion and unamortized debt issue costs | $ 157,934 | $ 125,072 |
Note 6 - Long-Term Debt - Inter
Note 6 - Long-Term Debt - Interest Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Contractual interest | $ 3,319 | $ 10,278 | $ 18,600 |
Amortization of original issuance discount and debt costs | 400 | 1,659 | 2,230 |
Total interest expense related to long-term debt | $ 3,719 | $ 11,937 | $ 20,830 |
Note 6 - Long-Term Debt - Expec
Note 6 - Long-Term Debt - Expected Future Principal Payments (Details) $ in Thousands | Jan. 02, 2021USD ($) |
2021 | $ 13,125 |
2022 | 17,500 |
2023 | 17,500 |
2024 | 123,750 |
Long-term Debt, Total | $ 171,875 |
Note 7 - Restructuring (Details
Note 7 - Restructuring (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||
Jan. 02, 2021 | Sep. 26, 2020 | Jun. 27, 2020 | Mar. 28, 2020 | Dec. 28, 2019 | Sep. 28, 2019 | Jun. 29, 2019 | Mar. 30, 2019 | Jan. 02, 2021 | Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | Jun. 30, 2017 | |
Restructuring and Related Costs, Incurred Cost, Total | $ (241) | $ 2,692 | $ 546 | $ 940 | $ (55) | $ 252 | $ 3,126 | $ 1,341 | |||||
Restructuring Charges, Total | $ 3,937 | $ 3,937 | $ 4,664 | $ 17,349 | |||||||||
Q1 2020 Plan [Member] | |||||||||||||
Restructuring and Related Costs, Incurred Cost, Total | 2,000 | ||||||||||||
Q2 2019 Sales Plan [Member] | |||||||||||||
Restructuring and Related Costs, Incurred Cost, Total | 100 | 2,000 | |||||||||||
Restructuring and Related Cost, Cost Incurred to Date | 2,100 | 2,100 | 2,100 | ||||||||||
December 2018 Plan [Member] | |||||||||||||
Restructuring and Related Costs, Incurred Cost, Total | 0 | 0 | 4,800 | ||||||||||
Restructuring and Related Cost, Cost Incurred to Date | 4,800 | 4,800 | 4,800 | ||||||||||
June 2018 Plan [Member] | |||||||||||||
Restructuring and Related Costs, Incurred Cost, Total | 0 | 100 | 4,200 | ||||||||||
Restructuring and Related Cost, Cost Incurred to Date | 4,100 | 4,100 | 4,100 | ||||||||||
June 2017 Plan [Member] | |||||||||||||
Restructuring and Related Costs, Incurred Cost, Total | 21,000 | ||||||||||||
June 2017 Plan [Member] | Minimum [Member] | |||||||||||||
Restructuring and Related Cost, Expected Cost, Total | 21,500 | 21,500 | 21,500 | ||||||||||
June 2017 Plan [Member] | Maximum [Member] | |||||||||||||
Restructuring and Related Cost, Expected Cost, Total | $ 23,500 | $ 23,500 | 23,500 | ||||||||||
June 2017 Plan [Member] | Facility Closing [Member] | |||||||||||||
Restructuring and Related Costs, Incurred Cost, Total | $ 8,400 | ||||||||||||
Restructuring Charges, Total | $ 1,900 | $ 2,700 | |||||||||||
June 2017 Plan [Member] | Hyderabad [Member] | |||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% |
Note 7 - Restructuring - Activi
Note 7 - Restructuring - Activity Related to Restructuring Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Jan. 02, 2021 | Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | ||||
Accrued Restructuring | $ 7,610 | $ 10,680 | $ 2,447 | ||||
Restructuring charges | $ 3,937 | 3,937 | 4,664 | 17,349 | |||
Costs paid or otherwise settled | (2,404) | (7,734) | (9,116) | ||||
Accrued Restructuring | 9,143 | 9,143 | 7,610 | 10,680 | |||
Employee Severance [Member] | |||||||
Accrued Restructuring | [1] | 160 | 1,814 | 1,192 | |||
Restructuring charges | 1,669 | 625 | [1] | 5,696 | [1] | ||
Costs paid or otherwise settled | (1,583) | (2,279) | [1] | (5,074) | [1] | ||
Accrued Restructuring | [1] | 246 | 246 | 160 | 1,814 | ||
Lease Termination and Fixed Assets [Member] | |||||||
Accrued Restructuring | 6,585 | 8,630 | 870 | ||||
Restructuring charges | 1,896 | 2,716 | 7,379 | ||||
Costs paid or otherwise settled | (248) | (4,761) | |||||
Costs paid or otherwise settled | (381) | ||||||
Accrued Restructuring | 8,233 | 8,233 | 6,585 | 8,630 | |||
Software Contracts and Engineering Tools [Member] | |||||||
Accrued Restructuring | [2] | 0 | 218 | 360 | |||
Restructuring charges | 0 | 0 | [2] | 913 | [2] | ||
Costs paid or otherwise settled | 0 | (218) | [2] | (1,055) | [2] | ||
Accrued Restructuring | [2] | 0 | 0 | 0 | 218 | ||
Other Restructuring [Member] | |||||||
Accrued Restructuring | [3] | 865 | 18 | 25 | |||
Restructuring charges | 372 | 1,323 | [3] | 3,361 | [3] | ||
Costs paid or otherwise settled | (573) | (476) | [3] | (3,368) | [3] | ||
Accrued Restructuring | [3] | $ 664 | $ 664 | $ 865 | $ 18 | ||
[1] | Includes employee relocation costs and outplacement costs, and accelerated stock compensation | ||||||
[2] | Includes cancellation of contracts, asset impairments, and accelerated depreciation on certain enterprise resource planning and customer relationship management systems | ||||||
[3] | In fiscal 2018, "Other" includes the abandonment of long-lived assets related to the restructuring of our agreements with a privately-held investee. In fiscal and 2019 and 2020, "Other" included termination fees on the cancellation of certain contracts under the Q2 2019 Sales Plan |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 7 months 6 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 6.50% | ||
Operating Lease, Cost | $ 7.6 | $ 7.7 | $ 8.3 |
Operating Lease Liability for Previously Restructured Facilities | $ 8.2 | ||
Minimum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year | ||
Maximum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term (Year) | 8 years | ||
Lessee, Operating Lease, Option to Extend, Period (Year) | 5 years | ||
Lessee, Operating Lease, Option to Terminate Period (Year) | 1 year |
Note 8 - Leases - Lease Balance
Note 8 - Leases - Lease Balance Classifications Within the Consolidated Balance Sheets and Lease Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Balance | $ 23,591 | ||
Right-of-use assets obtained for new and modified lease contracts during the period | 4,297 | ||
Amortization of right-of-use assets during the period | (5,960) | $ (5,797) | $ 0 |
Adjustments for present value and foreign currency effects | 250 | ||
Balance | 22,178 | 23,591 | |
Balance | 26,124 | ||
Lease liabilities incurred for new lease contracts during the period | 2,646 | ||
Accretion of lease liabilities | 1,629 | ||
Operating cash used by payments on lease liabilities | (7,713) | (8,425) | $ 0 |
Adjustments for present value and foreign currency effects | 369 | ||
Balance | 23,055 | 26,124 | |
Long-term operating lease liabilities, net of current portion | 18,906 | $ 21,438 | |
Accounts Payable and Accrued Liabilities [Member] | |||
Less: Current portion of operating lease liabilities (included in Accrued expenses) | $ (4,149) |
Note 8 - Leases - Maturities of
Note 8 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Jan. 02, 2021 | Dec. 28, 2019 |
2021 | $ 5,615 | |
2022 | 5,378 | |
2023 | 5,057 | |
2024 | 4,861 | |
2025 | 3,552 | |
Thereafter | 3,229 | |
Total lease payments | 27,692 | |
Less: amount representing interest | (4,637) | |
Total lease liabilities | $ 23,055 | $ 26,124 |
Note 9 - Intangible Assets (Det
Note 9 - Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Impairment of Intangible Assets, Finite-lived | $ 0 | $ 0 | $ 12,486 |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 6,321 | $ 6,977 | 11,900 |
Licensing Agreements [Member] | |||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 600 |
Note 9 - Intangible Assets - Fi
Note 9 - Intangible Assets - Finite Lived Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Intangible Assets, gross | $ 138,297 | $ 134,380 | |
Accumulated Amortization | (131,976) | (127,403) | |
Intangible Assets, net | $ 6,321 | $ 6,977 | $ 11,900 |
Developed Technology [Member] | |||
Weighted Average Amortization (Year) | 5 years | 5 years | |
Intangible Assets, gross | $ 110,987 | $ 110,987 | |
Accumulated Amortization | (109,162) | (105,594) | |
Intangible Assets, net | $ 1,825 | $ 5,393 | |
Customer Relationships [Member] | |||
Weighted Average Amortization (Year) | 5 years 9 months 18 days | 5 years 9 months 18 days | |
Intangible Assets, gross | $ 22,934 | $ 22,934 | |
Accumulated Amortization | (22,281) | (21,400) | |
Intangible Assets, net | $ 653 | $ 1,534 | |
Licensed Technology [Member] | |||
Weighted Average Amortization (Year) | 6 years 7 months 6 days | 5 years | |
Intangible Assets, gross | $ 4,376 | $ 459 | |
Accumulated Amortization | (533) | (409) | |
Intangible Assets, net | $ 3,843 | $ 50 |
Note 9 - Intangible Assets - Am
Note 9 - Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Amortization of intangible assets | $ 4,573 | $ 13,613 | $ 17,967 |
Research and Development Expense [Member] | |||
Amortization of intangible assets | 124 | 55 | 277 |
Amortization of Acquired Intangible Assets [Member] | |||
Amortization of intangible assets | $ 4,449 | $ 13,558 | $ 17,690 |
Note 9 - Intangible Assets - _2
Note 9 - Intangible Assets - Finite Lived Intangible Assets Future Amortization Expense (Details) - USD ($) $ in Thousands | Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 |
2021 | $ 2,877 | ||
2022 | 876 | ||
2023 | 600 | ||
2024 | 501 | ||
2025 | 501 | ||
Thereafter | 966 | ||
Total | $ 6,321 | $ 6,977 | $ 11,900 |
Note 10 - Stock-Based Compens_3
Note 10 - Stock-Based Compensation Plans (Details Textual) $ / shares in Units, $ in Thousands | May 31, 2012shares | May 31, 2012shares | Jan. 02, 2021USD ($)shares | Sep. 26, 2020 | Sep. 26, 2020 | Jun. 27, 2020 | Mar. 28, 2020USD ($) | Mar. 30, 2019USD ($) | Jan. 02, 2021USD ($)$ / sharesshares | Dec. 28, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($) | Dec. 29, 2018USD ($)$ / shares |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |||||||||||
Share-based Payment Arrangement, Expense | $ 40,372 | $ 18,899 | $ 13,646 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | shares | 0 | 0 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 21,500 | $ 17,800 | $ 6,500 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 2.73 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 6.62 | $ 1.69 | $ 1.50 | |||||||||
Employee and Director Stock Options [Member] | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 1,000 | $ 1,000 | ||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 8 months 12 days | |||||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||||
Share-based Payment Arrangement, Expense | $ 2,000 | $ 2,400 | $ 4,100 | |||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 26.48 | |||||||||||
Chief Executive Officer [Member] | ||||||||||||
Share-based Payment Arrangement, Expense | $ 1,400 | |||||||||||
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||
Share-based Payment Arrangement, Expense | $ 16,600 | 10,300 | 8,000 | |||||||||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 44,300 | $ 44,300 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Of Grants Tested Each Year | 50.00% | |||||||||||
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-based Payment Arrangement, Expense | $ 1,800 | |||||||||||
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Of Market Condition Achieved | 75.00% | |||||||||||
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 100.00% | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Of Market Condition Achieved | 55.00% | |||||||||||
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Of Market Condition Achieved | 25.00% | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 0.00% | |||||||||||
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Minimum [Member] | TSR Relative To PHLX Semiconductor Sector Index, 75th Percentile [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 250.00% | |||||||||||
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Minimum [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Of Market Condition Achieved | 25.00% | |||||||||||
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Maximum [Member] | TSR Relative To PHLX Semiconductor Sector Index, 75th Percentile [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 200.00% | |||||||||||
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Maximum [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Of Market Condition Achieved | 75.00% | |||||||||||
Executive Officer [Member] | Performance Shares [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||
Share-based Payment Arrangement, Expense | $ 20,800 | $ 5,700 | $ 900 | |||||||||
Executive Officer [Member] | Performance Shares [Member] | TSR Relative To PHLX Semiconductor Sector Index, 75th Percentile [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 100.00% | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Of Market Condition Achieved | 50.00% | |||||||||||
Executive Officer [Member] | Performance Shares [Member] | TSR Relative To PHLX Semiconductor Sector Index, 25th Percentile [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 0.00% | |||||||||||
Executive Officer [Member] | Performance Shares [Member] | Minimum [Member] | TSR Relative To PHLX Semiconductor Sector Index, 75th Percentile [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 200.00% | |||||||||||
Executive Officer [Member] | Performance Shares [Member] | Minimum [Member] | TSR Relative To PHLX Semiconductor Sector Index, 25th Percentile [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 0.00% | |||||||||||
Executive Officer [Member] | Performance Shares [Member] | Maximum [Member] | TSR Relative To PHLX Semiconductor Sector Index, 75th Percentile [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 250.00% | |||||||||||
Executive Officer [Member] | Performance Shares Granted in 2018 [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 33.30% | 200.00% | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Of Market Condition Achieved | 75.00% | 75.00% | 75.00% | |||||||||
Executive Officer [Member] | Performance Shares Granted in 2018 [Member] | Minimum [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 250.00% | |||||||||||
Executive Officer [Member] | Performance Shares Granted in 2018 [Member] | Maximum [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Based on Market Conditions | 200.00% | |||||||||||
The2012 ESPP [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | shares | 3 | 3 | ||||||||||
Share-based Compensation Arrangement By Share-based Payment Award, Maximum, Annual Contribution Per Employee, Percent | 10.00% | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | shares | 1,200,000 | 1,200,000 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number Of Shares, Transferred Out (in shares) | shares | 2,000,000 | |||||||||||
The 2013 Incentive Plan [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | shares | 11,600,000 | 11,600,000 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Share Ratio | 2.2 | 2.2 |
Note 10 - Stock-Based Compens_4
Note 10 - Stock-Based Compensation Plans - Stock-based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 31, 2018 | |
Total stock-based compensation | $ 40,372 | $ 18,899 | $ 13,646 |
Cost of Sales [Member] | |||
Total stock-based compensation | 3,179 | 1,422 | 940 |
Research and Development Expense [Member] | |||
Total stock-based compensation | 10,124 | 5,640 | 4,357 |
Selling, General and Administrative Expenses [Member] | |||
Total stock-based compensation | $ 27,069 | $ 11,837 | $ 8,349 |
Note 10 - Stock-Based Compens_5
Note 10 - Stock-Based Compensation Plans - Share-based Payment Award Stock Options Valuation Assumptions (Details) | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Expected volatility, minimum | 39.87% | ||
Risk-free interest rate, minimum | 2.29% | ||
Expected term (years), minimum (Year) | 6 years | 4 years 29 days | |
Weighted average expected volatility | 31.60% | ||
Weighted average expected volatility | 31.60% | ||
Weighted average risk-free interest rate | 2.51% | ||
Weighted average risk-free interest rate | 2.51% | ||
Expected term (in months) (Year) | 6 years | 4 years 29 days | |
Employee Stock Purchase Plan [Member] | |||
Expected term (years), minimum (Year) | 6 years | ||
Weighted average expected volatility | 48.20% | ||
Weighted average expected volatility | 48.20% | ||
Weighted average risk-free interest rate | 0.89% | ||
Weighted average risk-free interest rate | 0.89% | ||
Expected term (in months) (Year) | 6 years |
Note 10 - Stock-Based Compens_6
Note 10 - Stock-Based Compensation Plans - Schedule of Share Based Compensation Stock Options Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Jan. 02, 2021 | Dec. 28, 2019 | |
Balance (in shares) | 3,332 | |
Balance (in dollars per share) | $ 6.16 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 |
Granted (in dollars per share) | $ 0 | |
Exercised (in shares) | (1,057) | |
Exercised (in dollars per share) | $ 5.70 | |
Forfeited or expired (in shares) | (75) | |
Forfeited or expired (in dollars per share) | $ 5.69 | |
Balance (in shares) | 2,200 | 3,332 |
Balance (in dollars per share) | $ 6.39 | $ 6.16 |
Vested and expected to vest (in shares) | 2,200 | |
Vested and expected to vest (in dollars per share) | $ 6.39 | |
Vested and expected to vest (Year) | 3 years 10 months 9 days | |
Vested and expected to vest | $ 86,739 | |
Exercisable (in shares) | 1,589 | |
Exercisable (in dollars per share) | $ 6.40 | |
Exercisable (Year) | 3 years 7 months 28 days | |
Exercisable, January 2, 2021 | $ 62,661 |
Note 10 - Stock-Based Compens_7
Note 10 - Stock-Based Compensation Plans - Schedule of Nonvested Restricted Stock Units Activity (Details) - $ / shares shares in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 6.62 | $ 1.69 | $ 1.50 |
Restricted Stock Units (RSUs) [Member] | |||
Balance (in shares) | 3,611 | ||
Balance (in dollars per share) | $ 11.50 | ||
Granted (in shares) | 984 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 26.48 | ||
Vested (in shares) | (1,424) | ||
Vested (in dollars per share) | $ 10.72 | ||
Forfeited or expired (in shares) | (173) | ||
Forfeited or expired (in dollars per share) | $ 12.03 | ||
Balance (in shares) | 2,998 | 3,611 | |
Balance (in dollars per share) | $ 16.76 | $ 11.50 |
Note 10 - Stock-Based Compens_8
Note 10 - Stock-Based Compensation Plans - Assumptions Used at Grant Date In the Valuation of RUSs (Details) | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Weighted average expected volatility | 31.60% | ||
Weighted average risk-free interest rate | 2.51% | ||
Expected term (years), minimum (Year) | 6 years | 4 years 29 days | |
Restricted Stock Units (RSUs) [Member] | |||
Weighted average expected volatility | 42.38% | ||
Weighted average risk-free interest rate | 1.40% | ||
Expected term (years), minimum (Year) | 3 years | 3 years | |
Restricted Stock Units (RSUs) [Member] | Minimum [Member] | |||
Weighted average expected volatility | 40.15% | 41.06% | |
Weighted average risk-free interest rate | 1.66% | 2.71% | |
Expected term (years), minimum (Year) | 3 years | ||
Restricted Stock Units (RSUs) [Member] | Maximum [Member] | |||
Weighted average expected volatility | 41.10% | 41.74% | |
Weighted average risk-free interest rate | 2.55% | 2.87% | |
Expected term (years), minimum (Year) | 3 years 1 month 28 days |
Note 10 - Stock-Based Compens_9
Note 10 - Stock-Based Compensation Plans - Share Based Compensation Performance Shares Award Outstanding (Details) - Performance Shares [Member] shares in Thousands | 12 Months Ended |
Jan. 02, 2021$ / sharesshares | |
Balance, Shares (in shares) | 1,163 |
Balance, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 14.49 |
Granted, Shares (in shares) | 349 |
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 32.23 |
Effect of vesting multiplier, Shares (in shares) | 472 |
Vested, Shares (in shares) | (963) |
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 15.63 |
Canceled, Shares (in shares) | 0 |
Balance, Shares (in shares) | 1,021 |
Balance, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 20.42 |
Note 11 - Common Stock Repurc_2
Note 11 - Common Stock Repurchase Program (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jan. 02, 2021 | Mar. 28, 2020 | Jan. 02, 2021 | Feb. 14, 2020 | |
Stock Repurchase Program, Authorized Amount | $ 40,000 | |||
Treasury Stock, Shares, Acquired (in shares) | 400 | 0 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 15,000 | $ 14,989 | ||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 38.98 | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 12,000 | $ 12,000 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Dec. 28, 2018 | Dec. 29, 2017 | Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | Dec. 31, 2017 | Dec. 30, 2017 |
Undistributed Earnings of Foreign Subsidiaries | $ 3,100 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 44,832 | 55,737 | $ 56,962 | $ 58,285 | $ 58,377 | $ 58,377 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 53,600 | ||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 9,100 | ||||||
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | $ 19 | 628 | 1,084 | $ 759 | |||
Unrecognized Tax Benefits, Increase Resulting from Acquisition | $ 334 | 1,084 | |||||
Liability for Uncertainty in Income Taxes, Current | 42,500 | ||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 2,700 | ||||||
Significant Change in Unrecognized Tax Benefits Is Reasonably Possible, Amount of Associated Income, Tax Penalties and Interest Accrued | 400 | ||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 3,100 | ||||||
Other Noncurrent Liabilities [Member] | |||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 22,300 | $ 24,600 | |||||
Domestic Tax Authority [Member] | |||||||
Operating Loss Carryforwards, Total | 359,500 | ||||||
Tax Credit Carryforward, Amount | $ 51,700 | ||||||
Open Tax Year | 2017 | ||||||
State and Local Jurisdiction [Member] | |||||||
Operating Loss Carryforwards, Total | $ 147,600 | ||||||
Tax Credit Carryforward, Amount | $ 64,900 | ||||||
Open Tax Year | 2016 | ||||||
State and Local Jurisdiction [Member] | Non Expiration [Member] | |||||||
Tax Credit Carryforward, Amount | $ 64,500 | ||||||
Foreign Tax Authority [Member] | |||||||
Open Tax Year | 2013 | ||||||
Foreign Tax Authority [Member] | Philippines Tax Authority [Member] | |||||||
Income Tax Examination, Year under Examination | 2016 2017 | ||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | |||||||
Income Tax Examination, Year under Examination | 2013 2014 2015 2016 2017 |
Note 12 - Income Taxes - Income
Note 12 - Income Taxes - Income Before Income Tax Domestic and Foreign (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Domestic | $ 11,772 | $ 33,417 | $ (8,274) |
Foreign | 36,684 | 11,648 | (15,695) |
Income (loss) before income taxes | $ 48,456 | $ 45,065 | $ (23,969) |
Note 12 - Income Taxes - Compon
Note 12 - Income Taxes - Components of Income Tax Expense Benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Federal | $ 54 | $ 499 | $ 536 |
State | 68 | 45 | 38 |
Foreign | 1,025 | 1,345 | 1,869 |
Current Income Tax Expense (Benefit), Total | 1,147 | 1,889 | 2,443 |
Federal | 0 | 0 | 0 |
State | 0 | 0 | 0 |
Foreign | (83) | (317) | (90) |
Deferred Income Tax Expense (Benefit), Total | (83) | (317) | (90) |
Income tax expense | $ 1,064 | $ 1,572 | $ 2,353 |
Note 12 - Income Taxes - Effect
Note 12 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Statutory federal rate | 21.00% | 21.00% | (21.00%) |
State taxes, net | (4.00%) | 3.00% | (6.00%) |
Research and development credits | 3.00% | (3.00%) | 5.00% |
Stock compensation | (23.00%) | (11.00%) | 8.00% |
Foreign rate differential | (12.00%) | (2.00%) | 20.00% |
Foreign dividends | 15.00% | 0.00% | 0.00% |
Foreign withholding taxes | 3.00% | 3.00% | 5.00% |
162(m) executive compensation limitation | 13.00% | 5.00% | 2.00% |
Other deferred tax asset adjustment | 3.00% | 0.00% | 13.00% |
Valuation allowance | (13.00%) | (19.00%) | (11.00%) |
Change in uncertain tax benefit accrual | 2.00% | 0.00% | 2.00% |
Other | 0.00% | 1.00% | 3.00% |
Effective income tax rate | 2.00% | 4.00% | 10.00% |
Note 12 - Income Taxes - Deferr
Note 12 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 02, 2021 | Dec. 28, 2018 |
Accrued expenses and reserves | $ 5,464 | $ 3,527 |
Stock-based and deferred compensation | 3,851 | 2,812 |
Lease liability | 4,190 | 4,369 |
Intangible assets | 10,082 | 12,294 |
Fixed assets | 351 | 256 |
Net operating loss carry forwards | 87,443 | 86,899 |
Tax credit carry forwards | 83,534 | 90,339 |
Capital loss carry forwards | 4,018 | 4,235 |
Other | 934 | 1,059 |
Total deferred tax assets | 199,867 | 205,790 |
Less: valuation allowance | (192,478) | (198,499) |
Net deferred tax assets | 7,389 | 7,291 |
Fixed assets | 2,809 | 2,620 |
Unremitted earnings | 1,746 | 0 |
Deferred revenue | 64 | 434 |
Right-of-use asset | 3,939 | 3,759 |
Total deferred tax liabilities | 8,558 | 6,813 |
Net deferred taxes liabilities | $ (1,169) | |
Net deferred taxes assets | $ 478 |
Note 12 - Income Taxes - Valuat
Note 12 - Income Taxes - Valuation Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Balance | $ 198,499 | $ 207,108 | $ 209,691 |
Charged (Credit) to costs and expenses | (6,021) | (8,609) | (2,583) |
Charged (credit) to other accounts | 0 | 0 | 0 |
Balance | $ 192,478 | $ 198,499 | $ 207,108 |
Note 12 - Income Taxes - Unreco
Note 12 - Income Taxes - Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward (Details) - USD ($) $ in Thousands | Dec. 29, 2017 | Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 |
Balance | $ 56,962 | $ 58,285 | $ 58,377 | |
Additions based on tax positions related to the current year | 548 | 238 | 389 | |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | $ 19 | 628 | 1,084 | 759 |
Reduction for tax positions of prior years | 0 | (213) | (5) | |
Reduction as a result of lapse of applicable statute of limitations | (2,401) | (2,432) | (1,235) | |
Balance at December 29, 2018 | $ 44,832 | $ 55,737 | $ 56,962 | $ 58,285 |
Note 13 - Employee Benefit Pl_2
Note 13 - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 2.4 | $ 0.8 | $ 0.6 |
Labor And Related Expense, Incentive Compensation | $ 7.9 | $ 5.8 | $ 5.9 |
Note 14 - Contingencies (Detail
Note 14 - Contingencies (Details Textual) $ in Millions | Dec. 19, 2018USD ($) |
Loss Contingency, Damages Sought, Value | $ 138 |
Note 15 - Quarterly Financial_3
Note 15 - Quarterly Financial Data (Unaudited) - Schedule of Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 02, 2021 | Sep. 26, 2020 | Jun. 27, 2020 | Mar. 28, 2020 | Dec. 28, 2019 | Sep. 28, 2019 | Jun. 29, 2019 | Mar. 30, 2019 | Jan. 02, 2021 | Dec. 28, 2019 | Dec. 29, 2018 | |
Revenue | $ 107,173 | $ 103,042 | $ 100,589 | $ 97,316 | $ 100,237 | $ 103,469 | $ 102,296 | $ 98,091 | $ 408,120 | $ 404,093 | $ 398,799 |
Gross margin | 64,861 | 62,306 | 60,577 | 57,562 | 59,293 | 61,439 | 60,038 | 57,652 | 245,306 | 238,422 | 219,439 |
Restructuring and Related Costs, Incurred Cost, Total | (241) | 2,692 | 546 | 940 | (55) | 252 | 3,126 | 1,341 | |||
Net income | $ 15,989 | $ 12,607 | $ 10,629 | $ 8,167 | $ 13,987 | $ 13,539 | $ 8,559 | $ 7,408 | $ 47,392 | $ 43,493 | $ (26,322) |
Net income per share - basic (in dollars per share) | $ 0.12 | $ 0.09 | $ 0.08 | $ 0.06 | $ 0.10 | $ 0.10 | $ 0.06 | $ 0.06 | $ 0.35 | $ 0.33 | $ (0.21) |
Net income per share - diluted (in dollars per share) | $ 0.11 | $ 0.09 | $ 0.08 | $ 0.06 | $ 0.10 | $ 0.10 | $ 0.06 | $ 0.05 | $ 0.34 | $ 0.32 | $ (0.21) |
Note 16 - Subsequent Event (Det
Note 16 - Subsequent Event (Details Textual) - USD ($) $ in Millions | Jan. 03, 2021 | Feb. 14, 2020 |
Stock Repurchase Program, Authorized Amount | $ 40 | |
Subsequent Event [Member] | ||
Stock Repurchase Program, Authorized Amount | $ 60 |