Financial Information by Quarter (Unaudited)

12 Months Ended

Dec. 26, 2020

Quarterly Financial Information Disclosure [Abstract]

Financial Information by Quarter (Unaudited)

Financial Information by Quarter (Unaudited)

The following table sets forth the Company’s unaudited quarterly consolidated statements of operations data for 2020 and 2019. The data has been prepared on the same basis as the audited consolidated financial statements and related notes included in this report. The table includes all necessary adjustments, consisting only of normal recurring adjustments that the Company considers necessary for a fair presentation of this data.

	For the Three Months Ended (Unaudited)
	2020								2019
	Dec. 26		Sep. 26		Jun. 27		Mar. 28		Dec. 28		Sep. 28		Jun. 29		Mar. 30
	(In thousands, except per share data)
Revenue:
Product	$	267,226	$	261,906	$	261,227	$	255,192	$	307,861	$	253,754	$	226,866	$	223,007
Services	86,299		78,305		70,360		75,081		76,706		71,587		69,384		69,700
Total revenue	353,525		340,211		331,587		330,273		384,567		325,341		296,250		292,707
Cost of revenue:
Cost of product	178,153		185,001		186,519		201,792		213,536		186,205		177,501		157,817
Cost of services	44,724		38,100		36,599		40,695		38,543		34,866		36,831		36,676
Amortization of intangible assets	4,611		7,287		8,721		8,628		8,437		7,796		8,098		8,252
Acquisition and integration costs	—		43		750		1,035		7,238		8,447		10,700		2,064
Restructuring and related	(106)		1,504		1,591		1,157		5,407		1,198		1,864		21,466
Total cost of revenue	227,382		231,935		234,180		253,307		273,161		238,512		234,994		226,275
Gross profit	126,143		108,276		97,407		76,966		111,406		86,829		61,256		66,432
Amortization of intangible assets	4,745		4,696		4,585		4,555		6,617		6,861		6,745		7,057
Acquisition and integration costs	(265)		1,045		3,344		9,222		11,011		11,962		12,164		7,134
Restructuring and related	7,230		6,679		5,097		5,580		18,024		2,168		3,471		17,188
Other operating expenses	121,209		122,773		129,007		134,489		136,625		135,125		147,260		146,741
Total operating expenses	132,919		135,193		142,033		153,846		172,277		156,116		169,640		178,120
Loss from operations	(6,776)		(26,917)		(44,626)		(76,880)		(60,871)		(69,287)		(108,384)		(111,688)
Other income (expense), net	(2,043)		(7,620)		(14,374)		(21,452)		(5,886)		(13,932)		(3,887)		(9,720)
Loss before income taxes	(8,819)		(34,537)		(59,000)		(98,332)		(66,757)		(83,219)		(112,271)		(121,408)
Provision for (benefit from) income taxes	1,105		1,359		2,635		936		(163)		1,548		1,385		193
Net loss	$	(9,924)	$	(35,896)	$	(61,635)	$	(99,268)	$	(66,594)	$	(84,767)	$	(113,656)	$	(121,601)
Net loss per common share
Basic	$	(0.05)	$	(0.19)	$	(0.33)	$	(0.55)	$	(0.37)	$	(0.47)	$	(0.64)	$	(0.69)
Diluted	$	(0.05)	$	(0.19)	$	(0.33)	$	(0.55)	$	(0.37)	$	(0.47)	$	(0.64)	$	(0.69)

The Company operates and reports financial results on a fiscal year of 52 or 53 weeks ending on the last Saturday of December in each year. Accordingly, fiscal years 2020 and 2019 were 52-week years that ended on December 26, 2020, and December 28, 2019 respectively. The quarters for fiscal years 2020 and 2019 were 13-week quarters.

In December of 2018, the Company implemented a restructuring initiative (the “2018 Restructuring Plan”) as part of a comprehensive review of the Company's operations and ongoing integration activities in order to optimize resources for future growth, improve efficiencies and address redundancies following the Acquisition. These integration initiatives and restructuring initiatives under the 2018 Restructuring Plan were substantially completed in 2019. During 2020, the Company implemented a new restructuring initiative (the "2020 Restructuring Plan") that was primarily intended to reduce costs and consolidate its operations. As of December 26, 2020, the identified cost reduction initiatives under the 2020 Restructuring Plan were substantially completed For more information on the Company's restructuring plans, see Note 10, “Restructuring and Other Related Costs” to the Notes to Consolidated Financial Statements.

Effective December 30, 2018, the Company adopted Topic 842, using the alternative modified transition method. Results for the reporting periods beginning December 30, 2018 are presented under Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with the Company's historical accounting under ASC Topic 840, “Leases.” The company incurred lease impairment costs included in restructuring expenses.

Effective December 29, 2019, the Company adopted Topic 326 on a modified retrospective basis through a cumulative-effect adjustment at the beginning of the first quarter of 2020. Results for the reporting periods beginning December 29, 2019 are presented under Topic 326, while prior period amounts are not adjusted.