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Strategic Technology Transactions, Goodwill and Purchased Intangible Assets (Tables)
12 Months Ended
Dec. 28, 2013
Goodwill And Intangible Assets Disclosure [Abstract]  
Allocation of Purchase Price
The allocation of purchase price to the acquired assets and assumed liabilities was as follows (in thousands):

 

Current assets

   $ 38,058  

Fixed assets

     1,314  

Other assets

     7,395  

Intangible assets

     33,138  

Goodwill

     10,930  
  

 

 

 

Total assets acquired

     90,835  

Liabilities assumed

     (33,692
  

 

 

 

Net assets acquired

   $ 57,143  
  

 

 

Allocation of Intangible Assets

The allocation of the intangible assets is as follows (in thousands):

 

     Estimated
Fair Value
     Average
Useful Life

Complete technology

   $ 21,399      8 years

Customer relationships

     7,475      8 years

Covenants not-to-compete

     325      3 years

Trade name

     3,939      Indefinite
  

 

 

    
   $ 33,138     
  

 

 

    
Summary of Pro Forma Financial Information

The following table summarizes the unaudited pro forma financial information (in thousands, except per share data):

 

     Twelve Months Ended  
     December 28,
2013
    December 29,
2012
    December 31,
2011 (1)
 
     Reported     Pro Forma     Reported     Pro Forma     Reported      Pro Forma  

Net sales

   $ 247,300     $ 247,300     $ 221,162     $ 306,043     $ 308,968      $ 410,063  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Net income (loss)

   $ (33,418   $ (33,418   $ (12,243   $ (12,296   $ 15,719      $ 21,027  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Net income (loss) per share:

             

Basic

   $ (1.34   $ (1.34   $ (0.50   $ (0.50   $ 0.65      $ 0.87  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Diluted

   $ (1.34   $ (1.34   $ (0.50   $ (0.50   $ 0.64      $ 0.86  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 
Changes in Carrying Value of Goodwill by Reportable Segment

Changes in the carrying value of goodwill by reportable segment during the years ended December 28, 2013 and December 29, 2012 were as follows (in thousands):

 

     Semiconductor
Equipment
     Microwave
Communications
     Total
Goodwill
 

Balance, December 31, 2011

   $ 54,872      $ 3,188      $ 58,060  

Impact of currency exchange

     648        48        696  
  

 

 

    

 

 

    

 

 

 

Balance, December 29, 2012

     55,520        3,236        58,756  

Additions net of adjustments

     10,930               10,930  

Impact of currency exchange

     1,533        94        1,627  
  

 

 

    

 

 

    

 

 

 

Balance, December 28, 2013

   $ 67,983      $ 3,330      $ 71,313  
  

 

 

    

 

 

    

 

 

Purchased Intangible Assets, Subject to Amortization

Our purchased intangible assets, subject to amortization, were as follows (in thousands):

 

     December 28, 2013      December 29, 2012  
     Gross Carrying
Amount
     Accumulated
Amortization
     Remaining
Useful Life
     Gross Carrying
Amount
     Accumulated
Amortization
 

Rasco technology

   $ 33,689      $ 21,319        3.0 years       $ 32,399      $ 16,452  

Ismeca technology

     29,915        3,809        7.0 years                 

Duma technology

     864        408        1.6 years         864        120  
  

 

 

    

 

 

       

 

 

    

 

 

 
   $ 64,468      $ 25,536         $ 33,263      $ 16,572