XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 26, 2021
Jun. 27, 2020
Jun. 26, 2021
Jun. 27, 2020
Net sales $ 244,803 $ 144,084 $ 470,291 $ 283,005
Cost and expenses:        
Cost of sales (1) [1] 140,146 83,127 263,429 165,964
Research and development 23,423 20,424 46,575 42,892
Selling, general and administrative 32,834 30,949 65,458 64,301
Amortization of purchased intangible assets 9,045 9,527 18,289 19,065
Restructuring charges 617 585 1,957 988
Impairment charges 0 0 0 3,949
Gain on sale of PCB Test business (2) [2] (75,779) 0 (75,664) 0
Costs and Expenses, Total 130,286 144,612 320,044 297,159
Income (loss) from operations 114,517 (528) 150,247 (14,154)
Other (expense) income:        
Interest expense (1,831) (3,456) (4,406) (7,883)
Interest income 94 21 144 168
Foreign transaction loss (25) (640) (287) (1,044)
Loss on extinguishment of debt 0 0 (1,761) 0
Income (loss) from continuing operations before taxes 112,755 (4,603) 143,937 (22,913)
Income tax provision (benefit) 17,659 137 21,234 (855)
Income (loss) from continuing operations 95,096 (4,740) 122,703 (22,058)
Income from discontinued operations 0 0 0 42
Net income (loss) $ 95,096 $ (4,740) $ 122,703 $ (22,016)
Basic:        
Income (loss) from continuing operations (in dollars per share) $ 1.96 $ (0.11) $ 2.66 $ (0.53)
Income from discontinued operations (in dollars per share) 0 0 0 0.00
Net income (loss) (in dollars per share) 1.96 (0.11) 2.66 (0.53)
Diluted:        
Income (loss) from continuing operations (in dollars per share) 1.92 (0.11) 2.58 (0.53)
Income from discontinued operations (in dollars per share) 0 0 0 0.00
Net income (loss) (in dollars per share) $ 1.92 $ (0.11) $ 2.58 $ (0.53)
Weighted average shares used in computing income (loss) per share:        
Basic (in shares) 48,555 41,844 46,155 41,673
Diluted (in shares) 49,474 41,844 47,478 41,673
Cash dividend, per share (in dollars per share) $ 0 $ 0 $ 0 $ 0.06
[1] Excludes amortization of $7,043 and $7,256 for the three months ended June 26, 2021 and June 27, 2020, respectively, and $14,144 and $14,522 for the six months ended June 26, 2021 and June 27, 2020, respectively.
[2] On June 24, 2021 we completed the divestment of our PCB Test business. The divestment of this business did not qualify for presentation as discontinued operations and the results of the PCB Test business are included in continuing operations for all periods presented. See Note 12, “Business Divestiture and Discontinued Operations” for additional information on this transaction and financial statement presentation.