Supplemental Balance Sheet Information

6 Months Ended

Jun. 30, 2012

Supplemental Balance Sheet Information [Abstract]

SUPPLEMENTAL BALANCE SHEET INFORMATION

NOTE 5 SUPPLEMENTAL BALANCE SHEET INFORMATION

Inventories

Inventories that are expected to be sold within one year are classified as current inventories and are included in inventories in the accompanying consolidated balance sheets. Such inventories were as follows:

(In thousands)	June  30, 2012		December  31, 2011
Raw materials and purchased parts	$	65,117	$	65,054
Work in process		18,619		19,257
Finished goods		24,982		28,657
	$	108,718	$	112,968

Accrued Warranty Obligations

Unless otherwise stated in the Company’s product literature or in its agreements with customers, products sold by the Company’s PPT Division generally carry a one-year warranty from the original invoice date on all product materials and workmanship, other than filters and gratings products, which generally carry a 90-day warranty. Products of this division sold to original equipment manufacturer (OEM) customers generally carry longer warranties, typically 15 to 19 months. Products sold by the Company’s Lasers Division carry warranties that vary by product and product component, but that generally range from 90 days to two years. In certain cases, such warranties for Lasers Division products are limited by either a set time period or a maximum amount of usage of the product, whichever occurs first. Products sold by the Company’s Ophir Division generally carry a one-year warranty, except for laser beam profilers and dental CAD/CAM scanners, which generally carry a two-year warranty. Defective products will be either repaired or replaced, generally at the Company’s option, upon meeting certain criteria. The Company accrues a provision for the estimated costs that may be incurred for warranties relating to a product (based on historical experience) as a component of cost of sales. Short-term accrued warranty obligations, which expire within one year, are included in accrued expenses and other current liabilities and long-term warranty obligations are included in deferred income taxes and other liabilities in the accompanying consolidated balance sheets. Short-term warranty obligations were $3.9 million and $4.3 million as of June 30, 2012 and December 31, 2011, respectively. As of June 30, 2012 and December 31, 2011, the amounts accrued for long-term warranty obligations were not material.

The activity in accrued warranty obligations was as follows:

	Six Months Ended
(In thousands)	June 30, 2012			July 2, 2011
Balance at beginning of year	$	4,466		$	4,105
Additions charged to cost of sales		1,290			1,862
Additions from acquisitions		21			—
Warranty claims		(1,749	)		(1,936	)
Balance at end of period	$	4,028		$	4,031

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities were as follows:

(In thousands)	June 30, 2012		December 31, 2011
Deferred revenue	$	11,034	$	12,383
Accrued and deferred tax liabilities		6,397		4,379
Deferred lease liability		5,148		5,201
Short-term accrued warranty obligations		3,889		4,342
Other		11,159		13,495
	$	37,627	$	39,800

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consisted of the following:

(In thousands)	June 30, 2012			December 31, 2011
Cumulative foreign currency translation losses	$	(7,684	)	$	(5,804	)
Unrecognized net pension losses		(919	)		(1,005	)
Unrealized gains on marketable securities		713			820
	$	(7,890	)	$	(5,989	)