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Related Parties
 6 Months Ended
Jun. 30, 2013
Related Parties [Abstract]  
Related Parties [TextBlock]

NOTE N – Related Parties

 

       The Company conducts business with two related companies, Lite-On Semiconductor Corporation and its subsidiaries and affiliates (collectively, “LSC”) and Keylink International (B.V.I.) Inc. and its subsidiaries and affiliates (collectively, “Keylink”). LSC owned approximately 18% of the Company's outstanding Common Stock as of June 30, 2013. Keylink is the Company's 5% joint venture partner in two of the Company's Shanghai manufacturing facilities.

       The Audit Committee of the Company's Board reviews all related party arrangements for potential conflict of interest situations on an ongoing basis, in accordance with such procedures as the Audit Committee may adopt from time to time.

 

Lite-On Semiconductor Corporation – During both the six months ended June 30, 2013 and 2012, the Company sold products to LSC totaling approximately 0% of the Company's net sales. For the six months ended June 30, 2013 and 2012, approximately 2% and 3%, respectively, of the Company's net sales were from semiconductor products purchased from LSC for subsequent sale, making LSC one of the Company's largest suppliers.

 

       Net sales to, and purchases from, LSC are as follows (in thousands):

  Three Months Ended  Six Months Ended
  June 30,   June 30,
  2013  2012  2013  2012
Net sales$ 296 $ 274 $ 399 $ 321
Purchases$ 9,650 $ 9,001 $ 17,159 $ 16,419

Keylink International (B.V.I.) Inc. – During the six months ended June 30, 2013 and 2012, the Company sold products to Keylink totaling approximately 1% and 3% of the Company's net sales, respectively. For the six months ended June 30, 2013 and 2012, approximately 0% and 1%, respectively, of the Company's net sales were from semiconductor products purchased from Keylink for subsequent sale. In addition, two of the Company's subsidiaries in China lease their manufacturing facilities from, and subcontract a portion of their manufacturing process (including, but not limited to, metal plating and environmental services) to Keylink. The Company also pays a consulting fee to Keylink. The aggregate amounts for these services for the six months ended June 30, 2013 and 2012 were approximately $9 million and $8 million, respectively.

 

Net sales to, and purchases from, Keylink are as follows (in thousands):

  Three Months Ended  Six Months Ended
  June 30,   June 30,
  2013  2012  2013  2012
Net sales$ 1,561 $ 4,971 $ 5,209 $ 9,443
Purchases$ 2,138 $ 2,323 $ 3,666 $ 4,127

Accounts receivable from, and accounts payable to, LSC and Keylink are as follows (in thousands):

   June 30,   December 31,
   2013  2012
Accounts receivable      
LSC $ 293 $ 204
Keylink   6,235   10,457
  $ 6,528 $ 10,661
Accounts payable      
LSC $ 7,531 $ 5,308
Keylink   5,555   5,095
  $ 13,086 $ 10,403