XML 40 R26.htm IDEA: XBRL DOCUMENT v3.4.0.3
Segment Information
 12 Months Ended
Apr. 03, 2016
Segment Reporting [Abstract]  
Segment Information
Segment Information
The Chief Operating Decision Maker is the Company’s President and Chief Executive Officer.
The Company's reportable segments include the following:
•
Communications segment: includes clock and timing solutions, flow-control management devices including Serial RapidIO® switching solutions, multi-port products, telecommunications products, high-speed static random access memory, first in and first out, digital logic, radio frequency, and frequency control solutions.
•
Computing, Consumer and Industrial segment: includes clock generation and distribution products, high-performance server memory interfaces, PCI Express switching solutions, power management solutions, signal integrity products, and sensing products for mobile, automotive and industrial solutions.
The Company completed the acquisition of ZMDI in December 2015 and is in the process of integrating the ZMDI business into the Company's reporting segment. During fiscal 2016, the Company renamed its Computing and Consumer reportable segment to Computing, Consumer and Industrial in order to reflect the operations of ZMDI which are primarily aggregated into the Computing, Consumer and Industry reportable segment.
The tables below provide information about these segments:
 Revenues by segment
Fiscal Year Ended
(in thousands)
April 3,
2016
 
March 29,
2015
 
March 30,
2014
Communications
$
302,188

 
$
313,630

 
$
292,435

Computing, Consumer and Industrial
395,188

 
259,275

 
192,344

Total revenues
$
697,376

 
$
572,905

 
$
484,779

The Company utilizes global and regional distributors around the world, that buy product directly from the Company on behalf of their customers. Sales through a distributor, Uniquest, represented approximately 16% of the Company's revenues in each of the fiscal years 2016 and 2015. Sales through a distributor, Avnet and its affiliates, represented approximately 15%, 14% and 17% of the Company’s revenues in fiscal 2016, 2015 and 2014, respectively. Each of these distributors serves customers within both of the Company's reportable segments. SK Hynix and its affiliates, which is a direct OEM customer, accounted for 12% of the Company's revenues in fiscal 2016.
At April 3, 2016, two distributors represented approximately 12% and 10%, respectively, of the Company's account receivable. At March 29, 2015, two distributors represented approximately 11% and 10%, respectively, of the Company's account receivable.
 Income (Loss) by segment from continuing operations
Fiscal Year Ended
 
(in thousands)
April 3,
2016
 
March 29,
2015
 
March 30,
2014
Communications
$
115,888

 
$
116,018

 
$
103,457

Computing, Consumer and Industrial
88,101

 
29,301

 
(22,658
)
Unallocated expenses:
 
 
 
 
 
Amortization of intangible assets
(13,662
)
 
(6,573
)
 
(21,964
)
Inventory fair market value adjustment
(5,531
)
 
—

 
—

Impairment of acquired in-process R&D
—


—


(2,433
)
Gain on divestitures
—

 
—

 
78,632

Asset impairment and other
(147
)
 
(2,968
)
 
(4,113
)
Stock-based compensation
(34,158
)
 
(22,453
)
 
(12,677
)
Severance, retention and facility closure costs
(11,701
)
 
(1,250
)
 
(6,590
)
Acquisition-related income (costs) and other
(2,591
)
 
125

 
(802
)
Deferred compensation plan expense (benefit)
(26
)
 
(50
)
 
51

Interest income and other, net
(2,309
)
 
3,788

 
1,391

Income from continuing operations, before income taxes
$
133,864

 
$
115,938

 
$
112,294

The Company does not allocate goodwill and intangible assets impairment charge, IPR&D, severance and retention costs, acquisition-related costs, stock-based compensation, interest income and other, and interest expense to its segments.  In addition, the Company does not allocate assets to its segments. The Company excludes these items consistent with the manner in which it internally evaluates its results of operations.
Revenues from unaffiliated customers by geographic area, based on the customers' shipment locations, were as follows:
 
Fiscal Year Ended
(in thousands)
April 3,
2016
 
March 29,
2015
 
March 30,
2014
Hong Kong
$
304,392

 
$
262,274

 
$
190,903

Rest of Asia Pacific
173,408

 
137,066

 
136,213

Korea
75,402

 
42,873

 
22,834

Americas (1)
74,631

 
68,373

 
71,305

Europe
69,543

 
62,319

 
63,524

Total revenues
$
697,376

 
$
572,905

 
$
484,779

(1)
Revenues from the customers in the U.S. were $65.2 million, $61.7 million and $63.1 million in fiscal 2016, 2015 and 2014, respectively.
The Company’s significant operations outside of the United States include a test facility in each of Malaysia and Germany, design centers in the U.S., Canada and China, and sales subsidiaries in Japan, APAC and Europe. The Company's net property, plant and equipment are summarized below by geographic area: 
 
(in thousands)
April 3,
2016
 
March 29,
2015
United States
$
38,735

 
$
38,879

Malaysia
20,150

 
21,244

Germany
9,235

 
—

Canada
3,781

 
3,997

All other countries
1,976

 
1,388

Total property, plant and equipment, net
$
73,877

 
$
65,508