Note 13 - Lease Financing Obligations

9 Months Ended

Dec. 29, 2013

Disclosure Text Block Supplement [Abstract]

Debt and Capital Leases Disclosures [Text Block]

NOTE 13.    LEASE FINANCING OBLIGATIONS

We have acquired engineering design tools (“Design Tools”) under capital leases. We acquired Design Tools of $0.2 million in July 2013 under a 29-month license, $0.9 million in July 2012 under a three-year license, $4.5 million in December 2011 under a three-year license, $5.8 million in October 2011 under a three-year license, $1.0 million in June 2010 under a three-year license, $1.3 million in December 2009 under a 28-month license, and $1.1 million in July 2009 under a three-year license, all of which were accounted for as capital leases and recorded in the property, plant and equipment, net line item in the condensed consolidated balance sheets. The obligations related to the Design Tools were included in other current liabilities and long-term lease financing obligations in our condensed consolidated balance sheets as of December 29, 2013 and March 31, 2013, respectively. The effective interest rates for the Design Tools range from 2.0% to 7.25%.

Amortization expense related to the Design Tools, which was recorded using the straight-line method over the remaining useful life for the periods indicated below was as follows (in thousands):

	Three Months Ended				Nine Months Ended
	December29, 2013		December30, 2012		December29, 2013		December30, 2012
Amortization expense	$	800	$	818	$	2,494	$	2,659

Future minimum lease and sublease income payments for the lease financing obligations as of December 29, 2013 are as follows (in thousands):

Fiscal Years	Design Tools
2014 (3 months remaining)	$	370
2015		1,456
2016		59
2017		10
2018 and thereafter		6
Total minimum lease payments		1,901
Less: amount representing interest		95
Present value of minimum lease payments		1,806
Less: short-term lease financing obligations		1,700
Long-term lease financing obligations	$	106

Interest expense for the lease financing obligation for the periods indicated below was as follows (in thousands):

	Three Months Ended				Nine Months Ended
	December29, 2013		December30, 2012		December29, 2013		December30, 2012
Interest expense	$	39	$	35	$	115	$	107

In the course of our business, we enter into arrangements accounted for as operating leases related to rental of office space. Rent expenses for all operating leases for the periods indicated below were as follows (in thousands):

	Three Months Ended				Nine Months Ended
	December29, 2013		December30, 2012		December29, 2013		December30, 2012
Rent expense	$	229	$	149	$	658	$	456

Our future minimum lease payments for the lease operating obligations as of December 29, 2013 are as follows (in thousands):

Fiscal Years	Facilities
2014 (3 months remaining)	$	200
2015		552
2016		461
2017		150
2018 and thereafter		20
Total minimum lease payments	$	1,383