Note 14 - Lease Financing Obligations

6 Months Ended

Sep. 28, 2014

Disclosure Text Block Supplement [Abstract]

Debt and Capital Leases Disclosures [Text Block]

NOTE 14.       LEASE FINANCING OBLIGATIONS

We have acquired engineering design tools (“Design Tools”) under capital leases. We acquired Design Tools of $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, and $1.0 million in June 2010 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 September 28, 2014 and March 30, 2014, 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				Six Months Ended
	September 28, 2014		September 29, 2013		September 28, 2014		September 29, 2013
Amortization expense	$	800	$	884	$	1,600	$	1,750

Future minimum lease and sublease income payments for the lease financing obligations as of September 28, 2014 are as follows (in thousands):

Fiscal Years	Design Tools
2015 (6 months remaining)	$	1,687
2016		59
2017		10
2018		6
Total minimum lease payments		1,762
Less: amount representing interest		26
Present value of minimum lease payments		1,736
Less: short-term lease financing obligations		1,717
Long-term lease financing obligations	$	19

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

	Three Months Ended				Six Months Ended
	September 28, 2014		September 29, 2013		September 28, 2014		September 29, 2013
Interest expense	$	39	$	39	$	78	$	76

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				Six Months Ended
	September 28, 2014		September 29, 2013		September 28, 2014		September 29, 2013
Rent expense	$	564	$	233	$	896	$	429

Our future minimum lease payments for the lease operating obligations as of September 28, 2014 are as follows (in thousands):

Fiscal Years	Facilities
2015 (6 months remaining)	$	728
2016		1,108
2017		508
2018		160
Total minimum lease payments	$	2,504