XML 128 R112.htm IDEA: XBRL DOCUMENT v3.10.0.1
Selected Quarterly Financial Data - Summary of Quarterly Financial Data (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 28, 2018
Jun. 29, 2018
Mar. 30, 2018
Dec. 31, 2017
Sep. 29, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Quarterly Financial Data [Abstract]                      
Revenue $ 113,655 $ 100,616 $ 99,160 $ 90,127 $ 100,974 $ 92,014 $ 82,315 $ 82,943 $ 403,558 [1] $ 358,246 [1] $ 405,911 [1]
Gross profit 60,321 [2] 50,102 [2] 51,603 [2] 47,183 [2] 48,572 [2] 47,025 [2] 33,815 [2] 40,408 [2] 209,209 169,820 200,750
Net loss $ 3,330 [3],[4],[5] $ (7,758) [3],[4],[5] $ (2,913) [3],[4],[5] $ (13,694) [3],[4],[5] $ (11,516) [4],[5] $ (15,583) [4],[5] $ (31,500) [4],[5] $ (24,027) [4],[5] $ (21,035) $ (82,955) $ (72,314)
Basic net income (loss) per share from:                      
Basic and diluted $ 0.04 $ (0.09) $ (0.03) $ (0.16) $ (0.14) $ (0.19) $ (0.39) $ (0.30) $ (0.25) $ (1.02) $ (0.93)
Denominator:                      
Basic 86,846 86,321 85,304 83,912              
Diluted 89,028 86,321 85,304 83,912              
Basic and diluted         82,014 81,445 80,590 79,810 85,615 80,974 77,705
[1] Revenue is attributed to countries based on the location of the customer.
[2] Gross margin decreased to 49.8% during the third quarter of 2018 compared to 52.0% during the second quarter of 2018 and increased to 53.1% during the fourth quarter primarily as a result of product mix. Gross margin decreased to 41.1% during the second quarter of 2017 compared to 48.7% during the first quarter of 2017, primarily due to lower service margins and higher inventory obsolescence charges for the Company’s legacy broadcast video inventory due to reduced demand, as well as higher inventory obsolescence charge for our older Cable Edge product lines. The factors negatively impacting the gross margin during the second quarter of 2017 were mostly absent during the third quarter of 2017, and together with a more favorable product mix, the gross margin increased to 51.1% during the third quarter of 2017 compared to 41.1% during the second quarter of 2017.
[3] During the fourth quarter of 2018, the Company recorded net income primarily due to higher revenues with stronger gross margins of 53.1% coupled with reduced operating expenses as a result of our vigilant cost management.
[4] During the fourth quarter of 2018, the Company released $1.0 million of valuation allowance associated with one of Company’s foreign subsidiaries. During the third and fourth quarter of 2017, the Company recorded $2.4 million of tax benefit associated with the release of tax reserves for uncertain tax positions as a result of the expiration of statute of limitations and $2.5 million of tax benefits associated with the alternative minimum tax refund related to the TCJA, respectively. These tax benefits were offset by $3.0 million tax expense recorded during the fourth quarter of 2017, related to tax law changes in one of the Company’s foreign subsidiaries.
[5] In 2017, the Company incurred TVN acquisition- and integration-related expenses of $2.2 million, $0.5 million, $0.1 million and $0.1 million during the first through fourth quarter of 2017. These costs consisted of acquisition-related costs which include outside legal, accounting and other professional services as well as integration-related costs which include incremental costs resulting from the TVN acquisition that are not expected to generate future benefits once the integration is fully consummated. These costs are expensed as incurred and the Company did not incur any TVN acquisition- and integration-related expenses in 2018.