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Susequent Events
9 Months Ended
Sep. 30, 2011
Subsequent Events [Abstract] 
SUBSEQUENT EVENTS

18. SUBSEQUENT EVENTS

On October 19, 2011, the Company entered into an agreement with Shanghai Lingang Economic Development Group Investment Management Co., Ltd. to sell and leaseback its property in Shanghai, China. The sale price is the equivalent of approximately $24.0 million. The Company expects fees, transactional taxes and income taxes of approximately $4.0 million associated with the sale to be incurred within three to six months. The Company received a deposit of $4.8 million on October 20, 2011 and expects to receive the remaining proceeds of approximately $19.2 million during the three months ended December 31, 2011. These funds are expected to be used primarily in China. The Company will pay annual rents of approximately $2.1 million for a lease term of five years.

The Company previously announced a Loan, Guaranty and Security Agreement dated as of February 9, 2011 (the Agreement) with Bank of America, N.A. The Company has not used the line of credit available under the Agreement and had no borrowings outstanding under the Agreement. The Company terminated the Agreement on November 1, 2011. As a result, the Company and its subsidiaries will have no obligations under the Agreement and any collateral for the Agreement will be available to the Company without restriction.

On November 8, 2011, the Company and NXP entered into amendments to certain of the agreements between NXP and the Company, to extend the period during which NXP will provide the Company with manufacturing services until December 31, 2012, subject to certain requirements and limitations. In addition, NXP, the Company’s largest supplier, agreed to certain payment terms which the Company expects will increase its liquidity during the short term. The Company and NXP agreed that the Company will have extended payment terms for all purchase orders placed from October 24, 2011 through January 31, 2012. The Company believes these terms will assist it in managing short term liquidity, providing an opportunity for the Company to continue to fulfill customer orders and meet customer requirements.