Segment Information

6 Months Ended

Jul. 26, 2015

Segment Reporting [Abstract]

Segment Information

Segment information

Segment Information

See Note 1 regarding recent developments affecting the Company’s operating segments.

The Company has five operating segments in total. The Company’s CEO continues to function as the CODM. The Company’s CODM makes operating decisions and assesses performance based on these operating segments. Four of the operating segments: Protection Products; Power and High Reliability Products; Signal Integrity Products; and Wireless, Sensing and Timing Products, all have similar economic characteristics and have been aggregated into one reportable segment identified in the table below as the “Semiconductor Products Group”. The remaining operating segment, the Systems Innovation Group, cannot be aggregated with the other operating segments and does not meet the thresholds for a separate reportable segment as defined by the guidance regarding segment disclosure. Therefore the Company has classified it as “All others” in the tables below. The Company’s assets are commingled among the various reporting units and the CODM does not use that information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by segment below.

Net sales by segment are as follows:

	Three Months Ended				Six Months Ended
(in thousands)	July 26, 2015		July 27, 2014		July 26, 2015		July 27, 2014
Semiconductor Products Group	$	125,648	$	145,451	$	253,895	$	277,195
All others	64		291		1,905		1,406
Total	$	125,712	$	145,742	$	255,800	$	278,601

Income by segment and reconciliation to consolidated operating income:

	Three Months Ended						Six Months Ended
(in thousands)	July 26, 2015			July 27, 2014			July 26, 2015			July 27, 2014
Semiconductor Products Group	$	22,709		$	36,517		$	48,038		$	66,478
All others	(2,307		)	(1,345		)	(4,558		)	(4,049		)
Operating Income by segment	20,402			35,172			43,480			62,429
Items to reconcile segment operating income to consolidated income before taxes
Intangible amortization and impairments	6,177			6,444			12,340			12,869
Stock-based compensation expense	2,335			6,274			8,281			13,121
Inventory write-down	—			—			—			1,052
Restructuring charges	3,564			—			3,564			1,001
Environmental reserve	520			—			2,855			—
Other non-segment related expenses	4,426			58			7,585			502
Amortization of fair value adjustments related to acquired PP&E	312			339			903			678
Interest expense, net	1,900			1,588			3,734			2,975
Non-operating (income) expense, net	(117		)	345			376			623
Income before taxes	$	1,285		$	20,124		$	3,842		$	29,608

Information by Product Line

The Company operates exclusively in the semiconductor industry and primarily within the analog and mixed-signal sector.

The table below provides net sales activity by product line on a comparative basis for all periods.

	Three Months Ended						Six Months Ended
(in thousands, except percentages)	July 26, 2015			July 27, 2014			July 26, 2015			July 27, 2014
Signal Integrity	59,024	47	%	60,232	41	%	113,333	44	%	111,511	40	%
Protection	34,986	28	%	48,905	33	%	72,113	28	%	97,577	34	%
Wireless, Sensing and Timing	15,533	12	%	19,793	14	%	38,331	15	%	38,141	14	%
Power and High-Reliability	16,105	13	%	16,521	11	%	30,118	12	%	29,966	11	%
Systems Innovation	64	—	%	291	1	%	1,905	1	%	1,406	1	%
Total net sales	125,712	100	%	145,742	100	%	255,800	100	%	278,601	100	%

Geographic Information

The Company generates virtually all of its sales from its Semiconductor Products Group through sales of analog and mixed-signal devices.

Net sales activity by geographic region is as follows:

	Three Months Ended				Six Months Ended
	July 26, 2015		July 27, 2014		July 26, 2015		July 27, 2014
Asia-Pacific	73	%	77	%	73	%	76	%
North America	16	%	13	%	17	%	13	%
Europe	11	%	10	%	10	%	11	%
	100	%	100	%	100	%	100	%

The Company generally attributes sales to a country based on the ship-to address. The table below summarizes sales activity to countries that represented greater than 10% of total net sales for one or more of the periods presented:

	Three Months Ended				Six Months Ended
(percentage of total sales)	July 26, 2015		July 27, 2014		July 26, 2015		July 27, 2014
China (including Hong Kong)	45	%	36	%	44	%	35	%
United States	11	%	12	%	11	%	13	%
Japan	9	%	12	%	8	%	11	%
South Korea	5	%	8	%	6	%	10	%

Income (loss) from continuing operations before income taxes is as follows:

	Three Months Ended						Six Months Ended
(in thousands)	July 26, 2015			July 27, 2014			July 26, 2015			July 27, 2014
Domestic	$	(3,925	)	$	(6,002	)	$	(17,361	)	$	(11,139	)
Foreign	5,210			26,126			21,203			40,747
Total	$	1,285		$	20,124		$	3,842		$	29,608