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Divestiture
3 Months Ended
May. 01, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Divestiture
Divestiture
In the first quarter of fiscal year 2016, the Company completed its divestiture of its defense and microwave communications infrastructure business to Jariet Technologies, Inc. (“Jariet”) in exchange for an equity interest in that company. For the three months ended April 26, 2015, the defense and microwave communications infrastructure business accounted for $4.1 million in net revenue and non-recurring engineering reimbursements. This business was part of the Sierra Monolithics, Inc. acquisition completed in December 2009.
Under the terms of the transaction, the Company contributed assets, including inventory and equipment with a net book value of $0.6 million in exchange for an equity interest in the form of preferred stock, representing an approximately 21% voting interest in Jariet. Due to the anticipated continuing cash flows from its investment in Jariet, the Company did not account for the divestiture as a discontinued operation. In addition to the contribution of assets, certain contracts have been novated with future performance responsibilities being transferred to Jariet. The investment in Jariet was written off in the third quarter of fiscal year 2016.