2017 Q1 Form 10-Q Financial Statement
#000119312517244242 Filed on August 01, 2017
Income Statement
| Concept | 2017 Q1 | 2016 Q3 |
|---|---|---|
| Revenue | $14.92M | |
| YoY Change | -27.08% | |
| Cost Of Revenue | $8.791M | |
| YoY Change | -30.52% | |
| Gross Profit | $6.127M | |
| YoY Change | -21.51% | |
| Gross Profit Margin | 41.07% | |
| Selling, General & Admin | $4.957M | |
| YoY Change | 8.33% | |
| % of Gross Profit | 80.9% | |
| Research & Development | $4.977M | |
| YoY Change | 68.88% | |
| % of Gross Profit | 81.23% | |
| Depreciation & Amortization | $1.480M | |
| YoY Change | 28.7% | |
| % of Gross Profit | 24.16% | |
| Operating Expenses | $9.934M | |
| YoY Change | 32.05% | |
| Operating Profit | -$3.807M | |
| YoY Change | -1445.23% | |
| Interest Expense | $87.00K | |
| YoY Change | -769.23% | |
| % of Operating Profit | ||
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | -$3.720M | |
| YoY Change | -1477.78% | |
| Income Tax | -$230.0K | |
| % Of Pretax Income | ||
| Net Earnings | -$3.490M | |
| YoY Change | -29183.33% | |
| Net Earnings / Revenue | -23.39% | |
| Basic Earnings Per Share | -$0.17 | |
| Diluted Earnings Per Share | -$0.17 | |
| COMMON SHARES | ||
| Basic Shares Outstanding | 21.39M shares | 20.69M shares |
| Diluted Shares Outstanding | 20.69M shares |
Balance Sheet
| Concept | 2017 Q1 | 2016 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $35.40M | |
| YoY Change | -25.94% | |
| Cash & Equivalents | $27.04M | $18.73M |
| Short-Term Investments | $16.70M | |
| Other Short-Term Assets | $1.147M | |
| YoY Change | 23.47% | |
| Inventory | $22.49M | |
| Prepaid Expenses | ||
| Receivables | $16.80M | |
| Other Receivables | $0.00 | |
| Total Short-Term Assets | $76.30M | |
| YoY Change | -3.86% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $11.73M | |
| YoY Change | -5.12% | |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $5.200M | |
| YoY Change | -44.09% | |
| Other Assets | $919.0K | |
| YoY Change | -58.23% | |
| Total Long-Term Assets | $22.36M | |
| YoY Change | -18.29% | |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $76.30M | |
| Total Long-Term Assets | $22.36M | |
| Total Assets | $98.67M | |
| YoY Change | -7.56% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $4.040M | |
| YoY Change | -3.09% | |
| Accrued Expenses | $3.617M | |
| YoY Change | -42.12% | |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $26.96M | |
| YoY Change | 80.63% | |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | |
| YoY Change | ||
| Other Long-Term Liabilities | $2.883M | |
| YoY Change | 11.48% | |
| Total Long-Term Liabilities | $2.883M | |
| YoY Change | 11.48% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $26.96M | |
| Total Long-Term Liabilities | $2.883M | |
| Total Liabilities | $29.84M | |
| YoY Change | 70.42% | |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$72.26M | |
| YoY Change | 28.62% | |
| Common Stock | $169.1M | |
| YoY Change | 3.06% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $28.49M | |
| YoY Change | 47.86% | |
| Treasury Stock Shares | 4.845M shares | |
| Shareholders Equity | $73.27M | $68.83M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $98.67M | |
| YoY Change | -7.56% |
Cashflow Statement
| Concept | 2017 Q1 | 2016 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$3.490M | |
| YoY Change | -29183.33% | |
| Depreciation, Depletion And Amortization | $1.480M | |
| YoY Change | 28.7% | |
| Cash From Operating Activities | -$1.860M | |
| YoY Change | -180.17% | |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$790.0K | |
| YoY Change | 29.51% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$210.0K | |
| YoY Change | -105.85% | |
| Cash From Investing Activities | -$990.0K | |
| YoY Change | -133.33% | |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -180.0K | |
| YoY Change | -97.05% | |
| NET CHANGE | ||
| Cash From Operating Activities | -1.860M | |
| Cash From Investing Activities | -990.0K | |
| Cash From Financing Activities | -180.0K | |
| Net Change In Cash | -3.030M | |
| YoY Change | 269.51% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$1.860M | |
| Capital Expenditures | -$790.0K | |
| Free Cash Flow | -$1.070M | |
| YoY Change | -136.52% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2013Q4 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
30000000 | |
| CY2017Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
21782377 | shares |
| CY2016Q2 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
776000 | |
| CY2016Q2 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
906000 | |
| CY2017Q2 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
1106000 | |
| CY2017Q2 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
837000 | |
| CY2016Q3 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
592000 | |
| CY2016Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
748000 | |
| CY2016Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
18733000 | |
| CY2017Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
4845000 | shares |
| CY2017Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
2109908 | shares |
| CY2017Q3 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
174245000 | |
| CY2017Q3 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
1500000 | |
| CY2017Q3 | us-gaap |
Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
|
1014000 | |
| CY2017Q3 | us-gaap |
Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
|
206000 | |
| CY2017Q3 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
1400000 | |
| CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
7.22 | |
| CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2982631 | shares |
| CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
7.63 | |
| CY2017Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-68070000 | |
| CY2017Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3335000 | |
| CY2017Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
113203000 | |
| CY2017Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
6010000 | |
| CY2017Q3 | us-gaap |
Business Combination Liabilities Arising From Contingencies Amount Recognized
BusinessCombinationLiabilitiesArisingFromContingenciesAmountRecognized
|
859000 | |
| CY2017Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
399000 | |
| CY2017Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
9529000 | |
| CY2017Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
78107000 | |
| CY2017Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
22000 | |
| CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
6556000 | |
| CY2017Q3 | us-gaap |
Customer Advances Current
CustomerAdvancesCurrent
|
13178000 | |
| CY2017Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
0 | |
| CY2017Q3 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
1220000 | |
| CY2017Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
31761000 | |
| CY2017Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
859000 | |
| CY2017Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
3044000 | |
| CY2017Q3 | us-gaap |
Assets Current
AssetsCurrent
|
89417000 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
|
15096000 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
0 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
19000 | |
| CY2017Q3 | us-gaap |
Deferred Income Taxes And Other Assets Noncurrent
DeferredIncomeTaxesAndOtherAssetsNoncurrent
|
743000 | |
| CY2017Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
9880000 | |
| CY2017Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
1230000 | |
| CY2017Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
12244000 | |
| CY2017Q3 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
1400000 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
|
29649000 | |
| CY2017Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
19575000 | |
| CY2017Q3 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
4000 | |
| CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
328000 | |
| CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
273000 | |
| CY2017Q3 | us-gaap |
Inventory Net
InventoryNet
|
26834000 | |
| CY2017Q3 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
7568000 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
41360000 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
19000 | |
| CY2017Q3 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
14217000 | |
| CY2017Q3 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
26635000 | |
| CY2017Q3 | us-gaap |
Assets
Assets
|
113203000 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
|
0 | |
| CY2017Q3 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
41379000 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
29630000 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
|
22068000 | |
| CY2017Q3 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
716000 | |
| CY2017Q3 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
|
22062000 | |
| CY2017Q3 | us-gaap |
Debt Instrument Collateral Amount
DebtInstrumentCollateralAmount
|
1400000 | |
| CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
615000 | |
| CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
615000 | |
| CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1831000 | |
| CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
8387000 | |
| CY2017Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
605000 | |
| CY2017Q3 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
16349000 | |
| CY2017Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2156000 | |
| CY2017Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
28489000 | |
| CY2017Q3 | ivac |
Common Property Plant And Equipment
CommonPropertyPlantAndEquipment
|
1682000 | |
| CY2017Q3 | ivac |
Availableforsale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableforsaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
|
7581000 | |
| CY2017Q3 | ivac |
Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
|
7568000 | |
| CY2016Q1 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
982000 | |
| CY2016Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
890000 | |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
13746000 | |
| CY2016Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
4845000 | shares |
| CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-69901000 | |
| CY2016Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3082000 | |
| CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
108324000 | |
| CY2016Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4220000 | |
| CY2016Q4 | us-gaap |
Business Combination Liabilities Arising From Contingencies Amount Recognized
BusinessCombinationLiabilitiesArisingFromContingenciesAmountRecognized
|
759000 | |
| CY2016Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
321000 | |
| CY2016Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
5323000 | |
| CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
73266000 | |
| CY2016Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
21000 | |
| CY2016Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
171314000 | |
| CY2016Q4 | us-gaap |
Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
|
829000 | |
| CY2016Q4 | us-gaap |
Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
|
178000 | |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
6129000 | |
| CY2016Q4 | us-gaap |
Customer Advances Current
CustomerAdvancesCurrent
|
5422000 | |
| CY2016Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
1000 | |
| CY2016Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
0 | |
| CY2016Q4 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
1007000 | |
| CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
31976000 | |
| CY2016Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
17011000 | |
| CY2016Q4 | us-gaap |
Assets Current
AssetsCurrent
|
88736000 | |
| CY2016Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
23000 | |
| CY2016Q4 | us-gaap |
Deferred Income Taxes And Other Assets Noncurrent
DeferredIncomeTaxesAndOtherAssetsNoncurrent
|
898000 | |
| CY2016Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
6470000 | |
| CY2016Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
997000 | |
| CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11237000 | |
| CY2016Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
1602000 | |
| CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
27043000 | |
| CY2016Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
3000 | |
| CY2016Q4 | us-gaap |
Inventory Net
InventoryNet
|
24876000 | |
| CY2016Q4 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
3593000 | |
| CY2016Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
48238000 | |
| CY2016Q4 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
871000 | |
| CY2016Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
17602000 | |
| CY2016Q4 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
17447000 | |
| CY2016Q4 | us-gaap |
Assets
Assets
|
108324000 | |
| CY2016Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
48260000 | |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2258000 | |
| CY2016Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
8116000 | |
| CY2016Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
10290000 | |
| CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1768000 | |
| CY2016Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
28489000 | |
| CY2016Q4 | ivac |
Common Property Plant And Equipment
CommonPropertyPlantAndEquipment
|
1039000 | |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2740364 | shares |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
7.00 | |
| CY2017Q1 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
1007000 | |
| CY2017Q1 | us-gaap |
New Accounting Pronouncement Or Change In Accounting Principle Cumulative Effect Of Change On Equity Or Net Assets1
NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1
|
1100000 | |
| CY2017Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
759000 | |
| CY2017Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
27043000 | |
| us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>2. Recent Accounting Pronouncements</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-09, <i>Compensation - Stock Compensation: Scope of Modification Accounting</i>, which provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. An entity will account for the effects of a modification unless the fair value of the modified award is the same as the original award, the vesting conditions of the modified award are the same as the original award and the classification of the modified award as an equity instrument or liability instrument is the same as the original award. This update becomes effective and will be adopted by Intevac in the first quarter of fiscal 2019. The update is to be adopted prospectively to an award modified on or after the adoption date. Early adoption is permitted. Intevac does not expect the adoption of this update to have a material impact on its consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In March 2017, the FASB issued ASU 2017-08, <i>Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities</i>. ASU 2017-08 amends the amortization period for certain purchased callable debt securities held at a premium, shortening such period to the earliest call date. This update becomes effective and will be adopted by Intevac in the first quarter of fiscal 2019. Intevac does not expect the adoption of this update to have a material impact on its consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In January 2017, the FASB issued ASU 2017-04, <i>Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment</i>. ASU 2017-04 eliminates Step 2 from the goodwill impairment test. Under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in ASU 2017-04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This update becomes effective and will be adopted by Intevac in the first quarter of fiscal 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. Intevac does not expect the adoption of this update to have a material impact on its consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">  </p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> In March 2016, the FASB issued ASU 2016-09 <i>Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting</i>. We have adopted these amendments beginning in the first quarter of 2017. Starting in the first quarter of fiscal 2017, stock-based compensation excess tax benefits or deficiencies are reflected in the Condensed Consolidated Statements of Operations as a component of the provision for income taxes, whereas they previously were recognized in equity. Additionally, our Condensed Consolidated Statements of Cash Flows now presents excess tax benefits as an operating activity. Finally, we have elected to account for forfeitures as they occur, rather than estimate expected forfeitures. The net cumulative effect of this change was recognized as a $1.1 million charge to the accumulated deficit as of January 1, 2017. In the first half of 2017, stock-based compensation excess tax benefits of $74,000 were reflected in the Condensed Consolidated Statements of Operations as a component of the provision for income taxes.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In May 2014, the FASB issued ASU 2014-09 <i>(Topic 606) Revenue from Contracts with Customers.</i> Topic 606 supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, “Revenue Recognition”, and requires entities to recognize revenue when they transfer control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. We expect revenue recognition for our equipment sales arrangements, which includes systems, technology upgrades, service and spare parts, to remain materially consistent with our historical practice.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We expect to recognize revenue for equipment sales at a point in time following the transfer of control of such products to the customer, which typically occurs upon shipment or delivery depending on the terms of the underlying contracts. Our contracts with customers may include multiple performance obligations. For such arrangements, we expect to allocate revenue to each performance obligation based on its relative standalone selling price. We generally determine standalone selling prices based on the prices charged to customers or using expected cost plus margin. The expected costs associated with our base warranties will continue to be recognized as expense when the equipment is sold.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We expect to recognize revenue for cost plus fixed fee and firm fixed priced government contracts over time under the cost-to-cost method for the majority of our government contracts, which is consistent with our current revenue recognition model. Revenue on the majority of our government contracts will continue to be recognized over time because of the continuous transfer of control to the customer. For U.S. government contracts, this continuous transfer of control to the customer is supported by clauses in the contract that allow the customer to unilaterally terminate the contract for convenience, pay us for costs incurred plus a reasonable profit and take control of any work in process. Similarly, for non-U.S. government contracts, the customer typically controls the work in process as evidenced either by contractual termination clauses or by our rights to payment for work performed to date to deliver products or services that do not have an alternative use to the company. Under the new standard, the cost-to-cost measure of progress continues to best depict the transfer of control of assets to the customer, which occurs as we incur costs.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The new standard must be adopted by Intevac in our fiscal year beginning December 31, 2017. We intend to adopt the new standard as of December 31, 2017, using the modified retrospective transition method applied to those contracts which were not completed as of that date. Upon adoption, we will recognize the cumulative effect of adopting this guidance as an adjustment to our opening balance of the accumulated deficit. Prior periods will not be retrospectively adjusted. Based on our preliminary assessment, we expect the adoption of Topic 606 will not have a material impact to our consolidated financial statements, including the presentation of revenues in our Consolidated Statements of Operations. We also do not expect the standard to have a material impact on our Consolidated Balance Sheet. The immaterial impact primarily relates to reclassifications among financial statement accounts to align with the new standard. Most notably, contracts in process, net will be reclassified as receivables or contract assets based on amounts billed or unbilled, respectively. Advance payments and billings in excess of costs incurred and deferred revenue will be combined and reclassified as contract liabilities. Our contract balances will be reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period.</p> </div> | ||
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-45000 | |
| CY2016Q3 | us-gaap |
Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
|
-32000 | |
| CY2016Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
87000 | |
| CY2016Q3 | us-gaap |
Contracts Revenue
ContractsRevenue
|
1835000 | |
| CY2016Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
13083000 | |
| CY2016Q3 | us-gaap |
Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
|
-32000 | |
| CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3807000 | |
| CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3490000 | |
| CY2016Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-3522000 | |
| CY2016Q3 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
13000 | |
| CY2016Q3 | us-gaap |
Gross Profit
GrossProfit
|
6127000 | |
| CY2016Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
|
-158000 | |
| CY2016Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-32000 | |
| CY2016Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-3720000 | |
| CY2016Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-230000 | |
| CY2016Q3 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
0 | |
| CY2016Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
880000 | |
| CY2016Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
4957000 | |
| CY2016Q3 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
8791000 | |
| CY2016Q3 | us-gaap |
Product Warranty Expense
ProductWarrantyExpense
|
106000 | |
| CY2016Q3 | us-gaap |
Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
|
0 | |
| CY2016Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4977000 | |
| CY2016Q3 | us-gaap |
Contract Revenue Cost
ContractRevenueCost
|
1277000 | |
| CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1339000 | |
| CY2016Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
7514000 | |
| CY2016Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
9934000 | |
| CY2017Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.05 | |
| CY2017Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23209000 | shares |
| CY2017Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
21495000 | shares |
| CY2017Q3 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
0 | shares |
| CY2017Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
1714000 | shares |
| CY2017Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.05 | |
| CY2017Q3 | us-gaap |
Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
|
-4000 | |
| CY2017Q3 | us-gaap |
Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
|
256000 | |
| CY2017Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
30963000 | |
| CY2017Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
|
41000 | |
| CY2017Q3 | us-gaap |
Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
|
40000 | |
| CY2017Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
127000 | |
| CY2017Q3 | us-gaap |
Contracts Revenue
ContractsRevenue
|
1100000 | |
| CY2017Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
29863000 | |
| CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
|
40000 | |
| CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1100000 | |
| CY2017Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1140000 | |
| CY2017Q3 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
-1000 | |
| CY2017Q3 | us-gaap |
Gross Profit
GrossProfit
|
11470000 | |
| CY2017Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
|
22000 | |
| CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
40000 | |
| CY2017Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1466000 | |
| CY2017Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
366000 | |
| CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
0 | |
| CY2017Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
787000 | |
| CY2017Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
5713000 | |
| CY2017Q3 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
19493000 | |
| CY2017Q3 | us-gaap |
Product Warranty Expense
ProductWarrantyExpense
|
138000 | |
| CY2017Q3 | us-gaap |
Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
|
0 | |
| CY2017Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4418000 | |
| CY2017Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
213000 | |
| CY2017Q3 | us-gaap |
Contract Revenue Cost
ContractRevenueCost
|
1148000 | |
| CY2017Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
18345000 | |
| CY2017Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
10131000 |
