2015 Q4 Form 10-K Financial Statement

#000005697815000125 Filed on November 18, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q3 2014 Q2
Revenue $119.2M $194.7M $180.5M
YoY Change 10.95% 12.17% 27.86%
Cost Of Revenue $61.00M $102.4M $95.36M
YoY Change 15.74% 10.23% 26.7%
Gross Profit $58.20M $92.36M $85.16M
YoY Change 6.33% 14.47% 29.19%
Gross Profit Margin 48.83% 47.43% 47.17%
Selling, General & Admin $34.70M $32.10M $30.09M
YoY Change 36.47% 4.22% -3.75%
% of Gross Profit 59.62% 34.76% 35.34%
Research & Development $21.90M $22.80M $23.48M
YoY Change 11.84% 48.05% 48.77%
% of Gross Profit 37.63% 24.69% 27.57%
Depreciation & Amortization $5.000M $3.500M $2.180M
YoY Change 40.61% -16.67% -12.94%
% of Gross Profit 8.59% 3.79% 2.56%
Operating Expenses $56.50M $54.80M $53.57M
YoY Change 25.53% 18.61% 13.87%
Operating Profit $1.700M $37.50M $31.58M
YoY Change -82.52% 8.55% 67.4%
Interest Expense $200.0K $0.00 $316.0K
YoY Change -33.99% -100.0%
% of Operating Profit 11.76% 0.0% 1.0%
Other Income/Expense, Net
YoY Change
Pretax Income $1.800M $37.50M $31.52M
YoY Change -81.41% 7.76% 64.75%
Income Tax -$8.000M $8.241M $4.908M
% Of Pretax Income -444.44% 21.98% 15.57%
Net Earnings $9.800M $29.26M $26.62M
YoY Change 24.97% -0.92% 40.92%
Net Earnings / Revenue 8.22% 15.03% 14.74%
Basic Earnings Per Share $0.38 $0.35
Diluted Earnings Per Share $139.6K $0.38 $0.34
COMMON SHARES
Basic Shares Outstanding 70.69M shares 76.66M shares 76.60M shares
Diluted Shares Outstanding 77.93M shares 77.61M shares

Balance Sheet

Concept 2015 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $498.6M $597.1M $600.1M
YoY Change -21.28% 13.73% 18.01%
Cash & Equivalents $498.6M $588.0M $597.5M
Short-Term Investments $237.3M $9.100M $2.600M
Other Short-Term Assets $21.00M $19.40M $23.30M
YoY Change 37.25% -31.93% -8.27%
Inventory $79.10M $49.69M $53.92M
Prepaid Expenses
Receivables $108.6M $171.5M $154.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $707.4M $837.7M $831.6M
YoY Change -14.0% 11.04% 14.08%
LONG-TERM ASSETS
Property, Plant & Equipment $53.23M $52.76M $52.23M
YoY Change 0.84% 10.97% 58.85%
Goodwill $41.55M $41.55M $41.55M
YoY Change 0.0% 0.0% 0.0%
Intangibles $57.47M $5.891M $7.221M
YoY Change 1159.78% -47.44% -46.53%
Long-Term Investments
YoY Change
Other Assets $5.120M $6.565M $7.260M
YoY Change -19.9% -21.0% -24.55%
Total Long-Term Assets $197.1M $106.8M $108.3M
YoY Change 87.19% -1.7% 10.97%
TOTAL ASSETS
Total Short-Term Assets $707.4M $837.7M $831.6M
Total Long-Term Assets $197.1M $106.8M $108.3M
Total Assets $904.5M $944.4M $939.9M
YoY Change -2.52% 9.44% 13.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.52M $35.13M $66.22M
YoY Change -6.94% -5.13% 43.2%
Accrued Expenses $24.70M $24.50M $22.70M
YoY Change 51.53% 2.51% -35.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $73.93M $81.35M $111.7M
YoY Change 18.01% 5.1% 14.3%
LONG-TERM LIABILITIES
Long-Term Debt $16.50M $19.10M $19.60M
YoY Change -9.84% -1.55%
Other Long-Term Liabilities $10.84M $9.790M $8.957M
YoY Change 12.17% 10.97% -1.57%
Total Long-Term Liabilities $10.84M $9.790M $8.957M
YoY Change 12.17% 10.97% -1.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $73.93M $81.35M $111.7M
Total Long-Term Liabilities $10.84M $9.790M $8.957M
Total Liabilities $135.2M $155.2M $180.4M
YoY Change -0.46% 6.07% 25.88%
SHAREHOLDERS EQUITY
Retained Earnings $402.9M $352.2M $325.6M
YoY Change 11.07% 21.78% 24.11%
Common Stock $492.3M $479.1M $476.5M
YoY Change 1.99% 2.48% 2.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $124.9M $46.98M $46.36M
YoY Change 128.58% 1.35% 0.0%
Treasury Stock Shares 11.40M shares 4.998M shares 4.954M shares
Shareholders Equity $760.9M $786.6M $759.5M
YoY Change
Total Liabilities & Shareholders Equity $904.5M $944.4M $939.9M
YoY Change -2.52% 9.44% 13.71%

Cashflow Statement

Concept 2015 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $9.800M $29.26M $26.62M
YoY Change 24.97% -0.92% 40.92%
Depreciation, Depletion And Amortization $5.000M $3.500M $2.180M
YoY Change 40.61% -16.67% -12.94%
Cash From Operating Activities $39.60M -$1.700M $5.900M
YoY Change -14.66% -106.39% -48.25%
INVESTING ACTIVITIES
Capital Expenditures -$3.400M -$800.0K -$1.900M
YoY Change -233.54% -92.86% -26.92%
Acquisitions
YoY Change
Other Investing Activities $200.0K -$6.400M $6.500M
YoY Change -112.5% 100.0%
Cash From Investing Activities -$3.200M -$7.300M $4.600M
YoY Change -23.37% -49.66% -284.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.70M -400.0K -300.0K
YoY Change 92.89% -150.0% -175.0%
NET CHANGE
Cash From Operating Activities 39.60M -1.700M 5.900M
Cash From Investing Activities -3.200M -7.300M 4.600M
Cash From Financing Activities -14.70M -400.0K -300.0K
Net Change In Cash 21.70M -9.400M 10.20M
YoY Change -283.95% -172.87% 9.68%
FREE CASH FLOW
Cash From Operating Activities $39.60M -$1.700M $5.900M
Capital Expenditures -$3.400M -$800.0K -$1.900M
Free Cash Flow $43.00M -$900.0K $7.800M
YoY Change -1.95% -102.38% -44.29%

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700000 USD
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825000 USD
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540000 USD
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825000 USD
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540000 USD
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6660000 USD
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6086000 USD
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6086000 USD
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6631000 USD
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12600000 USD
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147000 USD
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us-gaap Gross Profit
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3400000 USD
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3500000 USD
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7700000 USD
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37705000 USD
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2634000 USD
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23334000 USD
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13197000 USD
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964000 USD
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0 USD
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-16000 USD
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918000 USD
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1789000 USD
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5906000 USD
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2241000 USD
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0 USD
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4090000 USD
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8382000 USD
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4603000 USD
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5192000 USD
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1030000 USD
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0 USD
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0 USD
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14618000 USD
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14471000 USD
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2421000 USD
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57471000 USD
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21000 USD
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1048000 USD
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1183000 USD
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1048000 USD
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1183000 USD
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22184000 USD
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23541000 USD
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13863000 USD
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19073000 USD
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18783000 USD
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24110000 USD
CY2013 us-gaap Inventory Write Down
InventoryWriteDown
3561000 USD
CY2014 us-gaap Inventory Write Down
InventoryWriteDown
3060000 USD
CY2015 us-gaap Inventory Write Down
InventoryWriteDown
3978000 USD
CY2013 us-gaap Investment Income Interest
InvestmentIncomeInterest
883000 USD
CY2014 us-gaap Investment Income Interest
InvestmentIncomeInterest
1197000 USD
CY2015 us-gaap Investment Income Interest
InvestmentIncomeInterest
1637000 USD
CY2014Q3 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
9105000 USD
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
7765000 USD
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4608000 USD
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
5006000 USD
CY2014Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
13962000 USD
CY2015Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
19512000 USD
CY2014Q3 us-gaap Liabilities
Liabilities
155206000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
132575000 USD
CY2014Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
944448000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
904466000 USD
CY2014Q3 us-gaap Liabilities Current
LiabilitiesCurrent
81351000 USD
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
73934000 USD
CY2015Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
5000000 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1733000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-164000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-84459000 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-15114000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-15974000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-94109000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
94824000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
82460000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
87875000 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
59358000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-1957000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
9070000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
26616000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
29259000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
62988000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
7842000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
7931000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
25039000 USD
us-gaap Net Income Loss
NetIncomeLoss
9827000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
50639000 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
59358000 USD
CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
62988000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
50639000 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
59358000 USD
CY2014 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
62988000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
50639000 USD
CY2013Q3 us-gaap Noncurrent Assets
NoncurrentAssets
55851000 USD
CY2014Q3 us-gaap Noncurrent Assets
NoncurrentAssets
59321000 USD
CY2015Q4 us-gaap Noncurrent Assets
NoncurrentAssets
58355000 USD
CY2015 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2013 us-gaap Operating Expenses
OperatingExpenses
181139000 USD
CY2014 us-gaap Operating Expenses
OperatingExpenses
196570000 USD
CY2015 us-gaap Operating Expenses
OperatingExpenses
221841000 USD
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
65806000 USD
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-2208000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
10111000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
31584000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
37497000 USD
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
76984000 USD
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
9726000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
9791000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
16086000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1648000 USD
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
37251000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
30195000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
4874000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2956000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3498000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4180000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
14687000 USD
CY2014Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6565000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
5120000 USD
CY2015Q4 us-gaap Other Commitment
OtherCommitment
110795000 USD
CY2015Q4 us-gaap Other Commitment Due After Fifth Year
OtherCommitmentDueAfterFifthYear
14687000 USD
CY2015Q4 us-gaap Other Commitment Due In Fourth Year
OtherCommitmentDueInFourthYear
2956000 USD
CY2015Q4 us-gaap Other Commitment Due In Next Twelve Months
OtherCommitmentDueInNextTwelveMonths
85474000 USD
CY2015Q4 us-gaap Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
4180000 USD
CY2015Q4 us-gaap Other Commitment Due In Third Year
OtherCommitmentDueInThirdYear
3498000 USD
CY2013 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
-51000 USD
CY2014 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
391000 USD
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
-19000 USD
CY2013 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-51000 USD
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1237000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1374000 USD
CY2014 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
391000 USD
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-19000 USD
CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1186000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-983000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3360000 USD
CY2014Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
8045000 USD
CY2015Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9615000 USD
CY2014Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9790000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
10842000 USD
CY2014Q3 us-gaap Payables To Customers
PayablesToCustomers
8999000 USD
CY2015Q4 us-gaap Payables To Customers
PayablesToCustomers
9215000 USD
CY2013 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2014 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
419000 USD
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
75715000 USD
CY2015 us-gaap Payments For Restructuring
PaymentsForRestructuring
312000 USD
CY2013 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2014 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
93153000 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17172000 USD
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10138000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10269000 USD
CY2013 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
3252000 USD
CY2014 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
18236000 USD
CY2015 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
1630000 USD
CY2014 us-gaap Pension Contributions
PensionContributions
1278000 USD
CY2015 us-gaap Pension Contributions
PensionContributions
1573000 USD
CY2014Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2015Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2014Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2014Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15090000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
16937000 USD
CY2014Q3 us-gaap Present Value Of Future Minimum Lease Payments Sale Leaseback Transactions
PresentValueOfFutureMinimumLeasePaymentsSaleLeasebackTransactions
19102000 USD
CY2015Q4 us-gaap Present Value Of Future Minimum Lease Payments Sale Leaseback Transactions
PresentValueOfFutureMinimumLeasePaymentsSaleLeasebackTransactions
16483000 USD
CY2013Q4 us-gaap Present Value Of Future Minimum Lease Payments Sale Leaseback Transactions
PresentValueOfFutureMinimumLeasePaymentsSaleLeasebackTransactions
20000000 USD
CY2013 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
0 USD
CY2014 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
12356000 USD
CY2015 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
10763000 USD
CY2013 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
0 USD
CY2014 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
0 USD
CY2015 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-10815000 USD
CY2013 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
5310000 USD
CY2014 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
44000 USD
CY2015 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
180000 USD
CY2013 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
0 USD
CY2014 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
0 USD
CY2015 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
837000 USD
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
908000 USD
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1080000 USD
CY2015 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
694000 USD
CY2012Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2412000 USD
CY2013Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1194000 USD
CY2014Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1542000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1856000 USD
CY2013 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2311000 USD
CY2014 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1751000 USD
CY2015 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2847000 USD
CY2013 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1093000 USD
CY2014 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2099000 USD
CY2015 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2614000 USD
CY2013 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
17172000 USD
CY2014 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
12401000 USD
CY2015 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
9519000 USD
CY2014Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
118101000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
134239000 USD
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
52755000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
53234000 USD
CY2014Q3 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
45442000 USD
CY2015Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
52106000 USD
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
61620000 USD
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
83056000 USD
CY2015 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
90033000 USD
CY2015 us-gaap Restructuring Charges
RestructuringCharges
1850000 USD
CY2015Q4 us-gaap Restructuring Reserve
RestructuringReserve
1538000 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
354866000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
405505000 USD
CY2013 us-gaap Sales Revenue Net
SalesRevenueNet
534938000 USD
CY2013Q4 us-gaap Sales Revenue Net
SalesRevenueNet
79113000 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
114206000 USD
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
180517000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
194733000 USD
CY2014 us-gaap Sales Revenue Net
SalesRevenueNet
568569000 USD
CY2014Q4 us-gaap Sales Revenue Net
SalesRevenueNet
107438000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
145227000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
164634000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
119172000 USD
CY2015 us-gaap Sales Revenue Net
SalesRevenueNet
536471000 USD
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
119519000 USD
CY2014 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
113514000 USD
CY2015 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
131808000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Offering Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPriceOfferingDate
1
CY2015Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
147000 shares
CY2015Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
147000 shares
CY2015Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
8.17
CY2015Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
8.18
CY2015 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P2Y0M0D
CY2014Q3 us-gaap Short Term Investments
ShortTermInvestments
9105000 USD
CY2015Q4 us-gaap Short Term Investments
ShortTermInvestments
0 USD
CY2013 us-gaap Standard Product Warranty Accrual Additions From Business Acquisition
StandardProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2014 us-gaap Standard Product Warranty Accrual Additions From Business Acquisition
StandardProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2015 us-gaap Standard Product Warranty Accrual Additions From Business Acquisition
StandardProductWarrantyAccrualAdditionsFromBusinessAcquisition
547000 USD
CY2013 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
840000 USD
CY2014 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
809000 USD
CY2015 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
1049000 USD
CY2013 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2014 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2015 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
908000 USD
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1080000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
694000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
643667000 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
716665000 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
789242000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
771891000 USD
CY2014Q3 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
1067000 USD
CY2015Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
1645000 USD
CY2014Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
4998000 shares
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
11403000 shares
CY2014Q3 us-gaap Treasury Stock Value
TreasuryStockValue
46984000 USD
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
124856000 USD
CY2014 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
628000 USD
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
77872000 USD
CY2013 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2014 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2015 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6186000 USD
CY2013Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6869000 USD
CY2014Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7192000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7101000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
1802000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
394000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
5231000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2485000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
717000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
5140000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
6000000 USD
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76190000 shares
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75912000 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77021000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77605000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77925000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77292000 shares
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77432000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77570000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75891000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72883000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75659000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75132000 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75912000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76404000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76596000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76658000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76396000 shares
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76888000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76821000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75420000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72731000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75414000 shares
CY2015 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BASIS OF PRESENTATION</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These consolidated financial statements include the accounts of Kulicke and Soffa Industries, Inc. and its subsidiaries (the &#8220;Company&#8221;), with appropriate elimination of intercompany balances and transactions. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal Year</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Each of the Company's first three fiscal quarters ends on the Saturday that is 13 weeks after the end of the immediately preceding fiscal quarter. The fourth quarter of each fiscal year ends on the Saturday closest to September 30</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">th</sup></font><font style="font-family:inherit;font-size:10pt;">. In fiscal years consisting of 53 weeks, the fourth quarter will consist of 14 weeks. The </font><font style="font-family:inherit;font-size:10pt;">2015, 2014, and 2013</font><font style="font-family:inherit;font-size:10pt;"> fiscal years ended on </font><font style="font-family:inherit;font-size:10pt;">October&#160;3, 2015</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">September&#160;27, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">September&#160;28, 2013</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Nature of Business</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company designs, manufactures and sells capital equipment and expendable tools as well as services, maintains, repairs and upgrades equipment, all used to assemble semiconductor devices. The Company's operating results depend upon the capital and operating expenditures of semiconductor device manufacturers, outsourced semiconductor assembly and test providers (&#8220;OSATs&#8221;), and other electronics manufacturers, including automotive electronics suppliers, worldwide which, in turn, depend on the current and anticipated market demand for semiconductors and products utilizing semiconductors. The semiconductor industry is highly volatile and experiences downturns and slowdowns which can have a severe negative effect on the semiconductor industry's demand for semiconductor capital equipment, including assembly equipment manufactured and sold by the Company and, to a lesser extent, expendable tools, including those sold by the Company. These downturns and slowdowns have in the past adversely affected the Company's operating results. The Company believes such volatility will continue to characterize the industry and the Company's operations in the future.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements requires management to make assumptions, estimates and judgments that affect the reported amounts of assets and liabilities, net revenue and expenses during the reporting periods, and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. On an ongoing basis, management evaluates estimates, including but not limited to, those related to accounts receivable, reserves for excess and obsolete inventory, carrying value and lives of fixed assets, goodwill and intangible assets, valuation allowances for deferred tax assets and deferred tax liabilities, repatriation of un-remitted foreign subsidiary earnings, equity-based compensation expense, and warranties. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable. As a result, management makes judgments regarding the carrying values of its assets and liabilities that are not readily apparent from other sources. Authoritative pronouncements, historical experience and assumptions are used as the basis for making estimates, and on an ongoing basis, management evaluates these estimates. Actual results may differ from these estimates.</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Vulnerability to Certain Concentrations</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments which may subject the Company to concentrations of credit risk as of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">October&#160;3, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">September&#160;27, 2014</font><font style="font-family:inherit;font-size:10pt;"> consisted primarily of short-term investments and trade receivables. The Company manages credit risk associated with investments by investing its excess cash in highly rated debt instruments of the U.S. Government and its agencies, financial institutions, and corporations. The Company has established investment guidelines relative to diversification and maturities designed to maintain safety and liquidity. These guidelines are periodically reviewed and modified as appropriate. The Company does not have any exposure to sub-prime financial instruments or auction rate securities. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's trade receivables result primarily from the sale of semiconductor equipment, related accessories and replacement parts, and expendable tools to a relatively small number of large manufacturers in a highly concentrated industry. Write-offs of uncollectible accounts have historically not been significant; however, the Company monitors its customers' financial strength to reduce the risk of loss. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's products are complex and require raw materials, components and subassemblies having a high degree of reliability, accuracy and performance. The Company relies on subcontractors to manufacture many of these components and subassemblies and it relies on sole source suppliers for some important components and raw material inventory.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Foreign Currency Translation and Remeasurement</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The majority of the Company's business is transacted in U.S. dollars; however, the functional currencies of some of the Company's subsidiaries are their local currencies. In accordance with ASC No. 830, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign Currency Matters</font><font style="font-family:inherit;font-size:10pt;"> (&#8220;ASC 830&#8221;), for a subsidiary of the Company that has a functional currency other than the U.S. dollar, gains and losses resulting from the translation of the functional currency into U.S. dollars for financial statement presentation are not included in determining net income, but are accumulated in the cumulative translation adjustment account as a separate component of shareholders' equity (accumulated other comprehensive income (loss)). Under ASC 830, cumulative translation adjustments are not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. Gains and losses resulting from foreign currency transactions are included in the determination of net income.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's operations are exposed to changes in foreign currency exchange rates due to transactions denominated in currencies other than the location's functional currency. The Company is also exposed to foreign currency fluctuations that impact the remeasurement of net monetary assets of those operations whose functional currency, the U.S. dollar, differs from their respective local currencies, most notably in Israel, Malaysia, Singapore and Switzerland. In addition to net monetary remeasurement, the Company has exposures related to the translation of subsidiary financial statements from their functional currency, the local currency, into its reporting currency, the U.S. dollar, most notably in Netherlands, China, Taiwan, Japan and Germany. The Company's U.S. operations also have foreign currency exposure due to net monetary assets denominated in currencies other than the U.S. dollar.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Derivative Financial Instruments </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s primary objective for holding derivative financial instruments is to manage the fluctuation in foreign exchange rates and accordingly is not speculative in nature. The Company&#8217;s international operations are exposed to changes in foreign exchange rates as described above. The Company has established a program to monitor the forecasted transaction currency risk to protect against foreign exchange rate volatility. Generally, the Company uses foreign exchange forward contracts in these hedging programs. The instruments, which have maturities of up to six months, are recorded at fair value and are included in prepaid expenses and other current assets, or other accrued expenses and other current liabilities. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our accounting policy for derivative financial instruments is based on whether they meet the criteria for designation as a cash flow hedge. A designated hedge with exposure to variability in the functional currency equivalent of the future foreign currency cash flows of a forecasted transaction is referred to as a cash flow hedge. The criteria for designating a derivative as a cash flow hedge include the assessment of the instrument&#8217;s effectiveness in risk reduction, matching of the derivative instrument to its underlying transaction, and the assessment of the probability that the underlying transaction will occur. For derivatives with cash flow hedge accounting designation, we report the after-tax gain / (loss) from the effective portion of the hedge as a component of accumulated other comprehensive income / (loss) and reclassify it into earnings in the same period in which the hedged transaction affects earnings and in the same line item on the consolidated statement of income as the impact of the hedged transaction. Derivatives that we designate as cash flow hedges are classified in the consolidated statement of cash flows in the same section as the underlying item, primarily within cash flows from operating activities. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The hedge effectiveness of these derivative instruments is evaluated by comparing the cumulative change in the fair value of the hedge contract with the cumulative change in the fair value of the forecasted cash flows of the hedged item.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If a cash flow hedge is discontinued because it is no longer probable that the original hedged transaction will occur as previously anticipated, the cumulative unrealized gain or loss on the related derivative is reclassified from accumulated other comprehensive income / (loss) into earnings. Subsequent gain / (loss) on the related derivative instrument is recognized into earnings in each period until the instrument matures, is terminated, is re-designated as a qualified cash flow hedge, or is sold. Ineffective portions of cash flow hedges, as well as amounts excluded from the assessment of effectiveness, are recognized in earnings.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Cash Equivalents </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. Cash equivalents are measured at fair value based on level one measurement, or quoted market prices, as defined by ASC No. 820, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurements and Disclosures</font><font style="font-family:inherit;font-size:10pt;">. As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">October&#160;3, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">September&#160;27, 2014</font><font style="font-family:inherit;font-size:10pt;">, fair value approximated the cost basis for cash equivalents. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Investments </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investments, other than cash equivalents, are classified as &#8220;trading,&#8221; &#8220;available-for-sale&#8221; or &#8220;held-to-maturity,&#8221; in accordance with ASC No. 320, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Investments-Debt &amp; Equity Securities</font><font style="font-family:inherit;font-size:10pt;">, and depending upon the nature of the investment, its ultimate maturity date in the case of debt securities, and management's intentions with respect to holding the securities. Investments classified as &#8220;trading&#8221; are reported at fair market value, with unrealized gains or losses included in earnings. Investments classified as &#8220;available-for-sale&#8221; are reported at fair market value, with net unrealized gains or losses reflected as a separate component of shareholders' equity (accumulated other comprehensive income (loss)). The fair market value of trading and available-for-sale securities is determined using quoted market prices at the balance sheet date. Investments classified as held-to-maturity are reported at amortized cost. Realized gains and losses are determined on the basis of specific identification of the securities sold.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Allowance for Doubtful Accounts</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company maintains allowances for doubtful accounts for estimated losses resulting from its customers' failure to make required payments. If the financial condition of the Company's customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. The Company is also subject to concentrations of customers and sales to a few geographic locations, which could also impact the collectability of certain receivables. If global or regional economic conditions deteriorate or political conditions were to change in some of the countries where the Company does business, it could have a significant impact on the results of operations, and the Company's ability to realize the full value of its accounts receivable.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Inventories</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Inventories are stated at the lower of cost (on a first-in first-out basis) or market value. The Company generally provides reserves for obsolete inventory and for inventory considered to be in excess of demand. Demand is generally defined as </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">18 months</font><font style="font-family:inherit;font-size:10pt;"> forecasted future consumption for equipment, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">24 months</font><font style="font-family:inherit;font-size:10pt;"> forecasted future consumption for spare parts, and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">12 months</font><font style="font-family:inherit;font-size:10pt;"> forecasted future consumption for expendable tools. Forecasted consumption is based upon internal projections, historical sales volumes, customer order activity and a review of consumable inventory levels at customers' facilities. The Company communicates forecasts of its future consumption to its suppliers and adjusts commitments to those suppliers accordingly. If required, the Company reserves the difference between the carrying value of its inventory and the lower of cost or market value, based upon assumptions about future consumption, and market conditions. If actual market conditions are less favorable than projections, additional inventory reserves may be required.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The inventory reserve provision for the acquired business, Assembl&#233;on B.V. (&#8220;Assembl&#233;on&#8221;), is determined based on management's estimate of future consumption for equipment and spare parts. This estimate is based on historical sales volumes, internal projections and market developments and trends. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Property, Plant and Equipment </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property, plant and equipment are carried at cost. The cost of additions and those improvements which increase the capacity or lengthen the useful lives of assets are capitalized while repair and maintenance costs are expensed as incurred. Depreciation and amortization are provided on a straight-line basis over the estimated useful lives as follows: buildings </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">25 years</font><font style="font-family:inherit;font-size:10pt;">; machinery and equipment </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">3</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">10 years</font><font style="font-family:inherit;font-size:10pt;">; and leasehold improvements are </font><font style="font-family:inherit;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">based on the shorter of the life of lease or life of asset</font></font><font style="font-family:inherit;font-size:10pt;">. </font><font style="font-family:inherit;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Purchased computer software costs related to business and financial systems are amortized over a five-year period on a straight-line basis.</font></font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Valuation of Long-Lived Assets </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 360, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Property, Plant &amp; Equipment</font><font style="font-family:inherit;font-size:10pt;"> ("ASC 360"), the Company's property, plant and equipment is tested for impairment based on undiscounted cash flows when triggering events occur, and if impaired, written-down to fair value based on either discounted cash flows or appraised values. ASC 360 also provides a single accounting model for long-lived assets to be disposed of by sale and establishes additional criteria that would have to be met to classify an asset as held for sale. The carrying amount of an asset or asset group is not recoverable to the extent it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group. Estimates of future cash flows used to test the recoverability of a long-lived asset or asset group must incorporate the entity's own assumptions about its use of the asset or asset group and must factor in all available evidence.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASC 360 requires that long-lived assets be tested for recoverability whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Such events include significant under-performance relative to historical internal forecasts or projected future operating results; significant changes in the manner of use of the assets; significant negative industry or economic trends; and significant changes in market capitalization. During the fiscal years ended </font><font style="font-family:inherit;font-size:10pt;">October&#160;3, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">September&#160;27, 2014</font><font style="font-family:inherit;font-size:10pt;">, no triggering events occurred. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Accounting for Impairment of Goodwill</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company operates two reportable segments: Equipment and Expendable Tools. Goodwill was recorded for the acquisitions of Orthodyne Electronics Corporation ("Orthodyne") and Assembl&#233;on in 2009 and 2015, respectively.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounting Standard Update 2011-08, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Testing Goodwill for Impairment (&#8220;ASU 2011-08&#8221;),</font><font style="font-family:inherit;font-size:10pt;"> provides companies with the option to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value.&#160;If, after assessing the qualitative factors, a company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying value, then performing the two-step impairment test is unnecessary.&#160;However, if a company concludes otherwise, then it is required to perform the first step of the two-step goodwill impairment test.&#160;If the carrying value of a reporting unit exceeds its fair value in the first step of the test, then a company is required to perform the second step of the goodwill impairment test to measure the amount of the reporting unit&#8217;s goodwill impairment loss, if any.&#160; </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In fiscal 2014 and 2015, the Company chose to bypass the qualitative assessment and proceed directly to performing the quantitative evaluation of the fair value of the reporting unit, to compare against the carrying value of the reporting unit. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As part of the annual evaluation, the Company performs an impairment test of its goodwill in the fourth quarter of each fiscal year to coincide with the completion of its annual forecasting and refreshing of its business outlook processes. On an ongoing basis, the Company monitors if a "triggering" event has occurred that may have the effect of reducing the fair value of a reporting unit below its respective carrying value. Adverse changes in expected operating results and/or unfavorable changes in other economic factors used to estimate fair values could result in a non-cash impairment charge in the future. As of </font><font style="font-family:inherit;font-size:10pt;">October&#160;3, 2015</font><font style="font-family:inherit;font-size:10pt;">, no triggering events have occurred.&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Impairment assessments inherently involve judgment as to the assumptions made about the expected future cash flows and the impact of market conditions on those assumptions. Future events and changing market conditions may impact the assumptions as to prices, costs, growth rates or other factors that may result in changes in our estimates of future cash flows. Although the Company believes the assumptions that it has used in testing for impairment are reasonable, significant changes in any one of the assumptions could produce a significantly different result. Indicators of potential impairment may lead the Company to perform interim goodwill impairment assessments, including significant and unforeseen customer losses, a significant adverse change in legal factors or in the business climate, a significant adverse action or assessment by a regulator, a significant stock price decline or unanticipated competition. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For further information on goodwill and other intangible assets, see Note 5 below.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 605, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font><font style="font-family:inherit;font-size:10pt;">, the Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, the collectability is reasonably assured, and customer acceptance, when applicable, has been received or we otherwise have been released from customer acceptance obligations. If terms of the sale provide for a customer acceptance period, revenue is recognized upon the expiration of the acceptance period or customer acceptance, whichever occurs first. The Company&#8217;s standard terms are </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ex works</font><font style="font-family:inherit;font-size:10pt;"> (the Company&#8217;s factory), with title transferring to its customer at the Company&#8217;s loading dock or upon embarkation. The Company has a small percentage of sales with other terms, and revenue is recognized in accordance with the terms of the related customer purchase order. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shipping and handling costs billed to customers are recognized in net revenue. Shipping and handling costs paid by the Company are included in cost of sales.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Research and Development </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company charges research and development costs associated with the development of new products to expense when incurred. In certain circumstances, pre-production machines which the Company intends to sell are carried as inventory until sold.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Income Taxes</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 740, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes</font><font style="font-family:inherit;font-size:10pt;">, deferred income taxes are determined using the liability method</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">. </font><font style="font-family:inherit;font-size:10pt;">The Company records a valuation allowance to reduce its deferred tax assets to the amount it expects is more likely than not to be realized. While the Company has considered future taxable income and its ongoing tax planning strategies in assessing the need for the valuation allowance, if it were to determine that it would be able to realize its deferred tax assets in the future in excess of its net recorded amount, an adjustment to the deferred tax asset would increase income in the period such determination was made. Likewise, should the Company determine it would not be able to realize all or part of its net deferred tax assets in the future, an adjustment to the deferred tax asset would decrease income in the period such determination was made. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 740 Topic 10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes, General </font><font style="font-family:inherit;font-size:10pt;">(&#8220;ASC 740.10&#8221;), the Company accounts for uncertain tax positions taken or expected to be taken in its income tax return. Under ASC 740.10, the Company utilizes a two-step approach for evaluating uncertain tax positions. Step one, or recognition, requires a company to determine if the weight of available evidence indicates a tax position is more likely than not to be sustained upon audit, including resolution of related appeals or litigation processes, if any. Step two, or measurement, is based on the largest amount of benefit, which is more likely than not to be realized on settlement with the taxing authority.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Equity-Based Compensation </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company accounts for equity-based compensation under the provisions of ASC No. 718,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Compensation - Stock Compensation</font><font style="font-family:inherit;font-size:10pt;"> (&#8220;ASC 718&#8221;). ASC 718 requires the recognition of the fair value of the equity-based compensation in net income. Compensation expense associated with market-based restricted stock is determined using a Monte-Carlo valuation model, and compensation expense associated with time-based and performance-based restricted stock is determined based on the number of shares granted and the fair value on the date of grant. The fair value of the Company's stock option awards are estimated using a Black-Scholes option valuation model. In addition, the calculation of equity-based compensation costs requires that the Company estimate the number of awards that will be forfeited during the vesting period. The fair value of equity-based awards is amortized over the vesting period of the award and the Company elected to use the straight-line method for awards granted after the adoption of ASC 718.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Earnings per Share </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Earnings per share (&#8220;EPS&#8221;) are calculated in accordance with ASC No. 260,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Earnings per Share</font><font style="font-family:inherit;font-size:10pt;">. Basic EPS include only the weighted average number of common shares outstanding during the period. Diluted EPS includes the weighted average number of common shares and the dilutive effect of stock options, restricted stock and share unit awards and convertible subordinated notes outstanding during the period, when such instruments are dilutive.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 260.10.55, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Earnings per Share - Implementation &amp; Guidance</font><font style="font-family:inherit;font-size:10pt;">, the Company treats all outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends as participating in undistributed earnings with common shareholders. Awards of this nature are considered participating securities and the two-class method of computing basic and diluted EPS must be applied. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Accounting for Business Acquisitions</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company accounts for business acquisitions in accordance with ASC No. 805,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Business Combinations</font><font style="font-family:inherit;font-size:10pt;">. The fair value of the net assets acquired and the results of operations of the acquired businesses are included in the Company's Consolidated Financial Statements from the acquisition date forward. The Company is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and results of operations during the reporting period. Estimates are used in accounting for, among other things, the fair value of acquired net operating assets, property, plant and equipment, deferred revenue, intangible assets and related deferred tax liabilities, useful lives of plant and equipment, and amortizable lives of acquired intangible assets. Any excess of the purchase consideration over the identified fair value of the assets and liabilities acquired is recognized as goodwill. The valuation of these tangible and identifiable intangible assets and liabilities is subject to further management review and may change materially between the preliminary allocation and end of the purchase price allocation period.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Restructuring charges</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Restructuring charges may consist of voluntary or involuntary severance-related charges, asset-related charges and other costs due to exit activities. We recognize voluntary termination benefits when an employee accepts the offered benefit arrangement. We recognize involuntary severance-related charges depending on whether the termination benefits are provided under an ongoing benefit arrangement or under a one-time benefit arrangement. If the former, we recognize the charges once they are probable and the amounts are estimable. If the latter, we recognize the charges once the benefits have been communicated to employees.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Accounting Standards Codification (&#8220;ASC&#8221;) 605, Revenue Recognition. The new standard provides for a single five-step model to be applied to all revenue contracts with customers. The new standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. There is no option for early adoption. In July 2015, the FASB decided to delay the effective date of the new revenue standard by one year. Under the proposal, the new guidance will be effective as of the beginning of our 2018 fiscal year. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected a transition approach to implement the standard.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2015, the FASB issued ASU 2015-02 &#8211;&#160;Amendments to the Consolidation Analysis, which amends the consolidation requirements in ASC 810&#160;Consolidation.&#160;ASU 2015-02 makes targeted amendments to the current consolidation guidance for VIEs, which could change consolidation conclusions.&#160; This ASU will be effective for us beginning in our first quarter of 2017 and early adoption is permitted.&#160; We are evaluating the effects of the adoption of this ASU on our financial statements.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the FASB issued ASU 2015-05, which provides additional guidance to customers about whether a cloud computing arrangement includes a software license. Under ASU 2015-05, if a software cloud computing arrangement contains a software license, customers should account for the license element of the arrangement in a manner consistent with the acquisition of other software licenses. If the arrangement does not contain a software license, customers should account for the arrangement as a service contract. ASU 2015-05 also removes the requirement to analogize to ASC 840-10&#160;&#8211;&#160;Leases&#160;to determine the asset acquired in a software licensing arrangement. This ASU will be effective for us beginning in our first quarter of 2017 and early adoption is permitted.&#160; We are evaluating the effects of the adoption of this ASU on our financial statements.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory, which requires that inventory be measured at the lower of cost or net realizable value rather than the lower of cost or market. This standard must be applied on a prospective basis, and is effective for annual and interim reporting periods beginning January 1, 2017. Since early adoption is permitted, we adopted this standard in the fourth quarter of 2015. The adoption of this standard did not have a material impact on our financial statements.</font></div></div>
CY2015 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal Year</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Each of the Company's first three fiscal quarters ends on the Saturday that is 13 weeks after the end of the immediately preceding fiscal quarter. The fourth quarter of each fiscal year ends on the Saturday closest to September 30</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">th</sup></font><font style="font-family:inherit;font-size:10pt;">. In fiscal years consisting of 53 weeks, the fourth quarter will consist of 14 weeks. The </font><font style="font-family:inherit;font-size:10pt;">2015, 2014, and 2013</font><font style="font-family:inherit;font-size:10pt;"> fiscal years ended on </font><font style="font-family:inherit;font-size:10pt;">October&#160;3, 2015</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">September&#160;27, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">September&#160;28, 2013</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div>
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements requires management to make assumptions, estimates and judgments that affect the reported amounts of assets and liabilities, net revenue and expenses during the reporting periods, and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. On an ongoing basis, management evaluates estimates, including but not limited to, those related to accounts receivable, reserves for excess and obsolete inventory, carrying value and lives of fixed assets, goodwill and intangible assets, valuation allowances for deferred tax assets and deferred tax liabilities, repatriation of un-remitted foreign subsidiary earnings, equity-based compensation expense, and warranties. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable. As a result, management makes judgments regarding the carrying values of its assets and liabilities that are not readily apparent from other sources. Authoritative pronouncements, historical experience and assumptions are used as the basis for making estimates, and on an ongoing basis, management evaluates these estimates. Actual results may differ from these estimates.</font></div></div>

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