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Note 3 - Revenue From Contracts With Customers
 6 Months Ended
Jul. 03, 2021
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

Note 3 - Revenue from Contracts with Customers

 

Disaggregation of revenue

 

The following tables provide information about revenue from contracts with customers disaggregated by major class of revenue, revenue by channel, and by geographical market, based on ship-to location of the customer:

 

  

Three Months Ended

  

Six Months Ended

 

Major Class of Revenue

 

July 3,

  

June 27,

  

July 3,

  

June 27,

 

(In thousands)

 

2021

  

2020

  

2021

  

2020

 

Product

 $122,536   97% $95,996   96% $234,128   97% $189,221   96%

Licensing and services

  3,369   3%  4,593   4%  7,493   3%  8,684   4%

Total revenue

 $125,905   100% $100,589   100% $241,621   100% $197,905   100%
                                 

Revenue by Channel

                                

(In thousands)

                                

Product revenue - Distributors

 $111,168   88% $85,152   85% $209,947   87% $160,607   81%

Product revenue - Direct

  11,368   9%  10,844   11%  24,181   10%  28,614   15%

Licensing and services revenue

  3,369   3%  4,593   4%  7,493   3%  8,684   4%

Total revenue

 $125,905   100% $100,589   100% $241,621   100% $197,905   100%
                                 

Revenue by Geographical Market

                                

(In thousands)

                                

United States

 $11,672   9% $9,860   10% $20,782   9% $23,179   12%

Other Americas

  6,154   5%  4,647   4%  12,887   5%  7,915   4%

Americas

  17,826   14%  14,507   14%  33,669   14%  31,094   16%

China

  64,821   52%  52,465   52%  131,940   54%  95,964   48%

Taiwan

  6,577   5%  7,593   8%  9,391   4%  17,452   9%

Japan

  8,836   7%  6,435   6%  16,613   7%  14,434   7%

Other Asia

  16,221   13%  8,067   8%  26,901   11%  15,403   8%

Asia

  96,455   77%  74,560   74%  184,845   76%  143,253   72%

Europe

  11,624   9%  11,522   12%  23,107   10%  23,558   12%

Total revenue

 $125,905   100% $100,589   100% $241,621   100% $197,905   100%

 

Contract balances

 

Our contract assets relate to our rights to consideration for licenses and royalties due to us as a member of the HDMI Founders consortium, with collection dependent on events other than the passage of time, such as collection of licenses and royalties from customers by the HDMI licensing agent. The balance results primarily from the amount of estimated revenue related to HDMI that we have recognized to date, but which has not yet been collected by the agent. Contract assets are included in Prepaid expenses and other current assets on our Consolidated Balance Sheets. The following table summarizes activity during the first six months of fiscal 2021:

 

(In thousands)

    

Contract assets as of January 2, 2021

 $5,611 

Revenues recorded during the period

  7,191 

Transferred to Accounts receivable or collected

  (7,568)

Contract assets as of July 3, 2021

 $5,234 

 

Contract liabilities are included in Accrued expenses on our Consolidated Balance Sheets. The following table summarizes activity during the first six months of fiscal 2021:

 

(In thousands)

    

Contract liabilities as of January 2, 2021

 $3,068 

Accruals for estimated future stock rotation and scrap returns

  3,550 

Less: Release of accruals for recognized stock rotation and scrap returns

  (1,831)

Contract liabilities as of July 3, 2021

 $4,787