XML 142 R19.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Equity and Stock Based Compensation Plans | 6 Months Ended
--- | ---
Jun. 29, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Equity and Stock Based Compensation Plans | Equity and Stock Based Compensation Plans Options The fair value of each option award is estimated on the date of grant using the Black-Scholes valuation model and the assumptions noted in the following table. The expected term of options granted was calculated using the simplified method. The risk-free rate is based on the U.S. Treasury rates in effect during the corresponding period of grant. The expected volatility is based on the historical volatility of Nanometrics’ stock price. The dividend yield reflects that the Company has not paid any cash dividends since inception and does not intend to pay any cash dividends in the foreseeable future.
| Three Months Ended |  | Six Months Ended
| June 29, 2013 |  | June 30, 2012 |  | June 29, 2013 |  | June 30, 2012
Stock Options |  |  |  |  |  |  |
Expected life | 4.6 years |  |  | 4.2 years |  |  | 4.5 years |  |  | 4.5 years |
Volatility | 68.90 | % |  | 78.65 | % |  | 72.32 | % |  | 78.23 | %
Risk free interest rate | 1.02 | % |  | 0.74 | % |  | 0.90 | % |  | 0.85 | %
Dividends | — |  |  | — |  |  | — |  |  | — |
Employee Stock Purchase Plan |  |  |  |  |  |  |
Expected life | 0.5 years |  |  | 0.5 years |  |  | 0.5 years |  |  | 0.5 years |
Volatility | 25.94 | % |  | 55.93 | % |  | 27.61 | % |  | 62.74 | %
Risk free interest rate | 0.10 | % |  | 0.06 | % |  | 0.11 | % |  | 0.06 | %
Dividends | — |  |  | — |  |  | — |  |  | — |
The weighted average fair value per share of the stock options awarded in the three month periods ended June 29, 2013, and June 30, 2012, was $7.94 and $8.80, respectively, and in the six month periods ended June 29, 2013, and June 30, 2012, was $8.70 and $10.66, respectively, based on the fair market value of the Company’s common stock on the grant dates. A summary of activity under the Company’s stock option plans during the six month period ended June 29, 2013, is as follows:
| Number of Shares Outstanding (Options) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in Thousands)
Options |  |  |  |  |  |  |
Outstanding at December 29, 2012 | 2,020,319 |  |  | $ | 12.01 |  |  | 4.44 |  |  | $ | 6,770 |
Exercised | (181,617 | ) |  | 7.15 |  |  |  |  |
Granted | 314,100 |  |  | 15.31 |  |  |  |  |
Cancelled | (67,037 | ) |  | 14.63 |  |  |  |  |
Outstanding at June 29, 2013 | 2,085,765 |  |  | $ | 12.85 |  |  | 4.35 |  |  | $ | 5,757 |
Exercisable at June 29, 2013 | 1,234,828 |  |  | $ | 11.25 |  |  | 3.56 |  |  | $ | 5,127 |
The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on the Company’s closing stock price of $14.67 as of June 29, 2013, which would have been received by the option holders had all option holders exercised their options as of that date. The total intrinsic value of options exercised during the three month periods ended June 29, 2013, and June 30, 2012, was $0.6 million and $0.7 million, respectively. The total intrinsic value of options exercised during the six month periods ended June 29, 2013, and June 30, 2012, was $1.4 million and $3.4 million, respectively. Restricted Stock Units ("RSUs") A summary of activity for RSUs during the six month period ended June 29, 2013, is as follows:
| Number of RSUs |  | Weighted Average Fair Value
Outstanding RSU as of December 29, 2012 | 235,162 |  |  | $ | 16.32 |
Granted | 286,060 |  |  | 15.43 |
Released | (29,739 | ) |  | 14.62 |
Cancelled | (8,518 | ) |  | 14.27 |
Outstanding RSU as of June 29, 2013 | 482,965 |  |  | $ | 14.67 |
Stock-based Compensation Expense Stock-based compensation expense for all share-based payment awards made to the Company’s employees and directors pursuant to the employee stock option and employee stock purchase plans by function were as follows (in thousands):
| Three Months Ended |  | Six Months Ended
| June 29, 2013 |  | June 30, 2012 |  | June 29, 2013 |  | June 30, 2012
Cost of products | $ | 53 |  |  | $ | 20 |  |  | $ | 98 |  |  | $ | 77 |
Cost of service | 71 |  |  | 75 |  |  | 130 |  |  | 133 |
Research and development | 362 |  |  | 347 |  |  | 679 |  |  | 666 |
Selling | 501 |  |  | 481 |  |  | 941 |  |  | 922 |
General and administrative | 764 |  |  | 670 |  |  | 1,360 |  |  | 1,256 |
Total stock-based compensation expense | $ | 1,751 |  |  | $ | 1,593 |  |  | $ | 3,208 |  |  | $ | 3,054 |
Other Comprehensive Income The following table shows a summary of changes in accumulated other comprehensive income by component for the six months ended June 29, 2013 (in thousands):
| Defined Benefit Pension Plans |  | Foreign Currency Translations |  | Unrealized Gain (Loss) on Investment |  | Total
Balance as of December 29, 2012 | $ | (179 | ) |  | $ | 1,453 |  |  | $ | (2 | ) |  | $ | 1,272 |
Other comprehensive income | — |  |  | (1,979 | ) |  | (3 | ) |  | (1,982 | )
Balance as of June 29, 2013 | $ | (179 | ) |  | $ | (526 | ) |  | $ | (5 | ) |  | $ | (710 | )

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Also includes disclosure of compensation-related costs for equity-based compensation which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details, and employee stock purchase plan details. + References No definition available. + Details
Name: | us-gaap_ShareholdersEquityAndShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration