XML 51 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
OTHER ASSETS AND AMOUNTS DUE TO / FROM AFFILIATES
 3 Months Ended
Mar. 29, 2014
Other Assets and Related Party Transactions Disclosure [Abstract]  
OTHER ASSETS AND AMOUNTS DUE TO / FROM AFFILIATES
OTHER ASSETS AND NOTE RECEIVABLE
The Company has an approximate 12% ownership interest in KoBrite at March 29, 2014. The Company accounts for its interest using the equity method and at March 29, 2014 the carrying value of the investment was $1.3 million. One of the Company’s directors is a member of the Board of Directors of Bright LED, principal investor of KoBrite.
Summarized income statements for KoBrite for the three month periods ended March 29, 2014 and March 30, 2013 are as follows. KoBrite's results are recorded one quarter in arrears and therefore KoBrite's results included in the three month periods ended March 29, 2014 and March 30, 2013 are for the three month periods ended December 28, 2013 and December 29, 2012, respectively.
 
Three Months Ended
 
March 29,
2014
 
March 30,
2013
Revenue
$
877,000

 
$
1,063,000

Gross margin
(519,000
)
 
(565,000
)
Loss from operations
(1,001,000
)
 
(987,000
)
Net loss
(872,000
)
 
(844,000
)

The Company has recorded a $14.9 million note receivable resulting from the sale of its III-V product line and its investment in KTC which is due January 16, 2016. The receivable is collateralized by certain assets of the buyer of III-V product line. The buyer has outstanding debt and the repayment of the receivable is subject to the buyer remaining within its debt compliance obligations at the time of repayment.