v2.4.0.6
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2011
Summary of Significant Accounting Policies [Abstract]  
Components of available for sale securities
                                 
    December 31,
2011
    January 1,
2011
 
    Cost     Fair
Market Value
    Cost     Fair
Market Value
 
    (In thousands)  

Corporate bond

  $ 15,654     $ 15,309     $ 11,465     $ 11,424  

U.S. Government bond

    2,500       2,502       2,498       2,504  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total short term investments

  $ 18,154     $ 17,811     $ 13,963     $ 13,928  
   

 

 

   

 

 

   

 

 

   

 

 

 
Activity related to allowance for doubtful accounts
                         
    Fiscal Year Ended  
    December 31,
2011
    January 1,
2011
    January 2,
2010
 
    (In thousands)  

Balance at beginning of period

  $ 88     $ 90     $ 65  

Provision

                32  

Deduction(*)

    (1     (2     (7
   

 

 

   

 

 

   

 

 

 

Balance at end of period

  $ 87     $ 88     $ 90  
   

 

 

   

 

 

   

 

 

 
Activity related to Inventory reserve
                         
    Fiscal Year Ended  
    December 31,
2011
    January 1,
2011
    January 2,
2010
 
    (In thousands)  

Balance at beginning of period

  $ 2,836     $ 3,713     $ 2,770  

Provision

    411       677       2,117  

Deduction(*)

    (679     (1,554     (1,174
   

 

 

   

 

 

   

 

 

 

Balance at end of period

  $ 2,568     $ 2,836     $ 3,713  
   

 

 

   

 

 

   

 

 

 

 

 

  (*) Deductions related to inventory reserve accounts represent amounts written off against the reserve.
Property and Equipment
     
    Estimated
Useful Life

Computer and research equipment

  3 years

Furniture

  5

Machinery

  2-5

Tooling

  2-5

Business applications software

  5-7

Capital leases and leasehold improvements

  Term of lease
                 
    December 31,
2011
    January 1,
2011
 
    (In thousands)  

Computer and equipment

  $ 17,616     $ 16,852  

Furniture

    2,732       2,484  

Machinery

    3,375       1,981  

Tooling

    7,303       5,213  

Leasehold improvements

    15,459       13,532  

Software purchased for internal use

    8,338       5,771  
   

 

 

   

 

 

 
      54,823       45,833  

Less: accumulated depreciation

    25,794       20,213  
   

 

 

   

 

 

 
    $ 29,029     $ 25,620  
   

 

 

   

 

 

 
Basic and Diluted Net Income Per Share
                         
    Fiscal Year Ended  
    December 31,
2011
    January 1,
2011
    January 2,
2010
 

Net income

  $ 40,191     $ 25,514     $ 3,330  
   

 

 

   

 

 

   

 

 

 

Weighted-average shares outstanding

    26,712       25,394       24,998  

Dilutive effect of employee stock options and restricted shares

    1,212       1,074       642  
   

 

 

   

 

 

   

 

 

 

Diluted weighted average shares outstanding

    27,924       26,468       25,640  
   

 

 

   

 

 

   

 

 

 

Basic income per share

  $ 1.50     $ 1.00     $ 0.13  

Diluted income per share

  $ 1.44     $ 0.96     $ 0.13  
Fair Value Assets Measured on Recurring Basis

The Company’s assets measured at fair value on a recurring basis at December 31, 2011, were as follows:

 

                         
    Fair Value Measurements as of
December 31, 2011
 

Description

  Level 1     Level 2     Level 3  
    (In thousands)  

Assets:

                       

Money Market Funds

  $ 117,196     $     $  

U.S. Government bonds

          2,502        

Corporate bonds

          15,309        
   

 

 

   

 

 

   

 

 

 

Total assets measured at fair value

  $ 117,196     $ 17,811     $  
   

 

 

   

 

 

   

 

 

 

The Company’s assets measured at fair value on a recurring basis at January 1, 2011, were as follows:

 

                         
    Fair Value Measurements as of
January 1, 2011
 

Description

  Level 1     Level 2     Level 3  
    (In thousands)  

Assets:

                       

Money Market Funds

  $ 5,090     $     $  

U.S. Government bonds

          2,504        

Corporate bonds

          11,424        
   

 

 

   

 

 

   

 

 

 

Total assets measured at fair value

  $ 5,090     $ 13,928     $