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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 02, 2016

Valuation and Qualifying Accounts Disclosure [Line Items]

Components of available for sale securities

The fair value of investments is determined based on quoted market prices at the reporting date for those instruments. As of January 2, 2016 and December 27, 2014, investments consisted of:

	January 2, 2016								December 27, 2014
	Cost				Fair Market Value				Cost				Fair Market Value
	(In thousands)
Corporate and government bonds	$	33,622			$	33,124			$	36,659			$	36,166
Total short term investments	$	33,622			$	33,124			$	36,659			$	36,166

Activity related to allowance for doubtful accounts

Activity related to the allowance for doubtful accounts was as follows:

	Fiscal Year Ended
	January 2, 2016				December 27, 2014				December 28, 2013
	(In thousands)
Balance at beginning of period	$	67			$	67			$	111
Provision	—				—				—
Deduction(*)	(34		)		—				(44		)
Balance at end of period	$	33			$	67			$	67

___________________________   

(*) Deductions related to allowance for doubtful accounts represent amounts written off against the allowance, less recoveries.

Activity related to Inventory reserve

The table below summarizes activity relating to the valuation allowance:

Fiscal Year Ended	Balance at beginning  of period				Additions Charged to Costs and Expenses			Additions Charged to Goodwill			Deductions			Balance at End of Period
	(In thousands)
December 28, 2013	$	2,691			—			—			601			$	2,090
December 27, 2014	$	2,090			—			—			2,090			$	—
January 2, 2016	$	—			—			—			—			$	—

Property and equipment

Depreciation is computed using the straight-line method over the estimated useful lives as follows:

	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	Lesser of economic benefit period or term of lease

Property and equipment consists of the following at:

	January 2, 2016				December 27, 2014
	(In thousands)
Computer and equipment	$	13,825			$	15,173
Furniture	2,441				2,297
Machinery	7,134				5,307
Tooling	16,599				18,614
Leasehold improvements	21,022				20,833
Business applications software	8,559				8,214
	69,580				70,438
Less: accumulated depreciation	42,730				39,141
	$	26,850			$	31,297

Basic and diluted net income per share

The following table presents the calculation of both basic and diluted net income per share:

	Fiscal Year Ended
	January 2, 2016				December 27, 2014				December 28, 2013
Net income	$	44,130			$	37,803			$	27,641
Weighted-average shares outstanding	29,550				29,485				28,495
Dilutive effect of employee stock options and restricted shares	557				725				859
Diluted weighted-average shares outstanding	30,107				30,210				29,354
Basic income per share	$	1.49			$	1.28			$	0.97
Diluted income per share	$	1.47			$	1.25			$	0.94

Inventory Valuation Reserve [Member]

Valuation and Qualifying Accounts Disclosure [Line Items]

Activity related to Inventory reserve

Activity related to the inventory reserve was as follows:

	Fiscal Year Ended
	January 2, 2016				December 27, 2014				December 28, 2013
	(In thousands)
Balance at beginning of period	$	5,251			$	5,280			$	6,608
Provision	424				1,045				1,571
Deduction(*)	(1,753		)		(1,074		)		(2,899		)
Balance at end of period	$	3,922			$	5,251			$	5,280

 ___________________________

(*) Deductions related to inventory reserve accounts represent amounts written off against the reserve.

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