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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Apr. 02, 2016

Accounting Policies [Abstract]

Basic and Diluted Net Income Per Share

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

	Three Months Ended
	(In thousands, except per share amounts)
	April 2, 2016				March 28, 2015
Net income	$	3,932			$	4,754
Weighted-average shares outstanding	29,004				29,653
Dilutive effect of employee stock options and restricted shares	470				577
Diluted weighted-average shares outstanding	29,474				30,230
Basic income per share	$	0.14			$	0.16
Diluted income per share	$	0.13			$	0.16

Fair Value Assets Measured on Recurring Basis

The Company’s financial assets measured at fair value on a recurring basis at April 2, 2016, were as follows:

	Fair Value Measurements as of April 2, 2016
	Level 1				Level 2				Level 3
	(In thousands)
Description
Assets:
Cash and cash equivalents
Money market funds	$	103,470			$	—			$	—
Short term investments
Corporate and government bonds (1)	—				30,746				—
Other current assets
Derivative instruments (Note 6) (2)	—				11				—
Total assets measured at fair value	$	103,470			$	30,757			$	—

The Company’s financial assets and liabilities measured at fair value on a recurring basis at January 2, 2016, were as follows:

	Fair Value Measurements as of January 2, 2016
	Level 1				Level 2				Level 3
	(In thousands)
Description
Assets:
Cash and cash equivalents
Money market funds	$	110,817			$	—			$	—
Short term investments
Corporate and government bonds (1)	—				33,124				—
Total assets measured at fair value	$	110,817			$	33,124			$	—
Liabilities:
Accrued Expenses
Derivative instruments (Note 6) (2)	$	—			$	28			$	—
Total liabilities measured at fair value	$	—			$	28			$	—

(1) The bond investments are valued based on observable market values as of the Company’s reporting date. The bond investments are recorded at fair value and marked-to-market at the end of each reporting period. The realized and unrealized gains and losses are included in comprehensive income for that period.

(2) Derivative instruments are valued using an income approach based on the present value of the forward rate less the contract rate multiplied by the notional amount.

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- References

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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