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Fair Value Measurements (Tables)

3 Months Ended

Mar. 29, 2014

Financial Assets and Liabilities Measured and Recognized at Fair Value on a Recurring Basis

As of March 29, 2014 and December 28, 2013, financial assets and liabilities measured and recognized at fair value on a recurring basis and classified under the appropriate level of the fair value hierarchy as described above were as follows:

	March 29, 2014														December 28, 2013
	Fair Value Measurements														Fair Value Measurements
(in thousands)	Level 1				Level 2		Level 3				Total				Level 1				Level 2				Level 3				Total
Assets:
Money market funds	$	13,044			—			—			$	13,044			$	12,742				—				—			$	12,742
Liabilities:
Earn-out liability		—			—		$	629			$	629			$	—				—			$	624			$	624

Quantitative Information about the Inputs and Valuation Methodologies Used for Fair Value Measurements

The following table presents quantitative information about the inputs and valuation methodologies used for our fair value measurements classified in Level 3 of the fair value hierarchy as of March 29, 2014.

As of March 29, 2014		Fair Value (in thousands)		Valuation Technique		Significant Unobservable Input		Weighted Average (range)
Earn-out liability		$629		Discounted cash flow		Projected royalties (in thousands)		$1,666 ($414 - $1,917)
						Discount rate		21.40% (20.28% - 27.00%)

Reconciliation of the Changes in the Company's Earn-Out - Cash (Level 3 Liabilities) Balance

A reconciliation of the changes in the Company’s earn-out liability (Level 3 liability) for the three months ended March 29, 2014 and March 30, 2013 is as follows:

		Three Months Ended
(in thousands)		March 29, 2014				March 30, 2013
Balance at the beginning of the period		$	624			$	652
Payments against earn-out			(94	)			(83	)
Change in fair value of earn-out liability			99				19
		$	629			$	588

X

- Definition

Tabular disclosure of quantitative information about the inputs used in the fair value measurement of liabilities. This disclosure may include, but is not limited to, the fair value of the liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (bbb)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258

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X

- 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=25499696&loc=d3e19190-110258

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