| Significant Accounting Policies [Text Block] | 1. Summary of Significant Accounting Policies Basis of Presentation Our fiscal years are based on a 52 53 December. December 31, 2022 53 December 25, 2021, September 24, 2022, ( third 2022” first nine 2022” September 25, 2021, ( third 2021” first nine 2021” three nine September 24, 2022 September 25, 2021 13 39 Our interim results are not September 24, 2022 nine September 24, 2022. December 25, 2021, 2021 10 All significant consolidated transactions and balances have been eliminated in consolidation. Concentration of Credit Risk Financial instruments that potentially subject us to significant credit risk consist principally of cash equivalents, short-term investments and trade accounts receivable. We invest in a variety of financial instruments and, by policy, limit the amount of credit exposure with any one Our trade accounts receivable are presented net of allowance for credit losses, which is determined in accordance with the guidance provided by Accounting Standards Codification (“ASC”) Topic 326, Financial Instruments-Credit Losses 326” September 24, 2022 December 25, 2021, September 24, 2022, 19 may Inventories Inventories are stated at the lower of cost, determined on a first first Inventories by category were as follows ( in thousands September 24, December 25, 2022 2021 Raw materials and purchased parts $ 98,440 $ 92,798 Work in process 41,352 40,732 Finished goods 25,452 27,523 Total inventories $ 165,244 $ 161,053 Property, Plant and Equipment Depreciation and amortization of property, plant and equipment, both owned and under financing lease, is calculated principally on the straight-line method based on estimated useful lives of thirty forty five fifteen three ten not Property, plant and equipment, at cost, consisted of the following (in thousands) September 24, December 25, 2022 2021 Land and land improvements $ 6,439 $ 7,703 Buildings and building improvements 29,479 31,711 Machinery and equipment 100,911 95,542 136,829 134,956 Less accumulated depreciation and amortization (75,040 ) (70,999 ) Property, plant and equipment, net $ 61,789 $ 63,957 Cloud-based Enterprise Resource Planning Implementation Costs We have capitalized certain costs associated with the implementation of our new cloud-based Enterprise Resource Planning (“ERP”) system in accordance with ASC Topic 350, Intangibles Goodwill and Other 350” Unamortized capitalized cloud computing implementation costs totaled $13.9 million and $13.5 million at September 24, 2022, December 25, 2021, first 2020 seven three nine September 24, 2022, three nine September 25, 2021, Segment Information We applied the provisions of ASC Topic 280, Segment Reporting 280” 280 June 24, 2021, Goodwill and Other Intangible Assets We evaluate goodwill for impairment annually and when an event occurs or circumstances change that indicate that the carrying value may not first second not We conduct our annual impairment test as of October 1st October 1, 2021 may Other intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not may not not Product Warranty Product warranty costs are accrued in the period sales are recognized. Our products are generally sold with standard warranty periods, which differ by product, ranging from 12- to 36-months. Parts and labor are typically covered under the terms of the warranty agreement. Our warranty expense accruals are based on historical and estimated costs by product and configuration. From time-to-time we offer customers extended warranties beyond the standard warranty period. In those situations, the revenue relating to the extended warranty is deferred at its estimated relative standalone selling price and recognized on a straight-line basis over the contract period. Costs associated with our extended warranty contracts are expensed as incurred. Restructuring Costs We record restructuring activities including costs for one 420, Exit or Disposal Cost Obligations 420” . 420 712, Nonretirement Postemployment Benefits 4, Debt Issuance Costs We capitalize costs related to the issuance of debt. Debt issuance costs directly related to our Term Loan Credit Facility are presented within noncurrent liabilities as a reduction of long-term debt in our condensed consolidated balance sheets. The amortization of such costs is recognized as interest expense using the effective interest method over the term of the respective debt issue. Amortization related to deferred debt issuance costs and original discount costs was $0.1 million and $0.3 million for the three nine September 24, 2022, three nine September 25, 2021, Foreign Remeasurement and Currency Translation Assets and liabilities of our wholly owned foreign subsidiaries that use the U.S. Dollar as their functional currency are re-measured using exchange rates in effect at the end of the period, except for nonmonetary assets, such as inventories and property, plant and equipment, which are re-measured using historical exchange rates. Revenues and costs are re-measured using average exchange rates for the period, except for costs related to those balance sheet items that are re-measured using historical exchange rates. Gains and losses on foreign currency transactions are recognized as incurred. During the three nine September 24, 2022, three nine September 25, 2021, Foreign Exchange Derivative Contracts We operate and sell our products in various global markets. As a result, we are exposed to changes in foreign currency exchange rates. We enter into foreign currency forward contracts with a financial institution to hedge against future movements in foreign exchange rates that affect certain existing U.S. Dollar denominated assets and liabilities held at our subsidiaries whose functional currency is the local currency. For accounting purposes, our foreign currency forward contracts are not 7, Share-Based Compensation We measure and recognize all share-based compensation under the fair value method. Reported share-based compensation is classified, in our condensed consolidated financial statements, as follows (in thousands) Three Months Ended Nine Months Ended September 24, September 25, September 24, September 25, 2022 2021 2022 2021 Cost of sales $ 161 $ 239 $ 478 $ 692 Research and development 755 889 2,333 2,433 Selling, general and administrative 2,824 2,586 8,284 7,618 Total share-based compensation 3,740 3,714 11,095 10,743 Income tax benefit (770 ) (155 ) (3,232 ) (569 ) Total share-based compensation, net $ 2,970 $ 3,559 $ 7,863 $ 10,174 Income Per Share Basic income per common share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted income per share includes the dilutive effect of common shares potentially issuable upon the exercise of stock options, vesting of outstanding restricted stock and performance stock units and issuance of stock under our employee stock purchase plan using the treasury stock method. In loss periods, potentially dilutive securities are excluded from the per share computations due to their anti-dilutive effect. For purposes of computing diluted income per share, stock options with exercise prices that exceed the average fair market value of our common stock for the period are excluded. For the three nine September 24, 2022, three nine September 25, 2021, The following table reconciles the denominators used in computing basic and diluted income per share ( in thousands) Three Months Ended Nine Months Ended September 24, September 25, September 24, September 25, 2022 2021 2022 2021 Weighted average common shares 47,984 48,666 48,412 46,992 Effect of dilutive securities 542 791 596 1,145 48,526 49,457 49,008 48,137 Leases We determine if a contract contains a lease at inception. Operating leases are included in operating lease right of use (“ROU”) assets, current other accrued liabilities, and long-term lease liabilities on our condensed consolidated balance sheets. Finance leases are included in property, plant and equipment, other current accrued liabilities, and long-term lease liabilities on our condensed consolidated balance sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the adoption date or the commencement date for leases entered into after the adoption date. As most of our leases do not The operating lease ROU asset also includes any lease payments made, lease incentives, favorable and unfavorable lease terms recognized in business acquisitions and excludes initial direct costs incurred and variable lease payments. Variable lease payments include estimated payments that are subject to reconciliations throughout the lease term, increases or decreases in the contractual rent payments, as a result of changes in indices or interest rates and tax payments that are based on prevailing rates. Our lease terms may Leases with an initial term of 12 not We sublease certain leased assets to third None Revenue Recognition Our net sales are derived from the sale of products and services and are adjusted for estimated returns and allowances, which historically have been insignificant. We recognize revenue when the obligations under the terms of a contract with our customers are satisfied; generally, this occurs with the transfer of control of our systems, non-system products or services. In circumstances where control is not Revenue for established products that have previously satisfied a customer’s acceptance requirements is generally recognized upon shipment. In cases where a prior history of customer acceptance cannot be demonstrated or from sales where customer payment dates are not Certain of our equipment sales have multiple performance obligations. These arrangements involve the delivery or performance of multiple performance obligations, and transfer of control of performance obligations may Unsatisfied performance obligations primarily represent contracts for products with future delivery dates. At September 24, 2022, one 606, Revenue from Contracts with Customers 606” not one We generally sell our equipment with a product warranty. The product warranty provides assurance to customers that delivered products are as specified in the contract (an “assurance-type warranty”). Therefore, we account for such product warranties under ASC Topic 460, Guarantees 460” not The transaction price reflects our expectations about the consideration we will be entitled to receive from the customer and may not not Our contracts are typically less than one 606 one Accounts receivable represents our unconditional right to receive consideration from our customer. Payments terms do not one not On shipments where sales are not September 24, 2022, one December 25, 2021, one Net sales of our reportable segments, by type, are as follows (in thousands): Three Months Ended Nine Months Ended Disaggregated Net Sales September 24, 2022 September 25, 2021 September 24, 2022 September 25, 2021 Systems: Semiconductor Test & Inspection $ 120,672 $ 146,010 $ 369,972 $ 433,830 PCB Test - - - 17,831 Non-systems: Semiconductor Test & Inspection 86,015 79,053 251,698 234,764 PCB Test - - - 8,929 Total net sales $ 206,687 $ 225,063 $ 621,670 $ 695,354 Revenue by geographic area based upon product shipment destination (in thousands Three Months Ended Nine Months Ended Disaggregated Net Sales September 24, 2022 September 25, 2021 September 24, 2022 September 25, 2021 China $ 31,477 $ 60,205 $ 116,715 $ 171,653 Philippines 38,852 49,382 84,799 119,669 Malaysia 24,060 21,086 73,033 63,481 United States 19,510 15,498 62,826 57,435 Taiwan 11,243 15,006 46,620 74,392 Rest of the World 81,545 63,886 237,677 208,724 Total net sales $ 206,687 $ 225,063 $ 621,670 $ 695,354 A small number of customers historically have been responsible for a significant portion of our net sales. Significant customer concentration information, by reportable segment, is as follows: Three Months Ended Nine Months Ended September 24, September 25, September 24, September 25, 2022 2021 2022 2021 Semiconductor Test & Inspection Customers individually accounting for more than 10% of net sales one two * one Percentage of net sales 13% 32% * 14% PCB Test Customers individually accounting for more than 10% of net sales N/A N/A N/A * Percentage of net sales N/A N/A N/A * * No 10% Accumulated Other Comprehensive Loss Our accumulated other comprehensive loss balance totaled approximately $72.4 million and $27.3 million at September 24, 2022 December 25, 2021, not first nine 2022 2021 not Retiree Medical Benefits We provide post-retirement health benefits to certain retired executives, one no first nine 2022 2021 not Business Divestitures On June 24, 2021, 12, New Accounting Pronouncements There have been no 10 December 25, 2021. |
