View Filing Data

Print Document View Excel Document

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2014 shares
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Trading Symbol	VICR
Entity Registrant Name	VICOR CORP
Entity Central Index Key	0000751978
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	26,804,362
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	11,758,218

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 53,186	$ 56,339
Short-term investments	541	463
Accounts receivable, less allowance of $210 in 2014 and $198 in 2013	27,347	27,683
Inventories, net	28,119	29,696
Deferred tax assets	131	131
Other current assets	4,934	4,212
Total current assets	114,258	118,524
Long-term investments, net	5,134	5,188
Property, plant and equipment, net	37,601	40,092
Other assets	1,726	1,836
Total assets	158,719	165,640
Current liabilities:
Accounts payable	9,336	8,677
Accrued compensation and benefits	9,687	8,055
Accrued expenses	4,602	2,841
Accrued severance charges	1,933	49
Income taxes payable	6	15
Deferred revenue	1,732	1,018
Total current liabilities	27,296	20,655
Long-term deferred revenue	703	974
Long-term income taxes payable	801	1,339
Deferred income taxes payable	335	335
Total liabilities	29,135	23,303
Commitments and contingencies (Note 11)
Vicor Corporation stockholders' equity:
Common Stock	392	392
Additional paid-in capital	170,790	169,474
Retained earnings	94,758	108,645
Accumulated other comprehensive loss	(555)	(526)
Treasury stock, at cost	(138,927)	(138,927)
Total Vicor Corporation stockholders' equity	126,576	139,176
Noncontrolling interest	3,008	3,161
Total equity	129,584	142,337
Total liabilities and equity	158,719	165,640
Class B Common Stock [Member]
Vicor Corporation stockholders' equity:
Common Stock	$ 118	$ 118

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 210	$ 198

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]
Net revenues	$ 58,402	$ 55,091	$ 164,996	$ 143,902
Cost of revenues	32,852	32,111	93,992	85,854
Gross margin	25,550	22,980	71,004	58,048
Operating expenses:
Selling, general and administrative	17,354	14,478	52,367	43,820
Research and development	10,345	9,857	31,239	29,700
Severance and other charges	1,983		1,983	1,361
Total operating expenses	29,682	24,335	85,589	74,881
Loss from operations	(4,132)	(1,355)	(14,585)	(16,833)
Other income (expense), net:
Total unrealized gains on available-for-sale securities, net	60	65	139	103
Portion of gains recognized in other comprehensive income (loss)	(41)	(64)	(100)	(181)
Net credit gains (losses) recognized in earnings	19	1	39	(78)
Other income (expense), net	(83)	50	9	90
Total other income (expense), net	(64)	51	48	12
Loss before income taxes	(4,196)	(1,304)	(14,537)	(16,821)
Benefit for income taxes	(527)	(406)	(510)	(6,337)
Consolidated net loss	(3,669)	(898)	(14,027)	(10,484)
Less: Net income (loss) attributable to noncontrolling interest	5	34	(140)	54
Net loss attributable to Vicor Corporation	$ (3,674)	$ (932)	$ (13,887)	$ (10,538)
Net loss per common share attributable to Vicor Corporation:
Basic	$ (0.10)	$ (0.02)	$ (0.36)	$ (0.27)
Diluted	$ (0.10)	$ (0.02)	$ (0.36)	$ (0.27)
Shares used to compute net loss per share attributable to Vicor Corporation:
Basic	38,552	38,538	38,545	39,414
Diluted	38,552	38,538	38,545	39,414

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Statement of Comprehensive Income [Abstract]

Consolidated net loss

$ (3,669)

$ (898)

$ (14,027)

$ (10,484)

Foreign currency translation gains (losses), net of tax provision (benefit)

^[1]

(285)

(137)

(381)

Unrealized gains on available-for-sale securities, net of tax

^[2]

176

Other comprehensive income (loss)

(246)

(42)

(205)

Consolidated comprehensive loss

(3,915)

(815)

(14,069)

(10,689)

Less: Comprehensive income (loss) attributable to noncontrolling interest

(18)

(153)

Comprehensive loss attributable to Vicor Corporation

$ (3,897)

$ (851)

$ (13,916)

$ (10,700)

[1]	Net of tax provision of $0 and $12 for the three months ended September 30, 2014 and 2013, respectively. Net of tax benefit of $0 and $(205) for the nine months ended September 30, 2014 and 2013, respectively.
[2]	The deferred tax assets associated with the unrealized gains on available-for-sale securities are completely offset by a tax valuation allowance as of September 30, 2014 and 2013. Therefore, there is no net income tax provision (benefit) recognized for the three and nine months ended September 30, 2014 and 2013.

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]
Foreign currency translation gains (losses), tax benefit	$ 0	$ 12	$ 0	$ (205)
Recognized income tax provision (benefit)	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Operating activities:
Consolidated net loss	$ (14,027)	$ (10,484)
Adjustments to reconcile consolidated net loss to net cash provided by (used for) operating activities:
Depreciation and amortization	7,313	7,555
Stock-based compensation expense	1,173	1,893
Provision for doubtful accounts	30	230
Decrease in long-term deferred revenue	(104)	(104)
Deferred income taxes		(5,491)
Excess tax benefit of stock-based compensation		(53)
Gain on disposal of equipment	(6)	(3)
Credit (gain) loss on available-for-sale securities	(39)	78
(Decrease) increase in long-term income taxes payable	(538)	33
Change in current assets and liabilities, net	7,649	3,666
Net cash provided by (used for) operating activities	1,451	(2,680)
Investing activities:
Additions to property, plant and equipment	(4,859)	(4,027)
Sales and maturities of investments	190	603
Purchases of investments	(80)
Proceeds from sale of equipment	6	3
(Increase) decrease in other assets	(37)	49
Net cash used for investing activities	(4,780)	(3,372)
Financing activities:
Proceeds from issuance of Common Stock	143	58
Purchases of Common Stock		(17,100)
Excess tax benefit of stock-based compensation		53
Net cash provided by (used for) financing activities	143	(16,989)
Effect of foreign exchange rates on cash	33	(325)
Net decrease in cash and cash equivalents	(3,153)	(23,366)
Cash and cash equivalents at beginning of period	56,339	84,554
Cash and cash equivalents at end of period	$ 53,186	$ 61,188

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2014
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Vicor Corporation (the “Company”) have been prepared in accordance with generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, these interim financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for any other interim period or the year ending December 31, 2014. The balance sheet at December 31, 2013 presented herein has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 (File No. 0-18277) filed by the Company with the Securities and Exchange Commission.

Short-Term and Long-Term Investments

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Short-Term and Long-Term Investments

2. Short-Term and Long-Term Investments

As of September 30, 2014, the Company held auction rate securities that had experienced failed auctions totaling $6,000,000 at par value, all of which had been purchased through and are held by a broker-dealer affiliate of Bank of America, N.A. (the “Failed Auction Securities”). The Failed Auction Securities held by the Company are Aaa/AA+/A3/BBB rated by major credit rating agencies, collateralized by student loans, and guaranteed by the U.S. Department of Education under the Federal Family Education Loan Program. Management is not aware of any reason to believe any of the issuers of the Failed Auction Securities are presently at risk of default. Through September 30, 2014, the Company has continued to receive interest payments on the Failed Auction Securities in accordance with the terms of their respective indentures. Management believes the Company ultimately should be able to liquidate all of the Failed Auction Securities without significant loss primarily due to the overall quality of the issues held and the collateral securing the substantial majority of the underlying obligations. However, current conditions in the auction rate securities market have led management to conclude the recovery period for the Failed Auction Securities exceeds 12 months. As a result, the Company continued to classify the Failed Auction Securities as long-term as of September 30, 2014.

The following is a summary of available-for-sale securities (in thousands):


September 30, 2014	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Failed Auction Securities	$	6,000	$	—	$	1,036	$	4,964
Brokered certificates of deposit		710		1		—		711

	$	6,710	$	1	$	1,036	$	5,675


December 31, 2013	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Failed Auction Securities	$	6,000	$	—	$	1,175	$	4,825
Brokered certificates of deposit		820		6		—		826

	$	6,820	$	6	$	1,175	$	5,651

All of the Failed Auction Securities as of September 30, 2014 have been in an unrealized loss position for greater than 12 months.

The amortized cost and estimated fair value of available-for-sale securities on September 30, 2014, by contractual maturities, are shown below (in thousands):


	Cost		Estimated Fair Value
Due in one year or less	$	540	$	541
Due in two to ten years		170		170
Due in ten to twenty years		—		—
Due in twenty to forty years		6,000		4,964

	$	6,710	$	5,675

Based on the fair value measurements described in Note 3, the fair value of the Failed Auction Securities on September 30, 2014, with a par value of $6,000,000, was estimated by the Company to be approximately $4,964,000, an increase in fair value of $139,000 from December 31, 2013. The gross unrealized loss of $1,036,000 on the Failed Auction Securities consists of two types of estimated loss: an aggregate credit loss of $356,000 and an aggregate temporary impairment of $680,000. In determining the amount of credit loss, the Company compared the present value of cash flows expected to be collected to the amortized cost basis of the securities, considering credit default risk probabilities and changes in credit ratings as significant inputs, among other factors (See Note 3).

The following table represents a rollforward of the activity related to the credit (gain) loss recognized in earnings on available-for-sale auction rate securities held by the Company for the nine months ended September 30 (in thousands):


	2014			2013
Balance at the beginning of the period	$	395		$	317
Changes in the amount related to credit (gain) loss for which other-than-temporary impairment was not previously recognized		(39	)		85
Reduction for security sold during the period		—			(7	)

Balance at the end of the period	$	356		$	395

At this time, the Company has no intent to sell any of the impaired Failed Auction Securities and does not believe it is more likely than not the Company will be required to sell any of these securities. If current market conditions deteriorate further, the Company may be required to record additional unrealized losses. If the credit rating of the security deteriorates, the Company may be required to adjust the carrying value of these investments through impairment charges recorded in the Condensed Consolidated Statements of Operations, and any such impairment adjustments may be material.

Based on the Company’s ability to access cash and cash equivalents and its expected operating cash flows, management does not anticipate the current lack of liquidity associated with the Failed Auction Securities held will affect the Company’s ability to execute its current operating plan.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

3. Fair Value Measurements

The Company accounts for certain financial assets at fair value, defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions market participants would use in pricing an asset or liability. A three-level hierarchy is used to show the extent and level of judgment used to estimate fair value measurements.

Assets measured at fair value on a recurring basis include the following as of September 30, 2014 (in thousands):


	Using						Total Fair Value as of September 30, 2014
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value as of September 30, 2014
Cash Equivalents:
Money market funds	$	11,861	$	—	$	—	$	11,861
Short-term investments:
Brokered certificates of deposit		—		541		—		541
Long-term investments:
Failed Auction Securities		—		—		4,964		4,964
Brokered certificates of deposit		—		170		—		170

Assets measured at fair value on a recurring basis include the following as of December 31, 2013 (in thousands):


	Using
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value as of December 31, 2013
Cash Equivalents:
Money market funds	$	12,407	$	—	$	—	$	12,407
Short-term investments:
Brokered certificates of deposit		—		463		—		463
Long-term investments:
Failed Auction Securities		—		—		4,825		4,825
Brokered certificates of deposit		—		363		—		363

The Company has brokered certificates of deposit classified as Level 2 because the fair value for these investments has been determined utilizing observable inputs from non-active markets. The fair values fluctuate with changes in market interest rates obtained from information available in publicly quoted markets. Management tested the reported fair values by comparing them to net present value calculations utilizing a discount rate based on U.S. Treasury bill and bond yields for similar maturities.

As of September 30, 2014, there was insufficient observable auction rate security market information available to determine the fair value of the Failed Auction Securities using Level 1 or Level 2 inputs. As such, the Company’s investments in Failed Auction Securities were deemed to require valuation using Level 3 inputs. Management, after consulting with advisors, valued the Failed Auction Securities using analyses and pricing models similar to those used by market participants (i.e., buyers, sellers, and the broker-dealers responsible for execution of the Dutch auction pricing mechanism by which each issue’s interest rate was set). Management utilized a probability weighted discounted cash flow (“DCF”) model to determine the estimated fair value of these securities as of September 30, 2014. The major assumptions used in preparing the DCF model included: estimates for the amount and timing of future interest and principal payments based on default probability assumptions used to measure the credit loss of 5.9%; the rate of return required by investors to own these securities in the current environment, which management estimates to be 5.0% above the risk free rate of return; and an estimated timeframe of three to five years for successful auctions for these securities to occur. In making these assumptions, management considered relevant factors including: the formula applicable to each security defining the interest rate paid to investors in the event of a failed auction (the “Penalty Rate”); forward projections of the interest rate benchmarks specified in such formulas; the likely timing of principal repayments; the probability of full repayment considering the guarantees by the U.S. Department of Education of the underlying student loans, guarantees by other third parties, and additional credit enhancements provided through other means; and publicly available pricing data for recently issued student loan asset-backed securities not subject to auctions. In developing its estimate of the rate of return required by investors to own these securities, management compared the Penalty Rates of the Failed Auction Securities with yields of actively traded long-term bonds with similar characteristics and, reflecting the limited liquidity for auction rate securities and the discounts to par value seen in recent tender offers by issuers and arms’ length market transactions between informed buyers and sellers, estimated the implied yield (i.e., the discount to par value) necessary to complete a sale of the Failed Auction Securities. Management has calculated an increase or decrease in the liquidity risk premium of 5.0% referenced above of 1.0% (i.e., 100 basis points) as used in the model, would decrease or increase, respectively, the fair value of the Failed Auction Securities by approximately $300,000.

For purposes of the valuation process for the Failed Auction Securities, “management” consists of senior members of the Company’s finance department. The fair value measurements for the Failed Auction Securities are reviewed and updated on a quarterly basis. The calculations are prepared by the Company’s Corporate Controller, in conjunction with information provided by its valuation advisors, and include the development and substantiation of the unobservable inputs. The methodology, assumptions, and calculations are reviewed and approved by the Company’s Chief Financial Officer and Chief Accounting Officer.

The significant unobservable inputs used in the fair value measurement of the Company’s Failed Auction Securities are the cumulative probability of earning the maximum rate until maturity, the cumulative probability of principal return prior to maturity, the cumulative probability of default, the liquidity risk premium, and the recovery rate in default. Significant increases (decreases) in any of those inputs in isolation would result in changes in fair value measurement. Significant increases (decreases) in the cumulative probability of earning the maximum rate until maturity, the cumulative probability of principal return prior to maturity, and the recovery rate in default would result in a higher (lower) fair value measurement, while increases (decreases) in the cumulative probability of default and the liquidity risk premium would result in a lower (higher) fair value measurement.

Generally, the interrelationships are such that a change in the assumption used for the cumulative probability of principal return prior to maturity is accompanied by a directionally similar change in the assumption used for the cumulative probability of earning the maximum rate until maturity and a directionally opposite change in the assumptions used for the cumulative probability of default and the liquidity risk premium. The recovery rate in default is somewhat independent and based upon the securities’ specific underlying assets and published recovery rate indices.

Quantitative information about Level 3 fair value measurements as of September 30, 2014 are as follows (dollars in thousands):


	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted Average)
Failed Auction Securities	$	4,964	Discounted cash flow	Cumulative probability of earning the maximum rate until maturity	0.01% - 0.07% (0.04%)
				Cumulative probability of principal return prior to maturity	73.05% - 95.15% (84.10%)
				Cumulative probability of default	4.84% - 26.88% (15.86%)
				Liquidity risk premium	5.00% - 5.00% (5.00%)
				Recovery rate in default	40.00% - 40.00% (40.00%)

The following table summarizes the change in the estimated fair values calculated for those assets valued on a recurring basis utilizing Level 3 inputs (i.e., the Failed Auction Securities) for the nine months ended September 30, 2014 (in thousands):


Balance at the beginning of the period	$	4,825
Credit gain on available-for-sale securities included in Other income (expense), net		39
Unrealized gain included in Other comprehensive income (loss)		100

Balance at the end of the period	$	4,964

There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the nine months ended September 30, 2014.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock-Based Compensation

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

4. Stock-Based Compensation

The Company uses the Black-Scholes option pricing model to calculate the fair value of stock option awards as of their grant date. Stock-based compensation expense for the three and nine months ended September 30 was as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013

Cost of revenues	$	41	$	59	$	141	$	103
Selling, general and administrative		278		348		842		1,529
Research and development		83		84		190		261

Total stock-based compensation	$	402	$	491	$	1,173	$	1,893

Stock-based compensation was lower during the three and nine months ended September 30, 2014, compared to the same periods in 2013, due to the completion of an exchange of outstanding employee stock options in the second quarter of 2013.

On December 31, 2010, the Company granted 2,984,250 non-qualified stock options under the VI Chip 2007 Stock Option and Incentive Plan with performance-based vesting provisions tied to achievement of certain margin targets by the VI Chip subsidiary. As of December 31, 2010, the Company determined it was probable the margin targets could be achieved and, accordingly, began recording stock-based compensation expense relating to these options beginning January 1, 2011. This determination remains the same as of September 30, 2014 and, accordingly, expense has been recorded through that date. The unrecognized compensation expense for these performance-based options was approximately $649,000 as of September 30, 2014.

Net Loss per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Net Loss per Share

5. Net Loss per Share

The following table sets forth the computation of basic and diluted loss per share for the three and nine months ended September 30 (in thousands, except per share amounts):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013

Numerator:

Net loss attributable to Vicor Corporation	$	(3,674	)	$	(932	)	$	(13,887	)	$	(10,538	)

Denominator:
Denominator for basic loss per share-weighted average shares (1)		38,552			38,538			38,545			39,414
Effect of dilutive securities:
Employee stock options (2)		—			—			—			—

Denominator for diluted loss per share – adjusted weighted-average shares and assumed conversions		38,552			38,538			38,545			39,414


Basic loss per share	$	(0.10	)	$	(0.02	)	$	(0.36	)	$	(0.27	)

Diluted loss per share	$	(0.10	)	$	(0.02	)	$	(0.36	)	$	(0.27	)

(1)	Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding.

(2)

Options to purchase 2,001,175 shares of Common Stock for the three and nine months ended September 30, 2014 were not included in the calculation of net loss per share as the effect would have been antidilutive. Options to purchase 1,142,576 and 1,098,473 shares of Common Stock for the three and nine months ended September 30, 2013, respectively, were not included in the calculation of net loss per share as the effect would have been antidilutive.

Inventories

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Inventories

6. Inventories

Inventories are valued at the lower of cost (determined using the first-in, first-out method) or net realizable value. Fixed production overhead is allocated to the inventory cost per unit based on the normal capacity of the production facilities. Abnormal production costs, including fixed cost variances from normal production capacity, if any, are charged to cost of revenues in the period incurred. All shipping and handling costs incurred in connection with the sale of products are included in cost of revenues.

The Company provides reserves for inventories estimated to be excess, obsolete or unmarketable. The Company’s estimation process for assessing net realizable value is based upon its known backlog, projected future demand and expected market conditions, and historical usage. If the Company’s estimated demand and/or market expectation were to change or if product sales were to decline, the Company’s estimation process may cause larger inventory reserves to be recorded, resulting in larger charges to cost of revenues.

Inventories were as follows (in thousands):


	September 30, 2014		December 31, 2013

Raw materials	$	19,921	$	19,744
Work-in-process		3,224		3,979
Finished goods		4,974		5,973

Net balance	$	28,119	$	29,696

Other Investments	9 Months Ended
Other Investments	Sep. 30, 2014
Text Block [Abstract]
Other Investments	7. Other Investments The Company’s gross investment in non-voting convertible preferred stock of Great Wall Semiconductor Corporation (“GWS”) totaled $5,000,000 as of September 30, 2014 and December 31, 2013, giving the Company an approximately 27% ownership interest in GWS. GWS and its subsidiary design and sell semiconductors, conduct research and development activities, develop and license patents, and litigate against those who infringe upon its patented technologies. A director of the Company is the founder, Chairman of the Board, President and Chief Executive Officer (“CEO”), as well as the majority voting shareholder, of GWS. The Company and GWS are parties to an intellectual property cross-licensing agreement, a license agreement and two supply agreements under which the Company purchases certain components from GWS. Purchases from GWS totaled approximately $1,698,000 and $831,000 for the nine months ended September 30, 2014, and 2013, respectively. The Company owed GWS approximately $17,000 and $152,000 as of September 30, 2014 and December 31, 2013, respectively. The Company accounts for its investment in GWS under the equity method of accounting. The Company has determined that, while GWS is a variable interest entity, the Company is not the primary beneficiary. The key factors in the Company’s assessment were that the CEO of GWS has: (i) the power to direct the activities of GWS that most significantly impact its economic performance, and (ii) an obligation to absorb losses or the right to receive benefits from GWS, respectively, that could potentially be significant to GWS. The balance in the Company’s net investment in GWS was zero as of September 30, 2014 and December 31, 2013.

Severance and Other Charges

9 Months Ended

Sep. 30, 2014

Restructuring and Related Activities [Abstract]

Severance and Other Charges

8. Severance and Other Charges

In July 2014, the Company’s management authorized an action to consolidate the manufacturing of Westcor division products, of the Brick Business Unit segment, by transferring those operations from Westcor’s Sunnyvale, California facility to the Company’s primary manufacturing facility in Andover, Massachusetts, by the end of 2014. As a result, the Company recorded a pre-tax charge of $1,983,000 in the third quarter of 2014, primarily for the cost of severance and other employee-related costs involving cash payments based on each employee’s respective length of service. The Company will also incur other costs related to the relocation of the manufacturing operations, primarily freight costs for the transfer of inventories and equipment, and employee travel expenses, of which approximately $50,000 was expensed in the third quarter of 2014. The severance payments will commence in January 2015. These charges were recorded as “Severance and other charges” in the Condensed Consolidated Statements of Operations. The related liability is presented as “Accrued severance charges” in the Condensed Consolidated Balance Sheets.

A summary of the activity related to the third quarter of 2014 severance charges, is as follows (in thousands):


Balance as of December 31, 2013	$	—
Charges		1,933
Payments		—

Balance as of September 30, 2014	$	1,933

Product Warranties

9 Months Ended

Sep. 30, 2014

Guarantees [Abstract]

Product Warranties

9. Product Warranties

The Company generally offers a two-year warranty for all of its products. The Company provides for the estimated cost of product warranties at the time product revenue is recognized. Factors that affect the Company’s warranty reserves include the number of units sold, historical and anticipated rates of warranty returns, and the cost per return. The Company assesses the adequacy of the warranty reserves and adjusts the amounts as necessary. Warranty obligations are included in “Accrued expenses” in the accompanying Condensed Consolidated Balance Sheets.

Product warranty activity for the three and nine months ended September 30, was as follows (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013

Balance at the beginning of the period	$	225		$	329		$	283		$	364
Accruals for warranties for products sold in the period		76			127			159			228
Fulfillment of warranty obligations		(98	)		(110	)		(230	)		(220	)
Revisions of estimated obligations		(1	)		1			(10	)		(25	)

Balance at the end of the period	$	202		$	347		$	202		$	347

Income Taxes

9 Months Ended

Sep. 30, 2014

Income Tax Disclosure [Abstract]

Income Taxes

10. Income Taxes

The tax provision is based on the estimated annual effective tax rate for the year, which includes estimated federal, state and foreign income taxes (benefit) on the Company’s projected annual pre-tax income (loss) and estimated federal and state income taxes for certain noncontrolling interest subsidiaries that are not part of the Company’s consolidated income tax returns.

The benefit for income taxes and the effective income tax rate for the three and nine months ended September 30, were as follows (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Benefit for income taxes	$	(527	)	$	(406	)	$	(510	)	$	(6,337	)
Effective income tax rate		(12.6	%)		(31.1	%)		(3.5	%)		(37.7	%)

For the three and nine months ended September 30, 2014, no tax benefit could be recognized for the majority of the Company’s losses due to a full valuation allowance against all domestic deferred tax assets. The Company did recognize a tax benefit of approximately $552,000 as a discrete item in the third quarter of 2014 for the release of certain income tax reserves, due to the completion of an Internal Revenue Service examination of its 2010 and 2011 federal corporate income tax returns during the quarter (see below). For the three and nine months ended September 30, 2013, a net income tax benefit was recorded primarily due to an increase in net federal deferred tax assets not covered by a valuation allowance at that time. In addition, for the nine months ended September 30, 2013, additional net tax benefits were recorded for a potential net operating loss carryback for federal income tax purposes and the recognition of a benefit from the federal research tax credit for 2012 of $549,000, as a discrete item in the first quarter of 2013. The federal research tax credit for 2012 and 2013 was extended on January 2, 2013 pursuant to the American Taxpayer Relief Act of 2012.

As of September 30, 2014, the Company has a valuation allowance of approximately $20,179,000 primarily against all domestic net deferred tax assets, for which realization cannot be considered more likely than not at this time. Management assesses the need for the valuation allowance on a quarterly basis. In assessing the need for a valuation allowance, the Company considers all positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and past financial performance. In 2013, the Company recorded an increase to the valuation allowance of approximately $10,241,000 for all remaining domestic net deferred tax assets not previously covered by a valuation allowance due to the following factors: (1) the Company’s forecast of future taxable income, of the appropriate nature, based on its quarterly assessment was not sufficient to support the recoverability of the remaining domestic deferred tax assets; (2) recent cumulative losses and the Company’s projection of continued losses into 2014; (3) while the Company has the ability to carryback federal net operating losses or credits to utilize against federal taxable income, it would generate only $1,600,000 in cash refunds; and (4) the lack of prudent and feasible tax planning strategies. These assessment factors remain unchanged, as does management’s conclusion concerning the need for a full valuation allowance against all domestic net deferred tax assets, as of September 30, 2014. The valuation allowance against these deferred tax assets may require adjustment in the future based on changes in the mix of temporary differences, changes in tax laws, and operating performance. If and when management determines the valuation allowance should be released, the adjustment would result in a tax benefit in the Condensed Consolidated Statements of Operations and may include a portion to be accounted for through “Additional paid-in capital”, a component of Stockholders’ Equity. The amount of the tax benefit to be recorded in a particular quarter could be material.

In August 2013, the Company received notice from the Internal Revenue Service that its federal corporate tax returns for the tax years 2010 and 2011 had been selected for examination. The examination was completed resulting in a net refund due the Company of approximately $17,000, which was received and recorded as a discrete benefit in the third quarter of 2014.

The Company’s subsidiary in Italy, Vicor Italy S.r.l. (“Vicor Italy”), recently underwent a tax inspection for tax years 2009 – 2013, covering corporation, regional and value added taxes. Vicor Italy received a preliminary tax audit report dated June 30, 2014. The Company filed a response to the preliminary tax audit report in the third quarter of 2014. While management believes it is too early to determine the likelihood or amount of potential liability at this time, it does not believe the ultimate impact of this matter will be material to the Company’s financial statements.

There are no other income tax examinations or audits currently in process.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies At September 30, 2014, the Company had approximately $468,000 of capital expenditure commitments. On January 28, 2011, SynQor, Inc. (“SynQor”) filed a complaint for patent infringement against Ericsson, Inc. (“Ericsson”), Cisco Systems, Inc. (“Cisco”) and the Company in U.S. District Court for the Eastern District of Texas (“the Texas Action”). This immediately followed a complaint filed by the Company on January 26, 2011, in U.S. District Court for the District of Massachusetts, in which the Company sought a declaratory judgment that its bus converter products do not infringe any valid claim of certain of SynQor’s U.S. patents, and that the claims of those patents are invalid. SynQor and Ericsson subsequently entered into a definitive settlement agreement in May 2011 in which they, among other terms and conditions, agreed to mutual releases and a dismissal with prejudice of all claims asserted against each other in the litigation. With respect to the Company, SynQor’s complaint alleges the Company’s products, including, but not limited to, unregulated bus converters used in intermediate bus architecture power supply systems, infringe certain SynQor patents. SynQor seeks, among other items, an injunction against further infringement and an award of unspecified compensatory and enhanced damages, interest, costs and attorney fees. On February 8, 2011, SynQor filed a motion for preliminary injunction seeking an order enjoining the Company from manufacturing, using, selling, and offering for sale in the United States and/or importing into the United States certain identified unregulated bus converters, as well as any other bus converters not significantly different from those products. On February 17, 2011, the Company withdrew its Massachusetts action without prejudice to allow the litigation to proceed in Texas. On May 16, 2011, SynQor announced it was withdrawing its motion for preliminary injunction against the Company. On September 16, 2011, the U.S. District Court for the Eastern District of Texas issued an order setting a trial date of July 7, 2014. On September 20, 2011, SynQor filed an amended complaint in the Texas Action. The amended complaint repeated the allegations of patent infringement against the Company contained in SynQor’s original complaint, and included additional patent infringement allegations with respect to U.S. Patent No. 8,023,290 (“290 patent”), which was issued on that day. As with SynQor’s original complaint, the amended complaint alleged that the Company’s products, including but not limited to the Company’s unregulated bus converters used in intermediate bus architecture power supply systems, infringed the asserted patents. On October 4, 2011, the Company filed an answer and counterclaims to SynQor’s amended complaint, in which the Company alleges the 290 patent is unenforceable because it was procured through inequitable conduct before the U.S. Patent and Trademark Office and seeks damages against SynQor for SynQor’s unfair and deceptive trade practices and tortious interference with prospective economic advantage in connection with SynQor’s allegations of patent infringement against the Company. On January 2, 2014, the court issued its claim construction order following a claim construction hearing held on December 17, 2013. On January 16, 2014, the Company filed a motion seeking reconsideration of certain aspects of the court’s claim construction ruling. On March 31, 2014, the court issued an order severing the case against the Company and Cisco into two separate matters, with separate trials to be held with respect to SynQor’s claims against Cisco and SynQor’s claims against the Company. On June 30, 2014, the Company filed a number of motions seeking summary judgment in this matter, which are currently under consideration by the Court. On October 23, 2014, the Court issued an order continuing trial in this matter indefinitely. The Company continues to believe that none of its products, including its unregulated bus converters, infringe any valid claim of the asserted SynQor patents, either alone or when used in an intermediate bus architecture implementation. The Company believes SynQor’s claims lack merit and, therefore, continues to vigorously defend itself against SynQor’s patent infringement allegations. The Company does not believe a loss is probable for this matter. If a loss were to be incurred, though, the Company cannot estimate the amount of possible loss or range of possible loss at this time. In addition, the Company is involved in certain other litigation and claims incidental to the conduct of its business. While the outcome of lawsuits and claims against the Company cannot be predicted with certainty, management does not expect any current litigation or claims to have a material adverse impact on the Company’s financial position or results of operations.

Segment Information

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Information

12. Segment Information

The Company has organized its business segments according to its key product lines. The Brick Business Unit segment (“BBU”) designs, develops, manufactures and markets the Company’s modular power converters and configurable products, and also includes the operations of the Company’s Westcor division, the six entities comprising Vicor Custom Power, and the BBU operations of Vicor Japan Company, Ltd. (“VJCL”). The VI Chip segment includes VI Chip Corporation, which designs, develops, manufactures and markets the Company’s factorized power architecture (“FPA”) products. The VI Chip segment also includes the VI Chip business conducted through VJCL. The Picor segment includes Picor Corporation, which designs, develops, manufactures and markets integrated circuits and related products for use in a variety of power management and power system applications. Picor develops these products to be sold as part of the Company’s products or to third parties for separate applications.

The Company’s chief operating decision maker evaluates performance and allocates resources based on segment revenues and segment operating income (loss). The operating income (loss) for each segment includes selling, general and administrative and research and development expenses directly attributable to the segment. Certain of the Company’s indirect overhead costs, which include corporate selling, general and administrative expenses, are allocated among the segments based upon an estimate of costs associated with each segment. Assets allocated to each segment are based upon specific identification of such assets, which include accounts receivable, inventories, fixed assets and certain other assets. The Corporate segment consists of those operations and assets shared by all segments. The costs of certain centralized executive and administrative functions are recorded in this segment, as are certain shared assets, most notably cash and cash equivalents, deferred tax assets, long-term investments, the Company’s facilities in Massachusetts, real estate and other assets. The Company’s accounting policies and method of presentation for segments are consistent with that used throughout the Condensed Consolidated Financial Statements.

The following table provides significant segment financial data for the three months ended September 30, (in thousands):


	BBU		VI Chip			Picor			Corporate			Eliminations (1)			Total

2014:
Net revenues	$	45,972	$	10,321		$	4,081		$	—		$	(1,972	)	$	58,402
Income (loss) from operations		2,369		(6,429	)		156			(228	)		—			(4,132	)
Total assets		149,125		18,876			4,945			77,397			(91,624	)		158,719
Depreciation and amortization		1,155		850			103			351			—			2,459

2013:
Net revenues	$	42,331	$	12,457		$	2,836		$	—		$	(2,533	)	$	55,091
Income (loss) from operations		5,162		(5,555	)		(696	)		(266	)		—			(1,355	)
Total assets		119,739		19,898			4,345			98,614			(61,718	)		180,878
Depreciation and amortization		1,296		760			96			375			—			2,527

The following table provides significant segment financial data for the nine months ended September 30, (in thousands):


	BBU		VI Chip			Picor			Corporate			Eliminations (1)			Total

2014:
Net revenues	$	137,546	$	24,296		$	9,698		$	—		$	(6,544	)	$	164,996
Income (loss) from operations		10,030		(22,682	)		(1,371	)		(562	)		—			(14,585	)
Total assets		149,125		18,876			4,945			77,397			(91,624	)		158,719
Depreciation and amortization		3,506		2,429			309			1,069			—			7,313

2013:
Net revenues	$	120,743	$	22,503		$	7,426		$	—		$	(6,770	)	$	143,902
Income (loss) from operations		9,752		(23,142	)		(2,711	)		(732	)		—			(16,833	)
Total assets		119,739		19,898			4,345			98,614			(61,718	)		180,878
Depreciation and amortization		3,773		2,468			315			999			—			7,555

(1)

The elimination for net revenues is principally related to inter-segment revenues of Picor to BBU and VI Chip and for inter-segment revenues of VI Chip to BBU. The elimination for total assets is principally related to inter-segment accounts receivable due to BBU for the funding of VI Chip and Picor operations.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Risks and Uncertainties	9 Months Ended
Risks and Uncertainties	Sep. 30, 2014
Risks and Uncertainties [Abstract]
Risks and Uncertainties	13. Risks and Uncertainties On July 16, 2014, the U.S. Department of the Treasury imposed new economic sanctions against Russian entities, targeting major banks and energy companies and a significant portion of the Russian defense industry, along with certain other parties. Although the Company sells its products in Russia through three independent distributors, against which the sanctions are not applicable, certain end-customers to these independent distributors have been identified as sanctioned entities. The Company is currently not accepting orders from the distributors for end-customers identified as sanctioned entities. As a result, there are no accounts receivable or backlog with any sanctioned end-customers as of September 30, 2014. Management will continue to carefully monitor the compliance of its distribution partners in the Russian market with U.S. trade restrictions, including the recent sanctions.

Impact of Recently Issued Accounting Standards	9 Months Ended
Impact of Recently Issued Accounting Standards	Sep. 30, 2014
Accounting Changes and Error Corrections [Abstract]
Impact of Recently Issued Accounting Standards	14. Impact of Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance for revenue recognition, which will require an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new guidance will replace most existing revenue recognition guidance in U.S. Generally Accepted Accounting Principles when it becomes effective which, for the Company, will be on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect the new guidance will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. Effective January 1, 2014, the Company adopted new accounting guidance related to the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance requires an unrecognized tax benefit to be presented as a decrease in a deferred tax asset where a net operating loss, a similar tax loss, or a tax credit carryforward exists and certain criteria are met. The adoption of this new guidance did not impact the Company’s financial position or results of operations.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

+ Details

Short-Term and Long-Term Investments (Tables)

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Securities

The following is a summary of available-for-sale securities (in thousands):


September 30, 2014	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Failed Auction Securities	$	6,000	$	—	$	1,036	$	4,964
Brokered certificates of deposit		710		1		—		711

	$	6,710	$	1	$	1,036	$	5,675


December 31, 2013	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Failed Auction Securities	$	6,000	$	—	$	1,175	$	4,825
Brokered certificates of deposit		820		6		—		826

	$	6,820	$	6	$	1,175	$	5,651

Amortized Cost and Estimated Fair Value of Available-for-Sale Securities by Contractual Maturities

The amortized cost and estimated fair value of available-for-sale securities on September 30, 2014, by contractual maturities, are shown below (in thousands):


	Cost		Estimated Fair Value
Due in one year or less	$	540	$	541
Due in two to ten years		170		170
Due in ten to twenty years		—		—
Due in twenty to forty years		6,000		4,964

	$	6,710	$	5,675

Rollforward of Credit (Gain) Loss Recognized in Earnings on Available-for-Sale Auction Rate Securities


	2014			2013

Balance at the beginning of the period	$	395		$	317
Changes in the amount related to credit (gain) loss for which other-than- temporary impairment was not previously recognized		(39	)		85
Reduction for security sold during the period		—			(7	)

Balance at the end of the period	$	356		$	395

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis include the following as of September 30, 2014 (in thousands):


	Using						Total Fair Value as of September 30, 2014
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value as of September 30, 2014
Cash Equivalents:
Money market funds	$	11,861	$	—	$	—	$	11,861
Short-term investments:
Brokered certificates of deposit		—		541		—		541
Long-term investments:
Failed Auction Securities		—		—		4,964		4,964
Brokered certificates of deposit		—		170		—		170

Assets measured at fair value on a recurring basis include the following as of December 31, 2013 (in thousands):


	Using
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value as of December 31, 2013
Cash Equivalents:
Money market funds	$	12,407	$	—	$	—	$	12,407
Short-term investments:
Brokered certificates of deposit		—		463		—		463
Long-term investments:
Failed Auction Securities		—		—		4,825		4,825
Brokered certificates of deposit		—		363		—		363

Quantitative Information about Level 3 Fair Value Measurements

Quantitative information about Level 3 fair value measurements as of September 30, 2014 are as follows (dollars in thousands):


	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted Average)
Failed Auction Securities	$	4,964	Discounted cash flow	Cumulative probability of earning the maximum rate until maturity	0.01% - 0.07% (0.04%)
				Cumulative probability of principal return prior to maturity	73.05% - 95.15% (84.10%)
				Cumulative probability of default	4.84% - 26.88% (15.86%)
				Liquidity risk premium	5.00% - 5.00% (5.00%)
				Recovery rate in default	40.00% - 40.00% (40.00%)

Change in Estimated Fair Values Calculated for Assets Valued on Recurring Basis Utilizing Level 3 Inputs


Balance at the beginning of the period	$	4,825
Credit gain on available-for-sale securities included in Other income (expense), net		39
Unrealized gain included in Other comprehensive income (loss)		100

Balance at the end of the period	$	4,964

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation Expense

Stock-based compensation expense for the three and nine months ended September 30 was as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013

Cost of revenues	$	41	$	59	$	141	$	103
Selling, general and administrative		278		348		842		1,529
Research and development		83		84		190		261

Total stock-based compensation	$	402	$	491	$	1,173	$	1,893

Net Loss per Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Computation of Basic and Diluted Loss per Share

The following table sets forth the computation of basic and diluted loss per share for the three and nine months ended September 30 (in thousands, except per share amounts):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013

Numerator:

Net loss attributable to Vicor Corporation	$	(3,674	)	$	(932	)	$	(13,887	)	$	(10,538	)

Denominator:
Denominator for basic loss per share-weighted average shares (1)		38,552			38,538			38,545			39,414
Effect of dilutive securities:
Employee stock options (2)		—			—			—			—

Denominator for diluted loss per share – adjusted weighted-average shares and assumed conversions		38,552			38,538			38,545			39,414


Basic loss per share	$	(0.10	)	$	(0.02	)	$	(0.36	)	$	(0.27	)

Diluted loss per share	$	(0.10	)	$	(0.02	)	$	(0.36	)	$	(0.27	)

(1)	Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding.

(2)

Inventories (Tables)

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories were as follows (in thousands):


	September 30, 2014		December 31, 2013

Raw materials	$	19,921	$	19,744
Work-in-process		3,224		3,979
Finished goods		4,974		5,973

Net balance	$	28,119	$	29,696

Severance and Other Charges (Tables)

9 Months Ended

Sep. 30, 2014

Restructuring and Related Activities [Abstract]

Summary of Activity Related to Severance Charges

A summary of the activity related to the third quarter of 2014 severance charges, is as follows (in thousands):


Balance as of December 31, 2013	$	—
Charges		1,933
Payments		—

Balance as of September 30, 2014	$	1,933

Product Warranties (Tables)

9 Months Ended

Sep. 30, 2014

Guarantees [Abstract]

Product Warranty Activity

Product warranty activity for the three and nine months ended September 30, was as follows (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013

Balance at the beginning of the period	$	225		$	329		$	283		$	364
Accruals for warranties for products sold in the period		76			127			159			228
Fulfillment of warranty obligations		(98	)		(110	)		(230	)		(220	)
Revisions of estimated obligations		(1	)		1			(10	)		(25	)

Balance at the end of the period	$	202		$	347		$	202		$	347

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2014

Income Tax Disclosure [Abstract]

Benefit for Income Taxes and Effective Income Tax Rate

The benefit for income taxes and the effective income tax rate for the three and nine months ended September 30, were as follows (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013

Benefit for income taxes	$	(527	)	$	(406	)	$	(510	)	$	(6,337	)
Effective income tax rate		(12.6	%)		(31.1	%)		(3.5	%)		(37.7	%)

Segment Information (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Significant Segment Financial Data

The following table provides significant segment financial data for the three months ended September 30, (in thousands):


	BBU		VI Chip			Picor			Corporate			Eliminations (1)			Total

2014:
Net revenues	$	45,972	$	10,321		$	4,081		$	—		$	(1,972	)	$	58,402
Income (loss) from operations		2,369		(6,429	)		156			(228	)		—			(4,132	)
Total assets		149,125		18,876			4,945			77,397			(91,624	)		158,719
Depreciation and amortization		1,155		850			103			351			—			2,459

2013:
Net revenues	$	42,331	$	12,457		$	2,836		$	—		$	(2,533	)	$	55,091
Income (loss) from operations		5,162		(5,555	)		(696	)		(266	)		—			(1,355	)
Total assets		119,739		19,898			4,345			98,614			(61,718	)		180,878
Depreciation and amortization		1,296		760			96			375			—			2,527

The following table provides significant segment financial data for the nine months ended September 30, (in thousands):


	BBU		VI Chip			Picor			Corporate			Eliminations (1)			Total

2014:
Net revenues	$	137,546	$	24,296		$	9,698		$	—		$	(6,544	)	$	164,996
Income (loss) from operations		10,030		(22,682	)		(1,371	)		(562	)		—			(14,585	)
Total assets		149,125		18,876			4,945			77,397			(91,624	)		158,719
Depreciation and amortization		3,506		2,429			309			1,069			—			7,313

2013:
Net revenues	$	120,743	$	22,503		$	7,426		$	—		$	(6,770	)	$	143,902
Income (loss) from operations		9,752		(23,142	)		(2,711	)		(732	)		—			(16,833	)
Total assets		119,739		19,898			4,345			98,614			(61,718	)		180,878
Depreciation and amortization		3,773		2,468			315			999			—			7,555

(1)

Short-Term and Long-Term Investments - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Unrealized Losses On Short Term And Long Term Investments [Line Items]
Amortized cost of securities	$ 6,710,000	$ 6,820,000
Minimum period for which failed auction securities been in unrealized loss position	12 months
Estimated fair value of securities	$ 5,675,000	5,651,000
Gross unrealized losses	1,036,000	1,175,000
Aggregate credit loss	356,000	395,000	$ 395,000	$ 317,000
Failed Auction Securities [Member]
Unrealized Losses On Short Term And Long Term Investments [Line Items]
Amortized cost of securities	$ 6,000,000	6,000,000
Period for which failed auction securities been in unrealized loss position	Exceeds 12 months
Estimated fair value of securities	$ 4,964,000	4,825,000
Increase in fair value	139,000
Gross unrealized losses	1,036,000	$ 1,175,000
Aggregate credit loss	356,000
Aggregate temporary impairment loss	$ 680,000

Short-Term and Long-Term Investments - Summary of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Cost	$ 6,710	$ 6,820
Gross Unrealized Gains	1	6
Gross unrealized losses	1,036	1,175
Estimated Fair Value	5,675	5,651
Failed Auction Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost	6,000	6,000
Gross unrealized losses	1,036	1,175
Estimated Fair Value	4,964	4,825
Brokered Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost	710	820
Gross Unrealized Gains	1	6
Estimated Fair Value	$ 711	$ 826

Short-Term and Long-Term Investments - Amortized Cost and Estimated Fair Value of Available-for-Sale Securities by Contractual Maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Available-for-sale Securities, Debt Maturities [Abstract]
Due in one year or less, Cost	$ 540
Due in two to ten years, Cost	170
Due in ten to twenty years, Cost	0
Due in twenty to forty years, Cost	6,000
Cost	6,710	$ 6,820
Due in one year or less, Estimated Fair Value	541
Due in two to ten years, Estimated Fair Value	170
Due in ten to twenty years, Estimated Fair Value	0
Due in twenty to forty years, Estimated Fair Value	4,964
Estimated Fair Value	$ 5,675	$ 5,651

Short-Term and Long-Term Investments - Rollforward of Credit (Gain) Loss Recognized in Earnings on Available-for-Sale Auction Rate Securities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Available-for-sale Securities, Debt Maturities [Abstract]
Balance at the beginning of the period	$ 395	$ 317
Changes in the amount related to credit (gain) loss for which other-than- temporary impairment was not previously recognized	(39)	85
Reduction for security sold during the period		(7)
Balance at the end of the period	$ 356	$ 395

Fair Value Measurements - Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	$ 5,675	$ 5,651
Failed Auction Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	4,964	4,825
Recurring [Member] \| Short-Term Brokered Certificates of Deposit [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	541	463
Recurring [Member] \| Failed Auction Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	4,964	4,825
Recurring [Member] \| Long-Term Brokered Certificates of Deposit [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	170	363
Recurring [Member] \| Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash Equivalents	11,861	12,407
Recurring [Member] \| Quoted Prices in Active Markets (Level 1) [Member] \| Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash Equivalents	11,861	12,407
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Short-Term Brokered Certificates of Deposit [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	541	463
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Long-Term Brokered Certificates of Deposit [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	170	363
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Failed Auction Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	$ 4,964	$ 4,825

Fair Value Measurements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014 USD ($)
Fair Value Disclosures [Abstract]
Percent of credit loss	5.90%
Rate of return required	5.00%
Estimated timeframe for auctions of securities minimum	3 years
Estimated timeframe for auctions of securities maximum	5 years
Percentage of liquidity risk premium	5.00%
Increase or decrease in the liquidity risk premium	1.00%
Increase or decrease, respectively, the fair value of the Failed Auction Securities	$ 300,000
Fair value transfers between Level 1 and Level 2	$ 0

Fair Value Measurements - Change in Estimated Fair Values Calculated for Assets Valued on Recurring Basis Utilizing Level 3 Inputs (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2014 USD ($)
Fair Value Disclosures [Abstract]
Balance at the beginning of the period	$ 4,825
Credit gain on available-for-sale securities included in Other income (expense), net	39
Unrealized gain included in Other comprehensive income (loss)	100
Balance at the end of the period	$ 4,964

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 402	$ 491	$ 1,173	$ 1,893
Cost of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	41	59	141	103
Selling, General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	278	348	842	1,529
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 83	$ 84	$ 190	$ 261

Stock-Based Compensation - Additional Information (Detail) - 2007 VI Chip Plan [Member] - USD ($)	Sep. 30, 2014	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options		2,984,250
Unrecognized compensation cost related to performance-based stock options	$ 649,000

Net Loss per Share - Computation of Basic and Diluted Loss per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Numerator:
Net loss attributable to Vicor Corporation	$ (3,674)	$ (932)	$ (13,887)	$ (10,538)
Denominator:
Denominator for basic loss per share-weighted average shares	38,552	38,538	38,545	39,414
Effect of dilutive securities:
Employee stock options	0	0	0	0
Denominator for diluted loss per share - adjusted weighted-average shares and assumed conversions	38,552	38,538	38,545	39,414
Basic loss per share	$ (0.10)	$ (0.02)	$ (0.36)	$ (0.27)
Diluted loss per share	$ (0.10)	$ (0.02)	$ (0.36)	$ (0.27)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Net Loss per Share - Computation of Basic and Diluted Loss per Share (Parenthetical) (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]
Options to purchase shares of Common Stock not included in the computation of diluted income per share	2,001,175	1,142,576	2,001,175	1,098,473

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Raw materials	$ 19,921	$ 19,744
Work-in-process	3,224	3,979
Finished goods	4,974	5,973
Net balance	$ 28,119	$ 29,696

Other Investments - Additional Information (Detail)	9 Months Ended
Other Investments - Additional Information (Detail)	Sep. 30, 2014 USD ($) Agreement	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($)
Variable Interest Entity [Line Items]
Ownership interest in investment	27.00%		27.00%
Number of supply agreements with GWS \| Agreement	2
Purchase of components under agreement	$ 1,698,000	$ 831,000
Company owed GWS	17,000		$ 152,000
Great Wall Semiconductor Corporation (GWS) [Member]
Variable Interest Entity [Line Items]
Investment in non-voting convertible preferred stock	0		0
Great Wall Semiconductor Corporation (GWS) [Member] \| Convertible Preferred Stock [Member]
Variable Interest Entity [Line Items]
Investment in non-voting convertible preferred stock	$ 5,000,000		$ 5,000,000

Severance and Other Charges - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 1,983,000	$ 1,983,000	$ 1,361,000
Other restructuring charges	$ 50,000

Severance and Other Charges - Summary of Activity Related to Severance Charges (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2014 USD ($)
Restructuring and Related Activities [Abstract]
Balance as of December 31, 2013	$ 0
Charges	1,933
Payments	0
Balance as of September 30, 2014	$ 1,933

Product Warranties - Additional Information (Detail)	9 Months Ended
Product Warranties - Additional Information (Detail)	Sep. 30, 2014
Guarantees [Abstract]
Warranty period	2 years

Product Warranties - Product Warranty Activity (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Guarantees [Abstract]
Balance at the beginning of the period	$ 225	$ 329	$ 283	$ 364
Accruals for warranties for products sold in the period	76	127	159	228
Fulfillment of warranty obligations	(98)	(110)	(230)	(220)
Revisions of estimated obligations	(1)	1	(10)	(25)
Balance at the end of the period	$ 202	$ 347	$ 202	$ 347

Income Taxes - Benefit for Income Taxes and Effective Income Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Abstract]
Benefit for income taxes	$ (527)	$ (406)	$ (510)	$ (6,337)
Effective income tax rate	(12.60%)	(31.10%)	(3.50%)	(37.70%)

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Mar. 31, 2013
Deferred Tax Assets Liabilities [Line Items]
Tax benefit recognized	$ 0		$ 0
Benefit for income taxes	(527,000)	$ (406,000)	(510,000)	$ (6,337,000)
Federal research tax credit						$ 549,000
Valuation allowance, deferred tax assets	20,179,000		20,179,000
Deferred tax assets valuation allowance increase					$ 10,241,000
Expected cash refunds to be generated	1,600,000		1,600,000
Internal Revenue Service [Member]
Deferred Tax Assets Liabilities [Line Items]
Benefit for income taxes	(552,000)
Net tax benefit refunded from completion of examination	$ 17,000		$ 17,000

Commitments and Contingencies - Additional Information (Detail)	Sep. 30, 2014 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Capital expenditure commitments	$ 468,000

Segment Information - Additional Information (Detail)	9 Months Ended
Segment Information - Additional Information (Detail)	Sep. 30, 2014 Entity
Segment Reporting [Abstract]
Number of entities comprising operating segment	6

Segment Information - Significant Segment Financial Data (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net revenues	$ 58,402	$ 55,091	$ 164,996	$ 143,902
Income (loss) from operations	(4,132)	(1,355)	(14,585)	(16,833)
Total assets	158,719	180,878	158,719	180,878	$ 165,640
Depreciation and amortization	2,459	2,527	7,313	7,555
Operating Segments [Member] \| BBU [Member]
Segment Reporting Information [Line Items]
Net revenues	45,972	42,331	137,546	120,743
Income (loss) from operations	2,369	5,162	10,030	9,752
Total assets	149,125	119,739	149,125	119,739
Depreciation and amortization	1,155	1,296	3,506	3,773
Operating Segments [Member] \| VI Chip [Member]
Segment Reporting Information [Line Items]
Net revenues	10,321	12,457	24,296	22,503
Income (loss) from operations	(6,429)	(5,555)	(22,682)	(23,142)
Total assets	18,876	19,898	18,876	19,898
Depreciation and amortization	850	760	2,429	2,468
Operating Segments [Member] \| Picor [Member]
Segment Reporting Information [Line Items]
Net revenues	4,081	2,836	9,698	7,426
Income (loss) from operations	156	(696)	(1,371)	(2,711)
Total assets	4,945	4,345	4,945	4,345
Depreciation and amortization	103	96	309	315
Operating Segments [Member] \| Corporate [Member]
Segment Reporting Information [Line Items]
Income (loss) from operations	(228)	(266)	(562)	(732)
Total assets	77,397	98,614	77,397	98,614
Depreciation and amortization	351	375	1,069	999
Eliminations [Member]
Segment Reporting Information [Line Items]
Net revenues	(1,972)	(2,533)	(6,544)	(6,770)
Total assets	$ (91,624)	$ (61,718)	$ (91,624)	$ (61,718)

Risks and Uncertainties - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014 USD ($) Distributor
Unusual Risk or Uncertainty [Line Items]
Number of independent distributors \| Distributor	3
Customer Concentration Risk [Member]
Unusual Risk or Uncertainty [Line Items]
Accounts receivable \| $	$ 0

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated Fair Value	$ 5,675	$ 5,651
Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated Fair Value	$ 4,964
Valuation Technique	Discounted cash flow
Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Cumulative Probability of Earning Maximum Rate Until Maturity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Cumulative probability of earning the maximum rate until maturity
Weighted Average Interest Rate	0.04%
Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Cumulative Probability of Principal Return Prior to Maturity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Cumulative probability of principal return prior to maturity
Weighted Average Interest Rate	84.10%
Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Cumulative Probability of Default [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Cumulative probability of default
Weighted Average Interest Rate	15.86%
Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Liquidity Risk Premium [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Liquidity risk premium
Weighted Average Interest Rate	5.00%
Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Recovery Rate in Default [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Recovery rate in default
Weighted Average Interest Rate	40.00%
Minimum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Cumulative Probability of Earning Maximum Rate Until Maturity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	0.01%
Minimum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Cumulative Probability of Principal Return Prior to Maturity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	73.05%
Minimum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Cumulative Probability of Default [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	4.84%
Minimum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Liquidity Risk Premium [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	5.00%
Minimum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Recovery Rate in Default [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	40.00%
Maximum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Cumulative Probability of Earning Maximum Rate Until Maturity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	0.07%
Maximum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Cumulative Probability of Principal Return Prior to Maturity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	95.15%
Maximum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Cumulative Probability of Default [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	26.88%
Maximum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Liquidity Risk Premium [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	5.00%
Maximum [Member] \| Failed Auction Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Recovery Rate in Default [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Interest Rate	40.00%