Annual report pursuant to Section 13 and 15(d)

Accounting Policies (Tables)

v3.20.4
Accounting Policies (Tables)
 12 Months Ended
Sep. 27, 2020
Accounting Policies [Abstract]  
Schedule of Inventory

As of September 27, 2020, and September 29, 2019 inventory included:

 

    (Thousands)  
   

As of
September 27,

2020

    

As of
September 29,

2019

  
Raw Materials   $ 5,506     $ 7,395  
Work in Process     3,214       3,599  
Finished Goods     638       254  
Gross Inventory     9,358       11,248  
Less: Inventory Reserves     (567 )     (713 )
Net Inventory   $ 8,791     $ 10,535  

Schedule of Warranty Reserves

The table below summarizes the warranty expenses and incurred warranty costs for the twelve months ended September 27, 2020 and September 29, 2019.

 

    Years ended  
    2020     2019  
Beginning balance   $ 46     $ 101  
                 
Incurred costs for warranties satisfied during the period     (39 )     (115 )
                 
Warranty Expenses:                
Warranties reserved for new product shipped during the period(1)     106       86  
Change in estimate for pre-existing warranty liabilities (2)     (30 )     (26 )
Warranty Expense     76       60  
                 
Ending balance   $ 83     $ 46  

 

  (1) Warranty expenses accrued to cost of sales (based on current year shipments and historical warranty return rate).
  (2) Changes in estimated warranty liabilities recognized in cost of sales associated with: the period end customer returned warranty backlog, or the actual costs of repaired/replaced warranty units which were shipped to the customer during the year.