29 results of operations the following table sets forth income statement data for the periods indicated as a percentage of revenue : replace_table_token_5_th fiscal year 2013 compared with fiscal year 2012 sales sales for fiscal year 2013 increased $ 40.6 million , or 10.1 % to $ 444.0 million from $ 403.4 million for fiscal year 2012. the increase in sales during the fiscal year 2013 was due primarily to our acquisition of ait in july 2012 which resulted in the inclusion of sales of $ 122.4 million from ait , compared to $ 63.8 million of sales from ait for fiscal year 2012. sales for uct when excluding sales from ait were lower during the twelve months ended december 27 , 2013 when compared to fiscal year 2012 due to factors including the termination of our arrangement with fei at the end of the first quarter of 2012 , the determination by one of our larger semiconductor equipment customers to in-source a portion of their gas panel business , as well as an overall downturn in the semiconductor industry beginning in the third quarter of 2012 which did not impact ait until the beginning of the fourth quarter of 2012. we expect sales to increase modestly in the first quarter of 2014 as compared to the fourth quarter of 2013. cost of goods sold consists primarily of purchased materials , inventory reserves and labor and overhead , including depreciation , associated with the design and manufacture of products sold . gross profit for fiscal year 2013 increased to $ 67.3 million or 15.2 % of sales , from $ 55.8 million , or 13.8 % of sales , for fiscal year 2012. our gross margin increased in fiscal 2013 from the comparable period in 2012 due primarily to a sales mix which included higher margin products , certain improvements in operational efficiencies at our manufacturing locations , favorable work order variances and a reduction in floor stock costs , partially offset by in an increase in inventory reserves . we expect gross profit to be slightly higher in the first quarter of 2014 , as compared to the fourth quarter of fiscal 2013 , primarily as a result of modestly higher expected sales in the first quarter of 2014. research and development expense research and development expense consists primarily of activities related to new component testing and evaluation , test equipment and fixture development , product design , and other product development activities . research and development expense for fiscal year 2013 was $ 5.5 million or 1.2 % of sales , compared to 30 $ 5.1 million , or 1.3 % of sales , for fiscal year 2012. the increase in research and development expense in absolute dollars was primarily attributable to an increase in headcount and related payroll expenses . sales and marketing expense sales and marketing expense consists primarily of salaries and commissions paid to our sales and service employees , salaries paid to our engineers who work with the sales and service employees to help determine the components and configuration requirements for new products and other costs related to the sales of our products . sales and marketing expense increased $ 2.8 million , or 39.8 % , to $ 9.8 million , or 2.2 % of sales , compared to $ 7.0 million , or 1.7 % of sales , in the comparable period of 2012. the increase in the sales and marketing expense was primarily due to the inclusion of sales and marketing expenses generated from ait for the full twelve months ended december 27 , 2013 compared to six months in the previous year ended december 28 , 2012. the company also incurred additional costs during the year ended december 27 , 2013 related to an increase in headcount and headcount related costs , including salaries , commissions and bonuses due to increased revenues and operating income in the fiscal year 2013 compared to the fiscal year 2012. general and administrative expense general and administrative expense consists primarily of salaries and overhead associated with our administrative staff and professional fees . general and administrative expense increased $ 3.2 million , or 9.7 % , to $ 36.0 million , or 8.1 % of sales , for fiscal year 2013 compared to $ 32.9 million , or 8.1 % of sales , for fiscal year 2012. the increase is primarily due to amortization of finite-lived intangibles associated with the ait acquisition and incremental costs associated with the ait acquisition for a full year in fiscal year 2013 compared to a six month period in fiscal year 2012 which include headcount related costs , including salaries , bonuses and stock compensation . acquisition costs there were no acquisition costs in fiscal 2013 compared to approximately $ 2.4 million in fiscal 2012. these costs were associated with our purchase of ait and consisted primarily of professional fees and services in connection with the acquisition . interest and other income ( expense ) , net interest and other income ( expense ) , net for fiscal year 2013 was $ ( 3.3 ) million compared to $ ( 1.6 ) million for fiscal year 2012. the increase in net expense was primarily due to the increase in outstanding debt beginning in the third quarter of 2012 resulting from the acquisition of ait . income tax provision our effective tax rate for fiscal year 2013 was 17.3 % compared to 23.1 % for fiscal year 2012. the change in respective rates reflects , primarily , a change in the geographic mix of worldwide earnings and financial results for fiscal year 2013 compared to fiscal year 2012 as well as changes in our deferred tax assets and our accrual for uncertain tax positions . our effective tax rate was lower than the statutory rates for fiscal years 2013 and 2012 primarily due to the geographic distribution of our world-wide earnings in foreign jurisdictions with lower tax rates . story_separator_special_tag it is possible that changes in such circumstances , or in the variables associated with the judgments , assumptions and estimates used in assessing fair value , would require us to record a non-cash impairment charge . equity incentives to employees we issue stock options and restricted stock units to our employees and outside directors and provide our employees the right to purchase common stock under our employee stock purchase plan . under current accounting guidance , stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the service ( vesting ) period . the black-scholes option-pricing model that we use was developed for use in estimating the fair value of short-lived exchange traded options that have no vesting restrictions and are fully transferable . in addition , option-pricing models require the input of highly subjective assumptions , including the option 's expected life and the price volatility of underlying stock . our expected stock price volatility assumption was determined using the historical volatility of our common stock . we determined that historical volatility reflects market conditions and is a good indicator of future volatility . our expected term represents the period that our stock-based awards are expected to be outstanding and was determined based on our historical experience with similar awards , giving consideration to the contractual terms of the stock-based awards and vesting schedules . see note 8 of notes to consolidated financial statements for a detailed description unaudited quarterly financial results the following table sets forth statement of operations data for the periods indicated . the information for each of these periods is unaudited and has been prepared on the same basis as our audited consolidated financial statements included herein and includes all adjustments , consisting only of normal recurring adjustments that we consider necessary for a fair presentation of our unaudited operations data for the periods presented . historical results are not necessarily indicative of the results to be expected in the future ( in thousands , except per share data ) : replace_table_token_6_th 36 ( 1 ) earnings per share is calculated independently each quarter and for the full year based upon their respective weighted average shares outstanding . therefore , the sum of the quarterly earnings per share may not equal the annual earnings per share reported . ( 2 ) results from our acquisition of ait are included from the date of acquisition on july 1 , 2012 and for all periods in 2013 . ( 3 ) see note 12 to the notes to consolidated financial statements in our annual report on form 10-k for the fiscal year ended december 28 , 2012 filed with the sec on march 3 , 2013 for a reconciliation of these amounts ( if any ) to the amounts in the respective quarterly reports on form 10-q in which they were originally reported . story_separator_special_tag revolving credit facility ( subject to certain limitations ) bear interest at either a base rate or at the london interbank offered rate ( libor ) ( with the libor being adjusted for certain eurocurrency reserve requirements , if any , as described in the credit agreement ) , plus , in each case , an applicable margin based on our consolidated leverage ratio . all loans 38 described above made on july 3 , 2012 were initially base rate loans , carrying interest of 3.75 % . as of december 27 , 2013 , the interest rates on the term loan and revolving credit facility were 3.67 % and 3.75 % , respectively . the effective interest rates are slightly higher due to the incurrence of certain loan-related costs of approximately $ 1.9 million that are treated as deferred interest and are being amortized over the life of the loans . the credit agreement requires us to maintain certain financial covenants including a minimum consolidated fixed charge coverage ratio , a maximum consolidated leverage ratio and minimum domestic cash balances . on february 15 , 2013 , we and the lenders amended the credit agreement in order to modify the financial covenants contained in the credit agreement , effective january 30 , 2013. the credit agreement , as amended , requires us to comply with the following financial covenants : a minimum consolidated fixed charge coverage ratio ( as defined in the credit agreement , as amended ) , measured over the preceding four fiscal quarters , beginning as of the end of the third quarter of fiscal 2014 , of 1.10 to 1.00 , stepping up to 1.25 to 1.00 as of the end of each fiscal quarter beginning with the first quarter of fiscal 2015 and thereafter ; a maximum consolidated leverage ratio ( as defined in the credit agreement , as amended ) measured over the preceding four fiscal quarters , beginning , as of the end of the third quarter of fiscal 2014 , of 4.00 to 1.00 , stepping down to 3.75 to 1.00 as of the end of the fourth quarter of fiscal 2014 and thereafter to and including the third quarter of 2015 , and 3.25 to 1.00 as of the end of each fiscal quarter beginning with the fourth quarter of 2015 and thereafter ; minimum domestic cash of $ 15.0 million as of the last day of any fiscal quarter and $ 10.0 million as of the last day of any other fiscal month from january 25 , 2013 and thereafter ; a minimum consolidated quick ratio ( as defined in the credit agreement , as amended ) of 1.10 to 1.00 as of the end of each fiscal month from january 25 , 2013 and thereafter ; minimum consolidated adjusted ebitda ( as defined in the credit agreement , as amended ) , measured over the preceding two quarters , of $ 3.5 million as of the end of the fourth quarter of 2012 , $ 2.5

liquidity and capital resources we have required capital principally to fund our acquisitions and working capital needs , satisfy our debt obligations , maintain our equipment and purchase new capital equipment . as of december 27 , 2013 , we had cash of $ 60.4 million compared to $ 54.3 million as of december 28 , 2012. our cash and cash equivalents , as well as cash generated from operations , was our principal source of liquidity as of december 27 , 2013. for the twelve months ended december 27 , 2013 , we generated cash from operating activities of $ 29.9 million , an increase of $ 2.6 million when compared to $ 27.3 million for fiscal 2012. cash generated from operating activities for fiscal 2012 represented an increase of $ 3.6 million when compared to $ 23.7 million for fiscal 2011. operating cash flows generated in the twelve months ended december 27 , 2013 , were from $ 10.4 million of net income ; net non-cash activity , including depreciation of equipment and leasehold improvements and amortization of intangibles and debt issuance costs of a total $ 9.6 million and stock-based compensation of $ 4.7 million ; and decreases in accounts receivable and inventory of $ 17.3 million and $ 9.1 million , respectively . the decrease in inventory reflects the substantial improvement in inventory management over the previous year . these were offset by a net increase in accounts payable and other current liabilities of $ 31.0 million , and an increase in accrued compensation and related benefits of $ 1.1 million . our cash flows from operations in any given period are largely driven by the timing of sales , the collection of accounts receivable and the payment of accounts payable . net cash used in investing activities for the twelve months ended december 27 , 2013 , was $ 2.9 million , consisting mainly of $ 1.4 million capital equipment expenditures in asia similar to the capital expenditures in 2012 which reflects our continued investment in our asian subsidiaries as well as $ 1.6 million capital expenditures in our domestic operating units .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources we have required capital principally to fund our acquisitions and working capital needs , satisfy our debt obligations , maintain our equipment and purchase new capital equipment . as of december 27 , 2013 , we had cash of $ 60.4 million compared to $ 54.3 million as of december 28 , 2012. our cash and cash equivalents , as well as cash generated from operations , was our principal source of liquidity as of december 27 , 2013. for the twelve months ended december 27 , 2013 , we generated cash from operating activities of $ 29.9 million , an increase of $ 2.6 million when compared to $ 27.3 million for fiscal 2012. cash generated from operating activities for fiscal 2012 represented an increase of $ 3.6 million when compared to $ 23.7 million for fiscal 2011. operating cash flows generated in the twelve months ended december 27 , 2013 , were from $ 10.4 million of net income ; net non-cash activity , including depreciation of equipment and leasehold improvements and amortization of intangibles and debt issuance costs of a total $ 9.6 million and stock-based compensation of $ 4.7 million ; and decreases in accounts receivable and inventory of $ 17.3 million and $ 9.1 million , respectively . the decrease in inventory reflects the substantial improvement in inventory management over the previous year . these were offset by a net increase in accounts payable and other current liabilities of $ 31.0 million , and an increase in accrued compensation and related benefits of $ 1.1 million . our cash flows from operations in any given period are largely driven by the timing of sales , the collection of accounts receivable and the payment of accounts payable . net cash used in investing activities for the twelve months ended december 27 , 2013 , was $ 2.9 million , consisting mainly of $ 1.4 million capital equipment expenditures in asia similar to the capital expenditures in 2012 which reflects our continued investment in our asian subsidiaries as well as $ 1.6 million capital expenditures in our domestic operating units .
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 Suspicious Activity Report : 29 results of operations the following table sets forth income statement data for the periods indicated as a percentage of revenue : replace_table_token_5_th fiscal year 2013 compared with fiscal year 2012 sales sales for fiscal year 2013 increased $ 40.6 million , or 10.1 % to $ 444.0 million from $ 403.4 million for fiscal year 2012. the increase in sales during the fiscal year 2013 was due primarily to our acquisition of ait in july 2012 which resulted in the inclusion of sales of $ 122.4 million from ait , compared to $ 63.8 million of sales from ait for fiscal year 2012. sales for uct when excluding sales from ait were lower during the twelve months ended december 27 , 2013 when compared to fiscal year 2012 due to factors including the termination of our arrangement with fei at the end of the first quarter of 2012 , the determination by one of our larger semiconductor equipment customers to in-source a portion of their gas panel business , as well as an overall downturn in the semiconductor industry beginning in the third quarter of 2012 which did not impact ait until the beginning of the fourth quarter of 2012. we expect sales to increase modestly in the first quarter of 2014 as compared to the fourth quarter of 2013. cost of goods sold consists primarily of purchased materials , inventory reserves and labor and overhead , including depreciation , associated with the design and manufacture of products sold . gross profit for fiscal year 2013 increased to $ 67.3 million or 15.2 % of sales , from $ 55.8 million , or 13.8 % of sales , for fiscal year 2012. our gross margin increased in fiscal 2013 from the comparable period in 2012 due primarily to a sales mix which included higher margin products , certain improvements in operational efficiencies at our manufacturing locations , favorable work order variances and a reduction in floor stock costs , partially offset by in an increase in inventory reserves . we expect gross profit to be slightly higher in the first quarter of 2014 , as compared to the fourth quarter of fiscal 2013 , primarily as a result of modestly higher expected sales in the first quarter of 2014. research and development expense research and development expense consists primarily of activities related to new component testing and evaluation , test equipment and fixture development , product design , and other product development activities . research and development expense for fiscal year 2013 was $ 5.5 million or 1.2 % of sales , compared to 30 $ 5.1 million , or 1.3 % of sales , for fiscal year 2012. the increase in research and development expense in absolute dollars was primarily attributable to an increase in headcount and related payroll expenses . sales and marketing expense sales and marketing expense consists primarily of salaries and commissions paid to our sales and service employees , salaries paid to our engineers who work with the sales and service employees to help determine the components and configuration requirements for new products and other costs related to the sales of our products . sales and marketing expense increased $ 2.8 million , or 39.8 % , to $ 9.8 million , or 2.2 % of sales , compared to $ 7.0 million , or 1.7 % of sales , in the comparable period of 2012. the increase in the sales and marketing expense was primarily due to the inclusion of sales and marketing expenses generated from ait for the full twelve months ended december 27 , 2013 compared to six months in the previous year ended december 28 , 2012. the company also incurred additional costs during the year ended december 27 , 2013 related to an increase in headcount and headcount related costs , including salaries , commissions and bonuses due to increased revenues and operating income in the fiscal year 2013 compared to the fiscal year 2012. general and administrative expense general and administrative expense consists primarily of salaries and overhead associated with our administrative staff and professional fees . general and administrative expense increased $ 3.2 million , or 9.7 % , to $ 36.0 million , or 8.1 % of sales , for fiscal year 2013 compared to $ 32.9 million , or 8.1 % of sales , for fiscal year 2012. the increase is primarily due to amortization of finite-lived intangibles associated with the ait acquisition and incremental costs associated with the ait acquisition for a full year in fiscal year 2013 compared to a six month period in fiscal year 2012 which include headcount related costs , including salaries , bonuses and stock compensation . acquisition costs there were no acquisition costs in fiscal 2013 compared to approximately $ 2.4 million in fiscal 2012. these costs were associated with our purchase of ait and consisted primarily of professional fees and services in connection with the acquisition . interest and other income ( expense ) , net interest and other income ( expense ) , net for fiscal year 2013 was $ ( 3.3 ) million compared to $ ( 1.6 ) million for fiscal year 2012. the increase in net expense was primarily due to the increase in outstanding debt beginning in the third quarter of 2012 resulting from the acquisition of ait . income tax provision our effective tax rate for fiscal year 2013 was 17.3 % compared to 23.1 % for fiscal year 2012. the change in respective rates reflects , primarily , a change in the geographic mix of worldwide earnings and financial results for fiscal year 2013 compared to fiscal year 2012 as well as changes in our deferred tax assets and our accrual for uncertain tax positions . our effective tax rate was lower than the statutory rates for fiscal years 2013 and 2012 primarily due to the geographic distribution of our world-wide earnings in foreign jurisdictions with lower tax rates . story_separator_special_tag it is possible that changes in such circumstances , or in the variables associated with the judgments , assumptions and estimates used in assessing fair value , would require us to record a non-cash impairment charge . equity incentives to employees we issue stock options and restricted stock units to our employees and outside directors and provide our employees the right to purchase common stock under our employee stock purchase plan . under current accounting guidance , stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the service ( vesting ) period . the black-scholes option-pricing model that we use was developed for use in estimating the fair value of short-lived exchange traded options that have no vesting restrictions and are fully transferable . in addition , option-pricing models require the input of highly subjective assumptions , including the option 's expected life and the price volatility of underlying stock . our expected stock price volatility assumption was determined using the historical volatility of our common stock . we determined that historical volatility reflects market conditions and is a good indicator of future volatility . our expected term represents the period that our stock-based awards are expected to be outstanding and was determined based on our historical experience with similar awards , giving consideration to the contractual terms of the stock-based awards and vesting schedules . see note 8 of notes to consolidated financial statements for a detailed description unaudited quarterly financial results the following table sets forth statement of operations data for the periods indicated . the information for each of these periods is unaudited and has been prepared on the same basis as our audited consolidated financial statements included herein and includes all adjustments , consisting only of normal recurring adjustments that we consider necessary for a fair presentation of our unaudited operations data for the periods presented . historical results are not necessarily indicative of the results to be expected in the future ( in thousands , except per share data ) : replace_table_token_6_th 36 ( 1 ) earnings per share is calculated independently each quarter and for the full year based upon their respective weighted average shares outstanding . therefore , the sum of the quarterly earnings per share may not equal the annual earnings per share reported . ( 2 ) results from our acquisition of ait are included from the date of acquisition on july 1 , 2012 and for all periods in 2013 . ( 3 ) see note 12 to the notes to consolidated financial statements in our annual report on form 10-k for the fiscal year ended december 28 , 2012 filed with the sec on march 3 , 2013 for a reconciliation of these amounts ( if any ) to the amounts in the respective quarterly reports on form 10-q in which they were originally reported . story_separator_special_tag revolving credit facility ( subject to certain limitations ) bear interest at either a base rate or at the london interbank offered rate ( libor ) ( with the libor being adjusted for certain eurocurrency reserve requirements , if any , as described in the credit agreement ) , plus , in each case , an applicable margin based on our consolidated leverage ratio . all loans 38 described above made on july 3 , 2012 were initially base rate loans , carrying interest of 3.75 % . as of december 27 , 2013 , the interest rates on the term loan and revolving credit facility were 3.67 % and 3.75 % , respectively . the effective interest rates are slightly higher due to the incurrence of certain loan-related costs of approximately $ 1.9 million that are treated as deferred interest and are being amortized over the life of the loans . the credit agreement requires us to maintain certain financial covenants including a minimum consolidated fixed charge coverage ratio , a maximum consolidated leverage ratio and minimum domestic cash balances . on february 15 , 2013 , we and the lenders amended the credit agreement in order to modify the financial covenants contained in the credit agreement , effective january 30 , 2013. the credit agreement , as amended , requires us to comply with the following financial covenants : a minimum consolidated fixed charge coverage ratio ( as defined in the credit agreement , as amended ) , measured over the preceding four fiscal quarters , beginning as of the end of the third quarter of fiscal 2014 , of 1.10 to 1.00 , stepping up to 1.25 to 1.00 as of the end of each fiscal quarter beginning with the first quarter of fiscal 2015 and thereafter ; a maximum consolidated leverage ratio ( as defined in the credit agreement , as amended ) measured over the preceding four fiscal quarters , beginning , as of the end of the third quarter of fiscal 2014 , of 4.00 to 1.00 , stepping down to 3.75 to 1.00 as of the end of the fourth quarter of fiscal 2014 and thereafter to and including the third quarter of 2015 , and 3.25 to 1.00 as of the end of each fiscal quarter beginning with the fourth quarter of 2015 and thereafter ; minimum domestic cash of $ 15.0 million as of the last day of any fiscal quarter and $ 10.0 million as of the last day of any other fiscal month from january 25 , 2013 and thereafter ; a minimum consolidated quick ratio ( as defined in the credit agreement , as amended ) of 1.10 to 1.00 as of the end of each fiscal month from january 25 , 2013 and thereafter ; minimum consolidated adjusted ebitda ( as defined in the credit agreement , as amended ) , measured over the preceding two quarters , of $ 3.5 million as of the end of the fourth quarter of 2012 , $ 2.5

