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Property and equipment, net - Note 6
 12 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Property and equipment, net - Note 6

6. PROPERTY AND EQUIPMENT

Property and equipment consists of the following (in thousands):

      Year Ended December 31,
      2015     2014
Production equipment   $ 4,150    $ 3,078 
Leasehold improvements     494      494 
Computer hardware and software/lab equipment     4,618      4,486 
Office furniture and equipment     1,087      1,087 
      10,349      9,145 
Less: Accumulated depreciation     (8,680)     (8,251)
    $ 1,669    $ 894 

 

Depreciation expense was $429,000 in 2015, compared to $414,000 in 2014, and $923,000 in 2013.

The capital leases are collateralized by the related assets financed and by security deposits held by the lessors under the lease agreements. The cost and accumulated depreciation of equipment under capital leases was $704,000 in each of the years ended December 31, 2015 and 2014.