XML 26 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Basis of Presentation (Tables)
 12 Months Ended
Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of computation of basic and diluted net income (loss) per share
The following table sets forth the computation of basic and diluted net income (loss) per share for the periods indicated (in thousands, except per share amounts):
 
 
Year Ended December 31,
 
2013
 
2012
 
2011
Net income (loss) from continuing operations
$
8,832

 
$
(2,674
)
 
$
9,712

Discontinued operations
2,588

 
2,147

 
3

Net income (loss)
$
11,420

 
$
(527
)
 
$
9,715

Shares used to compute basic income (loss) per share
20,312,395

 
19,853,095

 
19,655,632

Dilutive potential common shares:
 
 
 
 
 
Restricted stock
352,959

 
—

 
—

Stock options
80,100

 
—

 
57,688

Shares used to compute diluted income (loss) per share
20,745,454

 
19,853,095

 
19,713,320

Basic per share amounts:
 
 
 
 
 
Income (loss) from continuing operations
$
0.43

 
$
(0.14
)
 
$
0.49

Discontinued operations
0.13

 
0.11

 
—

Net income (loss)
$
0.56

 
$
(0.03
)
 
$
0.49

 
 
 
 
 
 
Diluted per share amounts:
 
 
 
 
 
Income (loss) from continuing operations
$
0.43

 
$
(0.14
)
 
$
0.49

Discontinued operations
0.12

 
0.11

 
—

Net income (loss)
$
0.55

 
$
(0.03
)
 
$
0.49
Summary of investment categories
The following table summarizes the various investment categories at December 31, 2013 and December 31, 2012 (in thousands):

 
Cost
 
Gross unrealized
gains
 
Gross unrealized
losses
 
Estimated
fair value
December 31, 2013
 
 
 
 
 
 
 
Short-term investments
$
1,426

 
$
2,914

 
$
—

 
$
4,340

Certificates of deposit - restricted
1,341

 
—

 
—

 
1,341

 
$
2,767

 
$
2,914

 
$
—

 
$
5,681

December 31, 2012
 
 
 
 
 
 
 
Available-for-sale securities-restricted
$
1,426

 
$
—

 
$
—

 
$
1,426

Certificates of deposit-restricted
1,341

 
—

 
—

 
1,341

 
$
2,767

 
$
—

 
$
—

 
$
2,767
Summary of property and equipment
Property and equipment is stated at cost and consists of the following (in thousands):
 
 
December 31,
 
2013
 
2012
Lab and office equipment
$
3,737

 
$
4,374

Leasehold improvements
387

 
145

Computer equipment and software
616

 
1,150

 
4,740

 
5,669

Less accumulated depreciation and amortization
(3,873
)
 
(4,881
)
 
$
867

 
$
788
Summary of goodwill and other identifiable intangible assets
Goodwill and other identifiable intangible assets consist of the following (in thousands):
 
 
December 31,
 
2013
 
2012
Indefinite lived intangible assets
 
 
 
     Acquired in-process research and development
$
12,556

 
$
13,036

     Goodwill
12,238

 
12,238

Definite lived intangible assets
 
 
 
     Complete technology
15,267

 
15,227

          Less: Accumulated amortization
(2,235
)
 
(1,473
)
     Trade name
2,642

 
2,642

          Less: Accumulated amortization
(387
)
 
(256
)
     Customer relationships
29,600

 
29,600

          Less: Accumulated amortization
(4,344
)
 
(2,864
)
Total goodwill and other identifiable intangible assets, net
$
65,337

 
$
68,150
Stock option weighted average assumptions
The fair-value for options that were awarded to employees and directors was estimated at the date of grant using the Black-Scholes option valuation model with the following weighted average assumptions:
 
 
Year Ended December 31,
 
2013
 
2012
 
2011
Risk-free interest rate
1.13%-1.82%
 
0.83%-1.14%
 
1.09%-2.61%
Dividend yield
—
 
—
 
—
Expected volatility
70%
 
69%
 
69%
Expected term
6 years
 
6 years
 
6 years
Forfeiture rate
8.4%-9.8%
 
8.0%-11.2%
 
8.9%-14.1%
Schedule for accounting for share-based compensation
The following table summarizes share-based compensation expense recorded as components of research and development expenses and general and administrative expenses for the periods indicated (in thousands):

 
December 31,
 
2013
 
2012
 
2011
Share-based compensation expense as a component of:
 
 
 
 
 
Research and development expenses
$
1,705

 
$
1,448

 
$
1,072

General and administrative expenses
3,961

 
2,619

 
2,279

 
$
5,666

 
$
4,067

 
$
3,351