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Basis of Presentation (Tables) | 3 Months Ended
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Mar. 31, 2014
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 per share for the periods indicated (in thousands, except per share amounts):
| Three months ended
| March 31,
| 2014 |  | 2013
Net income from continuing operations | $ | 2,097 |  |  | $ | 1,304 |
Net income from discontinued operations | — |  |  | 191 |
Net income | $ | 2,097 |  |  | $ | 1,495 |
Shares used to compute basic income per share | 20,600,683 |  |  | 20,189,378 |
Dilutive potential common shares: |  |  |
Restricted stock | 60,602 |  |  | 74,323 |
Stock options | 546,738 |  |  | 16,329 |
Shares used to compute diluted income per share | 21,208,023 |  |  | 20,280,030 |
Basic per share amounts: |  |  |
Income from continuing operations | $ | 0.10 |  |  | $ | 0.06 |
Income from discontinued operations | — |  |  | 0.01 |
Net income | $ | 0.10 |  |  | $ | 0.07 |
Diluted per share amounts: |  |  |
Income from continuing operations | $ | 0.10 |  |  | $ | 0.06 |
Income from discontinued operations | — |  |  | 0.01 |
Net income | $ | 0.10 |  |  | $ | 0.07 |
Summary of investment categories | The following table summarizes the various investment categories at March 31, 2014 and December 31, 2013 (in thousands):
| Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Estimated fair value
March 31, 2014 |  |  |  |  |  |  |
Short-term investments | $ | 1,332 |  |  | $ | 10,943 |  |  | $ | — |  |  | $ | 12,275 |
Certificates of deposit-restricted | 1,341 |  |  | — |  |  | — |  |  | 1,341 |
| $ | 2,673 |  |  | $ | 10,943 |  |  | $ | — |  |  | $ | 13,616 |
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 |
Summary of property and equipment | Property and equipment is stated at cost and consists of the following (in thousands):
| March 31, |  | December 31,
| 2014 |  | 2013
Lab and office equipment | $ | 3,728 |  |  | $ | 3,737 |
Leasehold improvements | 273 |  |  | 387 |
Computer equipment and software | 631 |  |  | 616 |
| 4,632 |  |  | 4,740 |
Less accumulated depreciation and amortization | (3,942 | ) |  | (3,873 | )
Total property and equipment, net | $ | 690 |  |  | $ | 867 |
Summary of other current assets | Other current assets consist of the following (in thousands):
| March 31, |  | December 31,
| 2014 |  | 2013
Prepaid expenses | $ | 521 |  |  | $ | 786 |
Other receivables | 320 |  |  | 173 |
Total current assets | $ | 841 |  |  | $ | 959 |
Summary of goodwill and other identifiable intangible assets | Goodwill and other identifiable intangible assets consist of the following (in thousands):
| March 31, |  | December 31,
| 2014 |  | 2013
Indefinite lived intangible assets |  |  |
Acquired in-process research and development | $ | 12,556 |  |  | $ | 12,556 |
Goodwill | 12,238 |  |  | 12,238 |
Definite lived intangible assets |  |  |
Complete technology | 15,267 |  |  | 15,267 |
Less: Accumulated amortization | (2,425 | ) |  | (2,235 | )
Trade name | 2,642 |  |  | 2,642 |
Less: Accumulated amortization | (421 | ) |  | (387 | )
Customer relationships | 29,600 |  |  | 29,600 |
Less: Accumulated amortization | (4,714 | ) |  | (4,344 | )
Total goodwill and other identifiable intangible assets, net | $ | 64,743 |  |  | $ | 65,337 |
Summary of accrued liabilities | Accrued liabilities consist of the following (in thousands):
| March 31, |  | December 31,
| 2014 |  | 2013
Compensation | $ | 777 |  |  | $ | 1,929 |
Professional fees | 537 |  |  | 697 |
Other | 4,137 |  |  | 2,711 |
Total accrued liabilities | $ | 5,451 |  |  | $ | 5,337 |
Summary of other long-term liabilities | Other long-term liabilities consist of the following (in thousands):
| March 31, |  | December 31,
| 2014 |  | 2013
Deposits | $ | 353 |  |  | $ | 345 |
Deferred rent | 346 |  |  | 350 |
Total other long-term liabilities | $ | 699 |  |  | $ | 695 |
Schedule for accounting for share-based compensation | The following table summarizes stock-based compensation expense recorded as components of research and development expenses and general and administrative expenses for the periods indicated (in thousands):
| Three months ended
| March 31,
| 2014 |  | 2013
Stock-based compensation expense as a component of: |  |  |
Research and development expenses | $ | 689 |  |  | $ | 386 |
General and administrative expenses | 1,378 |  |  | 738 |
| $ | 2,067 |  |  | $ | 1,124 |
Summary of fair-value options awarded to employees and directors | 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:
| Three months ended
| March 31,
| 2014 |  | 2013
Risk-free interest rate | 1.9% |  | 1.1%
Dividend yield | — |  | —
Expected volatility | 69% |  | 70%
Expected term | 6.4 |  | 6.3
Forfeiture rate | 9.7% |  | 9.8%

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