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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2012
Deferred Tax Assets and Deferred Tax Liabilities | The deferred tax assets and deferred tax liabilities and related valuation allowance were comprised of the following:
|  | December 31, |
|  | 2012 |  |  | 2011 |
Deferred tax assets: |  |  |  |  |  |  |  |
Derivative financial instruments |  | $ | 5,765 |  |  | $ | 6,350 |
Net operating losses |  |  | 2,929 |  |  |  | 7,786 |
Research and development credits |  |  | 2,916 |  |  |  | 6,346 |
Depreciation |  |  | 2,251 |  |  |  | 1,951 |
Valuation reserves and accrued liabilities |  |  | 3,062 |  |  |  | 2,305 |
Foreign tax credit |  |  | 1,775 |  |  |  | — |
Stock compensation |  |  | 1,316 |  |  |  | 1,021 |
Inventory |  |  | 723 |  |  |  | 438 |
Patents |  |  | 654 |  |  |  | 715 |
Defined benefit obligation |  |  | 585 |  |  |  | 410 |
Other credits |  |  | 429 |  |  |  | 890 |
Capital lease obligations |  |  | 370 |  |  |  | 993 |
Other |  |  | 288 |  |  |  | 926 |
|  |  | 23,063 |  |  |  | 30,131 |
Valuation allowance |  |  | (2,199 | ) |  |  | (3,702 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible assets |  |  | (18,948 | ) |  |  | (23,680 | )
Unrealized foreign currency exchange gains |  |  | (2,069 | ) |  |  | (2,165 | )
Undistributed profits of subsidiary |  |  | (359 | ) |  |  | (518 | )
Accounts receivable |  |  | (4 | ) |  |  | (335 | )
Property and equipment |  |  | (220 | ) |  |  | (202 | )
Other |  |  | (725 | ) |  |  | (547 | )
|  |  | (22,325 | ) |  |  | (27,447 | )
Net deferred tax asset (liability) |  | $ | (1,461 | ) |  | $ | (1,018 | )
Reconciliations Between Statutory Federal Income Tax Rate and Effective Rate | Reconciliations between the statutory Federal income tax rate of 34% and the effective rate of income tax expense for each of the three years in the period ended December 31, 2012 are as follows:
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Statutory Federal income tax rate |  |  | 34.0 | % |  |  | 34.0 | % |  |  | 34.0 | %
Increase (Decrease) resulting from: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Taxes on foreign income, net of taxes paid credit |  |  | 4.5 | % |  |  | — |  |  |  | — |
NOL’s recognized upon change in tax law |  |  | (2.9 | %) |  |  | — |  |  |  | — |
Domestic and foreign state and local tax, net of federal benefit |  |  | 3.7 | % |  |  | 7.2 | % |  |  | 2.7 | %
Nondeductible expenses |  |  | 1.6 | % |  |  | 2.8 | % |  |  | 0.7 | %
Nondeductible acquisition transaction expenses |  |  | — |  |  |  | 5.0 | % |  |  | — |
Withholding taxes |  |  | — |  |  |  | 1.7 | % |  |  | — |
Nondeductible stock option compensation |  |  | — |  |  |  | 0.5 | % |  |  | 2.5 | %
Research and development credits |  |  | (5.3 | %) |  |  | (6.9 | %) |  |  | (3.6 | %)
Effect of different tax rates of foreign jurisdictions |  |  | (10.5 | %) |  |  | (3.2 | %) |  |  | — |
Nontaxable derivative gains |  |  | — |  |  |  | (5.2 | %) |  |  | — |
Other tax exempt income |  |  | (0.5 | %) |  |  | (8.5 | %) |  |  | — |
Reverse valuation allowance on Federal NOLs |  |  | — |  |  |  | — |  |  |  | (13.5 | %)
Other |  |  | 1.0 | % |  |  | 2.0 | % |  |  | — |
Effective rate |  |  | 25.6 | % |  |  | 29.4 | % |  |  | 22.8 | %
Net Operating Loss Carryforwards | The Company has Net Operating Loss (“NOL”) carryforwards as follows:
Jurisdiction |  | Amount as of December 31, 2012 |  |  | Years of Expiration |
U.S. Federal income tax |  | $ | 10,165 |  |  |  | 2012 - 2023 |
State income taxes |  | $ | 4,002 |  |  |  | 2014 - 2016 |
Earning Before For Income Taxes | The earning before for income taxes and our tax provision are comprised of the following:
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Income before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 3,735 |  |  | $ | 12,223 |  |  | $ | 10,823 |
Foreign |  |  | 28,937 |  |  |  | 3,646 |  |  |  | 585 |
Total income before income taxes |  | $ | 32,672 |  |  | $ | 15,869 |  |  | $ | 11,408 |
Provision for Income Taxes |
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Current income tax expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 511 |  |  | $ | 213 |  |  | $ | 298 |
State and local |  |  | (311 | ) |  |  | (242 | ) |  |  | 638 |
Foreign |  |  | 7,362 |  |  |  | 5,294 |  |  |  | 110 |
Total current income tax expense |  | $ | 7,562 |  |  | $ | 5,265 |  |  | $ | 1,046 |
Deferred income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 1,834 |  |  | $ | 2,378 |  |  | $ | 1,847 |
State and local |  |  | 348 |  |  |  | 182 |  |  |  | (284 | )
Foreign |  |  | (1,393 | ) |  |  | (3,159 | ) |  |  | — |
Total deferred income tax expense |  | $ | 789 |  |  | $ | (599 | ) |  | $ | 1,563 |
Total tax expense |  | $ | 8,351 |  |  | $ | 4,666 |  |  | $ | 2,609 |
Reconciliation of Unrecognized Tax Benefits | The reconciliation of the beginning and ending amount of unrecognized tax benefits that would favorably affect the effective income tax rate in the future periods is as follows:
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |
Balance at beginning of year |  | $ | 1,678 |  |  | $ | 500 |
Additions based on tax position related to current year |  |  | 67 |  |  |  | 63 |
Additions based on tax positions related to prior year |  |  | 413 |  |  |  | — |
Amount acquired with W.E.T Acquisition |  |  | — |  |  |  | 1,216 |
Effect of foreign currency translation |  |  | 33 |  |  |  | (101 | )
Balance at end of year |  | $ | 2,191 |  |  | $ | 1,678 |

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