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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Financial Assets Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis as of December 31 (in thousands):

						Fair Value Measurements
		Carrying Amount as of				As of December 31, 2014
		December 31, 2014				Level 1				Level 2				Level 3
Cash equivalents		$	12,166			$	12,166			$	—			$	—
Marketable securities			220				220				—				—
		$	12,386			$	12,386			$	—			$	—

						Fair Value Measurements
		Carrying Amount as of				As of December 31, 2015
		December 31, 2015				Level 1				Level 2				Level 3
Cash equivalents		$	13,218			$	13,218			$	—			$	—
Marketable securities			—				—				—				—
		$	13,218			$	13,218			$	—			$	—

Net of Inventory Obsolescence Reserve

Inventory, which includes the ex-factory cost of goods, capitalized warehouse costs and in-bound freight and duty, is valued at the lower of cost (first-in, first-out) or market, net of inventory obsolescence reserve, and consists of the following (in thousands):

		December 31,
		2014				2015
Raw materials		$	1,040			$	3,717
Finished goods			77,787				56,827
		$	78,827			$	60,544

Property and Equipment, Estimated Useful Lives

Property and equipment are stated at cost and are being depreciated using the straight-line method over their estimated useful lives as follows:

Office equipment	5 years
Automobiles	5 years
Furniture and fixtures	5 - 7 years
Leasehold improvements	Shorter of length of lease or 10 years

Reconciliation of the Weighted-Average Shares Used in Computation of Basic and Diluted Earnings Per Share

The following table is a reconciliation of the weighted-average shares used in the computation of basic and diluted earnings per share (“EPS”) for the periods presented (in thousands, except per share data):

		2013
						Weighted
						Average
		Loss				Shares				Per Share
Basic EPS
Loss available to common stockholders		$	(53,906	)			22,200			$	(2.43	)
Effect of dilutive securities:
Assumed conversion of convertible senior notes			—				—
Options and warrants			—				—
Unvested restricted stock grants			—				—
Diluted EPS
Loss available to common stockholders plus assumed exercises and conversion		$	(53,906	)			22,200			$	(2.43	)

		2014
						Weighted
						Average
		Income				Shares				Per Share
Basic EPS
Income available to common stockholders		$	21,509				20,948			$	1.03
Effect of dilutive securities:
Assumed conversion of convertible senior notes			7,345				20,388
Options and warrants			—				—
Unvested restricted stock grants			—				180
Diluted EPS
Income available to common stockholders plus assumed exercises and conversion		$	28,854				41,516			$	0.70

		2015
						Weighted
						Average
		Income				Shares				Per Share
Basic EPS
Income available to common stockholders		$	23,254				19,435			$	1.20
Effect of dilutive securities:
Assumed conversion of convertible senior notes			7,385				23,369
Options and warrants			—				—
Unvested performance stock grants			—				347
Unvested restricted stock grants			—				170
Diluted EPS
Income available to common stockholders plus assumed exercises and conversion		$	30,639				43,321			$	0.71

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
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