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Shareholders' Equity
 12 Months Ended
Dec. 31, 2012
Shareholders' Equity [Abstract]  
Shareholders' Equity
NOTE 14:-
SHAREHOLDERS' EQUITY

The Ordinary shares of the Company are traded on Nasdaq Global Market and on the Tel Aviv Stock Exchange, under the symbol "CRNT".

 
a.
General:

The ordinary shares entitle their holders to receive notice to participate and vote in general meetings of the Company, the right to share in distributions upon liquidation of the Company, and to receive dividends, if declared.

 
b.
Stock options plans:

 
  1.
Under the Company's 2003 Share Option Plan ("the Plan"), options may be granted to officers, directors, employees and consultants of the Company or its subsidiaries. The options vest primarily over four years. The options expire ten years from the date of grant. On December 2012, the Company extended the term of the Plan for an additional period of ten years.

 
Upon adoption of the Plan, the Company reserved for issuance 17,920,688 ordinary shares in accordance with the respective terms thereof. As of December 31, 2012, the Company has 218,414 Ordinary shares available for future grant under the Plan. Any options, which are canceled or forfeited before the expiration date, become available for future grants.

 
  2.
On September 6, 2010, the Company's board of directors amended the Plan so as to enable to grant Restricted share Units ("RSUs") pursuant to such Plan.

 
  3.
The following is a summary of the Company's stock options and RSUs granted among the various plans:

                                 
   
Year ended December 31, 2010
  
   
Number
of options and RSUs
    
Weighted
average
exercise
price
    
Weighted average remaining contractual term
(in years)
    
Aggregate
intrinsic
value
  
                         
Outstanding at beginning of year
     5,388,323     $ 5.87              
Granted *)
     922,500     $ 8.27              
Exercised
     (979,982 )   $ 5.04              
Forfeited or expired
     (402,605 )   $ 9.92              
                             
Outstanding at end of the year
     4,928,236     $ 6.15       6.38     $ 34,698  
                                 
Options exercisable at end of the year
     3,192,108     $ 5.53       5.33     $ 24,455  
                                 
Vested and expected to vest
     4,836,371     $ 6.12       6.38     $ 34,193  

 
*)   Including 200,000 RSUs granted

                                 
   
Year ended December 31, 2011
  
   
Number
of options and RSUs
    
Weighted
average
exercise
price
    
Weighted average remaining contractual term
(in years)
    
Aggregate
intrinsic
value
  
                         
Outstanding at beginning of year *)
     4,928,236     $ 6.15              
Granted
     1,795,502     $ 11.79              
Exercised (**)
     (1,057,122 )   $ 4.24              
Forfeited or expired
     (210,272 )   $ 9.92              
                             
Outstanding at end of the year
     5,456,344     $ 8.23       7.01     $ 7,256  
                                 
Options exercisable at end of the year
     2,928,548     $ 6.58       5.55     $ 5,547  
                                 
Vested and expected to vest
     5,198,660     $ 8.08       6.91     $ 7,204  
 
 
*)  Including 200,000 RSUs granted
**) Including 50,000 RSUs exercised


                                 
   
Year ended December 31, 2012
  
   
Number
of options and RSUs
    
Weighted
average
exercise
price
    
Weighted average remaining contractual term
(in years)
    
Aggregate
intrinsic
value
  
                         
Outstanding at beginning of year *)
     5,456,344     $ 8.23              
Granted
     1,217,499     $ 8.45              
Exercised (**)
     (240,171 )   $ 3.04              
Forfeited or expired
     (306,290 )   $ 10.17              
                             
Outstanding at end of the year
     6,127,382     $ 8.38       7.95     $ 492  
                                 
Options exercisable at end of the year
     3,801,244     $ 7.62       5.52     $ 50  
                                 
Vested and expected to vest
     5,827,744     $ 8.32       7.94     $ 477  

 
  *)   Including 200,000 RSUs granted
  **) Including 50,000 RSU's exercised
 
The Company's options are generally granted at exercise prices which are equal to the average market value of the Ordinary shares in the period of 30 trading day prior to the grant date. The weighted average grant date fair values of the options granted during 2010, 2011 and 2012 were $ 5.89, $ 5.63 and $ 3.82, respectively. Grant date fair value of the RSUs granted during 2010 was $ 9.39.

The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the Company's closing stock price on the last trading day of fiscal 2012 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2012. This amount is impacted by the changes in the fair market value of the Company's shares. Total intrinsic value of options exercised during the years ended December 31, 2011 and 2012 were $ 7,278 and $ 874, respectively. As of December 31, 2012, there was $ 4,614 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company's stock option plans and $ 790 under the Company's RSUs plan.

That cost is expected to be recognized over a weighted-average period of approximately one year.
 
The following is a summary of the Company's stock options and RSUs granted separated into ranges of exercise price:

                                                     
Exercise price
(range)
    
Options and RSUs outstanding
as of
December 31, 2011
    
Weighted
average
remaining
contractual
life (years)
    
Weighted
average
exercise
price
    
Options and RSUs exercisable
as of
December 31, 2011
    
Remaining contractual life (years for exercisable options
    
Weighted
average
exercise
price
  
$
                
$
                 $  
                                         
RSUs 0.0
       150,000                   -             -  
  0.00-2.00       76,275       0.51       1.48       76,275       0.51       1.48  
  2.34-3.90       98,475       2.93       3.89       98,475       2.93       3.89  
  4.09-5.98       2,044,894       5.05       5.16       1,794,049       4.79       5.10  
  6.12-7.96       60,864       6.11       6.80       39,639       5.09       6.75  
  8.16-9.98       1,184,004       8.26       9.11       588,290       7.59       9.13  
  10.19-14.3       1,841,832       8.90       12.31       331,820       7.99       11.98  
                                                     
          5,456,344       7.01       8.23       2,928,548       5.55       6.58  
 
Exercise price
(range)
    
Options and RSUs outstanding
as of
December 31, 2012
    
Weighted
average
remaining
contractual
life (years)
    
Weighted
average
exercise
price
    
Options and RSUs exercisable
as of
December 31, 2012
    
Remaining contractual life (years for exercisable options
    
Weighted
average
exercise
price
  
$
                
$
                 $  
                                         
RSUs 0.0
       100,000                   -                
  0.00-2.00       -       -       -       -       -       -  
  2.34-3.90       94,975       2.00       3.89       94,975       2.00       3.89  
  4.02-5.98       2,035,969       4.30       5.13       1,998,447       4.23       5.12  
  6.12-7.96       98,364       6.86       6.87       43,264       3.79       6.79  
  8.16-9.98       2,095,088       8.08       9.02       757,064       6.86       9.12  
  10.19-14.3       1,702,986       7.86       12.33       907,494       7.66       12.29  
                                                     
          6,127,382       6.52       8.52       3,801,244       5.51       7.62  

The total equity-based compensation expense related to all of the Company's equity-based awards, recognized for the years ended December 31, 2010, 2011 and 2012, was comprised as follows:
 
                         
   
Year ended December 31,
  
   
2010
    
2011
    
2012
  
                   
Cost of revenues
   $ 315     $ 255     $ 197  
Research and development *)
     814       1,536       1,638  
Selling and marketing
     1,177       2,460       1,975  
General and administrative
     1,901       2,313       1,650  
                         
Total stock-based compensation expenses
   $ 4,207     $ 6,564     $ 5,460  

 
*)
Including $133, $ 460 and $ 473 compensation expenses related to RSUs for the year ended December 31, 2010, 2011 and 2012, respectively.
 
 
c.
Treasury shares:

In October 2008, the Company initiated a share repurchase program, under which, the Company is authorized to purchase its outstanding Ordinary shares up to aggregate value of $ 20,000. The purchases may be performed in the open market or in negotiated or block transactions, all subject to regulatory requirements. As of December 31, 2009, the Company had completed the share purchase program with a total purchase of 3,481,523 of its outstanding Ordinary shares, at a weighted average price per share of $ 5.74, for the total consideration of approximately $ 20,091 (including commission and broker fees).

 
d.
Dividends:

In the event that cash dividends are declared in the future, such dividends will be paid in NIS or in foreign currency subject to any statutory limitations. The Company does not intend to pay cash dividends in the foreseeable future.