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Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 8,978,156 $ 7,017,198
Marketable securities 29,306,444 23,553,203
Accounts receivable, net of allowance for doubtful accounts of $929,294 as of December 31, 2012 and $622,687 as of December 31, 2011 27,654,094 25,958,516
Inventories 16,203,380 18,614,726
Prepaid expenses and other assets 3,264,175 2,552,146
Deferred income taxes 1,145,600 1,281,327
Total current assets 86,551,849 78,977,116
Property and equipment, less accumulated depreciation of $31,657,385 as of December 31, 2012 and $27,508,397 as of December 31, 2011 36,733,118 34,009,872
Intangible assets, less accumulated amortization of $825,639 as of December 31, 2012 and $434,318 as of December 31, 2011 1,683,676 1,902,771
Goodwill 4,711,942 4,425,711
Other non-current assets 4,363,531 3,834,752
Deferred income taxes 3,523,691 5,405,492
Total assets 137,567,807 128,555,714
Current liabilities:    
Accounts payable 7,086,552 6,140,589
Accrued compensation and employee-related expenses 6,785,234 4,284,837
Accrued other 4,594,730 5,026,159
Accrued product warranty costs 813,802 933,184
Deferred revenue 1,891,792 2,683,982
Current portion of long-term debt 138,239 130,857
Total current liabilities 21,310,349 19,199,608
Other long-term liabilities 139,411 135,166
Line of credit 7,000,000 9,000,000
Long-term debt, excluding current portion 3,414,440 3,552,679
Total liabilities 31,864,200 31,887,453
Commitments and contingencies      
Stockholders’ equity:    
Preferred stock, $0.01 par value. Authorized 1,000,000 shares; none issued 0 0
Common stock, $0.01 par value. Authorized 30,000,000 shares, 16,563,836 and 16,207,268 shares issued; 14,904,845 and 14,548,277 shares outstanding at December 31, 2012 and December 31, 2011, respectively 165,726 162,160
Additional paid-in capital 111,513,635 106,592,491
Accumulated earnings 7,307,480 3,726,865
Accumulated other comprehensive loss (132,988) (663,009)
Total Stockholders equity before treasury stock adjustment 118,853,853 109,818,507
Less: treasury stock at cost, common stock, 1,658,991 shares as of December 31, 2012 and December 31, 2011, respectively (13,150,246) (13,150,246)
Total stockholders’ equity 105,703,607 96,668,261
Total liabilities and stockholders’ equity $ 137,567,807 $ 128,555,714