Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of share-based payment award, stock options, valuation assumptions

The weighted average assumptions utilized to determine the fair value of options granted during the three months ended March 31, 2017 were as follows:




	Three Months Ended March 31,
	2017
Risk-free interest rate	1.96	%
Expected volatility	35.53	%
Expected life (in years)	4.22
Dividend yield	0	%

Schedule of Share-based Compensation, Activity

(5) Stockholder's Equity

(a) Stock Equity and Incentive Plan

The Company recognizes stock-based compensation in accordance with the provisions of ASC Topic 718, Compensation--Stock Compensation. Stock-based compensation expense, excluding compensation charges related to our employee stock purchase plan, or the ESPP, was $843 and $943 for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018, there was $1,586 of total unrecognized compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 2.83 years. As of March 31, 2018, there was $3,379 of total unrecognized compensation expense related to restricted stock awards, which is expected to be recognized over a weighted-average period of 2.30 years.

Stock Options

During the three months ended March 31, 2018, no stock options were exercised for common stock and, as a result, no shares of common stock were delivered to the Company as payment for the exercise price or related minimum tax withholding obligations. During the three months ended March 31, 2018, no stock options were granted and 11 stock options expired, were canceled or were forfeited. The Company estimates the fair value of each option grant on the date of grant using the Black-Scholes option-pricing model. The weighted average assumptions utilized to determine the fair value of options granted during the three months ended March 31, 2017 were as follows:




	Three Months Ended March 31,
	2017
Risk-free interest rate	1.96	%
Expected volatility	35.53	%
Expected life (in years)	4.22
Dividend yield	0	%

As of March 31, 2018, there were 1,057 options outstanding with a weighted average exercise price of $10.04 per share and 338 options exercisable with a weighted average exercise price of $12.35 per share.

Restricted Stock

During the three months ended March 31, 2018, 20 shares of restricted stock were granted with a weighted average grant date fair value of $10.00 per share and no shares of restricted stock were forfeited. Additionally, during the three months ended March 31, 2018, 188 shares of restricted stock vested, none of which were surrendered to the Company as payment by employees in lieu of cash to satisfy minimum tax withholding obligations in connection with the vesting of restricted stock. As of March 31, 2018, there were 432 shares of restricted stock outstanding that were subject to service-based vesting conditions.

As of March 31, 2018, the Company had no unvested outstanding options and no shares of restricted stock that were subject to performance-based or market-based vesting conditions.

(b) Employee Stock Purchase Plan

The Company's Amended and Restated 1996 Employee Stock Purchase Plan (ESPP) affords eligible employees the right to purchase common stock, via payroll deductions, through various offering periods at a purchase price equal to 85% of the fair market value of the common stock on the first or last day of the offering period, whichever is lower. During the three months ended March 31, 2018 and 2017, no shares were issued under the ESPP plan. The Company recorded compensation charges of $10 and $17 for the three months ended March 31, 2018 and 2017, respectively, related to the ESPP.

The following table presents stock-based compensation expense, including under the ESPP, in the Company's consolidated statements of operations for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018		2017
Cost of product sales	$	71	$	82
Cost of service sales	—		—
Research and development	170		189
Sales, marketing and support	181		268
General and administrative	431		421
	$	853	$	960

Schedule of Accumulated Other Comprehensive Income (Loss)



	Foreign Currency Translation		Unrealized (Loss) Gain on Available for Sale Marketable Securities		Interest Rate Swaps		Total Accumulated Other Comprehensive Loss
Balance, December 31, 2017	(11,247	)	(1	)	(69	)	(11,317	)
Other comprehensive income before reclassifications	2,444		1		7		2,452
Amounts reclassified from AOCI to Other income, net	—		—		15		15
Net other comprehensive income, March 31, 2018	2,444		1		22		2,467
Balance, March 31, 2018	(8,803	)	—		(47	)	(8,850	)



	Foreign Currency Translation			Unrealized Gain (Loss) on Available for Sale Marketable Securities		Interest Rate Swaps			Total Accumulated Other Comprehensive Loss
Balance, December 31, 2016	$	(16,651	)	$	—	$	(158	)	$	(16,809	)
Other comprehensive income before reclassifications	601			—		5			606
Amounts reclassified from AOCI to Other income, net	—			—		22			22
Net other comprehensive income, March 31, 2017	601			—		27			628
Balance, March 31, 2017	(16,050		)	—		(131		)	(16,181		)

For additional information, see Note 4, "Marketable Securities," and Note 17, "Derivative Instruments and Hedging Activities."