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Stock Based Compensation (Tables)

3 Months Ended

Mar. 29, 2014

Activity in Stock Option Plan

The following table summarizes information regarding activity in our stock option plan during the three months ended March 29, 2014:

		Number of Shares			Weighted Average Exercise Price Per Share				Aggregate Intrinsic Value (thousands)
Outstanding at December 28, 2013		1,102,842			$	3.97
Granted		98,000			$	8.66
Exercised		(84,303	)		$	3.90
Canceled or forfeited		(2,208	)		$	4.26
Outstanding at March 29, 2014		1,114,331			$	4.39			$	4,697

Weighted Average Assumptions for Fair Value Estimate of Stock-Based Awards (Options)

The Company uses the Black-Scholes option-pricing model to estimate fair value of stock-based awards (options) with the following weighted average assumptions:

		Three Months Ended
		March 29, 2014				March 30, 2013
Average risk free interest rate			1.49	%			0.59	%
Expected life (in years)			4.5 years				4.5 years
Dividend yield			—	%			—	%
Average volatility			57	%			86	%

Stock-Based Compensation Expense

The following table shows stock-based compensation expense included in the condensed consolidated statements of operations for the three months ended March 29, 2014 and March 30, 2013:

		Three Months Ended
(in thousands)		March 29, 2014				March 30, 2013
Cost of revenues		$	34			$	22
Research and development			22				20
Sales and marketing			32				22
General and administrative			156				97
		$	244			$	161

Stock Options Outstanding, Exercisable and Expected to Vest

Information regarding stock options outstanding, vested and expected to vest and exercisable at March 29, 2014 is summarized below:

		Number of Shares				Weighted  Average Exercise Price				Weighted  Average Remaining  Contractual Life (Years)				Aggregate Intrinsic Value (thousands)
Options outstanding			1,114,331			$	4.39				3.78			$	4,697
Options vested and expected to vest			1,038,459			$	4.29				3.61			$	4,478
Options exercisable			659,237			$	3.71				2.36			$	3,218

Restricted Stock Units Activity

Information regarding the restricted stock units activity for the three months ended March 29, 2014 is summarized below:

	Number of Shares
Outstanding at December 28, 2013		269,259
Restricted stock units granted		50,000
Restricted stock units released		(35,000	)
Outstanding at March 29, 2014		284,259

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- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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