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Share-based Compensation Expense

9 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation Expense

Share-based Compensation Expense

Share-based compensation expense for the three and nine months ended September 30, 2013 and 2012 has been recorded as follows:

	Three months ended September 30,								Nine months ended September 30,
	2013				2012				2013				2012
Cost of goods sold	$	2			$	2			$	7			$	3
Sales and marketing	21				15				55				45
Research and product development	14				9				37				26
General and administrative	42				39				106				102
	$	79			$	65			$	205			$	176

As of September 30, 2013, the total remaining unrecognized compensation cost related to non-vested stock options, net of forfeitures, was approximately $894, which will be recognized over a weighted average period of 2.76 years.

During the three and nine months ended September 30, 2013, we granted 70,000 and 127,500 stock options, respectively. During the three and nine months ended September 30, 2012, we granted 92,000 and 187,000 stock options, respectively. We use judgment in determining the fair value of the share-based payments on the date of grant using an option-pricing model with assumptions regarding a number of highly complex and subjective variables.  These variables include the risk-free interest rate of the awards, the expected life of the awards, the expected volatility over the term of the awards, the expected dividends of the awards, and an estimate of the amount of awards that are expected to be forfeited.  We use the Black-Scholes option pricing model to determine the fair value of share-based payments granted under ASC Topic 718.

In applying the Black-Scholes methodology to the options granted, the Company used the following assumptions:

	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
Risk-free interest rate, average	2.3%		1.1%		1.8%		1.3%
Expected option life, average	6.7 years		7.3 years		6.8 years		7.2 years
Expected price volatility, average	49.5%		51.1%		49.8%		51.4%
Weighted average per share fair value	$4.28		$2.13		$4.38		$2.19

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- Definition

The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Also includes disclosure of compensation-related costs for equity-based compensation which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details, and employee stock purchase plan details.

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