v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net income (loss) $ (28,436) $ (30,363) $ 122
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation of property, plant and equipment 1,904 1,949 2,072
Amortization of land use right 36 36 36
Amortization of acquired intangible assets 4,526 $ 4,991 3,480
Utilization of subsidy from local authorities of Zhuhai, the People's Republic of China (the "PRC") $ (1,159) $ (1,068)
Allowance for doubtful accounts receivable $ 558
Write down on inventories $ 2,160 6,160 $ 857
(Gain) loss on disposal of property, plant and equipment $ 7 (1)
Loss on disposal of intangible assets 420
Impairment loss recognized in respect of intangible assets $ 4,467 $ 820
Fair value change in trading securities
Share-based compensation $ 380 $ 45 $ 492
Deferred tax $ (147) $ (3,576) $ 279
Proceeds from disposal of trading securities
Share of net loss (income) of equity method investees $ 317 $ (566) $ 264
Impairment recognized in respect of other investments 117 681
Changes in operating assets and liabilities:      
Accounts receivable (2,030) $ 2,349 195
Amount due from a related party 424 (349) (961)
Inventories (831) (256) (8,678)
Prepaid expenses and other current assets (3,080) (750) 922
Amount due from an equity method investee 24 (3) 41
Accounts payable (1,258) (173) $ (2,198)
Amount due to a related party 139 259
Accrued expenses and other current liabilities (480) (415) $ (4,210)
Income tax recoverable $ 186 (122) 123
Income tax payable 1 2
Rental deposit (paid) received $ (4) 5 $ (11)
Dividend received 2
Note Receivables $ 161 (161)
Net cash used in operating activities (22,577) (19,140) $ (7,560)
Investing activities:      
Purchase of marketable securities (10,151) (54,290) (113,329)
Purchase of property, plant and equipment $ (762) (1,156) (706)
Investment in an equity method investee (9,016) (3,712)
Deposit paid for acquisition of intangible assets (457) (145)
Purchase of intangible assets $ (3,589) (8,044) (4,134)
Proceeds from disposal of property, plant and equipment 16 20 41
(Increase) decrease in time deposit (184) 318 (340)
Increase in restricted deposits $ (42,700) (24,974) $ (16,819)
Proceeds from the disposal of intangible assets 24
Proceeds from redemption of marketable securities $ 35,438 159,296 $ 112,966
Net cash (used in) provided by investing activities (21,932) 61,721 (26,178)
Financing activities:      
Proceeds from exercise of share-based awards 763 2,542 3,041
Advance subsidy from local authorities of Zhuhai, the PRC 1,357 $ 232 $ 714
Distribution of government grant to third party (296)
Raise of short-term bank loans 61,000 $ 31,500 $ 15,000
Repayment of short-term bank loans (25,000) (22,000)
Repurchase of ordinary shares (34,020) (28,902) $ (4,853)
Net cash provided by (used in) financing activities 3,804 (16,628) 13,902
Net (decrease) increase in cash and cash equivalents (40,705) 25,953 (19,836)
Cash and cash equivalents at the beginning of the year 78,177 53,263 71,336
Effect of exchange rate changes on cash (1,210) (1,039) 1,763
Cash and cash equivalents at the end of the year 36,262 78,177 53,263
Cash paid during the period for:      
Interest $ (876) $ (531) (498)
Income taxes (90)
Non-cash investing activities      
Purchases of intangible assets $ (1,191) $ (2,807) (1,112)
Purchases of property, plant and equipment $ (156)