Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation (Tables)

v2.4.0.6
Basis of Presentation (Tables)
6 Months Ended
Jun. 30, 2012
Basis of Presentation [Abstract]  
Summary of computation of basic and diluted net income (loss) per share
                                 
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2012     2011     2012     2011  

Net income (loss) from continuing operations

  $ (4,066   $ (914   $ (4,553   $ 9,114  

Net income from discontinued operations

    1,799       —         3,670       4  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

    (2,267     (914     (883     9,118  
   

 

 

   

 

 

   

 

 

   

 

 

 

Shares used to compute basic and diluted income per share

    19,749,266       19,650,260       19,728,852       19,623,249  

Dilutive potential common shares:

                               

Restricted stock

    —         —         —         14,734  

Shares used to compute diluted income (loss) per share

    19,749,266       19,650,260       19,728,852       19,637,983  
   

 

 

   

 

 

   

 

 

   

 

 

 

Basic and diluted per share amounts:

                               

Income (loss) from continuing operations

  $ (0.20   $ (0.05   $ (0.23   $ 0.46  

Income from discontinued operations

    0.09       —         0.19       —    
   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

  $ (0.11   $ (0.05   $ (0.04   $ 0.46  
   

 

 

   

 

 

   

 

 

   

 

 

 
Schedule for Accounting for Share-Based Compensation
                                 
    Three Months Ended June 30,     Six Months Ended June 30,  
        2012             2011             2012             2011      

Share-based compensation expense as a component of:

                               

Research and Development expenses

  $ 523     $ 405     $ 948     $ 512  

General and administrative expenses

    871       816       1,155       1,178  
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 1,394     $ 1,221     $ 2,103     $ 1,690  
   

 

 

   

 

 

   

 

 

   

 

 

 
Summary of fair-value options awarded to employees and directors
                 
    Three Months Ended
June 30,
  Six Months Ended
June  30,
        2012           2011           2012           2011    

Risk-free interest rate

  0.9%   2.4%   1.0%   2.5%

Dividend yield

  —     —     —     —  

Expected volatility

  69%   68%   69%   69%

Expected term

  6.3 years   6.1 years   6.3 years   6.1 years

Forfeiture rate

  8.0%   9.4%   8.0%-11.2%   9.4%-14.1%
Summary of investment categories
                                 
    Cost     Gross unrealized
gains
    Gross unrealized
losses
    Estimated
fair value
 

June 30, 2012

                               

Certificates of deposit

  $ 1,500     $ —       $ —       $ 1,500  

Certificates of deposit - restricted

    1,341       —         —         1,341  
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 2,841     $ —       $ —       $ 2,841  
   

 

 

   

 

 

   

 

 

   

 

 

 

December 31, 2011

                               

Certificates of deposit

    10,000       —         —         10,000  

Certificates of deposit - restricted

    1,341       —         —         1,341  
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 11,341     $ —       $ —       $ 11,341  
   

 

 

   

 

 

   

 

 

   

 

 

 
Summary of other current assets
                 
    June 30,
2012
    December 31,
2011
 

Prepaid expenses

  $ 848     $ 905  

Advanced manufacturing payments

    56       312  

Other receivables

    1,121       127  
   

 

 

   

 

 

 
    $ 2,025     $ 1,344  
   

 

 

   

 

 

 
Summary of Property and equipment
                 
    June 30,
2012
    December 31,
2011
 

Lab and office equipment

  $ 4,392     $ 4,110  

Leasehold improvements

    —         62  

Computer equipment and software

    1,134       1,054  
   

 

 

   

 

 

 
      5,526       5,226  

Less accumulated depreciation and amortization

    (4,882     (4,771
   

 

 

   

 

 

 
    $ 644     $ 455  
   

 

 

   

 

 

 
Summary of Goodwill and Other Identifiable Intangible Assets
                 
    June 30,
2012
    December 31,
2011
 

Acquired in-process research and development

  $ 13,036     $ 13,036  

Complete technology

    14,643       14,643  

Trade name

    2,537       2,537  

Customer relationships

    29,400       29,400  

Goodwill

    14,894       14,894  
   

 

 

   

 

 

 
      74,510       74,510  

Accumulated amortization

    (3,343     (2,179
   

 

 

   

 

 

 
    $ 71,167     $ 72,331  
   

 

 

   

 

 

 
Summary of Accrued Liabilities
                 
    June 30,
2012
    December 31,
2011
 

Compensation

  $ 682     $ 1,806  

Professional fees

    576       355  

Other

    2,970       2,893  
   

 

 

   

 

 

 
    $ 4,228     $ 5,054  
   

 

 

   

 

 

 
Summary of other long-term liabilities
                 
    June 30,
2012
    December 31,
2011
 

Deposits

    388       388  
   

 

 

   

 

 

 
    $ 388     $ 388