Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 25, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'LCA VISION INC | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 19,254,175 | ' |
Entity Public Float | ' | ' | $58,100,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0001003130 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $26,689 | $31,653 |
Investments | 1,984 | 2,804 |
Patient receivables, net of allowances of $719 and $1,019 | 3,026 | 2,810 |
Other accounts receivable, net | 950 | 443 |
Prepaid expenses and other | 1,820 | 3,318 |
Total current assets | 34,469 | 41,028 |
Property and equipment | 67,594 | 64,964 |
Accumulated depreciation | -60,557 | -58,584 |
Property and equipment, net | 7,037 | 6,380 |
Patient receivables, net of allowances of $423 and $634 | 1,186 | 1,059 |
Other assets | 223 | 501 |
Total assets | 42,915 | 48,968 |
Current liabilities | ' | ' |
Accounts payable | 7,218 | 8,046 |
Accrued liabilities and other | 6,868 | 11,930 |
Debt obligations maturing within one year | 777 | ' |
Total current liabilities | 14,863 | 19,976 |
Long-term insurance reserves, less current portion | 5,714 | 5,741 |
Other long-term liabilities | 2,127 | 3,454 |
Long-term debt obligations, less current portion | 1,080 | ' |
Stockholders' investment | ' | ' |
Common stock ($.001 par value; 25,291,637 shares issued and 19,254,175 and 19,050,504 shares outstanding, respectively) | 25 | 25 |
Contributed capital | 180,790 | 179,543 |
Common stock in treasury, at cost (6,037,462 shares and 6,241,133 shares, respectively | -110,034 | -111,395 |
Accumulated deficit | -52,013 | -49,053 |
Accumulated other comprehensive income | 363 | 677 |
Total stockholders' investment | 19,131 | 19,797 |
Total liabilities and stockholders' investment | $42,915 | $48,968 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Patient receivables, allowances, current (in Dollars) | $719 | $1,019 |
Patient receivables, allowances, noncurrent (in Dollars) | $423 | $634 |
Common stock, par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares issued | 25,291,637 | 25,291,637 |
Common stock, shares outstanding | 19,254,175 | 19,050,504 |
Common stock in treasury, shares | 6,037,462 | 6,241,133 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | $92,185 | $101,493 | $102,983 |
Operating costs and expenses | ' | ' | ' |
Medical professional and license fees | 20,091 | 23,715 | 24,628 |
Direct costs of services | 39,092 | 44,348 | 43,048 |
General and administrative | 11,684 | 13,442 | 13,942 |
Marketing and advertising | 21,635 | 23,055 | 22,678 |
Depreciation | 2,050 | 4,736 | 5,703 |
Impairment charges | ' | 617 | 104 |
Restructuring charges | 214 | 1,130 | 36 |
94,766 | 111,043 | 110,139 | |
Gain on sale of assets | 198 | 239 | 618 |
Operating loss | -2,383 | -9,311 | -6,538 |
Net investment income and other | 890 | 656 | 470 |
Loss before income taxes | -1,493 | -8,655 | -6,068 |
Income tax (benefit) expense | -125 | -138 | 130 |
Net loss | -1,368 | -8,517 | -6,198 |
Loss per common share | ' | ' | ' |
Basic and diluted (in Dollars per share) | ($0.07) | ($0.45) | ($0.33) |
Dividends declared per share (in Dollars per share) | $0 | $0 | $0 |
Weighted average shares outstanding | ' | ' | ' |
Basic and diluted (in Shares) | 19,199 | 18,982 | 18,811 |
Other comprehensive (loss) income, net of tax: | ' | ' | ' |
Foreign currency translation | -314 | 105 | -90 |
Unrealized investment (loss) gain | ' | -11 | 11 |
Total other comprehensive (loss) income, net of tax | -314 | 94 | -79 |
Comprehensive loss | ($1,682) | ($8,423) | ($6,277) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net loss | ($1,368) | ($8,517) | ($6,198) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Depreciation | 2,050 | 4,736 | 5,703 |
Provision for loss on doubtful accounts | 416 | 914 | 746 |
Loss (gain) on investments | ' | 68 | -42 |
Gain on sale of property and equipment | -198 | -239 | -618 |
Impairment charges | ' | 617 | 104 |
Stock-based compensation | 1,247 | 2,060 | 1,676 |
Insurance reserves | -31 | -604 | -191 |
Changes in operating assets and liabilities: | ' | ' | ' |
Patient accounts receivable | -782 | -1,610 | -1,128 |
Other accounts receivable | -496 | 1,522 | -397 |
Prepaid expenses and other | 437 | 793 | 784 |
Accounts payable | -828 | -57 | -7 |
Deferred revenue, net of professional fees | -783 | -2,264 | -3,938 |
Accrued liabilities and other | -3,952 | -2,507 | 5 |
Net cash used in operations | -4,288 | -5,088 | -3,501 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property and equipment | -700 | -1,160 | -1,509 |
Proceeds from sale of assets | 240 | 305 | 1,400 |
Purchases of investment securities | -1,984 | -39,656 | -166,968 |
Proceeds from sale of investment securities | 2,804 | 62,883 | 173,430 |
Net cash provided by investing activities | 360 | 22,372 | 6,353 |
Cash flows from financing activities: | ' | ' | ' |
Principal payments on loan | -491 | -4,004 | -3,280 |
Shares repurchased for treasury stock | -231 | -357 | -288 |
Proceeds from exercise of stock options | ' | 57 | 24 |
Net cash used in financing activities | -722 | -4,304 | -3,544 |
Net effect of exchange rate changes on cash and cash equivalents | -314 | 105 | -90 |
(Decrease) increase in cash and cash equivalents | -4,964 | 13,085 | -782 |
Cash and cash equivalents at beginning of year | 31,653 | 18,568 | 19,350 |
Cash and cash equivalents at end of year | 26,689 | 31,653 | 18,568 |
Cash paid or received during the year for: | ' | ' | ' |
Interest paid | 49 | 84 | 529 |
Income taxes refunded | 119 | 79 | 499 |
Income taxes paid | $144 | $64 | $64 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Investment (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] | Contributed Capital [Member] | Contributed Capital [Member] | Contributed Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance at beginning of year | $25 | $25 | $25 | $25 | ($111,395) | ($112,910) | ($114,033) | $179,543 | $177,287 | $175,610 | ($49,053) | ($38,720) | ($31,134) | $677 | $583 | $662 |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -314 | 105 | -90 |
Unrealized investment (loss) gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -11 | 11 |
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,368 | -8,517 | -6,198 | ' | ' | ' |
Shares repurchased | ' | ' | ' | ' | -231 | -301 | -265 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee stock plans | ' | ' | ' | ' | 1,592 | 1,816 | 1,388 | ' | 196 | 1 | -1,592 | -1,816 | -1,388 | ' | ' | ' |
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | 1,247 | 2,060 | 1,676 | ' | ' | ' | ' | ' | ' |
Balance at end of year | $25 | $25 | $25 | $25 | ($110,034) | ($111,395) | ($112,910) | $180,790 | $179,543 | $177,287 | ($52,013) | ($49,053) | ($38,720) | $363 | $677 | $583 |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Investment (Parentheticals) | 12 Months Ended | 12 Months Ended | ||||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] | |
Balance at beginning of year, shares | 25,291,637 | 25,291,637 | 25,291,637 | -6,241,133 | -6,433,490 | -6,580,272 |
Employee stock plans, shares | 4,250 | ' | ' | 275,005 | 250,018 | 181,599 |
Balance at end of year, shares | 25,291,637 | 25,291,637 | 25,291,637 | -6,037,462 | -6,241,133 | -6,433,490 |
Shares repurchased, shares | ' | ' | ' | -71,334 | -57,661 | -34,817 |
Note_1_Description_of_Business
Note 1 - Description of Business and Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Business Description and Accounting Policies [Text Block] | ' | ||||||||||||||||||||||||||||
1. Description of Business and Summary of Significant Accounting Policies | |||||||||||||||||||||||||||||
Business | |||||||||||||||||||||||||||||
We are a provider of fixed-site laser vision correction services at our LasikPlus® vision centers. Our vision centers provide the staff, facilities, equipment and support services for performing laser vision correction that employ advanced laser technologies to help correct nearsightedness, farsightedness and astigmatism. We currently use two suppliers for lasers: Abbott Medical Optics (“AMO”) and Alcon Inc. (“Alcon”). Our vision centers are supported by independent ophthalmologists and credentialed optometrists, as well as other healthcare professionals. The ophthalmologists perform the laser vision correction procedures in our vision centers, and either ophthalmologists or optometrists conduct pre-procedure evaluations and post-operative follow-up care in-center. Most of our patients receive a procedure called LASIK, which we began performing in the United States in 1995. | |||||||||||||||||||||||||||||
As of December 31, 2013, we operated 61 LasikPlus® vision centers in the United States. Included in that number are five vision centers licensed to ophthalmologists to operate using our trademarks and nine pre- and post-operative satellite centers. Beginning in 2011, we began offering refractive lens and cataract services in certain of our existing markets. Our refractive lens and cataract services were not significant in 2013, and we do not anticipate our refractive lens services will represent a significant portion of our operations in 2014. | |||||||||||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||||||||||
The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Significant items that are subject to such estimates and assumptions include investment valuation, allowance for doubtful accounts against patient receivables, insurance reserves, income taxes and enhancement accruals. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ significantly from the estimates under different assumptions or conditions. | |||||||||||||||||||||||||||||
Consolidation and Basis of Presentation | |||||||||||||||||||||||||||||
The Consolidated Financial Statements include all of the assets, liabilities, revenues, expenses and cash flows of entities in which we have a controlling interest. In addition, we consolidate the results of operations of professional corporations with which we contract to provide the services of ophthalmologists or optometrists at our vision centers. Investments in joint ventures and 20% to 50% owned affiliates where we have the ability to exert significant influence have been accounted for by the equity method. Intercompany transactions and balances have been eliminated upon consolidation. | |||||||||||||||||||||||||||||
Reclassifications | |||||||||||||||||||||||||||||
We have reclassified certain prior-period amounts in the Consolidated Balance Sheets and Statements of Cash Flows to conform to current period presentation. The reclassifications were not material to the Consolidated Financial Statements. | |||||||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||||||
We consider highly liquid investments with an original maturity of 90 days or less when purchased to be cash equivalents. | |||||||||||||||||||||||||||||
Investments | |||||||||||||||||||||||||||||
Management determines the appropriate classification of securities at the time of purchase and reevaluates such designation as of each balance sheet date. Currently, we classify all securities as available-for-sale. We carry available-for-sale securities at fair value, with temporary unrealized gains and losses, net of tax, reported in accumulated other comprehensive income, a component of stockholders’ investment. The amortized cost of debt securities in this category reflects amortization of premiums and accretion of discounts to maturity computed under the effective interest method. We include this amortization in the caption “Net investment income and other” within the Consolidated Statements of Operations and Comprehensive Loss. We also include in net investment income realized gains and losses and declines in value determined to be other-than-temporary. We base the cost of securities sold upon the specific identification method. We include interest and dividends on securities classified as available-for-sale in net investment income. | |||||||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||||
We apply fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk (including our own non-performance risk). | |||||||||||||||||||||||||||||
Patient Receivables and Allowance for Doubtful Accounts | |||||||||||||||||||||||||||||
We provide financing to some of our patients, including those who could not otherwise obtain third-party financing. The terms of the financing usually require the patient to pay an up-front fee which is intended to cover some or all of our variable costs, and then generally we deduct the remainder automatically from the patient’s bank account over a period of 12 to 36 months. We have recorded an allowance for doubtful accounts as a best estimate of the amount of probable credit losses from our patient financing program. Each month, we review and adjust the allowance based upon our own experience with patient financing. We charge-off receivables against the allowance for doubtful accounts when it is probable that a receivable will not be recovered. Our policy is to reserve for all patient receivables that remain open past their financial maturity date and to provide reserves for patient receivables prior to the maturity date so as to bring patient receivables, net of reserves, down to the estimated net realizable value based on historical collectability rates, recent default activity and the current credit environment. Bad debt expense was $416,000, or 0.5% of revenues for 2013, $914,000, or 0.9% of revenues for 2012, and $746,000, or 0.7% of revenues, for 2011. We recognized bad debt expense as a component of direct costs of services within the Consolidated Statements of Operations and Comprehensive Loss as we assess collectability at the time services are rendered. During 2013, we wrote off $1.1 million of receivables against the allowance for doubtful accounts and recovered $109,000 in receivables previously written off. During 2012, we wrote off $1.0 million of receivables against the allowance for doubtful accounts and recovered $127,000 in receivables previously written off. | |||||||||||||||||||||||||||||
For patients whom we internally finance, we charge interest at market rates. Finance and interest charges on patient receivables were $851,000 in 2013, $820,000 in 2012 and $621,000 in 2011. We include these amounts in “Net investment income and other” within the Consolidated Statements of Operations and Comprehensive Loss. | |||||||||||||||||||||||||||||
At December 31, 2013 we did not deem necessary any allowance for doubtful accounts for our other accounts receivable. We maintained an allowance for doubtful accounts for our other accounts receivable of $340,000 at December 31, 2012. | |||||||||||||||||||||||||||||
Property and Equipment, Depreciation and Amortization | |||||||||||||||||||||||||||||
We record our property and equipment at its original cost, net of accumulated depreciation. At the time that property or equipment is retired, sold, or otherwise disposed of, we deduct the related cost and accumulated depreciation from the amounts reported in the Consolidated Balance Sheets and recognize any gains or losses on disposition in the Consolidated Statements of Operations and Comprehensive Loss. We expense repair and maintenance costs as incurred. We include assets recorded under capitalized leases within property and equipment. | |||||||||||||||||||||||||||||
We compute depreciation using the straight-line method, which recognizes the cost of the asset over its estimated useful life. We use the following estimated useful lives for computing the annual depreciation expense: | |||||||||||||||||||||||||||||
Fixed Asset Group | Depreciable | ||||||||||||||||||||||||||||
Lives (years) | |||||||||||||||||||||||||||||
Building and building improvements | 5 | - | 39 | ||||||||||||||||||||||||||
Furniture and fixtures | 3 | - | 7 | ||||||||||||||||||||||||||
Medical equipment | 3 | - | 5 | ||||||||||||||||||||||||||
Other equipment | 3 | - | 5 | ||||||||||||||||||||||||||
We record amortization of leasehold improvements in the Consolidated Statements of Operations and Comprehensive Loss as a component of depreciation expense using the straight-line method based on the lesser of the useful life of the improvement or the lease term, which is typically five years or less. | |||||||||||||||||||||||||||||
We assess the impairment of property and equipment whenever events or circumstances indicate that the carrying value might not be recoverable. Recoverability of long-lived assets is assessed by comparison of the carrying amount of the asset to the estimated future undiscounted net cash flows expected to be generated by the asset or group of assets. We write down to fair value, which is generally determined from estimated discounted cash flows for assets held for use, recorded values of property and equipment that we do not expect to recover through undiscounted future net cash flows. During 2013 we did not recognize any fixed asset impairment charges. During 2012, we recognized fixed asset impairment charges of $617,000 primarily as a result of our decision to close under-performing vision centers and relocate our patient communication center to our corporate headquarters. The closures of the vision centers do not qualify for classification as a discontinued operation due to continuing cash flows. | |||||||||||||||||||||||||||||
Accrued Enhancement Expense | |||||||||||||||||||||||||||||
We include participation in our LasikPlus Advantage Plan® (acuity program) in the base surgical price for substantially all of our patients. Under the acuity program, if determined to be medically appropriate, we provide post-surgical enhancements free of charge should the patient not achieve the desired visual correction during the initial procedure. Under this pricing structure, we account for the acuity program as a warranty obligation. Accordingly, we accrue the costs expected to be incurred to satisfy the obligation as a liability and direct cost of service at the point of sale given our ability to estimate reasonably such costs based on historical trends and the satisfaction of all other revenue recognition criteria. | |||||||||||||||||||||||||||||
We record a post-surgical enhancement accrual based on our best estimate of the number and associated cost of the procedures to be performed. Each month, we review the enhancement accrual and consider factors such as procedure cost and historical procedure volume when determining the appropriateness of the recorded balance. As of December 31, 2013 and 2012, we maintained an enhancement accrual of $2.0 million and $2.8 million, respectively. We record the long-term portion of the enhancement accrual of $1.3 million and $1.8 million as of December 31, 2013 and 2012, respectively, as a component of “Other long-term liabilities” on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||
Insurance Reserves | |||||||||||||||||||||||||||||
We maintain a captive insurance company to provide professional liability insurance coverage for claims brought against us and our optometrists after December 17, 2002. In addition, our captive insurance company’s charter allows it to provide professional liability insurance for our ophthalmologists, none of whom are currently insured by the captive. We use the captive insurance company for both primary insurance and excess liability coverage. A number of claims are now pending with our captive insurance company. We consolidate the financial statements of the captive insurance company with our financial statements because it is a wholly-owned enterprise. As of December 31, 2013 and 2012, we maintained insurance reserves of $6.6 million, which represented an actuarially determined estimate of future costs associated with claims filed as well as claims incurred but not yet reported. We recorded $867,000 and $871,000 of the total insurance reserve as a current liability in “Accrued liabilities and other” at December 31, 2013 and 2012, respectively. Our actuaries determine loss reserves by comparing our historical claim experience to comparable insurance industry experience. Since the inception of the captive insurance company in 2002, it has disbursed total claims and legal expenses of approximately $8.1 million. | |||||||||||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||||||
We are subject to income taxes in the United States and Canada. Significant judgment is required in determining our provision for income taxes and the related assets and liabilities. The provision for income taxes includes income taxes paid, currently payable or receivable, and those deferred. We determine deferred tax assets and liabilities based on differences between the financial reporting and tax basis of assets and liabilities, and we measure them using enacted tax rates and laws that are expected to be in effect when the differences reverse. We recognize the effect on deferred taxes of changes in tax rates in the period in which the enactment date changes. We establish valuation allowances when necessary on a jurisdictional basis to reduce deferred tax assets to the amounts expected to be realized. | |||||||||||||||||||||||||||||
In the ordinary course of business, there are certain transactions and calculations where the ultimate tax determination is uncertain. The evaluation of a tax position in accordance with U.S. GAAP is a two-step process. The first step is a recognition process to determine whether it is more-likely-than-not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The second step is a measurement process whereby a tax position that meets the more-likely-than-not recognition threshold is assessed to determine the cost or benefit to be recognized in the financial statements. | |||||||||||||||||||||||||||||
Per Share Data | |||||||||||||||||||||||||||||
Basic per share data is income applicable to common shares divided by the weighted average common shares outstanding. Diluted per share data is income applicable to common shares divided by the weighted average common shares outstanding plus shares issuable upon the vesting of outstanding restricted stock units and the exercise of in-the-money stock options. | |||||||||||||||||||||||||||||
The following is a reconciliation of basic and diluted loss per share (in thousands, except per share data). | |||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Basic Loss | |||||||||||||||||||||||||||||
Net loss | $ | (1,368 | ) | $ | (8,517 | ) | $ | (6,198 | ) | ||||||||||||||||||||
Weighted average common shares outstanding | 19,199 | 18,982 | 18,811 | ||||||||||||||||||||||||||
Basic loss per share | $ | (0.07 | ) | $ | (0.45 | ) | $ | (0.33 | ) | ||||||||||||||||||||
Diluted Loss | |||||||||||||||||||||||||||||
Net loss | $ | (1,368 | ) | $ | (8,517 | ) | $ | (6,198 | ) | ||||||||||||||||||||
Weighted average common shares outstanding | 19,199 | 18,982 | 18,811 | ||||||||||||||||||||||||||
Effect of dilutive securities | |||||||||||||||||||||||||||||
Stock options | - | - | - | ||||||||||||||||||||||||||
Restricted stock | - | - | - | ||||||||||||||||||||||||||
Weighted average common shares outstanding and potential dilutive shares | 19,199 | 18,982 | 18,811 | ||||||||||||||||||||||||||
Diluted loss per share | $ | (0.07 | ) | $ | (0.45 | ) | $ | (0.33 | ) | ||||||||||||||||||||
For 2013, 2012 and 2011, we excluded all outstanding stock options and restricted stock awards from the computation of our diluted earnings per share because the effect of these share-based awards was antidilutive due to our net losses. | |||||||||||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||||||||||
We recognize revenues as services are performed and persuasive evidence of an arrangement for payment exists. Additionally, we recognize revenue when the price is fixed and determinable and collectability is reasonably assured. We deferred revenues associated with separately priced acuity programs and recognize it over the period in which future costs of performing the post-surgical enhancement procedures are expected to be incurred as we have sufficient experience to support that costs associated with future enhancements will be incurred on other than a straight-line basis. We report all revenues net of tax assessed by applicable governmental authorities. | |||||||||||||||||||||||||||||
Marketing and Advertising Expenditures | |||||||||||||||||||||||||||||
We expense marketing and advertising costs as incurred, except for the costs associated with direct mail. Direct mail costs include printing mailers for future use, purchasing mailing lists of potential patients and postage cost. We expense printing and postage costs as the items are mailed. | |||||||||||||||||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||||||||||
We account for stock-based payment transactions in which we receive employee services in exchange for (a) our stock or (b) liabilities that are based on the fair value of our stock or that may be settled by the issuance of our stock. Stock-based compensation cost for restricted stock units (“RSUs”) is measured based on the closing fair market value of our common stock on the date of grant. Stock-based compensation cost for stock options is estimated at the grant date based on each option’s fair-value as calculated by the Black-Scholes option-pricing model. We recognize stock-based compensation cost as expense for these awards ratably on a straight-line basis over the requisite service period. We also grant awards that are tied to the achievement of certain financial targets and stock-performance criteria. These awards are granted annually and cover a three-year performance cycle. Performance measures used to determine the actual number of shares issuable upon vesting include a weighting of revenue, operating income, and earnings per share targets and our total shareholder return (“TSR”) performance. TSR is considered a market condition but the revenue, operating income, and earnings per share targets are considered a performance condition under applicable U.S. GAAP. The fair value of these portions of the performance share awards is equal to the fair market value of our common stock on the date of the grant. We recognize compensation cost over the requisite service period if it is probable that the performance condition will be satisfied. We calculate the fair value of the TSR portion of the performance share awards using a Monte Carlo simulation valuation model. Compensation cost is recognized over the requisite service period regardless of whether the market condition is satisfied. We will recognize a benefit from stock-based compensation in equity if an incremental tax benefit is realized by following the ordering provisions of the tax law. Further information regarding stock-based compensation can be found in Note 9, “Employee Benefits.” | |||||||||||||||||||||||||||||
Geographic Information | |||||||||||||||||||||||||||||
We have no operations or assets in any countries other than the U.S. and Canada. No single customer represented more than 10% of revenues in 2013, 2012, or 2011. Information about our domestic and international operations is as follows (dollars in thousands): | |||||||||||||||||||||||||||||
Revenues from External Customers | Net Assets | Property and Equipment | |||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
United States | $ | 92,185 | $ | 101,493 | $ | 102,983 | $ | 14,749 | $ | 15,143 | $ | 7,037 | $ | 6,380 | |||||||||||||||
Canada | - | - | - | 4,382 | 4,654 | - | - | ||||||||||||||||||||||
$ | 92,185 | $ | 101,493 | $ | 102,983 | $ | 19,131 | $ | 19,797 | $ | 7,037 | $ | 6,380 | ||||||||||||||||
Subsequent Events | |||||||||||||||||||||||||||||
We evaluated all events or transactions that occurred after December 31, 2013 through the date we issued these Consolidated Financial Statements. |
Note_2_Stockholders_Investment
Note 2 - Stockholders' Investment | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
2. Stockholders' Investment | |
Capital Stock | |
We have 27.5 million authorized shares of common stock with $0.001 per share par value and 5.0 million authorized shares of preferred stock. The holders of the common stock may cast one vote for each share held of record on all matters submitted to a vote of stockholders. Subject to preferences that may be applicable to any outstanding preferred stock, holders of common stock are entitled to receive ratably such dividends as may be declared from time to time by our Board of Directors out of funds legally available for that purpose. In the event of liquidation, dissolution or winding up, the holders of common stock share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock, if any, then outstanding. | |
Share Repurchase Programs | |
On August 21, 2007, our Board of Directors authorized a share repurchase plan under which we are authorized to purchase up to an additional $50.0 million of our common stock. Through December 31, 2008, we repurchased 588,408 shares of our common stock under this program at an average price of $16.99 per share, for a total cost of approximately $10.0 million. We have not purchased any shares of our common stock under this program since 2008. At December 31, 2013, we held 6.0 million shares of our common stock in treasury. | |
Dividends | |
We have not paid any dividends since 2008. |
Note_3_Investments
Note 3 - Investments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||
3. Investments | |||||||||||||||||
The following table summarizes unrealized gains and losses related to our investments designated as available-for-sale (dollars in thousands): | |||||||||||||||||
As of December 31, 2013 | |||||||||||||||||
Adjusted | Gross | Gross | Fair Value | ||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Gains | Losses | ||||||||||||||||
Certificates of deposit | $ | 1,984 | $ | - | $ | - | $ | 1,984 | |||||||||
Total investments | $ | 1,984 | $ | - | $ | - | $ | 1,984 | |||||||||
As of December 31, 2012 | |||||||||||||||||
Adjusted | Gross | Gross | Fair Value | ||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Gains | Losses | ||||||||||||||||
Certificates of deposit | $ | 2,804 | $ | - | $ | - | $ | 2,804 | |||||||||
Total investments | $ | 2,804 | $ | - | $ | - | $ | 2,804 | |||||||||
No investments were in an unrealized loss position at December 31, 2013 or 2012. | |||||||||||||||||
We realized no gains or losses on sales of our marketable securities during the year ended December 31, 2013. We had realized gains of $3,000 and losses of $60,000 and gains of $52,000 and no losses on the sale of marketable securities during the years ended December 31, 2012 and 2011, respectively. | |||||||||||||||||
We show below the net carrying value and estimated fair value of debt and equity securities available for sale at December 31, 2013, by contractual maturity (dollars in thousands). Expected maturities may differ from contractual maturities because the issuers of the securities may have the right or obligation to prepay obligations without prepayment penalties. | |||||||||||||||||
Amortized | Estimated | ||||||||||||||||
Cost | Fair Value | ||||||||||||||||
Due in one year or less | $ | - | $ | - | |||||||||||||
Due after one year through three years | 1,984 | 1,984 | |||||||||||||||
Due after three years | - | - | |||||||||||||||
Total investment securities | $ | 1,984 | $ | 1,984 | |||||||||||||
Note_4_Debt
Note 4 - Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt Disclosure [Text Block] | ' | ||||||||
4. Debt | |||||||||
Long-term debt obligations consist of (dollars in thousands): | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Third party debt | $ | 1,857 | $ | - | |||||
Debt obligations maturing within one year | (777 | ) | - | ||||||
Long-term obligations (less current portion) | $ | 1,080 | $ | - | |||||
In April 2013, we purchased excimer lasers for all of our full-service vision centers, which we had previously leased, for $2.3 million, through a vendor financed transaction. The terms of the financing provide for monthly payments over a 36-month term at a fixed interest rate of 3.5%. | |||||||||
The financing agreement does not contain any financial covenants and is secured by the excimer lasers. The estimated fair value of our debt obligations is $1.8 million based on the present value of the underlying cash flows discounted at our incremental borrowing rate. Within the hierarchy of fair value measurements, this is a Level 3 fair value measurement. The financing agreement represents a significant financing activity which affected recognized assets and liabilities by $2.3 million, with payments totaling $491,000 during the year ending December 31, 2013. |
Note_5_Fair_Value_Measurements
Note 5 - Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||||||||||||||
5. Fair Value Measurements | |||||||||||||||||||||||||||||||||
U.S. GAAP establishes a three-tier hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value. | |||||||||||||||||||||||||||||||||
Level 1: Quoted prices for identical assets or liabilities in active markets at the measurement date | |||||||||||||||||||||||||||||||||
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data at the measurement date | |||||||||||||||||||||||||||||||||
Level 3: Unobservable inputs reflecting management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date | |||||||||||||||||||||||||||||||||
When applying the fair value principles in valuation of assets and liabilities, we are required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short-term maturity of these instruments. | |||||||||||||||||||||||||||||||||
The following table summarizes fair value measurements by level at December 31, 2013 and 2012 for assets and liabilities measured at fair value on a recurring basis (dollars in thousands): | |||||||||||||||||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Investments | $ | - | $ | - | $ | 1,984 | $ | 2,804 | $ | - | $ | - | $ | 1,984 | $ | 2,804 | |||||||||||||||||
Total assets at fair value | $ | - | $ | - | $ | 1,984 | $ | 2,804 | $ | - | $ | - | $ | 1,984 | $ | 2,804 | |||||||||||||||||
The valuation technique used to measure fair value of certificates of deposit was based on quoted market prices or corroborated by observable market data. | |||||||||||||||||||||||||||||||||
There were no transfers between Level 1 and Level 2 measurements in 2013 or 2012. The following table sets forth a reconciliation of beginning and ending balances for auction rate security assets measured at fair value using significant unobservable inputs (Level 3) during 2013 and 2012 (dollars in thousands). | |||||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||||
Description | 2013 | 2012 | |||||||||||||||||||||||||||||||
Balance as of January 1 | $ | - | $ | 902 | |||||||||||||||||||||||||||||
Assets acquired | - | - | |||||||||||||||||||||||||||||||
Assets sold or redeemed | - | (822 | ) | ||||||||||||||||||||||||||||||
Transfers out of Level 3 | - | - | |||||||||||||||||||||||||||||||
Losses included in earnings | - | (71 | ) | ||||||||||||||||||||||||||||||
Losses included in other comprehensive loss | - | (9 | ) | ||||||||||||||||||||||||||||||
Balance as of December 31 | $ | - | $ | - | |||||||||||||||||||||||||||||
Note_6_Income_Taxes
Note 6 - Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||
6. Income Taxes | |||||||||||||
The following table presents the components of income tax (benefit) expense (dollars in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current tax (benefit) expense: | |||||||||||||
Federal | $ | (186 | ) | $ | (77 | ) | $ | 26 | |||||
U.S. State and local | 61 | (61 | ) | 104 | |||||||||
Total current | (125 | ) | (138 | ) | 130 | ||||||||
Deferred tax (benefit) expense: | |||||||||||||
Federal | $ | - | $ | - | $ | - | |||||||
U.S. State and local | - | - | - | ||||||||||
Total deferred | - | - | - | ||||||||||
Total income tax (benefit) expense | $ | (125 | ) | $ | (138 | ) | $ | 130 | |||||
The following table presents loss before income taxes (dollars in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States | $ | (1,535 | ) | $ | (8,706 | ) | $ | (6,092 | ) | ||||
Canada | 42 | 51 | 24 | ||||||||||
Total | $ | (1,493 | ) | $ | (8,655 | ) | $ | (6,068 | ) | ||||
The following table reconciles the U.S. statutory federal income tax rate and the tax (benefit) expense shown in our Consolidated Statements of Operations and Comprehensive Loss (dollars in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Tax at statutory U.S. federal income tax rate of 35% | $ | (523 | ) | $ | (3,029 | ) | $ | (2,124 | ) | ||||
State and local income taxes, net of federal benefit | 45 | (293 | ) | (148 | ) | ||||||||
Permanent differences | (26 | ) | 33 | 171 | |||||||||
Resolution and reevaluation of tax positions | (204 | ) | (102 | ) | 75 | ||||||||
Other | 428 | 281 | (131 | ) | |||||||||
Valuation allowance | 155 | 2,972 | 2,287 | ||||||||||
Income tax (benefit) expense | $ | (125 | ) | $ | (138 | ) | $ | 130 | |||||
We have made no provision for U.S. income taxes on undistributed earnings of approximately $2.3 million from our Canadian subsidiary because it is our intention to reinvest those earnings. If those earnings are distributed in the form of dividends, we may be subject to both foreign withholding taxes and U.S. income taxes net of allowable foreign tax credits. The amount of additional tax that might be payable upon repatriation of those foreign earnings is approximately $242,000. | |||||||||||||
U.S. GAAP requires a company to establish a valuation allowance for deferred tax assets when it is more-likely-than-not that the deferred tax asset will not be realized. Deferred tax assets may be realized through future reversals of existing taxable temporary differences, future taxable income, taxable income in prior carryback year(s) if carryback is permitted, and tax planning strategies. After considering all of the evidence, we concluded that reliance on future projections of income was no longer sufficient to support realization of our deferred tax assets. Accordingly, we maintain a valuation allowance against all of our net deferred tax assets. As of December 31, 2013, we had net operating loss carryforwards for federal and state income taxes of approximately $46.8 million and $74.8 million, respectively, which will be available to offset future taxable income. Approximately $6.8 million of state net operating loss is subject to an annual IRC Section 382 limitation of $5.3 million. If not used, these carryforwards will expire between 2014 and 2033. To the extent net operating loss carryforwards, when realized, relate to non-qualified stock option deductions, the resulting benefits will be credited to stockholders' investment. | |||||||||||||
Deferred taxes arise because of temporary differences in the book and tax basis of certain assets and liabilities. The following table shows the significant components of our deferred taxes (dollars in thousands): | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Deferred revenue | $ | 31 | $ | 336 | |||||||||
Allowance for doubtful accounts | 444 | 775 | |||||||||||
Accrued enhancement expense | 788 | 1,101 | |||||||||||
Insurance reserves | 1,143 | 1,159 | |||||||||||
Deferred lease credits | 215 | 319 | |||||||||||
Share-based compensation | 502 | 986 | |||||||||||
Vendor rebates | 49 | 662 | |||||||||||
Property and equipment | 3,238 | 1,549 | |||||||||||
Net operating and capital loss carryforward | 20,449 | 17,563 | |||||||||||
Other | 403 | 2,596 | |||||||||||
Valuation allowance | (26,532 | ) | (26,377 | ) | |||||||||
Total deferred tax assets | $ | 730 | $ | 669 | |||||||||
Deferred tax liabilities: | |||||||||||||
Deferred lease incentives | $ | 648 | $ | 566 | |||||||||
Prepaid service | 82 | 103 | |||||||||||
Total deferred tax liabilities | $ | 730 | $ | 669 | |||||||||
Net deferred tax assets | $ | - | $ | - | |||||||||
Changes in unrecognized tax benefits were as follows (dollars in thousands): | |||||||||||||
2013 | 2012 | ||||||||||||
Balance, beginning of year | $ | 508 | $ | 614 | |||||||||
Additions based on tax positions related to the current year | 57 | 52 | |||||||||||
Additions for tax positions of prior years | 12 | 1 | |||||||||||
Reductions due to statute expiration | (273 | ) | (155 | ) | |||||||||
Settlements | - | (4 | ) | ||||||||||
Balance, end of year | $ | 304 | $ | 508 | |||||||||
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate is $198,000. It is reasonably possible that the amount of the unrecognized tax benefits may increase or decrease within the next 12 months. However, we do not presently anticipate that any increase or decrease in unrecognized tax benefits will be material to the Consolidated Financial Statements. We record unrecognized tax benefits as a component of “Accrued liabilities and other” in our Consolidated Balance Sheets. | |||||||||||||
We recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense in the Consolidated Statements of Operations. During the year ended December 31, 2013, we recognized tax expense of approximately $17,000 in interest and penalties, offset by an $84,000 benefit related to interest expense previously recognized on unrecognized tax benefits whose statute of limitations expired in 2013. We have accrued approximately $23,000 and $90,000 in interest and penalties related to unrecognized tax benefits as of December 31, 2013 and 2012, respectively, recorded as a component of “Accrued liabilities and other” in our Consolidated Balance Sheets. | |||||||||||||
We file income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and Canada. We are subject to audit by taxing authorities for fiscal years ending after 2010. Our federal and state income tax return filings generally are subject to a three-year statute of limitations from date of filing. In the fourth quarter of 2013, the Internal Revenue Service initiated an examination of the tax year 2011. We cannot predict the timing of the conclusion of the audit. Based on the early status of the audit and protocol of finalizing audits by the relevant tax authorities, we cannot estimate the impact of such changes, if any, to previously recorded unrecognized tax benefits. |
Note_7_Leasing_Arrangements
Note 7 - Leasing Arrangements | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases [Abstract] | ' | ||||
Leases of Lessee Disclosure [Text Block] | ' | ||||
7. Leasing Arrangements | |||||
We lease office space for our vision centers under lease arrangements that qualify as operating leases. For leases that contain pre-determined fixed escalations of the minimum rentals and/or rent abatements subsequent to taking possession of the leased property, we recognize the related rent expense on a straight-line basis and record the difference between the recognized rental expense and amounts payable under the leases as deferred lease credits. | |||||
The following table displays our aggregate minimal rental commitments, net of guaranteed sub-lease income under noncancellable leases for the periods shown (dollars in thousands): | |||||
Year | Operating | ||||
Lease | |||||
Obligations | |||||
2014 | $ | 6,463 | |||
2015 | 5,463 | ||||
2016 | 4,856 | ||||
2017 | 3,838 | ||||
2018 | 1,826 | ||||
Beyond 2018 | 1,019 | ||||
Total minimum rental commitment | $ | 23,465 | |||
Total rent expense under operating leases amounted to $6.0 million in 2013, $6.3 million in 2012 and $6.7 million in 2011. | |||||
In April 2009, we entered into a five-year lease agreement with AMO for new excimer lasers which allowed us to standardize our excimer treatment platforms. As part of the transaction, we disposed of our Bausch & Lomb lasers and related capital lease obligations. We received cash payments from the lessor and have deferred these amounts and are recognizing them ratably over the lease term. We include the unrecognized portion in “Accrued liabilities and other” for the current portion and in “Deferred license fees” for the long-term portion in our Consolidated Balance Sheets at December 31, 2013 and 2012. The AMO laser lease qualified as a capital lease. However, at December 31, 2013, we did not have any obligations under the capital lease arrangement with AMO because we had purchased the leased lasers. |
Note_8_Employee_Benefits
Note 8 - Employee Benefits | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||||||||||||||
8. Employee Benefits | |||||||||||||||||||||||||||||
Savings Plan | |||||||||||||||||||||||||||||
We sponsor a savings plan under Internal Revenue Code Section 401(k) to provide an opportunity for eligible employees to save for retirement on a tax-deferred basis. Under this plan, we may make discretionary contributions to the participants' accounts. We have not made any employer contributions since 2008. | |||||||||||||||||||||||||||||
Stock Incentive Plans | |||||||||||||||||||||||||||||
We have five stock incentive plans, the 1995 Long-Term Stock Incentive Plan (“1995 Plan”), the 1998 Long-Term Stock Incentive Plan (“1998 Plan”), the 2001 Long-Term Stock Incentive Plan (“2001 Plan”), the 2006 Stock Incentive Plan (“2006 Plan”) and the 2011 Stock Incentive Plan (“2011 Plan”). With the adoption of the 2011 Plan, we froze all prior plans, and we have not made any new grants from prior plans. Under the stock incentive plans, at December 31, 2013, we reserved approximately 826,000 shares of our common stock for issuance upon the exercise of outstanding stock options and the vesting of outstanding restricted stock units, including 0 shares under the 1995 Plan, 47,000 shares under the 1998 Plan, 44,000 shares under the 2001 Plan, 142,000 shares under the 2006 Plan and 593,000 shares under the 2011 Plan. At December 31, 2013, a total of 800,000 shares were available for future awards under the 2011 Plan. The Compensation Committee of the Board of Directors administers all of our stock incentive plans. | |||||||||||||||||||||||||||||
The 2011 Plan permits us to issue incentive or non-qualified stock options to purchase shares of common stock, stock appreciation rights, restricted and unrestricted stock awards, performance awards, and cash awards to employees and non-employee directors. | |||||||||||||||||||||||||||||
The components of our pre-tax stock-based compensation expense, net of forfeitures, and associated income tax benefits are as follows (dollars in thousands): | |||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Stock options | $ | 6 | $ | 78 | $ | 71 | |||||||||||||||||||||||
Restricted stock | 1,241 | 1,982 | 1,605 | ||||||||||||||||||||||||||
$ | 1,247 | $ | 2,060 | $ | 1,676 | ||||||||||||||||||||||||
Income tax benefit, before consideration of valuation allowance | $ | 483 | $ | 801 | $ | 650 | |||||||||||||||||||||||
Stock Options | |||||||||||||||||||||||||||||
Our stock incentive plans permit certain employees to receive grants of fixed-price stock options. The option price is equal to the fair value of a share of the underlying stock at the date of grant. Option terms are generally 10 years, with options generally becoming exercisable between one and five years from the date of grant. | |||||||||||||||||||||||||||||
We estimated the fair value of each stock option on the date of the grant using a Black-Scholes option pricing model that used assumptions noted below. We based expected volatility on a blend of implied and historical volatility of our common stock. We used historical data on exercises of stock options and other factors to estimate the expected term of the share-based payments granted. We based the risk-free rate on the U.S. Treasury yield curve in effect at the date of grant. We based the expected life of the options on historical data and it is not necessarily indicative of exercise patterns that may occur. The dividend yield reflected the assumption that the current dividend payout in effect at the time of grant. | |||||||||||||||||||||||||||||
We have not issued any stock options since 2008. | |||||||||||||||||||||||||||||
The following table summarizes the status of options granted under the stock incentive plans: | |||||||||||||||||||||||||||||
Stock Options | Weighted | ||||||||||||||||||||||||||||
Average | |||||||||||||||||||||||||||||
Exercise Price | |||||||||||||||||||||||||||||
Outstanding at January 1, 2011 | 257,716 | $ | 18.01 | ||||||||||||||||||||||||||
Granted | - | - | |||||||||||||||||||||||||||
Exercised | (6,375 | ) | 3.63 | ||||||||||||||||||||||||||
Cancelled/forfeited | (7,629 | ) | 22.43 | ||||||||||||||||||||||||||
Outstanding at December 31, 2011 | 243,712 | 18.25 | |||||||||||||||||||||||||||
Granted | - | - | |||||||||||||||||||||||||||
Exercised | (11,520 | ) | 4.92 | ||||||||||||||||||||||||||
Cancelled/forfeited | (19,584 | ) | 19.11 | ||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 212,608 | 18.89 | |||||||||||||||||||||||||||
Granted | - | - | |||||||||||||||||||||||||||
Exercised | - | - | |||||||||||||||||||||||||||
Cancelled/forfeited | (103,580 | ) | 12.61 | ||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 109,028 | 24.86 | |||||||||||||||||||||||||||
Options exercisable, December 31, 2013 | 109,028 | 24.86 | |||||||||||||||||||||||||||
Options expected to vest, December 31, 2013 | 109,028 | 24.86 | |||||||||||||||||||||||||||
The total intrinsic value (market value on date of exercise, less exercise price) of options exercised during 2012 and 2011 was approximately $30,000 and $24,000, respectively. As of December 31, 2013, outstanding stock options, options vested and expected to vest, and options exercisable had no intrinsic value because the exercise price was greater than the stock price. | |||||||||||||||||||||||||||||
We received approximately $57,000 for 2012 and $24,000 for 2011 in cash from option exercises under all share-based payment arrangements. No options were exercised in 2013. We recognized actual tax expense for the tax deductions from option exercises under all share-based payment arrangements for 2012 and 2011 of approximately $44,000 and $81,000, respectively. U.S. GAAP requires the cash flows resulting from income tax deductions in excess of compensation costs to be classified as financing cash flows. | |||||||||||||||||||||||||||||
At December 31, 2013, all stock options were vested and therefore there was no unrecognized pre-tax compensation cost remaining. | |||||||||||||||||||||||||||||
The following table summarizes information about the stock options granted under the stock incentive plans that were outstanding at December 31, 2013: | |||||||||||||||||||||||||||||
Stock Options Outstanding | Stock Options Exercisable | ||||||||||||||||||||||||||||
Range of exercise prices | Number outstanding as of December 31, 2013 | Weighted-average remaining contractual term | Weighted-average exercise price | Number exercisable as of December 31, 2013 | Weighted-average exercise price | ||||||||||||||||||||||||
$ | 14.28 | $ | 14.28 | 18,381 | 4.18 | $ | 14.28 | 18,381 | $ | 14.28 | |||||||||||||||||||
14.31 | 17.27 | 11,250 | 0.62 | 15.3 | 11,250 | 15.3 | |||||||||||||||||||||||
22.3 | 22.3 | 1,334 | 1.04 | 22.3 | 1,334 | 22.3 | |||||||||||||||||||||||
22.38 | 22.38 | 6,667 | 1.01 | 22.38 | 6,667 | 22.38 | |||||||||||||||||||||||
22.81 | 22.81 | 7,500 | 1.05 | 22.81 | 7,500 | 22.81 | |||||||||||||||||||||||
27.05 | 27.05 | 45,562 | 1.14 | 27.05 | 45,562 | 27.05 | |||||||||||||||||||||||
28.59 | 28.59 | 3,334 | 1.16 | 28.59 | 3,334 | 28.59 | |||||||||||||||||||||||
37.25 | 37.25 | 5,000 | 1.74 | 37.25 | 5,000 | 37.25 | |||||||||||||||||||||||
37.72 | 37.72 | 5,000 | 1.72 | 37.72 | 5,000 | 37.72 | |||||||||||||||||||||||
44.6 | 44.6 | 5,000 | 1.56 | 44.6 | 5,000 | 44.6 | |||||||||||||||||||||||
Cumulative | $ | 14.28 | $ | 44.6 | 109,028 | 1.66 | $ | 24.86 | 109,028 | $ | 24.86 | ||||||||||||||||||
Restricted Stock | |||||||||||||||||||||||||||||
Our stock incentive plans permit certain employees, non-employee directors and independent contractors to be granted restricted share unit awards in common stock. We value awards of restricted share units by reference to shares of common stock. Awards entitle a participant to receive, upon the settlement of the unit, one share of common stock for each unit. The awards vest annually, typically over a three-year period from the date of the award, and do not have voting rights. Our restricted stock unit awards include both time-based awards that vest ratably over three years and restricted stock units that are tied to the achievement of certain financial targets and stock performance criteria and cliff-vest in three years. The financial targets include revenue, operating income and earnings per share measurements. Total stockholder return is considered a market condition, and we calculated the fair value of those awards using a Monte Carlo simulation valuation model. | |||||||||||||||||||||||||||||
We granted 422,783 restricted stock awards to employees and non-employee directors during 2013, of which 177,631 related to performance-based restricted stock units (“PRSUs”). We did not grant any restricted stock awards prior to January 1, 2006. We expense the fair value of the time-based awards at the grant date over the applicable vesting periods. We recognize stock-based compensation associated with all non-market-condition PRSUs, if it is probable that the performance condition will be satisfied. For market-condition PRSUs, we recognize expense whether the market condition is satisfied or not. We recognize the stock-based compensation expense for PRSUs over the requisite service period for each vesting tranche. Actual payment under the PRSUs granted in 2013 were dependent upon achievement of certain financial targets. The financial targets were partially achieved at December 31, 2013. Actual payment under the PRSU’s granted in 2012 were also dependent upon achievement of certain financial targets and total stockholder return goal. The financial targets were not achieved at December 31, 2012. The 2012 total stockholder return goal was a two-year measurement and was not achieved as of the measurement date in February 2014. Actual payment under the PRSUs granted in 2011 was dependent upon achievement of various financial targets and total stockholder return goals. Some of the various financial targets were achieved at December 31, 2011. The total stockholder return goal was not met. | |||||||||||||||||||||||||||||
The following table summarizes the restricted stock award activity for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||
Number of | Weighted | ||||||||||||||||||||||||||||
Share Unit | Average | ||||||||||||||||||||||||||||
Awards | Grant Date | ||||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||||
Outstanding at January 1, 2011 | 453,575 | $ | 7.67 | ||||||||||||||||||||||||||
Granted | 334,485 | 5.73 | |||||||||||||||||||||||||||
Released | (181,599 | ) | 6.51 | ||||||||||||||||||||||||||
Forfeited | (54,487 | ) | 7.44 | ||||||||||||||||||||||||||
Outstanding at December 31, 2011 | 551,974 | 6.9 | |||||||||||||||||||||||||||
Granted | 414,076 | 6.32 | |||||||||||||||||||||||||||
Released | (238,498 | ) | 6.61 | ||||||||||||||||||||||||||
Forfeited | (96,085 | ) | 6.44 | ||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 631,467 | 6.7 | |||||||||||||||||||||||||||
Granted | 422,783 | 2.98 | |||||||||||||||||||||||||||
Released | (275,005 | ) | 7.29 | ||||||||||||||||||||||||||
Forfeited | (73,714 | ) | 5.14 | ||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 705,531 | 4.4 | |||||||||||||||||||||||||||
As of December 31, 2013, there was $892,000 of total unrecognized pre-tax compensation cost related to non-vested restricted stock. We expect this cost to be recognized over a weighted-average period of approximately 1.43 years. The aggregate intrinsic value of RSUs and PRSUs outstanding at December 31, 2013 was $2.8 million. |
Note_9_Restructuring_Charges
Note 9 - Restructuring Charges | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||||||||||||||
9. Restructuring Charges | |||||||||||||||||
2013 Restructuring Plan | |||||||||||||||||
In 2013, we incurred restructuring charges totaling $214,000, comprised primarily of future lease payments and other closing costs related to the moving of our patient communication center and closing of one vision center. | |||||||||||||||||
2012 Restructuring Plan | |||||||||||||||||
In 2012, we announced a restructuring plan to close vision centers, reduce costs and increase operational efficiencies. As a result, we incurred restructuring charges totaling $1.1 million for 2012, which included $327,000 of contract termination costs and vision center closing costs and $803,000 of employee separation benefits. | |||||||||||||||||
2011 Restructuring Plan | |||||||||||||||||
Restructuring charges in 2011 were $36,000, comprised primarily of adjustments to previous estimates for laser contract termination costs for previously closed vision centers and additional severance costs. The restructuring charges in 2011 were principally the result of adjustments to previous estimates for laser contract termination costs for previously closed vision centers, and additional severance costs. | |||||||||||||||||
Under all restructuring plans, the fair value measurements utilized internal discounted cash flow analysis in determining fair value, which is a Level 3 input under U.S. GAAP. | |||||||||||||||||
The following table summarizes the restructuring liability activities (dollars in thousands): | |||||||||||||||||
Employee Separation | Contract | ||||||||||||||||
Termination | |||||||||||||||||
Employees | Dollars | Costs | Total | ||||||||||||||
Balance at January 1, 2011 | $ | 107 | $ | 3,641 | $ | 3,748 | |||||||||||
Liabilities recognized | 2 | 26 | 10 | 36 | |||||||||||||
Utilized | (113 | ) | (1,353 | ) | (1,466 | ) | |||||||||||
Balance at December 31, 2011 | 20 | 2,298 | 2,318 | ||||||||||||||
Liabilities recognized | 14 | 803 | 327 | 1,130 | |||||||||||||
Utilized | (219 | ) | (1,100 | ) | (1,319 | ) | |||||||||||
Balance at December 31, 2012 | 604 | 1,525 | 2,129 | ||||||||||||||
Liabilities recognized | - | (11 | ) | 225 | 214 | ||||||||||||
Utilized | (503 | ) | (1,297 | ) | (1,800 | ) | |||||||||||
Balance at December 31, 2013 | $ | 90 | $ | 453 | $ | 543 | |||||||||||
At December 31, 2013 and 2012, we included current restructuring reserves of $499,000 and $1.8 million, respectively, in “Accrued liabilities and other” in the Consolidated Balance Sheets. Long-term restructuring reserves, comprised of contract termination costs, were $44,000 and $327,000 at December 31, 2013 and 2012, respectively, and were included in “Other long-term liabilities.” |
Note_10_Commitments_and_Contin
Note 10 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
10. Commitments and Contingencies | |
Our business results in a number of medical malpractice lawsuits. Claims reported to us on or prior to December 17, 2002 were generally covered by external insurance policies and to date have not had a material financial impact on our business other than the cost of insurance and our deductibles under those policies. Effective in December 2002, we established a captive insurance company to provide coverage for claims brought against us after December 17, 2002. We use the captive insurance company for both primary insurance and excess liability coverage. A number of claims are now pending with our captive insurance company. Since the inception of the captive insurance company in 2002, total claims and expense payments of approximately $8.1 million have been disbursed. | |
Our actuaries determine our loss reserves based on our historical claim experience, industry experience and recent trends that would impact the ultimate settlement of claims. We believe that the recorded loss reserves are reasonable based on this analysis. However, due to the uncertainties inherent in the determination of these liabilities, the ultimate settlement of claims incurred through December 31, 2013 could differ from the amounts recorded. We record any adjustment to these estimates in the period determined. | |
We maintained insurance reserves of $6.6 million at both December 31, 2013 and 2012, of which $867,000 and $871,000, respectively, have been classified as current within the caption “Accrued liabilities and other” in the Consolidated Balance Sheets. Although our insurance reserve reflects our best estimate of the amount of probable loss, we believe the range of loss that is reasonably possible to have been incurred to be approximately $5.0 million to $13.5 million at December 31, 2013. | |
In addition to the above, we are periodically subject to various other claims and lawsuits. We believe that none of these other claims or lawsuits to which we are currently subject, individually or in the aggregate, will have a material adverse effect on our business, financial condition, results of operations and cash flows. |
Note_11_Additional_Financial_I
Note 11 - Additional Financial Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||
Additional Financial Information Disclosure [Text Block] | ' | ||||||||||||
11. Additional Financial Information | |||||||||||||
The tables below provide additional financial information related to our Consolidated Financial Statements (all dollars in thousands): | |||||||||||||
At December 31, | |||||||||||||
Balance Sheet Information | 2013 | 2012 | |||||||||||
Property and equipment | |||||||||||||
Land | $ | 354 | $ | 354 | |||||||||
Building and improvements | 5,919 | 5,906 | |||||||||||
Leasehold improvements | 14,572 | 14,504 | |||||||||||
Furniture and fixtures | 4,003 | 4,008 | |||||||||||
Equipment | 42,643 | 40,173 | |||||||||||
67,491 | 64,945 | ||||||||||||
Accumulated depreciation | (60,557 | ) | (58,584 | ) | |||||||||
Construction in progress | 103 | 19 | |||||||||||
Net property and equipment | $ | 7,037 | $ | 6,380 | |||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Accrued liabilities and other | |||||||||||||
Accrued enhancement expense - current | $ | 747 | $ | 1,076 | |||||||||
Accrued payroll and related benefits | 1,397 | 1,846 | |||||||||||
Restructuring reserve - current | 499 | 1,802 | |||||||||||
Deferred license fees | 126 | 1,362 | |||||||||||
Marketing accrual | 1,875 | 2,063 | |||||||||||
Miscellaneous and other expenses accrued at year-end | 2,224 | 3,781 | |||||||||||
$ | 6,868 | $ | 11,930 | ||||||||||
For the Years Ended December 31, | |||||||||||||
Income Statement Information | 2013 | 2012 | 2011 | ||||||||||
The components of net investment income and other: | |||||||||||||
Interest income | $ | 1,013 | $ | 964 | $ | 765 | |||||||
Interest expense | (123 | ) | (240 | ) | (378 | ) | |||||||
Other-than-temporary impairment on securities | - | (11 | ) | (10 | ) | ||||||||
Realized gains on investments | - | 3 | 52 | ||||||||||
Realized losses on investments | - | (60 | ) | - | |||||||||
Equity in earnings of unconsolidated affiliates | - | - | 41 | ||||||||||
Net investment income and other | $ | 890 | $ | 656 | $ | 470 | |||||||
Note_12_Merger_Agreement_with_
Note 12 - Merger Agreement with PhotoMedex, Inc. | 12 Months Ended |
Dec. 31, 2013 | |
Business Combinations [Abstract] | ' |
Business Combination Disclosure [Text Block] | ' |
12. Merger Agreement with PhotoMedex, Inc. | |
On February 13, 2014, we entered into an agreement and plan of merger (the “merger agreement”) with PhotoMedex, Inc. (“PhotoMedex”) pursuant to which PhotoMedex will acquire all of our common stock for $5.37 per share in cash, or approximately $106.4 million, resulting in us becoming a wholly owned subsidiary of PhotoMedex (the “merger”). The merger is subject to customary closing conditions including our shareholder approval and regulatory approvals, and is subject to a 30-day “go shop” period. Our board of directors voted unanimously in favor of the transaction, which is expected to close in the second quarter of 2014. There are no assurances that the merger will be consummated. | |
Completion of the merger is subject to several conditions including (i) the adoption of the merger agreement by the affirmative vote or written consent of the holders of at least a majority of the outstanding shares of our common stock at a special meeting to be held later in 2014; (ii) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976; (iii) the clearance by the SEC of a proxy statement of the type contemplated by Rule 14a-2 promulgated under the Securities Exchange Act of 1934 related to the merger and merger agreement, which after clearance must be sent to our stockholders at least 20 days prior to the special meeting of our stockholders; (iv) the absence of a material adverse change in our business or financial condition; and (v) other customary closing conditions. | |
The merger agreement may be terminated by either us or PhotoMedex if the merger has not been consummated by May 14, 2014 (subject to certain extensions) or if a court or other governmental entity of competent jurisdiction issues a final, non-appealable order permanently restraining, enjoining or otherwise prohibiting the merger. In addition, among other things, PhotoMedex may, but is not required to, terminate the merger agreement if we enter into, or publicly proposes to enter into, an agreement relating to our acquisition by a third party or take other specified actions which are inconsistent with supporting the merger. Similarly, we can terminate the merger agreement, subject to certain restrictions, if our board determines that it has received a superior acquisition proposal from a third party. In the event of a termination of the nature described in the two preceding sentences, we would be required to pay PhotoMedex a break-up fee of $3.2 million plus expenses incurred by PhotoMedex (not to exceed $1.0 million). | |
Four putative class action lawsuits challenging the proposed merger with PhotoMedex have been on behalf of all LCA-Vision Inc. stockholders. The lawsuits allege that our directors breached their fiduciary duties to our stockholders by engaging in a flawed process for selling LCA-Vision Inc., by agreeing to sell LCA-Vision Inc. for inadequate consideration pursuant to the merger agreement and that the merger agreement contains improper deal protection terms. In addition, the lawsuits allege that the corporate defendants aided and abetted these breaches of fiduciary duty. The lawsuits seek, among other things, an injunction barring the proposed transaction and seeking attorneys’ fees. We believe that the lawsuits are without merit. | |
We are unable to assess the probable outcome of potential liability, if any, arising from these matters. |
Note_13_Quarterly_Financial_Da
Note 13 - Quarterly Financial Data (unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||||||||||||||||||
13. Quarterly Financial Data (unaudited) | |||||||||||||||||||||||||||||||||
Financial results for interim periods do not necessarily indicate trends for any 12-month period. Quarterly results can be affected by the number of procedures performed and the timing of certain expense items (dollars in thousands, except per share amounts): | |||||||||||||||||||||||||||||||||
2013 Quarters | 2012 Quarters | ||||||||||||||||||||||||||||||||
First | Second | Third | Fourth | First | Second | Third | Fourth | ||||||||||||||||||||||||||
Revenues | $ | 28,304 | $ | 22,609 | $ | 20,656 | $ | 20,616 | $ | 36,138 | $ | 25,152 | $ | 20,009 | $ | 20,194 | |||||||||||||||||
Operating income (loss) | 1,022 | 300 | (2,002 | ) | (1,703 | ) | 3,754 | (3,328 | ) | (3,747 | ) | (5,990 | ) | ||||||||||||||||||||
Income (loss) before income taxes | 1,238 | 535 | (1,777 | ) | (1,489 | ) | 3,870 | (3,166 | ) | (3,527 | ) | (5,832 | ) | ||||||||||||||||||||
Net income (loss) | 1,204 | 463 | (1,560 | ) | (1,475 | ) | 3,846 | (3,190 | ) | (3,549 | ) | (5,624 | ) | ||||||||||||||||||||
Income (loss) per share | |||||||||||||||||||||||||||||||||
Basic and Diluted | $ | 0.07 | $ | 0.02 | $ | (0.08 | ) | $ | (0.08 | ) | $ | 0.2 | $ | (0.17 | ) | $ | (0.19 | ) | $ | (0.29 | ) | ||||||||||||
Schedule_II_Valuation_and_Qual
Schedule II Valuation and Qualifying Accounts and Reserves | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||||||
Schedule II Valuation and Qualifying Accounts and Reserves | |||||||||||||||||
All other financial statement schedules have been omitted because the required information is either inapplicable or presented in the Consolidated Financial Statements. | |||||||||||||||||
Description | Balance at Beginning | Charges to | Deductions | Balance at | |||||||||||||
of Period | Cost and | End of | |||||||||||||||
Expenses | Period | ||||||||||||||||
Year ended December 31, 2013 | |||||||||||||||||
Allowance for doubtful accounts | $ | 1,993 | $ | 416 | $ | 1,267 | $ | 1,142 | |||||||||
Insurance reserves | 6,612 | 434 | 465 | 6,581 | |||||||||||||
Valuation allowance deferred tax assets | 26,377 | 155 | - | 26,532 | |||||||||||||
Year ended December 31, 2012 | |||||||||||||||||
Allowance for doubtful accounts | $ | 1,967 | $ | 914 | $ | 888 | $ | 1,993 | |||||||||
Insurance reserves | 7,215 | 1,097 | 1,700 | 6,612 | |||||||||||||
Valuation allowance deferred tax assets | 23,405 | 2,972 | - | 26,377 | |||||||||||||
Year ended December 31, 2011 | |||||||||||||||||
Allowance for doubtful accounts | $ | 2,010 | $ | 746 | $ | 789 | $ | 1,967 | |||||||||
Insurance reserves | 7,406 | 854 | 1,045 | 7,215 | |||||||||||||
Valuation allowance deferred tax assets | 21,118 | 2,287 | - | 23,405 | |||||||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Business Policy [Policy Text Block] | ' | ||||||||||||
Business | |||||||||||||
We are a provider of fixed-site laser vision correction services at our LasikPlus® vision centers. Our vision centers provide the staff, facilities, equipment and support services for performing laser vision correction that employ advanced laser technologies to help correct nearsightedness, farsightedness and astigmatism. We currently use two suppliers for lasers: Abbott Medical Optics (“AMO”) and Alcon Inc. (“Alcon”). Our vision centers are supported by independent ophthalmologists and credentialed optometrists, as well as other healthcare professionals. The ophthalmologists perform the laser vision correction procedures in our vision centers, and either ophthalmologists or optometrists conduct pre-procedure evaluations and post-operative follow-up care in-center. Most of our patients receive a procedure called LASIK, which we began performing in the United States in 1995. | |||||||||||||
As of December 31, 2013, we operated 61 LasikPlus® vision centers in the United States. Included in that number are five vision centers licensed to ophthalmologists to operate using our trademarks and nine pre- and post-operative satellite centers. Beginning in 2011, we began offering refractive lens and cataract services in certain of our existing markets. Our refractive lens and cataract services were not significant in 2013, and we do not anticipate our refractive lens services will represent a significant portion of our operations in 2014. | |||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||||||
Use of Estimates | |||||||||||||
The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Significant items that are subject to such estimates and assumptions include investment valuation, allowance for doubtful accounts against patient receivables, insurance reserves, income taxes and enhancement accruals. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ significantly from the estimates under different assumptions or conditions. | |||||||||||||
Basis of Accounting, Policy [Policy Text Block] | ' | ||||||||||||
Consolidation and Basis of Presentation | |||||||||||||
The Consolidated Financial Statements include all of the assets, liabilities, revenues, expenses and cash flows of entities in which we have a controlling interest. In addition, we consolidate the results of operations of professional corporations with which we contract to provide the services of ophthalmologists or optometrists at our vision centers. Investments in joint ventures and 20% to 50% owned affiliates where we have the ability to exert significant influence have been accounted for by the equity method. Intercompany transactions and balances have been eliminated upon consolidation. | |||||||||||||
Reclassification, Policy [Policy Text Block] | ' | ||||||||||||
Reclassifications | |||||||||||||
We have reclassified certain prior-period amounts in the Consolidated Balance Sheets and Statements of Cash Flows to conform to current period presentation. The reclassifications were not material to the Consolidated Financial Statements. | |||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
We consider highly liquid investments with an original maturity of 90 days or less when purchased to be cash equivalents. | |||||||||||||
Investment, Policy [Policy Text Block] | ' | ||||||||||||
Investments | |||||||||||||
Management determines the appropriate classification of securities at the time of purchase and reevaluates such designation as of each balance sheet date. Currently, we classify all securities as available-for-sale. We carry available-for-sale securities at fair value, with temporary unrealized gains and losses, net of tax, reported in accumulated other comprehensive income, a component of stockholders’ investment. The amortized cost of debt securities in this category reflects amortization of premiums and accretion of discounts to maturity computed under the effective interest method. We include this amortization in the caption “Net investment income and other” within the Consolidated Statements of Operations and Comprehensive Loss. We also include in net investment income realized gains and losses and declines in value determined to be other-than-temporary. We base the cost of securities sold upon the specific identification method. We include interest and dividends on securities classified as available-for-sale in net investment income. | |||||||||||||
Fair Value Measurement, Policy [Policy Text Block] | ' | ||||||||||||
Fair Value Measurements | |||||||||||||
We apply fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk (including our own non-performance risk). | |||||||||||||
Receivables Trade and Other Accounts Receivable Allowance for Doubtful Accounts Policy [Policy Text Block] | ' | ||||||||||||
Patient Receivables and Allowance for Doubtful Accounts | |||||||||||||
We provide financing to some of our patients, including those who could not otherwise obtain third-party financing. The terms of the financing usually require the patient to pay an up-front fee which is intended to cover some or all of our variable costs, and then generally we deduct the remainder automatically from the patient’s bank account over a period of 12 to 36 months. We have recorded an allowance for doubtful accounts as a best estimate of the amount of probable credit losses from our patient financing program. Each month, we review and adjust the allowance based upon our own experience with patient financing. We charge-off receivables against the allowance for doubtful accounts when it is probable that a receivable will not be recovered. Our policy is to reserve for all patient receivables that remain open past their financial maturity date and to provide reserves for patient receivables prior to the maturity date so as to bring patient receivables, net of reserves, down to the estimated net realizable value based on historical collectability rates, recent default activity and the current credit environment. Bad debt expense was $416,000, or 0.5% of revenues for 2013, $914,000, or 0.9% of revenues for 2012, and $746,000, or 0.7% of revenues, for 2011. We recognized bad debt expense as a component of direct costs of services within the Consolidated Statements of Operations and Comprehensive Loss as we assess collectability at the time services are rendered. During 2013, we wrote off $1.1 million of receivables against the allowance for doubtful accounts and recovered $109,000 in receivables previously written off. During 2012, we wrote off $1.0 million of receivables against the allowance for doubtful accounts and recovered $127,000 in receivables previously written off. | |||||||||||||
For patients whom we internally finance, we charge interest at market rates. Finance and interest charges on patient receivables were $851,000 in 2013, $820,000 in 2012 and $621,000 in 2011. We include these amounts in “Net investment income and other” within the Consolidated Statements of Operations and Comprehensive Loss. | |||||||||||||
At December 31, 2013 we did not deem necessary any allowance for doubtful accounts for our other accounts receivable. We maintained an allowance for doubtful accounts for our other accounts receivable of $340,000 at December 31, 2012. | |||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||||
Property and Equipment, Depreciation and Amortization | |||||||||||||
We record our property and equipment at its original cost, net of accumulated depreciation. At the time that property or equipment is retired, sold, or otherwise disposed of, we deduct the related cost and accumulated depreciation from the amounts reported in the Consolidated Balance Sheets and recognize any gains or losses on disposition in the Consolidated Statements of Operations and Comprehensive Loss. We expense repair and maintenance costs as incurred. We include assets recorded under capitalized leases within property and equipment. | |||||||||||||
We compute depreciation using the straight-line method, which recognizes the cost of the asset over its estimated useful life. We use the following estimated useful lives for computing the annual depreciation expense: | |||||||||||||
Fixed Asset Group | Depreciable | ||||||||||||
Lives (years) | |||||||||||||
Building and building improvements | 5 | - | 39 | ||||||||||
Furniture and fixtures | 3 | - | 7 | ||||||||||
Medical equipment | 3 | - | 5 | ||||||||||
Other equipment | 3 | - | 5 | ||||||||||
We record amortization of leasehold improvements in the Consolidated Statements of Operations and Comprehensive Loss as a component of depreciation expense using the straight-line method based on the lesser of the useful life of the improvement or the lease term, which is typically five years or less. | |||||||||||||
We assess the impairment of property and equipment whenever events or circumstances indicate that the carrying value might not be recoverable. Recoverability of long-lived assets is assessed by comparison of the carrying amount of the asset to the estimated future undiscounted net cash flows expected to be generated by the asset or group of assets. We write down to fair value, which is generally determined from estimated discounted cash flows for assets held for use, recorded values of property and equipment that we do not expect to recover through undiscounted future net cash flows. During 2013 we did not recognize any fixed asset impairment charges. During 2012, we recognized fixed asset impairment charges of $617,000 primarily as a result of our decision to close under-performing vision centers and relocate our patient communication center to our corporate headquarters. The closures of the vision centers do not qualify for classification as a discontinued operation due to continuing cash flows. | |||||||||||||
Enhancement Reserve [Policy Text Block] | ' | ||||||||||||
Accrued Enhancement Expense | |||||||||||||
We include participation in our LasikPlus Advantage Plan® (acuity program) in the base surgical price for substantially all of our patients. Under the acuity program, if determined to be medically appropriate, we provide post-surgical enhancements free of charge should the patient not achieve the desired visual correction during the initial procedure. Under this pricing structure, we account for the acuity program as a warranty obligation. Accordingly, we accrue the costs expected to be incurred to satisfy the obligation as a liability and direct cost of service at the point of sale given our ability to estimate reasonably such costs based on historical trends and the satisfaction of all other revenue recognition criteria. | |||||||||||||
We record a post-surgical enhancement accrual based on our best estimate of the number and associated cost of the procedures to be performed. Each month, we review the enhancement accrual and consider factors such as procedure cost and historical procedure volume when determining the appropriateness of the recorded balance. As of December 31, 2013 and 2012, we maintained an enhancement accrual of $2.0 million and $2.8 million, respectively. We record the long-term portion of the enhancement accrual of $1.3 million and $1.8 million as of December 31, 2013 and 2012, respectively, as a component of “Other long-term liabilities” on the Consolidated Balance Sheets. | |||||||||||||
Captive Insurance Reserves [Policy Text Block] | ' | ||||||||||||
Insurance Reserves | |||||||||||||
We maintain a captive insurance company to provide professional liability insurance coverage for claims brought against us and our optometrists after December 17, 2002. In addition, our captive insurance company’s charter allows it to provide professional liability insurance for our ophthalmologists, none of whom are currently insured by the captive. We use the captive insurance company for both primary insurance and excess liability coverage. A number of claims are now pending with our captive insurance company. We consolidate the financial statements of the captive insurance company with our financial statements because it is a wholly-owned enterprise. As of December 31, 2013 and 2012, we maintained insurance reserves of $6.6 million, which represented an actuarially determined estimate of future costs associated with claims filed as well as claims incurred but not yet reported. We recorded $867,000 and $871,000 of the total insurance reserve as a current liability in “Accrued liabilities and other” at December 31, 2013 and 2012, respectively. Our actuaries determine loss reserves by comparing our historical claim experience to comparable insurance industry experience. Since the inception of the captive insurance company in 2002, it has disbursed total claims and legal expenses of approximately $8.1 million. | |||||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||||
Income Taxes | |||||||||||||
We are subject to income taxes in the United States and Canada. Significant judgment is required in determining our provision for income taxes and the related assets and liabilities. The provision for income taxes includes income taxes paid, currently payable or receivable, and those deferred. We determine deferred tax assets and liabilities based on differences between the financial reporting and tax basis of assets and liabilities, and we measure them using enacted tax rates and laws that are expected to be in effect when the differences reverse. We recognize the effect on deferred taxes of changes in tax rates in the period in which the enactment date changes. We establish valuation allowances when necessary on a jurisdictional basis to reduce deferred tax assets to the amounts expected to be realized. | |||||||||||||
In the ordinary course of business, there are certain transactions and calculations where the ultimate tax determination is uncertain. The evaluation of a tax position in accordance with U.S. GAAP is a two-step process. The first step is a recognition process to determine whether it is more-likely-than-not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The second step is a measurement process whereby a tax position that meets the more-likely-than-not recognition threshold is assessed to determine the cost or benefit to be recognized in the financial statements. | |||||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||||
Per Share Data | |||||||||||||
Basic per share data is income applicable to common shares divided by the weighted average common shares outstanding. Diluted per share data is income applicable to common shares divided by the weighted average common shares outstanding plus shares issuable upon the vesting of outstanding restricted stock units and the exercise of in-the-money stock options. | |||||||||||||
The following is a reconciliation of basic and diluted loss per share (in thousands, except per share data). | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Basic Loss | |||||||||||||
Net loss | $ | (1,368 | ) | $ | (8,517 | ) | $ | (6,198 | ) | ||||
Weighted average common shares outstanding | 19,199 | 18,982 | 18,811 | ||||||||||
Basic loss per share | $ | (0.07 | ) | $ | (0.45 | ) | $ | (0.33 | ) | ||||
Diluted Loss | |||||||||||||
Net loss | $ | (1,368 | ) | $ | (8,517 | ) | $ | (6,198 | ) | ||||
Weighted average common shares outstanding | 19,199 | 18,982 | 18,811 | ||||||||||
Effect of dilutive securities | |||||||||||||
Stock options | - | - | - | ||||||||||
Restricted stock | - | - | - | ||||||||||
Weighted average common shares outstanding and potential dilutive shares | 19,199 | 18,982 | 18,811 | ||||||||||
Diluted loss per share | $ | (0.07 | ) | $ | (0.45 | ) | $ | (0.33 | ) | ||||
For 2013, 2012 and 2011, we excluded all outstanding stock options and restricted stock awards from the computation of our diluted earnings per share because the effect of these share-based awards was antidilutive due to our net losses. | |||||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||||||
Revenue Recognition | |||||||||||||
We recognize revenues as services are performed and persuasive evidence of an arrangement for payment exists. Additionally, we recognize revenue when the price is fixed and determinable and collectability is reasonably assured. We deferred revenues associated with separately priced acuity programs and recognize it over the period in which future costs of performing the post-surgical enhancement procedures are expected to be incurred as we have sufficient experience to support that costs associated with future enhancements will be incurred on other than a straight-line basis. We report all revenues net of tax assessed by applicable governmental authorities. | |||||||||||||
Advertising And Marketing Expenses Policy [Policy Text Block] | ' | ||||||||||||
Marketing and Advertising Expenditures | |||||||||||||
We expense marketing and advertising costs as incurred, except for the costs associated with direct mail. Direct mail costs include printing mailers for future use, purchasing mailing lists of potential patients and postage cost. We expense printing and postage costs as the items are mailed. | |||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
We account for stock-based payment transactions in which we receive employee services in exchange for (a) our stock or (b) liabilities that are based on the fair value of our stock or that may be settled by the issuance of our stock. Stock-based compensation cost for restricted stock units (“RSUs”) is measured based on the closing fair market value of our common stock on the date of grant. Stock-based compensation cost for stock options is estimated at the grant date based on each option’s fair-value as calculated by the Black-Scholes option-pricing model. We recognize stock-based compensation cost as expense for these awards ratably on a straight-line basis over the requisite service period. We also grant awards that are tied to the achievement of certain financial targets and stock-performance criteria. These awards are granted annually and cover a three-year performance cycle. Performance measures used to determine the actual number of shares issuable upon vesting include a weighting of revenue, operating income, and earnings per share targets and our total shareholder return (“TSR”) performance. TSR is considered a market condition but the revenue, operating income, and earnings per share targets are considered a performance condition under applicable U.S. GAAP. The fair value of these portions of the performance share awards is equal to the fair market value of our common stock on the date of the grant. We recognize compensation cost over the requisite service period if it is probable that the performance condition will be satisfied. We calculate the fair value of the TSR portion of the performance share awards using a Monte Carlo simulation valuation model. Compensation cost is recognized over the requisite service period regardless of whether the market condition is satisfied. We will recognize a benefit from stock-based compensation in equity if an incremental tax benefit is realized by following the ordering provisions of the tax law. Further information regarding stock-based compensation can be found in Note 9, “Employee Benefits.” | |||||||||||||
Segment And Geographic Information [Policy Text Block] | ' | ||||||||||||
Geographic Information | |||||||||||||
We have no operations or assets in any countries other than the U.S. and Canada. No single customer represented more than 10% of revenues in 2013, 2012, or 2011. Information about our domestic and international operations is as follows (dollars in thousands): | |||||||||||||
Subsequent Events, Policy [Policy Text Block] | ' | ||||||||||||
Subsequent Events | |||||||||||||
We evaluated all events or transactions that occurred after December 31, 2013 through the date we issued these Consolidated Financial Statements. |
Note_1_Description_of_Business1
Note 1 - Description of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||||||||||||||||||||||
Fixed Asset Group | Depreciable | ||||||||||||||||||||||||||||
Lives (years) | |||||||||||||||||||||||||||||
Building and building improvements | 5 | - | 39 | ||||||||||||||||||||||||||
Furniture and fixtures | 3 | - | 7 | ||||||||||||||||||||||||||
Medical equipment | 3 | - | 5 | ||||||||||||||||||||||||||
Other equipment | 3 | - | 5 | ||||||||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Basic Loss | |||||||||||||||||||||||||||||
Net loss | $ | (1,368 | ) | $ | (8,517 | ) | $ | (6,198 | ) | ||||||||||||||||||||
Weighted average common shares outstanding | 19,199 | 18,982 | 18,811 | ||||||||||||||||||||||||||
Basic loss per share | $ | (0.07 | ) | $ | (0.45 | ) | $ | (0.33 | ) | ||||||||||||||||||||
Diluted Loss | |||||||||||||||||||||||||||||
Net loss | $ | (1,368 | ) | $ | (8,517 | ) | $ | (6,198 | ) | ||||||||||||||||||||
Weighted average common shares outstanding | 19,199 | 18,982 | 18,811 | ||||||||||||||||||||||||||
Effect of dilutive securities | |||||||||||||||||||||||||||||
Stock options | - | - | - | ||||||||||||||||||||||||||
Restricted stock | - | - | - | ||||||||||||||||||||||||||
Weighted average common shares outstanding and potential dilutive shares | 19,199 | 18,982 | 18,811 | ||||||||||||||||||||||||||
Diluted loss per share | $ | (0.07 | ) | $ | (0.45 | ) | $ | (0.33 | ) | ||||||||||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | ' | ||||||||||||||||||||||||||||
Revenues from External Customers | Net Assets | Property and Equipment | |||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
United States | $ | 92,185 | $ | 101,493 | $ | 102,983 | $ | 14,749 | $ | 15,143 | $ | 7,037 | $ | 6,380 | |||||||||||||||
Canada | - | - | - | 4,382 | 4,654 | - | - | ||||||||||||||||||||||
$ | 92,185 | $ | 101,493 | $ | 102,983 | $ | 19,131 | $ | 19,797 | $ | 7,037 | $ | 6,380 |
Note_3_Investments_Tables
Note 3 - Investments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||
As of December 31, 2013 | |||||||||||||||||
Adjusted | Gross | Gross | Fair Value | ||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Gains | Losses | ||||||||||||||||
Certificates of deposit | $ | 1,984 | $ | - | $ | - | $ | 1,984 | |||||||||
Total investments | $ | 1,984 | $ | - | $ | - | $ | 1,984 | |||||||||
As of December 31, 2012 | |||||||||||||||||
Adjusted | Gross | Gross | Fair Value | ||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Gains | Losses | ||||||||||||||||
Certificates of deposit | $ | 2,804 | $ | - | $ | - | $ | 2,804 | |||||||||
Total investments | $ | 2,804 | $ | - | $ | - | $ | 2,804 | |||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||
Amortized | Estimated | ||||||||||||||||
Cost | Fair Value | ||||||||||||||||
Due in one year or less | $ | - | $ | - | |||||||||||||
Due after one year through three years | 1,984 | 1,984 | |||||||||||||||
Due after three years | - | - | |||||||||||||||
Total investment securities | $ | 1,984 | $ | 1,984 |
Note_4_Debt_Tables
Note 4 - Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Third party debt | $ | 1,857 | $ | - | |||||
Debt obligations maturing within one year | (777 | ) | - | ||||||
Long-term obligations (less current portion) | $ | 1,080 | $ | - |
Note_5_Fair_Value_Measurements1
Note 5 - Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Investments | $ | - | $ | - | $ | 1,984 | $ | 2,804 | $ | - | $ | - | $ | 1,984 | $ | 2,804 | |||||||||||||||||
Total assets at fair value | $ | - | $ | - | $ | 1,984 | $ | 2,804 | $ | - | $ | - | $ | 1,984 | $ | 2,804 | |||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||||
Description | 2013 | 2012 | |||||||||||||||||||||||||||||||
Balance as of January 1 | $ | - | $ | 902 | |||||||||||||||||||||||||||||
Assets acquired | - | - | |||||||||||||||||||||||||||||||
Assets sold or redeemed | - | (822 | ) | ||||||||||||||||||||||||||||||
Transfers out of Level 3 | - | - | |||||||||||||||||||||||||||||||
Losses included in earnings | - | (71 | ) | ||||||||||||||||||||||||||||||
Losses included in other comprehensive loss | - | (9 | ) | ||||||||||||||||||||||||||||||
Balance as of December 31 | $ | - | $ | - |
Note_6_Income_Taxes_Tables
Note 6 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current tax (benefit) expense: | |||||||||||||
Federal | $ | (186 | ) | $ | (77 | ) | $ | 26 | |||||
U.S. State and local | 61 | (61 | ) | 104 | |||||||||
Total current | (125 | ) | (138 | ) | 130 | ||||||||
Deferred tax (benefit) expense: | |||||||||||||
Federal | $ | - | $ | - | $ | - | |||||||
U.S. State and local | - | - | - | ||||||||||
Total deferred | - | - | - | ||||||||||
Total income tax (benefit) expense | $ | (125 | ) | $ | (138 | ) | $ | 130 | |||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States | $ | (1,535 | ) | $ | (8,706 | ) | $ | (6,092 | ) | ||||
Canada | 42 | 51 | 24 | ||||||||||
Total | $ | (1,493 | ) | $ | (8,655 | ) | $ | (6,068 | ) | ||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Tax at statutory U.S. federal income tax rate of 35% | $ | (523 | ) | $ | (3,029 | ) | $ | (2,124 | ) | ||||
State and local income taxes, net of federal benefit | 45 | (293 | ) | (148 | ) | ||||||||
Permanent differences | (26 | ) | 33 | 171 | |||||||||
Resolution and reevaluation of tax positions | (204 | ) | (102 | ) | 75 | ||||||||
Other | 428 | 281 | (131 | ) | |||||||||
Valuation allowance | 155 | 2,972 | 2,287 | ||||||||||
Income tax (benefit) expense | $ | (125 | ) | $ | (138 | ) | $ | 130 | |||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Deferred revenue | $ | 31 | $ | 336 | |||||||||
Allowance for doubtful accounts | 444 | 775 | |||||||||||
Accrued enhancement expense | 788 | 1,101 | |||||||||||
Insurance reserves | 1,143 | 1,159 | |||||||||||
Deferred lease credits | 215 | 319 | |||||||||||
Share-based compensation | 502 | 986 | |||||||||||
Vendor rebates | 49 | 662 | |||||||||||
Property and equipment | 3,238 | 1,549 | |||||||||||
Net operating and capital loss carryforward | 20,449 | 17,563 | |||||||||||
Other | 403 | 2,596 | |||||||||||
Valuation allowance | (26,532 | ) | (26,377 | ) | |||||||||
Total deferred tax assets | $ | 730 | $ | 669 | |||||||||
Deferred tax liabilities: | |||||||||||||
Deferred lease incentives | $ | 648 | $ | 566 | |||||||||
Prepaid service | 82 | 103 | |||||||||||
Total deferred tax liabilities | $ | 730 | $ | 669 | |||||||||
Net deferred tax assets | $ | - | $ | - | |||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||||||
2013 | 2012 | ||||||||||||
Balance, beginning of year | $ | 508 | $ | 614 | |||||||||
Additions based on tax positions related to the current year | 57 | 52 | |||||||||||
Additions for tax positions of prior years | 12 | 1 | |||||||||||
Reductions due to statute expiration | (273 | ) | (155 | ) | |||||||||
Settlements | - | (4 | ) | ||||||||||
Balance, end of year | $ | 304 | $ | 508 |
Note_7_Leasing_Arrangements_Ta
Note 7 - Leasing Arrangements (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||
Year | Operating | ||||
Lease | |||||
Obligations | |||||
2014 | $ | 6,463 | |||
2015 | 5,463 | ||||
2016 | 4,856 | ||||
2017 | 3,838 | ||||
2018 | 1,826 | ||||
Beyond 2018 | 1,019 | ||||
Total minimum rental commitment | $ | 23,465 |
Note_8_Employee_Benefits_Table
Note 8 - Employee Benefits (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | ||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Stock options | $ | 6 | $ | 78 | $ | 71 | |||||||||||||||||||||||
Restricted stock | 1,241 | 1,982 | 1,605 | ||||||||||||||||||||||||||
$ | 1,247 | $ | 2,060 | $ | 1,676 | ||||||||||||||||||||||||
Income tax benefit, before consideration of valuation allowance | $ | 483 | $ | 801 | $ | 650 | |||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||||||||||||
Stock Options | Weighted | ||||||||||||||||||||||||||||
Average | |||||||||||||||||||||||||||||
Exercise Price | |||||||||||||||||||||||||||||
Outstanding at January 1, 2011 | 257,716 | $ | 18.01 | ||||||||||||||||||||||||||
Granted | - | - | |||||||||||||||||||||||||||
Exercised | (6,375 | ) | 3.63 | ||||||||||||||||||||||||||
Cancelled/forfeited | (7,629 | ) | 22.43 | ||||||||||||||||||||||||||
Outstanding at December 31, 2011 | 243,712 | 18.25 | |||||||||||||||||||||||||||
Granted | - | - | |||||||||||||||||||||||||||
Exercised | (11,520 | ) | 4.92 | ||||||||||||||||||||||||||
Cancelled/forfeited | (19,584 | ) | 19.11 | ||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 212,608 | 18.89 | |||||||||||||||||||||||||||
Granted | - | - | |||||||||||||||||||||||||||
Exercised | - | - | |||||||||||||||||||||||||||
Cancelled/forfeited | (103,580 | ) | 12.61 | ||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 109,028 | 24.86 | |||||||||||||||||||||||||||
Options exercisable, December 31, 2013 | 109,028 | 24.86 | |||||||||||||||||||||||||||
Options expected to vest, December 31, 2013 | 109,028 | 24.86 | |||||||||||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||||||||||||||||
Stock Options Outstanding | Stock Options Exercisable | ||||||||||||||||||||||||||||
Range of exercise prices | Number outstanding as of December 31, 2013 | Weighted-average remaining contractual term | Weighted-average exercise price | Number exercisable as of December 31, 2013 | Weighted-average exercise price | ||||||||||||||||||||||||
$ | 14.28 | $ | 14.28 | 18,381 | 4.18 | $ | 14.28 | 18,381 | $ | 14.28 | |||||||||||||||||||
14.31 | 17.27 | 11,250 | 0.62 | 15.3 | 11,250 | 15.3 | |||||||||||||||||||||||
22.3 | 22.3 | 1,334 | 1.04 | 22.3 | 1,334 | 22.3 | |||||||||||||||||||||||
22.38 | 22.38 | 6,667 | 1.01 | 22.38 | 6,667 | 22.38 | |||||||||||||||||||||||
22.81 | 22.81 | 7,500 | 1.05 | 22.81 | 7,500 | 22.81 | |||||||||||||||||||||||
27.05 | 27.05 | 45,562 | 1.14 | 27.05 | 45,562 | 27.05 | |||||||||||||||||||||||
28.59 | 28.59 | 3,334 | 1.16 | 28.59 | 3,334 | 28.59 | |||||||||||||||||||||||
37.25 | 37.25 | 5,000 | 1.74 | 37.25 | 5,000 | 37.25 | |||||||||||||||||||||||
37.72 | 37.72 | 5,000 | 1.72 | 37.72 | 5,000 | 37.72 | |||||||||||||||||||||||
44.6 | 44.6 | 5,000 | 1.56 | 44.6 | 5,000 | 44.6 | |||||||||||||||||||||||
Cumulative | $ | 14.28 | $ | 44.6 | 109,028 | 1.66 | $ | 24.86 | 109,028 | $ | 24.86 | ||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||||||||||||||||||||||||
Number of | Weighted | ||||||||||||||||||||||||||||
Share Unit | Average | ||||||||||||||||||||||||||||
Awards | Grant Date | ||||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||||
Outstanding at January 1, 2011 | 453,575 | $ | 7.67 | ||||||||||||||||||||||||||
Granted | 334,485 | 5.73 | |||||||||||||||||||||||||||
Released | (181,599 | ) | 6.51 | ||||||||||||||||||||||||||
Forfeited | (54,487 | ) | 7.44 | ||||||||||||||||||||||||||
Outstanding at December 31, 2011 | 551,974 | 6.9 | |||||||||||||||||||||||||||
Granted | 414,076 | 6.32 | |||||||||||||||||||||||||||
Released | (238,498 | ) | 6.61 | ||||||||||||||||||||||||||
Forfeited | (96,085 | ) | 6.44 | ||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 631,467 | 6.7 | |||||||||||||||||||||||||||
Granted | 422,783 | 2.98 | |||||||||||||||||||||||||||
Released | (275,005 | ) | 7.29 | ||||||||||||||||||||||||||
Forfeited | (73,714 | ) | 5.14 | ||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 705,531 | 4.4 |
Note_9_Restructuring_Charges_T
Note 9 - Restructuring Charges (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring and Related Costs [Table Text Block] | ' | ||||||||||||||||
Employee Separation | Contract | ||||||||||||||||
Termination | |||||||||||||||||
Employees | Dollars | Costs | Total | ||||||||||||||
Balance at January 1, 2011 | $ | 107 | $ | 3,641 | $ | 3,748 | |||||||||||
Liabilities recognized | 2 | 26 | 10 | 36 | |||||||||||||
Utilized | (113 | ) | (1,353 | ) | (1,466 | ) | |||||||||||
Balance at December 31, 2011 | 20 | 2,298 | 2,318 | ||||||||||||||
Liabilities recognized | 14 | 803 | 327 | 1,130 | |||||||||||||
Utilized | (219 | ) | (1,100 | ) | (1,319 | ) | |||||||||||
Balance at December 31, 2012 | 604 | 1,525 | 2,129 | ||||||||||||||
Liabilities recognized | - | (11 | ) | 225 | 214 | ||||||||||||
Utilized | (503 | ) | (1,297 | ) | (1,800 | ) | |||||||||||
Balance at December 31, 2013 | $ | 90 | $ | 453 | $ | 543 |
Note_11_Additional_Financial_I1
Note 11 - Additional Financial Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||||||
At December 31, | |||||||||||||
Balance Sheet Information | 2013 | 2012 | |||||||||||
Property and equipment | |||||||||||||
Land | $ | 354 | $ | 354 | |||||||||
Building and improvements | 5,919 | 5,906 | |||||||||||
Leasehold improvements | 14,572 | 14,504 | |||||||||||
Furniture and fixtures | 4,003 | 4,008 | |||||||||||
Equipment | 42,643 | 40,173 | |||||||||||
67,491 | 64,945 | ||||||||||||
Accumulated depreciation | (60,557 | ) | (58,584 | ) | |||||||||
Construction in progress | 103 | 19 | |||||||||||
Net property and equipment | $ | 7,037 | $ | 6,380 | |||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Accrued liabilities and other | |||||||||||||
Accrued enhancement expense - current | $ | 747 | $ | 1,076 | |||||||||
Accrued payroll and related benefits | 1,397 | 1,846 | |||||||||||
Restructuring reserve - current | 499 | 1,802 | |||||||||||
Deferred license fees | 126 | 1,362 | |||||||||||
Marketing accrual | 1,875 | 2,063 | |||||||||||
Miscellaneous and other expenses accrued at year-end | 2,224 | 3,781 | |||||||||||
$ | 6,868 | $ | 11,930 | ||||||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||||||
For the Years Ended December 31, | |||||||||||||
Income Statement Information | 2013 | 2012 | 2011 | ||||||||||
The components of net investment income and other: | |||||||||||||
Interest income | $ | 1,013 | $ | 964 | $ | 765 | |||||||
Interest expense | (123 | ) | (240 | ) | (378 | ) | |||||||
Other-than-temporary impairment on securities | - | (11 | ) | (10 | ) | ||||||||
Realized gains on investments | - | 3 | 52 | ||||||||||
Realized losses on investments | - | (60 | ) | - | |||||||||
Equity in earnings of unconsolidated affiliates | - | - | 41 | ||||||||||
Net investment income and other | $ | 890 | $ | 656 | $ | 470 |
Note_13_Quarterly_Financial_Da1
Note 13 - Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
2013 Quarters | 2012 Quarters | ||||||||||||||||||||||||||||||||
First | Second | Third | Fourth | First | Second | Third | Fourth | ||||||||||||||||||||||||||
Revenues | $ | 28,304 | $ | 22,609 | $ | 20,656 | $ | 20,616 | $ | 36,138 | $ | 25,152 | $ | 20,009 | $ | 20,194 | |||||||||||||||||
Operating income (loss) | 1,022 | 300 | (2,002 | ) | (1,703 | ) | 3,754 | (3,328 | ) | (3,747 | ) | (5,990 | ) | ||||||||||||||||||||
Income (loss) before income taxes | 1,238 | 535 | (1,777 | ) | (1,489 | ) | 3,870 | (3,166 | ) | (3,527 | ) | (5,832 | ) | ||||||||||||||||||||
Net income (loss) | 1,204 | 463 | (1,560 | ) | (1,475 | ) | 3,846 | (3,190 | ) | (3,549 | ) | (5,624 | ) | ||||||||||||||||||||
Income (loss) per share | |||||||||||||||||||||||||||||||||
Basic and Diluted | $ | 0.07 | $ | 0.02 | $ | (0.08 | ) | $ | (0.08 | ) | $ | 0.2 | $ | (0.17 | ) | $ | (0.19 | ) | $ | (0.29 | ) |
Schedule_II_Valuation_and_Qual1
Schedule II Valuation and Qualifying Accounts and Reserves (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Summary of Valuation Allowance [Table Text Block] | ' | ||||||||||||||||
Description | Balance at Beginning | Charges to | Deductions | Balance at | |||||||||||||
of Period | Cost and | End of | |||||||||||||||
Expenses | Period | ||||||||||||||||
Year ended December 31, 2013 | |||||||||||||||||
Allowance for doubtful accounts | $ | 1,993 | $ | 416 | $ | 1,267 | $ | 1,142 | |||||||||
Insurance reserves | 6,612 | 434 | 465 | 6,581 | |||||||||||||
Valuation allowance deferred tax assets | 26,377 | 155 | - | 26,532 | |||||||||||||
Year ended December 31, 2012 | |||||||||||||||||
Allowance for doubtful accounts | $ | 1,967 | $ | 914 | $ | 888 | $ | 1,993 | |||||||||
Insurance reserves | 7,215 | 1,097 | 1,700 | 6,612 | |||||||||||||
Valuation allowance deferred tax assets | 23,405 | 2,972 | - | 26,377 | |||||||||||||
Year ended December 31, 2011 | |||||||||||||||||
Allowance for doubtful accounts | $ | 2,010 | $ | 746 | $ | 789 | $ | 1,967 | |||||||||
Insurance reserves | 7,406 | 854 | 1,045 | 7,215 | |||||||||||||
Valuation allowance deferred tax assets | 21,118 | 2,287 | - | 23,405 |
Note_1_Description_of_Business2
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number Of Vision Correction Centers Operated | 61 | ' | ' |
Number of Pre- and Post-Operative Satellite Centers | 9 | ' | ' |
Provision for Doubtful Accounts | $416,000 | $914,000 | $746,000 |
Allowance for Doubtful Accounts Receivable, Write-offs | 1,100,000 | 1,000,000 | ' |
Allowance for Doubtful Accounts Receivable, Recoveries | 109,000 | 127,000 | ' |
Interest IncomeOn Accounts Receivable | 851,000 | 820,000 | 621,000 |
Impairment of Long-Lived Assets Held-for-use | ' | 617,000 | ' |
Accrued Enhancement Expense | 2,000,000 | 2,800,000 | ' |
Accrued Enhancement Expense Non Current | 1,300,000 | 1,800,000 | ' |
Self Insurance Reserve | 6,600,000 | 6,600,000 | ' |
Self Insurance Reserve, Current | 867,000 | 871,000 | ' |
Claims Paid | 8,100,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' |
Patient Receivable [Member] | ' | ' | ' |
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Provision for Doubtful Accounts | 416,000 | 914,000 | 746,000 |
Allowance For Doubtful Accounts Percentage Of Accounts Receivable | 0.50% | 0.90% | 0.70% |
Leasehold Improvements [Member] | Maximum [Member] | ' | ' | ' |
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '5 years | ' | ' |
Other Accounts Receivable [Member] | ' | ' | ' |
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Allowance for Doubtful Accounts Receivable | ' | 340,000 | ' |
Accrued Liabilities and Other [Member] | ' | ' | ' |
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Self Insurance Reserve, Current | $867,000 | $871,000 | ' |
Minimum [Member] | ' | ' | ' |
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Period Over Which Patient Receivables Are Recovered | '12 months | ' | ' |
Maximum [Member] | ' | ' | ' |
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Period Over Which Patient Receivables Are Recovered | '36 months | ' | ' |
Note_1_Description_of_Business3
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) - Estimated Useful Lives For Computing Depreciation Expense | 12 Months Ended |
Dec. 31, 2013 | |
Building and Building Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of asset | '5 years |
Building and Building Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of asset | '39 years |
Furniture and Fixtures [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of asset | '3 years |
Furniture and Fixtures [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of asset | '7 years |
Medical Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of asset | '3 years |
Medical Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of asset | '5 years |
Other Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of asset | '3 years |
Other Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of asset | '5 years |
Note_1_Description_of_Business4
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) - Reconciliation of Basic and Diluted Loss per Share (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) - Reconciliation of Basic and Diluted Loss per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss (in Dollars) | ($1,475) | ($1,560) | $463 | $1,204 | ($5,624) | ($3,549) | ($3,190) | $3,846 | ($1,368) | ($8,517) | ($6,198) |
Weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 19,199 | 18,982 | 18,811 |
Basic loss per share (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ($0.07) | ($0.45) | ($0.33) |
Weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 19,199 | 18,982 | 18,811 |
Effect of dilutive securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding and potential dilutive shares | ' | ' | ' | ' | ' | ' | ' | ' | 19,199 | 18,982 | 18,811 |
Diluted loss per share (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ($0.07) | ($0.45) | ($0.33) |
Equity Option [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect of dilutive securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect of dilutive securities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Restricted Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect of dilutive securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect of dilutive securities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Note_1_Description_of_Business5
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details) - Domestic and International Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers | $20,616 | $20,656 | $22,609 | $28,304 | $20,194 | $20,009 | $25,152 | $36,138 | $92,185 | $101,493 | $102,983 |
Net Assets | 19,131 | ' | ' | ' | 19,797 | ' | ' | ' | 19,131 | 19,797 | ' |
Property and Equipment | 7,037 | ' | ' | ' | 6,380 | ' | ' | ' | 7,037 | 6,380 | ' |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 92,185 | 101,493 | 102,983 |
Net Assets | 14,749 | ' | ' | ' | 15,143 | ' | ' | ' | 14,749 | 15,143 | ' |
Property and Equipment | 7,037 | ' | ' | ' | 6,380 | ' | ' | ' | 7,037 | 6,380 | ' |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Assets | $4,382 | ' | ' | ' | $4,654 | ' | ' | ' | $4,382 | $4,654 | ' |
Note_2_Stockholders_Investment1
Note 2 - Stockholders' Investment (Details) (USD $) | 1 Months Ended | 16 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Aug. 21, 2007 | Dec. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2012 |
Stockholders' Equity Note [Abstract] | ' | ' | ' | ' |
Common Stock, Shares Authorized | ' | ' | 27,500,000 | ' |
Common Stock, Par or Stated Value Per Share (in Dollars per share) | ' | ' | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | ' | ' | 5,000,000 | ' |
Stock Repurchase Program, Authorized Amount (in Dollars) | $50 | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | 588,408 | ' | ' |
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share) | ' | $16.99 | ' | ' |
Treasury Stock, Value, Acquired, Cost Method (in Dollars) | ' | $10 | ' | ' |
Treasury Stock, Number of Shares Held | ' | ' | 6,000,000 | ' |
Note_3_Investments_Details
Note 3 - Investments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 0 | 0 | ' |
Available-for-sale Securities, Gross Realized Gains | $0 | $3,000 | $52,000 |
Available-for-sale Securities, Gross Realized Losses | $0 | $60,000 | $0 |
Note_3_Investments_Details_Unr
Note 3 - Investments (Details) - Unrealized Gains and Losses on Available For Sale (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | $1,984 | $2,804 |
Fair Value | 1,984 | 2,804 |
Certificates of Deposit [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 1,984 | 2,804 |
Fair Value | $1,984 | $2,804 |
Note_3_Investments_Details_Net
Note 3 - Investments (Details) - Net Carrying Value and Estimated Fair Value of Debt and Equity Securities Available for Sale (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Net Carrying Value and Estimated Fair Value of Debt and Equity Securities Available for Sale [Abstract] | ' |
Due in one year or less | $0 |
Due in one year or less | 0 |
Due after one year through three years | 1,984 |
Due after one year through three years | 1,984 |
Due after three years | 0 |
Due after three years | 0 |
Total investment securities | 1,984 |
Total investment securities | $1,984 |
Note_4_Debt_Details
Note 4 - Debt (Details) (USD $) | 1 Months Ended | 4 Months Ended | 12 Months Ended |
Apr. 30, 2013 | Apr. 30, 2013 | Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ' | ' | ' |
Property, Plant and Equipment, Additions | $2,300,000 | ' | ' |
Debt Instrument, Term | ' | '36 years | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 3.50% | ' |
Long-term Debt, Fair Value | ' | ' | 1,800,000 |
Long-term Debt, Gross | ' | ' | 2,300,000 |
Repayments of Long-term Debt | ' | ' | $491,000 |
Note_4_Debt_Details_LongTerm_D
Note 4 - Debt (Details) - Long-Term Debt (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Long-Term Debt [Abstract] | ' |
Third party debt | $1,857 |
Debt obligations maturing within one year | -777 |
Long-term obligations (less current portion) | $1,080 |
Note_5_Fair_Value_Measurements2
Note 5 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on Recurring Basis (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Investments | $1,984 | $2,804 |
Total assets at fair value | 1,984 | 2,804 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Investments | 1,984 | 2,804 |
Total assets at fair value | $1,984 | $2,804 |
Note_5_Fair_Value_Measurements3
Note 5 - Fair Value Measurements (Details) - Reconciliation of Assets Measured at Fair Value Using Significant Unobservable Inputs (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 |
Reconciliation of Assets Measured at Fair Value Using Significant Unobservable Inputs [Abstract] | ' | ' |
Balance as of January 1 | $902 | $0 |
Assets sold or redeemed | -822 | ' |
Losses included in earnings | -71 | ' |
Losses included in other comprehensive loss | -9 | ' |
Balance as of December 31 | $0 | $0 |
Note_6_Income_Taxes_Details
Note 6 - Income Taxes (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 6 - Income Taxes (Details) [Line Items] | ' | ' |
Undistributed Earnings of Foreign Subsidiaries | $2,300,000 | ' |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 242,000 | ' |
Operating Loss Carryforwards Subject To Limitation | 6,800,000 | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 198,000 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 17,000 | ' |
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 84,000 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 23,000 | -90,000 |
Internal Revenue Service (IRS) [Member] | ' | ' |
Note 6 - Income Taxes (Details) [Line Items] | ' | ' |
Operating Loss Carryforwards | 46,800,000 | ' |
State and Local Jurisdiction [Member] | ' | ' |
Note 6 - Income Taxes (Details) [Line Items] | ' | ' |
Operating Loss Carryforwards | 74,800,000 | ' |
Maximum [Member] | ' | ' |
Note 6 - Income Taxes (Details) [Line Items] | ' | ' |
Operating Loss Carryforwards Subject To Limitation | $5,300,000 | ' |
Note_6_Income_Taxes_Details_Co
Note 6 - Income Taxes (Details) - Components of Income Tax Expense (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current tax (benefit) expense: | ' | ' | ' |
Federal | ($186) | ($77) | $26 |
U.S. State and local | 61 | -61 | 104 |
Total current | -125 | -138 | 130 |
Deferred tax (benefit) expense: | ' | ' | ' |
Federal | 0 | 0 | 0 |
U.S. State and local | 0 | 0 | 0 |
Total deferred | 0 | 0 | 0 |
Total income tax (benefit) expense | ($125) | ($138) | $130 |
Note_6_Income_Taxes_Details_Lo
Note 6 - Income Taxes (Details) - Loss Before Income Taxes (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Loss Before Income Taxes [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
United States | ' | ' | ' | ' | ' | ' | ' | ' | ($1,535) | ($8,706) | ($6,092) |
Canada | ' | ' | ' | ' | ' | ' | ' | ' | 42 | 51 | 24 |
Total | ($1,489) | ($1,777) | $535 | $1,238 | ($5,832) | ($3,527) | ($3,166) | $3,870 | ($1,493) | ($8,655) | ($6,068) |
Note_6_Income_Taxes_Details_US
Note 6 - Income Taxes (Details) - U.S. Statutory Federal Income Tax Rate and Tax (Benefit) Expense (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
U.S. Statutory Federal Income Tax Rate and Tax (Benefit) Expense [Abstract] | ' | ' | ' |
Tax at statutory U.S. federal income tax rate of 35% | ($523) | ($3,029) | ($2,124) |
State and local income taxes, net of federal benefit | 45 | -293 | -148 |
Permanent differences | -26 | 33 | 171 |
Resolution and reevaluation of tax positions | -204 | -102 | 75 |
Other | 428 | 281 | -131 |
Valuation allowance | 155 | 2,972 | 2,287 |
Income tax (benefit) expense | ($125) | ($138) | $130 |
Note_6_Income_Taxes_Details_US1
Note 6 - Income Taxes (Details) - U.S. Statutory Federal Income Tax Rate and Tax (Benefit) Expense (Parentheticals) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
U.S. Statutory Federal Income Tax Rate and Tax (Benefit) Expense [Abstract] | ' | ' | ' |
Statutory U.S. federal income tax rate | 35.00% | 35.00% | 35.00% |
Note_6_Income_Taxes_Details_Si
Note 6 - Income Taxes (Details) - Significant Components of Deferred Taxes (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Deferred revenue | $31 | $336 |
Allowance for doubtful accounts | 444 | 775 |
Accrued enhancement expense | 788 | 1,101 |
Insurance reserves | 1,143 | 1,159 |
Deferred lease credits | 215 | 319 |
Share-based compensation | 502 | 986 |
Vendor rebates | 49 | 662 |
Property and equipment | 3,238 | 1,549 |
Net operating and capital loss carryforward | 20,449 | 17,563 |
Other | 403 | 2,596 |
Valuation allowance | -26,532 | -26,377 |
Total deferred tax assets | 730 | 669 |
Deferred tax liabilities: | ' | ' |
Deferred lease incentives | 648 | 566 |
Prepaid service | 82 | 103 |
Total deferred tax liabilities | 730 | 669 |
Net deferred tax assets | $0 | $0 |
Note_6_Income_Taxes_Details_Ch
Note 6 - Income Taxes (Details) - Changes in Unrecognized Tax Benefits (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Changes in Unrecognized Tax Benefits [Abstract] | ' | ' |
Balance, beginning of year | $508 | $614 |
Additions based on tax positions related to the current year | 57 | 52 |
Additions for tax positions of prior years | 12 | 1 |
Reductions due to statute expiration | -273 | -155 |
Settlements | ' | -4 |
Balance, end of year | $304 | $508 |
Note_7_Leasing_Arrangements_De
Note 7 - Leasing Arrangements (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense | $6 | $6.30 | $6.70 |
Note_7_Leasing_Arrangements_De1
Note 7 - Leasing Arrangements (Details) - Aggregate Minimal Rental Commitments, Net of Guaranteed Sub-Lease Income Under Noncancellable Leases (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Aggregate Minimal Rental Commitments, Net of Guaranteed Sub-Lease Income Under Noncancellable Leases [Abstract] | ' |
2014 | $6,463 |
2015 | 5,463 |
2016 | 4,856 |
2017 | 3,838 |
2018 | 1,826 |
Beyond 2018 | 1,019 |
Total minimum rental commitment | $23,465 |
Note_8_Employee_Benefits_Detai
Note 8 - Employee Benefits (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Number Of Stock Incentive Plans | 5 | ' | ' |
Share-based Compensation Arrangement By Sharebased Payment Award Options Initial Contractual Term | '10 years | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars) | ' | $30,000 | $24,000 |
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options (in Dollars) | ' | 57,000 | 24,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | -11,520,000 | -6,375,000 |
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options (in Dollars) | ' | 44,000 | 81,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars) | 0 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' |
Restricted Stock Unit Time Based Awards [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' |
Restricted Stock Unit Performance Based Awards [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' |
Restricted Stock [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 422,783 | 414,076 | 334,485 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $892,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '1 year 156 days | ' | ' |
Performance Based Restricted Stock [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 177,631 | ' | ' |
RSU and PRSU [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value, Amount Per Share (in Dollars per share) | $2,800,000 | ' | ' |
Stock Incentive Plan [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 826,000 | ' | ' |
Share-Based Compensation Arrangement Restricted Stock Units Received In Exchange Number | 1 | ' | ' |
Stock Option Plan 1995 [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 0 | ' | ' |
Stock Option Plan 1998 [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 47,000 | ' | ' |
Stock Option Plan 2001 [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 44,000 | ' | ' |
Stock Option Plan 2006 [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 142,000 | ' | ' |
Stock Option Plan 2011 [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 593,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 800,000 | ' | ' |
Note_8_Employee_Benefits_Detai1
Note 8 - Employee Benefits (Details) - Components of Pre-tax Stock-based Compensation Expense, Net of Forfeitures and Income Tax Effect (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 8 - Employee Benefits (Details) - Components of Pre-tax Stock-based Compensation Expense, Net of Forfeitures and Income Tax Effect [Line Items] | ' | ' | ' |
Stock-based compensation expense | $1,247 | $2,060 | $1,676 |
Income tax benefit, before consideration of valuation allowance | 483 | 801 | 650 |
Employee Stock Option [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) - Components of Pre-tax Stock-based Compensation Expense, Net of Forfeitures and Income Tax Effect [Line Items] | ' | ' | ' |
Stock-based compensation expense | 6 | 78 | 71 |
Restricted Stock [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) - Components of Pre-tax Stock-based Compensation Expense, Net of Forfeitures and Income Tax Effect [Line Items] | ' | ' | ' |
Stock-based compensation expense | $1,241 | $1,982 | $1,605 |
Note_8_Employee_Benefits_Detai2
Note 8 - Employee Benefits (Details) - Options Granted Under Stock Incentive Plans (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Options Granted Under Stock Incentive Plans [Abstract] | ' | ' | ' |
Outstanding | 212,608,000 | 243,712,000 | 257,716,000 |
Outstanding (in Dollars per share) | $18.89 | $18.25 | $18.01 |
Options exercisable, December 31, 2013 | 109,028,000 | ' | ' |
Options exercisable, December 31, 2013 (in Dollars per share) | $24.86 | ' | ' |
Options expected to vest, December 31, 2013 | 109,028,000 | ' | ' |
Options expected to vest, December 31, 2013 (in Dollars per share) | $24.86 | ' | ' |
Granted | 0 | 0 | 0 |
Granted (in Dollars per share) | $0 | $0 | $0 |
Exercised | 0 | -11,520,000 | -6,375,000 |
Exercised (in Dollars per share) | ' | $4.92 | $3.63 |
Cancelled/forfeited | -103,580,000 | -19,584,000 | -7,629,000 |
Cancelled/forfeited (in Dollars per share) | $12.61 | $19.11 | $22.43 |
Outstanding | 109,028,000 | 212,608,000 | 243,712,000 |
Outstanding (in Dollars per share) | $24.86 | $18.89 | $18.25 |
Note_8_Employee_Benefits_Detai3
Note 8 - Employee Benefits (Details) - Information About Stock Options Granted Under Stock Incentive Plans (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $14.28 |
Range of exercise prices, upper range | $44.60 |
Options, number outstanding (in Shares) | 109,028 |
Options, weighted average remaining contractual life | '1 year 240 days |
Options, weighted average exercise price | $24.86 |
Options, number exercisable (in Shares) | 109,028 |
Options exercisable, weighted average exercise price | $24.86 |
Range One [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $14.28 |
Range of exercise prices, upper range | $14.28 |
Options, number outstanding (in Shares) | 18,381 |
Options, weighted average remaining contractual life | '4 years 65 days |
Options, weighted average exercise price | $14.28 |
Options, number exercisable (in Shares) | 18,381 |
Options exercisable, weighted average exercise price | $14.28 |
Range Two [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $14.31 |
Range of exercise prices, upper range | $17.27 |
Options, number outstanding (in Shares) | 11,250 |
Options, weighted average remaining contractual life | '226 days |
Options, weighted average exercise price | $15.30 |
Options, number exercisable (in Shares) | 11,250 |
Options exercisable, weighted average exercise price | $15.30 |
Range Three [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $22.30 |
Range of exercise prices, upper range | $22.30 |
Options, number outstanding (in Shares) | 1,334 |
Options, weighted average remaining contractual life | '1 year 14 days |
Options, weighted average exercise price | $22.30 |
Options, number exercisable (in Shares) | 1,334 |
Options exercisable, weighted average exercise price | $22.30 |
Range Four [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $22.38 |
Range of exercise prices, upper range | $22.38 |
Options, number outstanding (in Shares) | 6,667 |
Options, weighted average remaining contractual life | '1 year 3 days |
Options, weighted average exercise price | $22.38 |
Options, number exercisable (in Shares) | 6,667 |
Options exercisable, weighted average exercise price | $22.38 |
Range Five [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $22.81 |
Range of exercise prices, upper range | $22.81 |
Options, number outstanding (in Shares) | 7,500 |
Options, weighted average remaining contractual life | '1 year 18 days |
Options, weighted average exercise price | $22.81 |
Options, number exercisable (in Shares) | 7,500 |
Options exercisable, weighted average exercise price | $22.81 |
Range Six [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $27.05 |
Range of exercise prices, upper range | $27.05 |
Options, number outstanding (in Shares) | 45,562 |
Options, weighted average remaining contractual life | '1 year 51 days |
Options, weighted average exercise price | $27.05 |
Options, number exercisable (in Shares) | 45,562 |
Options exercisable, weighted average exercise price | $27.05 |
Range Seven [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $28.59 |
Range of exercise prices, upper range | $28.59 |
Options, number outstanding (in Shares) | 3,334 |
Options, weighted average remaining contractual life | '1 year 58 days |
Options, weighted average exercise price | $28.59 |
Options, number exercisable (in Shares) | 3,334 |
Options exercisable, weighted average exercise price | $28.59 |
Range Eight [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $37.25 |
Range of exercise prices, upper range | $37.25 |
Options, number outstanding (in Shares) | 5,000 |
Options, weighted average remaining contractual life | '1 year 270 days |
Options, weighted average exercise price | $37.25 |
Options, number exercisable (in Shares) | 5,000 |
Options exercisable, weighted average exercise price | $37.25 |
Range Nine [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $37.72 |
Range of exercise prices, upper range | $37.72 |
Options, number outstanding (in Shares) | 5,000 |
Options, weighted average remaining contractual life | '1 year 262 days |
Options, weighted average exercise price | $37.72 |
Options, number exercisable (in Shares) | 5,000 |
Options exercisable, weighted average exercise price | $37.72 |
Range Ten [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, lower range | $44.60 |
Range of exercise prices, upper range | $44.60 |
Options, number outstanding (in Shares) | 5,000 |
Options, weighted average remaining contractual life | '1 year 204 days |
Options, weighted average exercise price | $44.60 |
Options, number exercisable (in Shares) | 5,000 |
Options exercisable, weighted average exercise price | $44.60 |
Note_8_Employee_Benefits_Detai4
Note 8 - Employee Benefits (Details) - Restricted Stock Award Activity (Restricted Stock [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock [Member] | ' | ' | ' |
Note 8 - Employee Benefits (Details) - Restricted Stock Award Activity [Line Items] | ' | ' | ' |
Outstanding at | 631,467 | 551,974 | 453,575 |
Outstanding at (in Dollars per share) | $6.70 | $6.90 | $7.67 |
Granted | 422,783 | 414,076 | 334,485 |
Granted (in Dollars per share) | $2.98 | $6.32 | $5.73 |
Released | -275,005 | -238,498 | -181,599 |
Released (in Dollars per share) | $7.29 | $6.61 | $6.51 |
Forfeited | -73,714 | -96,085 | -54,487 |
Forfeited (in Dollars per share) | $5.14 | $6.44 | $7.44 |
Outstanding at | 705,531 | 631,467 | 551,974 |
Outstanding at (in Dollars per share) | $4.40 | $6.70 | $6.90 |
Note_9_Restructuring_Charges_D
Note 9 - Restructuring Charges (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 9 - Restructuring Charges (Details) [Line Items] | ' | ' | ' |
Restructuring Costs | $214,000 | ' | ' |
Restructuring Charges | 214,000 | 1,130,000 | 36,000 |
Restructuring Reserve, Current | 499,000 | 1,802,000 | ' |
Accrued Liabilities and Other [Member] | ' | ' | ' |
Note 9 - Restructuring Charges (Details) [Line Items] | ' | ' | ' |
Restructuring Reserve, Current | 499,000 | 1,800,000 | ' |
Other Long-Term Liabilities [Member] | ' | ' | ' |
Note 9 - Restructuring Charges (Details) [Line Items] | ' | ' | ' |
Restructuring Reserve, Noncurrent | 44,000 | 327,000 | ' |
Contract Termination [Member] | ' | ' | ' |
Note 9 - Restructuring Charges (Details) [Line Items] | ' | ' | ' |
Restructuring Charges | 225,000 | 327,000 | 10,000 |
Employee Severance [Member] | ' | ' | ' |
Note 9 - Restructuring Charges (Details) [Line Items] | ' | ' | ' |
Restructuring Charges | ($11,000) | $803,000 | $26,000 |
Note_9_Restructuring_Charges_D1
Note 9 - Restructuring Charges (Details) - Summary of Restructuring Reserves (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Balance at January 1, 2011 | $2,129,000 | $2,318,000 | $3,748,000 |
Liabilities recognized | 214,000 | 1,130,000 | 36,000 |
Utilized | -1,800,000 | -1,319,000 | -1,466,000 |
Restructuring reserve | 543,000 | 2,129,000 | 2,318,000 |
Employee Severance [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Balance at January 1, 2011 | 604,000 | 20,000 | 107,000 |
Employee separation, number of employees | ' | 14 | 2 |
Liabilities recognized | -11,000 | 803,000 | 26,000 |
Utilized | -503,000 | -219,000 | -113,000 |
Restructuring reserve | 90,000 | 604,000 | 20,000 |
Contract Termination [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Balance at January 1, 2011 | 1,525,000 | 2,298,000 | 3,641,000 |
Liabilities recognized | 225,000 | 327,000 | 10,000 |
Utilized | -1,297,000 | -1,100,000 | -1,353,000 |
Restructuring reserve | $453,000 | $1,525,000 | $2,298,000 |
Note_10_Commitments_and_Contin1
Note 10 - Commitments and Contingencies (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Marketing Commitments [Member] | Minimum [Member] | Maximum [Member] | |||
Note 10 - Commitments and Contingencies (Details) [Line Items] | ' | ' | ' | ' | ' |
Payments for Legal Settlements | ' | ' | $8,100,000 | ' | ' |
Self Insurance Reserve | 6,600,000 | 6,600,000 | ' | ' | ' |
Self Insurance Reserve, Current | 867,000 | 871,000 | ' | ' | ' |
Loss Contingency, Estimate of Possible Loss | ' | ' | ' | $5,000,000 | $13,500,000 |
Note_11_Additional_Financial_I2
Note 11 - Additional Financial Information (Details) - Additional Financial Information Related to Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Property and equipment | ' | ' |
Property plant and equipment gross | $67,594,000 | $64,964,000 |
Accumulated depreciation | -60,557,000 | -58,584,000 |
Construction in progress | 103,000 | 19,000 |
Net property and equipment | 7,037,000 | 6,380,000 |
Accrued liabilities and other | ' | ' |
Accrued enhancement expense - current | 747,000 | 1,076,000 |
Accrued payroll and related benefits | 1,397,000 | 1,846,000 |
Restructuring reserve - current | 499,000 | 1,802,000 |
Deferred license fees | 126,000 | 1,362,000 |
Marketing accrual | 1,875,000 | 2,063,000 |
Miscellaneous and other expenses accrued at year-end | 2,224,000 | 3,781,000 |
6,868,000 | 11,930,000 | |
Land [Member] | ' | ' |
Property and equipment | ' | ' |
Property plant and equipment gross | 354,000 | 354,000 |
Building and Building Improvements [Member] | ' | ' |
Property and equipment | ' | ' |
Property plant and equipment gross | 5,919,000 | 5,906,000 |
Leasehold Improvements [Member] | ' | ' |
Property and equipment | ' | ' |
Property plant and equipment gross | 14,572,000 | 14,504,000 |
Furniture and Fixtures [Member] | ' | ' |
Property and equipment | ' | ' |
Property plant and equipment gross | 4,003,000 | 4,008,000 |
Medical Equipment [Member] | ' | ' |
Property and equipment | ' | ' |
Property plant and equipment gross | 42,643,000 | 40,173,000 |
Excluding Construction in Progress [Member] | ' | ' |
Property and equipment | ' | ' |
Property plant and equipment gross | $67,491,000 | $64,945,000 |
Note_11_Additional_Financial_I3
Note 11 - Additional Financial Information (Details) - Additional Information Related to Income Statement (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Additional Information Related to Income Statement [Abstract] | ' | ' | ' |
Interest income | $1,013,000 | $964,000 | $765,000 |
Interest expense | -123,000 | -240,000 | -378,000 |
Other-than-temporary impairment on securities | ' | -11,000 | -10,000 |
Realized gains on investments | 0 | 3,000 | 52,000 |
Realized losses on investments | 0 | -60,000 | 0 |
Equity in earnings of unconsolidated affiliates | ' | ' | 41,000 |
Net investment income and other | $890,000 | $656,000 | $470,000 |
Note_12_Merger_Agreement_with_1
Note 12 - Merger Agreement with PhotoMedex, Inc. (Details) (Subsequent Event [Member], Merger with PhotoMedex, Inc. [Member], USD $) | 0 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Feb. 13, 2014 |
Note 12 - Merger Agreement with PhotoMedex, Inc. (Details) [Line Items] | ' |
Sale of Stock, Price Per Share (in Dollars per share) | $5.37 |
Amount Paid to Shareholders Upon Consummation of Merger | $106.40 |
Liabilities Subject to Compromise, Early Contract Termination Fees | 3.2 |
Maximum [Member] | Expenses Incurred by PhotoMedex [Member] | ' |
Note 12 - Merger Agreement with PhotoMedex, Inc. (Details) [Line Items] | ' |
Liabilities Subject to Compromise, Early Contract Termination Fees | $1 |
Note_13_Quarterly_Financial_Da2
Note 13 - Quarterly Financial Data (unaudited) (Details) - Quarterly Consolidated Financial Data (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Consolidated Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $20,616 | $20,656 | $22,609 | $28,304 | $20,194 | $20,009 | $25,152 | $36,138 | $92,185 | $101,493 | $102,983 |
Operating income (loss) | -1,703 | -2,002 | 300 | 1,022 | -5,990 | -3,747 | -3,328 | 3,754 | -2,383 | -9,311 | -6,538 |
Income (loss) before income taxes | -1,489 | -1,777 | 535 | 1,238 | -5,832 | -3,527 | -3,166 | 3,870 | -1,493 | -8,655 | -6,068 |
Net income (loss) | ($1,475) | ($1,560) | $463 | $1,204 | ($5,624) | ($3,549) | ($3,190) | $3,846 | ($1,368) | ($8,517) | ($6,198) |
Income (loss) per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic and Diluted (in Dollars per share) | ($0.08) | ($0.08) | $0.02 | $0.07 | ($0.29) | ($0.19) | ($0.17) | $0.20 | ($0.07) | ($0.45) | ($0.33) |
Schedule_II_Valuation_and_Qual2
Schedule II Valuation and Qualifying Accounts and Reserves (Details) - Schedule II Valuation and Qualifying Accounts and Reserves (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Balance at Beginning of Period | $1,993 | $1,967 | $2,010 |
Charges to Cost and Expenses | 416 | 914 | 746 |
Deductions | 1,267 | 888 | 789 |
Balance at End of Period | 1,142 | 1,993 | 1,967 |
Insurance Reserves [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Balance at Beginning of Period | 6,612 | 7,215 | 7,406 |
Charges to Cost and Expenses | 434 | 1,097 | 854 |
Deductions | 465 | 1,700 | 1,045 |
Balance at End of Period | 6,581 | 6,612 | 7,215 |
Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Balance at Beginning of Period | 26,377 | 23,405 | 21,118 |
Charges to Cost and Expenses | 155 | 2,972 | 2,287 |
Balance at End of Period | $26,532 | $26,377 | $23,405 |