Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 21, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'AWARE INC /MA/ | ' |
Entity Central Index Key | '0001015739 | ' |
Trading Symbol | 'awre | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 22,802,970 |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
CONSOLIDATED_BALANCE_SHEETS_un
CONSOLIDATED BALANCE SHEETS (unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $77,242 | $72,660 |
Accounts receivable, net | 6,032 | 4,582 |
Inventories | 63 | 1,601 |
Deferred tax assets | 280 | 383 |
Prepaid expenses and other current assets | 357 | 695 |
Total current assets | 83,974 | 79,921 |
Property and equipment, net | 5,470 | 5,582 |
Investments | 1,463 | 2,754 |
Long term deferred tax assets | 668 | 762 |
Other assets | 253 | 310 |
Total assets | 91,828 | 89,329 |
Current liabilities: | ' | ' |
Accounts payable | 593 | 1,516 |
Accrued expenses | 92 | 108 |
Accrued compensation | 743 | 571 |
Accrued professional | 131 | 118 |
Accrued income taxes | 88 | ' |
Dividends payable | 39,906 | ' |
Deferred revenue | 2,118 | 1,848 |
Total current liabilities | 43,671 | 4,161 |
Long-term deferred revenue | 18 | 18 |
Commitments and contingent liabilities | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $1.00 par value; 1,000,000 shares authorized, none outstanding | ' | ' |
Common stock, $.01 par value; 70,000,000 shares authorized; issued and outstanding 22,672,056 as of June 30, 2014 and 22,574,251 as of December 31, 2013 | 227 | 226 |
Additional paid-in capital | 102,320 | 101,293 |
Accumulated other comprehensive loss | -4 | -125 |
Accumulated deficit | -54,404 | -16,244 |
Total stockholders' equity | 48,139 | 85,150 |
Total liabilities and stockholders' equity | $91,828 | $89,329 |
CONSOLIDATED_BALANCE_SHEETS_un1
CONSOLIDATED BALANCE SHEETS (unaudited) (Parentheticals) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Statement Of Financial Position [Abstract] | ' | ' |
Preferred stock, par value (in dollars per share) | $1 | $1 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 70,000,000 | 70,000,000 |
Common stock, shares issued | 22,672,056 | 22,574,251 |
Common stock, shares outstanding | 22,672,056 | 22,574,251 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenue: | ' | ' | ' | ' |
Software licenses | $2,065 | $1,258 | $3,682 | $4,591 |
Software maintenance | 1,152 | 1,034 | 2,197 | 1,981 |
Services | 1,338 | 729 | 2,346 | 1,136 |
Hardware sales | 2,048 | 1,129 | 4,681 | 1,129 |
Royalties | 164 | 277 | 478 | 568 |
Total revenue | 6,767 | 4,427 | 13,384 | 9,405 |
Costs and expenses: | ' | ' | ' | ' |
Cost of hardware sales | 1,411 | 813 | 3,313 | 813 |
Cost of services | 618 | 344 | 1,082 | 541 |
Research and development | 1,400 | 1,026 | 2,679 | 1,999 |
Selling and marketing | 981 | 773 | 1,839 | 1,649 |
General and administrative | 975 | 928 | 1,779 | 1,659 |
Total costs and expenses | 5,385 | 3,884 | 10,692 | 6,661 |
Operating income before patent related income | 1,382 | 543 | 2,692 | 2,744 |
Income from patent arrangement | ' | ' | ' | 780 |
Operating income after patent related income | 1,382 | 543 | 2,692 | 3,524 |
Other expense | -59 | ' | -59 | ' |
Interest income | 52 | 78 | 139 | 160 |
Income from continuing operations before income taxes | 1,375 | 621 | 2,772 | 3,684 |
Provision for income taxes | 510 | 156 | 1,026 | 1,247 |
Income from continuing operations | 865 | 465 | 1,746 | 2,437 |
Loss from discontinued operations, net of income taxes | ' | -158 | ' | -273 |
Net income | 865 | 307 | 1,746 | 2,164 |
Basic net income per share: | ' | ' | ' | ' |
Basic net income per share from continuing operations (in dollars per share) | $0.04 | $0.02 | $0.08 | $0.11 |
Basic net loss share from discontinued operations (in dollars per share) | $0 | ($0.01) | $0 | ($0.01) |
Basic net income per share (in dollars per share) | $0.04 | $0.01 | $0.08 | $0.10 |
Diluted net income per share: | ' | ' | ' | ' |
Diluted net income per share from continuing operations (in dollars per share) | $0.04 | $0.02 | $0.08 | $0.11 |
Diluted net loss per share from discontinued operations (in dollars per share) | $0 | ($0.01) | $0 | ($0.01) |
Diluted net income per share (in dollars per share) | $0.04 | $0.01 | $0.08 | $0.10 |
Weighted-average shares - basic (in shares) | 22,630 | 22,517 | 22,628 | 22,514 |
Weighted-average shares - diluted (in shares) | 22,837 | 22,687 | 22,769 | 22,625 |
Comprehensive income: | ' | ' | ' | ' |
Net income | 865 | 307 | 1,746 | 2,164 |
Other comprehensive income (net of tax): | ' | ' | ' | ' |
Unrealized gains (losses) on available for sale securities | 37 | -38 | 121 | 20 |
Comprehensive income | $902 | $269 | $1,867 | $2,184 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $1,746 | $2,164 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 269 | 217 |
Stock-based compensation | 322 | 227 |
Amortization of premium on investments | ' | 10 |
Deferred tax provision on other comprehensive income | -79 | ' |
Loss on sale of investments | 59 | ' |
Changes in assets and liabilities: | ' | ' |
Accounts receivable | -1,312 | -279 |
Receivable from patent arrangement | ' | 1,121 |
Inventories | 1,538 | ' |
Prepaid expenses and other current assets | 338 | -39 |
Deferred tax assets | 197 | 259 |
Accounts payable | -923 | -135 |
Accrued expenses, compensation, and professional | 170 | -92 |
Accrued income taxes | 88 | ' |
Deferred revenue | 270 | 804 |
Net cash provided by operating activities | 2,683 | 4,257 |
Cash flows from investing activities: | ' | ' |
Purchases of property and equipment | -101 | -110 |
Sales of investments | 1,432 | ' |
Net cash provided by (used in) investing activities | 1,331 | -110 |
Cash flows from financing activities: | ' | ' |
Proceeds from issuance of common stock | 68 | 46 |
Excess tax benefits from stock-based compensation | 592 | 488 |
Payments made for taxes of employees who surrendered shares related to unrestricted stock | -92 | ' |
Net cash provided by financing activities | 568 | 534 |
Increase in cash and cash equivalents | 4,582 | 4,681 |
Cash and cash equivalents, beginning of period | 72,660 | 71,074 |
Cash and cash equivalents, end of period | 77,242 | 75,755 |
Supplemental disclosure: | ' | ' |
Cash paid for income taxes | 2 | 464 |
Non-cash transactions: | ' | ' |
Stock option receivables offset against proceeds from issuance of common stock | $138 | ' |
Basis_of_Presentation
Basis of Presentation | 6 Months Ended | |
Jun. 30, 2014 | ||
Basis Of Accounting [Abstract] | ' | |
Basis of Presentation | ' | |
A) | Basis of Presentation. The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and therefore do not include all information and notes necessary for a complete presentation of our financial position, results of operations and cash flows, in conformity with generally accepted accounting principles. We filed audited financial statements which included all information and notes necessary for such presentation for the three years ended December 31, 2013 in conjunction with our 2013 Annual Report on Form 10-K. This Form 10-Q should be read in conjunction with that Form 10-K. | |
The accompanying unaudited consolidated balance sheets, statements of income and comprehensive income, and statements of cash flows reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of financial position at June 30, 2014, and of operations and cash flows for the interim periods ended June 30, 2014 and 2013. | ||
The results of operations for the interim period ended June 30, 2014 are not necessarily indicative of the results to be expected for the year. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value Measurements | ' | ||||||||||||
B) | Fair Value Measurements. The Financial Accounting Standards Board (“FASB”) Codification defines fair value, and establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to the unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under the FASB Codification are: i) Level 1 – valuations that are based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; ii) Level 2 – valuations that are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly; and iii) Level 3 – valuations that require inputs that are both significant to the fair value measurement and unobservable. | ||||||||||||
Cash and cash equivalents, which primarily include money market mutual funds, were $77.2 million and $72.7 million as of June 30, 2014 and December 31, 2013, respectively. We classified our cash equivalents of $74.2 million and $68.6 million as of June 30, 2014 and December 31, 2013 within Level 1 of the fair value hierarchy because they are valued using quoted market prices. | |||||||||||||
Our investments, which consist of high yield corporate debt securities, are also classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. We categorize our investments as available-for-sale securities, and carry them at fair value in our financial statements. We had $1.5 million and $2.8 million of available-for-sale investments as of June 30, 2014 and December 31, 2013, respectively. | |||||||||||||
As of June 30, 2014, our assets that are measured at fair value on a recurring basis and whose carrying values approximate their respective fair values include the following (in thousands): | |||||||||||||
Fair Value Measurement at June 30, 2014 Using: | |||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||
Active Markets for | Observable Inputs | Unobservable | |||||||||||
Identical Assets | Inputs | ||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||
Corporate debt securities | $ | 1,463 | $ | - | $ | - | |||||||
Money market funds (included in cash and cash equivalents) | 74,162 | ||||||||||||
Total | $ | 75,625 | $ | - | $ | - | |||||||
As of December 31, 2013, our assets that are measured at fair value on a recurring basis and whose carrying values approximate their respective fair values include the following (in thousands): | |||||||||||||
Fair Value Measurement at December 31, 2013 Using: | |||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||
Active Markets for | Observable Inputs | Unobservable | |||||||||||
Identical Assets | Inputs | ||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||
Corporate debt securities | $ | 2,754 | $ | - | $ | - | |||||||
Money market funds (included in cash and cash equivalents) | 68,556 | ||||||||||||
Total | $ | 71,310 | $ | - | $ | - |
Inventories
Inventories | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
C) | Inventories. Inventories are stated at the lower of cost or net realizable value with cost being determined by the first-in, first-out (“FIFO”) method. Inventories consisted of the following (in thousands): | ||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Raw materials | $ | 63 | $ | 1,584 | |||||
Finished goods | - | 17 | |||||||
Total | $ | 63 | $ | 1,601 |
Computation_of_Earnings_per_Sh
Computation of Earnings per Share | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Computation of Earnings per Share | ' | ||||||||||||||||
D) | Computation of Earnings per Share. Basic earnings per share is computed by dividing net income or loss by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net income or loss by the weighted average number of common shares outstanding plus additional common shares that would have been outstanding if dilutive potential common shares had been issued. For the purposes of this calculation, stock options are considered common stock equivalents in periods in which they have a dilutive effect. Stock options that are anti-dilutive are excluded from the calculation. | ||||||||||||||||
Net income per share is calculated as follows (in thousands, except per share data): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net income: | |||||||||||||||||
Income from continuing operations | $ | 865 | $ | 465 | $ | 1,746 | $ | 2,437 | |||||||||
Loss from discontinued operations | - | (158 | ) | - | (273 | ) | |||||||||||
Net income | $ | 865 | $ | 307 | $ | 1,746 | $ | 2,164 | |||||||||
Shares outstanding: | |||||||||||||||||
Weighted-average common shares outstanding | 22,630 | 22,517 | 22,628 | 22,514 | |||||||||||||
Additional dilutive common stock equivalents | 207 | 170 | 141 | 111 | |||||||||||||
Diluted shares outstanding | 22,837 | 22,687 | 22,769 | 22,625 | |||||||||||||
Basic net income per share: | |||||||||||||||||
Basic net income per share from continuing operations | $ | 0.04 | $ | 0.02 | $ | 0.08 | $ | 0.11 | |||||||||
Basic net loss per share from discontinued operations | 0 | (0.01 | ) | 0 | (0.01 | ) | |||||||||||
Basic net income per share | $ | 0.04 | $ | 0.01 | $ | 0.08 | $ | 0.1 | |||||||||
Diluted net income per share: | |||||||||||||||||
Diluted net income per share from continuing operations | $ | 0.04 | $ | 0.02 | $ | 0.08 | $ | 0.11 | |||||||||
Diluted net loss per share from discontinued operations | 0 | (0.01 | ) | 0 | (0.01 | ) | |||||||||||
Diluted net income per share | $ | 0.04 | $ | 0.01 | $ | 0.08 | $ | 0.1 | |||||||||
For the three month periods ended June 30, 2014 and 2013, options to purchase 821,838 and 877,238 shares of common stock, respectively, were outstanding, but were not included in the computation of diluted EPS because the options’ exercise prices were greater than the average market price of the common stock and thus would be anti-dilutive. | |||||||||||||||||
For the six month periods ended June 30, 2014 and 2013, options to purchase 821,838 and 825,338 shares of common stock, respectively, were outstanding, but were not included in the computation of diluted EPS because the options’ exercise prices were greater than the average market price of the common stock and thus would be anti-dilutive. |
StockBased_Compensation
Stock-Based Compensation | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
E) | Stock-Based Compensation. The following table presents stock-based employee compensation expenses included in our unaudited consolidated statements of comprehensive income (in thousands): | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Cost of services | $ | 14 | $ | 11 | $ | 15 | $ | 11 | |||||||||
Research and development | 34 | 27 | 37 | 27 | |||||||||||||
Selling and marketing | 6 | 5 | 6 | 5 | |||||||||||||
General and administrative | 239 | 174 | 264 | 184 | |||||||||||||
Stock-based compensation expense | $ | 293 | $ | 217 | $ | 322 | $ | 227 | |||||||||
Stock Option and SAR Grants. We grant stock options and stock appreciation rights (“SARs”) under our 2001 Nonqualified Stock Plan. We estimate the fair value of stock options and SARs using the Black-Scholes valuation model. This valuation model takes into account the exercise price of the award, as well as a variety of significant assumptions. The assumptions used to estimate the fair value of stock options and SARs include the expected term, the expected volatility of our stock over the expected term, the risk-free interest rate over the expected term, and our expected annual dividend yield. We believe that the valuation technique and the approach utilized to develop the underlying assumptions are appropriate in calculating the fair values of our stock options and SARs. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by persons who receive equity awards. | |||||||||||||||||
Unrestricted Stock Grants. We also grant unrestricted shares of stock under our 2001 Nonqualified Stock Plan. Stock-based compensation expense for stock grants is determined based on the fair market value of our stock on the date of grant, provided the number of shares in the grant is fixed on the grant date. | |||||||||||||||||
Stock Option and SAR Grant Activity. We did not grant any stock options or SARs in the three and six month periods ended June 30, 2014 and 2013. | |||||||||||||||||
Unrestricted Stock Grant Activity. We granted shares of unrestricted stock in 2014 and 2013 that affected financial results for the three and six month periods ended June 30, 2014 and 2013. These grants are described below. | |||||||||||||||||
2014 Grant. On March 26, 2014, we granted 152,000 shares of unrestricted stock to directors, officers and employees. The shares are to be issued in two equal installments shortly after June 30, 2014 and December 31, 2014, provided each grantee is serving as a director, officer or employee on those dates. The total stock-based compensation expense related to this grant is $876,000, of which $283,000 and $302,000 were charged to expense in the three and six months ended June 30, 2014, respectively. We anticipate the remaining $574,000 will be charged to expense ratably over the remaining two quarters of 2014. | |||||||||||||||||
2013 Grant. In April 2013, we granted 130,000 shares of unrestricted stock to directors, officers and employees. The shares were issued in two equal installments shortly after June 30, 2013 and December 31, 2013. We expensed the entire $623,000 stock-based compensation expense related to this grant in the second, third and fourth quarters of 2013. We issued shares of common stock related to this grant as follows: i) 51,374 net shares of common stock were issued in early July 2013 after employees surrendered 13,626 shares for which we paid $71,000 of withholding taxes on their behalf; and ii) 49,936 net shares of common stock were issued in early January 2014 after employees surrendered 15,064 shares for which we paid $92,000 of withholding taxes on their behalf. |
Business_Segments
Business Segments | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Business Segments | ' | ||||||||||||||||
F) | Business Segments. We organize ourselves into a single segment that reports to the chief operating decision makers. | ||||||||||||||||
We conduct our operations in the United States and sell our products and services to domestic and international customers. Revenues were generated from the following geographic regions (in thousands): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
United States | $ | 5,295 | $ | 3,284 | $ | 10,791 | $ | 6,793 | |||||||||
Rest of World | 1,472 | 1,143 | 2,593 | 2,612 | |||||||||||||
$ | 6,767 | $ | 4,427 | $ | 13,384 | $ | 9,405 | ||||||||||
There were no single foreign countries from which we derived 10% or more of total revenue in the three and six month periods ended June 30, 2014 and 2013. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 6 Months Ended | |
Jun. 30, 2014 | ||
Accounting Changes and Error Corrections [Abstract] | ' | |
Recent Accounting Pronouncements | ' | |
G) | Recent Accounting Pronouncements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The ASU is the result of a joint project by the FASB and the International Accounting Standards Board (“IASB”) to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP and International Financial Reporting Standards (“IFRS”) that would: remove inconsistencies and weaknesses, provide a more robust framework for addressing revenue issues, improve comparability of revenue recognition practices across entities, jurisdictions, industries, and capital markets, improve disclosure requirements and resulting financial statements, and simplify the presentation of financial statements. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU is effective for annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. We are currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures. | |
With the exception of the new revenue standard discussed above, there have been no other recently issued accounting pronouncements that are of significance or potential significance to us that we have not adopted as of June 30, 2014. |
Income_Taxes
Income Taxes | 6 Months Ended | |
Jun. 30, 2014 | ||
Income Tax Disclosure [Abstract] | ' | |
Income Taxes | ' | |
H) | Income Taxes. Income tax expense was $0.5 million and $0.2 for the three months ended June 30, 2014 and 2013, respectively. Income tax expense was $1.0 million and $1.2 million for the six months ended June 30, 2014 and 2013, respectively. Income tax expense in the three and six month periods of 2014 and 2013 was based on the U.S. statutory rate of 34%, increased by state income taxes. | |
In the six month periods ended June 30, 2014 and 2013, we utilized deferred tax assets to reduce our tax liability payable to the government. A portion of the deferred tax assets we used comprised cumulative deductions for stock options in excess of book expense. Under income tax accounting rules, that portion of tax benefits attributable to such deductions must be recorded as an adjustment to equity versus a reduction of income tax expense. The tax benefits from such stock-based awards were $0.6 million and $0.5 million in the six month periods ended June 30, 2014 and 2013, respectively. These tax benefits were recorded as an equity adjustment to additional paid-in capital. | ||
As of June 30, 2014, we had a total of $0.9 million of deferred tax assets for which we had recorded no valuation allowance. We will continue to assess the level of valuation allowance in future periods. Should evidence regarding the realizability of tax assets change at a future point in time, the valuation allowance will be adjusted accordingly. | ||
In addition to deferred tax assets carried on our balance sheet, we also had net federal and state research and development credit carryforwards available at December 31, 2013 of $4.9 million and $0.7 million. These credits were not recorded as tax assets as they relate to excess stock compensation deductions that may not be recorded as tax assets under generally accepted accounting principles until the amounts have been utilized to reduce our tax liability. To the extent that these assets are used to reduce future taxes, the benefit will be recorded as a reduction to additional paid-in capital. The aforementioned $0.6 million and $0.5 million equity adjustments to additional paid-in capital in the six month periods ended June 30, 2014 and 2013 were related to these deferred tax assets. |
Discontinued_Operations
Discontinued Operations | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||||||
Discontinued Operations | ' | ||||||||||||||||
I) | Discontinued Operations. In 2013, we shut down our DSL service assurance software product line, which was previously a component of our DSL Service Assurance Segment. We completed the shutdown in the fourth quarter of 2013 and no longer have any significant continuing involvement with, or cash flows from, this product line. The results of our DSL service assurance software product line have been included in discontinued operations in the consolidated statements of income and comprehensive income. The loss from discontinued operations attributable to the DSL service assurance software product line was (in thousands): | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenue | $ | - | $ | 423 | $ | - | $ | 1,061 | |||||||||
Expenses | - | 683 | - | 1,511 | |||||||||||||
Loss before income taxes | - | (260 | ) | - | (450 | ) | |||||||||||
Income tax benefit | - | 102 | - | 177 | |||||||||||||
Loss from discontinued operations | $ | - | ($ | 158 | ) | $ | - | ($ | 273 | ) | |||||||
The consolidated statements of income and comprehensive income for the three and six months ended June 30, 2013 have been reclassified to reflect the effect of discontinued operations as set forth above. |
Equity
Equity | 6 Months Ended | |||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||
Equity | ' | |||||||||||||||||
J) | Equity | |||||||||||||||||
Accumulated Deficit. The changes in accumulated deficit for the six months ended June 30, 2014 were as follows (in thousands): | ||||||||||||||||||
Balance as of December 31, 2013 | ($ | 16,244 | ) | |||||||||||||||
Net income | 1,746 | |||||||||||||||||
Dividends payable | (39,906 | ) | ||||||||||||||||
Balance as of June 30, 2014 | ($ | 54,404 | ) | |||||||||||||||
Dividends. On June 26, 2014, our board of directors declared a special cash dividend of $1.75 per share. The dividend was paid on July 24, 2014 to shareholders of record as of July 10, 2014. The total dividend payment was $39.9 million. | ||||||||||||||||||
Accumulated Other Comprehensive Loss. The components of accumulated other comprehensive loss and activity were as follows (in thousands): | ||||||||||||||||||
December 31, | Increase/ | Reclassification | June 30, | |||||||||||||||
2013 | Decrease | Adjustments | 2014 | |||||||||||||||
Unrealized losses on available for sale securities | ($ | 206 | ) | $ | 119 | $ | 59 | ($ | 28 | ) | ||||||||
Unrealized gains on available for sale securities | - | 22 | - | 22 | ||||||||||||||
Net unrealized gains (losses) on available for sale securities | (206 | ) | 141 | 59 | (a) | (6 | ) | |||||||||||
Income tax benefit (expense) on other comprehensive loss | 81 | (59 | ) | (20 | ) | 2 | ||||||||||||
Total accumulated other comprehensive loss, net of taxes | ($ | 125 | ) | $ | 82 | $ | 39 | ($ | 4 | ) | ||||||||
(a) | – Classified in other expense. |
Subsequent_Event
Subsequent Event | 6 Months Ended | |
Jun. 30, 2014 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Event | ' | |
K) | Subsequent Event. On July 21, 2014, we entered into an agreement to sell a portion of our patent portfolio pertaining to DSL diagnostic technology for $2.6 million to an unrelated third party. The proceeds from the sale will be reduced by $0.4 million of transaction costs, which consist primarily of fees from the law firm that assisted us in the sale. We expect the transaction will close during the three months ended September 30, 2014. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Schedule of assets measured at fair value on a recurring basis | ' | ||||||||||||
Fair Value Measurement at June 30, 2014 Using: | |||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||
Active Markets for | Observable Inputs | Unobservable | |||||||||||
Identical Assets | Inputs | ||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||
Corporate debt securities | $ | 1,463 | $ | - | $ | - | |||||||
Money market funds (included in cash and cash equivalents) | 74,162 | ||||||||||||
Total | $ | 75,625 | $ | - | $ | - | |||||||
Fair Value Measurement at December 31, 2013 Using: | |||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||
Active Markets for | Observable Inputs | Unobservable | |||||||||||
Identical Assets | Inputs | ||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||
Corporate debt securities | $ | 2,754 | $ | - | $ | - | |||||||
Money market funds (included in cash and cash equivalents) | 68,556 | ||||||||||||
Total | $ | 71,310 | $ | - | $ | - |
Inventories_Tables
Inventories (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of inventories | ' | ||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Raw materials | $ | 63 | $ | 1,584 | |||||
Finished goods | - | 17 | |||||||
Total | $ | 63 | $ | 1,601 |
Computation_of_Earnings_per_Sh1
Computation of Earnings per Share (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of net income per share | ' | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net income: | |||||||||||||||||
Income from continuing operations | $ | 865 | $ | 465 | $ | 1,746 | $ | 2,437 | |||||||||
Loss from discontinued operations | - | (158 | ) | - | (273 | ) | |||||||||||
Net income | $ | 865 | $ | 307 | $ | 1,746 | $ | 2,164 | |||||||||
Shares outstanding: | |||||||||||||||||
Weighted-average common shares outstanding | 22,630 | 22,517 | 22,628 | 22,514 | |||||||||||||
Additional dilutive common stock equivalents | 207 | 170 | 141 | 111 | |||||||||||||
Diluted shares outstanding | 22,837 | 22,687 | 22,769 | 22,625 | |||||||||||||
Basic net income per share: | |||||||||||||||||
Basic net income per share from continuing operations | $ | 0.04 | $ | 0.02 | $ | 0.08 | $ | 0.11 | |||||||||
Basic net loss per share from discontinued operations | 0 | (0.01 | ) | 0 | (0.01 | ) | |||||||||||
Basic net income per share | $ | 0.04 | $ | 0.01 | $ | 0.08 | $ | 0.1 | |||||||||
Diluted net income per share: | |||||||||||||||||
Diluted net income per share from continuing operations | $ | 0.04 | $ | 0.02 | $ | 0.08 | $ | 0.11 | |||||||||
Diluted net loss per share from discontinued operations | 0 | (0.01 | ) | 0 | (0.01 | ) | |||||||||||
Diluted net income per share | $ | 0.04 | $ | 0.01 | $ | 0.08 | $ | 0.1 |
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ||||||||||||||||
Schedule of stock-based employee compensation expense included in unaudited consolidated statements of comprehensive income | ' | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Cost of services | $ | 14 | $ | 11 | $ | 15 | $ | 11 | |||||||||
Research and development | 34 | 27 | 37 | 27 | |||||||||||||
Selling and marketing | 6 | 5 | 6 | 5 | |||||||||||||
General and administrative | 239 | 174 | 264 | 184 | |||||||||||||
Stock-based compensation expense | $ | 293 | $ | 217 | $ | 322 | $ | 227 |
Business_Segments_Tables
Business Segments (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of revenues generated from geographic regions | ' | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
United States | $ | 5,295 | $ | 3,284 | $ | 10,791 | $ | 6,793 | |||||||||
Rest of World | 1,472 | 1,143 | 2,593 | 2,612 | |||||||||||||
$ | 6,767 | $ | 4,427 | $ | 13,384 | $ | 9,405 |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||||||
Schedule of loss from discontinued operations attributable to the DSL service assurance software product line | ' | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenue | $ | - | $ | 423 | $ | - | $ | 1,061 | |||||||||
Expenses | - | 683 | - | 1,511 | |||||||||||||
Loss before income taxes | - | (260 | ) | - | (450 | ) | |||||||||||
Income tax benefit | - | 102 | - | 177 | |||||||||||||
Loss from discontinued operations | $ | - | ($ | 158 | ) | $ | - | ($ | 273 | ) |
Equity_Tables
Equity (Tables) | 6 Months Ended | |||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||
Schedule of changes in accumulated deficit | ' | |||||||||||||||||
Balance as of December 31, 2013 | ($ | 16,244 | ) | |||||||||||||||
Net income | 1,746 | |||||||||||||||||
Dividends payable | (39,906 | ) | ||||||||||||||||
Balance as of June 30, 2014 | ($ | 54,404 | ) | |||||||||||||||
Schedule of components of accumulated other comprehensive loss and activity | ' | |||||||||||||||||
December 31, | Increase/ | Reclassification | June 30, | |||||||||||||||
2013 | Decrease | Adjustments | 2014 | |||||||||||||||
Unrealized losses on available for sale securities | ($ | 206 | ) | $ | 119 | $ | 59 | ($ | 28 | ) | ||||||||
Unrealized gains on available for sale securities | - | 22 | - | 22 | ||||||||||||||
Net unrealized gains (losses) on available for sale securities | (206 | ) | 141 | 59 | (a) | (6 | ) | |||||||||||
Income tax benefit (expense) on other comprehensive loss | 81 | (59 | ) | (20 | ) | 2 | ||||||||||||
Total accumulated other comprehensive loss, net of taxes | ($ | 125 | ) | $ | 82 | $ | 39 | ($ | 4 | ) | ||||||||
(a) | – Classified in other expense. |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets measured at fair value on a recurring basis (Details) (Fair value on recurring basis, USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets measured at fair value | $75,625 | $71,310 |
Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Corporate debt securities | 1,463 | 2,754 |
Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds (included in cash and cash equivalents) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds (included in cash and cash equivalents) | 74,162 | 68,556 |
Fair Value Measurement, Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets measured at fair value | ' | ' |
Fair Value Measurement, Significant Other Observable Inputs (Level 2) | Corporate debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Corporate debt securities | ' | ' |
Fair Value Measurement, Significant Other Observable Inputs (Level 2) | Money market funds (included in cash and cash equivalents) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds (included in cash and cash equivalents) | ' | ' |
Fair Value Measurement, Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets measured at fair value | ' | ' |
Fair Value Measurement, Significant Unobservable Inputs (Level 3) | Corporate debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Corporate debt securities | ' | ' |
Fair Value Measurement, Significant Unobservable Inputs (Level 3) | Money market funds (included in cash and cash equivalents) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds (included in cash and cash equivalents) | ' | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Detail Textuals) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, primarily include money market funds | $77,242 | $72,660 | $75,755 | $71,074 |
Fair value on recurring basis | Corporate debt securities | Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available-for-sale investments | 1,463 | 2,754 | ' | ' |
Fair value on recurring basis | Money market funds (included in cash and cash equivalents) | Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, primarily include money market funds | $74,162 | $68,556 | ' | ' |
Inventories_Summary_of_invento
Inventories - Summary of inventories (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $63 | $1,584 |
Finished goods | ' | 17 |
Total | $63 | $1,601 |
Computation_of_Earnings_per_Sh2
Computation of Earnings per Share - Summary of net income per share (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net income: | ' | ' | ' | ' |
Income from continuing operations | $865 | $465 | $1,746 | $2,437 |
Loss from discontinued operations | ' | -158 | ' | -273 |
Net income | $865 | $307 | $1,746 | $2,164 |
Shares outstanding: | ' | ' | ' | ' |
Weighted-average common shares outstanding (in shares) | 22,630 | 22,517 | 22,628 | 22,514 |
Additional dilutive common stock equivalents (in shares) | 207 | 170 | 141 | 111 |
Diluted shares outstanding (in shares) | 22,837 | 22,687 | 22,769 | 22,625 |
Basic net income per share: | ' | ' | ' | ' |
Basic net income per share from continuing operations (in dollars per share) | $0.04 | $0.02 | $0.08 | $0.11 |
Basic net loss per share from discontinued operations (in dollars per share) | $0 | ($0.01) | $0 | ($0.01) |
Basic net income per share (in dollars per share) | $0.04 | $0.01 | $0.08 | $0.10 |
Diluted net income per share: | ' | ' | ' | ' |
Diluted net income per share from continuing operations (in dollars per share) | $0.04 | $0.02 | $0.08 | $0.11 |
Diluted net loss per share from discontinued operations (in dollars per share) | $0 | ($0.01) | $0 | ($0.01) |
Diluted net income per share (in dollars per share) | $0.04 | $0.01 | $0.08 | $0.10 |
Computation_of_Earnings_per_Sh3
Computation of Earnings per Share (Detail Textuals) (Options) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Options | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive common stock Share purchase (in shares) | 821,838 | 877,238 | 821,838 | 825,338 |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of stock-based employee compensation expenses (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation | $293 | $217 | $322 | $227 |
Cost of services | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation | 14 | 11 | 15 | 11 |
Research and development | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation | 34 | 27 | 37 | 27 |
Selling and marketing | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation | 6 | 5 | 6 | 5 |
General and administrative | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation | $239 | $174 | $264 | $184 |
StockBased_Compensation_Detail
Stock-Based Compensation (Detail Textuals) (Unrestricted Stock Grants, 2001 Nonqualified Stock Plan, Directors, officers and employees, USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | |
Mar. 26, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Apr. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
2014 Grant | 2014 Grant | 2014 Grant | 2014 Grant | 2014 Grant | 2013 Grant | 2013 Grant | 2013 Grant | 2013 Grant | |
Subsequent event | Subsequent event | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares granted (in shares) | 152,000 | ' | ' | ' | ' | 130,000 | ' | ' | ' |
Stock-based compensation expense | ' | $283,000 | $302,000 | $574,000 | $876,000 | ' | ' | ' | $623,000 |
Number of shares issued (in shares) | ' | ' | ' | ' | ' | ' | 51,374 | 49,936 | ' |
Number of common stock shares surrendered by employees withholding taxes | ' | ' | ' | ' | ' | ' | 13,626 | 15,064 | ' |
Common stock value surrendered by employees withholding taxes | ' | ' | ' | ' | ' | ' | $71,000 | $92,000 | ' |
Business_Segments_Revenues_gen
Business Segments - Revenues generated following geographic regions (Details ) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | $6,767 | $4,427 | $13,384 | $9,405 |
United States | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 5,295 | 3,284 | 10,791 | 6,793 |
Rest of World | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | $1,472 | $1,143 | $2,593 | $2,612 |
Income_Taxes_Detail_Textuals
Income Taxes (Detail Textuals) (USD $) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Federal | State | |||||
Research and development credit carryforwards | Research and development credit carryforwards | |||||
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' |
Income tax expense | $510,000 | $156,000 | $1,026,000 | $1,247,000 | ' | ' |
Income tax U.S. statutory rate | 34.00% | 34.00% | 34.00% | 34.00% | ' | ' |
Equity adjustment to additional paid-in capital | ' | ' | 600,000 | 500,000 | ' | ' |
Deferred tax assets | 900,000 | ' | 900,000 | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' |
Net federal and state research and development credit carryforwards | ' | ' | ' | ' | $4,900,000 | $700,000 |
Discontinued_Operations_Loss_f
Discontinued Operations - Loss from discontinued operations attributable to DSL service assurance software product line (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Loss from discontinued operations | ' | ($158) | ' | ($273) |
DSL service assurance software product line | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Revenue | ' | 423 | ' | 1,061 |
Expenses | ' | 683 | ' | 1,511 |
Loss before income taxes | ' | -260 | ' | -450 |
Income tax benefit | ' | 102 | ' | 177 |
Loss from discontinued operations | ' | ($158) | ' | ($273) |
Equity_Changes_in_accumulated_
Equity - Changes in accumulated deficit (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Equity [Abstract] | ' | ' | ' | ' |
Balance as of December 31, 2013 | ' | ' | ($16,244) | ' |
Net income | 865 | 307 | 1,746 | 2,164 |
Dividends payable | ' | ' | -39,906 | ' |
Balance as of June 30, 2014 | ($54,404) | ' | ($54,404) | ' |
Equity_Components_of_accumulat
Equity - Components of accumulated other comprehensive loss and activity (Details 1) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | |
Beginning balance Net unrealized gains (losses) on available for sale securities | ($206) | |
Beginning balance Income tax benefit (expense) on other comprehensive loss | 81 | |
Beginning balance Total accumulated other comprehensive loss, net of taxes | -125 | |
Increase/Decrease Net unrealized gains (losses) on available for sale securities | 141 | |
Increase/Decrease Income tax benefit (expense) on other comprehensive loss | -59 | |
Increase/Decrease Total accumulated other comprehensive loss, net of taxes | 82 | |
Reclassification Adjustments Net unrealized gains (losses) on available for sale securities | 59 | [1] |
Reclassification Adjustments Income tax benefit (expense) on other comprehensive loss | -20 | |
Reclassification Adjustments Total accumulated other comprehensive loss, net of taxes | 39 | |
Ending balance Net unrealized gains (losses) on available for sale securities | -6 | |
Ending balance Income tax benefit (expense) on other comprehensive loss | 2 | |
Ending balance Total accumulated other comprehensive loss, net of taxes | -4 | |
Unrealized losses on available for sale securities | ' | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | |
Beginning balance Net unrealized gains (losses) on available for sale securities | -206 | |
Increase/Decrease Net unrealized gains (losses) on available for sale securities | 119 | |
Reclassification Adjustments Net unrealized gains (losses) on available for sale securities | 59 | |
Ending balance Net unrealized gains (losses) on available for sale securities | -28 | |
Unrealized gains on available for sale securities | ' | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | |
Beginning balance Net unrealized gains (losses) on available for sale securities | ' | |
Increase/Decrease Net unrealized gains (losses) on available for sale securities | 22 | |
Reclassification Adjustments Net unrealized gains (losses) on available for sale securities | ' | |
Ending balance Net unrealized gains (losses) on available for sale securities | $22 | |
[1] | Classified in other expense. |
Equity_Detail_Textuals
Equity (Detail Textuals) (USD $) | 1 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jun. 26, 2014 | Jun. 30, 2014 |
Equity [Abstract] | ' | ' |
Dividend declared date | 26-Jun-14 | ' |
Cash dividend payable (in dollars per share) | $1.75 | ' |
Dividends payable date | 24-Jul-14 | ' |
Shareholders of record date | 10-Jul-14 | ' |
Dividends payable | $39,900 | $39,906 |
Subsequent_Event_Detail_Textua
Subsequent Event (Detail Textuals) (Subsequent event, DSL diagnostic technology, USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Jul. 21, 2014 |
Subsequent event | DSL diagnostic technology | ' |
Subsequent Event [Line Items] | ' |
Estimated sales from patent portfolio | $2.60 |
Transaction cost | $0.40 |