Vascular Solutions 10-K 22 Jan 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Jan. 18, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	VASCULAR SOLUTIONS INC
Entity Central Index Key	1,030,206
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 576,467,340
Entity Common Stock, Shares Outstanding		17,356,911
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 41,491	$ 36,461
Accounts receivable, net of reserves of $360 and $300 at December 31, 2015 and 2014, respectively	19,121	17,105
Inventories	22,105	15,908
Prepaid expenses and other	4,361	5,231
Total current assets	87,078	74,705
Property, plant and equipment, net	34,508	25,665
Goodwill	10,045	10,259
Intangible assets, net	8,445	10,164
Deferred tax assets, net of liabilities	4,797	5,814
Total assets	144,873	126,607
Current liabilities:
Accounts payable	5,830	4,806
Accrued compensation	6,702	4,580
Accrued expenses	3,626	3,016
Accrued royalties	226	230
Current portion of deferred revenue	273	391
Total current liabilities	16,657	13,023
Long-term deferred revenue, net of current portion	0	202
Long-term deferred tax liabilities	72	42
Total long-term liabilities	$ 72	$ 244
Commitments and contingencies
Shareholders' equity:
Common stock, $0.01 par value: Authorized shares - 40,000,000 Issued and outstanding shares - 17,386,853 - 2015; 17,202,365 - 2014	$ 174	$ 172
Additional paid-in capital	102,123	97,324
Other	(1,186)	(725)
Accumulated earnings	27,033	16,569
Total shareholders' equity	128,144	113,340
Total liabilities and shareholders' equity	$ 144,873	$ 126,607

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Reserves for accounts receivable	$ 360	$ 300
Shareholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	17,386,853	17,202,365
Common stock, shares outstanding (in shares)	17,386,853	17,202,365

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net revenue
Product revenue	$ 146,616	$ 125,666	$ 110,197
License, royalty and collaboration revenue	584	433	301
Total revenue	147,200	126,099	110,498
Product costs and operating expenses:
Cost of goods sold	48,903	41,699	36,156
Collaboration expenses	141	165	60
Research and development	18,358	13,441	13,191
Clinical and regulatory	6,323	4,979	4,408
Sales and marketing	34,085	29,825	27,372
General and administrative	22,583	12,986	8,991
Litigation settlement	0	0	1,332
Medical device excise taxes	1,593	1,435	1,319
Amortization of purchased technology and intangibles	1,615	1,642	1,572
Total product costs and operating expenses	133,601	106,172	94,401
Operating earnings	13,599	19,927	16,097
Other income (expenses)	42	(15)	(14)
Earnings before income taxes	13,641	19,912	16,083
Income tax expense	(3,177)	(7,178)	(4,941)
Net earnings	$ 10,464	$ 12,734	$ 11,142
Basic net earnings per common share (in dollars per share)	$ 0.61	$ 0.75	$ 0.68
Diluted net earnings per common share (in dollars per share)	$ 0.58	$ 0.72	$ 0.65
Shares used in computing basic net earnings per common share (in shares)	17,103,613	16,891,643	16,412,322
Shares used in computing diluted net earnings per common share (in shares)	18,047,661	17,710,562	17,025,090

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Comprehensive Earnings [Abstract]
Net earnings	$ 10,464	$ 12,734	$ 11,142
Other comprehensive earnings (loss), net of tax of $0: Foreign currency translation adjustments	(461)	(724)	149
Total comprehensive earnings	$ 10,003	$ 12,010	$ 11,291

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Earnings (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Comprehensive Earnings [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Other [Member]	Accumulated Earnings (Deficit) [Member]	Total
Balance at Dec. 31, 2012	$ 164	$ 84,160	$ (150)	$ (7,307)	$ 76,867
Balance (in shares) at Dec. 31, 2012	16,378,923
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options	$ 4	2,780	0	0	2,784
Exercise of stock options (in shares)	354,300
Issuance of common stock under the Employee Stock Purchase Plan	$ 1	1,191	0	0	$ 1,192
Issuance of common stock under the Employee Stock Purchase Plan (in shares)	124,098				124,100
Stock-based compensation	$ 2	3,341	0	0	$ 3,343
Stock-based compensation (in shares)	183,034
Repurchase and cancellation of common stock upon the vesting of restricted shares	$ (1)	(1,210)	0	0	(1,211)
Repurchase and cancellation of common stock upon the vesting of restricted shares (in shares)	(75,402)
Tax benefit from stock-based awards	$ 0	2,084	0	0	2,084
Comprehensive earnings:
Net earnings	0	0	0	11,142	11,142
Translation adjustment	0	0	149	0	149
Total comprehensive earnings					11,291
Balance at Dec. 31, 2013	$ 170	92,346	(1)	3,835	96,350
Balance (in shares) at Dec. 31, 2013	16,964,953
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options	$ 1	970	0	0	971
Exercise of stock options (in shares)	102,000
Issuance of common stock under the Employee Stock Purchase Plan	$ 1	1,434	0	0	$ 1,435
Issuance of common stock under the Employee Stock Purchase Plan (in shares)	103,467				103,500
Stock-based compensation	$ 1	3,881	0	0	$ 3,882
Stock-based compensation (in shares)	165,911
Repurchase and cancellation of common stock upon the vesting of restricted shares	$ (1)	(2,311)	0	0	(2,312)
Repurchase and cancellation of common stock upon the vesting of restricted shares (in shares)	(100,565)
Repurchase of common stock under stock repurchase agreement	$ 0	(819)	0	0	(819)
Repurchase of common stock under stock repurchase agreement (in shares)	(33,401)
Tax benefit from stock-based awards	$ 0	1,823	0	0	1,823
Comprehensive earnings:
Net earnings	0	0	0	12,734	12,734
Translation adjustment	0	0	(724)	0	(724)
Total comprehensive earnings					12,010
Balance at Dec. 31, 2014	$ 172	97,324	(725)	16,569	$ 113,340
Balance (in shares) at Dec. 31, 2014	17,202,365				17,202,365
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options	$ 1	417	0	0	$ 418
Exercise of stock options (in shares)	52,000
Issuance of common stock under the Employee Stock Purchase Plan	$ 1	1,647	0	0	$ 1,648
Issuance of common stock under the Employee Stock Purchase Plan (in shares)	89,170				89,200
Stock-based compensation	$ 1	4,125	0	0	$ 4,126
Stock-based compensation (in shares)	125,302
Repurchase and cancellation of common stock upon the vesting of restricted shares	$ (1)	(2,332)	0	0	(2,333)
Repurchase and cancellation of common stock upon the vesting of restricted shares (in shares)	(81,984)
Tax benefit from stock-based awards	$ 0	942	0	0	942
Comprehensive earnings:
Net earnings	0	0	0	10,464	10,464
Translation adjustment	0	0	(461)	0	(461)
Total comprehensive earnings					10,003
Balance at Dec. 31, 2015	$ 174	$ 102,123	$ (1,186)	$ 27,033	$ 128,144
Balance (in shares) at Dec. 31, 2015	17,386,853				17,386,853

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net earnings	$ 10,464	$ 12,734	$ 11,142
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	4,381	3,257	2,861
Amortization	1,615	1,642	1,572
Stock-based compensation	4,126	3,882	3,343
Deferred taxes, net	1,051	1,971	3,138
Tax benefit from stock-based awards	(942)	(1,823)	(2,084)
Gain on disposal of fixed assets	0	(24)	(17)
Change in fair value of contingent consideration	0	0	(79)
Change in accounts receivable allowance	60	100	15
Changes in operating assets and liabilities:
Accounts receivable	(2,092)	(2,741)	(713)
Inventories	(6,256)	(1,909)	(435)
Prepaid expenses and other	1,857	(948)	158
Accounts payable	1,063	1,086	(86)
Accrued compensation and expenses	2,747	622	485
Amortization of deferred license fees and other deferred revenue	(320)	(370)	86
Net cash provided by operating activities	17,754	17,479	19,386
Investing activities
Purchase of property and equipment	(10,605)	(5,681)	(4,234)
Purchase of building and land	(2,748)	(7,123)	0
Proceeds from the sale of equipment	0	28	22
Cash paid for acquisitions	0	0	(820)
Net cash used in investing activities	(13,353)	(12,776)	(5,032)
Financing activities
Net proceeds from the exercise of stock options	418	971	2,784
Net proceeds from the sale of common stock, employee stock purchase plan	1,648	1,435	1,192
Tax benefit from stock-based awards	942	1,823	2,084
Repurchase of common shares	(2,333)	(3,131)	(1,211)
Net cash provided by financing activities	675	1,098	4,849
Effect of exchange rate changes on cash and cash equivalents	(46)	(125)	28
Increase in cash and cash equivalents	5,030	5,676	19,231
Cash and cash equivalents at beginning of year	36,461	30,785	11,554
Cash and cash equivalents at end of year	41,491	36,461	30,785
Supplemental disclosure of cash flow
Cash paid for interest	0	3	13
Cash paid for federal and state income taxes	$ 2,490	$ 3,769	$ 1,673

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2015
Description of Business [Abstract]
Description of Business	1. Description of Business Vascular Solutions, Inc. (the Company) is a medical device company focused on bringing clinically advanced solutions to interventional cardiologists and interventional radiologists. In order to provide a detailed product-specific revenue analysis, in the first quarter of 2015 the Company began reporting net revenue of the top product lines. The top product lines in 2015 were as follows: 1. GuideLiner ® 2. Pronto ® 3. Vein catheter reprocessing service for the ClosureFAST ® 4. Micro-introducer kits, used to gain percutaneous access to the vasculature to perform minimally invasive procedures. 5. Hemostatic patches, consisting principally of blood clotting products, such as the D-Stat ® 6. Radial access products, includes products such as the Accumed ™ ™ 7. Langston ® 8. D-Stat ® As a vertically-integrated medical device company, the Company generates ideas and creates new minimally invasive devices or services and then delivers these products and services to the physicians through a direct domestic sales force and an international distribution network. The Company was incorporated in the state of Minnesota in December 1996 and began operations in February 1997.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Consolidation The consolidated financial statements include the accounts of Vascular Solutions, Inc. and its wholly-owned subsidiary Vascular Solutions Zerusa Limited, after elimination of intercompany accounts and transactions. Segment Reporting The Company’s chief operating decision maker ("CODM") is its Chief Executive Officer. A business segment is a distinguishable component of an enterprise that is engaged in providing an individual product or service or a group of related products or services and that is subject to risks and returns that are different from those of other business segments. The Company’s segments have similar economic characteristics and are similar in the nature of the products sold, type of customers, methods used to distribute the Company’s products and regulatory environment. Management believes that the Company meets the criteria for aggregating its operating segments into a single reporting segment. The following tables set forth, for the periods indicated, net revenue by product line along with the percentage change from the previous period for each of the Company’s top products by net revenue: Year ended December 31, 2015 2014 2013 Product Primary Market Net Revenue Percent Change Net Revenue Percent Change Net Revenue (dollars in thousands) GuideLiner Interventional cardiology $ 45,409 43 % $ 31,836 53 % $ 20,782 Pronto catheters Interventional cardiology 14,970 (17 %) 17,998 (11 %) 20,272 Vein catheter reprocessing Phlebology 12,602 23 % 10,207 24 % 8,204 Micro-introducer kits Interventional radiology 12,337 18 % 10,416 17 % 8,894 Hemostatic patches Interventional cardiology 11,998 (3 %) 12,416 (5 %) 13,068 Radial access products Interventional cardiology 7,436 27 % 5,839 34 % 4,347 Langston catheters Interventional cardiology 6,590 8 % 6,109 6 % 5,781 D-Stat Flowable hemostat Electrophysiology 5,322 (3 %) 5,462 (4 %) 5,697 Foreign Currency Translation and Transactions The functional currency of the company's foreign operations is the applicable local currency. The functional currency is translated into U.S. dollars for balance sheet accounts using current exchange rates in effect as of the balance sheet date and for revenue and expense accounts using a weighted-average exchange rate during the fiscal year. The translation adjustments are deferred as a component of other comprehensive income within the consolidated statements of comprehensive income and the consolidated statements of shareholders’ equity. Gains or losses resulting from transactions denominated in foreign currencies are included in other income, net in the consolidated statements of earnings. The Company sells products to an international distributor in Germany at prices denominated in Euros. As a result, the Company is exposed to foreign exchange movements during the time between the shipment of the product and payment. The Company currently has terms of net 60 days with this distributor under the agreement providing for payment in Euros. Comprehensive Earnings The components of comprehensive earnings are net earnings and the effects of foreign currency translation adjustments. The accumulated other comprehensive earnings for the foreign currency translation adjustment at December 31, 2015 and 2014 was ($1,186,000) and ($725,000), respectively. Fair Value of Financial Instruments The carrying amount for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximates fair value due to the immediate or short-term maturity of these financial instruments. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of deferred tax assets and liabilities, as well as other amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents The Company classifies all highly liquid investments with initial maturities of three months at the date of purchase or less as cash equivalents. Cash equivalents consist of cash and money market funds and are stated at cost, which approximates market value. The Company deposits its cash in high quality financial institutions. The balances, at times, may exceed federally insured limits. Credit Risk and Allowance for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. This allowance is regularly evaluated by the Company for adequacy by taking into consideration factors such as past experience, credit quality of the customer base, age of the receivable balances, both individually and in the aggregate, and current economic conditions that may affect a customer’s ability to pay. Accounts receivable over 60 days past due are considered past due. The Company does not accrue interest on past due accounts receivable. Receivables are written off only after all collection attempts have failed and are based on individual credit evaluation and the specific circumstances of the customer. At December 31, 2015 and 2014, the allowance for doubtful accounts was $285,000 and $220,000, respectively. All product returns must be pre-approved and, if approved, customers are subject to a 20% restocking charge. The Company analyzes the rate of historical returns when evaluating the adequacy of the allowance for sales returns, which is included with the allowance for doubtful accounts on its balance sheet. At December 31, 2015 and 2014, the sales and return allowance was $75,000 and $80,000, respectively. Accounts receivable are shown net of the combined total of the allowance for doubtful accounts and allowance for sales returns of $360,000 and $300,000 at December 31, 2015 and 2014, respectively. Inventories Inventories are stated at the lower of cost (weighted average first-in, first-out method) or market. Appropriate consideration is given to deterioration, obsolescence and other factors in evaluating net realizable value. Inventories are comprised of the following at December 31: 2015 2014 (in thousands) Raw materials $ 10,760 $ 8,251 Work-in-process 1,789 1,139 Finished goods 9,556 6,518 $ 22,105 $ 15,908 Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets as follows: Manufacturing equipment 1 to 10 years Office and computer equipment 1 to 5 years Furniture and fixtures 3 to 8 years Leasehold improvements Shorter of useful life or remaining term of the lease Research and development equipment 2 to 7 years Building improvements 1 to 30 years Building 30 years Impairment of Long-Lived Assets The Company will record impairment losses on long-lived assets when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amount. The amount of impairment loss recorded will be measured as the amount by which the carrying value of the assets exceeds the fair value of the assets. To date, the Company has determined that no impairment of long-lived assets exists. Revenue Recognition In the United States, the Company sells its products and services directly to hospitals and clinics. Revenue is recognized in accordance with generally accepted accounting principles as outlined in Accounting Standards Codification (“ASC”) 605-10-S99, Revenue Recognition In all international markets, the Company sells its products to international distributors which subsequently resell the products to hospitals and clinics. The Company has agreements with each of its distributors that provide that title and risk of loss pass to the distributor upon shipment of the products to the distributor. The Company warrants that its products are free from manufacturing defects at the time of shipment to the distributor. Revenue is recognized upon shipment of products to distributors following the receipt and acceptance of a distributor’s purchase order and is reported on a gross basis. Allowances are provided for estimated returns and costs at the time of shipment. Sales and use taxes are reported on a net basis, excluding them from revenue. The Company’s revenues from license agreements and research collaborations are recognized when earned (see Note 13). In accordance with ASC 605, for revenues which contain multiple deliverables, the Company separates the deliverables into separate accounting units if they meet the following criteria: (i) the delivered items have a stand-alone value to the customer; (ii) the fair value of any undelivered items can be reliably determined; and (iii) if the arrangement includes a general right of return, delivery of the undelivered items is probable and substantially controlled by the seller. Deliverables that do not meet these criteria are combined with one or more other deliverables into one accounting unit. Revenue from each accounting unit is recognized based on the applicable accounting literature, primarily ASC 605. The Company currently has a license agreement with King Pharmaceuticals, Inc. (King), now a subsidiary of Pfizer, Inc., under which the Company licensed the exclusive rights of Thrombi-Pad™, Thrombi-Gel ® Starting in January 2012, the Company began to generate revenue from selling a reprocessing service for ClosureFAST radiofrequency catheters. In accordance with ASC 605-45, the Company recognizes this revenue gross, with the amount paid to the supplier of the reprocessing service reflected as cost of sales. In addition, the Company has reviewed the provisions of ASC 808, Collaborative Arrangements Shipping and Handling Costs In accordance with the ASC 605-45-45, the Company includes shipping and handling revenues in net revenue and shipping and handling costs in cost of goods sold. Research and Development Costs All research and development costs are charged to operations as incurred. Warranty Costs Certain of the Company’s products are covered by warranties against defects in material and workmanship for periods of up to 24 months. The Company records a liability for warranty claims at the time of sale. The amount of the liability is based on the amount the Company is charged from its original equipment manufacturer to cover the warranty period. The original equipment manufacturers include a one year warranty with each product sold to the Company. The Company records a liability for the uncovered warranty period offered to a customer, provided the warranty period offered exceeds the initial one year warranty period covered by the original equipment manufacturers. Each of the Company’s manufacturer’s warranties covers the first year of service and as a result the Company’s exposure to uncovered warranty periods was minimal at December 31, 2015. Warranty provisions and claims for the years ended December 31, 2015, 2014 and 2013, were as follows: 2015 2014 2013 (in thousands) Beginning balance $ 19 $ 23 $ 29 Warranty provisions 75 63 69 Warranty claims (76 ) (67 ) (75 ) Ending balance $ 18 $ 19 $ 23 Advertising Costs The Company follows the policy of charging production costs of advertising to expense as incurred. Advertising expense was $129,000, $127,000 and $119,000 for the years ended December 31, 2015, 2014 and 2013, respectively. Stock-Based Compensation The Company has various types of stock-based compensation plans. These plans are administered by the Compensation Committee of the Board of Directors, which selects persons to receive awards and determines the number of shares subject to each award and the terms, conditions, performance measures and other provisions of the award. Refer to Notes 7 and 8 for additional information related to these stock-based compensation plans. 2015 2014 2013 (in thousands) Stock-based compensation included in: Cost of goods sold $ 355 $ 282 $ 196 Research and development 551 493 373 Clinical and regulatory 399 363 322 Sales and marketing 830 901 858 General and administrative 1,991 1,843 1,594 $ 4,126 $ 3,882 $ 3,343 The Company uses the Black-Scholes option-pricing model to estimate fair value of stock-based awards with the following weighted average assumptions: 2015 2014 2013 Employee Stock Purchase Plan: Expected life (years) 2.0 2.0 2.0 Expected volatility 35 % 27 % 29 % Dividend yield 0 % 0 % 0 % Risk-free interest rate 0.64 % 0.44 % 0.32 % Restricted stock awards fair value is calculated as the market price on the date of grant for the years ended December 31, 2015, 2014 and 2013 and the fair value is amortized on a straight-line basis over the requisite service period of four or nine years for employee awards and one year for board of director awards. The weighted average fair value of restricted stock awards granted during 2015, 2014 and 2013 was $28.38, $24.24, and $16.31, respectively. There were no stock option grants during 2015, 2014 and 2013. The Company calculates expected volatility for stock options and awards using historical volatility over a period most closely associated with the expected life of the stock option or award. The Company uses a 10% forfeiture rate for key employees and a 15% forfeiture rate for non-key employees for stock options and awards. The Company calculates expected volatility for employee stock purchase plan shares using historical volatility over a two-year period. A two-year period is used to coincide with the maximum two-year offering period under the employee stock purchase plan. The risk-free rates for the expected terms of the stock options and awards and the employee stock purchase plan is based on the U.S. Treasury yield curve in effect at the time of grant. Income Taxes Income taxes are accounted for under the liability method. Deferred income taxes are provided for temporary differences between the financial reporting and the tax bases of assets and liabilities. Deferred tax assets are reduced by a valuation allowance to the extent that realization of the related deferred tax asset is not assured. If the Company determines in the future that it is more likely than not that the Company will realize all or a portion of the deferred tax assets, the Company will adjust the valuation allowance in the period the determination is made (see Note 6). When tax returns are filed, it is highly likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than-not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company has recorded ASC 740, Income Taxes Net Earnings Per Common Share In accordance with ASC 260, Earnings Per Share The number of shares used in earnings per share computations is as follows for the years ended December 31: 2015 2014 2013 Weighted average common shares outstanding— basic 17,103,613 16,891,643 16,412,322 Effect of dilutive securities 944,048 818,919 612,768 Weighted average common shares outstanding— diluted 18,047,661 17,710,562 17,025,090 The above table related to the weighted average common shares outstanding basic, excludes unvested restricted stock awards of 215,114, 264,298 and 317,072 for the years ended December 31, 2015, 2014 and 2013, respectively. The effect of dilutive securities in the above table excludes no options for which the exercise price was higher than the average market price for the three years ended December 31, 2015, 2014 and 2013, respectively. Goodwill and Other Intangible Assets Goodwill is reviewed for impairment annually on December 31 st Other intangible assets consist of purchased technology, trademark/tradename, developed technology, customer relationships and purchased licenses. The Company reviewed intangible assets for impairment as changes in circumstances or the occurrence of events suggested the remaining value was not recoverable. Amortization on the intangibles is provided on a straight-line basis over the estimated useful lives of the assets as follows: Trademark/tradename 10 to 11 years Purchased and developed technology 9 to 11 years Customer relationships 9 years Licenses 5 to 10 years Leases and Deferred Rent On March 2, 2015, the Company closed on the purchase of a manufacturing and office building containing approximately 26,000 square feet located adjacent to the Company’s primary manufacturing facility. On December 1, 2014, the Company closed on the purchase of its primary manufacturing facility containing 79,000 square-feet. This building was leased by the Company prior to the purchase. On November 30, 2012, the Company closed on the purchase of an office building located next to its primary manufacturing facility. The Company occupies approximately 50,000 square feet of the building and leases the remaining 26,000 square feet of the building to third-party tenants. During the years ended December 31, 2015 and 2014, the Company leased additional warehouse and manufacturing space. Leases are accounted for under the provisions of ASC 840, Leases Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued guidance creating ASC 606, “ Revenue from Contracts with Customers. Revenue Recognition The Company will adopt the new provisions of this accounting standard at the beginning of fiscal year 2018. The Company does not expect adoption will have a material impact on the consolidated financial statements. In November 2015 the FASB issued Accounting Standards Update (ASU) 2015-17, Income Taxes (Topic 740) Related to the Balance Sheet Classification of Deferred Taxes In July 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-11, Inventory (Topic 330) Related to Simplifying the Measurement of Inventory Reclassification Certain prior period disclosures have been reclassified to conform to current year presentation. These reclassifications are considered immaterial.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2015
Goodwill and Other Intangible Assets [Abstract]
Goodwill and Other Intangible Assets	3. Goodwill and Other Intangible Assets The Company acquired trademark/tradename, developed technology and customer relationships most recently from the following companies: · Accumed Systems, Inc. (Accumed) in June 2012, · St. Jude Medical in August 2012, and · Shepherd Scientific, Inc. (Shepherd Scientific) in December 2012 The Company is amortizing these intangibles over their useful lives of 9 to 11 years. The goodwill acquired in the same transactions will not be amortized. In January 2012, the Company acquired the rights, patents and intellectual property relating to a two-lumen catheter for distal protection and material extraction used in the Company’s Pronto catheters. In September 2013, the Company entered into a services agreement with Northeast Scientific, Inc. to obtain FDA approval for reprocessing another medical device (see Note 14). Amortization expense was $1,615,000, $1,642,000 and $1,572,000 for the years ended December 31, 2015, 2014 and 2013, respectively. Balances of acquired intangible assets as of December 31, 2015 were as follows: Carrying Amount Accumulated Amortization Net (in thousands) Amortizing intangibles: Purchased and developed technology $ 8,140 $ 3,996 $ 4,144 Purchased licenses 5,050 2,020 3,030 Trademark / tradename 2,210 960 1,250 Customer relationships 640 276 364 Foreign currency translation adjustments (352 ) (9 ) (343 ) $ 15,688 $ 7,243 $ 8,445 Balances of acquired intangible assets as of December 31, 2014 were as follows: Carrying Amount Accumulated Amortization Net (in thousands) Amortizing intangibles: Purchased and developed technology $ 8,140 $ 3,216 $ 4,924 Purchased licenses 5,050 1,515 3,535 Trademark / tradename 2,210 806 1,404 Customer relationships 640 204 436 Foreign currency translation adjustments (190 ) (55 ) (135 ) $ 15,850 $ 5,686 $ 10,164 Based on the intangibles assets as of December 31, 2015, future amortization expense will be as follows: (in thousands) 2016 $ 1,817 2017 1,644 2018 1,644 2019 1,352 2020 1,059 Thereafter 929 $ 8,445 The following table provides a summary of additions and disposals of goodwill for each reporting period: ( in thousands) Balance at December 31, 2013 $ 10,532 Foreign currency translation adjustments (273 ) Balance at December 31, 2014 $ 10,259 Foreign currency translation adjustments (214 ) Balance at December 31, 2015 $ 10,045

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	4. Property, Plant and Equipment Property, plant and equipment consist of the following at December 31: 2015 2014 Plant and equipment: (in thousands) Manufacturing equipment $ 16,555 $ 13,198 Buildings 10,715 9,930 Office and computer equipment 4,576 3,647 Research and development equipment 4,532 3,404 Building improvements 4,353 790 Leasehold improvements 2,585 2,526 Construction-in-process 2,051 2,212 Furniture and fixtures 1,665 1,146 47,032 36,853 Less accumulated depreciation and amortization (19,688 ) (16,389 ) Net plant and equipment 27,344 20,464 Land 7,164 5,201 Net property, plant and equipment $ 34,508 $ 25,665

Leases

Leases	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Leases	5. Leases The Company leases two buildings in Minnesota totaling approximately 58,000 square-feet under operating leases. One lease in Minnesota, for 26,000 square-feet, expires in December 2016 and the Company does not intend to renew it. The second lease in Minnesota, for 32,000 square-feet, continues to remain in effect through October 2020. The Company also leases one building in Ireland, totaling approximately 5,000 square feet, which continues to remain in effect until July 2020. Rent expense related to the operating leases was approximately $270,000, $1,010,000 and $1,350,000 for the years ended December 31, 2015, 2014, and 2013, respectively. Future minimum lease commitments under the operating leases as of December 31, 2015 are as follows: (in thousands) 2016 $ 486 2017 214 2018 218 2019 222 2020 171 $ 1,311

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Income Taxes	6. Income Taxes At December 31, 2015, the Company had recorded the following components of deferred taxes with a finite life: 2015 Expiration Date (in thousands) Federal and Minnesota research and development tax credit carryforwards $ 1,750 Beginning in 2016 The Company has recorded an allowance of approximately $1,092,000 relating to those research and development tax credit carryforwards expected to expire prior to utilization. The Company is subject to income tax in numerous jurisdictions and at various rates and the use of estimates is required in determining the provision for income taxes. For the year ended December 31, 2015, the Company recorded tax expense of $3,177,000 on earnings before tax of $13,641,000 resulting in an effective income tax rate of 23%. For the year ended December 31, 2015, income before taxes relating to U.S. operations was $13,185,000, while income from foreign operations was $456,000. For the year ended December 31, 2014, the Company recorded tax expense of $7,178,000 on earnings before tax of $19,912,000 resulting in an effective income tax rate of 36%. For the year ended December 31, 2014, income before taxes relating to U.S. operations was $19,488,000, while income from foreign operations was $424,000. For the year ended December 31, 2013, the Company recorded tax expense of $4,941,000 on earnings before tax of $16,083,000 resulting in an effective income tax rate of 31%. For the year ended December 31, 2013, income before taxes relating to U.S. operations was $16,080,000, while income before taxes from foreign operations was $3,000. The Company is subject to income tax examinations in the U.S. Federal jurisdiction, as well as in the Republic of Ireland and various state jurisdictions. U.S. Federal and state tax years that remain open to examination at December 31, 2015 are 2013 through 2015. A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows: (in thousands) Balance at December 31, 2013 $ 1,268 Increases as a result of tax positions taken during a prior period 87 Increases as a result of tax positions taken during the current period 97 Reductions as a result of lapse of the applicable statute of limitations (32 ) Decreases as a result of state credits expected to expire unutilized (158 ) Balance at December 31, 2014 $ 1,262 Increases as a result of tax positions taken during a prior period - Increases as a result of tax positions taken during the current period 277 Reductions as a result of lapse of the applicable statute of limitations (17 ) Reductions as a result of completing federal and state tax examinations (959 ) Decreases as a result of state credits expected to expire unutilized (184 ) Balance at December 31, 2015 $ 379 A significant portion of the total of $379,000 relates to unrecognized tax benefits related to research and development credit carryforwards. Therefore, $72,000 has been reflected as a reduction of the related research and development credit carryforward deferred tax asset. The components of the Company’s deferred tax assets and liabilities as of December 31, 2015 and 2014 are as follows: 2015 2014 (in thousands) Deferred tax assets: Stock-based compensation $ 2,454 $ 2,322 Accrued compensation 1,554 636 Research and development (R&D) credit carryforwards 1,750 2,681 Federal and state AMT credits 991 993 Depreciation and amortization 759 158 Net operating loss carryforwards 512 471 Inventory reserve 267 522 Deferred revenue 75 154 Foreign operations net operating loss carryforwards and timing differences 46 53 Other 169 104 Gross deferred tax assets 8,577 8,094 Deferred tax liability relating to depreciation and amortization (2,340 ) (803 ) Net deferred taxes assets before reserve for uncertain tax positions and valuation allowances 6,237 7,291 Reserve for uncertain tax positions (72 ) (346 ) Less valuation allowances (1,440 ) (1,173 ) Net deferred tax assets $ 4,725 $ 5,772 2015 2014 Deferred taxes recorded on the balance sheet: Deferred tax assets – U.S. $ 4,797 $ 5,814 Deferred tax liabilities – Foreign 72 42 Net deferred tax assets $ 4,725 $ 5,772 The Company regularly assesses the likelihood that the deferred tax assets will be recovered from future taxable earnings. At December 31, 2015 and 2014, the valuation allowance was $1,440,000 and $1,173,000, respectively. The increase (decrease) in the valuation allowance was $267,000, $1,029,000, and ($1,290,000) for the years ended December 31, 2015, 2014 and 2013, respectively. For the year ended December 31, 2014, based upon the Company’s assessment of all available evidence, including estimates of future profitability, the Company’s overall prospects of future business and the apportionment of the Company’s income to the State of Minnesota based on current apportionment methods, the Company determined that it is more likely than not that the Company will not be able to realize all remaining deferred tax assets relating to the Minnesota research and development credits and the Minnesota net operating loss carryforwards prior to their expirations. As a result, the Company recorded additional income tax expense of $867,000 during the third quarter ended September 30, 2014 as a discrete adjustment to the valuation allowance for its deferred tax assets. The Company continues to assess the potential realization of deferred tax assets on a quarterly basis. If the Company’s actual results and updated projections vary significantly from the projections used as a basis for this determination, the Company may need to increase or decrease the valuation allowance against the gross deferred tax assets. The Company does not anticipate the total unrecognized tax benefits will change significantly prior to December 31, 2016. The Company will adjust earnings for the deferred tax in the period in which the determination is made. For the years ended December 31, 2015, 2014 and 2013, the Company recorded stock option and employee stock purchase plan tax benefits against “additional paid-in capital” and reduced taxes payable by a corresponding amount of $942,000, $1,823,000 and $2,084,000, respectively. Reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows: 2015 2014 2013 U.S. tax at federal statutory rate 35.0 % 35.0 % 34.0 % State income taxes, net of federal benefit 2.1 2.8 4.4 Permanent differences – (1.3 ) (0.8 ) Change in valuation reserve 1.9 4.0 0.2 R&D credits generated (7.2 ) (2.4 ) (4.2 ) Reserve for uncertain tax positions 0.5 (1.8 ) 0.9 Foreign operations tax rate difference (0.9 ) (0.8 ) (0.5 ) Release of R&D credit reserves following federal examinations (7.0 ) – – Disallowed federal R&D credits – – (1.9 ) Marginal rate versus effective rate differential (0.7 ) – – Other adjustments (0.4 ) 0.5 (1.0 ) Effective income tax rate 23.3 % 36.0 % 31.1 % 2015 2014 2013 Current taxes 19.3 % 29.6 % 26.8 % Deferred taxes 7.7 9.9 6.6 Benefit from foreign operation tax rates (0.9 ) (0.8 ) (0.5 ) Benefit from domestic manufacturers deduction (2.8 ) (2.7 ) (1.8 ) Effective income tax rate 23.3 % 36.0 % 31.1 %

Stock Options and Restricted Sh

Stock Options and Restricted Shares	12 Months Ended
	Dec. 31, 2015
Stock Options and Restricted Shares [Abstract]
Stock Options and Restricted Shares	7. Stock Options and Restricted Shares Stock Option and Stock Award Plan The Company has a stock option and stock award plan (the Stock Option Plan) that provides for the granting of stock options, restricted shares and stock appreciation rights to employees, directors, and consultants. Incentive stock options may be granted only to employees of the Company. Options that do not qualify as incentive stock options and awards of restricted shares may be granted to both employees and to non-employee directors and consultants. As of December 31, 2015, the Company had reserved 5,500,000 shares of common stock under the Stock Option Plan. Under the Stock Option Plan, stock options must be granted at an exercise price not less than the fair market value of the Company’s common stock on the grant date. Vesting requirements of all awards under this plan are time based and vary by individual grant. The options expire on the date determined by the Board of Directors, but may not extend more than 10 years from the grant date. The incentive stock options generally become exercisable over a four-year period and the nonqualified stock options generally become exercisable over a one-year period. Vested and unexercised options are canceled three-months after termination, and unvested awards are canceled on the date of termination of employment and become available under the Stock Option Plan for future grants. Prior to 2013, the Company granted annual stock options to its directors under the Stock Option Plan. The ten-year options issued to the Company’s directors vested over a one-year period based on the continuation of service as a director of the Company. The Company used a 0% forfeiture rate for all director options granted. In January 2012, the Company granted stock options to the chief executive officer under the Stock Option Plan. The ten-year options issued to the Company’s chief executive officer vest over five successive one-year periods based on the continuation of service with the Company and contain a $1 per share escalation in the exercise price each year. The Company used a 0% forfeiture rate for this option grant. Option activity is summarized as follows: Shares Available for Grant (less restricted Plan Options Exercise Weighted Average Exercise Aggregate Intrinsic shares issued) Outstanding Price Price Value Balance at December 31, 2012 1,927,000 1,143,000 $ 0.78–$15.03 $ 10.38 Shares reserved 500,000 – – – Granted – – – – Exercised – (354,000 ) 0.78– 11.72 7.86 Forfeited – – – – Expired 1,000 (1,000 ) 0.84– 5.74 5.38 Balance at December 31, 2013 2,428,000 788,000 $ 6.36–$15.03 $ 11.52 Shares reserved – – – – Granted – – – – Exercised – (102,000 ) 6.74– 10.89 9.52 Forfeited – – – – Expired 4,000 (4,000 ) 6.74– 10.10 8.61 Balance at December 31, 2014 2,432,000 682,000 $ 6.36–$15.03 $ 11.84 Shares reserved – – – – Granted – – – – Exercised – (52,000 ) 6.36– 9.88 8.04 Forfeited – – – – Expired 7,000 (7,000 ) 8.90– 10.28 9.45 Balance at December 31, 2015 2,439,000 623,000 $ 6.36–$15.03 $ 12.18 $ 13,823,000 Exercisable at December 31, 2015 443,000 $ 11.22 $ 10,248,000 The shares available for grant number disclosed in the table above includes 1,698,000 common shares that have been issued in the form of restricted shares. The restricted shares issued reduce the number of common shares available for the grant of future stock awards, which is limited to 741,000 common shares. The weighted average remaining contractual term of options exercisable at December 31, 2015, was 5.4 years. The total intrinsic value of options exercised during fiscal 2015, 2014 and 2013, was $1,249,000, $1,595,000 and $3,057,000, respectively. The following table summarizes information about stock options outstanding at December 31, 2015: Options Outstanding Options Exercisable Range of Exercise Prices Outstanding as of December 31, 2015 Weighted Average Remaining Contractual Life Weighted Average Exercise Price Exercisable as of December 31, 2015 Weighted Average Exercise Price $ 6.36–$ 9.58 53,000 2.1 $ 7.40 53,000 $ 7.40 9.59– 10.98 40,000 4.3 9.95 40,000 9.95 10.99– 11.72 170,000 5.9 11.33 170,000 11.33 11.73– 12.03 90,000 6.1 12.03 90,000 12.03 12.04– 13.03 90,000 6.1 13.03 90,000 13.03 13.04– 15.03 180,000 6.1 14.53 – – 623,000 5.6 $ 12.18 443,000 $ 11.22 As of December 31, 2015, there was $445,000 of total unrecognized compensation costs related to the outstanding stock options, which is expected to be recognized over a weighted average period of 0.6 years. The holder of a restricted share award is generally entitled at all times on and after the date of issuance of the restricted shares to exercise the rights of a shareholder of the Company, including the right to vote the shares and the right to receive dividends on the shares. These shareholders do not have the ability to sell, transfer or otherwise encumber the restricted share awards until they fully vest. During 2015, 2014 and 2013, the Company granted restricted shares to directors and employees under the Stock Option Plan. The restricted shares granted to employees of the Company vest over a four-year or nine-year period based on the continuation of employment. The restricted shares granted to the Company’s director’s vest over a one-year period based on the continuation of service as a director. Restricted share activity is summarized as follows: Shares Outstanding Weighted Average Grant Date Fair Value Balance at December 31, 2012 613,000 $ 10.39 Granted 199,000 16.31 Vested (208,000 ) 9.96 Forfeited (16,000 ) 11.22 Balance at December 31, 2013 588,000 $ 12.52 Granted 175,000 24.24 Vested (247,000 ) 11.00 Forfeited (9,000 ) 17.23 Balance at December 31, 2014 507,000 $ 17.24 Granted 134,000 28.38 Vested (216,000 ) 14.01 Forfeited (9,000 ) 23.41 Balance at December 31, 2015 416,000 $ 22.37 As of December 31, 2015, there was $2,701,000 of total unrecognized compensation costs related to the outstanding restricted shares, which is expected to be recognized over a weighted average period of 1.6 years. The Company estimates the forfeiture rate for restricted stock using 0% for directors, 10% for key employees and 15% for non-key employees.

Employee Stock Purchase Plan

Employee Stock Purchase Plan	12 Months Ended
	Dec. 31, 2015
Employee Stock Purchase Plan [Abstract]
Employee Stock Purchase Plan	8. Employee Stock Purchase Plan The Company has an Employee Stock Purchase Plan (the Purchase Plan) under which 2,700,000 shares of common stock have been reserved for issuance. Eligible employees may contribute 1% to 10% of their compensation to purchase shares of the Company’s common stock at a discount of 15% of the market value at certain plan-defined dates, up to a maximum of 2,000 shares per purchasing period. The Purchase Plan terminates in April 2020. In fiscal 2015, 2014 and 2013, 89,200 shares, 103,500 shares, and 124,100 shares, respectively, were issued under the Purchase Plan. At December 31, 2015, 772,000 shares were available for issuance under the Purchase Plan. As of December 31, 2015, there was $549,000 of total unrecognized compensation costs related to the Purchase Plan, which is expected to be recognized over a weighted average period of 0.8 years.

Employee Retirement Savings Pla

Employee Retirement Savings Plan	12 Months Ended
	Dec. 31, 2015
Employee Retirement Savings Plan [Abstract]
Employee Retirement Savings Plan	9. Employee Retirement Savings Plan The Company has an employee 401(k) retirement savings plan (the Plan). The Plan provides eligible employees with an opportunity to make tax-deferred contributions into a long-term investment and savings program. All employees over the age of 21 are eligible to participate in the Plan beginning with the first quarterly open enrollment date following start of employment. The Plan allows eligible employees to contribute up to 50% of their annual compensation, subject to a maximum limit determined by the Internal Revenue Service, with the Company contributing an amount equal to 25% of the first 10% contributed to the Plan. The Company recorded an expense of $484,000, $408,000 and $243,000 for contributions to the Plan for the years ended December 31, 2015, 2014, and 2013, respectively.

Concentrations of Credit and Ot

Concentrations of Credit and Other Risks	12 Months Ended
	Dec. 31, 2015
Concentrations of Credit and Other Risks [Abstract]
Concentrations of Credit and Other Risks	10. Concentrations of Credit and Other Risks In the United States, the Company sells its products directly to hospitals and clinics. In all international markets, the Company sells its products to distributors who, in turn, sell to hospitals and clinics. Loss, termination, or ineffectiveness of distributors to effectively promote the Company’s product could have a material adverse effect on the Company’s financial condition and results of operations. No customer represented more than 10% of total revenue for any year ended December 31, 2015, 2014 or 2013. No foreign country represents more than 10% of total revenue for any year ended December 31, 2015, 2014 or 2013. The Company performs credit evaluations of its customers and does not require collateral to extend credit to an account. No customer represented more than 10% of gross accounts receivable at December 31, 2015 or 2014. There have been no material losses on customer receivables. There is no concentration of long-lived assets in foreign countries. Sales by geographic location are based on the location of the customer. Product revenue by geographic destination as a percentage of total product revenues were as follows for the years ended December 31: 2015 2014 2013 Domestic 79 % 82 % 85 % Foreign 21 18 15

Related Party Activity

Related Party Activity	12 Months Ended
	Dec. 31, 2015
Related Party Activity [Abstract]
Related Party Activity	11. Related Party Activity During the years ended December 31, 2015, 2014 and 2013, the Company sold $311,000, $311,000 and $361,000, respectively, of product to a company of which a board member of the Company is an officer. As of December 31, 2015 and 2014, the Company had an accounts receivable balance due of $-0- and $35,000, respectively, from this related party. In addition, the Company purchases product from this related party. During the years ended December 31, 2015, 2014 and 2013, the Company purchased $21,000, $18,000 and $10,000, respectively, of product from this related party. As of both December 31, 2015 and 2014, the Company had an accounts payable balance due of $-0- to this related party.

Dependence on Key Suppliers

Dependence on Key Suppliers	12 Months Ended
	Dec. 31, 2015
Dependence on Key Suppliers [Abstract]
Dependence on Key Suppliers	12. Dependence on Key Suppliers King Pharmaceuticals The Company purchases certain key components from single-source suppliers. Any significant component delay or interruption could require the Company to qualify new sources of supply, if available, and could have a material adverse effect on the Company’s financial condition and results of operations. The Company purchases its requirements for thrombin (a component in the Hemostat products) under a Thrombin-JMI Supply Agreement entered into with King Pharmaceuticals, Inc. (King) on January 9, 2007. King was acquired by Pfizer, Inc. on February 28, 2011. Under the terms of the Thrombin-JMI Supply Agreement, King agrees to manufacture and supply thrombin to the Company on a non-exclusive basis. The Thrombin-JMI Supply Agreement does not contain any minimum purchase requirements. King agrees to supply the Company with such quantity of thrombin as the Company may order at a fixed price throughout the term of the Thrombin-JMI Supply Agreement as adjusted for inflation, variations in potency and other factors. The Thrombin-JMI Supply Agreement has an initial term of 10 years, followed by successive automatic one-year extensions, subject to termination by the parties under certain circumstances, including: (i) termination by King without cause any time after the fifth anniversary of the date of the Thrombin-JMI Supply Agreement upon five years prior written notice to the Company, and (ii) termination by the Company without cause any time after the fifth anniversary of the date of the Thrombin-JMI Supply Agreement upon five years prior written notice to King provided that the Device Supply Agreement, which the Company also entered into with King on January 9, 2007, has expired on its terms or the parties have agreed to terminate it.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies All legal cost related to litigation are charged to operations as incurred, except settlements which are expensed when a claim is probable and estimable. Boston Scientific Corporation Litigation On May 16, 2013, the Company filed a patent infringement complaint in the United States District Court for the District of Minnesota against Boston Scientific Corporation (Boston Scientific). The complaint alleged that Boston Scientific infringed three of the Company’s patents concerning rapid exchange guide extension technology by manufacturing and selling its Guidezilla™ guide extension catheter. On July 11, 2013, Boston Scientific filed its answer and counterclaim, alleging the Company’s patents are invalid, that the Guidezilla catheter does not infringe, and that the Company’s manufacture and sale of its GuideLiner catheter violates a U.S. patent owned by Boston Scientific that expired in June 2013. On July 30, 2014, the Company agreed with Boston Scientific to settle the patent lawsuit and counterclaim. As part of the settlement agreement, all litigation relating to guide extension was dismissed and the Company will receive an ongoing royalty from Boston Scientific in exchange for a license of the Company’s patents. The terms of the settlement agreement are confidential. Governmental Proceedings On June 28, 2011, the Company received a subpoena from the U.S. Attorney’s Office for the Western District of Texas under the Health Insurance Portability & Accountability Act of 1996 (HIPAA) requesting the production of documents related to Vari-Lase products, and in particular the use of the Vari-Lase Short Kit for the treatment of perforator veins. Subsequently, the Company learned that the U.S. Attorney’s Office also had commenced a criminal investigation of the same matter. The Vari-Lase Short Kit was sold under a 510(k) clearance for the treatment of incompetence and reflux of superficial veins in the lower extremity from 2007 until it was voluntarily withdrawn from the market in July 2014 with total U.S. sales of approximately $534,000 (0.1% of the Company’s total U.S. sales for such period) and has not been the subject of any reported serious adverse clinical event. On August 14, 2012, the United States District Court for the Western District of Texas unsealed a qui tam On November 13, 2014, a criminal indictment was issued in the United States District Court for the Western District of Texas related to the Vari-Lase Short Kit investigation. The original indictment alleged that the Company and its Chief Executive Officer introduced adulterated and misbranded medical devices into interstate commerce and conspired to introduce adulterated and misbranded medical devices into interstate commerce through the alleged off-label promotion of the Vari-Lase Short Kit. On December 2, 2015, a superseding indictment was issued that removed the allegations related to introducing adulterated medical devices. The Company believes the remaining allegations are false and intends to contest them vigorously. Defending the Company against the indictment will entail costs that are expected to be material and will require significant attention from the Company’s management. If the Company were to be convicted of the crimes alleged in the indictment, remedies could include fines, penalties, forfeitures and compliance conditions. The Company cannot estimate the amount or range of loss if the Company were to be convicted; however, it would likely be material. If the Company were to be convicted of a crime related to the delivery of an item or service under Title XVIII of the Social Security Act, or a felony related to health care fraud, it would become automatically excluded by the Department of Health and Human Services (“HHS”) from participation in U.S. government health care programs, including Medicare and Medicaid. If the Company were to be convicted of a misdemeanor related to health care fraud, it could be immediately excluded by HHS from participation in U.S. government health care programs, including Medicare and Medicaid. Exclusion from participation in U.S. government health care programs would prevent the Company from continuing to sell its products in the U.S., and thereby would seriously damage the Company’s ability to continue to conduct its business. Conviction of the Company’s chief executive officer of a crime under statutes related to misbranding and health care fraud could require the termination of his employment with the Company. From time to time, the Company is involved in additional legal proceedings arising in the normal course of business. As of the date of this report the Company is not a party to any legal proceeding not described in this Note in which an adverse outcome would reasonably be expected to have a material adverse effect on the Company’s results of operations or financial condition. King Agreements On January 9, 2007, the Company entered into a License Agreement and a Device Supply Agreement with King (see Note 12). King was acquired by Pfizer, Inc. on February 28, 2011. Under the License Agreement, the Company licensed the exclusive rights to the Company’s products Thrombi-Pad, Thrombi-Gel and Thrombi-Paste to King in exchange for a one-time license fee. Under the Device Supply Agreement, the Company agreed to manufacture the licensed products for sale to King in exchange for an initial payment. The unamortized license fee was $201,000, $406,000, and $610,000 at December 31, 2015, 2014 and 2013, respectively. Amortization of the deferred revenue will be $204,000 per year for the remainder of the 10-year license period. The amortization of license fee was $205,000, $204,000, and $205,000 for the years ended December 31, 2015, 2014 and 2013, respectively. Nicolai, GmbH Agreement Effective April 1, 2008, the Company entered into a five-year distribution agreement with Nicolai GmbH. In connection with this distribution agreement, the Company received 500,000 Euros from Nicolai GmbH, which was deferred and was being recognized ratably over the five-year term of the distribution agreement. The agreement included provisions requiring the Company to pay Nicolai GmbH specific amounts if the Company terminated the distribution agreement prior to the end of the five-year term. The Company did not terminate the distribution agreement prior to the termination date. The unamortized license fee was $-0- at December 31, 2015, 2014 and 2013, respectively. The amortization of license fee was $-0-, $-0-, and $36,000 for the years ended December 31, 2015, 2014 and 2013, respectively. Stock Repurchase Plan On November 14, 2014, the Company’s Board of Directors approved a Common Stock Repurchase Plan (the “Repurchase Plan”), which provides the option to repurchase shares of the Company’s common stock with a maximum purchase price of $20,000,000 on the open market at market prices through September 30, 2016. During the years ended December 31, 2015 and December 31, 2014, the Company repurchased a total of -0- common shares and 33,401 common shares at an average price of $24.52 under the plan, respectively.

Asset Acquisition

Asset Acquisition	12 Months Ended
	Dec. 31, 2015
Asset Acquisition [Abstract]
Asset Acquisition	14. Asset Acquisition Northeast Scientific On September 17, 2013, the Company entered into an eight-year reprocessing services agreement with Northeast Scientific, Inc. (NES), a FDA-registered reprocessor of medical devices, whereby the Company paid NES a non-refundable amount of $500,000 for the exclusive right to offer NES’ reprocessing services in the United States for a commercial medical device. NES is pursuing FDA approval for its reprocessing services for the device. If FDA approval is obtained, the Company is required to pay NES a non-refundable amount of $400,000. The agreement has an annual minimum unit termination clause, allowing NES to terminate the agreement if the Company does not meet certain annual minimums following FDA approval. The Company has accounted for the transaction as a non-business asset acquisition in the third quarter of 2013. In accordance with ASC 805, the purchase price of $900,000 was assigned to an intangible and no goodwill was recognized. The Company recorded a $400,000 accrual in the third quarter of 2013 in addition to the $500,000 payment, and since FDA approval has not occurred, $400,000 remains in accruals at both December 31, 2015 and 2014. The Company will begin amortizing the intangible asset on a per unit basis over the remaining term of the agreement once the Company begins to send units to NES to be reprocessed following FDA approval.

Quarterly Financial Data (unaud

Quarterly Financial Data (unaudited, in thousands, except per share data)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Data (unaudited, in thousands, except per share data) [Abstract]
Quarterly Financial Data (unaudited, in thousands, except per share data)	15. Quarterly Financial Data (unaudited, in thousands, except per share data) 2015 Fourth Quarter Third Quarter Second Quarter First Quarter Net revenue: Product $ 37,950 $ 36,827 $ 37,398 $ 34,441 License, royalty & collaboration 135 127 152 170 Total net revenue 38,085 36,954 37,550 34,611 Selected costs and expenses: Costs of goods sold 12,814 12,133 12,660 11,296 Operating earnings 160 4,368 5,648 3,423 Net earnings 1,557 2,973 3,727 2,207 Basic net earnings per share $ 0.09 $ 0.17 $ 0.22 $ 0.13 Diluted net earnings per share $ 0.09 $ 0.16 $ 0.21 $ 0.12 2014 Fourth Quarter Third Quarter Second Quarter First Quarter Net revenue: Product $ 33,449 $ 31,766 $ 30,606 $ 29,845 License 137 163 71 62 Total net revenue 33,586 31,929 30,677 29,907 Selected costs and expenses: Costs of goods sold 11,542 10,291 10,283 9,583 Operating earnings 5,312 5,213 5,031 4,371 Net earnings 4,160 2,570 3,205 2,799 Basic net earnings per share $ 0.24 $ 0.15 $ 0.19 $ 0.17 Diluted net earnings per share $ 0.23 $ 0.15 $ 0.18 $ 0.16

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events The Company has evaluated subsequent events occurring after the date of the consolidated financial statements for events requiring recording or disclosure in the financial statements.

SCHEDULE II VALUATION AND QUALI

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2015
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS [Abstract]
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013 Description Balance at Beginning of Year Additions Charged to Costs and Expenses Less Deductions Balance at End of Year (in thousands) YEAR ENDED DECEMBER 31, 2015: Sales return allowance $ 80 $ 35 $ (40 ) $ 75 Allowance for doubtful accounts 220 285 (220 ) 285 Tax valuation allowance 1,173 284 (17 ) 1,440 Total $ 1,473 $ 604 $ (277 ) $ 1,800 YEAR ENDED DECEMBER 31, 2014: Sales return allowance $ 50 $ 65 $ (35 ) $ 80 Allowance for doubtful accounts 150 185 (115 ) 220 Tax valuation allowance 144 1,061 (32 ) 1,173 Total $ 344 $ 1,311 $ (182 ) $ 1,473 YEAR ENDED DECEMBER 31, 2013: Sales return allowance $ 55 $ 20 $ (25 ) $ 50 Allowance for doubtful accounts 130 90 (70 ) 150 Tax valuation allowance 1,434 53 (1,343 ) 144 Total $ 1,619 $ 163 $ (1,438 ) $ 344

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of Vascular Solutions, Inc. and its wholly-owned subsidiary Vascular Solutions Zerusa Limited, after elimination of intercompany accounts and transactions.
Segment Reporting	Segment Reporting The Company’s chief operating decision maker ("CODM") is its Chief Executive Officer. A business segment is a distinguishable component of an enterprise that is engaged in providing an individual product or service or a group of related products or services and that is subject to risks and returns that are different from those of other business segments. The Company’s segments have similar economic characteristics and are similar in the nature of the products sold, type of customers, methods used to distribute the Company’s products and regulatory environment. Management believes that the Company meets the criteria for aggregating its operating segments into a single reporting segment. The following tables set forth, for the periods indicated, net revenue by product line along with the percentage change from the previous period for each of the Company’s top products by net revenue: Year ended December 31, 2015 2014 2013 Product Primary Market Net Revenue Percent Change Net Revenue Percent Change Net Revenue (dollars in thousands) GuideLiner Interventional cardiology $ 45,409 43 % $ 31,836 53 % $ 20,782 Pronto catheters Interventional cardiology 14,970 (17 %) 17,998 (11 %) 20,272 Vein catheter reprocessing Phlebology 12,602 23 % 10,207 24 % 8,204 Micro-introducer kits Interventional radiology 12,337 18 % 10,416 17 % 8,894 Hemostatic patches Interventional cardiology 11,998 (3 %) 12,416 (5 %) 13,068 Radial access products Interventional cardiology 7,436 27 % 5,839 34 % 4,347 Langston catheters Interventional cardiology 6,590 8 % 6,109 6 % 5,781 D-Stat Flowable hemostat Electrophysiology 5,322 (3 %) 5,462 (4 %) 5,697
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions The functional currency of the company's foreign operations is the applicable local currency. The functional currency is translated into U.S. dollars for balance sheet accounts using current exchange rates in effect as of the balance sheet date and for revenue and expense accounts using a weighted-average exchange rate during the fiscal year. The translation adjustments are deferred as a component of other comprehensive income within the consolidated statements of comprehensive income and the consolidated statements of shareholders’ equity. Gains or losses resulting from transactions denominated in foreign currencies are included in other income, net in the consolidated statements of earnings. The Company sells products to an international distributor in Germany at prices denominated in Euros. As a result, the Company is exposed to foreign exchange movements during the time between the shipment of the product and payment. The Company currently has terms of net 60 days with this distributor under the agreement providing for payment in Euros.
Comprehensive Earnings	Comprehensive Earnings The components of comprehensive earnings are net earnings and the effects of foreign currency translation adjustments. The accumulated other comprehensive earnings for the foreign currency translation adjustment at December 31, 2015 and 2014 was ($1,186,000) and ($725,000), respectively.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amount for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximates fair value due to the immediate or short-term maturity of these financial instruments.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of deferred tax assets and liabilities, as well as other amounts in the financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company classifies all highly liquid investments with initial maturities of three months at the date of purchase or less as cash equivalents. Cash equivalents consist of cash and money market funds and are stated at cost, which approximates market value. The Company deposits its cash in high quality financial institutions. The balances, at times, may exceed federally insured limits.
Credit Risk and Allowance for Doubtful Accounts	Credit Risk and Allowance for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. This allowance is regularly evaluated by the Company for adequacy by taking into consideration factors such as past experience, credit quality of the customer base, age of the receivable balances, both individually and in the aggregate, and current economic conditions that may affect a customer’s ability to pay. Accounts receivable over 60 days past due are considered past due. The Company does not accrue interest on past due accounts receivable. Receivables are written off only after all collection attempts have failed and are based on individual credit evaluation and the specific circumstances of the customer. At December 31, 2015 and 2014, the allowance for doubtful accounts was $285,000 and $220,000, respectively. All product returns must be pre-approved and, if approved, customers are subject to a 20% restocking charge. The Company analyzes the rate of historical returns when evaluating the adequacy of the allowance for sales returns, which is included with the allowance for doubtful accounts on its balance sheet. At December 31, 2015 and 2014, the sales and return allowance was $75,000 and $80,000, respectively. Accounts receivable are shown net of the combined total of the allowance for doubtful accounts and allowance for sales returns of $360,000 and $300,000 at December 31, 2015 and 2014, respectively.
Inventories	Inventories Inventories are stated at the lower of cost (weighted average first-in, first-out method) or market. Appropriate consideration is given to deterioration, obsolescence and other factors in evaluating net realizable value. Inventories are comprised of the following at December 31: 2015 2014 (in thousands) Raw materials $ 10,760 $ 8,251 Work-in-process 1,789 1,139 Finished goods 9,556 6,518 $ 22,105 $ 15,908
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets as follows: Manufacturing equipment 1 to 10 years Office and computer equipment 1 to 5 years Furniture and fixtures 3 to 8 years Leasehold improvements Shorter of useful life or remaining term of the lease Research and development equipment 2 to 7 years Building improvements 1 to 30 years Building 30 years
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company will record impairment losses on long-lived assets when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amount. The amount of impairment loss recorded will be measured as the amount by which the carrying value of the assets exceeds the fair value of the assets. To date, the Company has determined that no impairment of long-lived assets exists.
Revenue Recognition	Revenue Recognition In the United States, the Company sells its products and services directly to hospitals and clinics. Revenue is recognized in accordance with generally accepted accounting principles as outlined in Accounting Standards Codification (“ASC”) 605-10-S99, Revenue Recognition In all international markets, the Company sells its products to international distributors which subsequently resell the products to hospitals and clinics. The Company has agreements with each of its distributors that provide that title and risk of loss pass to the distributor upon shipment of the products to the distributor. The Company warrants that its products are free from manufacturing defects at the time of shipment to the distributor. Revenue is recognized upon shipment of products to distributors following the receipt and acceptance of a distributor’s purchase order and is reported on a gross basis. Allowances are provided for estimated returns and costs at the time of shipment. Sales and use taxes are reported on a net basis, excluding them from revenue. The Company’s revenues from license agreements and research collaborations are recognized when earned (see Note 13). In accordance with ASC 605, for revenues which contain multiple deliverables, the Company separates the deliverables into separate accounting units if they meet the following criteria: (i) the delivered items have a stand-alone value to the customer; (ii) the fair value of any undelivered items can be reliably determined; and (iii) if the arrangement includes a general right of return, delivery of the undelivered items is probable and substantially controlled by the seller. Deliverables that do not meet these criteria are combined with one or more other deliverables into one accounting unit. Revenue from each accounting unit is recognized based on the applicable accounting literature, primarily ASC 605. The Company currently has a license agreement with King Pharmaceuticals, Inc. (King), now a subsidiary of Pfizer, Inc., under which the Company licensed the exclusive rights of Thrombi-Pad™, Thrombi-Gel ® Starting in January 2012, the Company began to generate revenue from selling a reprocessing service for ClosureFAST radiofrequency catheters. In accordance with ASC 605-45, the Company recognizes this revenue gross, with the amount paid to the supplier of the reprocessing service reflected as cost of sales. In addition, the Company has reviewed the provisions of ASC 808, Collaborative Arrangements
Shipping and Handling Costs	Shipping and Handling Costs In accordance with the ASC 605-45-45, the Company includes shipping and handling revenues in net revenue and shipping and handling costs in cost of goods sold.
Research and Development Costs	Research and Development Costs All research and development costs are charged to operations as incurred.
Warranty Costs	Warranty Costs Certain of the Company’s products are covered by warranties against defects in material and workmanship for periods of up to 24 months. The Company records a liability for warranty claims at the time of sale. The amount of the liability is based on the amount the Company is charged from its original equipment manufacturer to cover the warranty period. The original equipment manufacturers include a one year warranty with each product sold to the Company. The Company records a liability for the uncovered warranty period offered to a customer, provided the warranty period offered exceeds the initial one year warranty period covered by the original equipment manufacturers. Each of the Company’s manufacturer’s warranties covers the first year of service and as a result the Company’s exposure to uncovered warranty periods was minimal at December 31, 2015. Warranty provisions and claims for the years ended December 31, 2015, 2014 and 2013, were as follows: 2015 2014 2013 (in thousands) Beginning balance $ 19 $ 23 $ 29 Warranty provisions 75 63 69 Warranty claims (76 ) (67 ) (75 ) Ending balance $ 18 $ 19 $ 23
Advertising Costs	Advertising Costs The Company follows the policy of charging production costs of advertising to expense as incurred. Advertising expense was $129,000, $127,000 and $119,000 for the years ended December 31, 2015, 2014 and 2013, respectively.
Stock-Based Compensation	Stock-Based Compensation The Company has various types of stock-based compensation plans. These plans are administered by the Compensation Committee of the Board of Directors, which selects persons to receive awards and determines the number of shares subject to each award and the terms, conditions, performance measures and other provisions of the award. Refer to Notes 7 and 8 for additional information related to these stock-based compensation plans. 2015 2014 2013 (in thousands) Stock-based compensation included in: Cost of goods sold $ 355 $ 282 $ 196 Research and development 551 493 373 Clinical and regulatory 399 363 322 Sales and marketing 830 901 858 General and administrative 1,991 1,843 1,594 $ 4,126 $ 3,882 $ 3,343 The Company uses the Black-Scholes option-pricing model to estimate fair value of stock-based awards with the following weighted average assumptions: 2015 2014 2013 Employee Stock Purchase Plan: Expected life (years) 2.0 2.0 2.0 Expected volatility 35 % 27 % 29 % Dividend yield 0 % 0 % 0 % Risk-free interest rate 0.64 % 0.44 % 0.32 % Restricted stock awards fair value is calculated as the market price on the date of grant for the years ended December 31, 2015, 2014 and 2013 and the fair value is amortized on a straight-line basis over the requisite service period of four or nine years for employee awards and one year for board of director awards. The weighted average fair value of restricted stock awards granted during 2015, 2014 and 2013 was $28.38, $24.24, and $16.31, respectively. There were no stock option grants during 2015, 2014 and 2013. The Company calculates expected volatility for stock options and awards using historical volatility over a period most closely associated with the expected life of the stock option or award. The Company uses a 10% forfeiture rate for key employees and a 15% forfeiture rate for non-key employees for stock options and awards. The Company calculates expected volatility for employee stock purchase plan shares using historical volatility over a two-year period. A two-year period is used to coincide with the maximum two-year offering period under the employee stock purchase plan. The risk-free rates for the expected terms of the stock options and awards and the employee stock purchase plan is based on the U.S. Treasury yield curve in effect at the time of grant.
Income Taxes	Income Taxes Income taxes are accounted for under the liability method. Deferred income taxes are provided for temporary differences between the financial reporting and the tax bases of assets and liabilities. Deferred tax assets are reduced by a valuation allowance to the extent that realization of the related deferred tax asset is not assured. If the Company determines in the future that it is more likely than not that the Company will realize all or a portion of the deferred tax assets, the Company will adjust the valuation allowance in the period the determination is made (see Note 6). When tax returns are filed, it is highly likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than-not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company has recorded ASC 740, Income Taxes
Net Earnings Per Common Share	Net Earnings Per Common Share In accordance with ASC 260, Earnings Per Share The number of shares used in earnings per share computations is as follows for the years ended December 31: 2015 2014 2013 Weighted average common shares outstanding— basic 17,103,613 16,891,643 16,412,322 Effect of dilutive securities 944,048 818,919 612,768 Weighted average common shares outstanding— diluted 18,047,661 17,710,562 17,025,090 The above table related to the weighted average common shares outstanding basic, excludes unvested restricted stock awards of 215,114, 264,298 and 317,072 for the years ended December 31, 2015, 2014 and 2013, respectively. The effect of dilutive securities in the above table excludes no options for which the exercise price was higher than the average market price for the three years ended December 31, 2015, 2014 and 2013, respectively.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill is reviewed for impairment annually on December 31 st Other intangible assets consist of purchased technology, trademark/tradename, developed technology, customer relationships and purchased licenses. The Company reviewed intangible assets for impairment as changes in circumstances or the occurrence of events suggested the remaining value was not recoverable. Amortization on the intangibles is provided on a straight-line basis over the estimated useful lives of the assets as follows: Trademark/tradename 10 to 11 years Purchased and developed technology 9 to 11 years Customer relationships 9 years Licenses 5 to 10 years
Leases and Deferred Rent	Leases and Deferred Rent On March 2, 2015, the Company closed on the purchase of a manufacturing and office building containing approximately 26,000 square feet located adjacent to the Company’s primary manufacturing facility. On December 1, 2014, the Company closed on the purchase of its primary manufacturing facility containing 79,000 square-feet. This building was leased by the Company prior to the purchase. On November 30, 2012, the Company closed on the purchase of an office building located next to its primary manufacturing facility. The Company occupies approximately 50,000 square feet of the building and leases the remaining 26,000 square feet of the building to third-party tenants. During the years ended December 31, 2015 and 2014, the Company leased additional warehouse and manufacturing space. Leases are accounted for under the provisions of ASC 840, Leases
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued guidance creating ASC 606, “ Revenue from Contracts with Customers. Revenue Recognition The Company will adopt the new provisions of this accounting standard at the beginning of fiscal year 2018. The Company does not expect adoption will have a material impact on the consolidated financial statements. In November 2015 the FASB issued Accounting Standards Update (ASU) 2015-17, Income Taxes (Topic 740) Related to the Balance Sheet Classification of Deferred Taxes In July 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-11, Inventory (Topic 330) Related to Simplifying the Measurement of Inventory
Reclassification	Reclassification Certain prior period disclosures have been reclassified to conform to current year presentation. These reclassifications are considered immaterial.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Net Revenue by Product Category	The following tables set forth, for the periods indicated, net revenue by product line along with the percentage change from the previous period for each of the Company’s top products by net revenue: Year ended December 31, 2015 2014 2013 Product Primary Market Net Revenue Percent Change Net Revenue Percent Change Net Revenue (dollars in thousands) GuideLiner Interventional cardiology $ 45,409 43 % $ 31,836 53 % $ 20,782 Pronto catheters Interventional cardiology 14,970 (17 %) 17,998 (11 %) 20,272 Vein catheter reprocessing Phlebology 12,602 23 % 10,207 24 % 8,204 Micro-introducer kits Interventional radiology 12,337 18 % 10,416 17 % 8,894 Hemostatic patches Interventional cardiology 11,998 (3 %) 12,416 (5 %) 13,068 Radial access products Interventional cardiology 7,436 27 % 5,839 34 % 4,347 Langston catheters Interventional cardiology 6,590 8 % 6,109 6 % 5,781 D-Stat Flowable hemostat Electrophysiology 5,322 (3 %) 5,462 (4 %) 5,697
Inventory	Inventories are comprised of the following at December 31: 2015 2014 (in thousands) Raw materials $ 10,760 $ 8,251 Work-in-process 1,789 1,139 Finished goods 9,556 6,518 $ 22,105 $ 15,908
Property, Plant and Equipment	Property, plant and equipment are stated at cost. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets as follows: Manufacturing equipment 1 to 10 years Office and computer equipment 1 to 5 years Furniture and fixtures 3 to 8 years Leasehold improvements Shorter of useful life or remaining term of the lease Research and development equipment 2 to 7 years Building improvements 1 to 30 years Building 30 years
Warranty Provisions and Claims	Warranty provisions and claims for the years ended December 31, 2015, 2014 and 2013, were as follows: 2015 2014 2013 (in thousands) Beginning balance $ 19 $ 23 $ 29 Warranty provisions 75 63 69 Warranty claims (76 ) (67 ) (75 ) Ending balance $ 18 $ 19 $ 23
Share-based Compensation Expense	The following amounts have been recognized as stock-based compensation expense in the Consolidated Statements of Operations: 2015 2014 2013 (in thousands) Stock-based compensation included in: Cost of goods sold $ 355 $ 282 $ 196 Research and development 551 493 373 Clinical and regulatory 399 363 322 Sales and marketing 830 901 858 General and administrative 1,991 1,843 1,594 $ 4,126 $ 3,882 $ 3,343
Share-based Payment Award, Stock Options, Valuation Assumptions	The Company uses the Black-Scholes option-pricing model to estimate fair value of stock-based awards with the following weighted average assumptions: 2015 2014 2013 Employee Stock Purchase Plan: Expected life (years) 2.0 2.0 2.0 Expected volatility 35 % 27 % 29 % Dividend yield 0 % 0 % 0 % Risk-free interest rate 0.64 % 0.44 % 0.32 %
Weighted Average Number of Shares in Earnings Per Share Computations	The number of shares used in earnings per share computations is as follows for the years ended December 31: 2015 2014 2013 Weighted average common shares outstanding— basic 17,103,613 16,891,643 16,412,322 Effect of dilutive securities 944,048 818,919 612,768 Weighted average common shares outstanding— diluted 18,047,661 17,710,562 17,025,090
Estimated Useful Life of Intangible Assets	Amortization on the intangibles is provided on a straight-line basis over the estimated useful lives of the assets as follows: Trademark/tradename 10 to 11 years Purchased and developed technology 9 to 11 years Customer relationships 9 years Licenses 5 to 10 years

Goodwill and Other Intangible28

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Other Intangible Assets [Abstract]
Acquired Intangible Assets	Balances of acquired intangible assets as of December 31, 2015 were as follows: Carrying Amount Accumulated Amortization Net (in thousands) Amortizing intangibles: Purchased and developed technology $ 8,140 $ 3,996 $ 4,144 Purchased licenses 5,050 2,020 3,030 Trademark / tradename 2,210 960 1,250 Customer relationships 640 276 364 Foreign currency translation adjustments (352 ) (9 ) (343 ) $ 15,688 $ 7,243 $ 8,445 Balances of acquired intangible assets as of December 31, 2014 were as follows: Carrying Amount Accumulated Amortization Net (in thousands) Amortizing intangibles: Purchased and developed technology $ 8,140 $ 3,216 $ 4,924 Purchased licenses 5,050 1,515 3,535 Trademark / tradename 2,210 806 1,404 Customer relationships 640 204 436 Foreign currency translation adjustments (190 ) (55 ) (135 ) $ 15,850 $ 5,686 $ 10,164
Expected Amortization Expense	Based on the intangibles assets as of December 31, 2015, future amortization expense will be as follows: (in thousands) 2016 $ 1,817 2017 1,644 2018 1,644 2019 1,352 2020 1,059 Thereafter 929 $ 8,445
Goodwill	The following table provides a summary of additions and disposals of goodwill for each reporting period: ( in thousands) Balance at December 31, 2013 $ 10,532 Foreign currency translation adjustments (273 ) Balance at December 31, 2014 $ 10,259 Foreign currency translation adjustments (214 ) Balance at December 31, 2015 $ 10,045

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following at December 31: 2015 2014 Plant and equipment: (in thousands) Manufacturing equipment $ 16,555 $ 13,198 Buildings 10,715 9,930 Office and computer equipment 4,576 3,647 Research and development equipment 4,532 3,404 Building improvements 4,353 790 Leasehold improvements 2,585 2,526 Construction-in-process 2,051 2,212 Furniture and fixtures 1,665 1,146 47,032 36,853 Less accumulated depreciation and amortization (19,688 ) (16,389 ) Net plant and equipment 27,344 20,464 Land 7,164 5,201 Net property, plant and equipment $ 34,508 $ 25,665

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Future Minimum Rental Payments for Operating Leases	Future minimum lease commitments under the operating leases as of December 31, 2015 are as follows: (in thousands) 2016 $ 486 2017 214 2018 218 2019 222 2020 171 $ 1,311

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Deferred Taxes with Finite Lives	At December 31, 2015, the Company had recorded the following components of deferred taxes with a finite life: 2015 Expiration Date (in thousands) Federal and Minnesota research and development tax credit carryforwards $ 1,750 Beginning in 2016
Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows: (in thousands) Balance at December 31, 2013 $ 1,268 Increases as a result of tax positions taken during a prior period 87 Increases as a result of tax positions taken during the current period 97 Reductions as a result of lapse of the applicable statute of limitations (32 ) Decreases as a result of state credits expected to expire unutilized (158 ) Balance at December 31, 2014 $ 1,262 Increases as a result of tax positions taken during a prior period - Increases as a result of tax positions taken during the current period 277 Reductions as a result of lapse of the applicable statute of limitations (17 ) Reductions as a result of completing federal and state tax examinations (959 ) Decreases as a result of state credits expected to expire unutilized (184 ) Balance at December 31, 2015 $ 379
Deferred Tax Assets and Liabilities	The components of the Company’s deferred tax assets and liabilities as of December 31, 2015 and 2014 are as follows: 2015 2014 (in thousands) Deferred tax assets: Stock-based compensation $ 2,454 $ 2,322 Accrued compensation 1,554 636 Research and development (R&D) credit carryforwards 1,750 2,681 Federal and state AMT credits 991 993 Depreciation and amortization 759 158 Net operating loss carryforwards 512 471 Inventory reserve 267 522 Deferred revenue 75 154 Foreign operations net operating loss carryforwards and timing differences 46 53 Other 169 104 Gross deferred tax assets 8,577 8,094 Deferred tax liability relating to depreciation and amortization (2,340 ) (803 ) Net deferred taxes assets before reserve for uncertain tax positions and valuation allowances 6,237 7,291 Reserve for uncertain tax positions (72 ) (346 ) Less valuation allowances (1,440 ) (1,173 ) Net deferred tax assets $ 4,725 $ 5,772 2015 2014 Deferred taxes recorded on the balance sheet: Deferred tax assets – U.S. $ 4,797 $ 5,814 Deferred tax liabilities – Foreign 72 42 Net deferred tax assets $ 4,725 $ 5,772
Effective Income Tax Rate Reconciliation	Reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows: 2015 2014 2013 U.S. tax at federal statutory rate 35.0 % 35.0 % 34.0 % State income taxes, net of federal benefit 2.1 2.8 4.4 Permanent differences – (1.3 ) (0.8 ) Change in valuation reserve 1.9 4.0 0.2 R&D credits generated (7.2 ) (2.4 ) (4.2 ) Reserve for uncertain tax positions 0.5 (1.8 ) 0.9 Foreign operations tax rate difference (0.9 ) (0.8 ) (0.5 ) Release of R&D credit reserves following federal examinations (7.0 ) – – Disallowed federal R&D credits – – (1.9 ) Marginal rate versus effective rate differential (0.7 ) – – Other adjustments (0.4 ) 0.5 (1.0 ) Effective income tax rate 23.3 % 36.0 % 31.1 % 2015 2014 2013 Current taxes 19.3 % 29.6 % 26.8 % Deferred taxes 7.7 9.9 6.6 Benefit from foreign operation tax rates (0.9 ) (0.8 ) (0.5 ) Benefit from domestic manufacturers deduction (2.8 ) (2.7 ) (1.8 ) Effective income tax rate 23.3 % 36.0 % 31.1 %

Stock Options and Restricted 32

Stock Options and Restricted Shares (Tables)	12 Months Ended
	Dec. 31, 2015
Stock Options and Restricted Shares [Abstract]
Option Activity	Option activity is summarized as follows: Shares Available for Grant (less restricted Plan Options Exercise Weighted Average Exercise Aggregate Intrinsic shares issued) Outstanding Price Price Value Balance at December 31, 2012 1,927,000 1,143,000 $ 0.78–$15.03 $ 10.38 Shares reserved 500,000 – – – Granted – – – – Exercised – (354,000 ) 0.78– 11.72 7.86 Forfeited – – – – Expired 1,000 (1,000 ) 0.84– 5.74 5.38 Balance at December 31, 2013 2,428,000 788,000 $ 6.36–$15.03 $ 11.52 Shares reserved – – – – Granted – – – – Exercised – (102,000 ) 6.74– 10.89 9.52 Forfeited – – – – Expired 4,000 (4,000 ) 6.74– 10.10 8.61 Balance at December 31, 2014 2,432,000 682,000 $ 6.36–$15.03 $ 11.84 Shares reserved – – – – Granted – – – – Exercised – (52,000 ) 6.36– 9.88 8.04 Forfeited – – – – Expired 7,000 (7,000 ) 8.90– 10.28 9.45 Balance at December 31, 2015 2,439,000 623,000 $ 6.36–$15.03 $ 12.18 $ 13,823,000 Exercisable at December 31, 2015 443,000 $ 11.22 $ 10,248,000
Stock Options Outstanding	The following table summarizes information about stock options outstanding at December 31, 2015: Options Outstanding Options Exercisable Range of Exercise Prices Outstanding as of December 31, 2015 Weighted Average Remaining Contractual Life Weighted Average Exercise Price Exercisable as of December 31, 2015 Weighted Average Exercise Price $ 6.36–$ 9.58 53,000 2.1 $ 7.40 53,000 $ 7.40 9.59– 10.98 40,000 4.3 9.95 40,000 9.95 10.99– 11.72 170,000 5.9 11.33 170,000 11.33 11.73– 12.03 90,000 6.1 12.03 90,000 12.03 12.04– 13.03 90,000 6.1 13.03 90,000 13.03 13.04– 15.03 180,000 6.1 14.53 – – 623,000 5.6 $ 12.18 443,000 $ 11.22
Restricted Share Activity	Restricted share activity is summarized as follows: Shares Outstanding Weighted Average Grant Date Fair Value Balance at December 31, 2012 613,000 $ 10.39 Granted 199,000 16.31 Vested (208,000 ) 9.96 Forfeited (16,000 ) 11.22 Balance at December 31, 2013 588,000 $ 12.52 Granted 175,000 24.24 Vested (247,000 ) 11.00 Forfeited (9,000 ) 17.23 Balance at December 31, 2014 507,000 $ 17.24 Granted 134,000 28.38 Vested (216,000 ) 14.01 Forfeited (9,000 ) 23.41 Balance at December 31, 2015 416,000 $ 22.37

Concentrations of Credit and 33

Concentrations of Credit and Other Risks (Tables)	12 Months Ended
	Dec. 31, 2015
Concentrations of Credit and Other Risks [Abstract]
Product Revenue by Geographic Destination as a Percentage of Total Product Revenues	Product revenue by geographic destination as a percentage of total product revenues were as follows for the years ended December 31: 2015 2014 2013 Domestic 79 % 82 % 85 % Foreign 21 18 15

Quarterly Financial Data (una34

Quarterly Financial Data (unaudited, in thousands, except per share data) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Data (unaudited, in thousands, except per share data) [Abstract]
Quarterly Financial Data	2015 Fourth Quarter Third Quarter Second Quarter First Quarter Net revenue: Product $ 37,950 $ 36,827 $ 37,398 $ 34,441 License, royalty & collaboration 135 127 152 170 Total net revenue 38,085 36,954 37,550 34,611 Selected costs and expenses: Costs of goods sold 12,814 12,133 12,660 11,296 Operating earnings 160 4,368 5,648 3,423 Net earnings 1,557 2,973 3,727 2,207 Basic net earnings per share $ 0.09 $ 0.17 $ 0.22 $ 0.13 Diluted net earnings per share $ 0.09 $ 0.16 $ 0.21 $ 0.12 2014 Fourth Quarter Third Quarter Second Quarter First Quarter Net revenue: Product $ 33,449 $ 31,766 $ 30,606 $ 29,845 License 137 163 71 62 Total net revenue 33,586 31,929 30,677 29,907 Selected costs and expenses: Costs of goods sold 11,542 10,291 10,283 9,583 Operating earnings 5,312 5,213 5,031 4,371 Net earnings 4,160 2,570 3,205 2,799 Basic net earnings per share $ 0.24 $ 0.15 $ 0.19 $ 0.17 Diluted net earnings per share $ 0.23 $ 0.15 $ 0.18 $ 0.16

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Product Information [Line Items]
Total net revenue	$ 38,085,000	$ 36,954,000	$ 37,550,000	$ 34,611,000	$ 33,586,000	$ 31,929,000	$ 30,677,000	$ 29,907,000	$ 147,200,000	$ 126,099,000	$ 110,498,000
Statement of Other Comprehensive Income [Abstract]
Foreign currency translation adjustment									$ (1,186,000)	(725,000)
Credit Risk and Allowance for Doubtful Accounts
Number of days before considered past due									60 days
Restocking charge									20.00%
Allowance for doubtful accounts	285,000				220,000				$ 285,000	220,000
Sales and return allowance									75,000	80,000
Allowance for doubtful accounts and sales returns	360,000				300,000				360,000	300,000
Inventories [Abstract]
Raw materials	10,760,000				8,251,000				10,760,000	8,251,000
Work in process	1,789,000				1,139,000				1,789,000	1,139,000
Finished goods	9,556,000				6,518,000				9,556,000	6,518,000
Total inventory	$ 22,105,000				$ 15,908,000				$ 22,105,000	15,908,000
GuideLiner Catheters [Member]
Product Information [Line Items]
Class of primary market description									Interventional cardiology
Total net revenue									$ 45,409,000	$ 31,836,000	20,782,000
Total revenue, percentage change									43.00%	53.00%
Pronto Catheters [Member]
Product Information [Line Items]
Class of primary market description									Interventional cardiology
Total net revenue									$ 14,970,000	$ 17,998,000	20,272,000
Total revenue, percentage change									(17.00%)	(11.00%)
Vein Catheter Reprocessing [Member]
Product Information [Line Items]
Class of primary market description									Phlebology
Total net revenue									$ 12,602,000	$ 10,207,000	8,204,000
Total revenue, percentage change									23.00%	24.00%
Micro-Introducer Kits [Member]
Product Information [Line Items]
Class of primary market description									Interventional radiology
Total net revenue									$ 12,337,000	$ 10,416,000	8,894,000
Total revenue, percentage change									18.00%	17.00%
Hemostatic Patches [Member]
Product Information [Line Items]
Class of primary market description									Interventional cardiology
Total net revenue									$ 11,998,000	$ 12,416,000	13,068,000
Total revenue, percentage change									(3.00%)	(5.00%)
Radial Access Products [Member]
Product Information [Line Items]
Class of primary market description									Interventional cardiology
Total net revenue									$ 7,436,000	$ 5,839,000	4,347,000
Total revenue, percentage change									27.00%	34.00%
Langston Catheters [Member]
Product Information [Line Items]
Class of primary market description									Interventional cardiology
Total net revenue									$ 6,590,000	$ 6,109,000	5,781,000
Total revenue, percentage change									8.00%	6.00%
D-Stat Flowable Hemostat [Member]
Product Information [Line Items]
Class of primary market description									Electrophysiology
Total net revenue									$ 5,322,000	$ 5,462,000	$ 5,697,000
Total revenue, percentage change									(3.00%)	(4.00%)

Summary of Significant Accoun36

Summary of Significant Accounting Policies, Part Two (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Warranty costs [Abstract]
Standard product warranty timeframe	Up to 24 months
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 19,000	$ 23,000	$ 29,000
Warranty provisions	75,000	63,000	69,000
Warranty claims	(76,000)	(67,000)	(75,000)
Ending balance	18,000	19,000	23,000
Advertising Costs [Abstract]
Advertising expense	$ 129,000	$ 127,000	$ 119,000
Minimum [Member]
Revenue Recognition, Amortization of License Fee [Line Items]
Years to amortize license fees	9 years
Maximum [Member]
Revenue Recognition, Amortization of License Fee [Line Items]
Years to amortize license fees	11 years
Thrombi Pad [Member]
Revenue Recognition, Amortization of License Fee [Line Items]
Years to amortize license fees	10 years
Thrombi Paste [Member]
Revenue Recognition, Amortization of License Fee [Line Items]
Years to amortize license fees	10 years
Thrombi Gel [Member]
Revenue Recognition, Amortization of License Fee [Line Items]
Years to amortize license fees	10 years
Nicolai, GmbH [Member]
Revenue Recognition, Amortization of License Fee [Line Items]
Years to amortize license fees	5 years
Manufacturing Equipment [Member] | Minimum [Member]
Property and Equipment [Line Items]
Useful life	1 year
Manufacturing Equipment [Member] | Maximum [Member]
Property and Equipment [Line Items]
Useful life	10 years
Office and Computer Equipment [Member] | Minimum [Member]
Property and Equipment [Line Items]
Useful life	1 year
Office and Computer Equipment [Member] | Maximum [Member]
Property and Equipment [Line Items]
Useful life	5 years
Furniture and Fixtures [Member] | Minimum [Member]
Property and Equipment [Line Items]
Useful life	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property and Equipment [Line Items]
Useful life	8 years
Leasehold Improvements [Member]
Property and Equipment [Line Items]
Useful life of leasehold improvements	Shorter of useful life or remaining term of the lease
Research and Development Equipment [Member] | Minimum [Member]
Property and Equipment [Line Items]
Useful life	2 years
Research and Development Equipment [Member] | Maximum [Member]
Property and Equipment [Line Items]
Useful life	7 years
Building Improvements [Member] | Minimum [Member]
Property and Equipment [Line Items]
Useful life	1 year
Building Improvements [Member] | Maximum [Member]
Property and Equipment [Line Items]
Useful life	30 years
Building [Member]
Property and Equipment [Line Items]
Useful life	30 years

Summary of Significant Accoun37

Summary of Significant Accounting Policies, Part Three (Details)	12 Months Ended
	Dec. 31, 2015USD ($)ft²$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 4,126,000	$ 3,882,000	$ 3,343,000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 28.38	$ 24.24	$ 16.31
Expected forfeiture rate for key employees	10.00%
Expected forfeiture rate for non-key employees	15.00%
Income Tax Uncertainties [Abstract]
Unrecognized tax benefits	$ 379,000	$ 1,262,000	$ 1,268,000
Decrease in reserve for uncertain tax positions	883,000
Tax related interest expense	0
Tax related penalties expense	$ 0
Unvested restricted stock awards (in shares) | shares	215,114	264,298	317,072
Net income per share [Abstract]
Weighted average common shares outstanding - basic (in shares) | shares	17,103,613	16,891,643	16,412,322
Effect of dilutive securities (in shares) | shares	944,048	818,919	612,768
Weighted average common shares outstanding - diluted (in shares) | shares	18,047,661	17,710,562	17,025,090
Antidilutive securities excluded from computation of earnings per share (in shares) | shares	0	0	0
Leases and Deferred Rent [Abstract]
Reduction of current assets and working capital due to prior periods reclassification		$ 3,681,000
Manufacturing Facility [Member]
Leases and Deferred Rent [Abstract]
Area of the manufacturing facility | ft²	79,000
Office Building [Member]
Leases and Deferred Rent [Abstract]
Area of the manufacturing office building facility | ft²	26,000
Area occupied by the company | ft²	50,000
Area occupied by current tenants | ft²	26,000
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful lives	9 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful lives	11 years
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	2 years	2 years	2 years
Expected volatility	35.00%	27.00%	29.00%
Dividend yield	0.00%	0.00%	0.00%
Risk free interest rate	0.64%	0.44%	0.32%
Cost of Goods Sold [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 355,000	$ 282,000	$ 196,000
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	551,000	493,000	373,000
Clinical and Regulatory [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	399,000	363,000	322,000
Sales and Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	830,000	901,000	858,000
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 1,991,000	$ 1,843,000	$ 1,594,000
Trademark/Tradename [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful lives	10 years
Trademark/Tradename [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful lives	11 years
Purchased and Developed Technology [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful lives	9 years
Purchased and Developed Technology [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful lives	11 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Useful lives	9 years
Licenses [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful lives	5 years
Licenses [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful lives	10 years

Goodwill and Other Intangible38

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 1,615	$ 1,642	$ 1,572
Carrying amount	15,688	15,850
Accumulated amortization	7,243	5,686
Net	8,445	10,164
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2,016	1,817
2,017	1,644
2,018	1,644
2,019	1,352
2,020	1,059
Thereafter	929
Total	8,445	10,164
Goodwill [Abstract]
Beginning balance	10,259	10,532
Foreign currency translation adjustments	(214)	(273)
Ending balance	$ 10,045	10,259	$ 10,532
Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives	11 years
Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives	9 years
Purchased and Developed Technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying amount	$ 8,140	8,140
Accumulated amortization	3,996	3,216
Net	4,144	4,924
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Total	$ 4,144	4,924
Purchased and Developed Technology [Member] | Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives	11 years
Purchased and Developed Technology [Member] | Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives	9 years
Purchased Licenses [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying amount	$ 5,050	5,050
Accumulated amortization	2,020	1,515
Net	3,030	3,535
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Total	$ 3,030	3,535
Purchased Licenses [Member] | Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives	10 years
Purchased Licenses [Member] | Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives	5 years
Trademark/Tradename [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying amount	$ 2,210	2,210
Accumulated amortization	960	806
Net	1,250	1,404
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Total	$ 1,250	1,404
Trademark/Tradename [Member] | Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives	11 years
Trademark/Tradename [Member] | Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives	10 years
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives	9 years
Carrying amount	$ 640	640
Accumulated amortization	276	204
Net	364	436
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Total	364	436
Foreign Currency Translation Adjustments [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying amount	(352)	(190)
Accumulated amortization	(9)	(55)
Net	(343)	(135)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Total	$ (343)	$ (135)

Property, Plant and Equipment39

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property and Equipment [Line Items]
Plant and Equipment, Gross	$ 47,032	$ 36,853
Less accumulated depreciation and amortization	(19,688)	(16,389)
Net plant and equipment	27,344	20,464
Land	7,164	5,201
Net property, plant and equipment	34,508	25,665
Manufacturing Equipment [Member]
Property and Equipment [Line Items]
Plant and Equipment, Gross	16,555	13,198
Buildings [Member]
Property and Equipment [Line Items]
Plant and Equipment, Gross	10,715	9,930
Office and Computer Equipment [Member]
Property and Equipment [Line Items]
Plant and Equipment, Gross	4,576	3,647
Research and Development Equipment [Member]
Property and Equipment [Line Items]
Plant and Equipment, Gross	4,532	3,404
Building Improvements [Member]
Property and Equipment [Line Items]
Plant and Equipment, Gross	4,353	790
Leasehold Improvements [Member]
Property and Equipment [Line Items]
Plant and Equipment, Gross	2,585	2,526
Construction-in-Process [Member]
Property and Equipment [Line Items]
Plant and Equipment, Gross	2,051	2,212
Furniture and Fixtures [Member]
Property and Equipment [Line Items]
Plant and Equipment, Gross	$ 1,665	$ 1,146

Leases (Details)

Leases (Details)	12 Months Ended
	Dec. 31, 2015USD ($)ft²Building	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Leases [Abstract]
Rent expense	$ 270,000	$ 1,010,000	$ 1,350,000
Future Minimum Payments Due [Abstract]
2,016	486,000
2,017	214,000
2,018	218,000
2,019	222,000
2,020	171,000
Total	$ 1,311,000
Minnesota [Member]
Operating Leases [Line Items]
Number of buildings under lease | Building	2
Number of square-feet in the buildings under an operating lease | ft²	58,000
Ireland [Member]
Operating Leases [Line Items]
Number of buildings under lease | Building	1
Number of square-feet in the buildings under an operating lease | ft²	5,000
Expiry date of lease	Jul. 31, 2020
Lease One [Member] | Minnesota [Member]
Operating Leases [Line Items]
Number of square-feet in the buildings under an operating lease | ft²	26,000
Expiry date of lease	Dec. 31, 2016
Lease Two [Member] | Minnesota [Member]
Operating Leases [Line Items]
Number of square-feet in the buildings under an operating lease | ft²	32,000
Expiry date of lease	Oct. 31, 2020

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components of Deferred Taxes with Finite Life [Abstract]
Federal and Minnesota research and development tax credit carryforwards		$ 1,750,000
Federal and Minnesota research and development tax credit carryforwards, Earliest Expiration Date		Dec. 31, 2016
Allowance relating to research and development tax credit carryforwards		$ 1,092,000
Tax Related [Line Items]
Income tax expense		3,177,000	$ 7,178,000	$ 4,941,000
Earnings before tax		13,641,000	19,912,000	16,083,000
Increase (decrease) in valuation allowance	$ 867,000	267,000	1,029,000	(1,290,000)
Reduction of the related research and development credit carryforward deferred tax asset		72,000
Stock option and employee stock purchase plan tax benefits against "additional paid-in capital" and reduced taxes payable		942,000	1,823,000	2,084,000
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance		1,262,000	1,268,000
Increases as a result of tax positions taken during a prior period		0	87,000
Increases as a result of tax positions taken during the current period		277,000	97,000
Reductions as a result of lapse of the applicable statute of limitations		(17,000)	(32,000)
Reductions as a result of completing federal and state tax examinations		(959,000)
Decreases as a result of state credits expected to expire unutilized		(184,000)	(158,000)
Ending balance		$ 379,000	$ 1,262,000	$ 1,268,000
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
U.S. tax at federal statutory rate		35.00%	35.00%	34.00%
State income taxes, net of federal benefit		2.10%	2.80%	4.40%
Permanent differences		0.00%	(1.30%)	(0.80%)
Change in valuation reserve		1.90%	4.00%	0.20%
R&D credits generated		(7.20%)	(2.40%)	(4.20%)
Reserve for uncertain tax positions		0.50%	(1.80%)	0.90%
Foreign operations tax rate difference		(0.90%)	(0.80%)	(0.50%)
Release of R&D credit reserves following federal examinations		(7.00%)	0.00%	0.00%
Disallowed federal R&D credits at 12.31.12		0.00%	0.00%	(1.90%)
Marginal rate versus effective rate differential		(0.70%)	0.00%	0.00%
Other adjustments		(0.40%)	0.50%	(1.00%)
Effective income tax rate		23.30%	36.00%	31.10%
Current taxes		19.30%	29.60%	26.80%
Deferred taxes		7.70%	9.90%	6.60%
Benefit from foreign operation tax rates		(0.90%)	(0.80%)	(0.50%)
Benefit from domestic manufacturers deduction		(2.80%)	(2.70%)	(1.80%)
Deferred tax assets [Abstract]
Stock-based compensation		$ 2,454,000	$ 2,322,000
Accrued compensation		1,554,000	636,000
Research and development (R&D) credit carryforwards		1,750,000	2,681,000
Federal and state AMT credits		991,000	993,000
Depreciation and amortization		759,000	158,000
Net operating loss carryforwards		512,000	471,000
Inventory reserve		267,000	522,000
Deferred revenue		75,000	154,000
Foreign operations net operating loss carryforwards and timing differences		46,000	53,000
Other		169,000	104,000
Gross deferred tax assets		8,577,000	8,094,000
Deferred tax liability relating to depreciation and amortization		(2,340,000)	(803,000)
Net deferred taxes assets before reserve for uncertain tax positions and valuation allowances		6,237,000	7,291,000
Reserve for uncertain tax positions		(72,000)	(346,000)
Less valuation allowances		(1,440,000)	(1,173,000)
Net deferred tax asset		4,725,000	5,772,000
Deferred taxes recorded on the balance sheet [Abstract]
Deferred tax assets - U.S.		4,797,000	5,814,000
Deferred tax liabilities - Foreign		72,000	42,000
Net deferred tax assets		4,725,000	5,772,000
Domestic [Member]
Tax Related [Line Items]
Earnings before tax		13,185,000	19,488,000	$ 16,080,000
Foreign [Member]
Tax Related [Line Items]
Earnings before tax		$ 456,000	$ 424,000	$ 3,000

Stock Options and Restricted 42

Stock Options and Restricted Shares (Details)	12 Months Ended
	Dec. 31, 2015USD ($)Period$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for Stock Option Plan (in shares) | shares	5,500,000
Share Outstanding [Roll Forward]
Balance at beginning of period (in shares) | shares	264,298	317,072
Balance at end of period (in shares) | shares	215,114	264,298	317,072
Weighted Average Grant Date Fair Value [Roll Forward]
Granted (in dollars per share)	$ 28.38	$ 24.24	$ 16.31
Shares available for grant, balance at end of period (in shares) | shares	1,698,000
Unrecognized compensation costs for stock options | $	$ 445,000
Expected forfeiture rate for key employees	10.00%
Expected forfeiture rate for non-key employees	15.00%
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding as of end of period (in shares) | shares	623,000
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 7 months 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 12.18
Options Exercisable as of end of period (in shares) | shares	443,000
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 11.22
Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of successive periods to awards vesting | Period	5
Escalation (in dollars per share)	$ 1
$6.36 to $9.58 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in dollars per share)	6.36
Exercise price range, upper range limit (in dollars per share)	$ 9.58
Options Outstanding as of end of period (in shares) | shares	53,000
Options Outstanding, Weighted Average Remaining Contractual Life	2 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 7.40
Options Exercisable as of end of period (in shares) | shares	53,000
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 7.40
$9.59 to $10.98 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in dollars per share)	9.59
Exercise price range, upper range limit (in dollars per share)	$ 10.98
Options Outstanding as of end of period (in shares) | shares	40,000
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 3 months 18 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 9.95
Options Exercisable as of end of period (in shares) | shares	40,000
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 9.95
$10.99 to $11.72 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in dollars per share)	10.99
Exercise price range, upper range limit (in dollars per share)	$ 11.72
Options Outstanding as of end of period (in shares) | shares	170,000
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 10 months 24 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 11.33
Options Exercisable as of end of period (in shares) | shares	170,000
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 11.33
$11.73 to $12.03 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in dollars per share)	11.73
Exercise price range, upper range limit (in dollars per share)	$ 12.03
Options Outstanding as of end of period (in shares) | shares	90,000
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 12.03
Options Exercisable as of end of period (in shares) | shares	90,000
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 12.03
$12.04 to $13.03 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in dollars per share)	12.04
Exercise price range, upper range limit (in dollars per share)	$ 13.03
Options Outstanding as of end of period (in shares) | shares	90,000
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 13.03
Options Exercisable as of end of period (in shares) | shares	90,000
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 13.03
$13.04 to $15.03 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in dollars per share)	13.04
Exercise price range, upper range limit (in dollars per share)	$ 15.03
Options Outstanding as of end of period (in shares) | shares	180,000
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 14.53
Options Exercisable as of end of period (in shares) | shares	0
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 0
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Terms of award	10 years
Vesting period, incentive stock options	4 years
Award vesting period, nonqualified stock options	1 year
Number of months after employment until the options are terminated	3 months
Vesting period for options	1 year
Forfeiture rate on options granted	0.00%
Plan Options Outstanding [Roll Forward]
Balance at beginning of year (in shares) | shares	682,000	788,000	1,143,000
Shares reserved (in shares) | shares	0	0	0
Granted (in shares) | shares	0	0	0
Exercised (in shares) | shares	(52,000)	(102,000)	(354,000)
Forfeited (in shares) | shares	0	0	0
Expired (in shares) | shares	(7,000)	(4,000)	(1,000)
Balance at end of year (in shares) | shares	623,000	682,000	788,000
Weighted Average Exercise Price [Roll Forward]
Balance at beginning of year, weighted average exercise price (in dollars per share)	$ 11.84	$ 11.52	$ 10.38
Reserved, weighted average exercise price (in dollars per share)	0	0	0
Granted, weighted average exercise price (in dollars per share)	0	0	0
Exercised, weighted average exercise price (in dollars per share)	8.04	9.52	7.86
Forfeited, weighted average exercise price (in dollars per share)	0	0	0
Expired, weighted average exercise price (in dollars per share)	9.45	8.61	5.38
Balance at end of period, weighted average exercise price (in dollars per share)	$ 12.18	11.84	11.52
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding balance, aggregate intrinsic value | $	$ 13,823,000
Exercisable at end of period (in shares) | shares	443,000
Exercisable, weighted average exercise price (in dollars per share)	$ 11.22
Exercisable, intrinsic value at end of period | $	$ 10,248,000
Exercise price, reserved (in dollars per share)	$ 0	0	0
Exercise price, granted (in dollars per share)	0	0	0
Exercise price, forfeited (in dollars per share)	$ 0	$ 0	$ 0
Options, exercisable, weighted average remaining contractual term	5 years 4 months 24 days
Total intrinsic value of options exercised | $	$ 1,249,000	$ 1,595,000	$ 3,057,000
Weighted Average Grant Date Fair Value [Roll Forward]
Shares available for grant, balance at beginning (in shares) | shares	2,432,000	2,428,000	1,927,000
Shares reserved (in shares) | shares	0	0	500,000
Granted (in shares) | shares	0	0	0
Exercised (in shares) | shares	0	0	0
Forfeited (in shares) | shares	0	0	0
Expired (in shares) | shares	7,000	4,000	1,000
Shares available for grant, balance at end of period (in shares) | shares	2,439,000	2,432,000	2,428,000
Weighted average period for recognizing unrecognized compensation costs	7 months 6 days
Stock Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Exercise price, beginning balance (in dollar per share)	$ 6.36	$ 6.36	$ 0.78
Exercise price, exercised (in dollars per share)	6.36	6.74	0.78
Exercise price, expired (in dollars per share)	8.90	6.74	0.84
Exercise price, ending balance (in dollar per share)	6.36	6.36	6.36
Stock Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Exercise price, beginning balance (in dollar per share)	15.03	15.03	15.03
Exercise price, exercised (in dollars per share)	9.88	10.89	11.72
Exercise price, expired (in dollars per share)	10.28	10.10	5.74
Exercise price, ending balance (in dollar per share)	$ 15.03	$ 15.03	$ 15.03
Restricted Stock [Member]
Share Outstanding [Roll Forward]
Balance at beginning of period (in shares) | shares	507,000	588,000	613,000
Granted (in shares) | shares	134,000	175,000	199,000
Vested (in shares) | shares	(216,000)	(247,000)	(208,000)
Forfeited (in shares) | shares	(9,000)	(9,000)	(16,000)
Balance at end of period (in shares) | shares	416,000	507,000	588,000
Weighted Average Grant Date Fair Value [Roll Forward]
Balance at beginning of period (in dollars per share)	$ 17.24	$ 12.52	$ 10.39
Granted (in dollars per share)	28.38	24.24	16.31
Vested (in dollars per share)	14.01	11	9.96
Forfeited (in dollars per share)	23.41	17.23	11.22
Balance at end of period (in dollars per share)	$ 22.37	$ 17.24	$ 12.52
Shares available for grant, balance at end of period (in shares) | shares	741,000
Unrecognized compensation costs for restricted shares | $	$ 2,701,000
Weighted average period for recognizing unrecognized compensation costs	1 year 7 months 6 days
Expected forfeiture rate for directors	0.00%
Expected forfeiture rate for key employees	10.00%
Expected forfeiture rate for non-key employees	15.00%
Restricted Stock [Member] | Condition One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for options	4 years
Restricted Stock [Member] | Condition Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for options	9 years
Restricted Stock [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for options	1 year

Employee Stock Purchase Plan (D

Employee Stock Purchase Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee Stock Purchase Plan [Abstract]
Number of reserved shares (in shares)	2,700,000
Minimum percentage of compensation to contribute	1.00%
Maximum percentage of compensation to contribute	10.00%
Discount percentage of market value	15.00%
Maximum number of shares available to purchase per purchasing period, per employee (in shares)	2,000
Stock issued (in shares)	89,200	103,500	124,100
Shares available for issuance (in shares)	772,000
Aggregate compensation cost not yet recognized, ESPP	$ 549,000
Period for recognition	9 months 18 days

Employee Retirement Savings P44

Employee Retirement Savings Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee Retirement Savings Plan [Abstract]
Employees maximum contribution percentage of annual compensation	50.00%
Employer matching contribution, percent	25.00%
Maximum annual contribution per employee, matched by employer, percent	10.00%
Expense recorded	$ 484,000	$ 408,000	$ 243,000

Concentrations of Credit and 45

Concentrations of Credit and Other Risks (Details) - Product Revenue [Member]	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Domestic [Member]
Concentration Risk [Line Items]
Concentration risk	79.00%	82.00%	85.00%
Foreign [Member]
Concentration Risk [Line Items]
Concentration risk	21.00%	18.00%	15.00%

Related Party Activity (Details

Related Party Activity (Details) - Officer [Member] - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Revenue from related parties	$ 311,000	$ 311,000	$ 361,000
Accounts receivable	0	35,000
Purchases from related party	21,000	18,000	$ 10,000
Accounts payable	$ 0	$ 0

Dependence on Key Suppliers (De

Dependence on Key Suppliers (Details)	12 Months Ended
	Dec. 31, 2015
Kings Pharmaceuticals [Abstract]
Initial agreement period	10 years
Contract extension period	1 year
Period of written notice to supplier	5 years

Commitments and Contingencies (

Commitments and Contingencies (Details)	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)	Apr. 01, 2008EUR (€)
Governmental Proceedings [Abstract]
Total U.S. sales, maximum	$ 37,950,000	$ 36,827,000	$ 37,398,000	$ 34,441,000	$ 33,449,000	$ 31,766,000	$ 30,606,000	$ 29,845,000	$ 146,616,000	$ 125,666,000	$ 110,197,000
Stock Repurchase Plan [Member]
Loss Contingencies [Line Items]
Repurchase of common stock under stock repurchase agreement	20,000,000								$ 20,000,000
Repurchase of common stock under stock repurchase agreement (in shares) | shares									0	33,401
Average price per share (in dollars per share) | $ / shares										$ 24.52
Governmental Proceedings [Member]
Governmental Proceedings [Abstract]
Total U.S. sales, maximum									$ 534,000
Total U.S. sales, percentage									0.10%
Alleged damages from product defects to government									$ 20,000,000
Payment on settlement of litigation									520,000
King Agreements [Member]
Loss Contingencies [Line Items]
Unamortized license fee	201,000				406,000				$ 201,000	$ 406,000	610,000
Amortization period for license fee									10 years
Amortization of license fee									$ 205,000	204,000	205,000
Nicolai GmbH Agreement [Member]
Loss Contingencies [Line Items]
Unamortized license fee	$ 0				$ 0				$ 0	0	0	€ 500,000
Amortization period for license fee									5 years
Amortization of license fee									$ 0	$ 0	$ 36,000

Asset Acquisition (Details)

Asset Acquisition (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Purchase price allocation [Abstract]
Acquired finite-lived intangible asset, amount	$ 15,688,000	$ 15,850,000
Northeast Scientific [Member]
Purchase price allocation [Abstract]
Term of agreement	8 years
Amount paid for exclusive rights	$ 500,000
Acquired finite-lived intangible asset, amount	900,000
Amount accrued for exclusive rights	400,000
Northeast Scientific [Member] | Prior Approval [Member]
Purchase price allocation [Abstract]
Amount paid for exclusive rights	500,000
Northeast Scientific [Member] | After Approval [Member]
Purchase price allocation [Abstract]
Amount paid for exclusive rights	$ 400,000

Quarterly Financial Data (una50

Quarterly Financial Data (unaudited, in thousands, except per share data) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net revenue [Abstract]
Product	$ 37,950	$ 36,827	$ 37,398	$ 34,441	$ 33,449	$ 31,766	$ 30,606	$ 29,845	$ 146,616	$ 125,666	$ 110,197
License, royalty & collaboration	135	127	152	170	137	163	71	62	584	433	301
Total net revenue	38,085	36,954	37,550	34,611	33,586	31,929	30,677	29,907	147,200	126,099	110,498
Selected costs and expenses [Abstract]
Cost of goods sold	12,814	12,133	12,660	11,296	11,542	10,291	10,283	9,583	48,903	41,699	36,156
Operating earnings	160	4,368	5,648	3,423	5,312	5,213	5,031	4,371	13,599	19,927	16,097
Net earnings	$ 1,557	$ 2,973	$ 3,727	$ 2,207	$ 4,160	$ 2,570	$ 3,205	$ 2,799	$ 10,464	$ 12,734	$ 11,142
Basic net earnings per share (in dollars per share)	$ 0.09	$ 0.17	$ 0.22	$ 0.13	$ 0.24	$ 0.15	$ 0.19	$ 0.17	$ 0.61	$ 0.75	$ 0.68
Diluted net earnings per share (in dollars per share)	$ 0.09	$ 0.16	$ 0.21	$ 0.12	$ 0.23	$ 0.15	$ 0.18	$ 0.16	$ 0.58	$ 0.72	$ 0.65

SCHEDULE II VALUATION AND QUA51

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 1,473	$ 344	$ 1,619
Additions Charged to Costs and Expenses	604	1,311	163
Less Deductions	(277)	(182)	(1,438)
Balance at End of Year	1,800	1,473	344
Sales Return Allowance [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	80	50	55
Additions Charged to Costs and Expenses	35	65	20
Less Deductions	(40)	(35)	(25)
Balance at End of Year	75	80	50
Allowance for Doubtful Accounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	220	150	130
Additions Charged to Costs and Expenses	285	185	90
Less Deductions	(220)	(115)	(70)
Balance at End of Year	285	220	150
Tax Valuation Allowance [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	1,173	144	1,434
Additions Charged to Costs and Expenses	284	1,061	53
Less Deductions	(17)	(32)	(1,343)
Balance at End of Year	$ 1,440	$ 1,173	$ 144