Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 04, 2013 | |
Entity [Abstract] | ' | ' |
Entity Registrant Name | 'Luminex Corp | ' |
Entity Central Index Key | '0001033905 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 41,868,338 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $57,169 | $42,789 |
Short-term investments | 5,497 | 13,607 |
Accounts receivable, net | 30,210 | 33,273 |
Inventories, net | 29,742 | 29,937 |
Deferred income taxes | 1,603 | 4,783 |
Prepaids and other | 5,749 | 4,388 |
Total current assets | 129,970 | 128,777 |
Property and equipment, net | 32,788 | 26,229 |
Intangible assets, net | 61,320 | 65,218 |
Deferred income taxes | 14,462 | 14,360 |
Long-term investments | 0 | 3,000 |
Goodwill | 50,853 | 51,128 |
Other | 4,503 | 8,463 |
Total assets | 293,896 | 297,175 |
Current liabilities: | ' | ' |
Accounts payable | 9,038 | 9,650 |
Accrued liabilities | 11,756 | 12,866 |
Deferred revenue | 4,949 | 4,134 |
Current portion of long-term debt | 924 | 1,138 |
Total current liabilities | 26,667 | 27,788 |
Long-term debt | 788 | 1,702 |
Deferred revenue | 2,508 | 2,933 |
Other | 5,038 | 5,085 |
Total liabilities | 35,001 | 37,508 |
Stockholders' equity: | ' | ' |
Common stock, $.001 par value, 200,000,000 shares authorized; issued and outstanding: 41,043,801 shares at September 30, 2013; 40,824,932 shares at December 31, 2012 | 41 | 41 |
Preferred stock, $.001 par value, 5,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Additional paid-in capital | 291,156 | 293,392 |
Accumulated other comprehensive income | 585 | 1,101 |
Accumulated deficit | -32,887 | -34,867 |
Total stockholders' equity | 258,895 | 259,667 |
Total liabilities and stockholders' equity | $293,896 | $297,175 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS Parenthetical (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Stockholders' equity: | ' | ' |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 41,043,801 | 40,824,932 |
Common stock, outstanding (in shares) | 41,043,801 | 40,824,932 |
Preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Revenue | $50,780 | $50,047 | $158,267 | $147,047 |
Cost of revenue | 19,999 | 15,002 | 51,472 | 43,830 |
Gross profit | 30,781 | 35,045 | 106,795 | 103,217 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 10,346 | 11,186 | 34,852 | 31,467 |
Selling, general and administrative | 21,466 | 19,462 | 67,429 | 53,075 |
Amortization of acquired intangible assets | 1,021 | 1,030 | 3,077 | 3,214 |
Restructuring costs | 2,142 | 0 | 2,142 | 0 |
Total operating expenses | 34,975 | 31,678 | 107,500 | 87,756 |
(Loss) income from operations | -4,194 | 3,367 | -705 | 15,461 |
Interest expense from long-term debt | -16 | -40 | -67 | -162 |
Other income, net | 6,638 | 25 | 6,730 | 124 |
Income before income taxes | 2,428 | 3,352 | 5,958 | 15,423 |
Income taxes | -1,632 | -1,676 | -3,978 | -7,268 |
Net income | 796 | 1,676 | 1,980 | 8,155 |
Other comprehensive income: | ' | ' | ' | ' |
Foreign currency translation adjustments | 106 | 278 | -515 | 208 |
Unrealized gain (loss) on available-for-sale securities, net of tax | 1 | -14 | -1 | -32 |
Other comprehensive income (loss) | 107 | 264 | -516 | 176 |
Comprehensive income | $903 | $1,940 | $1,464 | $8,331 |
Net income per share, basic | $0.02 | $0.04 | $0.05 | $0.20 |
Shares used in computing net income per share, basic | 40,752 | 41,000 | 40,712 | 40,995 |
Net income per share, diluted | $0.02 | $0.04 | $0.05 | $0.19 |
Shares used in computing net income per share, diluted | 41,919 | 41,887 | 41,771 | 42,117 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $796 | $1,676 | $1,980 | $8,155 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Depreciation and amortization | 3,994 | 3,613 | 11,747 | 10,668 |
Stock-based compensation | 1,889 | 2,338 | 6,733 | 7,552 |
Deferred income tax expense | 1,989 | 1,987 | 3,415 | 2,916 |
Excess income tax (benefit) expense from employee stock-based awards | -15 | 590 | 274 | -2,183 |
Gain on sale of assets | -5,388 | 0 | -5,305 | 0 |
Non-cash restructuring charges | 3,695 | 0 | 3,695 | 0 |
Other | -34 | 472 | -1,115 | 655 |
Changes in operating assets and liabilities: | ' | ' | ' | ' |
Accounts receivable, net | 1,384 | -5,043 | 3,076 | -8,226 |
Inventories, net | 1,769 | -877 | -1,914 | -2,604 |
Other assets | -415 | -663 | -2,058 | -2,294 |
Accounts payable | 2,215 | 1,637 | -718 | 1,706 |
Accrued liabilities | -1,184 | -792 | -2,727 | -2,007 |
Deferred revenue | 439 | -330 | 409 | -237 |
Net cash provided by operating activities | 11,134 | 4,608 | 17,492 | 14,101 |
Cash flows from investing activities: | ' | ' | ' | ' |
Purchases of available-for-sale securities | -2,997 | -2,994 | -8,489 | -13,489 |
Sales and maturities of available-for-sale securities | 2,996 | 13,070 | 19,632 | 43,075 |
Purchase of property and equipment | -6,914 | -2,152 | -15,136 | -7,509 |
Proceeds from sale of assets | 9,533 | 0 | 9,564 | 0 |
Business acquisition consideration, net of cash acquired | 0 | -48,277 | 0 | -48,277 |
Purchase of cost method investment | 0 | -1,000 | 0 | -1,000 |
Acquired technology rights | 0 | -51 | -930 | -342 |
Net cash provided by (used in) investing activities | 2,618 | -41,404 | 4,641 | -27,542 |
Cash flows from financing activities: | ' | ' | ' | ' |
Payments on debt | 0 | 0 | -1,105 | -1,025 |
Proceeds from issuance of common stock | 5,973 | 861 | 7,891 | 3,224 |
Payments for stock repurchases | 0 | -11,036 | -14,343 | -20,916 |
Excess income tax benefit (expense) from employee stock-based awards | 15 | -590 | -274 | 2,183 |
Net cash provided by (used in) financing activities | 5,988 | -10,765 | -7,831 | -16,534 |
Effect of foreign currency exchange rate on cash | -49 | 149 | 78 | 179 |
Change in cash and cash equivalents | 19,691 | -47,412 | 14,380 | -29,796 |
Cash and cash equivalents, beginning of period | 37,478 | 75,898 | 42,789 | 58,282 |
Cash and cash equivalents, end of period | $57,169 | $28,486 | $57,169 | $28,486 |
BASIS_OF_PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2013 | |
BASIS OF PRESENTATION [Abstract] | ' |
BASIS OF PRESENTATION | ' |
NOTE 1 — BASIS OF PRESENTATION | |
The accompanying unaudited condensed consolidated financial statements have been prepared by Luminex Corporation (the “Company” or “Luminex”) in accordance with United States generally accepted accounting principles ("U.S. GAAP") for interim financial information and the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, all adjustments (consisting of normal recurring entries) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 (the "2012 10-K"). | |
The Company has two segments for financial reporting purposes: the technology and strategic partnerships (“TSP”) segment and the assays and related products (“ARP”) segment. See Note 11 — Segment Information. | |
The Company has reclassified certain 2012 amounts in the accompanying consolidated financial statements to conform to the 2013 presentation. These reclassifications include $0.5 million and $1.7 million of ARP segment selling, general and administrative expenses and the related headcount reclassified to ARP segment research and development expenses for the three and nine months ended September 30, 2012, respectively, and $3.0 million and $8.9 million of TSP segment selling, general and administrative expenses and the related headcount reclassified to ARP segment selling, general and administrative expenses for the three and nine months ended September 30, 2012, respectively. These reclassifications had no effect on the Company's consolidated comprehensive income or stockholders' equity. |
RESTRUCTURING_RESTRUCTURING
RESTRUCTURING RESTRUCTURING | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
RESTRUCTURING [Abstract] | ' | ||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||
NOTE 2 — RESTRUCTURING | |||||
In August 2013, the Company announced a restructuring plan focused on its ARP segment's Newborn Screening Group and its Brisbane, Australia office where automated punching systems are designed and manufactured. The Company is exploring strategic alternatives for its Newborn Screening assets and related automated punching group, including a potential sale or abandonment of that business. The Company has reviewed the requirements for held-for-sale and discontinued operations presentation and has determined that this business did not qualify for this presentation at September 30, 2013. The Company will continue selling its automated punching systems while it explores strategic alternatives for this business. | |||||
The Company recorded total pre-tax restructuring charges of $4.3 million in the third quarter of 2013, which primarily consisted of the non-cash estimated impairment of inventory, intangible assets, property and equipment, together with employee separation costs. The Company measured and accrued the liabilities associated with employee separation costs at fair value as of the date the plan was announced and terminations were communicated to employees, which primarily included severance pay and other separation costs such as outplacement services and benefits. As a result of the organizational change, the Company eliminated approximately 5% of its workforce. In conjunction with the restructuring plan, the Company evaluated its tangible and intangible assets for estimated impairment and recorded non-cash impairment charges of $3.7 million in the third quarter of 2013. The Company determined the fair value of the assets based upon prices for similar assets. See Note 7 — Goodwill and Other Intangible Assets. | |||||
The Company will continue to review the remaining asset balances for possible further impairment until sale or abandonment. The Company will measure and accrue the facilities exit costs at fair value upon the Company's exit. Facilities exit costs will primarily consist of cease-use losses to be recorded upon vacating the facilities and fixed asset impairment. | |||||
Statement of Operations | 2013 Restructuring Plan | ||||
Non-cash impairment charges: | |||||
Inventory | $ | 2,015 | |||
Property and equipment | 980 | ||||
Intangible Assets | 700 | ||||
Employee separation costs | 598 | ||||
Facility exit costs | — | ||||
Other | 50 | ||||
Total charges | $ | 4,343 | |||
Recorded to cost of revenue | 2,201 | ||||
Recorded to restructuring costs | $ | 2,142 | |||
Rollforward of Accrued Restructuring | |||||
Total charges | $ | 4,343 | |||
Non-cash impairment charges | (3,695 | ) | |||
Employee separation payments | (488 | ) | |||
Facility exit costs | — | ||||
Foreign exchange and other adjustments | (50 | ) | |||
Balance at September 30, 2013 | $ | 110 | |||
The remaining restructuring accrual balance is expected to be paid within the next six months. As such, it is recorded as a current liability within accrued liabilities on the consolidated balance sheet as of September 30, 2013. |
BUSINESS_COMBINATIONS
BUSINESS COMBINATIONS | 9 Months Ended |
Sep. 30, 2013 | |
Business Combinations [Abstract] | ' |
BUSINESS COMBINATIONS | ' |
NOTE 3 — BUSINESS COMBINATIONS | |
On July 11, 2012, the Company completed its acquisition of GenturaDx, Inc., a British Virgin Islands corporation with operations in Hayward, California (“GenturaDx”). GenturaDx was a molecular diagnostics company in late stage development of a fully integrated, highly automated, real-time polymerase chain reaction ("PCR") system that employs a single-use cassette for sample-to-answer workflow. Under the terms of the acquisition agreement, the Company acquired all of the outstanding capital stock of GenturaDx in exchange for approximately $49.3 million cash consideration plus (i) $3.0 million in consideration contingent upon achieving certain future development and regulatory milestones by December 31, 2013, (ii) up to $7.0 million in consideration contingent upon achieving certain future development and regulatory milestones by June 30, 2014 and (iii) additional consideration contingent upon acquired products exceeding certain revenue thresholds in each of 2013, 2014 and 2015. Of the approximately $8.1 million that was deposited in escrow as security for potential indemnity claims and certain other expressly enumerated matters, approximately $6.0 million remains in escrow as of September 30, 2013. Additionally, up to 30% of the milestone payments are subject to certain set-off rights of the Company for indemnification claims under the acquisition agreement. The Company's acquisition of GenturaDx was funded with cash on hand. |
INVESTMENTS
INVESTMENTS | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||
INVESTMENTS | ' | |||||||||||||||
NOTE 4 — INVESTMENTS | ||||||||||||||||
Marketable Securities | ||||||||||||||||
The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. Marketable securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized in earnings. Debt securities are classified as held-to-maturity when the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, which approximates the fair value of these investments. Debt securities for which the Company does not have the intent or ability to hold to maturity are classified as available-for-sale. Debt and marketable equity securities not classified as held-to-maturity or as trading are classified as available-for-sale, and are carried at fair market value, with the unrealized gains and losses included in the determination of comprehensive income and reported in stockholders’ equity. As of September 30, 2013 and December 31, 2012, all of the Company’s marketable securities were classified as available for sale. Marketable securities are recorded as either short-term or long-term on the balance sheet based on the contractual maturity date. The fair value of all securities is determined by quoted market prices, market interest rates inputs, or other than quoted prices that are observable either directly or indirectly (as of the end of the reporting period). Declines in fair value below the Company’s carrying value deemed to be other than temporary are charged against net earnings. | ||||||||||||||||
Available-for-sale securities consisted of the following as of September 30, 2013 (in thousands): | ||||||||||||||||
Amortized Cost | Gains in Accumulated Other Comprehensive Income | Losses in Accumulated Other Comprehensive Income | Estimated Fair Value | |||||||||||||
Current: | ||||||||||||||||
Money Market funds | $ | 36,311 | $ | — | $ | — | $ | 36,311 | ||||||||
Non-government sponsored debt securities | 5,498 | — | (1 | ) | 5,497 | |||||||||||
Total current securities | 41,809 | — | (1 | ) | 41,808 | |||||||||||
Noncurrent: | ||||||||||||||||
Non-government sponsored debt securities | — | — | — | — | ||||||||||||
Total noncurrent securities | — | — | — | — | ||||||||||||
Total available-for-sale securities | $ | 41,809 | $ | — | $ | (1 | ) | $ | 41,808 | |||||||
Available-for-sale securities consisted of the following as of December 31, 2012 (in thousands): | ||||||||||||||||
Amortized Cost | Gains in Accumulated Other Comprehensive Income | Losses in Accumulated Other Comprehensive Income | Estimated Fair Value | |||||||||||||
Current: | ||||||||||||||||
Money Market funds | $ | 16,987 | $ | — | $ | — | $ | 16,987 | ||||||||
Non-government sponsored debt securities | 13,602 | 5 | — | 13,607 | ||||||||||||
Total current securities | 30,589 | 5 | — | 30,594 | ||||||||||||
Noncurrent: | ||||||||||||||||
Non-government sponsored debt securities | 3,000 | — | — | 3,000 | ||||||||||||
Total noncurrent securities | 3,000 | — | — | 3,000 | ||||||||||||
Total available-for-sale securities | $ | 33,589 | $ | 5 | $ | — | $ | 33,594 | ||||||||
There were no proceeds from the sales of available-for-sale securities during the three months ended September 30, 2013 or 2012. Realized gains and losses on sales of investments are determined using the specific identification method. Realized gains and losses are included in other income (expense) in the Consolidated Statements of Comprehensive Income. Net unrealized holding losses on available-for-sale securities of $1,000, net of $0 of tax benefit, have been included in accumulated other comprehensive income as of September 30, 2013. All of the Company’s available-for-sale securities with gross unrealized losses as of September 30, 2013 have been in a loss position for less than 12 months. | ||||||||||||||||
The estimated fair value of available-for-sale debt securities at September 30, 2013 and December 31, 2012, by contractual maturity, was as follows (in thousands): | ||||||||||||||||
Estimated Fair Value | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
Due in one year or less | $ | 5,497 | $ | 13,607 | ||||||||||||
Due after one year through two years | — | 3,000 | ||||||||||||||
$ | 5,497 | $ | 16,607 | |||||||||||||
Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. | ||||||||||||||||
Non-Marketable Securities and Other-Than-Temporary Impairment | ||||||||||||||||
As of September 30, 2013 the Company owned a minority interest in a private company based in the U.S., through its investment of $1.0 million in the company. This non-controlling, minority interest is included at cost in other long-term assets on the Company's Condensed Consolidated Balance Sheets as the Company does not have significant influence over the investee as the Company owns less than 20% of the voting equity in the investee and the investee is not publicly traded. | ||||||||||||||||
A private company, that the Company had previously made a $4.1 million investment in, was acquired by a third party in July 2013 and, as a result, our non-controlling, minority interest in that private company was liquidated. We realized a gain of $5.4 million on the liquidation of this non-controlling, minority interest investment in the third quarter of 2013, which is recorded in other income on the Condensed Consolidated Statement of Comprehensive Income. | ||||||||||||||||
The Company regularly evaluates the carrying value of these cost-method investments for impairment and whether any events or circumstances are identified that would significantly harm the fair value of the investments. The primary indicators the Company utilizes to identify these events and circumstances are the investees’ ability to remain in business, such as the investees’ liquidity and rate of cash use, and the investees’ ability to secure additional funding and the value of that additional funding. In the event a decline in fair value is judged to be other-than-temporary, the Company will record an other-than-temporary impairment charge in other income, net in the Consolidated Statements of Comprehensive Income. As the inputs utilized for the Company's periodic impairment assessment are not based on observable market data, these cost method investments are classified within Level 3 of the fair value hierarchy. To determine the fair value of these investments, the Company uses all available financial information related to the entities, including information based on recent or pending third-party equity investments in these entities. In certain instances, a cost method investment's fair value is not estimated as there are no identified events or changes in the circumstances that may have a significant adverse effect on the fair value of the investment and to do so would be impractical. |
INVENTORY_NET
INVENTORY, NET | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory, Net [Abstract] | ' | |||||||
INVENTORIES, NET | ' | |||||||
NOTE 5 — INVENTORIES, NET | ||||||||
Inventories are stated at the lower of cost or market, with cost determined according to the standard cost method, which approximates the first-in, first-out method. The Company routinely assesses its on-hand inventory for timely identification and measurement of obsolete, slow-moving or otherwise impaired inventory. Inventories consisted of the following (in thousands): | ||||||||
September 30, 2013 | December 31, 2012 | |||||||
Parts and supplies | $ | 16,668 | $ | 18,259 | ||||
Work-in-progress | 5,928 | 4,831 | ||||||
Finished goods | 7,146 | 6,847 | ||||||
$ | 29,742 | $ | 29,937 | |||||
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
FAIR VALUE MEASUREMENT | ' | |||||||||||||||
NOTE 6 — FAIR VALUE MEASUREMENT | ||||||||||||||||
The Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) defines fair value, establishes a framework for measuring fair value under U.S. GAAP and enhances disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The ASC describes a fair value hierarchy based on the following three levels of inputs that may be used to measure fair value, of which the first two are considered observable and the last unobservable: | ||||||||||||||||
Level 1 – | Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||
Level 2 – | Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||
Level 3 – | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||
The Company determines the fair value of its investment portfolio assets by obtaining non-binding market prices from its third-party portfolio managers on the last day of the quarter, whose sources may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value. There were no transfers between Level 1, Level 2, or Level 3 measurements for the three month period ended September 30, 2013. | ||||||||||||||||
We record contingent consideration resulting from a business combination at its fair value on the acquisition date. The Company determines the fair value of the contingent consideration based primarily on the timing and probability of success of clinical events or regulatory approvals, the timing and probability of success of meeting commercial milestones, such as sales levels of a specific product, and discount rates. Our contingent consideration liability arose in connection with the GenturaDx acquisition. The Company re-evaluates its assumptions for its contingent consideration fair value determinations each quarter. Changes to the fair value of contingent consideration obligations can result from adjustments to discount rates, accretion of the discount rates due to the passage of time, changes in our estimates of the likelihood of or timing of achieving any development or commercial milestones, changes in the probability of certain clinical events or changes in the assumed probability associated with regulatory approval. As a result of changes in assumptions surrounding the probability of success of meeting the timing of commercial milestones contemplated in the GenturaDx acquisition agreement, the Company adjusted the contingent consideration liability related to the GenturaDx acquisition from $1.2 million as of June 30, 2013 to $0 as of September 30, 2013. The assumptions related to determining the value of contingent consideration include a significant amount of judgment, and any changes in the underlying estimates could have a material impact on the amount of contingent consideration expense recorded in any given period. | ||||||||||||||||
As of September 30, 2013 and December 31, 2012 the fair value of the Company's long-term debt was approximately $1.5 million and $2.5 million, respectively. The Company’s long-term debt is classified as a Level 3 instrument and the Company has used a discounted cash flow (“DCF”) model to determine the estimated fair value for disclosure purposes as of September 30, 2013 and December 31, 2012, which does not equal its carrying value on the Condensed Consolidated Balance Sheets. The assumptions used in preparing the DCF model include estimates for (i) the amount and timing of future interest and principal payments and (ii) the rate of return indicative of the investment risk in the ownership of the Technology Partnerships Canada ("TPC") debt. In making these assumptions, the Company considered relevant factors including the likely timing of principal repayments and the probability of full repayment considering the timing of royalty payments based upon total revenue. | ||||||||||||||||
The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012 (in thousands): | ||||||||||||||||
Fair Value Measurements at September 30, 2013 Using | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Money Market funds | $ | 36,311 | $ | — | $ | — | $ | 36,311 | ||||||||
Non-government sponsored debt securities | — | 5,497 | — | 5,497 | ||||||||||||
Liabilities: | ||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | — | $ | — | ||||||||
Fair Value Measurements at December 31, 2012 Using | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Money Market funds | $ | 16,987 | $ | — | $ | — | $ | 16,987 | ||||||||
Non-government sponsored debt securities | — | 16,607 | — | 16,607 | ||||||||||||
Liabilities: | ||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | 1,370 | $ | 1,370 | ||||||||
Changes in financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period were as follows (in thousands): | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
Balance at beginning of year | $ | 1,370 | $ | — | ||||||||||||
Contingent consideration recorded at acquisition | — | 1,370 | ||||||||||||||
Fair value adjustments | (1,370 | ) | — | |||||||||||||
Balance at end of period | $ | — | $ | 1,370 | ||||||||||||
GOODWILL_AND_OTHER_INTANGIBLE_
GOODWILL AND OTHER INTANGIBLE ASSETS | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | ' | |||||||||||||||||||
NOTE 7 — GOODWILL AND OTHER INTANGIBLE ASSETS | ||||||||||||||||||||
On July 11, 2012, the Company completed its acquisition of GenturaDx. As a result, the Company recorded approximately $8.3 million of goodwill and $40.1 million of other identifiable intangible assets. All of the Company's goodwill relates to one reporting unit, the ARP segment, for goodwill impairment testing Goodwill is reviewed for impairment at least annually at the beginning of the fourth quarter, or more frequently if impairment indicators arise. No goodwill impairments were recorded in 2013 or 2012. This goodwill is not expected to be deductible for tax purposes. | ||||||||||||||||||||
The changes in the carrying amount of the Company’s goodwill during the period are as follows (in thousands): | ||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||
Balance at beginning of year | $ | 51,128 | $ | 42,763 | ||||||||||||||||
Acquisition of GenturaDx | — | 8,292 | ||||||||||||||||||
Foreign currency translation adjustments | (275 | ) | 73 | |||||||||||||||||
Balance at end of period | $ | 50,853 | $ | 51,128 | ||||||||||||||||
The current in-process research and development projects are scheduled to be completed in 2014. The estimated aggregate costs to complete these projects are between $7.0 and $10.0 million. The Company’s intangible assets are reflected in the table below (in thousands, except weighted average lives): | ||||||||||||||||||||
Finite-lived | Indefinite-lived | |||||||||||||||||||
Technology, trade secrets and know-how | Customer lists and contracts | Other identifiable intangible assets | IP R&D | Total | ||||||||||||||||
2012 | ||||||||||||||||||||
Balance at December 31, 2011 | $ | 30,000 | $ | 7,981 | $ | 1,933 | $ | 631 | $ | 40,545 | ||||||||||
Additions due to acquisition of GenturaDx | — | — | — | 40,100 | 40,100 | |||||||||||||||
Write-off of IP R&D projects | — | — | — | (118 | ) | (118 | ) | |||||||||||||
Foreign currency translation adjustments | 30 | 5 | 8 | 14 | 57 | |||||||||||||||
Balance at December 31, 2012 | 30,030 | 7,986 | 1,941 | 40,627 | 80,584 | |||||||||||||||
Less: accumulated amortization: | ||||||||||||||||||||
Accumulated amortization balance at December 31, 2011 | (9,999 | ) | (768 | ) | (341 | ) | — | (11,108 | ) | |||||||||||
Amortization expense | (3,187 | ) | (790 | ) | (266 | ) | — | (4,243 | ) | |||||||||||
Foreign currency translation adjustments | (7 | ) | (2 | ) | (6 | ) | — | (15 | ) | |||||||||||
Accumulated amortization balance at December 31, 2012 | (13,193 | ) | (1,560 | ) | (613 | ) | — | (15,366 | ) | |||||||||||
Net balance at December 31, 2012 | $ | 16,837 | $ | 6,426 | $ | 1,328 | $ | 40,627 | $ | 65,218 | ||||||||||
Weighted average life (in years) | 10 | 11 | 9 | |||||||||||||||||
2013 | ||||||||||||||||||||
Balance at December 31, 2012 | $ | 30,030 | $ | 7,986 | $ | 1,941 | $ | 40,627 | $ | 80,584 | ||||||||||
Write-off / Impairment | (214 | ) | (7 | ) | (20 | ) | (459 | ) | $ | (700 | ) | |||||||||
Foreign currency translation adjustments | (105 | ) | (19 | ) | (29 | ) | (68 | ) | (221 | ) | ||||||||||
Balance at September 30, 2013 | 29,711 | 7,960 | 1,892 | 40,100 | 79,663 | |||||||||||||||
Less: accumulated amortization: | ||||||||||||||||||||
Accumulated amortization balance at December 31, 2012 | (13,193 | ) | (1,560 | ) | (613 | ) | — | (15,366 | ) | |||||||||||
Amortization expense | (2,381 | ) | (591 | ) | (105 | ) | — | (3,077 | ) | |||||||||||
Foreign currency translation adjustments | 61 | 14 | 25 | — | 100 | |||||||||||||||
Accumulated amortization balance at September 30, 2013 | (15,513 | ) | (2,137 | ) | (693 | ) | — | (18,343 | ) | |||||||||||
Net balance at September 30, 2013 | $ | 14,198 | $ | 5,823 | $ | 1,199 | $ | 40,100 | $ | 61,320 | ||||||||||
Weighted average life (in years) | 10 | 11 | 9 | |||||||||||||||||
The estimated aggregate amortization expense for the next five fiscal years and thereafter is as follows (in thousands): | ||||||||||||||||||||
2013 (three months) | $ | 1,019 | ||||||||||||||||||
2014 | 3,917 | |||||||||||||||||||
2015 | 3,232 | |||||||||||||||||||
2016 | 3,100 | |||||||||||||||||||
2017 | 2,144 | |||||||||||||||||||
Thereafter | 7,808 | |||||||||||||||||||
21,220 | ||||||||||||||||||||
IP R&D | 40,100 | |||||||||||||||||||
$ | 61,320 | |||||||||||||||||||
OTHER_COMPREHENSIVE_LOSS_INCOM
OTHER COMPREHENSIVE (LOSS) INCOME | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Statement of Comprehensive Income [Abstract] | ' | |||||||||||||||||||||||
Comprehensive Income (Loss) Note | ' | |||||||||||||||||||||||
NOTE 8 — OTHER COMPREHENSIVE (LOSS) INCOME | ||||||||||||||||||||||||
Comprehensive (loss) income represents a measure of all changes in equity that result from recognized transactions and other economic events other than those resulting from investments by and distributions to shareholders. Other comprehensive (loss) income for the Company includes foreign currency translation adjustments and net unrealized holding gains and losses on available-for-sale investments. | ||||||||||||||||||||||||
The following table presents the changes in each component of accumulated other comprehensive (loss) income, net of tax (in thousands): | ||||||||||||||||||||||||
Foreign Currency Items | Available for Sale Investments | Accumulated Other Comprehensive Income Items | ||||||||||||||||||||||
Beginning balance, December 31, 2012 | $ | 1,100 | $ | 1 | $ | 1,101 | ||||||||||||||||||
Other comprehensive (loss) income before reclassifications | (515 | ) | 8 | (507 | ) | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | — | (9 | ) | (9 | ) | |||||||||||||||||||
Net current-period other comprehensive (loss) | (515 | ) | (1 | ) | (516 | ) | ||||||||||||||||||
Ending balance, September 30, 2013 | $ | 585 | $ | — | $ | 585 | ||||||||||||||||||
The following table presents the tax (expense) benefit allocated to each component of other comprehensive (loss) income (in thousands): | ||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
Before Tax | Tax Benefit | Net of Tax | Before Tax | Tax Benefit | Net of Tax | |||||||||||||||||||
Foreign currency translation adjustments | $ | 106 | $ | — | $ | 106 | $ | (515 | ) | $ | — | $ | (515 | ) | ||||||||||
Unrealized (losses) gains on available-for-sale investments | 1 | — | 1 | (2 | ) | 1 | (1 | ) | ||||||||||||||||
Other comprehensive (loss) income | $ | 107 | $ | — | $ | 107 | $ | (517 | ) | $ | 1 | $ | (516 | ) | ||||||||||
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
EARNINGS PER SHARE | ' | |||||||||||||||
NOTE 9 — EARNINGS PER SHARE | ||||||||||||||||
A reconciliation of the denominators used in computing per share net income, or EPS, is as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator: | ||||||||||||||||
Net income | $ | 796 | $ | 1,676 | $ | 1,980 | $ | 8,155 | ||||||||
Denominator: | ||||||||||||||||
Denominator for basic net income per share - weighted average common stock outstanding | 40,752 | 41,000 | 40,712 | 40,995 | ||||||||||||
Effect of dilutive securities: stock options and awards | 1,167 | 887 | 1,059 | 1,122 | ||||||||||||
Denominator for diluted net income per share - weighted average shares outstanding - diluted | 41,919 | 41,887 | 41,771 | 42,117 | ||||||||||||
Basic net income per share | $ | 0.02 | $ | 0.04 | $ | 0.05 | $ | 0.2 | ||||||||
Diluted net income per share | $ | 0.02 | $ | 0.04 | $ | 0.05 | $ | 0.19 | ||||||||
Basic net (loss) income per share is computed by dividing the net (loss) income for the period by the weighted average number of common shares outstanding during the period. Diluted net (loss) income per share is computed by dividing the net (loss) income for the period by the weighted average number of common and common equivalent shares outstanding during the period. Restricted stock (consisting of restricted stock awards, or RSAs, and restricted stock units, or RSUs) and stock options to acquire approximately 0.2 million and 0.2 million shares for the three months ended September 30, 2013 and 2012, respectively, and 0.2 million and 0.2 million shares for the nine months ended September 30, 2013 and 2012, respectively, were excluded from the computations of diluted EPS because the effect of including those RSAs, RSUs, and stock options would have been anti-dilutive. |
STOCKBASED_COMPENSATION
STOCK-BASED COMPENSATION | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
STOCK-BASED COMPENSATION | ' | |||||||||||||||
NOTE 10 — STOCK-BASED COMPENSATION | ||||||||||||||||
The Company’s stock option activity for the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
Stock Options (shares in thousands) | Shares | Weighted Average Exercise Price | ||||||||||||||
Outstanding at December 31, 2012 | 1,676 | $ | 12.13 | |||||||||||||
Granted | 159 | 17.24 | ||||||||||||||
Exercised | (798 | ) | 8.84 | |||||||||||||
Cancelled or expired | (20 | ) | 19 | |||||||||||||
Outstanding at September 30, 2013 | 1,017 | $ | 15.37 | |||||||||||||
The Company had $2.3 million of total unrecognized compensation costs related to stock options at September 30, 2013 that are expected to be recognized over a weighted average period of 1.9 years. | ||||||||||||||||
The Company’s restricted share activity for the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
Restricted Stock Awards (shares in thousands) | Shares | Weighted Average Grant Price | ||||||||||||||
Non-vested at December 31, 2012 | 818 | $ | 19.32 | |||||||||||||
Granted | 354 | 17.28 | ||||||||||||||
Vested | (265 | ) | 18.83 | |||||||||||||
Cancelled or expired | (55 | ) | 19.41 | |||||||||||||
Non-vested at September 30, 2013 | 852 | $ | 18.62 | |||||||||||||
Restricted Stock Units (in thousands) | Shares | |||||||||||||||
Non-vested at December 31, 2012 | 875 | |||||||||||||||
Granted | 193 | |||||||||||||||
Vested | (77 | ) | ||||||||||||||
Cancelled or expired | (155 | ) | ||||||||||||||
Non-vested at September 30, 2013 | 836 | |||||||||||||||
As of September 30, 2013, there was $15.1 million and $5.3 million of unrecognized compensation cost related to RSAs and RSUs, respectively. That cost is expected to be recognized over a weighted average period of 3.2 years for the RSAs and 2.2 years for the RSUs. The Company issues a small number of cash settled restricted stock units pursuant to the Company's equity incentive plan in certain foreign countries. These grants do not result in the issuance of common stock and are considered immaterial by the Company. | ||||||||||||||||
The following are the stock-based compensation costs recognized in the Company’s condensed consolidated statements of comprehensive income (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Cost of revenue | $ | 233 | $ | 222 | $ | 635 | $ | 697 | ||||||||
Research and development | 675 | 520 | 1,892 | 1,507 | ||||||||||||
Selling, general and administrative | 981 | 1,596 | 4,206 | 5,348 | ||||||||||||
Stock-based compensation costs reflected in net income | $ | 1,889 | $ | 2,338 | $ | 6,733 | $ | 7,552 | ||||||||
SEGMENT_INFORMATION
SEGMENT INFORMATION | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
SEGMENT INFORMATION | ' | |||||||||||||||||||||||
NOTE 11 — SEGMENT INFORMATION | ||||||||||||||||||||||||
Management has determined that the Company has two segments for financial reporting purposes: the TSP segment and the ARP segment. The accounting principles of the segments are the same as those described in the Summary of Significant Accounting Policies in the 2012 10-K. | ||||||||||||||||||||||||
Intersegment sales are recorded at fixed prices that approximate the prices charged to third party strategic partners and are not a measure of segment operating earnings. Intersegment sales of approximately $2.2 million and $2.5 million for the quarters ending September 30, 2013 and 2012, and $7.9 million and $8.2 million for the nine months ended September 30, 2013 and 2012, respectively, have been eliminated upon consolidation. The following is selected segment information for the periods indicated (in thousands): | ||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | |||||||||||||||||||||||
TSP Segment | ARP Segment | Consolidated | TSP Segment | ARP Segment | Consolidated | |||||||||||||||||||
Revenues from external customers | $ | 33,335 | $ | 17,445 | $ | 50,780 | $ | 31,584 | $ | 18,463 | $ | 50,047 | ||||||||||||
Depreciation and amortization | 2,087 | 1,907 | $ | 3,994 | 1,801 | 1,812 | $ | 3,613 | ||||||||||||||||
Operating profit (loss) | 9,293 | (13,487 | ) | $ | (4,194 | ) | 7,205 | (3,838 | ) | $ | 3,367 | |||||||||||||
Segment assets | 187,422 | 106,474 | $ | 293,896 | 166,763 | 115,742 | $ | 282,505 | ||||||||||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||
TSP Segment | ARP Segment | Consolidated | TSP Segment | ARP Segment | Consolidated | |||||||||||||||||||
Revenues from external customers | $ | 96,352 | $ | 61,915 | $ | 158,267 | $ | 91,358 | $ | 55,689 | $ | 147,047 | ||||||||||||
Depreciation and amortization | 5,826 | 5,921 | $ | 11,747 | 5,096 | 5,572 | $ | 10,668 | ||||||||||||||||
Operating profit (loss) | 23,368 | (24,073 | ) | $ | (705 | ) | 21,725 | (6,264 | ) | $ | 15,461 | |||||||||||||
Segment assets | 187,422 | 106,474 | $ | 293,896 | 166,763 | 115,742 | $ | 282,505 | ||||||||||||||||
ACCRUED_WARRANTY_COSTS
ACCRUED WARRANTY COSTS | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Product Warranties Disclosures [Abstract] | ' | |||
ACCRUED WARRANTY COSTS | ' | |||
NOTE 12 — ACCRUED WARRANTY COSTS | ||||
Sales of certain of the Company's systems are subject to a warranty. System warranties typically extend for a period of 12 months from the date of installation not to exceed 24 months from the date of shipment. The Company estimates the amount of warranty claims on sold products that may be incurred based on current and historical data. The actual warranty expense could differ from the estimates made by the Company based on product performance. Warranty expenses are evaluated and adjusted periodically. | ||||
The following table summarizes the changes in the warranty accrual (in thousands): | ||||
Accrued warranty costs at December 31, 2012 | $ | 603 | ||
Warranty expenses | (783 | ) | ||
Accrual for warranty costs | 1,163 | |||
Accrued warranty costs at September 30, 2013 | $ | 983 | ||
INCOME_TAXES
INCOME TAXES | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
INCOME TAXES | ' |
NOTE 13 — INCOME TAXES | |
At the end of each interim reporting period, an estimate is made of the effective tax rate expected to be applicable for the full year. The estimated full year’s effective tax rate is used to determine the income tax rate for each applicable interim reporting period. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period of the enactment date. The effective tax rate for the nine months ended September 30, 2013 was 66.77%, including amounts recorded for discrete events such as the effect of the retroactive extension of the U.S. research credit under the 2012 Taxpayer Relief Act. This differs from the statutory rate of 35% primarily because of the worldwide mix of consolidated earnings and losses before taxes and an assessment regarding the realizability of the Company’s deferred tax assets. The Company’s tax expense reflects the full federal, various state, and foreign blended statutory rates. The Company is utilizing its net operating losses in the U.S. and Canada; therefore cash taxes to be paid are expected to be in the range of 15%-20% of book tax expense. | |
The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, Australia, Canada, China, Japan, the Netherlands, and various states. Due to net operating losses, the U.S., Canadian and Australian tax returns dating back to 2000, 2005, and 2010, respectively, can still be reviewed by the taxing authorities. The Company recorded liabilities of $121,000 associated with its uncertain tax positions in the third quarter of 2013. No other material changes to this liability are expected within the next 12 months. For the nine months ended September 30, 2013, there were no material changes to the total amount of unrecognized tax benefits. The Company recognizes interest and penalties related to uncertain tax positions in the provision for income taxes. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
NOTE 14 - COMMITMENTS AND CONTINGENCIES | |
On August 30, 2012 Abbott Laboratories, Inc. ("Abbott") was named as a defendant in the complaint filed by ENZO Life Sciences, Inc. ("ENZO") in the U.S. District Court in Delaware for alleged infringement of its US Patent 7,064,197 as a result of Abbott's distribution of the Company's xTAG Respiratory Viral Panel. The Company and Abbott have entered into an agreement requiring the Company to defend and indemnify Abbott for any alleged patent infringement resulting from its distribution of the Company's Respiratory Viral Panel. The complaint seeks unspecified monetary damages and injunctive relief. Abbott filed an answer to the complaint on October 15, 2012. On November 30, 2012, the Company intervened in the lawsuit. On January 2, 2013, ENZO filed additional claims against the Company, alleging infringement of US Patent 7,064,197 resulting from the Company's sale of its xTAG, FlexScript LDA, SelecTAG, and xMAP Salmonella Serotyping Assay products and alleging infringement of US Patent 8,097,405 resulting from the Company's sale of Multicode products. The Company filed an answer to ENZO's additional claims on January 28, 2013. On October 2, 2013 ENZO filed additional claims against the Company, alleging infringement of U.S. Patent 6,992,180 resulting from the Company’s sale of Multicode products. The Company filed an answer to ENZO’s additional claims on October 21, 2013. A trial date has not been set. The parties to the lawsuit have engaged in the discovery process. | |
When and if it appears probable in management's judgment that the Company would incur monetary damages or other costs in connection with any claims or proceedings, and such costs can be reasonably estimated, liabilities will be recorded in the financial statements and charges will be recorded against earnings. There can be no assurance that the Company will successfully defend this suit or that a judgment against us would not materially adversely affect our financial condition or operating results. | |
In January 2013, the Company finalized the termination of its molecular diagnostics distribution agreements and an expense of $7.0 million was recorded in selling, general and administrative expenses in the first quarter of 2013. All payments were made in the second quarter of 2013. |
RECENT_ACCOUNTING_PRONOUNCEMEN
RECENT ACCOUNTING PRONOUNCEMENTS | 9 Months Ended |
Sep. 30, 2013 | |
Recent Accounting Pronouncements [Abstract] | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | ' |
NOTE 15 — RECENT ACCOUNTING PRONOUNCEMENTS | |
In February 2013, the FASB issued guidance on disclosures of additional information with respect to changes in accumulated other comprehensive income ("AOCI") balances by component and significant items reclassified out of AOCI. Expanded disclosures for presentation of changes in AOCI involve disaggregating the total change of each component of other comprehensive income as well as presenting separately for each such component the portion of the change in AOCI related to (1) amounts reclassified into income and (2) current-period other comprehensive income. Additionally, for amounts reclassified into income, disclosure in one location would be required, based upon each specific AOCI component, of the amounts impacting individual income statement line items. Disclosure of the income statement line item impacts will be required only for components of AOCI reclassified into income in their entirety. The disclosures required with respect to income statement line item impacts would be made in either the notes to the consolidated financial statements or parenthetically on the face of the financial statements. For the Company, this Accounting Standards Update is effective beginning January 1, 2013. Because this standard only impacts presentation and disclosure requirements, its adoption did not have a material impact on the Company's consolidated results of operations or financial condition. | |
In July 2013, the FASB issued guidance on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance requires an entity to present unrecognized tax benefits as a reduction to deferred tax assets when a net operating loss carryforward, similar tax loss or a tax credit carryforward exists, with limited exceptions. For the Company, this Accounting Standards Update is effective for fiscal years beginning on or after December 15, 2013, and for interim periods within those fiscal years. This pronouncement will have no effect on the financial statements as the Company has historically presented uncertain tax positions in accordance with this Accounting Standards Update. |
RESTRUCTURING_RESTRUCTURING_Ta
RESTRUCTURING RESTRUCTURING (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
RESTRUCTURING [Abstract] | ' | ||||
Restructuring and Related Costs [Table Text Block] | ' | ||||
Statement of Operations | 2013 Restructuring Plan | ||||
Non-cash impairment charges: | |||||
Inventory | $ | 2,015 | |||
Property and equipment | 980 | ||||
Intangible Assets | 700 | ||||
Employee separation costs | 598 | ||||
Facility exit costs | — | ||||
Other | 50 | ||||
Total charges | $ | 4,343 | |||
Recorded to cost of revenue | 2,201 | ||||
Recorded to restructuring costs | $ | 2,142 | |||
Rollforward of Accrued Restructuring | |||||
Total charges | $ | 4,343 | |||
Non-cash impairment charges | (3,695 | ) | |||
Employee separation payments | (488 | ) | |||
Facility exit costs | — | ||||
Foreign exchange and other adjustments | (50 | ) | |||
Balance at September 30, 2013 | $ | 110 | |||
The remaining restructuring accrual balance is expected to be paid within the next six months. As such, it is recorded as a current liability within accrued liabilities on the consolidated balance sheet as of September 30, 2013. |
INVESTMENTS_Tables
INVESTMENTS (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||
Components of available-for-sale securities | ' | |||||||||||||||
Available-for-sale securities consisted of the following as of September 30, 2013 (in thousands): | ||||||||||||||||
Amortized Cost | Gains in Accumulated Other Comprehensive Income | Losses in Accumulated Other Comprehensive Income | Estimated Fair Value | |||||||||||||
Current: | ||||||||||||||||
Money Market funds | $ | 36,311 | $ | — | $ | — | $ | 36,311 | ||||||||
Non-government sponsored debt securities | 5,498 | — | (1 | ) | 5,497 | |||||||||||
Total current securities | 41,809 | — | (1 | ) | 41,808 | |||||||||||
Noncurrent: | ||||||||||||||||
Non-government sponsored debt securities | — | — | — | — | ||||||||||||
Total noncurrent securities | — | — | — | — | ||||||||||||
Total available-for-sale securities | $ | 41,809 | $ | — | $ | (1 | ) | $ | 41,808 | |||||||
Available-for-sale securities consisted of the following as of December 31, 2012 (in thousands): | ||||||||||||||||
Amortized Cost | Gains in Accumulated Other Comprehensive Income | Losses in Accumulated Other Comprehensive Income | Estimated Fair Value | |||||||||||||
Current: | ||||||||||||||||
Money Market funds | $ | 16,987 | $ | — | $ | — | $ | 16,987 | ||||||||
Non-government sponsored debt securities | 13,602 | 5 | — | 13,607 | ||||||||||||
Total current securities | 30,589 | 5 | — | 30,594 | ||||||||||||
Noncurrent: | ||||||||||||||||
Non-government sponsored debt securities | 3,000 | — | — | 3,000 | ||||||||||||
Total noncurrent securities | 3,000 | — | — | 3,000 | ||||||||||||
Total available-for-sale securities | $ | 33,589 | $ | 5 | $ | — | $ | 33,594 | ||||||||
Estimated fair value of available-for-sale debt securities, by contractual maturity | ' | |||||||||||||||
The estimated fair value of available-for-sale debt securities at September 30, 2013 and December 31, 2012, by contractual maturity, was as follows (in thousands): | ||||||||||||||||
Estimated Fair Value | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
Due in one year or less | $ | 5,497 | $ | 13,607 | ||||||||||||
Due after one year through two years | — | 3,000 | ||||||||||||||
$ | 5,497 | $ | 16,607 | |||||||||||||
INVENTORY_NET_Tables
INVENTORY, NET (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory, Net [Abstract] | ' | |||||||
Schedule of Inventory, Current | ' | |||||||
Inventories consisted of the following (in thousands): | ||||||||
September 30, 2013 | December 31, 2012 | |||||||
Parts and supplies | $ | 16,668 | $ | 18,259 | ||||
Work-in-progress | 5,928 | 4,831 | ||||||
Finished goods | 7,146 | 6,847 | ||||||
$ | 29,742 | $ | 29,937 | |||||
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair value, financial assets (cash equivalents and investments) measured on a recurring basis | ' | |||||||||||||||
The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012 (in thousands): | ||||||||||||||||
Fair Value Measurements at September 30, 2013 Using | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Money Market funds | $ | 36,311 | $ | — | $ | — | $ | 36,311 | ||||||||
Non-government sponsored debt securities | — | 5,497 | — | 5,497 | ||||||||||||
Liabilities: | ||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | — | $ | — | ||||||||
Fair Value Measurements at December 31, 2012 Using | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Money Market funds | $ | 16,987 | $ | — | $ | — | $ | 16,987 | ||||||||
Non-government sponsored debt securities | — | 16,607 | — | 16,607 | ||||||||||||
Liabilities: | ||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | 1,370 | $ | 1,370 | ||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | ' | |||||||||||||||
Changes in financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period were as follows (in thousands): | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
Balance at beginning of year | $ | 1,370 | $ | — | ||||||||||||
Contingent consideration recorded at acquisition | — | 1,370 | ||||||||||||||
Fair value adjustments | (1,370 | ) | — | |||||||||||||
Balance at end of period | $ | — | $ | 1,370 | ||||||||||||
GOODWILL_AND_OTHER_INTANGIBLE_1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Changes in the carrying amount of goodwill | ' | |||||||||||||||||||
The changes in the carrying amount of the Company’s goodwill during the period are as follows (in thousands): | ||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||
Balance at beginning of year | $ | 51,128 | $ | 42,763 | ||||||||||||||||
Acquisition of GenturaDx | — | 8,292 | ||||||||||||||||||
Foreign currency translation adjustments | (275 | ) | 73 | |||||||||||||||||
Balance at end of period | $ | 50,853 | $ | 51,128 | ||||||||||||||||
Schedule of intangible assets | ' | |||||||||||||||||||
The current in-process research and development projects are scheduled to be completed in 2014. The estimated aggregate costs to complete these projects are between $7.0 and $10.0 million. The Company’s intangible assets are reflected in the table below (in thousands, except weighted average lives): | ||||||||||||||||||||
Finite-lived | Indefinite-lived | |||||||||||||||||||
Technology, trade secrets and know-how | Customer lists and contracts | Other identifiable intangible assets | IP R&D | Total | ||||||||||||||||
2012 | ||||||||||||||||||||
Balance at December 31, 2011 | $ | 30,000 | $ | 7,981 | $ | 1,933 | $ | 631 | $ | 40,545 | ||||||||||
Additions due to acquisition of GenturaDx | — | — | — | 40,100 | 40,100 | |||||||||||||||
Write-off of IP R&D projects | — | — | — | (118 | ) | (118 | ) | |||||||||||||
Foreign currency translation adjustments | 30 | 5 | 8 | 14 | 57 | |||||||||||||||
Balance at December 31, 2012 | 30,030 | 7,986 | 1,941 | 40,627 | 80,584 | |||||||||||||||
Less: accumulated amortization: | ||||||||||||||||||||
Accumulated amortization balance at December 31, 2011 | (9,999 | ) | (768 | ) | (341 | ) | — | (11,108 | ) | |||||||||||
Amortization expense | (3,187 | ) | (790 | ) | (266 | ) | — | (4,243 | ) | |||||||||||
Foreign currency translation adjustments | (7 | ) | (2 | ) | (6 | ) | — | (15 | ) | |||||||||||
Accumulated amortization balance at December 31, 2012 | (13,193 | ) | (1,560 | ) | (613 | ) | — | (15,366 | ) | |||||||||||
Net balance at December 31, 2012 | $ | 16,837 | $ | 6,426 | $ | 1,328 | $ | 40,627 | $ | 65,218 | ||||||||||
Weighted average life (in years) | 10 | 11 | 9 | |||||||||||||||||
2013 | ||||||||||||||||||||
Balance at December 31, 2012 | $ | 30,030 | $ | 7,986 | $ | 1,941 | $ | 40,627 | $ | 80,584 | ||||||||||
Write-off / Impairment | (214 | ) | (7 | ) | (20 | ) | (459 | ) | $ | (700 | ) | |||||||||
Foreign currency translation adjustments | (105 | ) | (19 | ) | (29 | ) | (68 | ) | (221 | ) | ||||||||||
Balance at September 30, 2013 | 29,711 | 7,960 | 1,892 | 40,100 | 79,663 | |||||||||||||||
Less: accumulated amortization: | ||||||||||||||||||||
Accumulated amortization balance at December 31, 2012 | (13,193 | ) | (1,560 | ) | (613 | ) | — | (15,366 | ) | |||||||||||
Amortization expense | (2,381 | ) | (591 | ) | (105 | ) | — | (3,077 | ) | |||||||||||
Foreign currency translation adjustments | 61 | 14 | 25 | — | 100 | |||||||||||||||
Accumulated amortization balance at September 30, 2013 | (15,513 | ) | (2,137 | ) | (693 | ) | — | (18,343 | ) | |||||||||||
Net balance at September 30, 2013 | $ | 14,198 | $ | 5,823 | $ | 1,199 | $ | 40,100 | $ | 61,320 | ||||||||||
Weighted average life (in years) | 10 | 11 | 9 | |||||||||||||||||
Estimated aggregate amortization expense for the next five years and thereafter | ' | |||||||||||||||||||
The estimated aggregate amortization expense for the next five fiscal years and thereafter is as follows (in thousands): | ||||||||||||||||||||
2013 (three months) | $ | 1,019 | ||||||||||||||||||
2014 | 3,917 | |||||||||||||||||||
2015 | 3,232 | |||||||||||||||||||
2016 | 3,100 | |||||||||||||||||||
2017 | 2,144 | |||||||||||||||||||
Thereafter | 7,808 | |||||||||||||||||||
21,220 | ||||||||||||||||||||
IP R&D | 40,100 | |||||||||||||||||||
$ | 61,320 | |||||||||||||||||||
OTHER_COMPREHENSIVE_LOSS_INCOM1
OTHER COMPREHENSIVE (LOSS) INCOME (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Statement of Comprehensive Income [Abstract] | ' | |||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||||||||
The following table presents the changes in each component of accumulated other comprehensive (loss) income, net of tax (in thousands): | ||||||||||||||||||||||||
Foreign Currency Items | Available for Sale Investments | Accumulated Other Comprehensive Income Items | ||||||||||||||||||||||
Beginning balance, December 31, 2012 | $ | 1,100 | $ | 1 | $ | 1,101 | ||||||||||||||||||
Other comprehensive (loss) income before reclassifications | (515 | ) | 8 | (507 | ) | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | — | (9 | ) | (9 | ) | |||||||||||||||||||
Net current-period other comprehensive (loss) | (515 | ) | (1 | ) | (516 | ) | ||||||||||||||||||
Ending balance, September 30, 2013 | $ | 585 | $ | — | $ | 585 | ||||||||||||||||||
Schedule of Comprehensive Income (Loss) | ' | |||||||||||||||||||||||
The following table presents the tax (expense) benefit allocated to each component of other comprehensive (loss) income (in thousands): | ||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
Before Tax | Tax Benefit | Net of Tax | Before Tax | Tax Benefit | Net of Tax | |||||||||||||||||||
Foreign currency translation adjustments | $ | 106 | $ | — | $ | 106 | $ | (515 | ) | $ | — | $ | (515 | ) | ||||||||||
Unrealized (losses) gains on available-for-sale investments | 1 | — | 1 | (2 | ) | 1 | (1 | ) | ||||||||||||||||
Other comprehensive (loss) income | $ | 107 | $ | — | $ | 107 | $ | (517 | ) | $ | 1 | $ | (516 | ) | ||||||||||
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share | ' | |||||||||||||||
A reconciliation of the denominators used in computing per share net income, or EPS, is as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator: | ||||||||||||||||
Net income | $ | 796 | $ | 1,676 | $ | 1,980 | $ | 8,155 | ||||||||
Denominator: | ||||||||||||||||
Denominator for basic net income per share - weighted average common stock outstanding | 40,752 | 41,000 | 40,712 | 40,995 | ||||||||||||
Effect of dilutive securities: stock options and awards | 1,167 | 887 | 1,059 | 1,122 | ||||||||||||
Denominator for diluted net income per share - weighted average shares outstanding - diluted | 41,919 | 41,887 | 41,771 | 42,117 | ||||||||||||
Basic net income per share | $ | 0.02 | $ | 0.04 | $ | 0.05 | $ | 0.2 | ||||||||
Diluted net income per share | $ | 0.02 | $ | 0.04 | $ | 0.05 | $ | 0.19 | ||||||||
STOCKBASED_COMPENSATION_Tables
STOCK-BASED COMPENSATION (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Stock options activity | ' | |||||||||||||||
The Company’s stock option activity for the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
Stock Options (shares in thousands) | Shares | Weighted Average Exercise Price | ||||||||||||||
Outstanding at December 31, 2012 | 1,676 | $ | 12.13 | |||||||||||||
Granted | 159 | 17.24 | ||||||||||||||
Exercised | (798 | ) | 8.84 | |||||||||||||
Cancelled or expired | (20 | ) | 19 | |||||||||||||
Outstanding at September 30, 2013 | 1,017 | $ | 15.37 | |||||||||||||
Restricted shares activity | ' | |||||||||||||||
The Company’s restricted share activity for the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
Restricted Stock Awards (shares in thousands) | Shares | Weighted Average Grant Price | ||||||||||||||
Non-vested at December 31, 2012 | 818 | $ | 19.32 | |||||||||||||
Granted | 354 | 17.28 | ||||||||||||||
Vested | (265 | ) | 18.83 | |||||||||||||
Cancelled or expired | (55 | ) | 19.41 | |||||||||||||
Non-vested at September 30, 2013 | 852 | $ | 18.62 | |||||||||||||
Restricted Stock Units (in thousands) | Shares | |||||||||||||||
Non-vested at December 31, 2012 | 875 | |||||||||||||||
Granted | 193 | |||||||||||||||
Vested | (77 | ) | ||||||||||||||
Cancelled or expired | (155 | ) | ||||||||||||||
Non-vested at September 30, 2013 | 836 | |||||||||||||||
Stock-based compensation costs recognized in consolidated statements of income | ' | |||||||||||||||
The following are the stock-based compensation costs recognized in the Company’s condensed consolidated statements of comprehensive income (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Cost of revenue | $ | 233 | $ | 222 | $ | 635 | $ | 697 | ||||||||
Research and development | 675 | 520 | 1,892 | 1,507 | ||||||||||||
Selling, general and administrative | 981 | 1,596 | 4,206 | 5,348 | ||||||||||||
Stock-based compensation costs reflected in net income | $ | 1,889 | $ | 2,338 | $ | 6,733 | $ | 7,552 | ||||||||
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Schedule of segment reporting information by segment | ' | |||||||||||||||||||||||
ollowing is selected segment information for the periods indicated (in thousands): | ||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | |||||||||||||||||||||||
TSP Segment | ARP Segment | Consolidated | TSP Segment | ARP Segment | Consolidated | |||||||||||||||||||
Revenues from external customers | $ | 33,335 | $ | 17,445 | $ | 50,780 | $ | 31,584 | $ | 18,463 | $ | 50,047 | ||||||||||||
Depreciation and amortization | 2,087 | 1,907 | $ | 3,994 | 1,801 | 1,812 | $ | 3,613 | ||||||||||||||||
Operating profit (loss) | 9,293 | (13,487 | ) | $ | (4,194 | ) | 7,205 | (3,838 | ) | $ | 3,367 | |||||||||||||
Segment assets | 187,422 | 106,474 | $ | 293,896 | 166,763 | 115,742 | $ | 282,505 | ||||||||||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||
TSP Segment | ARP Segment | Consolidated | TSP Segment | ARP Segment | Consolidated | |||||||||||||||||||
Revenues from external customers | $ | 96,352 | $ | 61,915 | $ | 158,267 | $ | 91,358 | $ | 55,689 | $ | 147,047 | ||||||||||||
Depreciation and amortization | 5,826 | 5,921 | $ | 11,747 | 5,096 | 5,572 | $ | 10,668 | ||||||||||||||||
Operating profit (loss) | 23,368 | (24,073 | ) | $ | (705 | ) | 21,725 | (6,264 | ) | $ | 15,461 | |||||||||||||
Segment assets | 187,422 | 106,474 | $ | 293,896 | 166,763 | 115,742 | $ | 282,505 | ||||||||||||||||
ACCRUED_WARRANTY_COSTS_Tables
ACCRUED WARRANTY COSTS (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Product Warranties Disclosures [Abstract] | ' | |||
Changes in warranty accrual | ' | |||
The following table summarizes the changes in the warranty accrual (in thousands): | ||||
Accrued warranty costs at December 31, 2012 | $ | 603 | ||
Warranty expenses | (783 | ) | ||
Accrual for warranty costs | 1,163 | |||
Accrued warranty costs at September 30, 2013 | $ | 983 | ||
BASIS_OF_PRESENTATION_Details
BASIS OF PRESENTATION (Details) (USD $) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Variable Interest Entity [Line Items] | ' | ' |
Number of segments for financial reporting purposes (in number of segments) | 2 | 2 |
Research and development | Assays and Related Products [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Prior Period Reclassification Adjustment | $0.50 | $1.70 |
Selling, General and Administrative Expenses [Member] | Assays and Related Products [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Prior Period Reclassification Adjustment | $3 | $8.90 |
RESTRUCTURING_Details
RESTRUCTURING (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Restructuring Cost and Reserve [Line Items] | ' |
Employee Separation Costs | $598 |
Facility Exit Costs | 0 |
Other Restructuring Costs | 50 |
Total Restructuring Charges | 4,343 |
Restructuring Charges Included In Cost Of Revenue | 2,201 |
Restructuring Charges And Associated Cost | 2,142 |
Asset Impairment Charges | -3,695 |
Employee Separation Payments | -488 |
Foreign Exchange and Other Adjustments | -50 |
Restructuring Reserve | 110 |
Restructuring and Related Cost, Number of Positions Eliminated, Percent | 5.00% |
Inventories [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Asset Impairment Charges | -2,015 |
Property, Plant and Equipment [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Asset Impairment Charges | -980 |
Intangible assets (restructuring) [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Asset Impairment Charges | ($700) |
BUSINESS_COMBINATIONS_Details
BUSINESS COMBINATIONS (Details) (Business Acquisition - GenturaDx (British Virgin Islands) [Member], USD $) | 0 Months Ended | |
In Millions, unless otherwise specified | Jul. 11, 2012 | Sep. 30, 2013 |
Business Acquisition [Line Items] | ' | ' |
Cash consideration | $49.30 | ' |
Business acquisition, amount of purchase price deposited in escrow | 8.1 | ' |
Business acquisition, amount of purchase price remaining in escrow | ' | 6 |
Percentage of milestone payments for indemnification claims | ' | 30.00% |
Future Development and Regulatory Milestone Dec 2013 [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Busines Combination, Contingent Consideration,Potential Cash Payment | 3 | ' |
Future Development and Regulatory Milestone June 2014 [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Busines Combination, Contingent Consideration,Potential Cash Payment | $7 | ' |
INVESTMENTS_Details
INVESTMENTS (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | |
Money Market Funds [Member] | Money Market Funds [Member] | Current Non-Government Sponsored Debt Securities [Member] | Current Non-Government Sponsored Debt Securities [Member] | Total Current Available-for-sale Securities [Member] | Total Current Available-for-sale Securities [Member] | Non-Current Non-Government Sponsored Debt Securities [Member] | Non-Current Non-Government Sponsored Debt Securities [Member] | Total Non-Current Available-for-sale Securities [Member] | Total Non-Current Available-for-sale Securities [Member] | Investment in Private Company 1 [Member] | Investment in Private Company 1 [Member] | Investment in Private Company 2 [Member] | |||||
Components of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortized Cost | $41,809,000 | ' | $41,809,000 | $33,589,000 | $36,311,000 | $16,987,000 | $5,498,000 | $13,602,000 | $41,809,000 | $30,589,000 | $0 | $3,000,000 | $0 | $3,000,000 | ' | ' | ' |
Gains in Accumulated Other Comprehensive Gain | ' | ' | 0 | 5,000 | 0 | 0 | 0 | 5,000 | 0 | 5,000 | 0 | 0 | 0 | 0 | ' | ' | ' |
Losses in Accumulated Other Comprehensive Gain | ' | ' | -1,000 | 0 | 0 | 0 | -1,000 | 0 | -1,000 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Estimated Fair Value | 41,808,000 | ' | 41,808,000 | 33,594,000 | 36,311,000 | 16,987,000 | 5,497,000 | 13,607,000 | 41,808,000 | 30,594,000 | 0 | 3,000,000 | 0 | 3,000,000 | ' | ' | ' |
Available-for-sale Securities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sales of available-for-sale-securities | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net unrealized holding gain (loss) on available-for-sale securities | -1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax expense on net unrealized holding gains on available-for-sale securities included in accumulated other comprehensive income | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale securities, debt maturities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due in one year or less | 5,497,000 | ' | 5,497,000 | 13,607,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due after one year through two years | 0 | ' | 0 | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total estimated fair value of available-for-sale debt securities | 5,497,000 | ' | 5,497,000 | 16,607,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of investments in a private company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,100,000 | 1,000,000 |
Ownership percentage in cost method investment | 20.00% | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,400,000 | ' | ' |
INVENTORY_NET_Details
INVENTORY, NET (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory, Net [Abstract] | ' | ' |
Parts and supplies | $16,668 | $18,259 |
Work-in-progress | 5,928 | 4,831 |
Finished goods | 7,146 | 6,847 |
Inventory, net | $29,742 | $29,937 |
FAIR_VALUE_MEASUREMENTS_Detail
FAIR VALUE MEASUREMENTS (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
Amounts included in asset accounts [Abstract] | ' | ' | ' |
Money Market funds | $36,311,000 | ' | $16,987,000 |
Non-government sponsored debt securities | 5,497,000 | ' | 16,607,000 |
Amounts included in liability accounts [Abstract] | ' | ' | ' |
Contingent consideration | 0 | 1,200,000 | 1,370,000 |
Long-term debt | 1,500,000 | ' | 2,500,000 |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Amounts included in asset accounts [Abstract] | ' | ' | ' |
Money Market funds | 36,311,000 | ' | 16,987,000 |
Non-government sponsored debt securities | 0 | ' | 0 |
Amounts included in liability accounts [Abstract] | ' | ' | ' |
Contingent consideration | 0 | ' | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Amounts included in asset accounts [Abstract] | ' | ' | ' |
Money Market funds | 0 | ' | 0 |
Non-government sponsored debt securities | 5,497,000 | ' | 16,607,000 |
Amounts included in liability accounts [Abstract] | ' | ' | ' |
Contingent consideration | 0 | ' | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Amounts included in asset accounts [Abstract] | ' | ' | ' |
Money Market funds | 0 | ' | 0 |
Non-government sponsored debt securities | 0 | ' | 0 |
Amounts included in liability accounts [Abstract] | ' | ' | ' |
Contingent consideration | $0 | ' | $1,370,000 |
FAIR_VALUE_MEASUREMENTS_Detail1
FAIR VALUE MEASUREMENTS (Details 1) (Fair Value, Inputs, Level 3 [Member], USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Balance at beginning of year | $1,370 | $0 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 0 | 1,370 |
Fair value adjustments | -1,370 | 0 |
Balance at end of period | $0 | $1,370 |
GOODWILL_AND_OTHER_INTANGIBLE_2
GOODWILL AND OTHER INTANGIBLE ASSETS (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Jul. 11, 2012 | |
Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Business acquisition, goodwill | ' | ' | ' | ' | ' | $8,300,000 |
Business acquisition, amortizable intangible assets | ' | ' | ' | ' | ' | 40,100,000 |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | 51,128,000 | 42,763,000 | 42,763,000 | ' |
Acquisition of GenturaDx | ' | ' | 0 | ' | 8,292,000 | ' |
Foreign currency translation adjustments | ' | ' | -275,000 | ' | 73,000 | ' |
Balance at end of period | 50,853,000 | ' | 50,853,000 | ' | 51,128,000 | ' |
Finite and Indefinite-lived Intangible Assets [Roll Forward] | ' | ' | ' | ' | ' | ' |
Balance, beginning | ' | ' | 80,584,000 | 40,545,000 | 40,545,000 | ' |
Additions due to Acquisition of GenturaDx | ' | ' | ' | ' | 40,100,000 | ' |
Write Off Of In Process Research And Development Projects | ' | ' | -700,000 | ' | -118,000 | ' |
Foreign currency translation adjustments | ' | ' | -221,000 | ' | 57,000 | ' |
Balance, ending | 79,663,000 | ' | 79,663,000 | ' | 80,584,000 | ' |
Less: accumulated amortization [Abstract] | ' | ' | ' | ' | ' | ' |
Accumulated amortization, beginning balance | ' | ' | -15,366,000 | -11,108,000 | -11,108,000 | ' |
Amortization expense | -1,021,000 | -1,030,000 | -3,077,000 | -3,214,000 | -4,243,000 | ' |
Foreign currency translation adjustments | 100,000 | ' | 100,000 | ' | -15,000 | ' |
Accumulated amortization, ending balance | -18,343,000 | ' | -18,343,000 | ' | -15,366,000 | ' |
Net balance | 61,320,000 | ' | 61,320,000 | ' | 65,218,000 | ' |
Estimated aggregate amortization expense for the next five years and thereafter [Abstract] | ' | ' | ' | ' | ' | ' |
2013 (three months) | 1,019,000 | ' | 1,019,000 | ' | ' | ' |
2014 | 3,917,000 | ' | 3,917,000 | ' | ' | ' |
2015 | 3,232,000 | ' | 3,232,000 | ' | ' | ' |
2016 | 3,100,000 | ' | 3,100,000 | ' | ' | ' |
2017 | 2,144,000 | ' | 2,144,000 | ' | ' | ' |
Thereafter | 7,808,000 | ' | 7,808,000 | ' | ' | ' |
Total | 21,220,000 | ' | 21,220,000 | ' | ' | ' |
IP R&D | 40,100,000 | ' | 40,100,000 | ' | ' | ' |
Total | 61,320,000 | ' | 61,320,000 | ' | ' | ' |
In-process Research and Development [Member] | ' | ' | ' | ' | ' | ' |
Finite and Indefinite-lived Intangible Assets [Roll Forward] | ' | ' | ' | ' | ' | ' |
Balance, beginning | ' | ' | 40,627,000 | 631,000 | 631,000 | ' |
Additions due to Acquisition of GenturaDx | ' | ' | ' | ' | 40,100,000 | ' |
Write Off Of In Process Research And Development Projects | ' | ' | -459,000 | ' | -118,000 | ' |
Foreign currency translation adjustments | ' | ' | -68,000 | ' | 14,000 | ' |
Balance, ending | 40,100,000 | ' | 40,100,000 | ' | 40,627,000 | ' |
Less: accumulated amortization [Abstract] | ' | ' | ' | ' | ' | ' |
Accumulated amortization, beginning balance | ' | ' | 0 | 0 | 0 | ' |
Amortization expense | ' | ' | 0 | ' | 0 | ' |
Foreign currency translation adjustments | 0 | ' | 0 | ' | 0 | ' |
Accumulated amortization, ending balance | 0 | ' | 0 | ' | 0 | ' |
Net balance | 40,100,000 | ' | 40,100,000 | ' | 40,627,000 | ' |
Technology, Trade Secrets, and Know-how [Member] | ' | ' | ' | ' | ' | ' |
Finite and Indefinite-lived Intangible Assets [Roll Forward] | ' | ' | ' | ' | ' | ' |
Balance, beginning | ' | ' | 30,030,000 | 30,000,000 | 30,000,000 | ' |
Additions due to Acquisition of GenturaDx | ' | ' | ' | ' | 0 | ' |
Write Off Of In Process Research And Development Projects | ' | ' | -214,000 | ' | 0 | ' |
Foreign currency translation adjustments | ' | ' | -105,000 | ' | 30,000 | ' |
Balance, ending | 29,711,000 | ' | 29,711,000 | ' | 30,030,000 | ' |
Less: accumulated amortization [Abstract] | ' | ' | ' | ' | ' | ' |
Accumulated amortization, beginning balance | ' | ' | -13,193,000 | -9,999,000 | -9,999,000 | ' |
Amortization expense | ' | ' | -2,381,000 | ' | -3,187,000 | ' |
Foreign currency translation adjustments | 61,000 | ' | 61,000 | ' | -7,000 | ' |
Accumulated amortization, ending balance | -15,513,000 | ' | -15,513,000 | ' | -13,193,000 | ' |
Net balance | 14,198,000 | ' | 14,198,000 | ' | 16,837,000 | ' |
Weighted average life (in years) | ' | ' | '10 years | ' | '10 years | ' |
Customer Lists and Contracts [Member] | ' | ' | ' | ' | ' | ' |
Finite and Indefinite-lived Intangible Assets [Roll Forward] | ' | ' | ' | ' | ' | ' |
Balance, beginning | ' | ' | 7,986,000 | 7,981,000 | 7,981,000 | ' |
Additions due to Acquisition of GenturaDx | ' | ' | ' | ' | 0 | ' |
Write Off Of In Process Research And Development Projects | ' | ' | -7,000 | ' | 0 | ' |
Foreign currency translation adjustments | ' | ' | -19,000 | ' | 5,000 | ' |
Balance, ending | 7,960,000 | ' | 7,960,000 | ' | 7,986,000 | ' |
Less: accumulated amortization [Abstract] | ' | ' | ' | ' | ' | ' |
Accumulated amortization, beginning balance | ' | ' | -1,560,000 | -768,000 | -768,000 | ' |
Amortization expense | ' | ' | -591,000 | ' | -790,000 | ' |
Foreign currency translation adjustments | 14,000 | ' | 14,000 | ' | -2,000 | ' |
Accumulated amortization, ending balance | -2,137,000 | ' | -2,137,000 | ' | -1,560,000 | ' |
Net balance | 5,823,000 | ' | 5,823,000 | ' | 6,426,000 | ' |
Weighted average life (in years) | ' | ' | '11 years | ' | '11 years | ' |
Other Identifiable Intangible Assets [Member] | ' | ' | ' | ' | ' | ' |
Finite and Indefinite-lived Intangible Assets [Roll Forward] | ' | ' | ' | ' | ' | ' |
Balance, beginning | ' | ' | 1,941,000 | 1,933,000 | 1,933,000 | ' |
Additions due to Acquisition of GenturaDx | ' | ' | ' | ' | 0 | ' |
Write Off Of In Process Research And Development Projects | ' | ' | -20,000 | ' | 0 | ' |
Foreign currency translation adjustments | ' | ' | -29,000 | ' | 8,000 | ' |
Balance, ending | 1,892,000 | ' | 1,892,000 | ' | 1,941,000 | ' |
Less: accumulated amortization [Abstract] | ' | ' | ' | ' | ' | ' |
Accumulated amortization, beginning balance | ' | ' | -613,000 | -341,000 | -341,000 | ' |
Amortization expense | ' | ' | -105,000 | ' | -266,000 | ' |
Foreign currency translation adjustments | 25,000 | ' | 25,000 | ' | -6,000 | ' |
Accumulated amortization, ending balance | -693,000 | ' | -693,000 | ' | -613,000 | ' |
Net balance | 1,199,000 | ' | 1,199,000 | ' | 1,328,000 | ' |
Weighted average life (in years) | ' | ' | '9 years | ' | '9 years | ' |
Minimum [Member] | ' | ' | ' | ' | ' | ' |
Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Research and Development Expense, Estimated | ' | ' | 7,000,000 | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' | ' |
Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Research and Development Expense, Estimated | ' | ' | $10,000,000 | ' | ' | ' |
OTHER_COMPREHENSIVE_LOSS_INCOM2
OTHER COMPREHENSIVE (LOSS) INCOME (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' |
Beginning balance, December 31, 2012 | ' | ' | $1,101 | ' |
Other comprehensive (loss) income before reclassifications | ' | ' | -507 | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | -9 | ' |
Net current-period other comprehensive (loss) | 107 | 264 | -516 | 176 |
Ending balance, September 30, 2013 | 585 | ' | 585 | ' |
Available-for-sale Securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' |
Beginning balance, December 31, 2012 | ' | ' | 1 | ' |
Other comprehensive (loss) income before reclassifications | ' | ' | 8 | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | -9 | ' |
Net current-period other comprehensive (loss) | ' | ' | -1 | ' |
Ending balance, September 30, 2013 | 0 | ' | 0 | ' |
Accumulated Translation Adjustment [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' |
Beginning balance, December 31, 2012 | ' | ' | 1,100 | ' |
Other comprehensive (loss) income before reclassifications | ' | ' | -515 | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | 0 | ' |
Net current-period other comprehensive (loss) | ' | ' | -515 | ' |
Ending balance, September 30, 2013 | $585 | ' | $585 | ' |
OTHER_COMPREHENSIVE_LOSS_INCOM3
OTHER COMPREHENSIVE (LOSS) INCOME (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' |
Foreign currency translation adjustments, before tax | $106 | ' | ($515) | ' |
Foreign currency translation adjustments, tax benefit | 0 | ' | 0 | ' |
Foreign currency translation adjustments, net of tax | 106 | ' | -515 | ' |
Unrealized gains on available-for-sale investments, before tax | 1 | ' | -2 | ' |
Unrealized gains on available-for-sale investments, tax benefit | 0 | ' | 1 | ' |
Unrealized gains on available-for-sale investments, net of tax | 1 | ' | -1 | ' |
Other comprehensive (loss) income, before tax | 107 | ' | -517 | ' |
Other comprehensive (loss) income, tax benefit | 0 | ' | 1 | ' |
Other comprehensive (loss) income, net of tax | $107 | $264 | ($516) | $176 |
EARNINGS_PER_SHARE_Details
EARNINGS PER SHARE (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Numerator: | ' | ' | ' | ' |
Net income | $796 | $1,676 | $1,980 | $8,155 |
Denominator: | ' | ' | ' | ' |
Denominator for basic net income per share - weighted average common stock outstanding | 40,752 | 41,000 | 40,712 | 40,995 |
Effect of dilutive securities: stock options and awards | 1,167 | 887 | 1,059 | 1,122 |
Denominator for diluted net income per share - weighted average shares outstanding - diluted | 41,919 | 41,887 | 41,771 | 42,117 |
Basic net income per share | $0.02 | $0.04 | $0.05 | $0.20 |
Diluted net income per share | $0.02 | $0.04 | $0.05 | $0.19 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive restricted stock awards, stock options | 189 | 207 | 189 | 207 |
STOCKBASED_COMPENSATION_Detail
STOCK-BASED COMPENSATION (Details) (USD $) | 9 Months Ended |
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 |
Stock options, additional Disclosures [Abstract] | ' |
Total unrecognized compensation costs | $2.30 |
Unrecognized compensation costs, weighted average period of recognition (in years) | '1 year 10 months 28 days |
Stock Options [Member] | ' |
Stock options, outstanding [Roll Forward] | ' |
Options outstanding, beginning balance (in shares) | 1,676 |
Granted (in shares) | 159 |
Exercised (in shares) | -798 |
Cancelled or expired (in shares) | -20 |
Options outstanding, ending balance (in shares) | 1,017 |
Stock options, additional Disclosures [Abstract] | ' |
Weighted-average price, beginning of period (in dollars per share) | $12.13 |
Weighted-average price, granted (in dollars per share) | $17.24 |
Weighted average price, exercised (in dollars per share) | $8.84 |
Weighted-average price, cancelled or expired (in dollars per share) | $19 |
Weighted-average price, end of period (in dollars per share) | $15.37 |
Restricted Stock [Member] | ' |
Stock options, additional Disclosures [Abstract] | ' |
Total unrecognized compensation costs | 15.1 |
Unrecognized compensation costs, weighted average period of recognition (in years) | '3 years 1 month 28 days |
Equity instruments other than options, nonvested [Roll Forward] | ' |
Non-vested, beginning balance (in shares) | 818 |
Granted (in shares) | 354 |
Vested (in shares) | -265 |
Cancelled or expired (in shares) | -55 |
Non-vested, ending balance (in shares) | 852 |
Equity instruments other than options, additional Disclosures [Abstract] | ' |
Non-vested, beginning balance (in dollars per share) | $19.32 |
Granted (in dollars per share) | $17.28 |
Vested (in dollars per share) | $18.83 |
Cancelled or expired (in dollars per share) | $19.41 |
Non-vested, ending balance (in dollars per share) | $18.62 |
Restricted Stock Units (RSUs) [Member] | ' |
Stock options, additional Disclosures [Abstract] | ' |
Total unrecognized compensation costs | $5.30 |
Unrecognized compensation costs, weighted average period of recognition (in years) | '2 years 2 months 5 days |
Equity instruments other than options, nonvested [Roll Forward] | ' |
Non-vested, beginning balance (in shares) | 875 |
Granted (in shares) | 193 |
Vested (in shares) | -77 |
Cancelled or expired (in shares) | -155 |
Non-vested, ending balance (in shares) | 836 |
STOCKBASED_COMPENSATION_Detail1
STOCK-BASED COMPENSATION (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Cost of revenue | ' | ' | ' | ' |
Share-based Compensation, allocation and classification in income statements [Abstract] | ' | ' | ' | ' |
Stock-based compensation costs | $233 | $222 | $635 | $697 |
Research and development | ' | ' | ' | ' |
Share-based Compensation, allocation and classification in income statements [Abstract] | ' | ' | ' | ' |
Stock-based compensation costs | 675 | 520 | 1,892 | 1,507 |
Selling, general and administrative | ' | ' | ' | ' |
Share-based Compensation, allocation and classification in income statements [Abstract] | ' | ' | ' | ' |
Stock-based compensation costs | 981 | 1,596 | 4,206 | 5,348 |
Selling, general and administrative | ' | ' | ' | ' |
Share-based Compensation, allocation and classification in income statements [Abstract] | ' | ' | ' | ' |
Stock-based compensation costs | $1,889 | $2,338 | $6,733 | $7,552 |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Segment Reporting [Abstract] | ' | ' | ' | ' | ' |
Number of segments (in number of segments) | 2 | ' | 2 | ' | ' |
Intersegment sales | $2,200,000 | $2,500,000 | $7,900,000 | $8,200,000 | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 50,780,000 | 50,047,000 | 158,267,000 | 147,047,000 | ' |
Depreciation and amortization | 3,994,000 | 3,613,000 | 11,747,000 | 10,668,000 | ' |
Operating profit (loss) | -4,194,000 | 3,367,000 | -705,000 | 15,461,000 | ' |
Assets | 293,896,000 | 282,505,000 | 293,896,000 | 282,505,000 | 297,175,000 |
Technology and Strategic Partnerships [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 33,335,000 | 31,584,000 | 96,352,000 | 91,358,000 | ' |
Depreciation and amortization | 2,087,000 | 1,801,000 | 5,826,000 | 5,096,000 | ' |
Operating profit (loss) | 9,293,000 | 7,205,000 | 23,368,000 | 21,725,000 | ' |
Assets | 187,422,000 | 166,763,000 | 187,422,000 | 166,763,000 | ' |
Assays and Related Products [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 17,445,000 | 18,463,000 | 61,915,000 | 55,689,000 | ' |
Depreciation and amortization | 1,907,000 | 1,812,000 | 5,921,000 | 5,572,000 | ' |
Operating profit (loss) | -13,487,000 | -3,838,000 | -24,073,000 | -6,264,000 | ' |
Assets | $106,474,000 | $115,742,000 | $106,474,000 | $115,742,000 | ' |
ACCRUED_WARRANTY_COSTS_Details
ACCRUED WARRANTY COSTS (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Accrued warranty costs [Roll Forward] | ' |
Accrued warranty costs at December 31, 2012 | $603 |
Warranty expenses | -783 |
Accrual for warranty costs | 1,163 |
Accrued warranty costs at September 30, 2013 | $983 |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' |
Effective tax rate, including amounts recorded for discrete events (in hundredths) | ' | 66.77% |
Statutory rate (in hundredths) | ' | 35.00% |
Minimum rate for cash taxes expected to be paid (in hundredths) | ' | 15.00% |
Maximum rate for cash taxes expected to be paid (in hundredths) | ' | 20.00% |
Liability associated with its uncertain tax position | $121,000 | ' |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2013 |
Commitments and Contingencies Disclosure [Abstract] | ' |
Distribution Agreement Settlement Expense | $7 |