Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 21, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'CPHD | ' |
Entity Registrant Name | 'CEPHEID | ' |
Entity Central Index Key | '0001037760 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 67,834,531 |
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 | $68,753 | $95,779 |
Short-term investments | 5,785 | ' |
Accounts receivable, net | 42,027 | 43,999 |
Inventory | 101,582 | 70,114 |
Prepaid expenses and other current assets | 15,976 | 9,448 |
Total current assets | 234,123 | 219,340 |
Property and equipment, net | 73,744 | 54,830 |
Investments | 9,980 | ' |
Other non-current assets | 846 | 913 |
Intangible assets, net | 17,662 | 18,767 |
Goodwill | 39,681 | 37,694 |
Total assets | 376,036 | 331,544 |
Current liabilities: | ' | ' |
Accounts payable | 46,451 | 33,701 |
Accrued compensation | 18,863 | 16,540 |
Accrued royalties | 4,567 | 7,992 |
Accrued and other liabilities | 5,197 | 4,235 |
Current portion of deferred revenue | 10,866 | 9,599 |
Current portion of notes payable | 195 | 183 |
Total current liabilities | 86,139 | 72,250 |
Long-term portion of deferred revenue | 3,115 | 1,156 |
Long-term portion of notes payable | 1,566 | 1,685 |
Other liabilities | 10,006 | 8,911 |
Total liabilities | 100,826 | 84,002 |
Commitments and contingencies (Note 6) | ' | ' |
Shareholders' equity: | ' | ' |
Preferred stock, no par value; 5,000,000 shares authorized, none issued or outstanding | ' | ' |
Common stock, no par value; 100,000,000 shares authorized, 67,702,730 and 66,603,884 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively | 369,614 | 355,867 |
Additional paid-in capital | 138,593 | 117,217 |
Accumulated other comprehensive income | 249 | 56 |
Accumulated deficit | -233,246 | -225,598 |
Total shareholders' equity | 275,210 | 247,542 |
Total liabilities and shareholders' equity | $376,036 | $331,544 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | ' | ' |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | ' | ' |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 67,702,730 | 66,603,884 |
Common stock, shares outstanding | 67,702,730 | 66,603,884 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (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] | ' | ' | ' | ' |
Sales | $100,081 | $80,472 | $288,031 | $238,779 |
Costs and operating expenses: | ' | ' | ' | ' |
Cost of sales | 51,669 | 39,789 | 147,450 | 110,469 |
Collaboration profit sharing | 1,410 | 2,438 | 4,945 | 5,767 |
Research and development | 18,558 | 16,154 | 54,857 | 54,374 |
Sales and marketing | 19,788 | 15,993 | 58,019 | 45,613 |
General and administrative | 9,490 | 11,766 | 28,865 | 33,828 |
Litigation settlement | ' | 15,110 | ' | 15,110 |
Total costs and operating expenses | 100,915 | 101,250 | 294,136 | 265,161 |
Loss from operations | -834 | -20,778 | -6,105 | -26,382 |
Other income (expense): | 12 | 2 | 15 | 8 |
Interest expense, net | -34 | -96 | -106 | -113 |
Foreign currency exchange gain (loss) and other, net | -178 | 183 | -452 | -140 |
Other income (expense), net | -200 | 89 | -543 | -245 |
Loss before income taxes | -1,034 | -20,689 | -6,648 | -26,627 |
Benefit from (provision for) income taxes | -347 | -607 | -1,000 | 940 |
Net loss | ($1,381) | ($21,296) | ($7,648) | ($25,687) |
Basic net loss per share | ($0.02) | ($0.32) | ($0.11) | ($0.39) |
Diluted net loss per share | ($0.02) | ($0.32) | ($0.11) | ($0.39) |
Shares used in computing basic net loss per share | 67,573 | 66,145 | 67,234 | 65,624 |
Shares used in computing diluted net loss per share | 67,573 | 66,145 | 67,234 | 65,624 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net loss | ($1,381) | ($21,296) | ($7,648) | ($25,687) |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | 140 |
Unrealized gains and losses related to cash flow hedges: | ' | ' | ' | ' |
Gain/(loss) recognized in other comprehensive income | 304 | -570 | 441 | -570 |
(Gain) reclassified from accumulated comprehensive income to the statement of operations | -141 | ' | -238 | ' |
Unrealized gain related to available-for-sale investments, net | 10 | ' | 10 | ' |
Comprehensive loss | ($1,208) | ($21,866) | ($7,435) | ($26,117) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net loss | ($7,648) | ($25,687) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization of property and equipment | 12,904 | 9,867 |
Amortization of intangible assets | 4,278 | 3,745 |
Unrealized foreign exchange differences | 307 | ' |
Stock-based compensation related to employees and consulting services rendered | 20,017 | 17,932 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 3,216 | 6,447 |
Inventory | -30,044 | -4,014 |
Prepaid expenses and other current assets | -6,799 | -5,259 |
Other non-current assets | 263 | -46 |
Accounts payable and other current liabilities | 9,767 | -2,278 |
Accrued compensation | 2,276 | -2,044 |
Deferred revenue | 3,211 | 1,105 |
Net cash provided by (used in) operating activities | 11,748 | -232 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -31,005 | -17,079 |
Payments for technology licenses | -1,125 | -2,140 |
Cost of acquisitions, net | -3,571 | -17,462 |
Purchase of marketable securities and investments | -15,770 | ' |
Net cash used in investing activities | -51,471 | -36,681 |
Cash flows from financing activities: | ' | ' |
Net proceeds from the issuance of common shares and exercise of stock options | 13,746 | 26,404 |
Proceeds from notes payable | ' | 156 |
Principal payment of notes payable | -828 | -39 |
Net cash provided by financing activities | 12,918 | 26,521 |
Effect of foreign exchange rate change on cash and cash equivalents | -221 | -1,096 |
Net decrease in cash and cash equivalents | -27,026 | -11,488 |
Cash and cash equivalents at beginning of period | 95,779 | 115,008 |
Cash and cash equivalents at end of period | $68,753 | $103,520 |
Organization_and_Summary_of_Si
Organization and Summary of Significant Accounting Policies | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Organization and Summary of Significant Accounting Policies | ' | ||||||||||||||||
1. Organization and Summary of Significant Accounting Policies | |||||||||||||||||
Organization and Basis of Presentation | |||||||||||||||||
Cepheid (the “Company”) was incorporated in the State of California on March 4, 1996. The Company is a molecular diagnostics company that develops, manufactures and markets fully-integrated systems for testing in the Clinical market, as well as for application in the Company’s legacy Non-Clinical market. The Company’s systems enable rapid, sophisticated molecular testing for organisms and genetic-based diseases by automating otherwise complex manual laboratory procedures. | |||||||||||||||||
The Condensed Consolidated Balance Sheet at September 30, 2013, the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2013 and 2012, the Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2013 and 2012 and the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2013 and 2012 are unaudited. In the opinion of management, these condensed consolidated financial statements reflect all normal recurring adjustments that management considers necessary for a fair presentation of the Company’s financial position at such dates and the operating results and cash flows for those periods. The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S.”). However, certain information or footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The results of operations for such periods are not necessarily indicative of the results expected for the remainder of 2013 or for any future period. The Condensed Consolidated Balance Sheet as of December 31, 2012 is derived from audited financial statements as of that date but does not include all of the information and footnotes required by accounting principles generally accepted in the U.S. for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012. Within the Condensed Consolidated Statements of Operations, the Condensed Consolidated Statements of Cash Flows and Note 3, “Segment and Significant Concentrations”, certain amounts have been reclassified to conform to the current period presentation. | |||||||||||||||||
Use of Estimates | |||||||||||||||||
The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates. | |||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
The Company defines fair value 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. The Company’s valuation techniques used to measure fair value maximized the use of observable inputs and minimized the use of unobservable inputs. The fair value hierarchy is based on the following three levels of inputs: | |||||||||||||||||
• | 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. | ||||||||||||||||
See Note 8, “Fair Value”, for information and related disclosures regarding the Company’s fair value measurements. | |||||||||||||||||
Investments | |||||||||||||||||
All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents. The Company’s marketable debt securities have been classified and accounted for as available-for-sale. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates the designations at each balance sheet date. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable debt securities with maturities of 12 months or less are classified as short-term and marketable debt securities with maturities greater than 12 months are classified as long-term. The Company’s marketable debt securities are carried at fair value, with the unrealized gains and losses reported as a component of shareholders’ equity. The cost of securities sold is based upon the specific identification method. | |||||||||||||||||
We assess whether an other-than-temporary impairment loss on our investments has occurred due to declines in fair value or other market conditions. With respect to our debt securities, this assessment takes into account the severity and duration of the decline in value, our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis, and if we do not expect to recover the entire amortized cost basis of the security (that is, a credit loss exists). | |||||||||||||||||
See Note 7, “Investments”, for information and related disclosures regarding the Company’s investments. | |||||||||||||||||
Inventory | |||||||||||||||||
Inventory is stated at the lower of standard cost (which approximates actual cost) or market cost, with cost determined on the first-in-first-out method. Accordingly, allocation of fixed production overheads to conversion costs is based on normal capacity of production. Abnormal amounts of idle facility expense, freight, handling costs and spoilage are expensed as incurred and not included in overhead. In addition, unrecognized stock-based compensation cost of $2.5 million and $1.1 million was included in inventory as of September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||
The following table summarizes the components of inventory (in thousands): | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Raw Materials | $ | 35,962 | $ | 26,041 | |||||||||||||
Work in Process | 35,245 | 30,113 | |||||||||||||||
Finished Goods | 30,375 | 13,960 | |||||||||||||||
Inventory | $ | 101,582 | $ | 70,114 | |||||||||||||
Revenue Recognition | |||||||||||||||||
The Company recognizes revenue from sales when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable and collectability is reasonably assured. No right of return exists for the Company’s products except in the case of damaged goods. The Company has not experienced any significant returns of its products. Shipping and handling costs are expensed as incurred and included in cost of sales. In those cases where the Company bills shipping and handling costs to customers, the amounts billed are classified as sales. | |||||||||||||||||
The Company enters into revenue arrangements that may consist of multiple deliverables of its products and services. In situations with multiple deliverables, revenue is recognized upon the delivery of the separate elements. The Company sells service contracts for which revenue is deferred and recognized ratably over the contract period. | |||||||||||||||||
System and other sales includes fees for technology licenses and research and development services, including research and development under grants and government sponsored research, royalties under license and collaboration agreements. Fees for technology licenses are generally fully recognized only after the license period has commenced, the technology has been delivered and no further involvement of the Company is required. When the Company has continuing involvement related to a technology license, revenue is recognized over the license term. Revenue related to research and development services is recognized as the related service is performed based on the performance requirements of the relevant contract and recoverability is reasonably assured. Under such agreements, the Company is required to perform specific research and development activities and is compensated either based on the costs or costs plus a mark-up associated with each specific contract over the term of the agreement or based on the Company’s progress to completion. Royalties are typically based on licensees’ net sales of products that utilize the Company’s technology, and royalty revenues are recognized as earned in accordance with the contract terms when the royalties can be reliably measured and their collectability is reasonably assured, such as upon the receipt of a royalty statement from the customer. | |||||||||||||||||
Advance payments received in excess of amounts earned, such as funds received in advance of products to be delivered or services to be performed, are classified as deferred revenue until earned. | |||||||||||||||||
Net Loss per Share | |||||||||||||||||
Basic net loss per share is computed by dividing net loss for the period by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss for the period by the weighted average number of common and common equivalent shares outstanding during the period. Potentially dilutive common shares consist of incremental common shares issuable upon exercise of stock options, employee stock purchases, restricted stock awards and restricted stock units. The Company excludes stock options from the calculation of diluted net loss per share when the combined exercise price and average unamortized fair values are greater than the average market price for the Company’s common stock because their effect is anti-dilutive. These anti-dilutive common stock equivalent shares totaled 5,520,000 and 5,269,000 for the three months ended September 30, 2013 and 2012, respectively, and 5,463,000 and 5,212,000 for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||
The following summarizes the computation of basic and diluted loss per share (in thousands, except for per share amounts): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Basic: | |||||||||||||||||
Net loss | $ | (1,381 | ) | $ | (21,296 | ) | $ | (7,648 | ) | $ | (25,687 | ) | |||||
Basic weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 | |||||||||||||
Net loss per share | (0.02 | ) | $ | (0.32 | ) | $ | (0.11 | ) | $ | (0.39 | ) | ||||||
Diluted: | |||||||||||||||||
Net loss | $ | (1,381 | ) | $ | (21,296 | ) | $ | (7,648 | ) | $ | (25,687 | ) | |||||
Basic weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 | |||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Stock options, ESPP, restricted stock units and restricted stock awards | — | — | — | — | |||||||||||||
Diluted weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 | |||||||||||||
Net loss per share | $ | (0.02 | ) | $ | (0.32 | ) | $ | (0.11 | ) | $ | (0.39 | ) | |||||
Recent Accounting Pronouncements | |||||||||||||||||
In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-2, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-2), that requires an organization to present the effects on the line items of net income of significant amounts reclassified out of Accumulated Other Comprehensive Income, but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. ASU 2013-2 is effective for fiscal years beginning after December 15, 2012. The Company adopted ASU No. 2013-02 on January 1, 2013 on a prospective basis. The adoption had no material effect on the Company’s financial position or results of operations. | |||||||||||||||||
In July 2013, the FASB issued new accounting guidance on the financial statement presentation of unrecognized tax benefits. The new update provides that a liability related to an unrecognized tax benefit would be presented as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, if such settlement is required or expected in the event the uncertain tax position is disallowed. The new guidance becomes effective for the Company on January 1, 2014 and it should be applied prospectively to unrecognized tax benefits that exist at the effective date with retrospective application permitted. The Company does not expect this new accounting update to have a significant impact on the Company’s consolidated financial position, or results of operations. |
Intangible_Assets_and_Goodwill
Intangible Assets and Goodwill | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Intangible Assets and Goodwill | ' | ||||||||||||
2. Intangible Assets and Goodwill | |||||||||||||
Intangible assets related to licenses are recorded at cost, less accumulated amortization. Intangible assets related to technology and other intangible assets acquired in acquisitions are recorded at fair value at the date of acquisition, less accumulated amortization. Intangible assets are amortized over their estimated useful lives, ranging from 3 to 20 years, on a straight-line basis. Amortization of intangible assets is primarily included in cost of sales in the accompanying condensed consolidated statements of operations. | |||||||||||||
The following table summarizes the recorded value and accumulated amortization of major classes of intangible assets (in thousands): | |||||||||||||
Balance, September 30, 2013: | Gross Carrying | Accumulated | Net Carrying | ||||||||||
Amount | Amortization | Amount | |||||||||||
Licenses | $ | 28,577 | $ | (21,064 | ) | $ | 7,513 | ||||||
Technology acquired in acquisitions | 8,613 | (7,217 | ) | 1,396 | |||||||||
Customer relationships and other intangible assets acquired in acquisitions | 15,748 | (6,995 | ) | 8,753 | |||||||||
$ | 52,938 | $ | (35,276 | ) | $ | 17,662 | |||||||
Balance, December 31, 2012 | Gross Carrying | Accumulated | Net Carrying | ||||||||||
Amount | Amortization | Amount | |||||||||||
Licenses | $ | 27,452 | $ | (19,464 | ) | $ | 7,988 | ||||||
Technology acquired in acquisitions | 8,613 | (6,843 | ) | 1,770 | |||||||||
Customer relationships and other intangible assets acquired in acquisitions | 13,700 | (4,691 | ) | 9,009 | |||||||||
$ | 49,765 | $ | (30,998 | ) | $ | 18,767 | |||||||
During the nine months ended September 30, 2013, the Company purchased an Italian distributor and acquired certain assets of another company. These transactions had a total purchase price of $4.0 million, of which $3.6 million was paid in cash and $0.2 million in outstanding payables, with the remaining $0.2 million being contingent consideration to be paid over time. These transactions were part of the ongoing expansion of the Company’s international distribution network for its equipment and reagents. A summary of the fair value of the assets acquired and the liabilities assumed is as follows: acquired intangible assets of $2.1 million, property and equipment, inventory and other assets, net of liabilities, of $0.2 million and goodwill of $1.5 million. | |||||||||||||
Amortization expense of intangible assets was $1.1 million and $1.1 million for the three months ended September 30, 2013 and 2012, respectively, and $4.3 million and $3.7 million for the nine months ended September 30, 2013 and 2012, respectively. The following table summarizes the expected future annual amortization expense of intangible assets recorded on the Company’s Condensed Consolidated Balance Sheet as of September 30, 2013, assuming no impairment charges (in thousands): | |||||||||||||
For the Years Ending December 31 | Amortization | ||||||||||||
Expense | |||||||||||||
2013 (remaining three months) | $ | 1,316 | |||||||||||
2014 | 4,375 | ||||||||||||
2015 | 3,435 | ||||||||||||
2016 | 2,476 | ||||||||||||
2017 | 2,097 | ||||||||||||
Thereafter | 3,963 | ||||||||||||
Total expected future amortization | $ | 17,662 | |||||||||||
Segment_and_Significant_Concen
Segment and Significant Concentrations | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment and Significant Concentrations | ' | ||||||||||||||||
3. Segment and Significant Concentrations | |||||||||||||||||
The Company and its wholly owned subsidiaries operate in one business segment. | |||||||||||||||||
The following table summarizes total sales by type (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Sales: | |||||||||||||||||
Systems and other sales | $ | 19,694 | $ | 15,905 | $ | 54,500 | $ | 48,235 | |||||||||
Reagent and disposable sales | 80,387 | 64,567 | 233,531 | 190,544 | |||||||||||||
Total sales | $ | 100,081 | $ | 80,472 | $ | 288,031 | $ | 238,779 | |||||||||
The following table summarizes sales in the Clinical and Non-Clinical markets (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Sales by market: | |||||||||||||||||
Clinical Systems | $ | 17,484 | $ | 13,049 | $ | 46,732 | $ | 39,440 | |||||||||
Clinical Reagents | 74,367 | 54,527 | 212,188 | 164,727 | |||||||||||||
Total Clinical | 91,851 | 67,576 | 258,920 | 204,167 | |||||||||||||
Non-Clinical | 8,230 | 12,896 | 29,111 | 34,612 | |||||||||||||
Total sales | $ | 100,081 | $ | 80,472 | $ | 288,031 | $ | 238,779 | |||||||||
The Company currently sells products through its direct sales force and through third-party distributors. There were no customers that accounted for 10% or more of total sales for the three or nine months ended September 30, 2013 and 2012. There were no customers whose accounts receivable balance represented 10% or more of total accounts receivable as of September 30, 2013 or December 31, 2012, respectively. The Company has distribution agreements with companies to distribute products in the U.S. and has several regional distribution arrangements throughout Europe, Japan, China, South America and other parts of the world. | |||||||||||||||||
The following table summarizes sales by geographic region (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Geographic sales information: | |||||||||||||||||
North America | |||||||||||||||||
Clinical | $ | 51,659 | $ | 42,726 | $ | 153,729 | $ | 135,692 | |||||||||
Non-Clinical | 7,083 | 11,496 | 25,937 | 29,856 | |||||||||||||
Total North America | 58,742 | 54,222 | 179,666 | 165,548 | |||||||||||||
International | |||||||||||||||||
Clinical | $ | 40,192 | $ | 24,850 | $ | 105,191 | $ | 68,475 | |||||||||
Non-Clinical | 1,147 | 1,400 | 3,174 | 4,756 | |||||||||||||
Total International | 41,339 | 26,250 | 108,365 | 73,231 | |||||||||||||
Total sales | $ | 100,081 | $ | 80,472 | $ | 288,031 | $ | 238,779 | |||||||||
The Company recognized sales of $58.4 million and $51.7 million to U.S. customers for the three months ended September 30, 2013 and 2012, respectively, and $173.0 million and $157.1 million for the nine months ended September 30, 2013 and 2012, respectively. The Company recognized sales of $11.7 million and $7.8 million in South Africa for the three months ended September 30, 2013 and 2012, respectively, and $31.0 million and $14.9 million for the nine months ended September 30, 2013 and 2012, respectively. Other than South Africa, no other single country outside the United States represented more than 10% of the Company’s total sales or total assets in any period presented. As of September 30, 2013 and December 31, 2012, the Company has long lived-assets of $51.9 million and $36.6 million, respectively, which reside in the U.S. As of September 30, 2013 and December 31, 2012, the Company has long-lived assets of $21.9 million and $18.2 million, respectively, located outside of the U.S., which reside primarily in Sweden and countries in the European Union. |
Employee_Equity_Incentive_Plan
Employee Equity Incentive Plans and Stock-Based Compensation Expense | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Employee Equity Incentive Plans and Stock-Based Compensation Expense | ' | ||||||||||||||||
4. Employee Equity Incentive Plans and Stock-Based Compensation Expense | |||||||||||||||||
The following table summarizes stock-based compensation expense in the condensed consolidated statements of operations (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of sales | $ | 461 | $ | 915 | $ | 1,842 | $ | 2,279 | |||||||||
Research and development | 2,256 | 1,753 | 6,158 | 5,207 | |||||||||||||
Sales and marketing | 1,698 | 1,431 | 4,075 | 3,871 | |||||||||||||
General and administrative | 2,796 | 2,266 | 7,942 | 6,575 | |||||||||||||
Total stock-based compensation expense | $ | 7,211 | $ | 6,365 | $ | 20,017 | $ | 17,932 | |||||||||
The following table summarizes option activity under all plans (in thousands, except weighted average exercise price and weighted average remaining contractual term): | |||||||||||||||||
Shares | Weighted | Weighted Average | Aggregate | ||||||||||||||
Average | Remaining | Instrinic Value | |||||||||||||||
Exercise Price | Contractual Term | ||||||||||||||||
Outstanding, December 31, 2012 | 6,810 | $ | 21.81 | ||||||||||||||
Granted | 1,378 | $ | 37.92 | ||||||||||||||
Exercised | (762 | ) | $ | 14.2 | |||||||||||||
Forfeited | (282 | ) | $ | 31.94 | |||||||||||||
Outstanding, September 30, 2013 | 7,144 | $ | 25.33 | 3.74 | $ | 98,121 | |||||||||||
Exercisable, September 30, 2013 | 4,557 | $ | 19.66 | 2.59 | $ | 88,386 | |||||||||||
Vested and expected to vest, September 30, 2013 | 6,887 | $ | 24.9 | 3.65 | $ | 97,494 | |||||||||||
The following table summarizes restricted stock plan activity, which consists of restricted stock awards and restricted stock units (in thousands, except weighted average grant date fair values): | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
Average | |||||||||||||||||
Grant Date | |||||||||||||||||
Fair Values | |||||||||||||||||
Outstanding, December 31, 2012 | 642 | $ | 29.74 | ||||||||||||||
Granted | 388 | 37.88 | |||||||||||||||
Vested/Released | (192 | ) | 31.05 | ||||||||||||||
Cancelled | (48 | ) | 33.89 | ||||||||||||||
Outstanding, September 30, 2013 | 790 | $ | 33.17 | ||||||||||||||
The following table summarizes the assumptions used in determining the fair value of the Company’s stock options granted to employees and shares purchased by employees under the Employee Stock Purchase Plan (“ESPP”): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
OPTION SHARES: | |||||||||||||||||
Expected Term (in years) | 4.42 | 4.37 | 4.41 | 4.38 | |||||||||||||
Volatility | 0.43 | 0.53 | 0.42 | 0.53 | |||||||||||||
Expected Dividends | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||
Risk Free Interest Rates | 1.55 | % | 0.63 | % | 0.83 | % | 0.81 | % | |||||||||
Estimated Forfeitures | 7.61 | % | 7.63 | % | 7.61 | % | 7.63 | % | |||||||||
Weighted Average Fair Value Per Share | $ | 13.27 | $ | 16.4 | $ | 13.93 | $ | 15.73 | |||||||||
ESPP SHARES: | |||||||||||||||||
Expected Term (in years) | 1.25 | 1.25 | 1.25 | 1.25 | |||||||||||||
Volatility | 0.39 | 0.54 | 0.42 | 0.54 | |||||||||||||
Expected Dividends | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||
Risk Free Interest Rates | 0.2 | % | 0.19 | % | 0.19 | % | 0.18 | % | |||||||||
Weighted Average Fair Value Per Share | $ | 11.42 | $ | 12.17 | $ | 12.1 | $ | 13.13 |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
5. Income Taxes | |
The income tax provision of $0.3 million and $1.0 million for the three and nine months ended September 30, 2013, respectively, relates primarily to ordinary tax expense of the Company’s foreign subsidiaries, partially offset by a tax benefit for research and development tax credits associated with the Company’s French subsidiary and the amortization of acquired intangibles in Sweden and South Africa. | |
The income tax provision of $0.6 million for the three months ended September 30, 2012 related primarily to tax expense of the Company’s foreign subsidiaries, offset by research and development tax credits and net operating losses associated with the Company’s French subsidiary and the amortization of acquired intangibles in various foreign subsidiaries. The income tax benefit of $0.9 million for the nine months ended September 30, 2012 related primarily to the release of a valuation allowance in the Company’s Swedish subsidiary, research and development tax credits and net operating losses associated with the Company’s French subsidiary, and the amortization of acquired intangibles in various foreign subsidiaries, offset by the ordinary tax expense of the Company’s various foreign subsidiaries. | |
The Company utilizes the liability method of accounting for income taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities using enacted tax rates. The Company’s position is to record a valuation allowance when it is more likely than not that some of the deferred tax assets will not be realized. Based on all available objective evidence, the Company believes that it is more likely than not that the net U.S. deferred tax assets will not be fully realized. Accordingly, the Company continues to maintain a full valuation allowance on its U.S. deferred tax assets and will do so until there is sufficient evidence to support the reversal of all or some portion of this valuation allowance. | |
For federal income tax purposes, the Company has open tax years extending from 1996 through 2012 due to net operating loss carryforwards relating to these years. Substantially all material state, local and foreign income tax matters have been concluded for years through December 31, 2002. For California state income tax purposes, the Company has open years from 2000 through 2012 due to either research credit carryovers or net operating loss carryforwards. | |
The Company anticipates that the total unrecognized tax benefits will not significantly change within the next 12 months due to the settlement of audits and the expiration of statutes of limitations. | |
The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. For the periods presented, the amount of any interest or penalties related to uncertain tax positions was not material. |
Commitments_and_contingencies
Commitments and contingencies | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and contingencies | ' | ||||
6. Commitments and contingencies | |||||
Purchase Commitments | |||||
The following table summarizes the Company’s purchase commitments at September 30, 2013 (in thousands): | |||||
Years Ending December 31, | Purchase Commitments | ||||
2013 (remaining three months) | $ | 5,546 | |||
2014 | 17,892 | ||||
2015 | 1,944 | ||||
2016 | 1,716 | ||||
2017 | 1,716 | ||||
Thereafter | — | ||||
Total minimum payments | $ | 28,814 | |||
Purchase commitments include purchase orders or contracts for the purchase of raw materials used in the manufacturing of the Company’s systems and reagents. | |||||
Legal Matters | |||||
In May 2005, the Company entered into a license agreement with Roche that provided it with rights under a broad range of Roche patents, including patents relating to the PCR process, reverse transcription-based methods, nucleic acid quantification methods, real-time PCR detection process and composition, and patents relating to methods for detection of viral and cancer targets. A number of the licensed patents expired in the U.S. prior to the end of August of 2010 and in Europe prior to the end of August of 2011. In August 2010, the Company terminated its license to U.S. Patent No. 5,804,375 (the “375 Patent”) and ceased paying U.S.-related royalties. The Company terminated the entire license agreement in the fourth quarter of 2011. In August 2011, Roche initiated an arbitration proceeding against the Company in the International Chamber of Commerce pursuant to the terms of the terminated agreement. The Company filed an answer challenging arbitral jurisdiction over the issues submitted by Roche and denying that it violated any provision of the agreement. A three-member panel has been convened to address these issues in confidential proceedings. On July 30, 2013, the panel determined that it had jurisdiction to decide the claims, a determination that the Company has appealed to the Swiss Federal Supreme Court. On October 2, 2013 the arbitration panel determined that it will proceed with the arbitration while this appeal is pending. | |||||
Management believes that it is reasonably possible that these legal proceedings could result in a material loss (i.e. the chance of the event occurring is more than remote but less than likely). However, given the nature of arbitration and the nature of the claims in this matter, the Company is unable to estimate the amount of such possible loss. | |||||
On August 21, 2012, the Company filed a lawsuit against Roche Molecular Systems, Inc. and F. Hoffman-La Roche Ltd, for a declaratory judgment of (a) invalidity, expiration and non-infringement of the ‘375 patent; and (b) invalidity, unenforceability, expiration and non-infringement of U.S. Patent No. 6,127,155 (the “155 Patent”). On January 17, 2013, the court issued an order granting a motion by Roche to stay the suit with respect to the ‘375 patent pending resolution of the above noted arbitration proceeding. In the same order, the court dismissed the Company’s suit with respect to the ‘155 patent for lack of subject matter jurisdiction, without considering or ruling on the merits of the Company’s case. The court left open the possibility that the Company could re-file its case against the ‘155 patent in the future. The Company believes that the possibility that these legal proceedings will result in a material loss is remote. | |||||
The Company may be subject to additional various claims, complaints and legal actions that arise from time to time in the normal course of business. Other than as described above, the Company believes that the possibility that any of the pending legal proceedings in which it is currently a party will result in a material loss is remote. There can be no assurance that existing or future legal proceedings arising in the ordinary course of business or otherwise will not have a material adverse effect on the Company’s business, consolidated financial position, results of operations or cash flows. | |||||
The Company responds to claims arising in the ordinary course of business. Should the Company not be able to secure the terms it expects, the above estimates may change and will be recognized in the period in which they are identified. Although the ultimate outcome of such claims is not presently determinable, the Company believes that the resolution of these matters will not have a material adverse effect on the Company’s financial position, results of operations and cash flows. |
Investments
Investments | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments Schedule [Abstract] | ' | ||||||||||||||||||||||||
Investments | ' | ||||||||||||||||||||||||
7. Investments | |||||||||||||||||||||||||
During the three months ended September 30, 2013, the Company initiated a program to purchase marketable securities. The Company’s marketable securities as of September 30, 2013 and December 31, 2012 were classified as available-for-sale securities, with changes in fair value recognized in stockholders’ equity as other comprehensive loss. Classification of marketable securities as a current asset is based on the intended holding period and realizability of the investment. | |||||||||||||||||||||||||
The following tables summarize available-for-sale marketable securities at September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||||||
Balance as of September 30, 2013: | |||||||||||||||||||||||||
Cost | Gross Unrealized | Gross Unrealized | Estimated Fair | ||||||||||||||||||||||
Gain | Loss | Value | |||||||||||||||||||||||
Short-term investments: | |||||||||||||||||||||||||
Commercial paper | $ | 8,005 | $ | 1 | $ | — | $ | 8,006 | |||||||||||||||||
Corporate debt securities | 1,889 | — | (1 | ) | 1,888 | ||||||||||||||||||||
Amounts classified as cash equivalents | (4,109 | ) | — | — | (4,109 | ) | |||||||||||||||||||
Total short-term investments | $ | 5,785 | $ | 1 | $ | (1 | ) | $ | 5,785 | ||||||||||||||||
Investments: | |||||||||||||||||||||||||
United States government securities | 2,987 | 5 | — | 2,992 | |||||||||||||||||||||
Government agency securities | 3,806 | 2 | — | 3,808 | |||||||||||||||||||||
Corporate debt securities | 2,427 | 3 | — | 2,430 | |||||||||||||||||||||
Other | 750 | — | — | 750 | |||||||||||||||||||||
Total investments | $ | 9,970 | $ | 10 | $ | — | $ | 9,980 | |||||||||||||||||
Balance as of December 31, 2012: | |||||||||||||||||||||||||
Cost | Gross Unrealized | Gross Unrealized | Estimated Fair | ||||||||||||||||||||||
Gain | Loss | Value | |||||||||||||||||||||||
Short-term investments: | |||||||||||||||||||||||||
Corporate debt securities | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Commercial paper | — | — | — | — | |||||||||||||||||||||
Amounts classified as cash equivalents | — | — | — | — | |||||||||||||||||||||
Total short-term investments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Investments: | |||||||||||||||||||||||||
United States government securities | — | — | — | — | |||||||||||||||||||||
Government agency securities | — | — | — | — | |||||||||||||||||||||
Corporate debt securities | — | — | — | — | |||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||
Total investments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
No proceeds from sales of marketable securities were collected for the three or nine months ended September 30, 2013 nor for the three or nine months ended September 30, 2012. The Company determines gains and losses from sales of marketable securities based on specific identification of the securities sold. Gross realized gains and losses from sales of marketable securities, all of which are reported as a component of “Foreign currency exchange gain (loss) and other, net” in the consolidated statements of operations, were for the three and nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Gross realized gains | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Gross realized losses | — | — | — | — | |||||||||||||||||||||
Realized gains (losses)—net | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
The fair value of the Company’s marketable securities with unrealized losses at September 30, 2013 and December 31, 2012, and the duration of time that such losses had been unrealized (in thousands) were: | |||||||||||||||||||||||||
Balance at September 30, 2013: | |||||||||||||||||||||||||
Less Than 12 months | More than 12 months | Total | |||||||||||||||||||||||
Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||||
Corporate debt securities | $ | 1,386 | $ | (1 | ) | $ | 562 | $ | — | $ | 1,948 | $ | (1 | ) | |||||||||||
Commercial paper | 849 | — | — | — | 849 | — | |||||||||||||||||||
Total | $ | 2,235 | $ | (1 | ) | $ | 562 | $ | — | $ | 2,797 | $ | (1 | ) | |||||||||||
Balance at December 31, 2012: | |||||||||||||||||||||||||
Less Than 12 months | More than 12 months | Total | |||||||||||||||||||||||
Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||||
Corporate debt securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Commercial paper | — | — | — | — | — | — | |||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
The Company has evaluated such securities, which primarily consist of investments in corporate debt securities and commercial paper, as of September 30, 2013 and has determined that there was no indication of other-than-temporary impairments. This determination was based on several factors, including the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the debt issuer, and the Company’s intent and ability to hold the corporate securities for a period of time sufficient to allow for any anticipated recovery in market value. | |||||||||||||||||||||||||
The following table summarizes the amortized cost and estimated fair value of available-for-sale debt securities at September 30, 2013, by contractual maturity: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Amortized Cost | Estimated Fair Value | Amortized Cost | Estimated Fair Value | ||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
Mature in one year or less | $ | 5,785 | $ | 5,785 | $ | — | $ | — | |||||||||||||||||
Mature after one year through three years | 9,970 | 9,980 | — | — | |||||||||||||||||||||
Mature in more than three years | — | — | — | — | |||||||||||||||||||||
Total debt securities | 15,755 | 15,765 | — | — | |||||||||||||||||||||
Securities with no contractual maturity | — | — | — | — | |||||||||||||||||||||
Total | $ | 15,755 | $ | 15,765 | $ | — | $ | — | |||||||||||||||||
Fair_Value
Fair Value | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value | ' | ||||||||||||||||
8. Fair Value | |||||||||||||||||
The following table summarizes the fair value hierarchy for the Company’s financial assets (cash equivalents, short-term investments and long-term investments) and financial liabilities (foreign currency derivatives and contingent payment) measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||
Balance as of September 30, 2013: | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 64,894 | $ | 3,859 | $ | — | 68,753 | ||||||||||
Short-term investments: | |||||||||||||||||
Corporate debt securities | — | 1,888 | — | 1,888 | |||||||||||||
Commercial paper | — | 3,897 | — | 3,897 | |||||||||||||
Total short-term investments | — | 5,785 | — | 5,785 | |||||||||||||
Foreign currency derivatives | — | 1,119 | — | 1,119 | |||||||||||||
Investments: | |||||||||||||||||
United States government securities | — | 2,992 | — | 2,992 | |||||||||||||
Government agency securities | — | 3,808 | — | 3,808 | |||||||||||||
Corporate debt securities | — | 2,430 | — | 2,430 | |||||||||||||
Other | — | 750 | — | 750 | |||||||||||||
Total investments | — | 9,980 | — | 9,980 | |||||||||||||
Total | $ | 64,894 | $ | 20,743 | $ | — | $ | 85,637 | |||||||||
Liabilities: | |||||||||||||||||
Foreign currency derivatives | $ | — | $ | 1,167 | $ | — | $ | 1,167 | |||||||||
Contingent consideration | — | — | 379 | 379 | |||||||||||||
Total | $ | — | $ | 1,167 | $ | 379 | $ | 1,546 | |||||||||
Balance as of December 31, 2012: | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Cash | $ | 84,906 | $ | — | $ | — | $ | 84,906 | |||||||||
Cash equivalents—money market funds | 10,873 | — | — | 10,873 | |||||||||||||
Foreign currency derivatives | — | 1,458 | — | 1,458 | |||||||||||||
Total | $ | 95,779 | $ | 1,458 | $ | — | $ | 97,237 | |||||||||
Liabilities: | |||||||||||||||||
Foreign currency derivatives | $ | — | $ | 1,572 | $ | — | $ | 1,572 | |||||||||
Contingent consideration | — | — | 550 | 550 | |||||||||||||
Total | $ | — | $ | 1,572 | $ | 550 | $ | 2,122 | |||||||||
The Company utilized levels 1 and 2 to value its financial assets on a recurring basis. Level 1 instruments use quoted prices in active markets for identical assets or liabilities, which include the Company’s cash accounts, short-term deposits and money market funds as these specific assets are liquid. Level 2 instruments are valued using the market approach which uses 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 2 instruments include commercial paper, corporate obligations, United States government securities, government agency securities and asset-backed securities as similar or identical instruments can be found in active markets. | |||||||||||||||||
The Company recorded derivative assets and liabilities at fair value. The Company’s derivatives consist of foreign exchange forward contracts. The Company has elected to use the income approach to value the derivatives, using observable Level 2 market expectations at the measurement date and standard valuation techniques to convert future amounts to a single present amount assuming that participants are motivated, but not compelled to transact. | |||||||||||||||||
Level 2 inputs for the valuations are limited to quoted prices for similar assets or liabilities in active markets (specifically foreign currency spot rate and forward points) and inputs other than quoted prices that are observable for the asset or liability (specifically LIBOR rates, credit default spot rates, and company specific LIBOR spread). Mid-market pricing is used as a practical expedient for fair value measurements. The fair value measurement of an asset or liability must reflect the nonperformance risk of the entity and the counterparty. Therefore, the impact of the counterparty’s creditworthiness when in an asset position and the Company’s creditworthiness when in a liability position has also been factored into the fair value measurement of the derivative instruments and did not have a material impact on the fair value of these derivative instruments. Both the counterparty and the Company are expected to continue to perform under the contractual terms of the instruments. | |||||||||||||||||
Level 3 liabilities, consisting of contingent payments to be made in connection with the acquisition of a company in 2012 and an acquisition of certain assets in 2013, are valued by applying the income approach and are based on significant unobservable inputs that are supported by little or no market activity. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||||||||||
9. Derivative Financial Instruments | |||||||||||||||||||||||||||
The Company uses derivatives to partially offset its business exposure to foreign currency exchange risk. The Company may enter into foreign currency forward contracts to offset some of the foreign exchange risk on expected future cash flows on certain forecasted revenue and cost of sales and on certain existing assets and liabilities. | |||||||||||||||||||||||||||
To help protect gross margins from fluctuations in foreign currency exchange rates, a portion of forecasted foreign currency revenue and expenses of certain of the Company’s subsidiaries are hedged. The Company typically hedges portions of its forecasted foreign currency exposure associated with revenue, cost of sales and operating expenses generally up to twelve months. | |||||||||||||||||||||||||||
The Company may also enter into foreign currency forward contracts to partially offset the foreign currency exchange gains and losses generated by the re-measurement of certain assets and liabilities. However, the Company may choose not to hedge certain foreign currency exchange exposures for a variety of reasons including, but not limited to, accounting considerations and the prohibitive economic cost of hedging particular exposures. | |||||||||||||||||||||||||||
The Company records all derivatives in the Condensed Consolidated Balance Sheet at fair value. The Company’s accounting treatment of these instruments is based on whether the instruments are designated as hedge or non-hedge instruments. The effective portions of cash flow hedges are recorded in accumulated other comprehensive income (“AOCI”) until the hedged item is recognized in earnings. The ineffective portions of cash flow hedges are recorded in “Foreign currency exchange gain (loss) and other”. Gains and losses related to derivatives that are designated as hedging instruments are recorded in the financial statement line item to which the derivative relates. | |||||||||||||||||||||||||||
The Company had a net deferred gain associated with cash flow hedges of $0.1 million recorded in AOCI as of September 30, 2013. Deferred gains and losses associated with cash flow hedges of forecasted foreign currency revenue are recognized as a component of revenues in the same period as the related revenue is recognized, and deferred gains and losses related to cash flow hedges of forecasted expenses are recognized as a component of cost of sales, research and development expense, sales and marketing expense and general and administrative expense in the same period as the related expenses are recognized. The Company’s hedged transactions as of September 30, 2013 are expected to occur within twelve months. | |||||||||||||||||||||||||||
Derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent two-month time period. Deferred gains and losses in AOCI associated with such derivative instruments are reclassified immediately into “Foreign currency exchange gain (loss) and other”. Any subsequent changes in fair value of such derivative instruments are reflected in “Foreign currency exchange gain (loss) and other” unless they are re-designated as hedges of other transactions. The Company did not recognize any significant net gains or losses related to the loss of hedge designation on discontinued cash flow hedges during the three or nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||
During the three months ended September 30, 2013 and 2012, the Company recognized a loss of $0.7 million and a gain of $0.4 million, respectively, as a component of “Foreign currency exchange gain (loss) and other”. During the nine months ended September 30, 2013 and 2012, the Company recognized a loss of $0.1 million and a gain of $0.2 million, respectively, as a component of “Foreign currency exchange gain (loss) and other”. Gains or losses on derivatives not designated as hedging instruments are recorded in “Foreign currency exchange gain (loss) and other”. These amounts represent the net gain or loss on the derivative contracts and do not include changes in the related exposures or ineffective portion or amounts excluded from the effectiveness testing of cash flow hedges, which generally offset a portion of the gain or loss on the derivative contracts. | |||||||||||||||||||||||||||
The notional principle amounts of the Company’s outstanding derivative instruments designated as cash flow hedges are $90.2 million and $79.3 million as of September 30, 2013 and December 31, 2012, respectively. The notional principle amounts of the Company’s outstanding derivative instruments not designated as cash flow hedges is $23.4 million and $9.2 million as of September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||
The following tables show the Company’s derivative instruments at gross fair value as reflected in the Condensed Consolidated Balance Sheets as of September 30, 2013 and December 31, 2012, respectively (in thousands): | |||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||
Fair Value of | Fair Value of | Total Fair | |||||||||||||||||||||||||
Derivates Designated | Derivates Not Designated | Value | |||||||||||||||||||||||||
as Hedge Instruments | as Hedge Instruments | ||||||||||||||||||||||||||
Derivative Assets (a): | |||||||||||||||||||||||||||
Foreign exchange contracts | $ | 1,118 | $ | 1 | $ | 1,119 | |||||||||||||||||||||
Derivative Liabilities (b): | |||||||||||||||||||||||||||
Foreign exchange contracts | (1,056 | ) | (111 | ) | $ | (1,167 | ) | ||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||
Fair Value of | Fair Value of Derivates | Total Fair | |||||||||||||||||||||||||
Derivates Designated | Not Designated as Hedge | Value | |||||||||||||||||||||||||
as Hedge Instruments | Instruments | ||||||||||||||||||||||||||
Derivative Assets (a): | |||||||||||||||||||||||||||
Foreign exchange contracts | $ | 1,457 | $ | 1 | $ | 1,458 | |||||||||||||||||||||
Derivative Liabilities (b): | |||||||||||||||||||||||||||
Foreign exchange contracts | (1,561 | ) | (11 | ) | (1,572 | ) | |||||||||||||||||||||
(a) | The fair value of derivative assets is measured using Level 2 fair value inputs and is recorded as other current assets in the Condensed Consolidated Balance Sheets. | ||||||||||||||||||||||||||
(b) | The fair value of derivative liabilities is measured using Level 2 fair value inputs and is recorded as accrued expenses in the Condensed Consolidated Balance Sheets. | ||||||||||||||||||||||||||
The following tables show the pre-tax effect of the Company’s derivative instruments designated as cash flow hedges in the Condensed Consolidated Statements of Operations for the three and nine month periods ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||
Gain/(Loss) Recognized in | Gain/(Loss) Reclassified from | Gain/(Loss) Recognized—Ineffective Portion | |||||||||||||||||||||||||
OCI—Effective Portion | AOCI into Income—Effective | and Amount Excluded from Effectiveness | |||||||||||||||||||||||||
Portion | Testing | ||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | Location | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 (a) | 2012 (b) | 2013 | 2012 | ||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||
Foreign exchange contracts, net | $ | 304 | $ | (570 | ) | $ | 141 | $ | (57 | ) | Other expense, net | $ | (12 | ) | $ | 38 | |||||||||||
Total | $ | 304 | $ | (570 | ) | $ | 141 | $ | (57 | ) | $ | (12 | ) | $ | 38 | ||||||||||||
(a) | Includes gains (losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $0.1 million were recognized within net sales within the Condensed Consolidated Statement of Operations for the three months ended September 30, 2013. | ||||||||||||||||||||||||||
(b) | Includes gains (losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $(0.2) million and $0.1 million were recognized within net sales, cost of sales and operating expenses, respectively, within the Condensed Consolidated Statement of Operations for the three months ended September 30, 2012. | ||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||
Gain/(Loss) Recognized in | Gain/(Loss) Reclassified from | Gain/(Loss) Recognized—Ineffective Portion | |||||||||||||||||||||||||
OCI—Effective Portion | AOCI into Income—Effective | and Amount Excluded from Effectiveness | |||||||||||||||||||||||||
Portion | Testing | ||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | Location | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 (a) | 2012 (b) | 2013 | 2012 | ||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||
Foreign exchange contracts, net | $ | 441 | $ | (570 | ) | $ | 238 | $ | (57 | ) | Other expense, net | $ | (10 | ) | $ | 38 | |||||||||||
Total | $ | 441 | $ | (570 | ) | $ | 238 | $ | (57 | ) | $ | (10 | ) | $ | 38 | ||||||||||||
(a) | Includes gains (losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $(0.9) million and $1.1 million were recognized within net sales and costs and operating expenses, respectively, within the Condensed Consolidated Statement of Operations for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||
(b) | Includes gains (losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $(0.2) million and $0.1 million were recognized within net sales and costs and operating expenses, respectively, within the Condensed Consolidated Statement of Operations for the nine months ended September 30, 2012. |
Organization_and_Summary_of_Si1
Organization and Summary of Significant Accounting Policies (Policies) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Organization and Basis of Presentation | ' | ||||||||||||||||
Organization and Basis of Presentation | |||||||||||||||||
Cepheid (the “Company”) was incorporated in the State of California on March 4, 1996. The Company is a molecular diagnostics company that develops, manufactures and markets fully-integrated systems for testing in the Clinical market, as well as for application in the Company’s legacy Non-Clinical market. The Company’s systems enable rapid, sophisticated molecular testing for organisms and genetic-based diseases by automating otherwise complex manual laboratory procedures. | |||||||||||||||||
The Condensed Consolidated Balance Sheet at September 30, 2013, the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2013 and 2012, the Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2013 and 2012 and the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2013 and 2012 are unaudited. In the opinion of management, these condensed consolidated financial statements reflect all normal recurring adjustments that management considers necessary for a fair presentation of the Company’s financial position at such dates and the operating results and cash flows for those periods. The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S.”). However, certain information or footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The results of operations for such periods are not necessarily indicative of the results expected for the remainder of 2013 or for any future period. The Condensed Consolidated Balance Sheet as of December 31, 2012 is derived from audited financial statements as of that date but does not include all of the information and footnotes required by accounting principles generally accepted in the U.S. for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012. Within the Condensed Consolidated Statements of Operations, the Condensed Consolidated Statements of Cash Flows and Note 3, “Segment and Significant Concentrations”, certain amounts have been reclassified to conform to the current period presentation. | |||||||||||||||||
Use of Estimates | ' | ||||||||||||||||
Use of Estimates | |||||||||||||||||
The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates. | |||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
The Company defines fair value 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. The Company’s valuation techniques used to measure fair value maximized the use of observable inputs and minimized the use of unobservable inputs. The fair value hierarchy is based on the following three levels of inputs: | |||||||||||||||||
• | 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. | ||||||||||||||||
See Note 8, “Fair Value”, for information and related disclosures regarding the Company’s fair value measurements. | |||||||||||||||||
Investments | ' | ||||||||||||||||
Investments | |||||||||||||||||
All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents. The Company’s marketable debt securities have been classified and accounted for as available-for-sale. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates the designations at each balance sheet date. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable debt securities with maturities of 12 months or less are classified as short-term and marketable debt securities with maturities greater than 12 months are classified as long-term. The Company’s marketable debt securities are carried at fair value, with the unrealized gains and losses reported as a component of shareholders’ equity. The cost of securities sold is based upon the specific identification method. | |||||||||||||||||
We assess whether an other-than-temporary impairment loss on our investments has occurred due to declines in fair value or other market conditions. With respect to our debt securities, this assessment takes into account the severity and duration of the decline in value, our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis, and if we do not expect to recover the entire amortized cost basis of the security (that is, a credit loss exists). | |||||||||||||||||
See Note 7, “Investments”, for information and related disclosures regarding the Company’s investments. | |||||||||||||||||
Inventory | ' | ||||||||||||||||
Inventory | |||||||||||||||||
Inventory is stated at the lower of standard cost (which approximates actual cost) or market cost, with cost determined on the first-in-first-out method. Accordingly, allocation of fixed production overheads to conversion costs is based on normal capacity of production. Abnormal amounts of idle facility expense, freight, handling costs and spoilage are expensed as incurred and not included in overhead. In addition, unrecognized stock-based compensation cost of $2.5 million and $1.1 million was included in inventory as of September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||
The following table summarizes the components of inventory (in thousands): | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Raw Materials | $ | 35,962 | $ | 26,041 | |||||||||||||
Work in Process | 35,245 | 30,113 | |||||||||||||||
Finished Goods | 30,375 | 13,960 | |||||||||||||||
Inventory | $ | 101,582 | $ | 70,114 | |||||||||||||
Revenue Recognition | ' | ||||||||||||||||
Revenue Recognition | |||||||||||||||||
The Company recognizes revenue from sales when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable and collectability is reasonably assured. No right of return exists for the Company’s products except in the case of damaged goods. The Company has not experienced any significant returns of its products. Shipping and handling costs are expensed as incurred and included in cost of sales. In those cases where the Company bills shipping and handling costs to customers, the amounts billed are classified as sales. | |||||||||||||||||
The Company enters into revenue arrangements that may consist of multiple deliverables of its products and services. In situations with multiple deliverables, revenue is recognized upon the delivery of the separate elements. The Company sells service contracts for which revenue is deferred and recognized ratably over the contract period. | |||||||||||||||||
System and other sales includes fees for technology licenses and research and development services, including research and development under grants and government sponsored research, royalties under license and collaboration agreements. Fees for technology licenses are generally fully recognized only after the license period has commenced, the technology has been delivered and no further involvement of the Company is required. When the Company has continuing involvement related to a technology license, revenue is recognized over the license term. Revenue related to research and development services is recognized as the related service is performed based on the performance requirements of the relevant contract and recoverability is reasonably assured. Under such agreements, the Company is required to perform specific research and development activities and is compensated either based on the costs or costs plus a mark-up associated with each specific contract over the term of the agreement or based on the Company’s progress to completion. Royalties are typically based on licensees’ net sales of products that utilize the Company’s technology, and royalty revenues are recognized as earned in accordance with the contract terms when the royalties can be reliably measured and their collectability is reasonably assured, such as upon the receipt of a royalty statement from the customer. | |||||||||||||||||
Advance payments received in excess of amounts earned, such as funds received in advance of products to be delivered or services to be performed, are classified as deferred revenue until earned. | |||||||||||||||||
Net Loss per Share | ' | ||||||||||||||||
Net Loss per Share | |||||||||||||||||
Basic net loss per share is computed by dividing net loss for the period by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss for the period by the weighted average number of common and common equivalent shares outstanding during the period. Potentially dilutive common shares consist of incremental common shares issuable upon exercise of stock options, employee stock purchases, restricted stock awards and restricted stock units. The Company excludes stock options from the calculation of diluted net loss per share when the combined exercise price and average unamortized fair values are greater than the average market price for the Company’s common stock because their effect is anti-dilutive. These anti-dilutive common stock equivalent shares totaled 5,520,000 and 5,269,000 for the three months ended September 30, 2013 and 2012, respectively, and 5,463,000 and 5,212,000 for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||
The following summarizes the computation of basic and diluted loss per share (in thousands, except for per share amounts): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Basic: | |||||||||||||||||
Net loss | $ | (1,381 | ) | $ | (21,296 | ) | $ | (7,648 | ) | $ | (25,687 | ) | |||||
Basic weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 | |||||||||||||
Net loss per share | (0.02 | ) | $ | (0.32 | ) | $ | (0.11 | ) | $ | (0.39 | ) | ||||||
Diluted: | |||||||||||||||||
Net loss | $ | (1,381 | ) | $ | (21,296 | ) | $ | (7,648 | ) | $ | (25,687 | ) | |||||
Basic weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 | |||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Stock options, ESPP, restricted stock units and restricted stock awards | — | — | — | — | |||||||||||||
Diluted weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 | |||||||||||||
Net loss per share | $ | (0.02 | ) | $ | (0.32 | ) | $ | (0.11 | ) | $ | (0.39 | ) | |||||
Recent Accounting Pronouncements | ' | ||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||
In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-2, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-2), that requires an organization to present the effects on the line items of net income of significant amounts reclassified out of Accumulated Other Comprehensive Income, but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. ASU 2013-2 is effective for fiscal years beginning after December 15, 2012. The Company adopted ASU No. 2013-02 on January 1, 2013 on a prospective basis. The adoption had no material effect on the Company’s financial position or results of operations. | |||||||||||||||||
In July 2013, the FASB issued new accounting guidance on the financial statement presentation of unrecognized tax benefits. The new update provides that a liability related to an unrecognized tax benefit would be presented as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, if such settlement is required or expected in the event the uncertain tax position is disallowed. The new guidance becomes effective for the Company on January 1, 2014 and it should be applied prospectively to unrecognized tax benefits that exist at the effective date with retrospective application permitted. The Company does not expect this new accounting update to have a significant impact on the Company’s consolidated financial position, or results of operations. |
Organization_and_Summary_of_Si2
Organization and Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Components of Inventories | ' | ||||||||||||||||
The following table summarizes the components of inventory (in thousands): | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Raw Materials | $ | 35,962 | $ | 26,041 | |||||||||||||
Work in Process | 35,245 | 30,113 | |||||||||||||||
Finished Goods | 30,375 | 13,960 | |||||||||||||||
Inventory | $ | 101,582 | $ | 70,114 | |||||||||||||
Computation of Basic and Diluted Loss Per Share | ' | ||||||||||||||||
The following summarizes the computation of basic and diluted loss per share (in thousands, except for per share amounts): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Basic: | |||||||||||||||||
Net loss | $ | (1,381 | ) | $ | (21,296 | ) | $ | (7,648 | ) | $ | (25,687 | ) | |||||
Basic weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 | |||||||||||||
Net loss per share | (0.02 | ) | $ | (0.32 | ) | $ | (0.11 | ) | $ | (0.39 | ) | ||||||
Diluted: | |||||||||||||||||
Net loss | $ | (1,381 | ) | $ | (21,296 | ) | $ | (7,648 | ) | $ | (25,687 | ) | |||||
Basic weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 | |||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Stock options, ESPP, restricted stock units and restricted stock awards | — | — | — | — | |||||||||||||
Diluted weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 | |||||||||||||
Net loss per share | $ | (0.02 | ) | $ | (0.32 | ) | $ | (0.11 | ) | $ | (0.39 | ) | |||||
Intangible_Assets_and_Goodwill1
Intangible Assets and Goodwill (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Net Carrying Value and Accumulated Amortization of Major Classes of Intangible Assets | ' | ||||||||||||
The following table summarizes the recorded value and accumulated amortization of major classes of intangible assets (in thousands): | |||||||||||||
Balance, September 30, 2013: | Gross Carrying | Accumulated | Net Carrying | ||||||||||
Amount | Amortization | Amount | |||||||||||
Licenses | $ | 28,577 | $ | (21,064 | ) | $ | 7,513 | ||||||
Technology acquired in acquisitions | 8,613 | (7,217 | ) | 1,396 | |||||||||
Customer relationships and other intangible assets acquired in acquisitions | 15,748 | (6,995 | ) | 8,753 | |||||||||
$ | 52,938 | $ | (35,276 | ) | $ | 17,662 | |||||||
Balance, December 31, 2012 | Gross Carrying | Accumulated | Net Carrying | ||||||||||
Amount | Amortization | Amount | |||||||||||
Licenses | $ | 27,452 | $ | (19,464 | ) | $ | 7,988 | ||||||
Technology acquired in acquisitions | 8,613 | (6,843 | ) | 1,770 | |||||||||
Customer relationships and other intangible assets acquired in acquisitions | 13,700 | (4,691 | ) | 9,009 | |||||||||
$ | 49,765 | $ | (30,998 | ) | $ | 18,767 | |||||||
Expected Future Annual Amortization Expense of Intangible Assets | ' | ||||||||||||
The following table summarizes the expected future annual amortization expense of intangible assets recorded on the Company’s Condensed Consolidated Balance Sheet as of September 30, 2013, assuming no impairment charges (in thousands): | |||||||||||||
For the Years Ending December 31 | Amortization | ||||||||||||
Expense | |||||||||||||
2013 (remaining three months) | $ | 1,316 | |||||||||||
2014 | 4,375 | ||||||||||||
2015 | 3,435 | ||||||||||||
2016 | 2,476 | ||||||||||||
2017 | 2,097 | ||||||||||||
Thereafter | 3,963 | ||||||||||||
Total expected future amortization | $ | 17,662 | |||||||||||
Segment_and_Significant_Concen1
Segment and Significant Concentrations (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Total Sales by Type | ' | ||||||||||||||||
The following table summarizes total sales by type (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Sales: | |||||||||||||||||
Systems and other sales | $ | 19,694 | $ | 15,905 | $ | 54,500 | $ | 48,235 | |||||||||
Reagent and disposable sales | 80,387 | 64,567 | 233,531 | 190,544 | |||||||||||||
Total sales | $ | 100,081 | $ | 80,472 | $ | 288,031 | $ | 238,779 | |||||||||
Product Sales Information by Segments | ' | ||||||||||||||||
The following table summarizes sales in the Clinical and Non-Clinical markets (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Sales by market: | |||||||||||||||||
Clinical Systems | $ | 17,484 | $ | 13,049 | $ | 46,732 | $ | 39,440 | |||||||||
Clinical Reagents | 74,367 | 54,527 | 212,188 | 164,727 | |||||||||||||
Total Clinical | 91,851 | 67,576 | 258,920 | 204,167 | |||||||||||||
Non-Clinical | 8,230 | 12,896 | 29,111 | 34,612 | |||||||||||||
Total sales | $ | 100,081 | $ | 80,472 | $ | 288,031 | $ | 238,779 | |||||||||
Segment Product Sales by Geography Region | ' | ||||||||||||||||
The following table summarizes sales by geographic region (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Geographic sales information: | |||||||||||||||||
North America | |||||||||||||||||
Clinical | $ | 51,659 | $ | 42,726 | $ | 153,729 | $ | 135,692 | |||||||||
Non-Clinical | 7,083 | 11,496 | 25,937 | 29,856 | |||||||||||||
Total North America | 58,742 | 54,222 | 179,666 | 165,548 | |||||||||||||
International | |||||||||||||||||
Clinical | $ | 40,192 | $ | 24,850 | $ | 105,191 | $ | 68,475 | |||||||||
Non-Clinical | 1,147 | 1,400 | 3,174 | 4,756 | |||||||||||||
Total International | 41,339 | 26,250 | 108,365 | 73,231 | |||||||||||||
Total sales | $ | 100,081 | $ | 80,472 | $ | 288,031 | $ | 238,779 | |||||||||
Employee_Equity_Incentive_Plan1
Employee Equity Incentive Plans and Stock-Based Compensation Expense (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Stock-Based Compensation Expense | ' | ||||||||||||||||
The following table summarizes stock-based compensation expense in the condensed consolidated statements of operations (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of sales | $ | 461 | $ | 915 | $ | 1,842 | $ | 2,279 | |||||||||
Research and development | 2,256 | 1,753 | 6,158 | 5,207 | |||||||||||||
Sales and marketing | 1,698 | 1,431 | 4,075 | 3,871 | |||||||||||||
General and administrative | 2,796 | 2,266 | 7,942 | 6,575 | |||||||||||||
Total stock-based compensation expense | $ | 7,211 | $ | 6,365 | $ | 20,017 | $ | 17,932 | |||||||||
Summary of Option Activity | ' | ||||||||||||||||
The following table summarizes option activity under all plans (in thousands, except weighted average exercise price and weighted average remaining contractual term): | |||||||||||||||||
Shares | Weighted | Weighted Average | Aggregate | ||||||||||||||
Average | Remaining | Instrinic Value | |||||||||||||||
Exercise Price | Contractual Term | ||||||||||||||||
Outstanding, December 31, 2012 | 6,810 | $ | 21.81 | ||||||||||||||
Granted | 1,378 | $ | 37.92 | ||||||||||||||
Exercised | (762 | ) | $ | 14.2 | |||||||||||||
Forfeited | (282 | ) | $ | 31.94 | |||||||||||||
Outstanding, September 30, 2013 | 7,144 | $ | 25.33 | 3.74 | $ | 98,121 | |||||||||||
Exercisable, September 30, 2013 | 4,557 | $ | 19.66 | 2.59 | $ | 88,386 | |||||||||||
Vested and expected to vest, September 30, 2013 | 6,887 | $ | 24.9 | 3.65 | $ | 97,494 | |||||||||||
Summary of Restricted Stock Plan Activity | ' | ||||||||||||||||
The following table summarizes restricted stock plan activity, which consists of restricted stock awards and restricted stock units (in thousands, except weighted average grant date fair values): | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
Average | |||||||||||||||||
Grant Date | |||||||||||||||||
Fair Values | |||||||||||||||||
Outstanding, December 31, 2012 | 642 | $ | 29.74 | ||||||||||||||
Granted | 388 | 37.88 | |||||||||||||||
Vested/Released | (192 | ) | 31.05 | ||||||||||||||
Cancelled | (48 | ) | 33.89 | ||||||||||||||
Outstanding, September 30, 2013 | 790 | $ | 33.17 | ||||||||||||||
Summary of Assumptions to Estimate Fair Value | ' | ||||||||||||||||
The following table summarizes the assumptions used in determining the fair value of the Company’s stock options granted to employees and shares purchased by employees under the Employee Stock Purchase Plan (“ESPP”): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
OPTION SHARES: | |||||||||||||||||
Expected Term (in years) | 4.42 | 4.37 | 4.41 | 4.38 | |||||||||||||
Volatility | 0.43 | 0.53 | 0.42 | 0.53 | |||||||||||||
Expected Dividends | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||
Risk Free Interest Rates | 1.55 | % | 0.63 | % | 0.83 | % | 0.81 | % | |||||||||
Estimated Forfeitures | 7.61 | % | 7.63 | % | 7.61 | % | 7.63 | % | |||||||||
Weighted Average Fair Value Per Share | $ | 13.27 | $ | 16.4 | $ | 13.93 | $ | 15.73 | |||||||||
ESPP SHARES: | |||||||||||||||||
Expected Term (in years) | 1.25 | 1.25 | 1.25 | 1.25 | |||||||||||||
Volatility | 0.39 | 0.54 | 0.42 | 0.54 | |||||||||||||
Expected Dividends | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||
Risk Free Interest Rates | 0.2 | % | 0.19 | % | 0.19 | % | 0.18 | % | |||||||||
Weighted Average Fair Value Per Share | $ | 11.42 | $ | 12.17 | $ | 12.1 | $ | 13.13 |
Commitments_and_contingencies_
Commitments and contingencies (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Summary of Purchase Commitments | ' | ||||
The following table summarizes the Company’s purchase commitments at September 30, 2013 (in thousands): | |||||
Years Ending December 31, | Purchase Commitments | ||||
2013 (remaining three months) | $ | 5,546 | |||
2014 | 17,892 | ||||
2015 | 1,944 | ||||
2016 | 1,716 | ||||
2017 | 1,716 | ||||
Thereafter | — | ||||
Total minimum payments | $ | 28,814 | |||
Investments_Tables
Investments (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments Schedule [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Available-for-Sale Marketable Securities | ' | ||||||||||||||||||||||||
The following tables summarize available-for-sale marketable securities at September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||||||
Balance as of September 30, 2013: | |||||||||||||||||||||||||
Cost | Gross Unrealized | Gross Unrealized | Estimated Fair | ||||||||||||||||||||||
Gain | Loss | Value | |||||||||||||||||||||||
Short-term investments: | |||||||||||||||||||||||||
Commercial paper | $ | 8,005 | $ | 1 | $ | — | $ | 8,006 | |||||||||||||||||
Corporate debt securities | 1,889 | — | (1 | ) | 1,888 | ||||||||||||||||||||
Amounts classified as cash equivalents | (4,109 | ) | — | — | (4,109 | ) | |||||||||||||||||||
Total short-term investments | $ | 5,785 | $ | 1 | $ | (1 | ) | $ | 5,785 | ||||||||||||||||
Investments: | |||||||||||||||||||||||||
United States government securities | 2,987 | 5 | — | 2,992 | |||||||||||||||||||||
Government agency securities | 3,806 | 2 | — | 3,808 | |||||||||||||||||||||
Corporate debt securities | 2,427 | 3 | — | 2,430 | |||||||||||||||||||||
Other | 750 | — | — | 750 | |||||||||||||||||||||
Total investments | $ | 9,970 | $ | 10 | $ | — | $ | 9,980 | |||||||||||||||||
Balance as of December 31, 2012: | |||||||||||||||||||||||||
Cost | Gross Unrealized | Gross Unrealized | Estimated Fair | ||||||||||||||||||||||
Gain | Loss | Value | |||||||||||||||||||||||
Short-term investments: | |||||||||||||||||||||||||
Corporate debt securities | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Commercial paper | — | — | — | — | |||||||||||||||||||||
Amounts classified as cash equivalents | — | — | — | — | |||||||||||||||||||||
Total short-term investments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Investments: | |||||||||||||||||||||||||
United States government securities | — | — | — | — | |||||||||||||||||||||
Government agency securities | — | — | — | — | |||||||||||||||||||||
Corporate debt securities | — | — | — | — | |||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||
Total investments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Schedule of Gross Realized Gains and Losses of Marketable Securities | ' | ||||||||||||||||||||||||
Gross realized gains and losses from sales of marketable securities, all of which are reported as a component of “Foreign currency exchange gain (loss) and other, net” in the consolidated statements of operations, were for the three and nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Gross realized gains | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Gross realized losses | — | — | — | — | |||||||||||||||||||||
Realized gains (losses)—net | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Schedule of Marketable Securities with Unrealized Losses | ' | ||||||||||||||||||||||||
The fair value of the Company’s marketable securities with unrealized losses at September 30, 2013 and December 31, 2012, and the duration of time that such losses had been unrealized (in thousands) were: | |||||||||||||||||||||||||
Balance at September 30, 2013: | |||||||||||||||||||||||||
Less Than 12 months | More than 12 months | Total | |||||||||||||||||||||||
Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||||
Corporate debt securities | $ | 1,386 | $ | (1 | ) | $ | 562 | $ | — | $ | 1,948 | $ | (1 | ) | |||||||||||
Commercial paper | 849 | — | — | — | 849 | — | |||||||||||||||||||
Total | $ | 2,235 | $ | (1 | ) | $ | 562 | $ | — | $ | 2,797 | $ | (1 | ) | |||||||||||
Balance at December 31, 2012: | |||||||||||||||||||||||||
Less Than 12 months | More than 12 months | Total | |||||||||||||||||||||||
Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||||
Corporate debt securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Commercial paper | — | — | — | — | — | — | |||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Schedule of Amortized Cost and Estimated Fair Value of Available-for-Sale Debt Securities by Contractual Maturity | ' | ||||||||||||||||||||||||
The following table summarizes the amortized cost and estimated fair value of available-for-sale debt securities at September 30, 2013, by contractual maturity: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Amortized Cost | Estimated Fair Value | Amortized Cost | Estimated Fair Value | ||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
Mature in one year or less | $ | 5,785 | $ | 5,785 | $ | — | $ | — | |||||||||||||||||
Mature after one year through three years | 9,970 | 9,980 | — | — | |||||||||||||||||||||
Mature in more than three years | — | — | — | — | |||||||||||||||||||||
Total debt securities | 15,755 | 15,765 | — | — | |||||||||||||||||||||
Securities with no contractual maturity | — | — | — | — | |||||||||||||||||||||
Total | $ | 15,755 | $ | 15,765 | $ | — | $ | — | |||||||||||||||||
Fair_Value_Tables
Fair Value (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
The following table summarizes the fair value hierarchy for the Company’s financial assets (cash equivalents, short-term investments and long-term investments) and financial liabilities (foreign currency derivatives and contingent payment) measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||
Balance as of September 30, 2013: | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 64,894 | $ | 3,859 | $ | — | 68,753 | ||||||||||
Short-term investments: | |||||||||||||||||
Corporate debt securities | — | 1,888 | — | 1,888 | |||||||||||||
Commercial paper | — | 3,897 | — | 3,897 | |||||||||||||
Total short-term investments | — | 5,785 | — | 5,785 | |||||||||||||
Foreign currency derivatives | — | 1,119 | — | 1,119 | |||||||||||||
Investments: | |||||||||||||||||
United States government securities | — | 2,992 | — | 2,992 | |||||||||||||
Government agency securities | — | 3,808 | — | 3,808 | |||||||||||||
Corporate debt securities | — | 2,430 | — | 2,430 | |||||||||||||
Other | — | 750 | — | 750 | |||||||||||||
Total investments | — | 9,980 | — | 9,980 | |||||||||||||
Total | $ | 64,894 | $ | 20,743 | $ | — | $ | 85,637 | |||||||||
Liabilities: | |||||||||||||||||
Foreign currency derivatives | $ | — | $ | 1,167 | $ | — | $ | 1,167 | |||||||||
Contingent consideration | — | — | 379 | 379 | |||||||||||||
Total | $ | — | $ | 1,167 | $ | 379 | $ | 1,546 | |||||||||
Balance as of December 31, 2012: | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Cash | $ | 84,906 | $ | — | $ | — | $ | 84,906 | |||||||||
Cash equivalents—money market funds | 10,873 | — | — | 10,873 | |||||||||||||
Foreign currency derivatives | — | 1,458 | — | 1,458 | |||||||||||||
Total | $ | 95,779 | $ | 1,458 | $ | — | $ | 97,237 | |||||||||
Liabilities: | |||||||||||||||||
Foreign currency derivatives | $ | — | $ | 1,572 | $ | — | $ | 1,572 | |||||||||
Contingent consideration | — | — | 550 | 550 | |||||||||||||
Total | $ | — | $ | 1,572 | $ | 550 | $ | 2,122 | |||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Derivative Instruments at Gross Fair Value Reflected in Condensed Consolidated Balance Sheets | ' | ||||||||||||||||||||||||||
The following tables show the Company’s derivative instruments at gross fair value as reflected in the Condensed Consolidated Balance Sheets as of September 30, 2013 and December 31, 2012, respectively (in thousands): | |||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||
Fair Value of | Fair Value of | Total Fair | |||||||||||||||||||||||||
Derivates Designated | Derivates Not Designated | Value | |||||||||||||||||||||||||
as Hedge Instruments | as Hedge Instruments | ||||||||||||||||||||||||||
Derivative Assets (a): | |||||||||||||||||||||||||||
Foreign exchange contracts | $ | 1,118 | $ | 1 | $ | 1,119 | |||||||||||||||||||||
Derivative Liabilities (b): | |||||||||||||||||||||||||||
Foreign exchange contracts | (1,056 | ) | (111 | ) | $ | (1,167 | ) | ||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||
Fair Value of | Fair Value of Derivates | Total Fair | |||||||||||||||||||||||||
Derivates Designated | Not Designated as Hedge | Value | |||||||||||||||||||||||||
as Hedge Instruments | Instruments | ||||||||||||||||||||||||||
Derivative Assets (a): | |||||||||||||||||||||||||||
Foreign exchange contracts | $ | 1,457 | $ | 1 | $ | 1,458 | |||||||||||||||||||||
Derivative Liabilities (b): | |||||||||||||||||||||||||||
Foreign exchange contracts | (1,561 | ) | (11 | ) | (1,572 | ) | |||||||||||||||||||||
(a) | The fair value of derivative assets is measured using Level 2 fair value inputs and is recorded as other current assets in the Condensed Consolidated Balance Sheets. | ||||||||||||||||||||||||||
(b) | The fair value of derivative liabilities is measured using Level 2 fair value inputs and is recorded as accrued expenses in the Condensed Consolidated Balance Sheets. | ||||||||||||||||||||||||||
Pre-tax Effect of Derivative Instruments Designated as Cash Flow Hedges in Condensed Consolidated Statements of Operations | ' | ||||||||||||||||||||||||||
The following tables show the pre-tax effect of the Company’s derivative instruments designated as cash flow hedges in the Condensed Consolidated Statements of Operations for the three and nine month periods ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||
Gain/(Loss) Recognized in | Gain/(Loss) Reclassified from | Gain/(Loss) Recognized—Ineffective Portion | |||||||||||||||||||||||||
OCI—Effective Portion | AOCI into Income—Effective | and Amount Excluded from Effectiveness | |||||||||||||||||||||||||
Portion | Testing | ||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | Location | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 (a) | 2012 (b) | 2013 | 2012 | ||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||
Foreign exchange contracts, net | $ | 304 | $ | (570 | ) | $ | 141 | $ | (57 | ) | Other expense, net | $ | (12 | ) | $ | 38 | |||||||||||
Total | $ | 304 | $ | (570 | ) | $ | 141 | $ | (57 | ) | $ | (12 | ) | $ | 38 | ||||||||||||
(a) | Includes gains (losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $0.1 million were recognized within net sales within the Condensed Consolidated Statement of Operations for the three months ended September 30, 2013. | ||||||||||||||||||||||||||
(b) | Includes gains (losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $(0.2) million and $0.1 million were recognized within net sales, cost of sales and operating expenses, respectively, within the Condensed Consolidated Statement of Operations for the three months ended September 30, 2012. | ||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||
Gain/(Loss) Recognized in | Gain/(Loss) Reclassified from | Gain/(Loss) Recognized—Ineffective Portion | |||||||||||||||||||||||||
OCI—Effective Portion | AOCI into Income—Effective | and Amount Excluded from Effectiveness | |||||||||||||||||||||||||
Portion | Testing | ||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | Location | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 (a) | 2012 (b) | 2013 | 2012 | ||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||
Foreign exchange contracts, net | $ | 441 | $ | (570 | ) | $ | 238 | $ | (57 | ) | Other expense, net | $ | (10 | ) | $ | 38 | |||||||||||
Total | $ | 441 | $ | (570 | ) | $ | 238 | $ | (57 | ) | $ | (10 | ) | $ | 38 | ||||||||||||
(a) | Includes gains (losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $(0.9) million and $1.1 million were recognized within net sales and costs and operating expenses, respectively, within the Condensed Consolidated Statement of Operations for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||
(b) | Includes gains (losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $(0.2) million and $0.1 million were recognized within net sales and costs and operating expenses, respectively, within the Condensed Consolidated Statement of Operations for the nine months ended September 30, 2012. | ||||||||||||||||||||||||||
Organization_and_Summary_of_Si3
Organization and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation cost | ' | ' | $2.50 | ' | $1.10 |
Total anti-dilutive common stock equivalent shares | 5,520,000 | 5,269,000 | 5,463,000 | 5,212,000 | ' |
Organization_and_Summary_of_Si4
Organization and Summary of Significant Accounting Policies - Components of Inventories (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw Materials | $35,962 | $26,041 |
Work in Process | 35,245 | 30,113 |
Finished Goods | 30,375 | 13,960 |
Inventory | $101,582 | $70,114 |
Organization_and_Summary_of_Si5
Organization and Summary of Significant Accounting Policies - Computation of Basic and Diluted Income (Loss) Per Share (Detail) (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 |
Organization And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Net loss | ($1,381) | ($21,296) | ($7,648) | ($25,687) |
Basic weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 |
Effect of dilutive securities: | ' | ' | ' | ' |
Diluted weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 |
Net loss per share | ($0.02) | ($0.32) | ($0.11) | ($0.39) |
Basic [Member] | ' | ' | ' | ' |
Organization And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Net loss | -1,381 | -21,296 | -7,648 | -25,687 |
Basic weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 |
Effect of dilutive securities: | ' | ' | ' | ' |
Net loss per share | ($0.02) | ($0.32) | ($0.11) | ($0.39) |
Diluted [Member] | ' | ' | ' | ' |
Organization And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Net loss | ($1,381) | ($21,296) | ($7,648) | ($25,687) |
Basic weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 |
Effect of dilutive securities: | ' | ' | ' | ' |
Stock options, ESPP, restricted stock units and restricted stock awards | ' | ' | ' | ' |
Diluted weighted shares outstanding | 67,573 | 66,145 | 67,234 | 65,624 |
Net loss per share | ($0.02) | ($0.32) | ($0.11) | ($0.39) |
Intangible_Assets_and_Goodwill2
Intangible Assets and Goodwill - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Goodwill And Intangible Assets Net [Line Items] | ' | ' | ' | ' | ' |
Goodwill | $39,681,000 | ' | $39,681,000 | ' | $37,694,000 |
Amortization expense of intangible assets | 1,100,000 | 1,100,000 | 4,278,000 | 3,745,000 | ' |
Italian distributor [Member] | ' | ' | ' | ' | ' |
Goodwill And Intangible Assets Net [Line Items] | ' | ' | ' | ' | ' |
Total purchase price of transactions | ' | ' | 4,000,000 | ' | ' |
Purchase price consideration, cash paid | ' | ' | 3,600,000 | ' | ' |
Purchase price consideration, outstanding payables | 200,000 | ' | 200,000 | ' | ' |
Purchase price consideration, contingent consideration | 200,000 | ' | 200,000 | ' | ' |
Acquired intangible assets | 2,100,000 | ' | 2,100,000 | ' | ' |
Property and equipment, inventory and other assets, net of liabilities | 200,000 | ' | 200,000 | ' | ' |
Goodwill | $1,500,000 | ' | $1,500,000 | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' |
Goodwill And Intangible Assets Net [Line Items] | ' | ' | ' | ' | ' |
Estimated useful lives of intangible assets | ' | ' | '3 years | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
Goodwill And Intangible Assets Net [Line Items] | ' | ' | ' | ' | ' |
Estimated useful lives of intangible assets | ' | ' | '20 years | ' | ' |
Intangible_Assets_and_Goodwill3
Intangible Assets and Goodwill - Net Carrying Value and Accumulated Amortization of Major Classes of Intangible Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $52,938 | $49,765 |
Accumulated Amortization | -35,276 | -30,998 |
Net Carrying Amount | 17,662 | 18,767 |
Licenses [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 28,577 | 27,452 |
Accumulated Amortization | -21,064 | -19,464 |
Net Carrying Amount | 7,513 | 7,988 |
Technology acquired in acquisitions [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 8,613 | 8,613 |
Accumulated Amortization | -7,217 | -6,843 |
Net Carrying Amount | 1,396 | 1,770 |
Customer relationships and other intangible assets acquired in acquisitions [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 15,748 | 13,700 |
Accumulated Amortization | -6,995 | -4,691 |
Net Carrying Amount | $8,753 | $9,009 |
Intangible_Assets_and_Goodwill4
Intangible Assets and Goodwill - Expected Future Annual Amortization Expense of Intangible Assets (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
2013 (remaining three months) | $1,316 |
2014 | 4,375 |
2015 | 3,435 |
2016 | 2,476 |
2017 | 2,097 |
Thereafter | 3,963 |
Total expected future amortization | $17,662 |
Segment_and_Significant_Concen2
Segment and Significant Concentrations - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Segment | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Number of operating business segments | ' | ' | 1 | ' | ' |
Percentage of one direct customer to total product sales | 10.00% | 10.00% | 10.00% | 10.00% | ' |
Maximum percentage of accounts receivable by any one customer | 10.00% | ' | 10.00% | ' | 10.00% |
Product sales to customers | $100,081,000 | $80,472,000 | $288,031,000 | $238,779,000 | ' |
Maximum sales contribution by any other country, percentage | ' | ' | 10.00% | ' | ' |
Maximum assets contribution by any other country, percentage | 10.00% | ' | 10.00% | ' | ' |
U.S. [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Product sales to customers | 58,400,000 | 51,700,000 | 173,000,000 | 157,100,000 | ' |
Long lived-assets | 51,900,000 | ' | 51,900,000 | ' | 36,600,000 |
South Africa [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Product sales to customers | 11,700,000 | 7,800,000 | 31,000,000 | 14,900,000 | ' |
Sweden and Countries in the European Union [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Long lived-assets | $21,900,000 | ' | $21,900,000 | ' | 18,200,000 |
Segment_and_Significant_Concen3
Segment and Significant Concentrations - Total Sales by Type (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Total sales | $100,081 | $80,472 | $288,031 | $238,779 |
Operating Segments [Member] | Systems and other sales [Member] | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Total sales | 19,694 | 15,905 | 54,500 | 48,235 |
Operating Segments [Member] | Reagent and disposable sales [Member] | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Total sales | $80,387 | $64,567 | $233,531 | $190,544 |
Segment_and_Significant_Concen4
Segment and Significant Concentrations - Product Sales Information by Segments (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Total sales | $100,081 | $80,472 | $288,031 | $238,779 |
Operating Segments [Member] | Clinical Systems [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Total sales | 17,484 | 13,049 | 46,732 | 39,440 |
Operating Segments [Member] | Clinical Reagents [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Total sales | 74,367 | 54,527 | 212,188 | 164,727 |
Operating Segments [Member] | Clinical [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Total sales | 91,851 | 67,576 | 258,920 | 204,167 |
Operating Segments [Member] | Non-Clinical [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Total sales | $8,230 | $12,896 | $29,111 | $34,612 |
Segment_and_Significant_Concen5
Segment and Significant Concentrations - Segment Product Sales by Geography Region (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total sales | $100,081 | $80,472 | $288,031 | $238,779 |
Reportable Geographical Components [Member] | North America [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total sales | 58,742 | 54,222 | 179,666 | 165,548 |
Reportable Geographical Components [Member] | North America [Member] | Clinical [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total sales | 51,659 | 42,726 | 153,729 | 135,692 |
Reportable Geographical Components [Member] | North America [Member] | Non-Clinical [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total sales | 7,083 | 11,496 | 25,937 | 29,856 |
Reportable Geographical Components [Member] | International [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total sales | 41,339 | 26,250 | 108,365 | 73,231 |
Reportable Geographical Components [Member] | International [Member] | Clinical [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total sales | 40,192 | 24,850 | 105,191 | 68,475 |
Reportable Geographical Components [Member] | International [Member] | Non-Clinical [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total sales | $1,147 | $1,400 | $3,174 | $4,756 |
Employee_Equity_Incentive_Plan2
Employee Equity Incentive Plans and Stock-Based Compensation Expense - Summary of Stock-Based Compensation Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | $7,211 | $6,365 | $20,017 | $17,932 |
Cost of sales [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 461 | 915 | 1,842 | 2,279 |
Research and development [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 2,256 | 1,753 | 6,158 | 5,207 |
Sales and marketing [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 1,698 | 1,431 | 4,075 | 3,871 |
General and administrative [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $2,796 | $2,266 | $7,942 | $6,575 |
Employee_Equity_Incentive_Plan3
Employee Equity Incentive Plans and Stock-Based Compensation Expense - Summary of Option Activity (Detail) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Shares, Outstanding, Beginning Balance | 6,810 |
Shares, Granted | 1,378 |
Shares, Exercised | -762 |
Shares, Forfeited | -282 |
Shares, Outstanding, Ending Balance | 7,144 |
Shares, Exercisable, September 30, 2013 | 4,557 |
Shares, Vested and expected to vest, September 30, 2013 | 6,887 |
Weighted Average Exercise Price, Outstanding, Beginning Balance | $21.81 |
Weighted Average Exercise Price, Granted | $37.92 |
Weighted Average Exercise Price, Exercised | $14.20 |
Weighted Average Exercise Price, Forfeited | $31.94 |
Weighted Average Exercise Price, Outstanding, Ending Balance | $25.33 |
Weighted Average Exercise Price, Exercisable, September 30, 2013 | $19.66 |
Weighted Average Exercise Price, Vested and expected to vest, September 30, 2013 | $24.90 |
Weighted Average Remaining Contractual Term, Outstanding, September 30, 2013 | '3 years 8 months 27 days |
Weighted Average Remaining Contractual Term, Exercisable, September 30, 2013 | '2 years 7 months 2 days |
Weighted Average Remaining Contractual Term, Vested and expected to vest, September 30, 2013 | '3 years 7 months 24 days |
Aggregate Intrinsic Value, Outstanding, September 30, 2013 | $98,121 |
Aggregate Intrinsic Value, Exercisable, September 30, 2013 | 88,386 |
Aggregate Intrinsic Value, Vested and expected to vest, September 30, 2013 | $97,494 |
Employee_Equity_Incentive_Plan4
Employee Equity Incentive Plans and Stock-Based Compensation Expense - Summary of Restricted Stock Plan Activity (Detail) (Restricted stock awards and restricted stock units [Member], USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Restricted stock awards and restricted stock units [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding, Beginning Balance, Shares | 642 |
Granted, Shares | 388 |
Vested/Released, Shares | -192 |
Cancelled, Shares | -48 |
Outstanding, Ending Balance, Shares | 790 |
Weighted Average Grant Date Fair Values, Outstanding, Beginning Balance | $29.74 |
Weighted Average Grant Date Fair Values, Granted | $37.88 |
Weighted Average Grant Date Fair Values, Vested/Released | $31.05 |
Weighted Average Grant Date Fair Values, Cancelled | $33.89 |
Weighted Average Grant Date Fair Values, Outstanding, Ending Balance | $33.17 |
Employee_Equity_Incentive_Plan5
Employee Equity Incentive Plans and Stock-Based Compensation Expense - Summary of Assumptions to Estimate Fair Value (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Option Shares [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected Term (in years) | '4 years 5 months 1 day | '4 years 4 months 13 days | '4 years 4 months 28 days | '4 years 4 months 17 days |
Volatility | 0.43% | 0.53% | 0.42% | 0.53% |
Expected Dividends | 0.00% | 0.00% | 0.00% | 0.00% |
Risk Free Interest Rates | 1.55% | 0.63% | 0.83% | 0.81% |
Estimated Forfeitures | 7.61% | 7.63% | 7.61% | 7.63% |
Weighted Average Fair Value Per Share | $13.27 | $16.40 | $13.93 | $15.73 |
Employee Stock Purchase Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected Term (in years) | '1 year 3 months | '1 year 3 months | '1 year 3 months | '1 year 3 months |
Volatility | 0.39% | 0.54% | 0.42% | 0.54% |
Expected Dividends | 0.00% | 0.00% | 0.00% | 0.00% |
Risk Free Interest Rates | 0.20% | 0.19% | 0.19% | 0.18% |
Weighted Average Fair Value Per Share | $11.42 | $12.17 | $12.10 | $13.13 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Benefit from (provision for) income taxes | $347 | $607 | $1,000 | ($940) |
Commitments_and_contingencies_1
Commitments and contingencies - Summary of Purchase Commitments (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2013 (remaining three months) | $5,546 |
2014 | 17,892 |
2015 | 1,944 |
2016 | 1,716 |
2017 | 1,716 |
Thereafter | ' |
Total minimum payments | $28,814 |
Investments_Schedule_of_Availa
Investments - Schedule of Available-for-Sale Marketable Securities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Short-term investments [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale marketable securities, Cost | $5,785 | ' |
Available-for-sale marketable securities, Gross Unrealized Gain | 1 | ' |
Available-for-sale marketable securities, Gross Unrealized Loss | -1 | ' |
Available-for-sale marketable securities, Estimated Fair Value | 5,785 | ' |
Short-term investments [Member] | Corporate debt securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale marketable securities, Cost | 1,889 | ' |
Available-for-sale marketable securities, Gross Unrealized Gain | ' | ' |
Available-for-sale marketable securities, Gross Unrealized Loss | -1 | ' |
Available-for-sale marketable securities, Estimated Fair Value | 1,888 | ' |
Short-term investments [Member] | Commercial paper [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale marketable securities, Cost | 8,005 | ' |
Available-for-sale marketable securities, Gross Unrealized Gain | 1 | ' |
Available-for-sale marketable securities, Gross Unrealized Loss | ' | ' |
Available-for-sale marketable securities, Estimated Fair Value | 8,006 | ' |
Short-term investments [Member] | Amounts classified as cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale marketable securities, Cost | -4,109 | ' |
Available-for-sale marketable securities, Gross Unrealized Gain | ' | ' |
Available-for-sale marketable securities, Gross Unrealized Loss | ' | ' |
Available-for-sale marketable securities, Estimated Fair Value | -4,109 | ' |
Investments [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale marketable securities, Cost | 9,970 | ' |
Available-for-sale marketable securities, Gross Unrealized Gain | 10 | ' |
Available-for-sale marketable securities, Gross Unrealized Loss | ' | ' |
Available-for-sale marketable securities, Estimated Fair Value | 9,980 | ' |
Investments [Member] | Corporate debt securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale marketable securities, Cost | 2,427 | ' |
Available-for-sale marketable securities, Gross Unrealized Gain | 3 | ' |
Available-for-sale marketable securities, Gross Unrealized Loss | ' | ' |
Available-for-sale marketable securities, Estimated Fair Value | 2,430 | ' |
Investments [Member] | United States government securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale marketable securities, Cost | 2,987 | ' |
Available-for-sale marketable securities, Gross Unrealized Gain | 5 | ' |
Available-for-sale marketable securities, Gross Unrealized Loss | ' | ' |
Available-for-sale marketable securities, Estimated Fair Value | 2,992 | ' |
Investments [Member] | Government agencies securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale marketable securities, Cost | 3,806 | ' |
Available-for-sale marketable securities, Gross Unrealized Gain | 2 | ' |
Available-for-sale marketable securities, Gross Unrealized Loss | ' | ' |
Available-for-sale marketable securities, Estimated Fair Value | 3,808 | ' |
Investments [Member] | Other [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale marketable securities, Cost | 750 | ' |
Available-for-sale marketable securities, Gross Unrealized Gain | ' | ' |
Available-for-sale marketable securities, Gross Unrealized Loss | ' | ' |
Available-for-sale marketable securities, Estimated Fair Value | $750 | ' |
Investments_Additional_Informa
Investments - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' | ' | ' |
Proceeds from sales of marketable securities | $0 | $0 | $0 | $0 |
Investments_Schedule_of_Gross_
Investments - Schedule of Gross Realized Gains and Losses of Marketable Securities (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' | ' | ' |
Gross realized gains | ' | ' | ' | ' |
Gross realized losses | ' | ' | ' | ' |
Realized gains (losses)-net | ' | ' | ' | ' |
Investments_Schedule_of_Market
Investments - Schedule of Marketable Securities with Unrealized Losses (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months, Fair Value | $2,235 | ' |
Less Than 12 months, Unrealized Loss | -1 | ' |
More than 12 months, Fair Value | 562 | ' |
More than 12 months, Unrealized Loss | ' | ' |
Total, Fair Value | 2,797 | ' |
Total, Unrealized Loss | -1 | ' |
Corporate debt securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months, Fair Value | 1,386 | ' |
Less Than 12 months, Unrealized Loss | -1 | ' |
More than 12 months, Fair Value | 562 | ' |
More than 12 months, Unrealized Loss | ' | ' |
Total, Fair Value | 1,948 | ' |
Total, Unrealized Loss | -1 | ' |
Commercial paper [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months, Fair Value | 849 | ' |
Less Than 12 months, Unrealized Loss | ' | ' |
More than 12 months, Fair Value | ' | ' |
More than 12 months, Unrealized Loss | ' | ' |
Total, Fair Value | 849 | ' |
Total, Unrealized Loss | ' | ' |
Investments_Schedule_of_Amorti
Investments - Schedule of Amortized Cost and Estimated Fair Value of Available-for-Sale Debt Securities by Contractual Maturity (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Mature in one year or less, Amortized Cost | $5,785 | ' |
Mature after one year through three years, Amortized Cost | 9,970 | ' |
Mature in more than three years, Amortized Cost | ' | ' |
Total debt securities, Amortized Cost | 15,755 | ' |
Securities with no contractual maturity, Amortized Cost | ' | ' |
Total, Amortized Cost | 15,755 | ' |
Mature in one year or less, Estimated Fair Value | 5,785 | ' |
Mature after one year through three years, Estimated Fair Value | 9,980 | ' |
Mature in more than three years, Estimated Fair Value | ' | ' |
Total debt securities, Estimated Fair Value | 15,765 | ' |
Securities with no contractual maturity, Estimated Fair Value | ' | ' |
Total, Estimated Fair Value | $15,765 | ' |
Fair_Value_Assets_and_Liabilit
Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash | ' | $84,906 | ' | ' |
Cash and cash equivalents | 68,753 | 95,779 | 103,520 | 115,008 |
Cash equivalents - money market funds | ' | 10,873 | ' | ' |
Total short-term investments: | 5,785 | ' | ' | ' |
Foreign currency derivatives | 1,119 | 1,458 | ' | ' |
Assets Total | 85,637 | 97,237 | ' | ' |
Foreign currency derivatives | 1,167 | 1,572 | ' | ' |
Contingent consideration | 379 | 550 | ' | ' |
Liabilities Total | 1,546 | 2,122 | ' | ' |
Total investments | 9,980 | ' | ' | ' |
Corporate debt securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total short-term investments: | 1,888 | ' | ' | ' |
Total investments | 2,430 | ' | ' | ' |
Commercial Paper [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total short-term investments: | 3,897 | ' | ' | ' |
Us Government Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | 2,992 | ' | ' | ' |
Government Agencies Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | 3,808 | ' | ' | ' |
Other Long-term Investments [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | 750 | ' | ' | ' |
Level 1 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash | ' | 84,906 | ' | ' |
Cash and cash equivalents | 64,894 | ' | ' | ' |
Cash equivalents - money market funds | ' | 10,873 | ' | ' |
Total short-term investments: | ' | ' | ' | ' |
Foreign currency derivatives | ' | ' | ' | ' |
Assets Total | 64,894 | 95,779 | ' | ' |
Foreign currency derivatives | ' | ' | ' | ' |
Contingent consideration | ' | ' | ' | ' |
Liabilities Total | ' | ' | ' | ' |
Total investments | ' | ' | ' | ' |
Level 1 [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total short-term investments: | ' | ' | ' | ' |
Total investments | ' | ' | ' | ' |
Level 1 [Member] | Commercial Paper [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total short-term investments: | ' | ' | ' | ' |
Level 1 [Member] | Us Government Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | ' | ' | ' | ' |
Level 1 [Member] | Government Agencies Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | ' | ' | ' | ' |
Level 1 [Member] | Other Long-term Investments [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | ' | ' | ' | ' |
Level 2 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash | ' | ' | ' | ' |
Cash and cash equivalents | 3,859 | ' | ' | ' |
Cash equivalents - money market funds | ' | ' | ' | ' |
Total short-term investments: | 5,785 | ' | ' | ' |
Foreign currency derivatives | 1,119 | 1,458 | ' | ' |
Assets Total | 20,743 | 1,458 | ' | ' |
Foreign currency derivatives | 1,167 | 1,572 | ' | ' |
Contingent consideration | ' | ' | ' | ' |
Liabilities Total | 1,167 | 1,572 | ' | ' |
Total investments | 9,980 | ' | ' | ' |
Level 2 [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total short-term investments: | 1,888 | ' | ' | ' |
Total investments | 2,430 | ' | ' | ' |
Level 2 [Member] | Commercial Paper [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total short-term investments: | 3,897 | ' | ' | ' |
Level 2 [Member] | Us Government Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | 2,992 | ' | ' | ' |
Level 2 [Member] | Government Agencies Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | 3,808 | ' | ' | ' |
Level 2 [Member] | Other Long-term Investments [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | 750 | ' | ' | ' |
Level 3 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Cash equivalents - money market funds | ' | ' | ' | ' |
Total short-term investments: | ' | ' | ' | ' |
Foreign currency derivatives | ' | ' | ' | ' |
Assets Total | ' | ' | ' | ' |
Foreign currency derivatives | ' | ' | ' | ' |
Contingent consideration | 379 | 550 | ' | ' |
Liabilities Total | 379 | 550 | ' | ' |
Total investments | ' | ' | ' | ' |
Level 3 [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total short-term investments: | ' | ' | ' | ' |
Total investments | ' | ' | ' | ' |
Level 3 [Member] | Commercial Paper [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total short-term investments: | ' | ' | ' | ' |
Level 3 [Member] | Us Government Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | ' | ' | ' | ' |
Level 3 [Member] | Government Agencies Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | ' | ' | ' | ' |
Level 3 [Member] | Other Long-term Investments [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Total investments | ' | ' | ' | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Cash flow hedges [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | |||||
Fair Value of Derivatives Designated as Hedge Instruments [Member] | Fair Value of Derivatives Designated as Hedge Instruments [Member] | Fair Value of Derivatives Not Designated as Hedge Instruments [Member] | Fair Value of Derivatives Not Designated as Hedge Instruments [Member] | |||||
Derivative Financial Instruments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Net deferred gain associated with cash flow hedges | $0.10 | ' | $0.10 | ' | ' | ' | ' | ' |
(Loss) gain recognized for foreign currency forward contracts | -0.7 | 0.4 | -0.1 | 0.2 | ' | ' | ' | ' |
Notional principle amounts of Company's derivative instruments | ' | ' | ' | ' | $90.20 | $79.30 | $23.40 | $9.20 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments - Derivative Instruments at Gross Fair Value Reflected in Condensed Consolidated Balance Sheets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Foreign exchange contracts, Assets | $1,119 | $1,458 |
Foreign exchange contracts, Liabilities | -1,167 | -1,572 |
Fair Value of Derivatives Designated as Hedge Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Foreign exchange contracts, Assets | 1,118 | 1,457 |
Foreign exchange contracts, Liabilities | -1,056 | -1,561 |
Fair Value of Derivatives Not Designated as Hedge Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Foreign exchange contracts, Assets | 1 | 1 |
Foreign exchange contracts, Liabilities | ($111) | ($11) |
Derivative_Financial_Instrumen4
Derivative Financial Instruments - Pre-tax Effect of Derivative Instruments Designated as Cash Flow Hedges in Condensed Consolidated Statements of Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain/(loss) Recognized in OCI-Effective Portion | $304 | ($570) | $441 | ($570) |
Gain/(Loss) Reclassified from AOCI into Income-Effective Portion | 141 | -57 | 238 | -57 |
Gain/(Loss) Recognized-Ineffective Portion and Amount Excluded from Effectiveness Testing | -12 | 38 | -10 | 38 |
Foreign exchange contracts, net [Member] | Cash flow hedges [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain/(loss) Recognized in OCI-Effective Portion | 304 | -570 | 441 | -570 |
Gain/(Loss) Reclassified from AOCI into Income-Effective Portion | 141 | -57 | 238 | -57 |
Foreign exchange contracts, net [Member] | Cash flow hedges [Member] | Other expense, net [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized-Ineffective Portion and Amount Excluded from Effectiveness Testing | ($12) | $38 | ($10) | $38 |
Derivative_Financial_Instrumen5
Derivative Financial Instruments - Pre-tax Effect of Derivative Instruments Designated as Cash Flow Hedges in Condensed Consolidated Statements of Operations (Parenthetical) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Net sales | $100,081 | $80,472 | $288,031 | $238,779 |
Costs and operating expenses | 100,915 | 101,250 | 294,136 | 265,161 |
Reclassified from AOCI [Member] | Foreign exchange contracts, net [Member] | Cash flow hedges [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Net sales | 100 | -200 | -900 | -200 |
Costs and operating expenses | ' | $100 | $1,100 | $100 |