Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 31, 2014 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'Pixelworks, Inc. | ' |
Entity Central Index Key | '0001040161 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 22,904,262 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $20,905 | $20,805 |
Accounts receivable, net | 4,124 | 4,761 |
Inventories | 3,019 | 1,663 |
Prepaid expenses and other current assets | 1,426 | 2,858 |
Total current assets | 29,474 | 30,087 |
Property and equipment, net | 7,082 | 4,084 |
Other assets, net | 1,897 | 2,573 |
Total assets | 38,453 | 36,744 |
Current liabilities: | ' | ' |
Accounts payable | 2,484 | 1,327 |
Accrued liabilities and current portion of long-term liabilities | 11,268 | 10,505 |
Current portion of income taxes payable | 241 | 92 |
Short-term line of credit | 3,000 | 3,000 |
Total current liabilities | 16,993 | 14,924 |
Long-term liabilities, net of current portion | 1,746 | 677 |
Income taxes payable, net of current portion | 2,026 | 2,201 |
Total liabilities | 20,765 | 17,802 |
Commitments and contingencies (Note 10) | ' | ' |
Shareholders’ equity: | ' | ' |
Preferred stock | 0 | 0 |
Common stock | 366,279 | 362,644 |
Accumulated other comprehensive loss | -82 | -82 |
Accumulated deficit | -348,509 | -343,620 |
Total shareholders’ equity | 17,688 | 18,942 |
Total liabilities and shareholders’ equity | $38,453 | $36,744 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
Income Statement [Abstract] | ' | ' | ' | ' | ||||
Revenue, net | $15,166 | $9,554 | $28,707 | $17,825 | ||||
Cost of revenue (1) | 7,505 | [1] | 4,932 | [1] | 13,051 | [1] | 9,226 | [1] |
Gross profit | 7,661 | 4,622 | 15,656 | 8,599 | ||||
Operating expenses: | ' | ' | ' | ' | ||||
Research and development (2) | 5,887 | [2] | 6,010 | [2] | 12,272 | [2] | 11,894 | [2] |
Selling, general and administrative (3) | 3,709 | [3] | 3,274 | [3] | 7,758 | [3] | 6,872 | [3] |
Total operating expenses | 9,596 | 9,284 | 20,030 | 18,766 | ||||
Loss from operations | -1,935 | -4,662 | -4,374 | -10,167 | ||||
Interest expense and other, net | -130 | -97 | -252 | -195 | ||||
Loss before income taxes | -2,065 | -4,759 | -4,626 | -10,362 | ||||
Provision (benefit) for income taxes | 317 | 165 | 263 | -33 | ||||
Net loss | ($2,382) | ($4,924) | ($4,889) | ($10,329) | ||||
Net loss per share - basic and diluted | ($0.11) | ($0.26) | ($0.22) | ($0.56) | ||||
Weighted average shares outstanding - basic and diluted | 22,667 | [4] | 18,652 | [4] | 22,437 | [4] | 18,554 | [4] |
[1] | Includes: Additional amortization of non-cancelable prepaid royalty 35 98 91 189 Stock-based compensation 41 31 130 71 | |||||||
[2] | Includes: Stock-based compensation 413 215 1,239 473 | |||||||
[3] | Includes: Stock-based compensation 487 354 1,275 740 | |||||||
[4] | The increase in shares from the first half of 2013 to the first half of 2014 is due primarily to the sale of approximately 3,025 shares of common stock in an underwritten registered offering during August 2013. |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Operations (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Cost of Sales [Member] | ' | ' | ' | ' |
Additional amortization of non-cancelable prepaid royalty | $35 | $98 | $91 | $189 |
Stock-based compensation | 41 | 31 | 130 | 71 |
Research and Development Expense [Member] | ' | ' | ' | ' |
Stock-based compensation | 413 | 215 | 1,239 | 473 |
General and Administrative Expense [Member] | ' | ' | ' | ' |
Stock-based compensation | $487 | $354 | $1,275 | $740 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net loss | ($4,889) | ($10,329) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ' | ' |
Stock-based compensation | 2,644 | 1,284 |
Depreciation and amortization | 2,285 | 2,139 |
Reversal of uncertain tax positions | -270 | -452 |
Deferred income tax expense | 160 | 0 |
Other | 44 | 53 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable, net | 637 | 1,159 |
Inventories | -1,356 | 793 |
Prepaid expenses and other current and long-term assets, net | 1,770 | 477 |
Accounts payable | 1,066 | -438 |
Accrued current and long-term liabilities | 6 | 557 |
Income taxes payable | 245 | 168 |
Net cash provided by (used in) operating activities | 2,342 | -4,589 |
Cash flows from investing activities: | ' | ' |
Purchases of property and equipment | -2,196 | -308 |
Purchases of other assets | 0 | -98 |
Net cash used in investing activities | -2,196 | -406 |
Cash flows from financing activities: | ' | ' |
Payments on asset financings | -1,037 | -838 |
Proceeds from issuances of common stock | 991 | 160 |
Proceeds from line of credit | 0 | 3,500 |
Net cash provided by (used in) financing activities | -46 | 2,822 |
Net increase (decrease) in cash and cash equivalents | 100 | -2,173 |
Cash and cash equivalents, beginning of period | 20,805 | 13,404 |
Cash and cash equivalents, end of period | $20,905 | $11,231 |
Basis_of_Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation | ' |
BASIS OF PRESENTATION | |
Nature of Business | |
Pixelworks designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom ASIC solutions for high-quality digital video applications. Our products allow manufacturers and developers of digital display and projection devices to manufacture screens of all sizes that display the highest video quality with minimum power consumption. Our core video display processing technology intelligently processes video signals from a variety of sources and optimizes the image for the viewer. The continued advancement of display technology and rapid growth of video consumption on digital delivery systems and mobile applications has increased the demand for video display processing technology in recent years. Our products are used in a range of devices from large flat panel displays to small low power mobile applications. Our products are designed to reduce overall system power requirements and reduce costs for our customers by minimizing bandwidth. Our primary target markets include digital projection systems, digital televisions, UltrabookTM devices, tablets, and smartphones. | |
We have an intellectual property portfolio of 125 patents related to the visual display of digital image data. Pixelworks was founded in 1997 and is incorporated under the laws of the state of Oregon. | |
Condensed Consolidated Financial Statements | |
The financial information included herein for the three and six month periods ended June 30, 2014 and 2013 is prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and is unaudited. In our opinion, such information reflects all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the Company's condensed consolidated financial statements for these interim periods. The financial information as of December 31, 2013 is derived from our audited consolidated financial statements and notes thereto for the fiscal year ended December 31, 2013, included in Item 8 of our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 5, 2014, and should be read in conjunction with such consolidated financial statements. | |
The results of operations for the three and six month periods ended June 30, 2014 are not necessarily indicative of the results expected for the entire fiscal year ending December 31, 2014. | |
Comprehensive Loss | |
The Company reports comprehensive income (loss) and its components following guidance set forth by the Financial Accounting Standards Board (“FASB”), Accounting Standards Codification section 220-10, Comprehensive Income, which establishes standards for the reporting and display of comprehensive income or loss and its components in the financial statements. During the three and six month periods ended June 30, 2014 and 2013, aside from our net loss, there were no other items of comprehensive income or loss and therefore the Company has not included a statement of comprehensive loss in our interim condensed consolidated financial statements. | |
Recent Accounting Pronouncements | |
In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), which requires that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. ASU 2014-09 allows for either full retrospective or modified retrospective adoption and will become effective for the Company on January 1, 2017. The Company is evaluating the alternative transition methods and the potential effects of the adoption of this update on its financial position, results of operations and cash flows. | |
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("ASU 2013-11"), which will require an unrecognized tax benefit, or a portion of an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, unless an exception applies. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2013. The Company adopted ASU 2013-11 in the first quarter of 2014. The adoption of ASU 2013-11 did not have a material impact on the Company’s financial position, results of operations or cash flows as a result of this change. | |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the financial statements and accompanying notes. Our significant estimates and judgments include those related to revenue recognition, product returns, warranty obligations, bad debts, inventories, property and equipment, impairment of long-lived assets, amortization of prepaid royalties, valuation of share-based payments, income taxes, litigation and other contingencies. The actual results experienced could differ materially from our estimates. |
Balance_Sheet_Components
Balance Sheet Components | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Balance Sheet Components | ' | |||||||
BALANCE SHEET COMPONENTS | ||||||||
Accounts Receivable, Net | ||||||||
Accounts receivable are recorded at invoiced amount and do not bear interest when recorded or accrue interest when past due. Accounts receivable are stated net of an allowance for doubtful accounts, which is maintained for estimated losses that may result from the inability of our customers to make required payments. | ||||||||
Accounts receivable consists of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Accounts receivable, gross | $ | 4,434 | $ | 5,076 | ||||
Less: allowance for doubtful accounts | (310 | ) | (315 | ) | ||||
Accounts receivable, net | $ | 4,124 | $ | 4,761 | ||||
The following is the change in our allowance for doubtful accounts: | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Balance at beginning of period | $ | 315 | $ | 352 | ||||
Reductions credited | (5 | ) | (10 | ) | ||||
Balance at end of period | $ | 310 | $ | 342 | ||||
Inventories | ||||||||
Inventories consist of finished goods and work-in-process, and are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or market (net realizable value). | ||||||||
Inventories consist of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Finished goods | $ | 1,395 | $ | 793 | ||||
Work-in-process | 1,624 | 870 | ||||||
Inventories | $ | 3,019 | $ | 1,663 | ||||
Property and Equipment, Net | ||||||||
Property and equipment consists of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Gross carrying amount | $ | 26,541 | $ | 21,733 | ||||
Less: accumulated depreciation and amortization | (19,459 | ) | (17,649 | ) | ||||
Property and equipment, net | $ | 7,082 | $ | 4,084 | ||||
Accrued Liabilities and Current Portion of Long-Term Liabilities | ||||||||
Accrued liabilities and current portion of long-term liabilities consist of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Accrued payroll and related liabilities | $ | 3,290 | $ | 2,261 | ||||
Current portion of accrued liabilities for asset financings | 3,027 | 2,251 | ||||||
Accrued commissions and royalties | 2,026 | 1,862 | ||||||
Accrued interest payable | 1,276 | 1,087 | ||||||
Reserve for warranty returns | 254 | 329 | ||||||
Deferred revenue | 197 | 1,271 | ||||||
Other | 1,198 | 1,444 | ||||||
Accrued liabilities and current portion of long-term liabilities | $ | 11,268 | $ | 10,505 | ||||
The following is the change in our reserve for warranty returns: | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Reserve for warranty returns: | ||||||||
Balance at beginning of period | $ | 329 | $ | 457 | ||||
Provision (benefit) | (53 | ) | 120 | |||||
Charge-offs | (22 | ) | (193 | ) | ||||
Balance at end of period | $ | 254 | $ | 384 | ||||
Short-Term Line of Credit | ||||||||
On December 21, 2010, we entered into a Loan and Security Agreement (the "Revolving Loan Agreement") with Silicon Valley Bank (the "Bank"). On December 14, 2012, we and the Bank entered into Amendment No. 1 to the Revolving Loan Agreement. The Revolving Loan Agreement, as amended, provides a secured working capital-based revolving line of credit (the "Revolving Line") in an aggregate amount of up to the lesser of (i) $10,000, or (ii) $1,000 plus 80% of eligible domestic accounts receivable and certain foreign accounts receivable. On December 4, 2013, we and the Bank entered into Amendment No. 2 (the "Amendment No. 2") to the Revolving Loan Agreement which changes the maturity date of the revolving line of credit provided pursuant to the Revolving Loan Agreement to January 1, 2016. The maturity date was previously December 14, 2014, as provided by Amendment No. 1 to the Revolving Loan Agreement. In addition, the Revolving Loan Agreement, as amended, provides for non-formula advances of up to $10,000 which may be made solely during the last five business days of any fiscal month or quarter and which must be repaid by the Company on or before the fifth business day after the applicable fiscal month or quarter end. Due to their repayment terms, non-formula advances do not provide the Company with usable liquidity. | ||||||||
The Revolving Loan Agreement, as amended, contains customary affirmative and negative covenants as well as customary events of default. The occurrence of an event of default could result in the acceleration of the Company's obligations under the Revolving Loan Agreement, as amended, and an increase to the applicable interest rate, and would permit the Bank to exercise remedies with respect to its security interest. As of June 30, 2014, we were in compliance with all of the terms of the Revolving Loan Agreement, as amended. | ||||||||
Short-term borrowings outstanding under the Revolving Line consisted of non-formula advances of $3,000 as of June 30, 2014 and as of December 31, 2013, both advances were repaid within required terms. The weighted-average interest rate on short-term borrowings outstanding as of June 30, 2014 and December 31, 2013 was 3.5%. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Three levels of inputs may be used to measure fair value: | ||||||||||||||||
Level 1: | Valuations based on quoted prices in active markets for identical assets and liabilities. | |||||||||||||||
Level 2: | Valuations based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. | |||||||||||||||
Level 3: | Valuations based on unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions. | |||||||||||||||
The following table presents information about our assets measured at fair value on a recurring basis in the condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
As of June 30, 2014: | ||||||||||||||||
Money market funds | $ | 19,783 | $ | — | $ | — | $ | 19,783 | ||||||||
As of December 31, 2013: | ||||||||||||||||
Money market funds | $ | 20,396 | $ | — | $ | — | $ | 20,396 | ||||||||
We primarily use the market approach to determine the fair value of our financial assets. The fair value of our current assets and liabilities, including accounts receivable and accounts payable approximates the carrying value due to the short-term nature of these balances. We have currently chosen not to elect the fair value option for any items that are not already required to be measured at fair value in accordance with GAAP. |
Research_and_Development
Research and Development | 6 Months Ended |
Jun. 30, 2014 | |
Research and Development [Abstract] | ' |
Research and Development | ' |
RESEARCH AND DEVELOPMENT | |
During 2012, we entered into a best efforts co-development agreement (the “Co-development Agreement”) with a customer to defray a portion of the research and development expenses that would be incurred in connection with our development of an integrated circuit ("IC") product to be sold exclusively to the customer. Under the Co-development Agreement, we retain ownership of any modifications or improvements that are made to our pre-existing intellectual property and may use such improvements in products sold to other customers. | |
At the completion of certain development milestones under the Co-development Agreement, we invoiced the customer and recognized offsets to research and development expense of $3,500 in each of 2012 and 2013. All milestones under the Co-development Agreement were completed as of December 31, 2013. |
Income_Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Incomes Taxes | ' |
INCOME TAXES | |
The provision (benefit) for income taxes during the 2014 and 2013 periods is primarily comprised of current and deferred tax expense in profitable cost-plus foreign jurisdictions, accruals for tax contingencies in foreign jurisdictions and benefits for the reversal of previously recorded foreign tax contingencies due to the expiration of the applicable statutes of limitation. We recorded a benefit for the reversal of previously recorded tax contingencies of $270 and $452 during the first half of 2014 and 2013, respectively. | |
As we do not believe that it is more likely than not that we will realize a benefit from our U.S. net deferred tax assets, including our U.S. net operating losses, we continue to provide a full valuation allowance against essentially all of those assets, therefore, we do not incur significant U.S. income tax expense or benefit. We have not recorded a valuation allowance against our other foreign net deferred tax assets as we believe that it is more likely than not that we will realize a benefit from those assets. | |
As of June 30, 2014 and December 31, 2013, the amount of our uncertain tax positions was a liability of $1,659 and $1,897, respectively. A number of years may elapse before an uncertain tax position is resolved by settlement or statute of limitation. Settlement of any particular position could require the use of cash. If the uncertain tax positions we have accrued for are sustained by the taxing authorities in our favor, the reduction of the liability will reduce our effective tax rate. We reasonably expect reductions in the liability for unrecognized tax benefits and interest and penalties of approximately $96 within the next twelve months due to the expiration of statutes of limitation in foreign jurisdictions. We recognize interest and penalties related to uncertain tax positions in income tax expense in our consolidated statements of operations. | |
Our Chinese subsidiary was designated as an Advanced Technology Service Enterprise, allowing it to benefit from a Chinese tax holiday resulting in a reduction of its tax rate to 15%. The tax holiday expired on December 31, 2013, and therefore, our tax rate in China returned to 25% on January 1, 2014. We are currently making efforts to apply for an extension of the tax holiday. If an extension is granted, the impact of the extension of the tax holiday will be recognized in the quarter in which the extension has been approved by the tax authorities. | |
The American Taxpayer Relief Act of 2012, which reinstated the United States federal research and development tax credit retroactively from January 1, 2012 through December 31, 2013, was not enacted into law until the first quarter of 2013. Therefore, the deferred tax asset resulting from such reinstatement for 2012 was reflected in 2013. No additional credit has been reflected for 2014 as the credit has not been extended beyond December 31, 2013. If the credit is extended for 2014, we do not expect it to have a material impact on the financial statements. |
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
EARNINGS PER SHARE | ||||||||||||||||
The following table sets forth the computation of basic and diluted net loss per share: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net loss | $ | (2,382 | ) | $ | (4,924 | ) | $ | (4,889 | ) | $ | (10,329 | ) | ||||
Shares used in computing net loss per share - basic and diluted 1 | 22,667 | 18,652 | 22,437 | 18,554 | ||||||||||||
Net loss per common share - basic and diluted | $ | (0.11 | ) | $ | (0.26 | ) | $ | (0.22 | ) | $ | (0.56 | ) | ||||
1 | The increase in shares from the first half of 2013 to the first half of 2014 is due primarily to the sale of approximately 3,025 shares of common stock in an underwritten registered offering during August 2013. | |||||||||||||||
The following weighted average shares were excluded from the calculation of diluted net loss per share as their effect would have been anti-dilutive: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Employee equity incentive plans | 4,223 | 4,274 | 4,425 | 4,316 | ||||||||||||
Potentially dilutive common shares from employee equity incentive plans are determined by applying the treasury stock method to the assumed exercise of outstanding stock options, the assumed vesting of outstanding restricted stock units, and the assumed issuance of common stock under the employee stock purchase plan. |
Supplemental_Disclosure_of_Cas
Supplemental Disclosure of Cash Flow Information | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||
Supplemental Disclosure of Cash Flow Information | ' | |||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||||||
Supplemental disclosure of cash flow information is as follows: | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Cash paid during the period for: | ||||||||
Interest | $ | 73 | $ | 70 | ||||
Income taxes | 81 | 215 | ||||||
Non-cash investing and financing activities: | ||||||||
Acquisitions of property and equipment and other assets under extended payment terms | $ | 2,825 | $ | 42 | ||||
Segment_Information
Segment Information | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||
We have identified a single operating segment: the design and development of ICs for use in electronic display devices. The majority of our assets are located in the United States. | ||||||||||||||||
Geographic Information | ||||||||||||||||
Revenue by geographic region, attributed to countries based on the domicile of the end customer, is as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Japan | $ | 8,647 | $ | 4,685 | $ | 14,073 | $ | 9,586 | ||||||||
Taiwan | 3,239 | 1,873 | 4,953 | 3,526 | ||||||||||||
China | 1,413 | 1,453 | 2,379 | 1,886 | ||||||||||||
Korea | 775 | 518 | 2,371 | 808 | ||||||||||||
Europe | 507 | 492 | 1,021 | 935 | ||||||||||||
United States | 145 | 124 | 3,191 | 238 | ||||||||||||
Other | 440 | 409 | 719 | 846 | ||||||||||||
$ | 15,166 | $ | 9,554 | $ | 28,707 | $ | 17,825 | |||||||||
Significant Customers | ||||||||||||||||
The percentage of revenue attributable to our distributors, top five end customers, and individual distributors or end customers that represented 10% or more of revenue in at least one of the periods presented, is as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Distributors: | ||||||||||||||||
All distributors | 80 | % | 78 | % | 69 | % | 79 | % | ||||||||
Distributor A | 39 | % | 41 | % | 34 | % | 42 | % | ||||||||
Distributor B | 16 | % | 9 | % | 11 | % | 10 | % | ||||||||
Distributor C | 8 | % | 15 | % | 7 | % | 10 | % | ||||||||
End customers: 1 | ||||||||||||||||
Top five end customers | 61 | % | 59 | % | 50 | % | 54 | % | ||||||||
End customer A | 20 | % | 16 | % | 15 | % | 15 | % | ||||||||
End customer B | 14 | % | 5 | % | 10 | % | 5 | % | ||||||||
End customer C | 10 | % | 16 | % | 11 | % | 17 | % | ||||||||
End customer D | 10 | % | 6 | % | 6 | % | 5 | % | ||||||||
1 | End customers include customers who purchase directly from us, as well as customers who purchase our products indirectly through distributors. | |||||||||||||||
The following accounts represented 10% or more of total accounts receivable in at least one of the periods presented: | ||||||||||||||||
June 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Account A | 27 | % | 11 | % | ||||||||||||
Account B | 22 | % | 8 | % | ||||||||||||
Account C | 19 | % | 2 | % | ||||||||||||
Account D | 1 | % | 14 | % | ||||||||||||
Account E | 0 | % | 45 | % |
Risks_and_Uncertainties
Risks and Uncertainties | 6 Months Ended |
Jun. 30, 2014 | |
Risks and Uncertainties [Abstract] | ' |
Risks and Uncertainties | ' |
RISKS AND UNCERTAINTIES | |
Concentration of Suppliers | |
We do not own or operate a semiconductor fabrication facility and do not have the resources to manufacture our products internally. We rely on a limited number of foundries and assembly and test vendors to produce all of our wafers and for completion of finished products. We do not have any long-term agreements with any of these suppliers. In light of these dependencies, it is reasonably possible that failure to perform by one of these suppliers could have a severe impact on our results of operations. Additionally, the concentration of these vendors within Taiwan, the People’s Republic of China and Singapore increases our risk of supply disruption due to natural disasters, economic instability, political unrest or other regional disturbances. | |
Risk of Technological Change | |
The markets in which we compete, or seek to compete, are subject to rapid technological change, frequent new product introductions, changing customer requirements for new products and features, and evolving industry standards. The introduction of new technologies and the emergence of new industry standards could render our products less desirable or obsolete, which could harm our business. | |
Concentrations of Credit Risk | |
Financial instruments that potentially subject us to concentrations of credit risk consist of cash equivalents and accounts receivable. We limit our exposure to credit risk associated with cash equivalent balances by holding our funds in high quality, highly liquid money market accounts. We limit our exposure to credit risk associated with accounts receivable by carefully evaluating creditworthiness before offering terms to customers. |
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
COMMITMENTS AND CONTINGENCIES | |
Indemnifications | |
Certain of our agreements include indemnification provisions for claims from third-parties relating to our intellectual property. It is not possible for us to predict the maximum potential amount of future payments or indemnification costs under these or similar agreements due to the conditional nature of our obligations and the unique facts and circumstances involved in each particular agreement. We have not made any payments under these agreements in the past, and as of June 30, 2014, we have not incurred any material liabilities arising from these indemnification obligations. In the future, however, such obligations could materially impact our results of operations. | |
Legal Proceedings | |
We are subject to legal matters that arise from time to time in the ordinary course of our business. Although we currently believe that resolving such matters, individually or in the aggregate, will not have a material adverse effect on our financial position, our results of operations, or our cash flows, these matters are subject to inherent uncertainties and our view of these matters may change in the future. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), which requires that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. ASU 2014-09 allows for either full retrospective or modified retrospective adoption and will become effective for the Company on January 1, 2017. The Company is evaluating the alternative transition methods and the potential effects of the adoption of this update on its financial position, results of operations and cash flows. | |
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("ASU 2013-11"), which will require an unrecognized tax benefit, or a portion of an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, unless an exception applies. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2013. The Company adopted ASU 2013-11 in the first quarter of 2014. The adoption of ASU 2013-11 did not have a material impact on the Company’s financial position, results of operations or cash flows as a result of this change. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the financial statements and accompanying notes. Our significant estimates and judgments include those related to revenue recognition, product returns, warranty obligations, bad debts, inventories, property and equipment, impairment of long-lived assets, amortization of prepaid royalties, valuation of share-based payments, income taxes, litigation and other contingencies. The actual results experienced could differ materially from our estimates. | |
Receivables, Policy | ' |
Accounts receivable are recorded at invoiced amount and do not bear interest when recorded or accrue interest when past due. Accounts receivable are stated net of an allowance for doubtful accounts, which is maintained for estimated losses that may result from the inability of our customers to make required payments. | |
Inventory, Policy | ' |
Inventories consist of finished goods and work-in-process, and are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or market (net realizable value). |
Balance_Sheet_Components_Table
Balance Sheet Components (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Accounts Receivable, Net | ' | |||||||
Accounts receivable consists of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Accounts receivable, gross | $ | 4,434 | $ | 5,076 | ||||
Less: allowance for doubtful accounts | (310 | ) | (315 | ) | ||||
Accounts receivable, net | $ | 4,124 | $ | 4,761 | ||||
Allowance for Doubtful Accounts | ' | |||||||
The following is the change in our allowance for doubtful accounts: | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Balance at beginning of period | $ | 315 | $ | 352 | ||||
Reductions credited | (5 | ) | (10 | ) | ||||
Balance at end of period | $ | 310 | $ | 342 | ||||
Inventories | ' | |||||||
Inventories consist of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Finished goods | $ | 1,395 | $ | 793 | ||||
Work-in-process | 1,624 | 870 | ||||||
Inventories | $ | 3,019 | $ | 1,663 | ||||
Property and Equipment, Net | ' | |||||||
Property and equipment consists of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Gross carrying amount | $ | 26,541 | $ | 21,733 | ||||
Less: accumulated depreciation and amortization | (19,459 | ) | (17,649 | ) | ||||
Property and equipment, net | $ | 7,082 | $ | 4,084 | ||||
Accrued Liabilities and Current Portion of Long-Term Liabilities | ' | |||||||
Accrued liabilities and current portion of long-term liabilities consist of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Accrued payroll and related liabilities | $ | 3,290 | $ | 2,261 | ||||
Current portion of accrued liabilities for asset financings | 3,027 | 2,251 | ||||||
Accrued commissions and royalties | 2,026 | 1,862 | ||||||
Accrued interest payable | 1,276 | 1,087 | ||||||
Reserve for warranty returns | 254 | 329 | ||||||
Deferred revenue | 197 | 1,271 | ||||||
Other | 1,198 | 1,444 | ||||||
Accrued liabilities and current portion of long-term liabilities | $ | 11,268 | $ | 10,505 | ||||
Reserve for Warranty Returns | ' | |||||||
The following is the change in our reserve for warranty returns: | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Reserve for warranty returns: | ||||||||
Balance at beginning of period | $ | 329 | $ | 457 | ||||
Provision (benefit) | (53 | ) | 120 | |||||
Charge-offs | (22 | ) | (193 | ) | ||||
Balance at end of period | $ | 254 | $ | 384 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Schedule of Fair Value, Assets Measured on Recurring Basis | ' | |||||||||||||||
The following table presents information about our assets measured at fair value on a recurring basis in the condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
As of June 30, 2014: | ||||||||||||||||
Money market funds | $ | 19,783 | $ | — | $ | — | $ | 19,783 | ||||||||
As of December 31, 2013: | ||||||||||||||||
Money market funds | $ | 20,396 | $ | — | $ | — | $ | 20,396 | ||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
The following table sets forth the computation of basic and diluted net loss per share: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net loss | $ | (2,382 | ) | $ | (4,924 | ) | $ | (4,889 | ) | $ | (10,329 | ) | ||||
Shares used in computing net loss per share - basic and diluted 1 | 22,667 | 18,652 | 22,437 | 18,554 | ||||||||||||
Net loss per common share - basic and diluted | $ | (0.11 | ) | $ | (0.26 | ) | $ | (0.22 | ) | $ | (0.56 | ) | ||||
1 | The increase in shares from the first half of 2013 to the first half of 2014 is due primarily to the sale of approximately 3,025 shares of common stock in an underwritten registered offering during August 2013. | |||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | |||||||||||||||
The following weighted average shares were excluded from the calculation of diluted net loss per share as their effect would have been anti-dilutive: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Employee equity incentive plans | 4,223 | 4,274 | 4,425 | 4,316 | ||||||||||||
Supplemental_Disclosure_of_Cas1
Supplemental Disclosure of Cash Flow Information (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||
Supplemental Cash Flow Information | ' | |||||||
Supplemental disclosure of cash flow information is as follows: | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Cash paid during the period for: | ||||||||
Interest | $ | 73 | $ | 70 | ||||
Income taxes | 81 | 215 | ||||||
Non-cash investing and financing activities: | ||||||||
Acquisitions of property and equipment and other assets under extended payment terms | $ | 2,825 | $ | 42 | ||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Revenue by Geographic Region | ' | |||||||||||||||
Revenue by geographic region, attributed to countries based on the domicile of the end customer, is as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Japan | $ | 8,647 | $ | 4,685 | $ | 14,073 | $ | 9,586 | ||||||||
Taiwan | 3,239 | 1,873 | 4,953 | 3,526 | ||||||||||||
China | 1,413 | 1,453 | 2,379 | 1,886 | ||||||||||||
Korea | 775 | 518 | 2,371 | 808 | ||||||||||||
Europe | 507 | 492 | 1,021 | 935 | ||||||||||||
United States | 145 | 124 | 3,191 | 238 | ||||||||||||
Other | 440 | 409 | 719 | 846 | ||||||||||||
$ | 15,166 | $ | 9,554 | $ | 28,707 | $ | 17,825 | |||||||||
Schedule of Revenue from Significant Customers | ' | |||||||||||||||
The percentage of revenue attributable to our distributors, top five end customers, and individual distributors or end customers that represented 10% or more of revenue in at least one of the periods presented, is as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Distributors: | ||||||||||||||||
All distributors | 80 | % | 78 | % | 69 | % | 79 | % | ||||||||
Distributor A | 39 | % | 41 | % | 34 | % | 42 | % | ||||||||
Distributor B | 16 | % | 9 | % | 11 | % | 10 | % | ||||||||
Distributor C | 8 | % | 15 | % | 7 | % | 10 | % | ||||||||
End customers: 1 | ||||||||||||||||
Top five end customers | 61 | % | 59 | % | 50 | % | 54 | % | ||||||||
End customer A | 20 | % | 16 | % | 15 | % | 15 | % | ||||||||
End customer B | 14 | % | 5 | % | 10 | % | 5 | % | ||||||||
End customer C | 10 | % | 16 | % | 11 | % | 17 | % | ||||||||
End customer D | 10 | % | 6 | % | 6 | % | 5 | % | ||||||||
1 | End customers include customers who purchase directly from us, as well as customers who purchase our products indirectly through distributors. | |||||||||||||||
Schedule of Accounts Receivable Percentage from Significant Customers | ' | |||||||||||||||
The following accounts represented 10% or more of total accounts receivable in at least one of the periods presented: | ||||||||||||||||
June 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Account A | 27 | % | 11 | % | ||||||||||||
Account B | 22 | % | 8 | % | ||||||||||||
Account C | 19 | % | 2 | % | ||||||||||||
Account D | 1 | % | 14 | % | ||||||||||||
Account E | 0 | % | 45 | % |
Basis_of_Presentation_Details
Basis of Presentation (Details) | Jun. 30, 2014 |
Patents | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Number of patents held | 125 |
Balance_Sheet_Components_Accou
Balance Sheet Components (Accounts Receivable) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Accounts Receivable, Net [Abstract] | ' | ' | ' | ' |
Accounts receivable, gross | $4,434 | $5,076 | ' | ' |
Less: allowance for doubtful accounts | -310 | -315 | -342 | -352 |
Accounts receivable, net | $4,124 | $4,761 | ' | ' |
Balance_Sheet_Components_Allow
Balance Sheet Components (Allowance for Doubtful Accounts) (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Allowance for Doubtful Accounts Receivable [Roll Forward] | ' | ' |
Balance at beginning of period | $315 | $352 |
Reductions credited | -5 | -10 |
Balance at end of period | $310 | $342 |
Balance_Sheet_Components_Inven
Balance Sheet Components (Inventories) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ' | ' |
Finished goods | $1,395 | $793 |
Work-in-process | 1,624 | 870 |
Inventories | $3,019 | $1,663 |
Balance_Sheet_Components_Prope
Balance Sheet Components (Property Plant and Equipment) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ' | ' |
Gross carrying amount | $26,541 | $21,733 |
Less: accumulated depreciation and amortization | -19,459 | -17,649 |
Property and equipment, net | $7,082 | $4,084 |
Balance_Sheet_Components_Accru
Balance Sheet Components (Accrued Liabilities and Current Portion of Long-Term Liabilities) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Balance Sheet Related Disclosures [Abstract] | ' | ' | ' | ' |
Accrued payroll and related liabilities | $3,290 | $2,261 | ' | ' |
Current portion of accrued liabilities for asset financings | 3,027 | 2,251 | ' | ' |
Accrued commissions and royalties | 2,026 | 1,862 | ' | ' |
Accrued interest payable | 1,276 | 1,087 | ' | ' |
Reserve for warranty returns | 254 | 329 | 384 | 457 |
Deferred revenue | 197 | 1,271 | ' | ' |
Other | 1,198 | 1,444 | ' | ' |
Accrued liabilities and current portion of long-term liabilities | $11,268 | $10,505 | ' | ' |
Balance_Sheet_Components_Reser
Balance Sheet Components (Reserve for Warranty Returns) (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Movement in Standard Product Warranty Accrual [Roll Forward] | ' | ' |
Balance at beginning of period | $329 | $457 |
Provision (benefit) | -53 | 120 |
Charge-offs | -22 | -193 |
Balance at end of period | $254 | $384 |
Balance_Sheet_Components_Short
Balance Sheet Components (Short-Term Line of Credit) (Narrative) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ' | ' |
Maximum borrowing capacity | $10,000 | ' |
Line of credit facility, component of calculation for maximum borrowing amount under formula advances | 1,000 | ' |
Line of credit facility maximum borrowing capacity limited by eligible AR | 80.00% | ' |
Line of credit facility, maximum borrowing capacity under non-formula advances | 10,000 | ' |
Line of credit facility, amount outstanding | $3,000 | $3,000 |
Short-term debt, weighted average interest rate | 3.50% | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Money market funds | $19,783 | $20,396 |
Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Money market funds | 0 | 0 |
Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Money market funds | 0 | 0 |
Total | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Money market funds | $19,783 | $20,396 |
Research_and_Development_Detai
Research and Development (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Research and Development [Abstract] | ' |
Research and development benefit recognized | $3,500 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Reversal of uncertain tax positions | $270 | $452 | ' |
Liability for uncertain tax positions | 1,659 | ' | 1,897 |
Estimated decrease in total gross unrecogized tax benefits as a result of resolutions of global tax examinations and expiration of applicable statutes of limitations, including interest and penalties | $96 | ' | ' |
China, income tax holiday, reduced statutory rate | 15.00% | ' | ' |
China, statutory income tax rate In foreign country | 25.00% | ' | ' |
Earnings_Per_Share_Earnings_Pe
Earnings Per Share (Earnings Per Share) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||||||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ||||
Net loss | ($2,382) | ' | ($4,924) | ($4,889) | ($10,329) | ||||
Shares used in computing net loss per share - basic and diluted 1 | 22,667 | [1] | ' | 18,652 | [1] | 22,437 | [1] | 18,554 | [1] |
Net loss per common share - basic and diluted | ($0.11) | ' | ($0.26) | ($0.22) | ($0.56) | ||||
Stock issued during period under registered offering, shares | ' | 3,025 | ' | ' | ' | ||||
[1] | The increase in shares from the first half of 2013 to the first half of 2014 is due primarily to the sale of approximately 3,025 shares of common stock in an underwritten registered offering during August 2013. |
Earnings_Per_Share_Antidilutiv
Earnings Per Share (Antidilutive Effect on Weighted Average Shares) (Details) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Employee equity incentive plans (in shares) | 4,223 | 4,274 | 4,425 | 4,316 |
Supplemental_Disclosure_of_Cas2
Supplemental Disclosure of Cash Flow Information (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash paid during the period for: | ' | ' |
Interest | $73 | $70 |
Income taxes | 81 | 215 |
Non-cash investing and financing activities: | ' | ' |
Acquisitions of property and equipment and other assets under extended payment terms | $2,825 | $42 |
Segment_Information_Geographic
Segment Information (Geographic Information) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenue, net | $15,166 | $9,554 | $28,707 | $17,825 |
Japan | ' | ' | ' | ' |
Revenue, net | 8,647 | 4,685 | 14,073 | 9,586 |
Taiwan | ' | ' | ' | ' |
Revenue, net | 3,239 | 1,873 | 4,953 | 3,526 |
China | ' | ' | ' | ' |
Revenue, net | 1,413 | 1,453 | 2,379 | 1,886 |
Korea | ' | ' | ' | ' |
Revenue, net | 775 | 518 | 2,371 | 808 |
Europe | ' | ' | ' | ' |
Revenue, net | 507 | 492 | 1,021 | 935 |
United States | ' | ' | ' | ' |
Revenue, net | 145 | 124 | 3,191 | 238 |
Other | ' | ' | ' | ' |
Revenue, net | $440 | $409 | $719 | $846 |
Segment_Information_Major_Cust
Segment Information (Major Customers) (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2014 | |
Segment Reporting Information | ' |
Number of customers included in five largest customer concentration disclosure | '5 |
Revenue, net | Minimum | ' |
Segment Reporting Information | ' |
Concentration risk benchmark percentage | 10.00% |
Accounts Receivable | Minimum | ' |
Segment Reporting Information | ' |
Concentration risk benchmark percentage | 10.00% |
Segment_Information_Revenue_by
Segment Information (Revenue by Major Customer) (Details) (Revenue, net) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |||||
All distributors | ' | ' | ' | ' | ||||
Revenue, Major Customer | ' | ' | ' | ' | ||||
Percentage of revenue | 80.00% | 78.00% | 69.00% | 79.00% | ||||
Distributor A | ' | ' | ' | ' | ||||
Revenue, Major Customer | ' | ' | ' | ' | ||||
Percentage of revenue | 39.00% | 41.00% | 34.00% | 42.00% | ||||
Distributor B | ' | ' | ' | ' | ||||
Revenue, Major Customer | ' | ' | ' | ' | ||||
Percentage of revenue | 16.00% | 9.00% | 11.00% | 10.00% | ||||
Distributor C | ' | ' | ' | ' | ||||
Revenue, Major Customer | ' | ' | ' | ' | ||||
Percentage of revenue | 8.00% | 15.00% | 7.00% | 10.00% | ||||
Top five end customers | ' | ' | ' | ' | ||||
Revenue, Major Customer | ' | ' | ' | ' | ||||
Percentage of revenue | 61.00% | [1] | 59.00% | [1] | 50.00% | [1] | 54.00% | [1] |
End customer A | ' | ' | ' | ' | ||||
Revenue, Major Customer | ' | ' | ' | ' | ||||
Percentage of revenue | 20.00% | [1] | 16.00% | [1] | 15.00% | [1] | 15.00% | [1] |
End customer B | ' | ' | ' | ' | ||||
Revenue, Major Customer | ' | ' | ' | ' | ||||
Percentage of revenue | 14.00% | [1] | 5.00% | [1] | 10.00% | [1] | 5.00% | [1] |
End customer C | ' | ' | ' | ' | ||||
Revenue, Major Customer | ' | ' | ' | ' | ||||
Percentage of revenue | 10.00% | [1] | 16.00% | [1] | 11.00% | [1] | 17.00% | [1] |
End customer D | ' | ' | ' | ' | ||||
Revenue, Major Customer | ' | ' | ' | ' | ||||
Percentage of revenue | 10.00% | [1] | 6.00% | [1] | 6.00% | [1] | 5.00% | [1] |
[1] | End customers include customers who purchase directly from us, as well as customers who purchase our products indirectly through distributors. |
Segment_Information_Accounts_R
Segment Information (Accounts Receivable by Major Customer) (Details) (Accounts Receivable) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Dec. 31, 2013 | |
Account A | ' | ' |
Segment Reporting Information | ' | ' |
Percentage of accounts receivable | 27.00% | 11.00% |
Account B | ' | ' |
Segment Reporting Information | ' | ' |
Percentage of accounts receivable | 22.00% | 8.00% |
Account C | ' | ' |
Segment Reporting Information | ' | ' |
Percentage of accounts receivable | 19.00% | 2.00% |
Account D | ' | ' |
Segment Reporting Information | ' | ' |
Percentage of accounts receivable | 1.00% | 14.00% |
Account E | ' | ' |
Segment Reporting Information | ' | ' |
Percentage of accounts receivable | 0.00% | 45.00% |