Document_and_Entity_Informatio
Document and Entity Information Document | 9 Months Ended | |
Sep. 30, 2014 | Nov. 03, 2014 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'PDI INC | ' |
Entity Central Index Key | '0001054102 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 15,364,559 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheet (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $27,005 | $45,639 |
Short-term investments | 105 | 103 |
Accounts receivable, net | 3,403 | 2,422 |
Unbilled costs and accrued profits on contracts in progress | 6,338 | 7,982 |
Other current assets | 5,355 | 6,563 |
Total current assets | 42,206 | 62,709 |
Property and equipment, net | 2,945 | 2,789 |
Goodwill | 2,523 | 2,523 |
Intangible Assets, Net (Excluding Goodwill) | 13,459 | 0 |
Other long-term assets | 1,094 | 1,043 |
Total assets | 62,227 | 69,064 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' |
Accounts payable | 2,851 | 2,350 |
Unearned contract revenue | 7,611 | 9,379 |
Accrued salary and bonus | 6,813 | 9,643 |
Other accrued expenses | 11,392 | 10,028 |
Total current liabilities | 28,667 | 31,400 |
Long-term liabilities | 8,136 | 5,185 |
Total liabilities | 36,803 | 36,585 |
Commitments and contingencies (Note 7) | ' | ' |
Stockholders’ equity: | ' | ' |
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, $.01 par value; 40,000,000 shares authorized; 16,549,540 and 16,316,169 shares issued, respectively; 15,359,526 and 15,169,898 shares outstanding, respectively | 165 | 163 |
Additional paid-in capital | 131,991 | 130,229 |
Accumulated deficit | -92,428 | -83,823 |
Accumulated other comprehensive income | 17 | 16 |
Treasury stock, at cost (1,190,014 and 1,146,271 shares, respectively) | -14,321 | -14,106 |
Total stockholders' equity | 25,424 | 32,479 |
Total liabilities and stockholders' equity | $62,227 | $69,064 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheet (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Preferred Stock, Par Value | $0.01 | $0.01 |
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 | $0.01 | $0.01 |
Common Stock, Shares Authorized | 40,000,000 | 40,000,000 |
Common Stock, Shares, Issued | 16,549,540 | 16,316,169 |
Common Stock, Shares, Outstanding | 15,359,526 | 15,169,898 |
Treasury Stock, Shares | 1,190,014 | 1,146,271 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Revenue, net | $29,245 | $34,260 | $93,601 | $114,428 |
Cost of services | 25,510 | 29,564 | 79,966 | 94,410 |
Gross profit | 3,735 | 4,696 | 13,635 | 20,018 |
Compensation expense | 3,678 | 4,231 | 11,081 | 13,300 |
Other selling, general and administrative expenses | 4,280 | 2,517 | 10,797 | 7,364 |
Total operating expenses | 7,958 | 6,748 | 21,878 | 20,664 |
Operating (loss) income | -4,223 | -2,052 | -8,243 | -646 |
Other expense, net | -20 | 3 | -50 | -30 |
(Loss) income from continuing operations before income tax | -4,243 | -2,049 | -8,293 | -676 |
Provision (benefit) for income tax | 64 | 64 | 194 | 192 |
(Loss) income from continuing operations | -4,307 | -2,113 | -8,487 | -868 |
(Loss) income from discontinued operations, net of tax | -29 | -28 | -118 | -31 |
Net (loss) income | -4,336 | -2,141 | -8,605 | -899 |
Other Comprehensive Income (Loss) | ' | ' | ' | ' |
Unrealized holding gain (loss) on available-for-sale securities, net | 1 | 2 | 1 | 2 |
Comprehensive income (loss) | ($4,335) | ($2,139) | ($8,604) | ($897) |
Basic and diluted (loss) income per share of common stock from: | ' | ' | ' | ' |
Income (Loss) from Continuing Operations, Per Basic Share | ($0.29) | ($0.14) | ($0.57) | ($0.06) |
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share | $0 | ($0.01) | ($0.01) | $0 |
Net Income (loss) per basic and diluted share of common stock | ($0.29) | ($0.15) | ($0.58) | ($0.06) |
Continuing operations | ($0.29) | ($0.14) | ($0.57) | ($0.06) |
Discontinued operations | $0 | $0 | $0 | $0 |
Net income (loss) per diluted share of common stock | ($0.29) | ($0.15) | ($0.58) | ($0.06) |
Weighted average number of common shares and common share equivalents outstanding: | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding, Basic | 14,938 | 14,740 | 14,886 | 14,708 |
Diluted | 14,938 | 14,740 | 14,886 | 14,708 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Business Combination, Contingent Consideration, Liability | $4,476,000 | ' |
Net (loss) income | -8,605,000 | -899,000 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 1,328,000 | 922,000 |
Realignment accrual accretion | 106,000 | 106,000 |
Provision for bad debt | 0 | 9,000 |
Stock-based compensation | 1,764,000 | 1,519,000 |
Other changes in assets and liabilities: | ' | ' |
(Increase) decrease in accounts receivable | -981,000 | 6,658,000 |
Decrease (increase) in unbilled costs | 1,644,000 | -4,690,000 |
Decrease in other current assets | 1,752,000 | 2,330,000 |
Decrease in other long-term assets | -9,000 | 0 |
Decrease in accounts payable | 501,000 | -1,620,000 |
Decrease in unearned contract revenue | -1,768,000 | -2,483,000 |
(Decrease) increase in accrued salaries and bonus | -2,830,000 | 957,000 |
Decrease in other accrued expenses | 186,000 | -1,620,000 |
Decrease in long-term liabilities | -1,054,000 | -952,000 |
Net cash used in operating activities | -7,966,000 | 237,000 |
Cash Flows From Investing Activities | ' | ' |
Purchase of property and equipment | -1,298,000 | -1,648,000 |
Payments to Acquire Investments | ' | -1,500,000 |
Payments to Acquire Productive Assets | -8,500,000 | ' |
Loan to the Diagnostic Company | -655,000 | 0 |
Net cash used in investing activities | -10,453,000 | -3,148,000 |
Cash Flows From Financing Activities | ' | ' |
Payments for Repurchase of Common Stock | -215,000 | -245,000 |
Net cash used in financing activities | -215,000 | -245,000 |
Net increase (decrease) in cash and cash equivalents | -18,634,000 | -3,156,000 |
Cash and cash equivalents – beginning | 45,639,000 | 52,783,000 |
Cash and cash equivalents – ending | $27,005,000 | $49,627,000 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation [Text Block] | ' |
BASIS OF PRESENTATION | |
The accompanying unaudited interim condensed consolidated financial statements and related notes (the interim financial statements) should be read in conjunction with the consolidated financial statements of PDI, Inc. and its subsidiaries (the Company or PDI) and related notes as included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 as filed with the Securities and Exchange Commission (SEC) on March 6, 2014. The interim financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The interim financial statements include all normal recurring adjustments that, in the judgment of management, are necessary for a fair presentation of such interim financial statements. All significant intercompany balances and transactions have been eliminated in consolidation. Operating results for the three- and nine-month periods ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Summary of Significant Accounting Policies [Text Block] | ' | |||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||
Accounting Estimates | ||||||||||||
The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities reported and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management's estimates are based on historical experience, facts and circumstances available at the time, and various other assumptions that are believed to be reasonable under the circumstances. Significant estimates include accounting for business combinations, best estimate of selling price in multiple element arrangements, valuation allowances related to deferred income taxes, self-insurance loss accruals, allowances for doubtful accounts and notes, income tax accruals, asset impairments and facilities realignment accruals. The Company periodically reviews these matters and reflects changes in estimates as appropriate. Actual results could materially differ from those estimates. | ||||||||||||
Basic and Diluted Net Loss per Share | ||||||||||||
A reconciliation of the number of shares of common stock used in the calculation of basic and diluted loss per share for the three- and nine-month periods ended September 30, 2014 and 2013 is as follows: | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 30, | September 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Basic weighted average number of common shares | 14,938 | 14,740 | 14,886 | 14,708 | ||||||||
Dilutive effect of stock-based awards | — | — | — | — | ||||||||
Diluted weighted average number of common shares | 14,938 | 14,740 | 14,886 | 14,708 | ||||||||
The following outstanding stock-based awards were excluded from the computation of the effect of dilutive securities on loss per share for the following periods because they would have been anti-dilutive: | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 30, | September 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Options | 25 | 42 | 25 | 42 | ||||||||
Stock-settled stock appreciation rights (SARs) | 1,270 | 796 | 1,270 | 796 | ||||||||
Restricted stock/units | 620 | 600 | 620 | 600 | ||||||||
Market contingent SARs | 188 | 280 | 188 | 280 | ||||||||
2,103 | 1,718 | 2,103 | 1,718 | |||||||||
Goodwill and Other Intangible Assets | ||||||||||||
The Company allocates the cost of acquired companies to the identifiable tangible and intangible assets acquired and liabilities assumed, with the remaining amount classified as goodwill. Since the entities the Company has acquired do not have significant tangible assets, a significant portion of the purchase price has been allocated to intangible assets and goodwill. The identification and valuation of these intangible assets and the determination of the estimated useful lives at the time of acquisition, as well as the completion of impairment tests require significant management judgments and estimates. These estimates are made based on, among other factors, consultations with an accredited independent valuation consultant, reviews of projected future operating results and business plans, economic projections, anticipated highest and best use of future cash flows and the market participant cost of capital. The use of alternative estimates and assumptions could increase or decrease the estimated fair value of goodwill and other intangible assets, and potentially result in a different impact to the Company's results of operations. Further, changes in business strategy and/or market conditions may significantly impact these judgments thereby impacting the fair value of these assets, which could result in an impairment of the goodwill. See Note 5, Goodwill and Other Intangible Assets, for further information. | ||||||||||||
The Company tests goodwill and indefinite lived intangible assets for impairment at least annually (as of December 31) and whenever events or circumstances change that indicate impairment may have occurred. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in expected future cash flows; a sustained, significant decline in stock price and market capitalization; a significant adverse change in legal factors or in the business climate of the pharmaceutical industry; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of goodwill and our consolidated financial results. At September 30, 2014, no indicators of impairment were identified. | ||||||||||||
Long-Lived Assets, including Finite-Lived Intangible Assets | ||||||||||||
The Company reviews the recoverability of long-lived assets and finite-lived intangible assets whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recognized by reducing the recorded value of the asset to its fair value measured by future discounted cash flows. This analysis requires estimates of the amount and timing of projected cash flows and, where applicable, judgments associated with, among other factors, the appropriate discount rate. Such estimates are critical in determining whether any impairment charge should be recorded and the amount of such charge if an impairment loss is deemed to be necessary. At September 30, 2014, no indicators of impairment were identified. | ||||||||||||
Accounting Standards Updates | ||||||||||||
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09 (ASU 2014-09), “Revenue from Contracts with Customers,” which provides guidance for revenue recognition. ASU 2014-09's core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. | ||||||||||||
The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients; or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). Early application is not permitted. The Company is currently evaluating the impact of adopting ASU 2014-09 on its consolidated financial statements and has not yet determined the method by which it will adopt the standard. | ||||||||||||
In April 2014, the FASB issued ASU 2014-08 “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” ASU 2014-08 provides new guidance related to the definition of a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The new guidance is effective on a prospective basis for fiscal years beginning after December 15, 2014, and interim periods within annual periods beginning on or after December 15, 2015. The Company is currently assessing the future impact of ASU 2014-08 on its consolidated financial statements. |
Acquisition_Notes
Acquisition (Notes) | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Acquisition [Abstract] | ' | |||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | |||
3 | ACQUISITIONS | |||
On August 13, 2014, the Company, through its wholly-owned subsidiary Interpace Diagnostics, LLC (Interpace or IDx), consummated an agreement to acquire certain fully developed thyroid and pancreas cancer diagnostic tests, other tests in development for thyroid cancer, associated intellectual property and a biobank with more than 5,000 patient tissue samples (collectively the Acquired Property) from Asuragen, Inc. (Asuragen) pursuant to an asset purchase agreement (the Agreement). The Company paid $8.0 million at closing and will be obligated to pay an additional $0.5 million to Asuragen upon the successful completion by Asuragen of certain integral transition service obligations set forth in a transition services agreement, entered into concurrently with the Agreement. The Company also entered into two license agreements with Asuragen relating to the Company’s ability to sell the fully developed thyroid and pancreas cancer diagnostic tests and other tests in development for thyroid cancer. In addition, the Company will be obligated to make a milestone payment of $0.5 million to Asuragen upon the earlier of the launch of a pancreas product or February 13, 2016, and to pay royalties of 5.0% on the future net sales of the pancreas diagnostics product line for a period of ten years following a qualifying sale, 3.5% on the future net sales of the thyroid diagnostics product line through August 13, 2024 and 1.5% on the future net sales of certain other thyroid diagnostics products for a period of ten years following a qualifying sale, collectively the contingent consideration. | ||||
The acquisition has been accounted for as a business combination, subject to the provisions of Accounting Standards Codification 805-10-50 (ASC 805-10-50), and been treated as an asset acquisition for tax purposes. In connection with the transaction, the Company has preliminarily recorded $13.0 million of finite lived intangible assets having a weighted-average amortization period of 7.9 years. See Note 5, Goodwill and Other Intangible Assets, for additional information. | ||||
The Company determined a preliminary acquisition date fair value of the contingent consideration (inclusive of the aforementioned milestone payment and royalties on future net sales) of $4.5 million. The royalty portion of the contingent consideration is based on a probability-weighted income approach derived from estimated future revenues. The fair value measurement is based on significant subjective assumptions and inputs not observable in the market and thus represents a Level 3 fair value measurement. Future revisions to these assumptions could materially change the estimate of the fair value of the contingent consideration and therefore materially affect the Company’s future financial results. See Note 7, Fair Value Measurements, for further information. There was no change in the fair value of the contingent consideration during the quarter ended September 30, 2014. Going forward, the Company will estimate the change in the fair value of the contingent consideration as of each reporting period and recognize the change in fair value in the statement of comprehensive income (loss). The reconciliation of consideration given for the Acquired Property to the preliminary allocation of the purchase price for the assets and liabilities acquired based on their relative fair values is as follows: | ||||
Cash | $ | 8,000 | ||
Transition services obligation | 500 | |||
Contingent consideration | 4,476 | |||
Total consideration | $ | 12,976 | ||
Acquired intangible assets | $ | 12,976 | ||
The preliminary allocation of the purchase price was based upon a valuation for which the estimates and assumptions are subject to change within the measurement period (up to one year from the acquisition date). The final allocation price could differ materially from the preliminary allocation. Any subsequent changes to the purchase price allocation that result in material changes to the Company’s consolidated financial results will be adjusted accordingly. | ||||
The unaudited pro forma consolidated statements of operations reflecting the Company’s acquisition of the Acquired Property for the year ended three and nine months ended September 30, 2014 and 2013 are not provided as that presentation would require forward-looking information in order to meaningfully present the effects of the acquisition. | ||||
On August 21, 2014, the Company, through its wholly-owned Interpace subsidiary, acquired 100% of the outstanding stock of JS Genetics, Inc. (JS Genetics), a CLIA certified and CAP accredited molecular diagnostics lab located in New Haven, Connecticut. The Company paid $0.5 million at closing and assumed liabilities of approximately $0.1 million. The acquisition has initially been accounted for as an asset acquisition, subject to the provisions of Accounting Standards Codification 805-50-25 and been treated as such for tax purposes. In connection with the transaction, the Company has preliminarily recorded $0.6 million of finite lived intangible assets having an amortization period of approximately 2.3 years. See Note 5, Goodwill and Other Intangible Assets, for additional information. |
Investments_in_Marketable_Secu
Investments in Marketable Securities | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Marketable Securities [Abstract] | ' | |||||||||||||||||||||||
Investments in Marketable Securities [Text Block] | ' | |||||||||||||||||||||||
INVESTMENTS IN MARKETABLE SECURITIES | ||||||||||||||||||||||||
Available-for-sale securities are carried at fair value with the unrealized holding gains or losses, net of tax, included as a component of accumulated other comprehensive income (loss) in stockholders’ equity. Realized gains and losses on available-for-sale securities are computed based upon specific identification and included in other income (expense), net in the consolidated statement of operations. Declines in value judged to be other-than-temporary on available-for-sale securities are recorded in other income (expense), net in the consolidated statement of operations and the cost basis of the security is reduced. The fair values for marketable equity securities are based on quoted market prices. Held-to-maturity investments are stated at amortized cost which approximates fair value. Interest income is accrued as earned. Realized gains and losses on held-to-maturity investments are computed based upon specific identification and included in other income (expense), net in the condensed consolidated statement of comprehensive loss. The Company does not have any investments classified as trading. | ||||||||||||||||||||||||
Available-for-sale securities consist of assets in a rabbi trust associated with the Company’s deferred compensation plan. The carrying value of available-for-sale securities at September 30, 2014 and December 31, 2013, was approximately $105,000 and $103,000, respectively, and is included in short-term investments. Available-for-sale securities as of both September 30, 2014 and December 31, 2013 consisted of approximately $57,000 and $55,000 in mutual funds, respectively, and approximately $48,000 in money market accounts. | ||||||||||||||||||||||||
The Company’s other marketable securities consist of investment grade debt instruments such as obligations of U.S. Treasury and U.S. Federal Government agencies. These investments are categorized as held-to-maturity since the Company’s management has the ability and intent to hold these securities to maturity. The Company’s held-to-maturity investments are carried at amortized cost which approximates fair value and are maintained in separate accounts to support the Company’s letters of credit. The Company had standby letters of credit of approximately $1.6 million and $2.0 million as of September 30, 2014 and December 31, 2013, respectively, as collateral for its existing insurance policies and facility leases. | ||||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, held-to-maturity investments included the following: | ||||||||||||||||||||||||
Maturing | Maturing | |||||||||||||||||||||||
September 30, | within | after 1 year | December 31, | within | after 1 year | |||||||||||||||||||
2014 | 1 year | through | 2013 | 1 year | through | |||||||||||||||||||
3 years | 3 years | |||||||||||||||||||||||
Cash/money accounts | $ | 43 | $ | 43 | $ | — | $ | 116 | $ | 116 | $ | — | ||||||||||||
U.S. Treasury securities | 1,304 | 520 | 784 | 1,730 | 1,360 | 370 | ||||||||||||||||||
Government agency securities | 241 | 95 | 146 | 382 | 382 | — | ||||||||||||||||||
Total | $ | 1,588 | $ | 658 | $ | 930 | $ | 2,228 | $ | 1,858 | $ | 370 | ||||||||||||
At September 30, 2014 and December 31, 2013, held-to-maturity investments were recorded in the following accounts: | ||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Other current assets | $ | 658 | $ | 1,858 | ||||||||||||||||||||
Other long-term assets | 930 | 370 | ||||||||||||||||||||||
Total | $ | 1,588 | $ | 2,228 | ||||||||||||||||||||
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Goodwill and Other Intangible Assets [Text Block] | ' | |||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | ||||||||||||
Goodwill recorded as of September 30, 2014 is attributable to the 2010 acquisition of Group DCA. As of September 30, 2014 and December 31, 2013, the carrying amount of goodwill for Group DCA was approximately $2.5 million. | ||||||||||||
The net carrying value of the identifiable intangible assets as of September 30, 2014 is as follows: | ||||||||||||
As of September 30, 2014 | ||||||||||||
Life | Carrying | Accumulated | ||||||||||
(Years) | Amount | Amortization | Net | |||||||||
Diagnostic assets: | ||||||||||||
Thyroid | 9 | $ | 8,519 | $ | — | $ | 8,519 | |||||
Pancreas | 7 | 2,882 | 52 | 2,830 | ||||||||
Biobank | 4 | 1,575 | 49 | 1,526 | ||||||||
Total | $ | 12,976 | $ | 101 | $ | 12,875 | ||||||
Diagnostics lab: | ||||||||||||
CLIA Lab | 2.3 | $ | 609 | $ | 25 | $ | 584 | |||||
Amortization expense was $0.1 million for both the three and nine-month periods ended September 30, 2014. Amortization of the thyroid diagnostic asset will begin upon launch of the product. Estimated amortization expense for the current year and next four years is as follows: | ||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | ||||||||
378 | 1,914 | 1,997 | 1,752 | 1,604 | ||||||||
Facilities_Realignment
Facilities Realignment | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
FACILITIES REALIGNMENT [Abstract] | ' | |||||||||||||||
Facilities Realignment [Text Block] | ' | |||||||||||||||
FACILITIES REALIGNMENT | ||||||||||||||||
The following table presents a rollforward of the Company’s restructuring reserve from December 31, 2013 to September 30, 2014, of which approximately $0.7 million is included in other accrued expenses and $0.3 million is included in long-term liabilities as of September 30, 2014. The Company recognizes accretion expense in Other expense, net in the Condensed Consolidated Statement of Comprehensive (Loss) Income. | ||||||||||||||||
Sales | Marketing | Discontinued Operations | Total | |||||||||||||
Services | Services | |||||||||||||||
Balance as of December 31, 2013 | $ | 1,125 | $ | 458 | $ | 379 | $ | 1,962 | ||||||||
Accretion | 83 | — | 23 | 106 | ||||||||||||
Adjustments | — | (16 | ) | — | (16 | ) | ||||||||||
Payments | (506 | ) | (442 | ) | (154 | ) | (1,102 | ) | ||||||||
Balance as of September 30, 2014 | $ | 702 | $ | — | $ | 248 | $ | 950 | ||||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements [Text Block] | ' | |||||||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||||||
The Company's financial assets and liabilities reflected at fair value in the consolidated financial statements include: cash and cash equivalents; short-term investments; accounts receivable; other current assets; and accounts payable. Fair value is 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. In determining fair value, the Company uses various methods including market, income and cost approaches. Based on these approaches, the Company often utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and/or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market-corroborated, or generally unobservable inputs. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based upon observable inputs used in the valuation techniques, the Company is required to provide information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values into three broad levels as follows: | ||||||||||||||||||||
Level 1: | Valuations for assets and liabilities traded in active markets from readily available pricing sources for market transactions involving identical assets or liabilities. | |||||||||||||||||||
Level 2: | Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third-party pricing services for identical or similar assets or liabilities. | |||||||||||||||||||
Level 3: | Valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. | |||||||||||||||||||
In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The valuation methodologies used for the Company's financial instruments measured on a recurring basis at fair value, including the general classification of such instruments pursuant to the valuation hierarchy, is set forth in the tables below. | ||||||||||||||||||||
As of September 30, 2014 | Fair Value Measurements | |||||||||||||||||||
Carrying | Fair | As of September 30, 2014 | ||||||||||||||||||
Amount | Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Assets: | ||||||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Cash | $ | 9,191 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Money Market Funds | 17,814 | 17,814 | 17,814 | — | — | |||||||||||||||
Total | $ | 27,005 | $ | 17,814 | $ | 17,814 | $ | — | $ | — | ||||||||||
Marketable securities: | ||||||||||||||||||||
Money Market Funds | $ | 48 | $ | 48 | $ | 48 | $ | — | $ | — | ||||||||||
Mutual Funds | 57 | 57 | 57 | — | — | |||||||||||||||
U.S. Treasury securities | 1,304 | 1,304 | 1,304 | — | — | |||||||||||||||
Government agency securities | 241 | 241 | 241 | — | — | |||||||||||||||
Total | $ | 1,650 | $ | 1,650 | $ | 1,650 | $ | — | $ | — | ||||||||||
The fair value of cash and cash equivalents and marketable securities is valued using market prices in active markets (level 1). As of September 30, 2014, the Company did not have any marketable securities in less active markets (level 2). In connection with the acquisition of the Acquired Property from Asuragen, the Company recorded $4.5 million of contingent consideration. The Company determined the fair value of the contingent consideration based on a probability-weighted income approach derived from revenue estimates. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement. There was no change in the fair value of the contingent consideration during the period ended September 30, 2014. | ||||||||||||||||||||
The Company considers carrying amounts of accounts receivable, accounts payable and accrued expenses to approximate fair value due to the short-term nature of these financial instruments. There is no fair value ascribed to the letters of credit as management does not expect any material losses to result from these instruments because performance is not expected to be required. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies [Text Block] | ' |
COMMITMENTS AND CONTINGENCIES | |
Letters of Credit | |
As of September 30, 2014, the Company had outstanding letters of credit of $1.6 million as required by its existing insurance policies and facility leases. These letters of credit are supported by investments in held-to-maturity securities. See Note 3, Investments in Marketable Securities, for additional detail regarding investments in marketable securities. | |
Litigation | |
Due to the nature of the businesses in which the Company is engaged, such as product detailing and in the past, the distribution of products, it is subject to certain risks. Such risks include, among others, risk of liability for personal injury or death to persons using products the Company promotes or distributes. There can be no assurance that substantial claims or liabilities will not arise in the future due to the nature of the Company’s business activities and recent increases in litigation related to healthcare products, including pharmaceuticals. The Company seeks to reduce its potential liability under its service agreements through measures such as contractual indemnification provisions with customers (the scope of which may vary from customer to customer, and the performance of which is not secured) and insurance. The Company could, however, also be held liable for errors and omissions of its employees in connection with the services it performs that are outside the scope of any indemnity or insurance policy. The Company could be materially adversely affected if it were required to pay damages or incur defense costs in connection with a claim that is outside the scope of an indemnification agreement; if the indemnity, although applicable, is not performed in accordance with its terms; or if the Company’s liability exceeds the amount of applicable insurance or indemnity. | |
The Company routinely assesses its litigation and threatened litigation as to the probability of ultimately incurring a liability, and records its best estimate of the ultimate loss in situations where the Company assesses the likelihood of loss as probable. The Company accrues for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. In addition, in the event the Company determines that a loss is not probable, but is reasonably possible, and it becomes possible to develop what the Company believes to be a reasonable range of possible loss, then the Company will include disclosures related to such matter as appropriate and in compliance with ASC 450. To the extent there is a reasonable possibility that the losses could exceed the amounts already accrued, the Company will, as applicable, adjust the accrual in the period the determination is made, disclose an estimate of the additional loss or range of loss, indicate that the estimate is immaterial with respect to its financial statements as a whole or, if the amount of such adjustment cannot be reasonably estimated, disclose that an estimate cannot be made. As of September 30, 2014, the Company's accrual for litigation and threatened litigation was not material to the consolidated financial statements. |
Accrued_Expenses_and_LongTerm_
Accrued Expenses and Long-Term Liabilities | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Long-Term Liabilities [Text Block] | ' | |||||||
ACCRUED EXPENSES AND LONG-TERM LIABILITIES | ||||||||
Other accrued expenses consisted of the following as of September 30, 2014 and December 31, 2013: | ||||||||
September 30, 2014 | 31-Dec-13 | |||||||
Accrued pass-through costs | $ | 1,453 | $ | 2,089 | ||||
Facilities realignment accrual | 661 | 997 | ||||||
Self insurance accruals | 376 | 1,020 | ||||||
Transition services milestone | 500 | — | ||||||
Contingent consideration | 577 | — | ||||||
Acquisition related costs | 724 | — | ||||||
Indemnification liability | 875 | 875 | ||||||
Rent payable | 563 | 563 | ||||||
All others | 5,663 | 4,484 | ||||||
$ | 11,392 | $ | 10,028 | |||||
Long-term liabilities consisted of the following as of September 30, 2014 and December 31, 2013: | ||||||||
September 30, 2014 | 31-Dec-13 | |||||||
Rent payable | $ | 580 | $ | 969 | ||||
Uncertain tax positions | 3,226 | 3,109 | ||||||
Facilities realignment accrual | 289 | 965 | ||||||
Contingent consideration | 3,899 | — | ||||||
Other | 142 | 142 | ||||||
$ | 8,136 | $ | 5,185 | |||||
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||
Stock-Based Compensation [Text Block] | ' | ||||
STOCK-BASED COMPENSATION | |||||
In February 2014, under the terms of the stockholder-approved PDI, Inc. 2004 Stock Award Incentive Plan (the 2004 Plan), the Compensation and Management Development Committee of the Board (the Compensation Committee) approved grants of restricted stock to certain executive officers and members of senior management of the Company. The full Board approved the portion of these grants made to the Company’s Chief Executive Officer. As part of the Company's 2013 long-term incentive plan, these grants aggregated 173,990 shares of restricted stock issued with a weighted average grant date fair value of $5.12 per share and 489,846 SARs with a weighted average grant date fair value of $1.82. | |||||
The grant date fair values of SARs awards are determined using a Black-Scholes pricing model. Assumptions utilized in the model are evaluated and revised, as necessary, to reflect market conditions and experience. The following table provides the weighted average assumptions used in determining the fair value of the non-market based SARs awards granted during the nine-month periods ended September 30, 2014 and September 30, 2013: | |||||
Nine Months Ended | Nine Months Ended | ||||
September 30, 2014 | 30-Sep-13 | ||||
Risk-free interest rate | 0.71% | 0.33% | |||
Expected life | 3.5 years | 3.5 years | |||
Expected volatility | 47.94% | 49.80% | |||
Dividend yield | —% | —% | |||
In February 2014, the Company’s chief executive officer was granted 188,165 market contingent SARs. The market contingent SARs have an exercise price of $5.10, a five year term to expiration, and a weighted-average fair value of $1.87. The fair value estimate of the market contingent SARs was calculated using a Monte Carlo Simulation model. The market contingent SARs are subject to a time-based vesting schedule, but will not vest unless and until certain additional, market-based conditions are satisfied: (1) with respect to the initial 36,496 market contingent SARs, which vest on a time-based schedule on the first anniversary of the date of grant, the closing price of the Company’s common stock is at least $7.65 per share for the average of 60 consecutive trading days anytime within five years from the grant date; (2) with respect to the next 64,460 market contingent SARs, which vest on a time-based schedule on the second anniversary of the date of grant, the closing price of the Company’s common stock is at least $10.20 per share for the average of 60 consecutive trading days anytime within five years from the grant date; and (3) with respect to the final 87,209 market contingent SARs, which vest on a time-based schedule on the third anniversary of the date of grant, the closing price of the Company’s common stock is at least $15.30 per share for the average of 60 consecutive trading days anytime within five years from the grant date. These stock prices represent premiums in excess of at least 50% of the closing stock price of the Company’s common stock on the date of grant. | |||||
The Company recognized $0.4 million of stock-based compensation expense during each of the three-month periods ended September 30, 2014 and 2013, and $1.8 million and $1.5 million for the nine-month periods ended September 30, 2014 and 2013, respectively. |
Income_Taxes
Income Taxes | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Income Taxes [Text Block] | ' | |||||||||||||||
INCOME TAXES | ||||||||||||||||
Generally, accounting standards require companies to provide for income taxes each quarter based on their estimate of the effective tax rate for the full year. The authoritative guidance for accounting for income taxes allows use of the discrete method when it provides a better estimate of income tax expense. Due to the Company's valuation allowance position, it is the Company's position that the discrete method provides a more accurate estimate of income tax expense and therefore income tax expense for the current quarter has been presented using the discrete method. As the year progresses, the Company refines its estimate based on the facts and circumstances by each tax jurisdiction. The following table summarizes income tax expense on (loss) income from continuing operations and the effective tax rate for the three- and nine-month periods ended September 30, 2014 and 2013: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Provision for income tax | $ | 64 | $ | 64 | $ | 194 | $ | 192 | ||||||||
Effective income tax rate | (1.5 | )% | (3.1 | )% | (2.3 | )% | 9.3 | % | ||||||||
Income tax expense for each of the three- and nine-month periods ended September 30, 2014 and 2013 was primarily due to state and local taxes as the Company and its subsidiaries file separate income tax returns in numerous state and local jurisdictions. |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Information [Text Block] | ' | |||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||
The accounting policies of the segments are described in Note 1 of the Company’s audited consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2013. Corporate charges are allocated to each of the reporting segments on the basis of total salary expense. Corporate charges include corporate headquarters costs and certain depreciation expenses. Certain corporate capital expenditures have not been allocated from the Sales Services segment to the other reporting segments since it is impracticable to do so. | ||||||||||||||||
Sales | Marketing | Product Commercialization Services | Consolidated | |||||||||||||
Services | Services | |||||||||||||||
Three months ended September 30, 2014: | ||||||||||||||||
Revenue | $ | 28,186 | $ | 1,006 | $ | 53 | $ | 29,245 | ||||||||
Operating loss | $ | (746 | ) | $ | (1,283 | ) | $ | (2,194 | ) | $ | (4,223 | ) | ||||
Capital expenditures | $ | 350 | $ | 1 | $ | 87 | $ | 438 | ||||||||
Depreciation expense | $ | 240 | $ | 117 | $ | 8 | $ | 365 | ||||||||
Three months ended September 30, 2013: | ||||||||||||||||
Revenue | $ | 30,748 | $ | 781 | $ | 2,731 | $ | 34,260 | ||||||||
Operating (loss) income | $ | (1,316 | ) | $ | (1,177 | ) | $ | 441 | $ | (2,052 | ) | |||||
Capital expenditures | $ | 290 | $ | 402 | $ | — | $ | 692 | ||||||||
Depreciation expense | $ | 296 | $ | 46 | $ | 3 | $ | 345 | ||||||||
Nine months ended September 30, 2014: | ||||||||||||||||
Revenue | $ | 85,048 | $ | 2,623 | $ | 5,930 | $ | 93,601 | ||||||||
Operating loss | $ | (1,205 | ) | $ | (4,290 | ) | $ | (2,748 | ) | $ | (8,243 | ) | ||||
Capital expenditures | $ | 1,203 | $ | 8 | $ | 87 | $ | 1,298 | ||||||||
Depreciation expense | $ | 697 | $ | 466 | $ | 39 | $ | 1,202 | ||||||||
Nine months ended September 30, 2013: | ||||||||||||||||
Revenue | $ | 101,267 | $ | 3,966 | $ | 9,195 | $ | 114,428 | ||||||||
Operating income (loss) | $ | 31 | $ | (2,378 | ) | $ | 1,701 | $ | (646 | ) | ||||||
Capital expenditures | $ | 545 | $ | 1,103 | $ | — | $ | 1,648 | ||||||||
Depreciation expense | $ | 746 | $ | 145 | $ | 31 | $ | 922 | ||||||||
Discontinued_Operations
Discontinued Operations | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||||||
Discontinued Operations [Text Block] | ' | |||||||||||||||
DISCONTINUED OPERATIONS | ||||||||||||||||
On December 29, 2011 the Company entered into an agreement to sell certain assets of our Pharmakon business unit. On July 19, 2010, the Board approved closing the TVG business unit and the Company notified employees and issued a press release to that effect on July 20, 2010. The Consolidated Statements of Comprehensive Loss reflect the presentation of Pharmakon and TVG as discontinued operations in all periods presented. | ||||||||||||||||
The table below presents the significant components of Pharmakon's and TVG’s results included in Loss from discontinued operations, net of tax in the Condensed Consolidated Statements of Comprehensive Loss for the three- and nine-month periods ended September 30, 2014 and 2013. | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Revenue, net | $ | — | $ | — | $ | — | $ | — | ||||||||
Loss from discontinued operations, before income tax | (28 | ) | (27 | ) | (114 | ) | (27 | ) | ||||||||
Provision for income tax | 1 | 1 | 4 | 4 | ||||||||||||
Loss from discontinued operations, net of tax | $ | (29 | ) | $ | (28 | ) | $ | (118 | ) | $ | (31 | ) | ||||
The major classes of assets and liabilities included in the Condensed Consolidated Balance Sheets for Pharmakon and TVG as of September 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Current assets | $ | — | $ | — | ||||||||||||
Non-current assets | 150 | 150 | ||||||||||||||
Total assets | $ | 150 | $ | 150 | ||||||||||||
Current liabilities | $ | 365 | $ | 405 | ||||||||||||
Non-current liabilities | 399 | 619 | ||||||||||||||
Total liabilities | $ | 764 | $ | 1,024 | ||||||||||||
Investment_in_NonControlled_En
Investment in Non-Controlled Entity and Other Arrangements (Notes) | 9 Months Ended |
Sep. 30, 2014 | |
Investment and Loan With Non-Controllable Entity [Abstract] | ' |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' |
INVESTMENT IN NON-CONTROLLED ENTITY AND OTHER ARRANGEMENTS | |
In August 2013, PDI entered into phase one of a collaboration agreement with a privately held, emerging molecular diagnostics company (the Diagnostics Company) to commercialize its fully-developed, molecular diagnostic tests. The Diagnostics Company does not have experience in, or a history of, successfully commercializing diagnostic products. Under the terms of phase one of the collaboration agreement, PDI paid an initial fee of $1.5 million and had the ability to enter the second phase of the collaboration agreement in the form of a call option to purchase the outstanding common stock of the Diagnostics Company. PDI has recorded the initial fee as an investment in a non-controlled entity within Other current assets in the Consolidated Balance Sheets in accordance with ASC 325-20 Investments Other - Cost Method Investments. The Company also has the option to contribute an additional $0.5 million for mutually agreed upon activities in furtherance of collaboration efforts. | |
In August 2014, PDI entered into an amendment to the collaboration agreement reducing the option price to a maximum amount of $3.0 million plus any amounts outstanding under the loan to the Diagnostics Company. If PDI purchases the outstanding common stock of the Diagnostics Company, in addition to the option price, beginning in 2015, PDI would pay a royalty of 5.5% on annual net revenue up to $50.0 million with escalating royalty percentages for higher annual net revenue capped at 7.5% for annual net revenue in excess of $100.0 million. PDI can terminate the amended collaboration agreement if all milestones are not achieved by March 31, 2015 and receive a $1.0 million termination fee. If all milestones are achieved by March 31, 2015 and PDI has not exercised its option, the Diagnostics Company can terminate the collaboration agreement and pay PDI a termination fee of approximately $1.5 million. The amended collaboration agreement provides PDI the right to extend the effective date of termination until to September 30, 2015 by making a payment of $0.5 million (the Extension Fee) to the Diagnostics Company before the expiration of the termination notice period. If the Extension Fee is paid, and the Company thereafter purchases the outstanding stock of the Diagnostics Company, then the option price due at closing will be reduced by the amount of the Extension Fee. The amendment to collaboration agreement eliminated the Diagnostics Company's ability to require PDI to exercise the option to purchase the outstanding common stock of the Diagnostics Company. | |
Through June 30, 2014, PDI loaned the Diagnostics Company approximately $0.7 million bearing a 4% interest rate. In connection with the amendment to the collaboration agreement during the three month period ended September 30, 2014, the loan balance was reduced to $0.6 million. This loan is secured by the stock of Diagnostics Company and is payable to PDI at the sooner of: March 31, 2015; the expiration or termination of the collaboration agreement between the parties; the acquisition of the Diagnostics Company by PDI; or default by the Diagnostics Company. PDI recorded the loan receivable within Other current assets in the Condensed Consolidated Balance Sheets. | |
Other Arrangements | |
In October 2013, the Company entered into phase one of a collaboration agreement to commercialize CardioPredict™, a molecular diagnostic test developed by Transgenomic, in the United States. Under the terms of the collaboration agreement, PDI was responsible for all U.S.-based marketing and promotion of CardioPredict™, while Transgenomic would be responsible for processing CardioPredict™ in its state-of-the-art CLIA lab and all customer support. Both parties were responsible for their respective expenses. Subsequently, the Company has determined that it would not enter into the second phase of the collaboration agreement with Transgenomic and notified Transgenomic of its decision to terminate the collaboration agreement effective June 30, 2014. | |
PDI's costs related to both of these agreements are expensed in the Company's PC Services segment and reflected in Cost of services or Selling, general and administrative expenses in the Consolidated Statement of Comprehensive Loss, depending upon the underlying nature of the expenses incurred. |
Subsequent_Event_Notes
Subsequent Event (Notes) | 9 Months Ended | |
Sep. 30, 2014 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Events [Text Block] | ' | |
15 | SUBSEQUENT EVENT | |
On October 31, 2014, the Company and its wholly-owned subsidiary, Interpace, entered into an Agreement and Plan of Merger (the Agreement) to acquire RedPath Integrated Pathology, Inc. (RedPath), a molecular diagnostics company helping physicians better manage patients at risk for certain types of gastrointestinal cancers through its proprietary PathFinderTG® platform (the Transaction), and related documents (collectively, the Transaction Documents). This Transaction establishes Interpace in the upper gastroenterology cancer diagnostic market and provides the Company a growth platform in the diagnostic oncology space, particularly in endocrine and gastrointestinal cancer. | ||
In addition to the Agreement, the Transaction Documents, dated October 31, 2014, include the following: | ||
• | a Non-negotiable Subordinated Secured Promissory Note (the Note), dated October 31, 2014, by the Company in favor of RedPath Equityholder Representative, LLC (the Equityholder Representative); | |
• | a Contingent Consideration Agreement with the Equityholder Representative (the Contingent Consideration Agreement); | |
• | a Credit Agreement among the Company and the financial institutions party thereto from time to time as lenders (the Lenders) and SWK Funding LLC, as agent for the Lenders (the Agent); | |
• | a Guarantee and Collateral Agreement by PDI, Inc. and certain of its subsidiaries, in favor of SWK Funding LLC (the Senior Guarantee); | |
• | a Guarantee and Collateral Agreement (the Subordinated Guarantee) by the Company and certain of its subsidiaries in favor of the Equityholder Representative; and | |
• | a Subordination and Intercreditor Agreement (the Intercreditor Agreement) by and among the Company, the Equityholder Representative and the Agent. | |
The Agreement, the Note, the Subordinated Guarantee and the Contingent Consideration Agreement | ||
Under the terms of the Agreement, the Company paid $12.0 million in cash to the Equityholder Representative, on behalf of the equityholders of RedPath (the Equityholders), at the closing of the Transaction. The Agreement contains customary representations, warranties and covenants of the Company and RedPath. Subject to certain limitations, the parties will be required to indemnify each other for damages resulting from breaches of the representations, warranties and covenants made in the Agreement and certain other matters. | ||
The Company also issued an interest-free Note to the Equityholder Representative, on behalf of the Equityholders, at the closing of the Transaction for $11.0 million to be paid in eight equal consecutive quarterly installments beginning October 1, 2016. The interest rate will be 5.0% in the event of a default under the Note. The obligations of the Company under the Note are guaranteed by the Company and its Subsidiaries pursuant to the Subordinated Guarantee in favor of the Equityholder Representative. Pursuant to the Subordinated Guarantee, the Company and its Subsidiaries also granted a security interest in substantially all of their assets, including intellectual property, to secure their obligations to the Equityholder Representative. | ||
In connection with the Transaction, the Company and Interpace also entered into the Contingent Consideration Agreement with the Equityholder Representative. Pursuant to the Contingent Consideration Agreement, the Company has agreed to issue to the Equityholders 500,000 shares of the Company’s common stock, par value $0.01 (Common Stock), upon acceptance for publication of a specified article related to PathFinderTG® for the management of Barrett’s esophagus, and an additional 500,000 shares of the Company’s Common Stock upon the commercial launch of PathFinderTG® for the management of Barrett’s esophagus (collectively, the Common Stock Milestones). In the event of a change of control of the Company, Interpace or RedPath on or before April 30, 2016, the Common Stock Milestones not then already achieved will be accelerated and the Equityholders will be immediately entitled to receive the Common Stock not yet previously issued to them. The Equityholders are entitled to an additional $5 million cash payment upon the achievement by the Company of $14.0 million or more in annual net sales of PathFinderTG® for the management of Barrett’s esophagus and a further $5 million cash payment upon the achievement by the Company of $37.0 million or more in annual net sales of a basket of assays of Interpace and RedPath. In addition, the Company is obligated to pay revenue based payments through 2025 of 6.5% on annual net sales above $12.0 million of PathFinderTG®-Pancreas, 10% on annual net sales up to $30 million of PathFinderTG® for the management of Barrett’s esophagus and 20% on annual net sales above $30 million of PathFinderTG® for the management of Barrett’s esophagus. | ||
The Credit Agreement, the Senior Guarantee and the Intercreditor Agreement | ||
In connection with the Transaction, the Company entered into the Credit Agreement with the Agent and the Lenders. Pursuant to and subject to the terms of the Credit Agreement, the Lenders agreed to provide a term loan to the Company in the aggregate principal amount of $20.0 million (the Loan). The maturity date of the loan is October 31, 2020. The Loan bears interest at the greater of (a) three month LIBOR and (b) 1.0%, plus a margin of 12.5%, payable in cash quarterly in arrears, beginning on February 17, 2015. The interest rate will be increased by 3.0% in the event of a default under the Credit Agreement. Beginning in January 2017, the Company will be required to make principal payments on the Loan. Beginning in January 2017 and ending on October 31, 2020, subject to a $250,000 per quarter cap, the Lenders will be entitled to receive quarterly revenue based payments from the Company equal to 1.25x of revenue derived from net sales of molecular diagnostics products (the Synthetic Royalty). | ||
The Company agreed to pay certain out-of-pocket costs and expenses incurred by the Lenders and the Agent in connection with the Credit Agreement and related documents, the administration of the Loan and related documents or the enforcement or protection of the Lenders’ rights. The Lenders are also entitled to (a) a $0.3 million origination fee and (b) a $0.8 million exit fee. In addition, if the Loan is prepaid, the Lenders are entitled to (c) a prepayment fee equal to 6.0% of the Loan if the Loan is prepaid on or after October 31, 2015 but prior to October 31, 2016, 5.0% of the Loan if the Loan is prepaid on or after October 31, 2016 but prior to October 31, 2017 and 2.0% if the Loan is prepaid on or after October 31, 2017 but prior to October 31, 2018, and (d) a prepayment premium applicable to the Synthetic Royalty equal to (i)(1) 1.25% multiplied by (2) the lesser of (A) $80.0 million and (B) the aggregate revenue on net sales of molecular diagnostics products for the four most recently-completed fiscal quarters, multiplied by (ii) the number of days remaining until October 31, 2020, divided by (iii) 360. The Company must also make a mandatory prepayment in connection with the disposition of certain of the Company’s assets. | ||
Pursuant to the Senior Guarantee, the obligations of the Company under the Credit Agreement are guaranteed by the Company and its Subsidiaries in favor of the Agent for the benefit of the Lenders. The Credit Agreement contains customary representations and warranties in favor of the Agent and the Lenders and certain covenants, including among other things, financial covenants relating to liquidity and revenue targets. | ||
The Company received net proceeds of approximately $19.6 million following payment of certain fees and expenses in connection with the Credit Agreement. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Accounting Estimates [Policy Text Block] | ' |
Accounting Estimates | |
The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities reported and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management's estimates are based on historical experience, facts and circumstances available at the time, and various other assumptions that are believed to be reasonable under the circumstances. Significant estimates include accounting for business combinations, best estimate of selling price in multiple element arrangements, valuation allowances related to deferred income taxes, self-insurance loss accruals, allowances for doubtful accounts and notes, income tax accruals, asset impairments and facilities realignment accruals. The Company periodically reviews these matters and reflects changes in estimates as appropriate. Actual results could materially differ from those estimates. | |
Goodwill and Other Intangible Assets [Policy Text Block] | ' |
Goodwill and Other Intangible Assets | |
The Company allocates the cost of acquired companies to the identifiable tangible and intangible assets acquired and liabilities assumed, with the remaining amount classified as goodwill. Since the entities the Company has acquired do not have significant tangible assets, a significant portion of the purchase price has been allocated to intangible assets and goodwill. The identification and valuation of these intangible assets and the determination of the estimated useful lives at the time of acquisition, as well as the completion of impairment tests require significant management judgments and estimates. These estimates are made based on, among other factors, consultations with an accredited independent valuation consultant, reviews of projected future operating results and business plans, economic projections, anticipated highest and best use of future cash flows and the market participant cost of capital. The use of alternative estimates and assumptions could increase or decrease the estimated fair value of goodwill and other intangible assets, and potentially result in a different impact to the Company's results of operations. Further, changes in business strategy and/or market conditions may significantly impact these judgments thereby impacting the fair value of these assets, which could result in an impairment of the goodwill. See Note 5, Goodwill and Other Intangible Assets, for further information. | |
The Company tests goodwill and indefinite lived intangible assets for impairment at least annually (as of December 31) and whenever events or circumstances change that indicate impairment may have occurred. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in expected future cash flows; a sustained, significant decline in stock price and market capitalization; a significant adverse change in legal factors or in the business climate of the pharmaceutical industry; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of goodwill and our consolidated financial results. At September 30, 2014, no indicators of impairment were identified. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | |||||||||||
A reconciliation of the number of shares of common stock used in the calculation of basic and diluted loss per share for the three- and nine-month periods ended September 30, 2014 and 2013 is as follows: | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 30, | September 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Basic weighted average number of common shares | 14,938 | 14,740 | 14,886 | 14,708 | ||||||||
Dilutive effect of stock-based awards | — | — | — | — | ||||||||
Diluted weighted average number of common shares | 14,938 | 14,740 | 14,886 | 14,708 | ||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | |||||||||||
The following outstanding stock-based awards were excluded from the computation of the effect of dilutive securities on loss per share for the following periods because they would have been anti-dilutive: | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 30, | September 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Options | 25 | 42 | 25 | 42 | ||||||||
Stock-settled stock appreciation rights (SARs) | 1,270 | 796 | 1,270 | 796 | ||||||||
Restricted stock/units | 620 | 600 | 620 | 600 | ||||||||
Market contingent SARs | 188 | 280 | 188 | 280 | ||||||||
2,103 | 1,718 | 2,103 | 1,718 |
Acquisition_Tables
Acquisition (Tables) | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Acquisition [Abstract] | ' | |||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The reconciliation of consideration given for the Acquired Property to the preliminary allocation of the purchase price for the assets and liabilities acquired based on their relative fair values is as follows: | ||||
Cash | $ | 8,000 | ||
Transition services obligation | 500 | |||
Contingent consideration | 4,476 | |||
Total consideration | $ | 12,976 | ||
Acquired intangible assets | $ | 12,976 | ||
Investments_in_Marketable_Secu1
Investments in Marketable Securities (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Marketable Securities [Abstract] | ' | |||||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, held-to-maturity investments included the following: | ||||||||||||||||||||||||
Maturing | Maturing | |||||||||||||||||||||||
September 30, | within | after 1 year | December 31, | within | after 1 year | |||||||||||||||||||
2014 | 1 year | through | 2013 | 1 year | through | |||||||||||||||||||
3 years | 3 years | |||||||||||||||||||||||
Cash/money accounts | $ | 43 | $ | 43 | $ | — | $ | 116 | $ | 116 | $ | — | ||||||||||||
U.S. Treasury securities | 1,304 | 520 | 784 | 1,730 | 1,360 | 370 | ||||||||||||||||||
Government agency securities | 241 | 95 | 146 | 382 | 382 | — | ||||||||||||||||||
Total | $ | 1,588 | $ | 658 | $ | 930 | $ | 2,228 | $ | 1,858 | $ | 370 | ||||||||||||
Held-to-maturity Securities [Table Text Block] | ' | |||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, held-to-maturity investments were recorded in the following accounts: | ||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Other current assets | $ | 658 | $ | 1,858 | ||||||||||||||||||||
Other long-term assets | 930 | 370 | ||||||||||||||||||||||
Total | $ | 1,588 | $ | 2,228 | ||||||||||||||||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ' | |||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | |||||||||||
The net carrying value of the identifiable intangible assets as of September 30, 2014 is as follows: | ||||||||||||
As of September 30, 2014 | ||||||||||||
Life | Carrying | Accumulated | ||||||||||
(Years) | Amount | Amortization | Net | |||||||||
Diagnostic assets: | ||||||||||||
Thyroid | 9 | $ | 8,519 | $ | — | $ | 8,519 | |||||
Pancreas | 7 | 2,882 | 52 | 2,830 | ||||||||
Biobank | 4 | 1,575 | 49 | 1,526 | ||||||||
Total | $ | 12,976 | $ | 101 | $ | 12,875 | ||||||
Diagnostics lab: | ||||||||||||
CLIA Lab | 2.3 | $ | 609 | $ | 25 | $ | 584 | |||||
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets Schedule of Amortization Expense (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | |||||||||
Estimated amortization expense for the current year and next four years is as follows: | ||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | ||||||
378 | 1,914 | 1,997 | 1,752 | 1,604 | ||||||
Facilities_Realignment_Tables
Facilities Realignment (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
FACILITIES REALIGNMENT [Abstract] | ' | |||||||||||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | |||||||||||||||
The following table presents a rollforward of the Company’s restructuring reserve from December 31, 2013 to September 30, 2014, of which approximately $0.7 million is included in other accrued expenses and $0.3 million is included in long-term liabilities as of September 30, 2014. The Company recognizes accretion expense in Other expense, net in the Condensed Consolidated Statement of Comprehensive (Loss) Income. | ||||||||||||||||
Sales | Marketing | Discontinued Operations | Total | |||||||||||||
Services | Services | |||||||||||||||
Balance as of December 31, 2013 | $ | 1,125 | $ | 458 | $ | 379 | $ | 1,962 | ||||||||
Accretion | 83 | — | 23 | 106 | ||||||||||||
Adjustments | — | (16 | ) | — | (16 | ) | ||||||||||
Payments | (506 | ) | (442 | ) | (154 | ) | (1,102 | ) | ||||||||
Balance as of September 30, 2014 | $ | 702 | $ | — | $ | 248 | $ | 950 | ||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||||||||
As of September 30, 2014 | Fair Value Measurements | |||||||||||||||||||
Carrying | Fair | As of September 30, 2014 | ||||||||||||||||||
Amount | Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Assets: | ||||||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Cash | $ | 9,191 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Money Market Funds | 17,814 | 17,814 | 17,814 | — | — | |||||||||||||||
Total | $ | 27,005 | $ | 17,814 | $ | 17,814 | $ | — | $ | — | ||||||||||
Marketable securities: | ||||||||||||||||||||
Money Market Funds | $ | 48 | $ | 48 | $ | 48 | $ | — | $ | — | ||||||||||
Mutual Funds | 57 | 57 | 57 | — | — | |||||||||||||||
U.S. Treasury securities | 1,304 | 1,304 | 1,304 | — | — | |||||||||||||||
Government agency securities | 241 | 241 | 241 | — | — | |||||||||||||||
Total | $ | 1,650 | $ | 1,650 | $ | 1,650 | $ | — | $ | — | ||||||||||
Accrued_Expenses_and_LongTerm_1
Accrued Expenses and Long-Term Liabilities (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||
Other accrued expenses consisted of the following as of September 30, 2014 and December 31, 2013: | ||||||||
September 30, 2014 | 31-Dec-13 | |||||||
Accrued pass-through costs | $ | 1,453 | $ | 2,089 | ||||
Facilities realignment accrual | 661 | 997 | ||||||
Self insurance accruals | 376 | 1,020 | ||||||
Transition services milestone | 500 | — | ||||||
Contingent consideration | 577 | — | ||||||
Acquisition related costs | 724 | — | ||||||
Indemnification liability | 875 | 875 | ||||||
Rent payable | 563 | 563 | ||||||
All others | 5,663 | 4,484 | ||||||
$ | 11,392 | $ | 10,028 | |||||
Long-term Liabilities [Table Text Block] | ' | |||||||
Long-term liabilities consisted of the following as of September 30, 2014 and December 31, 2013: | ||||||||
September 30, 2014 | 31-Dec-13 | |||||||
Rent payable | $ | 580 | $ | 969 | ||||
Uncertain tax positions | 3,226 | 3,109 | ||||||
Facilities realignment accrual | 289 | 965 | ||||||
Contingent consideration | 3,899 | — | ||||||
Other | 142 | 142 | ||||||
$ | 8,136 | $ | 5,185 | |||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||
The following table provides the weighted average assumptions used in determining the fair value of the non-market based SARs awards granted during the nine-month periods ended September 30, 2014 and September 30, 2013: | |||||
Nine Months Ended | Nine Months Ended | ||||
September 30, 2014 | 30-Sep-13 | ||||
Risk-free interest rate | 0.71% | 0.33% | |||
Expected life | 3.5 years | 3.5 years | |||
Expected volatility | 47.94% | 49.80% | |||
Dividend yield | —% | —% |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||||||
The following table summarizes income tax expense on (loss) income from continuing operations and the effective tax rate for the three- and nine-month periods ended September 30, 2014 and 2013: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Provision for income tax | $ | 64 | $ | 64 | $ | 194 | $ | 192 | ||||||||
Effective income tax rate | (1.5 | )% | (3.1 | )% | (2.3 | )% | 9.3 | % |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||
Sales | Marketing | Product Commercialization Services | Consolidated | |||||||||||||
Services | Services | |||||||||||||||
Three months ended September 30, 2014: | ||||||||||||||||
Revenue | $ | 28,186 | $ | 1,006 | $ | 53 | $ | 29,245 | ||||||||
Operating loss | $ | (746 | ) | $ | (1,283 | ) | $ | (2,194 | ) | $ | (4,223 | ) | ||||
Capital expenditures | $ | 350 | $ | 1 | $ | 87 | $ | 438 | ||||||||
Depreciation expense | $ | 240 | $ | 117 | $ | 8 | $ | 365 | ||||||||
Three months ended September 30, 2013: | ||||||||||||||||
Revenue | $ | 30,748 | $ | 781 | $ | 2,731 | $ | 34,260 | ||||||||
Operating (loss) income | $ | (1,316 | ) | $ | (1,177 | ) | $ | 441 | $ | (2,052 | ) | |||||
Capital expenditures | $ | 290 | $ | 402 | $ | — | $ | 692 | ||||||||
Depreciation expense | $ | 296 | $ | 46 | $ | 3 | $ | 345 | ||||||||
Nine months ended September 30, 2014: | ||||||||||||||||
Revenue | $ | 85,048 | $ | 2,623 | $ | 5,930 | $ | 93,601 | ||||||||
Operating loss | $ | (1,205 | ) | $ | (4,290 | ) | $ | (2,748 | ) | $ | (8,243 | ) | ||||
Capital expenditures | $ | 1,203 | $ | 8 | $ | 87 | $ | 1,298 | ||||||||
Depreciation expense | $ | 697 | $ | 466 | $ | 39 | $ | 1,202 | ||||||||
Nine months ended September 30, 2013: | ||||||||||||||||
Revenue | $ | 101,267 | $ | 3,966 | $ | 9,195 | $ | 114,428 | ||||||||
Operating income (loss) | $ | 31 | $ | (2,378 | ) | $ | 1,701 | $ | (646 | ) | ||||||
Capital expenditures | $ | 545 | $ | 1,103 | $ | — | $ | 1,648 | ||||||||
Depreciation expense | $ | 746 | $ | 145 | $ | 31 | $ | 922 | ||||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Revenue, net | $ | — | $ | — | $ | — | $ | — | ||||||||
Loss from discontinued operations, before income tax | (28 | ) | (27 | ) | (114 | ) | (27 | ) | ||||||||
Provision for income tax | 1 | 1 | 4 | 4 | ||||||||||||
Loss from discontinued operations, net of tax | $ | (29 | ) | $ | (28 | ) | $ | (118 | ) | $ | (31 | ) | ||||
September 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Current assets | $ | — | $ | — | ||||||||||||
Non-current assets | 150 | 150 | ||||||||||||||
Total assets | $ | 150 | $ | 150 | ||||||||||||
Current liabilities | $ | 365 | $ | 405 | ||||||||||||
Non-current liabilities | 399 | 619 | ||||||||||||||
Total liabilities | $ | 764 | $ | 1,024 | ||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Shares outstanding) (Details) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Accounting Policies [Abstract] | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding, Basic | 14,938 | 14,740 | 14,886 | 14,708 |
Dilutive effect of stock-based awards | 0 | 0 | 0 | 0 |
Diluted weighted average number of common shares | 14,938 | 14,740 | 14,886 | 14,708 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Anti-dilutive shares) (Details) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding, Basic | 14,938 | 14,740 | 14,886 | 14,708 |
Weighted Average Number Diluted Shares Outstanding Adjustment | 0 | 0 | 0 | 0 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,103 | 1,718 | 2,103 | 1,718 |
Weighted Average Number of Shares Outstanding, Diluted | 14,938 | 14,740 | 14,886 | 14,708 |
Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 25 | 42 | 25 | 42 |
Stock-settled stock appreciation rights (SARs) [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,270 | 796 | 1,270 | 796 |
Restricted stock/units [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 620 | 600 | 620 | 600 |
Performance contingent SARs [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 188 | 280 | 188 | 280 |
Acquisition_Details
Acquisition (Details) (USD $) | 9 Months Ended | |||
Sep. 30, 2014 | Aug. 21, 2014 | Aug. 13, 2014 | Dec. 31, 2013 | |
sample | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Significant Acquisitions and Disposals, Assets Acquired, Samples | ' | ' | 5,000 | ' |
Payments to Acquire Intangible Assets | $8,000,000 | ' | ' | ' |
Other Commitment | 500,000 | ' | ' | ' |
Significant Acquisitions and Disposals, Acquisition Costs or Sale Proceeds | ' | 500,000 | ' | ' |
Payments to Acquire Businesses, Net of Cash Acquired | 8,000,000 | ' | ' | ' |
Other Accrued Liabilities | 500,000 | ' | ' | 0 |
Business Combination, Contingent Consideration, Liability | 4,476,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 12,976,000 | 100,000 | ' | ' |
Finite-Lived Intangible Assets, Gross | 12,976,000 | ' | ' | ' |
Diagnostic Assets [Domain] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '7 years 10 months 24 days | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 12,976,000 | ' | ' | ' |
Diagnostic Lab [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '2 years 3 months | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | $609,000 | ' | ' | ' |
Diagnostic Test - Pancreas [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Royalty Percentage | 5.00% | ' | ' | ' |
Diagnostic Test - Thyroid [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Royalty Percentage | 3.50% | ' | ' | ' |
Diagnostic Test - Other Thyroid [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Royalty Percentage | 1.50% | ' | ' | ' |
Investments_in_Marketable_Secu2
Investments in Marketable Securities (Held to Maturity Securities, by Maturity) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Available-for-sale Securities | $105,000 | $103,000 |
Letters of Credit Outstanding, Amount | 1,600,000 | 2,000,000 |
Held-to-maturity Securities, Current | 658,000 | 1,858,000 |
Held-to-maturity Securities, Noncurrent | 930,000 | 370,000 |
Held-to-maturity Securities, Total | 1,588,000 | 2,228,000 |
Mutual Funds [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Available-for-sale Securities | 57,000 | 55,000 |
Cash/Money Market Accounts [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Available-for-sale Securities | 48,000 | 48,000 |
Held-to-maturity Securities, Current | 43,000 | 116,000 |
Held-to-maturity Securities, Noncurrent | 0 | 0 |
Held-to-maturity Securities, Total | 43,000 | 116,000 |
US Treasury Securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity Securities, Current | 520,000 | 1,360,000 |
Held-to-maturity Securities, Noncurrent | 784,000 | 370,000 |
Held-to-maturity Securities, Total | 1,304,000 | 1,730,000 |
US Government Agencies Securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity Securities, Current | 95,000 | 382,000 |
Held-to-maturity Securities, Noncurrent | 146,000 | 0 |
Held-to-maturity Securities, Total | $241,000 | $382,000 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Goodwill | $2,523,000 | $2,523,000 | $2,523,000 |
Amortization of Intangible Assets | $100,000 | $100,000 | ' |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets Intangible assets (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Gross | $12,976 |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | 378 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 1,914 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 1,997 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 1,752 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 1,604 |
Diagnostic Test - Thyroid [Member] | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Gross | 8,519 |
Finite-Lived Intangible Assets, Accumulated Amortization | 0 |
Other Intangible Assets, Net | 8,519 |
Finite-Lived Intangible Asset, Useful Life | '9 years |
Diagnostic Test - Pancreas [Member] | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Gross | 2,882 |
Finite-Lived Intangible Assets, Accumulated Amortization | 52 |
Other Intangible Assets, Net | 2,830 |
Finite-Lived Intangible Asset, Useful Life | '7 years |
Biobank [Member] | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Gross | 1,575 |
Finite-Lived Intangible Assets, Accumulated Amortization | 49 |
Other Intangible Assets, Net | 1,526 |
Finite-Lived Intangible Asset, Useful Life | '4 years |
Diagnostic Assets [Domain] | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Gross | 12,976 |
Finite-Lived Intangible Assets, Accumulated Amortization | 101 |
Other Intangible Assets, Net | 12,875 |
Finite-Lived Intangible Asset, Useful Life | '7 years 10 months 24 days |
Diagnostic Lab [Member] | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Gross | 609 |
Finite-Lived Intangible Assets, Accumulated Amortization | 25 |
Other Intangible Assets, Net | $584 |
Finite-Lived Intangible Asset, Useful Life | '2 years 3 months |
Facilities_Realignment_Details
Facilities Realignment (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring Reserve, Current | $661 | ' | $997 |
Restructuring Reserve, Noncurrent | 289 | ' | 965 |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring Reserve, Balance as of December 31, 2012 | 1,962 | ' | ' |
Accretion | 106 | 106 | ' |
Adjustments | -16 | ' | ' |
Payments | -1,102 | ' | ' |
Restructuring Reserve, Balance as of March 31, 2013 | 950 | ' | ' |
Sales Services [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring Reserve, Balance as of December 31, 2012 | 1,125 | ' | ' |
Accretion | 83 | ' | ' |
Adjustments | 0 | ' | ' |
Payments | -506 | ' | ' |
Restructuring Reserve, Balance as of March 31, 2013 | 702 | ' | ' |
Marketing Services [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring Reserve, Balance as of December 31, 2012 | 458 | ' | ' |
Accretion | 0 | ' | ' |
Adjustments | -16 | ' | ' |
Payments | -442 | ' | ' |
Restructuring Reserve, Balance as of March 31, 2013 | 0 | ' | ' |
Segment, Discontinued Operations [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring Reserve, Balance as of December 31, 2012 | 379 | ' | ' |
Accretion | 23 | ' | ' |
Adjustments | 0 | ' | ' |
Payments | -154 | ' | ' |
Restructuring Reserve, Balance as of March 31, 2013 | $248 | ' | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Business Combination, Contingent Consideration, Liability | $4,476,000 | ' |
Available-for-sale Securities | 105,000 | 103,000 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 27,005,000 | ' |
Marketable Securities, Fair Value Disclosure | 1,650,000 | ' |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 17,814,000 | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 17,814,000 | ' |
Marketable Securities, Fair Value Disclosure | 1,650,000 | ' |
Money Market Funds [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 48,000 | ' |
Money Market Funds [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 48,000 | ' |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 48,000 | ' |
Mutual Funds [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 57,000 | ' |
Mutual Funds [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 57,000 | ' |
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 57,000 | ' |
US Treasury Securities [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 1,304,000 | ' |
US Treasury Securities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 1,304,000 | ' |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 1,304,000 | ' |
US Government Agencies Securities [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 241,000 | ' |
US Government Agencies Securities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 241,000 | ' |
US Government Agencies Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Marketable Securities, Fair Value Disclosure | 241,000 | ' |
Cash [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 9,191,000 | ' |
Cash [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | ' |
Cash [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | ' |
Money Market Funds [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 17,814,000 | ' |
Money Market Funds [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 17,814,000 | ' |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | $17,814,000 | ' |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Letters of Credit Outstanding, Amount | $1.60 | $2 |
Accrued_Expenses_and_LongTerm_2
Accrued Expenses and Long-Term Liabilities (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Other Liabilities Disclosure [Abstract] | ' | ' |
Other Liabilities | $1,453,000 | $2,089,000 |
Rent Payable | 580,000 | 969,000 |
Uncertain Tax Positions | 3,226,000 | 3,109,000 |
Restructuring | 289,000 | 965,000 |
Liabilities, Fair Value Disclosure, Recurring | 3,899,000 | ' |
Business Combination, Contingent Consideration, Liability | 4,476,000 | ' |
Other | 142,000 | 142,000 |
Total Long-Term Liabilities | 8,136,000 | 5,185,000 |
Restructuring Reserve, Current | 661,000 | 997,000 |
Self Insurance Reserve, Current | 376,000 | 1,020,000 |
Other Accrued Liabilities | 500,000 | 0 |
Accrued Liabilities, Fair Value Disclosure | 577,000 | 0 |
Business Acquisition, Transaction Costs | 724,000 | 0 |
Liability for Uncertain Tax Positions, Current | 875,000 | 875,000 |
Deferred Rent Credit, Current | 563,000 | 563,000 |
Other Accrued Liabilities, Current | 5,663,000 | 4,484,000 |
Accrued Liabilities, Current | $11,392,000 | $10,028,000 |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 3 Months Ended | ||||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 |
Management [Member] | Management [Member] | Chief Executive Officer [Member] | Performance Shares First Tranche [Domain] | Performance Shares Second Tranche [Domain] | Performance Shares Final Tranche [Domain] | |||||||
Restricted Stock [Member] | Stock Appreciation Rights (SARs) [Member] | Performance base shares [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | |||||||
Performance base shares [Member] | Performance base shares [Member] | Performance base shares [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | 188,165 | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | $5.10 | ' | ' | ' |
Stock Issued | ' | ' | ' | ' | ' | ' | 173,990 | 489,846 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | $5.12 | $1.82 | $1.87 | ' | ' | ' |
Risk-free Interest Rate | ' | ' | 0.71% | 0.33% | ' | ' | ' | ' | ' | ' | ' | ' |
Expected life (in years) | ' | ' | '3 years 6 months | '3 years 6 months | ' | ' | ' | ' | '5 years | ' | '5 years | '5 years |
Performance Shares Target Premium | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' |
Expected volatility | ' | ' | 47.94% | 49.80% | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend Yield | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based Compensation Expense | $406 | $446 | ' | ' | $1,764 | $1,519 | ' | ' | ' | ' | ' | ' |
Performance shares available for exercise | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,496 | 64,460 | 87,209 |
Average stock price, performance shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7.65 | $10.20 | $15.30 |
Consecutive trading days | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | ' | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | -1.50% | -3.10% | ' | -2.30% | 9.30% |
Provision (benefit) for income tax | $64 | $64 | $64 | $194 | $192 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | $29,245 | $34,260 | $93,601 | $114,428 |
Operating (loss) income | -4,223 | -2,052 | -8,243 | -646 |
Capital expenditures | 438 | 692 | 1,298 | 1,648 |
Depreciation expense | 365 | 345 | 1,202 | 922 |
Sales Services [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | 28,186 | 30,748 | 85,048 | 101,267 |
Operating (loss) income | -746 | -1,316 | -1,205 | 31 |
Capital expenditures | 350 | 290 | 1,203 | 545 |
Depreciation expense | 240 | 296 | 697 | 746 |
Marketing Services [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | 1,006 | 781 | 2,623 | 3,966 |
Operating (loss) income | -1,283 | -1,177 | -4,290 | -2,378 |
Capital expenditures | 1 | 402 | 8 | 1,103 |
Depreciation expense | 117 | 46 | 466 | 145 |
Product Commercialization Services [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | 53 | 2,731 | 5,930 | 9,195 |
Operating (loss) income | -2,194 | 441 | -2,748 | 1,701 |
Capital expenditures | 87 | 0 | 87 | 0 |
Depreciation expense | $8 | $3 | $39 | $31 |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Discontinued Operations and Disposal Groups [Abstract] | ' | ' | ' | ' | ' |
Revenue, net | $0 | $0 | $0 | $0 | ' |
(Loss) income from discontinued operations, before income tax | -28 | -27 | -114 | -27 | ' |
Provision (benefit) for income tax | 1 | 1 | 4 | 4 | ' |
(Loss) income from discontinued operations, net of tax | -29 | -28 | -118 | -31 | ' |
Current assets | 0 | ' | 0 | ' | 0 |
Non-current assets | 150 | ' | 150 | ' | 150 |
Total assets | 150 | ' | 150 | ' | 150 |
Current liabilities | 365 | ' | 365 | ' | 405 |
Non-current liabilities | 399 | ' | 399 | ' | 619 |
Total liabilities | $764 | ' | $764 | ' | $1,024 |
Investment_in_NonControlled_En1
Investment in Non-Controlled Entity and Other Arrangements (Details) (USD $) | 6 Months Ended | 9 Months Ended | 12 Months Ended | 24 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 |
Scenario, Forecast [Member] | Scenario, Forecast [Member] | Scenario, Forecast [Member] | ||||
Investment and Loan With Non-Controllable Entity [Abstract] | ' | ' | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | $1.50 | ' | ' | ' |
Other Significant Noncash Transaction, Value of Consideration Given | ' | 0.5 | ' | ' | ' | ' |
Loans Receivable, Net | 0.7 | 0.6 | ' | ' | ' | ' |
Debt Instrument, Interest Rate During Period | 4.00% | ' | ' | ' | ' | ' |
Statement [Line Items] | ' | ' | ' | ' | ' | ' |
Collaborative Arrangement, Potential Maximum Stock Option Price | ' | ' | ' | 3 | ' | ' |
Royalty Percentage, Minimum Range | ' | ' | ' | 6.00% | ' | ' |
Revenue Range, Low-end | ' | ' | ' | 50 | ' | ' |
Royalty Percentage, Maximum Range | ' | ' | ' | 8.00% | ' | ' |
Revenue Range Maximum | ' | ' | ' | 100 | ' | ' |
Business Combination, Indemnification Assets, Range of Outcomes, Value, Low | ' | ' | ' | ' | ' | 1 |
Gain (Loss) on Contract Termination | ' | ' | ' | 1.5 | ' | ' |
Liquidity Disclosure, Future Obligations Not Expected to be Repaid, Amount | ' | ' | ' | ' | $0.50 | ' |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 |
Diagnostic Test - Pancreas [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||
Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | RedPath [Member] | |||||
Prior to October 31, 2016 | After October 31, 2016, prior to October 31, 2017 | After October 31, 2017, prior to October 31, 2018 | London Interbank Offered Rate (LIBOR) [Member] | installment | Common Stock, Milestone One [Member] | Common Stock, Milestone Two [Member] | Cash Payments, Milestone One [Member] | Cash Payments, Milestone One [Member] | Cash Payments, Milestone Two [Member] | Cash Payments, Milestone Two [Member] | Revenue Based Payments, A [Member] | Revenue Based Payments, A [Member] | Revenue Based Payments, B [Member] | Revenue Based Payments, B [Member] | Revenue Based Payments, B [Member] | |||||||
Barrett's Esophagus Management [Member] | Basket of Assays [Member] | Diagnostic Test - Pancreas [Member] | Minimum [Member] | Maximum [Member] | Barrett's Esophagus Management [Member] | |||||||||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of payment installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate in event of default | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issuable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent cash payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | 5,000,000 | ' | ' | ' | ' | ' | ' |
Annual net sales, basis for contingent cash payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,000,000 | ' | 37,000,000 | ' | ' | ' | ' | ' |
Royalty percentage | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.50% | ' | 10.00% | 20.00% | ' |
Annual net sales, minimum basis for royalty payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | ' | ' | 30,000,000 |
Annual net sales, maximum basis for royalty payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 |
Loan amount | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable rate basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'three month LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Floor of interest rate basis | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in interest in case of default | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly maximum, revenue payment | ' | ' | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue payment, percentage | ' | ' | ' | ' | 125.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Origination fee | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exit fee | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment fee, percentage of loan | ' | ' | ' | ' | ' | ' | 6.00% | 5.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment fee, percentage of revenue | ' | ' | ' | ' | 1.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment fee, base for revenue percentage | ' | ' | ' | ' | 80,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net proceeds received from Credit Agreement | ' | ' | ' | $19,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |