Document_And_Entity_Informatio
Document And Entity Information | 12 Months Ended |
Dec. 31, 2013 | |
Document Information [Line Items] | ' |
Document Type | '20-F |
Amendment Flag | 'false |
Document Period End Date | 31-Dec-13 |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'FY |
Trading Symbol | 'CKSW |
Entity Registrant Name | 'CLICKSOFTWARE TECHNOLOGIES LTD |
Entity Central Index Key | '0001105841 |
Current Fiscal Year End Date | '--12-31 |
Entity Well-known Seasoned Issuer | 'No |
Entity Current Reporting Status | 'Yes |
Entity Voluntary Filers | 'No |
Entity Filer Category | 'Accelerated Filer |
Entity Common Stock, Shares Outstanding | 32,494,575 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $25,346 | $12,793 |
Deposits (Note 3) | 9,001 | 30,310 |
Marketable securities (Note 3) | 22,586 | 15,635 |
Trade receivables, net of allowance for doubtful accounts of $500 and $738 as of December 31, 2013 and 2012, respectively (Note 4) | 22,490 | 21,792 |
Deferred taxes (Note 14) | 1,740 | 220 |
Other receivables and prepaid expenses (Note 5) | 4,408 | 3,398 |
Total Current Assets | 85,571 | 84,148 |
Long-Term Assets: | ' | ' |
Deposits (Note 6 & Note 11A) | 1,072 | 621 |
Other receivables and prepaid expenses (Note 5) | 218 | 275 |
Severance Pay funds (Note 7) | 2,052 | 1,965 |
Deferred taxes (Note 14) | 2,060 | 1,230 |
Identifiable Intangible assets, Net (Note 8) | 0 | 452 |
Goodwill (Note 8) | 1,572 | 1,572 |
Property and Equipment, Net (Note 9) | 5,023 | 4,206 |
Total Long-Term Assets | 11,997 | 10,321 |
TOTAL ASSETS | 97,568 | 94,469 |
Current Liabilities: | ' | ' |
Accounts payable and accrued expenses (Note 10) | 17,707 | 16,536 |
Deferred revenues | 13,420 | 9,047 |
Total Current Liabilities | 31,127 | 25,583 |
Long-Term Liabilities: | ' | ' |
Accrued severance pay (Note 7) | 4,840 | 4,465 |
Deferred tax liability (Note 14) | 40 | 0 |
Deferred revenues | 4,642 | 1,503 |
Total Long-Term Liabilities | 9,522 | 5,968 |
Total Liabilities | 40,649 | 31,551 |
Commitments and Contingencies (Note 11) | ' | ' |
Shareholders' Equity (Note 12): | ' | ' |
Special preferred shares NIS 0.02 par value: Authorized - 5,000,000 as of December 31, 2013 and 2012; No issued and outstanding shares as of December 31, 2013 and 2012; | ' | ' |
Ordinary shares of NIS 0.02 par value: Authorized - 100,000,000 as of December 31, 2013 and 2012; Issued - 32,533,575 shares as of December 31, 2013 and 31,693,942 as of December 31, 2012; Outstanding - 32,494,575 shares as of December 31, 2013 and 31,654,942 shares as of December 31, 2012; | 137 | 132 |
Additional paid-in capital | 92,301 | 87,566 |
Accumulated other comprehensive income | 703 | 559 |
Accumulated deficit | -36,179 | -25,296 |
Stockholders' Equity before Treasury Stock, Total | 56,962 | 62,961 |
Treasury shares, at cost: 39,000 shares | -43 | -43 |
Total shareholders' equity | 56,919 | 62,918 |
Total Liabilities and Shareholders' Equity | $97,568 | $94,469 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | USD ($) | ILS | USD ($) | ILS |
Trade receivables, allowance for doubtful accounts | $500 | ' | $738 | ' |
Special preferred shares, par value | ' | 0.02 | ' | 0.02 |
Special preferred shares, Authorized | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 |
Special preferred shares, issued shares | 0 | 0 | 0 | 0 |
Special preferred shares, outstanding shares | 0 | 0 | 0 | 0 |
Ordinary shares, par value | ' | 0.02 | ' | 0.02 |
Ordinary shares, Authorized | 100,000,000 | 100,000,000 | 100,000,000 | 100,000,000 |
Ordinary shares, Issued | 32,533,575 | 32,533,575 | 31,693,942 | 31,693,942 |
Ordinary shares, Outstanding | 32,494,575 | 32,494,575 | 31,654,942 | 31,654,942 |
Treasury shares, shares | 39,000 | 39,000 | 39,000 | 39,000 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues (Note 13): | ' | ' | ' |
Software license | $28,679 | $34,541 | $31,542 |
Services | 74,502 | 65,505 | 55,545 |
Total revenues | 103,181 | 100,046 | 87,087 |
Cost of revenues: | ' | ' | ' |
Software license | 4,413 | 3,686 | 2,519 |
Services | 39,894 | 35,185 | 29,177 |
Total cost of revenues | 44,307 | 38,871 | 31,696 |
Gross profit | 58,874 | 61,175 | 55,391 |
Operating expenses: | ' | ' | ' |
Research and development | 15,970 | 13,146 | 9,019 |
Selling and marketing | 39,706 | 31,977 | 23,382 |
General and administrative | 9,121 | 8,779 | 7,386 |
Impairment of goodwill | 0 | 0 | 939 |
Total operating expenses | 64,797 | 53,902 | 40,726 |
Operating (loss) income | -5,923 | 7,273 | 14,665 |
Other income | 0 | 110 | 0 |
Financial income, net | 839 | 274 | 7 |
Net (loss) income before taxes | -5,084 | 7,657 | 14,672 |
Taxes on income (Tax benefit) (Note 14) | -924 | 169 | 2,462 |
Net (loss) income | -4,160 | 7,488 | 12,210 |
Other comprehensive income, net of tax: | ' | ' | ' |
Gain in respect of marketable securities | 411 | 37 | 45 |
Gain /(Loss) in respect of derivatives instruments designated for cash flow hedge | -267 | 689 | -440 |
Comprehensive (loss) income | ($4,016) | $8,214 | $11,815 |
Basic net (loss) earnings per share (in dollars per share) | ($0.13) | $0.24 | $0.39 |
Diluted net (loss) earnings per share (in dollars per share) | ($0.13) | $0.23 | $0.38 |
Shares used in computing basic net (loss) earnings per share (in shares) | 32,048,030 | 31,545,435 | 31,014,373 |
Shares used in computing diluted net (loss) earnings per share (in shares) | 32,048,030 | 32,837,789 | 32,226,883 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $) | Total | Ordinary Shares | Additional paid-in capital | Accumulated deficit | Accumulated Other Comprehensive Income | Treasury Shares |
In Thousands, except Share data | ||||||
Balance at Dec. 31, 2010 | $54,088 | $126 | $81,170 | ($27,393) | $228 | ($43) |
Balance (in shares) at Dec. 31, 2010 | ' | 30,634,227 | ' | ' | ' | ' |
Employee options exercised | 1,487 | 5 | 1,482 | 0 | 0 | 0 |
Employee options exercised (in shares) | 734,661 | 734,661 | ' | ' | ' | ' |
Stock-based compensation expense related to employees and consultants | 1,731 | 0 | 1,731 | 0 | 0 | 0 |
Accumulated other comprehensive income | -395 | 0 | 0 | 0 | -395 | 0 |
Dividend | -10,017 | 0 | 0 | -10,017 | 0 | 0 |
Net income | 12,210 | 0 | 0 | 12,210 | 0 | 0 |
Balance at Dec. 31, 2011 | 59,104 | 131 | 84,383 | -25,200 | -167 | -43 |
Balance (in shares) at Dec. 31, 2011 | ' | 31,368,888 | ' | ' | ' | ' |
Employee options exercised | 650 | 1 | 649 | 0 | 0 | 0 |
Employee options exercised (in shares) | 286,054 | 286,054 | ' | ' | ' | ' |
Stock-based compensation expense related to employees and consultants | 2,534 | 0 | 2,534 | 0 | 0 | 0 |
Accumulated other comprehensive income | 726 | 0 | 0 | 0 | 726 | 0 |
Dividend | -7,584 | 0 | 0 | -7,584 | 0 | 0 |
Net income | 7,488 | 0 | 0 | 7,488 | 0 | 0 |
Balance at Dec. 31, 2012 | 62,918 | 132 | 87,566 | -25,296 | 559 | -43 |
Balance (in shares) at Dec. 31, 2012 | ' | 31,654,942 | ' | ' | ' | ' |
Employee options exercised | 1,996 | 5 | 1,991 | 0 | 0 | 0 |
Employee options exercised (in shares) | 839,633 | 839,633 | ' | ' | ' | ' |
Stock-based compensation expense related to employees and consultants | 2,744 | 0 | 2,744 | 0 | 0 | 0 |
Accumulated other comprehensive income | 144 | 0 | 0 | 0 | 144 | 0 |
Dividend | -6,723 | 0 | 0 | -6,723 | 0 | 0 |
Net income | -4,160 | 0 | 0 | -4,160 | 0 | 0 |
Balance at Dec. 31, 2013 | $56,919 | $137 | $92,301 | ($36,179) | $703 | ($43) |
Balance (in shares) at Dec. 31, 2013 | ' | 32,494,575 | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net (loss) income | ($4,160) | $7,488 | $12,210 |
Income and expense items not involving cash flows: | ' | ' | ' |
Depreciation | 2,593 | 2,144 | 1,519 |
Stock-based compensation | 2,744 | 2,534 | 1,731 |
Amortization of acquired intangible assets | 278 | 714 | 782 |
Impairment of goodwill | 0 | 0 | 939 |
Impairment of acquired intangible assets | 174 | 0 | 55 |
Severance pay, net | 288 | 399 | 373 |
Gain on marketable securities | -429 | -146 | -94 |
Other | 92 | 13 | 11 |
Changes in operating assets and liabilities: | ' | ' | ' |
Trade receivables | -698 | 1,586 | -9,123 |
Deferred taxes | -2,310 | -540 | 1,310 |
Other receivables | -809 | -104 | -443 |
Accounts payable and accrued expenses | 1,171 | 2,928 | 1,034 |
Deferred revenues | 7,512 | -807 | 1,623 |
Net cash provided by operating activities | 6,446 | 16,209 | 11,927 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Purchases of equipment | -3,502 | -2,490 | -2,018 |
Decrease (Increase) in deposits, net | 20,858 | -1,595 | -11,969 |
Investments in marketable securities | -15,686 | -7,459 | -8,298 |
Proceeds from sales of marketable securities | 9,164 | 2,915 | 5,286 |
Net cash provided by (used in) investing activities | 10,834 | -8,629 | -16,999 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Dividend paid | -6,723 | -10,120 | -7,481 |
Employee options exercised | 1,996 | 650 | 1,487 |
Net cash used in financing activities | -4,727 | -9,470 | -5,994 |
Increase (decrease) in cash and cash equivalents | 12,553 | -1,890 | -11,066 |
Cash and cash equivalents at beginning of year | 12,793 | 14,683 | 25,749 |
Cash and cash equivalents at end of year | 25,346 | 12,793 | 14,683 |
Supplemental cash flow information: | ' | ' | ' |
Cash paid for taxes | 2,052 | 692 | 713 |
Cash paid for interest | $0 | $1 | $4 |
GENERAL
GENERAL | 12 Months Ended | ||
Dec. 31, 2013 | |||
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | ' | ||
Nature of Operations [Text Block] | ' | ||
NOTE 1 – GENERAL | |||
ClickSoftware Technologies Ltd. (the "Company" or "ClickSoftware") was incorporated in Israel and is a leading provider of software products and solutions for workforce management and optimization. The Company's products and solutions incorporate best business practices, key business functions of service operations, and sophisticated decision-making algorithms that enable its customers to more efficiently manage their service operations in a scalable, integrated manner. | |||
The Company's solutions are grouped into four main suites which together comprise its Service Optimization Suite: | |||
· | Field Service Daily Suite covers automatic decision making and optimization support to manage field service operations. | ||
· | Roster (Shift Planning) Suite covers shift planning needs for both the manager as well as the employee to optimize the balance between staffing levels needed for serving customers and managing labor costs, and employee preferences. | ||
· | ClickMobile and Mobility Suite covers the needs of the mobile individual and back-office staff for field data communication. | ||
· | Forecasting and Planning Suite covers tactical short term resource planning. | ||
The Company's Service Optimization Suite is designed to increase service revenue and customer responsiveness while reducing costs. The Company's Service Optimization Suite includes strategic and tactical workforce planning, optimized service scheduling, intelligent problem resolution, mobile workforce management, shift planning and business analytics, connecting various organizational levels and all functions, from executive strategy to operational execution. The following comprise the individual products of the above suites: ClickSchedule, ClickAnalyze, ClickMobile, ClickLocate, ClickContact, ClickRoster, ClickPlan and ClickForecast. The Company provides a cloud-based offering of its Service Optimization Suite via ClickSoftware Cloud Services, which aims at the large market enterprise customers and ClickExpress, which aims at the small and mid-size company markets. | |||
SIGNIFICANT_ACCOUNTING_POLICIE
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis Of Presentation and Significant Accounting Policies [Text Block] | ' |
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES | |
Basis of presentation | |
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States. | |
Principles of consolidation | |
The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries in the United States (ClickSoftware, Inc. a wholly owned subsidiary of ClickSoftware Europe Limited), in the United Kingdom (ClickSoftware Europe Limited), in Germany (ClickSoftware Central Europe, GmbH), in Belgium (ClickSoftware Belgium, N.V.), in Australia (ClickSoftware Australia Pty. Ltd., a wholly owned subsidiary of ClickSoftware, Inc.), in Japan (ClickSoftware Japan KK), in India (ClickSoftware India Private Limited), in South Africa (ClickSoftware Technologies (Pty) Ltd), in Brazil (ClickSoftware Brazil Soluções em Gestão de Forças de Trabalho Ltda) and in Russia (ClickSoftware Limited Liability Company). The subsidiaries are primarily engaged in the sale and marketing of the Company's products in the Americas, EMEA (Europe, Middle East and Africa but not including Israel) and the rest of the world. All significant intercompany balances and transactions have been eliminated. | |
Financial statements in U.S. dollars | |
The reporting currency of the Company is the U.S. dollar ("dollar"). The dollar is the functional currency of the Company and its subsidiaries. Transactions and balances originally denominated in dollars are presented at their original amounts. Non-dollar transactions and balances are remeasured into dollars in accordance with the principles set forth in ASC 830 ("Foreign Currency Matters"). All exchange gains and losses from translation of monetary balance sheet items resulting from transactions in non-dollar currencies are recorded in the statement of operations as they arise. | |
Use of estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities 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. Actual results could differ from those estimates. | |
Cash and cash equivalents | |
Cash equivalents include short-term, highly liquid investments that are readily convertible to cash, with original maturities of three months or less. | |
Concentration of credit risk | |
Financial instruments, which potentially subject the Company to credit risk, consist principally of cash instruments and accounts receivable. The Company maintains cash and cash equivalents and investments with major financial institutions in the United States, Europe and Israel. Nearly all of the cash and investments are not insured by the FDIC or other similar governmental insurance limits. The accounts receivable are derived from sales to a large number of customers, mainly large industrial corporations and their suppliers located mainly in Europe, the United States and Brazil. The Company generally does not require collateral. The Company performs ongoing credit evaluations of its customers and maintains an allowance for doubtful accounts which management believes adequately covers all anticipated losses in respect of trade receivables. | |
Short term bank deposits | |
Bank deposits with maturities of more than three months but less than one year are included in short-term deposits. | |
Marketable securities | |
Securities classified as available-for-sale are reported at fair value with unrealized gains and losses, net of related tax, recorded as a separate component of other comprehensive income in equity until realized. Unrealized losses that are considered to be other-than-temporary are charged to statement of operations as an impairment charge and are included in the consolidated statement of operations under financial expenses. Realized gains and losses on sales of the securities, as well as premium or discount amortization, are included in the consolidated statement of operations as financial income or expenses. | |
Fair values for marketable securities were determined using the quoted prices in active market for identical asset (level 1). | |
Property and equipment | |
Property and equipment is stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, ranging from 3 to 16 years. Leasehold improvements are amortized using the straight-line method, over the shorter of the lease term or the useful lives of the improvements. | |
The Company complies with provisions of ASC 360 ("Property, Plant and Equipment"). ASC 360 requires that long-lived assets and certain identifiable intangible assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. | |
Identifiable Intangible Assets | |
Intangible assets representing primarily core technology and in process research and development ("IPR&D"), customer lists and relationships and non-competition arrangements (arising from business combinations) are recorded at cost less accumulated amortization as outlined in Note 8. Intangible assets are amortized over their estimated useful lives on a straight-line basis ranging from 3 to 6 years. As of December 31, 2013 the balance is fully amortized or impaired. | |
Goodwill | |
Goodwill represents the excess purchase price paid by the Company over the fair value of identifiable intangible assets as a result of purchasing a business. Goodwill is not amortized but instead is tested for impairment annually or more frequently if events or changes in circumstances indicate that it may be impaired. Goodwill impairment testing is a two-step process and may be preceded by a qualitative impairment assessment. Qualitative impairment assessment should be made to changes in circumstances and events indicating whether some of the intangible assets were impaired. When determined, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the two-step impairment test would be required. The first step involves comparing the fair value of a company’s reporting units to their carrying amount. If the fair value of the reporting unit is determined to be greater than its carrying amount, there is no impairment. If the reporting unit’s carrying amount is determined to be greater than the fair value, the second step must be completed to measure the amount of impairment, if any. Step two calculates the implied fair value of goodwill by deducting the fair value of all tangible and intangible assets, excluding goodwill, of the reporting unit from the fair value of the reporting unit as determined in step one. The implied fair value of the goodwill in this step is compared to the carrying value of goodwill. If the implied fair value of the goodwill is less than the carrying value of the goodwill, an impairment loss equivalent to the difference is recorded. | |
Software research and development costs | |
Software research and development costs incurred prior to the establishment of technological feasibility are included in research and development expenses. The Company defines establishment of technological feasibility as the completion of a working model. Software development costs incurred subsequent to the establishment of technological feasibility through the period of general market availability of the products are capitalized, if material, after consideration of various factors, including net realizable value. To date, software development costs that are eligible for capitalization have not been material and have been expensed. | |
Revenue recognition | |
The Company recognizes revenues in accordance with the ASC 985-605 ("Software Revenue Recognition"). | |
In accordance with ASC 985-605, revenues from software license fees are recognized when persuasive evidence of an arrangement exists, the software product covered by written agreement or a purchase order signed by the customer has been delivered, the license fees are fixed and determinable, collection of the license fees is considered probable and vendor-specific objective evidence (VSOE) of the fair value of undelivered elements exists. | |
License fees from software arrangements that involve multiple elements, such as consulting, training and post-contract customer support, are allocated to each element of the arrangement based on the residual method. Under the residual method, consideration is allocated to undelivered elements based upon the VSOE of those elements, with the residual of the arrangement fee allocated to and recognized as software license revenue. The Company measures the VSOE for each element according to the price charged when the element is sold separately. For post-contract customer support, the Company determines the VSOE based on the renewal price charged. For other services, such as consulting and training, the Company determines the VSOE based on the fixed hourly/daily rate charged in stand-alone service transactions. | |
Arrangements that include professional services are evaluated to determine whether those services are essential to the functionality of other elements of the arrangement. When services are considered essential, revenue under the arrangement is recognized using contract accounting. When services are not considered essential, revenue allocable to the services is recognized as the services are performed. | |
Revenue from software licenses that require significant customization, integration and implementation are recognized based on ASC 605-35 ("Construction-Type and Production-Type Contracts") using contract accounting on the percentage-of-completion method, based on the relationship of actual working hours incurred to total working hours estimated to be incurred over the duration of the contract. In recognizing revenues based on the percentage-of-completion method, the Company estimates time to completion with revisions to estimates reflected in the period in which changes become known. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are first determined, in the amount of the estimated loss on the entire contract. | |
Service revenues are comprised of revenues from consulting, training, and post-contract customer support. Revenues from consulting services are recognized on a time and material basis, or in a fixed price contract, on a percentage of completion basis. Revenues from training are recognized as the services are provided. Post-contract customer support arrangements provide for technical support and the right to unspecified updates on an if-and-when-available basis. Revenues from these arrangements are recognized ratably over the term of the arrangement, usually one year. | |
The Company classifies revenue as either software license revenue or services revenue for statement of operations presentation. The Company allocates revenue to each of these categories based on the VSOE for elements in each revenue arrangement and based on the application of the residual method for arrangements in which the Company has established the VSOE for all undelivered elements. Where the Company is unable to establish the VSOE for all undelivered elements, the Company takes a systematic approach, whereby the Company first allocates revenue to any undelivered elements for which the VSOE has been established, and then allocates revenue to any undelivered elements for which the VSOE has not been established based on management's best estimate of the fair value of those undelivered elements. The Company then applies a residual method to determine the license fee. Management's best estimate of fair value of undelivered elements for which the VSOE has not been established is based upon the VSOE of similar offerings and other objective criteria. | |
Basic and diluted net income per share | |
Basic and diluted net income per share are presented in conformity with ASC 260 ("Earnings per Share") for all years presented. Basic net income per share have been computed using the weighted-average number of ordinary shares outstanding during the year, net of treasury shares (see Note 12). In computing diluted earnings (loss) per share, the potential dilutive effect of outstanding equity awards is taken into account using the treasury stock method. | |
Outstanding share options and shares issued and reserved for outstanding share options have been excluded from the calculation of basic and diluted net income per share to the extent such securities are anti-dilutive. The total number of options to purchase shares, excluded from the calculations of diluted net income per share, were 3,600,186, 1,242,416 and 497,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Fair value of financial instruments | |
The financial instruments of the Company consist mainly of cash and cash equivalents, short-term and long-term investments, current accounts receivable, marketable securities and accounts payable. In view of their nature, the fair value of the financial instruments included in working capital of the Company (other than marketable securities) is usually identical or close to their carrying amounts. | |
Stock-based compensation | |
ASC 718 ("Compensation – Stock Compensation") requires that compensation cost relating to share-based payment awards made to employees and directors be recognized in the financial statements. The main awards issued under Company stock-based compensation plans, which are described in Note 12D, "Employee, Directors, and Consultant Option Plans", include stock options and RSUs. The cost for such awards is measured at the grant date based on the calculated fair value of the award. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods (generally the vesting period of the equity award) reduced by estimated forfeitures in the Company Consolidated Statement of Operations. | |
Income taxes | |
The Company accounts for income taxes, in accordance with the provisions of ASC 740 ("Income Taxes,") under the liability method of accounting. Under the liability method, deferred taxes are determined based on the differences between the financial statement and tax basis of assets and liabilities at enacted tax rates in effect in the year in which the differences are expected to reverse. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts expected to be realized. | |
Deferred tax liabilities and assets are classified as current or non-current based on the classification of the related asset or liability for financial reporting or, if not related to an asset or liability for financial reporting, according to the expected reversal dates of the specific temporary differences. | |
For uncertain tax positions, the Company follows a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate resolution. The Company’s policy is to include interest and penalties related to unrecognized tax benefits within income tax expense. | |
Recent accounting pronouncements | |
In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires companies to disclose significant amounts that have been reclassified out of accumulated other comprehensive income. Amounts that are required to be reclassified in their entirety to net income must be disclosed either on the face of the income statement or in the notes to the financial statements. Amounts that are not required to be reclassified in their entirety to net income in the same reporting period must be disclosed by a cross reference to other disclosures that provide additional information regarding such amounts. ASU No. 2013-02 is effective for fiscal years and interim periods beginning after December 15, 2012. The adoption of ASU No. 2013-02 has not had a material impact on the Company’s financial position or results of operations. | |
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides explicit guidance on the financial statement presentation of an unrecognized tax benefit. ASU No. 2013-11 requires unrecognized tax benefits to be presented as a reduction to a deferred tax asset, except that, if a net operating loss carryforward, a similar tax loss or a tax credit carryforward is not available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position, then the unrecognized tax benefit should be presented as a liability. ASU No. 2013-11 has become effective for fiscal years and interim periods beginning after December 15, 2013. The adoption of ASU No. 2013-11 has not had a material impact on the Company’s financial position or results of operations. | |
SHORTTERM_DEPOSITS_AND_MARKETA
SHORT-TERM DEPOSITS AND MARKETABLE SECURITIES | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Short Term Deposits and Marketable Securities [Abstract] | ' | |||||||
Short Term Deposits and Marketable Securities [Text Block] | ' | |||||||
NOTE 3 — SHORT-TERM DEPOSITS AND MARKETABLE SECURITIES | ||||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Bank deposits (1) | $ | 9,001 | $ | 30,310 | ||||
Marketable securities - government and corporate bonds (2) | 15,203 | 10,600 | ||||||
Marketable securities - equities(3) | 7,383 | 5,035 | ||||||
$ | 31,587 | $ | 45,945 | |||||
(1) The bank deposits bear interest at an average annual rate of 2.1% and 1.3% for 2013 and 2012, respectively. | ||||||||
(2) The Bonds provide a yield at an average annual rate of 1.5% and 1.55% for 2013 and 2012, respectively. | ||||||||
(3) Unrealized net gains are immaterial. | ||||||||
TRADE_RECEIVABLES_AND_ALLOWANC
TRADE RECEIVABLES AND ALLOWANCE FOR DOUBTFUL ACCOUNTS | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Trade Receivables and Allowance For Doubtful Accounts [Abstract] | ' | |||||||
Trade Receivables and Allowance For Doubtful Accounts [Text Block] | ' | |||||||
NOTE 4 — TRADE RECEIVABLES AND ALLOWANCE FOR DOUBTFUL ACCOUNTS | ||||||||
A. | Trade receivables | |||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Accounts receivables billed | $ | 20,190 | $ | 18,847 | ||||
Accounts receivables unbilled | 2,800 | 3,683 | ||||||
Allowance for doubtful accounts | -500 | -738 | ||||||
Trade receivables, net | $ | 22,490 | $ | 21,792 | ||||
B. | Allowance for doubtful accounts | |||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Balance at beginning of year | $ | 738 | $ | 701 | ||||
Change of allowance | -97 | 37 | ||||||
Write-off | -141 | - | ||||||
Balance at year end | $ | 500 | $ | 738 | ||||
OTHER_RECEIVABLES_AND_PREPAID_
OTHER RECEIVABLES AND PREPAID EXPENSES | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Prepaid Expense and Other Assets [Abstract] | ' | |||||||
Prepaid Expenses and Other Current Assets Disclosure [Text Block] | ' | |||||||
NOTE 5 — OTHER RECEIVABLES AND PREPAID EXPENSES | ||||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Prepaid expenses | $ | 1,675 | $ | 1,890 | ||||
Government receivables | 1,533 | 616 | ||||||
Employees | 467 | 198 | ||||||
Other | 951 | 969 | ||||||
$ | 4,626 | $ | 3,673 | |||||
Other receivables and prepaid expenses – Short term | $ | 4,408 | $ | 3,398 | ||||
Other receivables and prepaid expenses – Long term | 218 | 275 | ||||||
$ | 4,626 | $ | 3,673 | |||||
LONGTERM_DEPOSITS
LONG-TERM DEPOSITS | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Long-Term Investments [Abstract] | ' | |||||||
Deposits Assets Disclosure Noncurrent [Text Block] | ' | |||||||
NOTE 6 — LONG-TERM DEPOSITS | ||||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Bank deposits (see also Note 11A) | $ | 1,072 | $ | 621 | ||||
$ | 1,072 | $ | 621 | |||||
The bank deposits bear interest at an average annual rate of 2.1% and 1.3% for 2013 and 2012, respectively. | ||||||||
ACCRUED_SEVERANCE_PAY_NET
ACCRUED SEVERANCE PAY, NET | 12 Months Ended |
Dec. 31, 2013 | |
Accrued Severance Pay [Abstract] | ' |
Compensation and Employee Benefit Plans [Text Block] | ' |
NOTE 7 — ACCRUED SEVERANCE PAY, NET | |
Under Israeli law and labor agreements, the Company is required to make severance payments to its dismissed employees and employees leaving its employment in certain other circumstances. The Company's severance pay obligation to its employees, which is calculated on the basis of the salary of each employee for the last month of the reported period multiplied by the years of such employee's employment, is reflected by the accrual presented in the balance sheet and is partially funded by deposits with insurance companies and provident funds. Outside of Israel the Company accrues severance pay obligations when required under the applicable laws in such jurisdictions. Severance pay obligations made to Israeli employees are considered significant compared to all other subsidiaries. | |
Severance pay expenses amounted to $1,932, $1,632 and $1,383 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
GOODWILL_AND_OTHER_INTANGIBLE_
GOODWILL AND OTHER INTANGIBLE ASSETS, NET | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | |||||||||
NOTE 8 – GOODWILL AND OTHER INTANGIBLE ASSETS, NET | ||||||||||
A. | Goodwill: | |||||||||
DECEMBER 31, | ||||||||||
2013 | 2012 | |||||||||
Balance as of January 1 | $ | 1,572 | $ | 1,572 | ||||||
Changes during year: | ||||||||||
Impairment | - | - | ||||||||
Balance as of December 31 | $ | 1,572 | $ | 1,572 | ||||||
B. | Identifiable intangible assets, Net: | |||||||||
DECEMBER 31, | ||||||||||
Useful life | 2013 | 2012 | ||||||||
Original amount | ||||||||||
Core technology | 3-6 years | $ | 1,507 | $ | 1,507 | |||||
In process research & development | 4 years | 472 | 472 | |||||||
Customer relationship, net of impairment (see C below) | 3-6 years | 1,007 | 1,007 | |||||||
Non-compete | 4 years | 127 | 127 | |||||||
$ | 3,113 | $ | 3,113 | |||||||
Accumulated amortization | 3,113 | 2,661 | ||||||||
Identifiable intangible assets, Net | $ | - | $ | 452 | ||||||
C. | Goodwill and Other Intangible Assets impairment testing | |||||||||
The company performs annual impairment tests in the fourth quarter. For impairment testing the company identified two separate reporting units: ClickSoftware and Service Tycoon (ST) (acquired from AST Technologies in 2009). For ClickSoftware the fair value was significantly higher than the carrying amount For Clicksoftware reporting unit no events or changes in circumstances indicating intangible assets impairment were detected during 2013. In the fourth quarter of 2013 as a result of the Company’s analysis, the company determined that ST technology will no longer be used by the Company. Thus the company reassessed the remaining core technology of ST at a value of zero. As a result a $174 of intangible assets impairment charges was recorded as of December 31, 2013. | ||||||||||
PROPERTY_AND_EQUIPMENT_NET
PROPERTY AND EQUIPMENT, NET | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property Plant and Equipment Disclosure [Text Block] | ' | |||||||
NOTE 9 — PROPERTY AND EQUIPMENT, NET | ||||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Cost | ||||||||
Computers and office equipment | $ | 10,928 | $ | 8,645 | ||||
Leasehold improvements | 2,992 | 2,502 | ||||||
$ | 13,920 | $ | 11,147 | |||||
Accumulated depreciation | 8,897 | 6,941 | ||||||
Property and equipment, net | $ | 5,023 | $ | 4,206 | ||||
ACCOUNTS_PAYABLE_AND_ACCRUED_E
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | |||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | |||||||
NOTE 10 — ACCOUNTS PAYABLE AND ACCRUED EXPENSES | ||||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Suppliers | $ | 4,720 | $ | 5,392 | ||||
Employee and related costs | 9,235 | 8,598 | ||||||
Government commitment | 3,752 | 2,546 | ||||||
$ | 17,707 | $ | 16,536 | |||||
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||
NOTE 11 — COMMITMENTS AND CONTINGENCIES | |||||
A. | The Company has entered into standby letters of credit agreements with banks and financial institutions relating to the guarantee of future performance on certain contracts. As of December 31, 2013, contingent liabilities on outstanding letter of credit agreements which expire after December 31, 2014 were approximately $1.1 million in the aggregate. The letters of credit are secured by $1.1 million in deposits to cover any potential payments under the guarantees. | ||||
B. | The Company operates from leased facilities in Israel, the United States, United Kingdom, Germany, India and Australia. The leases for these facilities expire in the years 2014 through 2021. Minimum future rental payments, as of December 31, 2013 are as follows: | ||||
2014 | $ | 3,783 | |||
2015 | 2,127 | ||||
2016 | 1,615 | ||||
2017-2021 | 1,648 | ||||
$ | 9,173 | ||||
Rent expense amounted to $3,527, $2,442 and $2,244 for the years ended December 31, 2013, 2012 and 2011, respectively. The Company has a lease for approximately 58,000 square feet of office space in Petach Tikva, Israel. The Company has a lease for office space in Burlington, Massachusetts for approximately 25,000 square feet. The Company has a lease for office space in Burnham, United Kingdom for approximately 11,500 square feet. The Company has a lease for office space in Melbourne, Australia for approximately 10,000 square feet. The Company has a lease for office space in Gurgaon, India for approximately 22,000 square feet. | |||||
C. | From time to time, the Company is involved in various routine legal proceedings incidental to the ordinary course of the Company’s business. The Company does not believe that the outcome of these pending legal proceeding will have a material adverse effect on the Company's business or consolidated financial condition. | ||||
SHAREHOLDERS_EQUITY
SHAREHOLDERS' EQUITY | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
Stockholders Equity Note Disclosure [Text Block] | ' | ||||||||||||||||
NOTE 12 — SHAREHOLDERS' EQUITY | |||||||||||||||||
A. | Public Company | ||||||||||||||||
The Company's shares are publicly traded on the Nasdaq Global Select Market. | |||||||||||||||||
B. | Share Capital | ||||||||||||||||
Share capital is comprised of issued and outstanding Ordinary Shares of NIS 0.02 par value. | |||||||||||||||||
C. | Employee Stock Purchase Plan | ||||||||||||||||
None. | |||||||||||||||||
D. | Employee, Directors, and Consultant Option Plans | ||||||||||||||||
The Company adopted its umbrella option plan in 2000 (the "Plan"). Pursuant to the Plan the number of Ordinary Shares made available under it automatically increases on the first day of the Company's fiscal year to equal the lesser of: (i) 5% of the outstanding Ordinary Shares on such date, (ii) 1,250,000 Ordinary Shares, and (iii) an amount determined by the Company's board of directors. | |||||||||||||||||
Under the Plan and its sub-plans, the Company granted options to purchase 1,241,000, 794,000 and 554,000 Ordinary Shares at an average exercise price of $7.25, $10.38 and $8.71 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||
During the year ended December 31, 2010, the Company amended the Plan to include the right to grant Restricted Share Units with respect to Ordinary Shares of the Company ("RSUs") with an exercise price per share equal to the par value of each share underlying the RSU. In the year ended December 31, 2010, the board of directors and shareholders at the 2010 Annual Shareholders Meeting ("2010 ASM") approved the grants of an aggregate of 48,000 RSUs to independent directors and a grant of an option to the Company CEO to purchase 100,000 ordinary shares. This RSU grant was in accordance with the resolutions adopted by the shareholders at the 2010 ASM which provided that: (i) each independent director (defined for the purpose hereof as External Directors according to the Companies Law and all other directors other than our employees or our consultants or of any subsidiary), who is appointed as our director, at or after the 2010 ASM, is automatically granted 8,000 RSUs, upon the date such individual first becomes a director; and (ii) each independent director is automatically granted 8,000 RSUs, following each annual meeting of our shareholders, beginning with the Company's 2011 annual shareholders meeting, if on such date he or she shall have served on our Board for at least the preceding six months. | |||||||||||||||||
In accordance with the 2010 ASM resolutions, in the year ended December 31, 2013, the Company granted an aggregate of 48,000 RSUs to independent directors. | |||||||||||||||||
In accordance with the 2010 ASM resolutions, in the year ended December 31, 2012, the Company granted an aggregate of 48,000 RSUs to independent directors. | |||||||||||||||||
In accordance with the 2010 ASM resolutions, in the year ended December 31, 2011, the Company granted an aggregate of 48,000 RSUs to independent directors. | |||||||||||||||||
In the years ended December 31, 2013, 2012 and 2011, the board of directors and shareholders at the annual meetings approved a total grant of an option to the Company chairman to purchase 290,000 ordinary shares. | |||||||||||||||||
During the years 2003-2012 the board of directors decided to increase the reserve for grants under the Plan, by 7,097,269 options (and RSUs). | |||||||||||||||||
A summary of the status of the Company's stock option plans as of December 31, 2013, 2012 and 2011 and changes during the years then ended is as follows: | |||||||||||||||||
OPTIONS AND | OUTSTANDING | WEIGHTED | WEIGHTED | ||||||||||||||
RSUs | OPTIONS AND | -AVERAGE | -AVERAGE | ||||||||||||||
AVAILABLE | RSUs | EXERCISE | FAIR | ||||||||||||||
FOR GRANT | PRICE PER | VALUE OF | |||||||||||||||
SHARE ($) | OPTION | ||||||||||||||||
Outstanding at December 31, 2010 | 2,528,737 | 3,248,120 | 3.31 | ||||||||||||||
Increase in option pool, net | 800,000 | - | - | ||||||||||||||
Granted | -554,000 | 554,000 | 8.71 | $ | 5.17 | ||||||||||||
Forfeited | 45,650 | -45,650 | 6.14 | ||||||||||||||
Exercised | - | -734,661 | 2.07 | ||||||||||||||
Outstanding at December 31, 2011 | 2,820,387 | 3,021,809 | 4.56 | ||||||||||||||
Increase in option pool, net | 516,691 | - | - | ||||||||||||||
Granted | -794,000 | 794,000 | 10.38 | $ | 5.2 | ||||||||||||
Forfeited | 89,331 | -89,331 | 10.04 | ||||||||||||||
Exercised | - | -286,054 | 2.21 | ||||||||||||||
Outstanding at December 31, 2012 | 2,632,409 | 3,440,424 | 5.96 | ||||||||||||||
Increase in option pool, net | 800,000 | - | - | ||||||||||||||
Granted | -1,241,000 | 1,241,000 | 7.25 | $ | 3.64 | ||||||||||||
Forfeited | 241,605 | -241,605 | 8.52 | ||||||||||||||
Exercised | - | -839,633 | 2.38 | ||||||||||||||
Outstanding at December 31, 2013 | 2,433,014 | 3,600,186 | 6.95 | ||||||||||||||
The following table summarizes information about options outstanding and exercisable as of December 31, 2013: | |||||||||||||||||
OPTIONS AND RSUs OUTSTANDING | OPTIONS AND RSUs EXERCISABLE | ||||||||||||||||
RANGE OF | NUMBER | WEIGHTED- | WEIGHTED- | NUMBER | WEIGHTED- | WEIGHTED- | |||||||||||
EXERCISE | OUTSTANDING | AVERAGE | AVERAGE | OUTSTANDING | AVERAGE | AVERAGE | |||||||||||
PRICE | AT | REMAINING | EXERCISE | AT | REMAINING | EXERCISE | |||||||||||
$ | DECEMBER 31, | CONTRACTUAL | PRICE | DECEMBER 31, | CONTRACTUAL | PRICE | |||||||||||
2013 | LIFE | 2013 | LIFE | ||||||||||||||
0.01 | 28,002 | * | 6.4 | $ | 0.01 | - | - | - | |||||||||
1.59 – 2.00 | 466,624 | 0.9 | $ | 1.94 | 466,624 | 0.9 | $ | 1.94 | |||||||||
2.42 – 4.43 | 345,770 | 1.6 | $ | 3.19 | 345,770 | 1.6 | $ | 3.19 | |||||||||
5.16 – 6.77 | 222,690 | 2.9 | $ | 5.65 | 206,232 | 2.8 | $ | 5.63 | |||||||||
7.06 – 7.48 | 1,252,601 | 5.9 | $ | 7.23 | 278,664 | 3.4 | $ | 7.07 | |||||||||
8.12 – 8.41 | 498,500 | 4.9 | $ | 8.25 | 191,750 | 3.3 | $ | 8.15 | |||||||||
9.48 – 9.71 | 454,333 | 4.3 | $ | 9.54 | 288,750 | 4.3 | $ | 9.54 | |||||||||
11.24 - 12.98 | 331,666 | 4.5 | $ | 12.76 | 168,541 | 3.9 | $ | 12.55 | |||||||||
3,600,186 | 1,946,330 | ||||||||||||||||
*RSUs | |||||||||||||||||
As of December 31, 2013, the aggregate intrinsic value for the options exercisable was $4.5 million with a weighted-average remaining contractual life of 2.6 years. Additionally, there were 1.6 million options expected to vest with a weighted-average exercise price of $8.1 and an aggregate intrinsic value of $0.4 million with a weighted-average remaining contractual life of 6 years. | |||||||||||||||||
The weighted average fair value of options exercisable as of the years ended December 31, 2013, 2012 and 2011 was $3.3, $2.6 and $2.32 respectively. | |||||||||||||||||
The aggregate intrinsic value for the options exercised during 2013, 2012 and 2011 was $3.9 million, $1.9 million and $4.6 million respectively. | |||||||||||||||||
E. | Stock-based compensation expenses | ||||||||||||||||
The following table summarizes the effects of stock-based compensation resulting from the application of ASC 718 included in the Statements of Operations for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Cost of revenues | $ | 357 | $ | 312 | $ | 202 | |||||||||||
Research and development expenses | 292 | 254 | 168 | ||||||||||||||
Selling and marketing expenses | 750 | 611 | 389 | ||||||||||||||
General and administrative expenses | 1,345 | 1,357 | 972 | ||||||||||||||
Total | $ | 2,744 | $ | 2,534 | $ | 1,731 | |||||||||||
The unrecognized stock-based compensation cost calculated under the fair value method for shares incentives expected to vest (unvested shares net of expected forfeitures) as of December 31, 2013 was approximately $6.1 million and is expected to be recognized over a weighted-average period of 2.2 years. | |||||||||||||||||
Under ASC 718, the fair market value of each option grant is estimated on the date of grant using the "Black-Scholes option pricing" method with the following weighted-average assumptions: (1) expected life of 4.8 years (2012 – 4.8, 2011 – 4.7); (2) dividend yield of 1.9% (2012 – 3.2%, 2011 – 3.4%); (3) expected volatility of 55% (2012 – 57%, 2011 – 61%); and (4) risk-free interest rate of 1.9% (2012 – 1.4%, 2011 – 2.5%). | |||||||||||||||||
F. Dividend | |||||||||||||||||
During 2011, the Company declared a cash dividend to its shareholders in the amount of $10 million ($0.32 per share). During 2011 the Company distributed a cash dividend of $7.5 million ($0.24 per share). | |||||||||||||||||
During 2012, the Company declared a cash dividend to its shareholders in the amount of $7.5 million ($0.24 per share) and distributed a cash dividend of $10 million ($0.32 per share). | |||||||||||||||||
During 2013, the Company declared a cash dividend to its shareholders in the amount of $6.7 million ($0.21 per share) and distributed a cash dividend of $6.7 million ($0.21 per share). | |||||||||||||||||
SEGMENT_REPORTING
SEGMENT REPORTING | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||
NOTE 13 — SEGMENT REPORTING | |||||||||||||
The Company operates in one segment: the design, development, and marketing of software solutions. | |||||||||||||
The Company's revenues by geographic area are as follows: | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenue | |||||||||||||
Americas | $ | 50,573 | $ | 60,123 | $ | 40,070 | |||||||
EMEA | 42,548 | 32,888 | 39,455 | ||||||||||
Israel | 245 | 456 | 847 | ||||||||||
Asia Pacific | 9,815 | 6,579 | 6,715 | ||||||||||
$ | 103,181 | $ | 100,046 | $ | 87,087 | ||||||||
Major customers - as percentage of total sales: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
% | % | % | |||||||||||
Customer A | 12 | 11 | 12 | ||||||||||
Customer B | (*) | (*) | 10 | ||||||||||
(*) Less than 10% | |||||||||||||
Long-lived assets by geographical areas are as follows: | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Property and Equipment, Net | |||||||||||||
Americas | $ | 795 | $ | 662 | |||||||||
EMEA | 634 | 421 | |||||||||||
Asia Pacific | 1,145 | 411 | |||||||||||
Israel | 2,449 | 2,712 | |||||||||||
$ | 5,023 | $ | 4,206 | ||||||||||
TAXES_ON_INCOME_TAX_BENEFIT
TAXES ON INCOME (TAX BENEFIT) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||
NOTE 14 –TAXES ON INCOME (TAX BENEFIT) | |||||||||||||
A. Company | |||||||||||||
Part of the Company's investment in equipment has received approvals ("Approved Enterprise" status) in accordance with the Law for the Encouragement of Capital Investments, 1959 (the "Investment Law"). The Company has chosen to receive its benefits through the "Alternative Benefits" track, and, as such, is eligible for various benefits. These benefits include accelerated depreciation of fixed assets used in the investment program, as well as a full tax exemption on undistributed income in relation to income derived from the first plan for a period of 2 years and for the second and third plans for a period of 4 years. Thereafter tax rate of 25% will be applicable for an additional period of up to 5 years for the first plan and 3 years for the second and third plans, commencing with the date on which taxable income is first earned but not later than certain dates. In the case of foreign investment of more than 25%, the tax benefits are extended to 10 years, and in the case of foreign investment ranging from 49% to 100% the tax rate is reduced on a sliding scale to 10%. The benefits are subject to the fulfillment of the conditions of the letter of approval. The first, second and third plans benefit periods have already expired. | |||||||||||||
On April 1, 2005, an amendment to the Investment Law came into effect ("the Amendment") that significantly changed the provisions of the Investment Law. The Amendment limits the scope of enterprises which may be approved by the Investment Center by setting criteria for the approval of a facility as a Privileged Enterprise, such as provisions generally requiring that at least 25% of the Privileged Enterprise's Income will be derived from export. Additionally, the Amendment enacted major changes in the manner in which tax benefits are awarded under the Investment Law so that companies no longer require Investment Center approval in order to qualify for tax benefits. However, the Investment Law provides that terms and benefits included in any certificate of approval already granted will remain subject to the provisions of the law as they were on the date of such approval. Therefore, the Israeli companies with Approved Enterprise status will generally not be subject to the provisions of the Amendment. As a result of the amendment, tax-exempt income generated under the provisions of the new law, will subject the Company to taxes upon distribution or liquidation. Plans four, five and six are under Privileged Enterprise. | |||||||||||||
The benefit periods for plans one, two and three have expired. | |||||||||||||
In 2006, the Company received approval under the Amendment to its Fourth plan as a Privileged Enterprise. The commencement year was 2004. 2011 is the first year the Company generated income subject to the provisions of the new law. The expected expiration year is 2015. | |||||||||||||
In 2007, the Company received approval under the Amendment to its Fifth plan as a Privileged Enterprise. The commencement year was 2006. 2011 is the first year the Company generated income subject to the provision of the new law. The expected expiration year is 2017. | |||||||||||||
In 2008, the Company received approval under the Amendment to its sixth plan as a Privileged Enterprise. The commencement year was 2008. 2011 is the first year the Company generated income subject to the provision of the new law. The expected expiration year is 2019. | |||||||||||||
The entitlement to the above benefits is conditional upon the Company fulfilling the conditions stipulated by the above law, regulations published thereunder and the instruments of approval for the specific investments in "Approved Enterprises". In the event of failure to comply with these conditions, the benefits may be canceled and the Company may be required to refund the amount of the benefits, in whole or in part, including interest. | |||||||||||||
Income not eligible for "Approved Enterprise" benefits mentioned above is taxed in 2013 at a regular rate of 25%. | |||||||||||||
In the event of distribution by the Company of a cash dividend out of retained earnings that were tax exempt due to its Approved Enterprise status, the Company would have to pay corporate tax of 10% - 25% on the income from which the dividend was distributed based on the extent to which non-Israeli shareholders hold Company’s shares. A 15% withholding tax may be deductible from dividends distributed to the recipients. | |||||||||||||
From 2011 the Company has earnings attributable to Approved Enterprise programs. | |||||||||||||
During the years 2011 and 2012, the Company distributed dividends in the aggregate amount of $17.5 million. Such distributions were paid from the parent company earnings which were not derived from Approved Enterprises earnings, and as such did not result in additional Israeli tax liabilities for the Company. | |||||||||||||
In November 2012, a law was enacted in Israel to incentivize companies to pay taxes on those Approved Enterprises earnings as if distributed, and effectively release the earnings from any further tax liabilities at the parent company level. The law, although not mandatory, offers lower tax rates on those earnings, accumulated through the year ended December 31, 2011, elected to be "released" which as applicable to the Company will be approximately 6%. During 2013, the Company elected to use the incentive available under the law, releasing 2011 tax-exempt earnings of $12.2 million for future dividend distributions, by paying tax of $0.7 million. The Company distributed during 2013 a dividend in the amount of $6.7 million. Part of this dividend was under the release of 2011 tax-exempt earnings, and therefore, although paid from Approved Enterprises earnings, such distribution did not result in additional Israeli tax liability. Deferred tax provision was included in the Company financial statements for the year ended December 31, 2012. | |||||||||||||
Except for 2011 Approved Enterprise profits as explained above, the Company has not provided deferred taxes on future distributions of tax-exempt earnings, as management and the board of directors have not yet determined to pay any dividend in the future from those earnings. Accordingly, such earnings have been considered to be permanently reinvested. | |||||||||||||
In 2011, new legislation amending to the Investment Law was adopted (the “2011 Amendment”). Under the 2011 Amendment, a uniform corporate tax rate will apply to all qualifying income of certain Industrial Companies (requirement of a minimum export of 25% of the company's total turnover), as opposed to the current law's incentives, which are limited to income from Approved Enterprises during their benefits period. Under the 2011 Amendment, the uniform tax rate will be 10% in areas in Israel designated as Development Zone A and 15% elsewhere in Israel during 2011-2012, in 2013 7% and 12.5%, respectively and from 2014, 9% and 16%, respectively. The profits of these Industrial Companies will be freely distributable as dividends, subject to a 15% (20% from 2014) withholding tax (or lower, under an applicable tax treaty). | |||||||||||||
Under the transition provisions of the 2011 Amendment, the Company may decide to irrevocably implement the provisions of the 2011 Amendment while waiving benefits provided under the current law or to remain subject to the current law. | |||||||||||||
Changing from the current law to the 2011 Amendment is permitted at any time. The Company does not expect the 2011 Amendment to have material ramifications on the tax payable in respect of its Israeli operations. The Company chose to adopt the 2011 Amendment during 2013 and a request for approval is pending with the tax authorities. | |||||||||||||
B. Tax assessments | |||||||||||||
Final tax assessments in Israel have been received up to and including the 2011 tax year. | |||||||||||||
C. Deferred taxes | |||||||||||||
Deferred tax assets, net consist of the following significant items: | |||||||||||||
DECEMBER 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Net operating loss carry forwards of non-Israeli subsidiaries | $ | 7,249 | $ | 7,360 | |||||||||
Net operating loss carry forwards In Israel* | 768 | - | |||||||||||
R&D cost temporary differences | 991 | 984 | |||||||||||
Other timing differences | 2,016 | 1,628 | |||||||||||
Deferred liability due to future dividend from 2012 Approved Enterprise | - | -735 | |||||||||||
Deferred tax assets before valuation allowance | 11,024 | 9,237 | |||||||||||
Valuation allowance | -7,264 | -7,787 | |||||||||||
Deferred tax assets, net of allowance | $ | 3,760 | $ | 1,450 | |||||||||
* Based on 16% tax rate for 2014 | |||||||||||||
Presentation in balance sheets: | |||||||||||||
DECEMBER 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Current deferred tax asset, net | $ | 1,740 | $ | 220 | |||||||||
Non-current deferred tax asset, net | 2,060 | 1,230 | |||||||||||
Non-current deferred tax liability, net | -40 | - | |||||||||||
$ | 3,760 | $ | 1,450 | ||||||||||
Under ASC 740 ("Income Taxes"), deferred tax assets, net are to be recognized for the anticipated tax benefits associated with net operating loss carry-forwards and deductible temporary differences; unless it is more-likely-than-not that some or all of the deferred tax assets will not be realized. The adjustment is made by a valuation allowance. Since in previous years the realization of the net operating loss carry-forwards and deductible temporary differences was less likely than not, a valuation allowance has been established for the full amount of the tax benefits. For 2008, based on historical taxable income from continuing operations and projections for future taxable income, the Company determined that it is more likely than not that some of its deferred tax assets are expected to be realized, and reversed part of the valuation allowance. The reversal of the valuation allowance and other adjustments to the deferred tax assets resulted in the recognition of tax Benefit of $2,310 and $540 in 2013 and 2012, respectively. | |||||||||||||
As of December 31, 2013, net operating loss carry forwards in Israel amounted to approximately $4.8 million and in U.S. $18.6 million attributable to the federal tax and approximately $5.9 million attributable to state tax. The tax loss carry-forwards in the U.S. expire from 2014 through 2024. Utilization of U.S. net operating losses would be subject to substantial annual limitations due to the "change in ownership" provisions of the Internal Revenue Code of 1986 and similar state law provisions. The annual limitations would result in the expiration of part of net operating losses before utilization. There are no material other tax loss carry-forwards in other companies in the group. | |||||||||||||
Deferred tax has not been provided on the following items: | |||||||||||||
(1) Taxes that would apply in the event of disposal of investments in subsidiaries, as it is generally the Company’s intention to hold these investments, not to realize them. | |||||||||||||
(2) As for the year ended December 31, 2013, the amount of earnings subject to additional taxes for which deferred taxes were not provided was $16.1 million and the potential tax liability was in the amount of $2.4 million. The Company may avoid the tax liability if distribution is not made or is made from resources other than earnings from Approved Enterprises with those earnings permanently reinvested. The Company has not provided deferred taxes, as management and the board of directors have not yet determined to pay any dividend from these earnings in the future. Accordingly, such earnings have been considered to be permanently reinvested. | |||||||||||||
(3) Dividends distributable from the income of foreign subsidiaries in the Group, as the Company does not expect these subsidiaries to distribute dividends from currently accumulated profits with tax costs in the foreseeable future. If these dividends were to be paid, the Company would have to pay additional taxes of about $0.2 million on the distribution, and the amount would be recorded as an income tax expense in the period the dividend is declared. | |||||||||||||
D. Israel and International components of income profit before taxes | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Israel | $ | -10,274 | $ | 4,482 | $ | 13,330 | |||||||
International | 5,190 | 3,175 | 1,342 | ||||||||||
$ | -5,084 | $ | 7,657 | $ | 14,672 | ||||||||
E. Income taxes included in the statement of operations | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current taxes | $ | 642 | $ | 709 | $ | 1,152 | |||||||
Tax payment for previous years retained earnings (*) | 744 | - | - | ||||||||||
Deferred taxes | -2,310 | -540 | 1,310 | ||||||||||
$ | -924 | $ | 169 | $ | 2,462 | ||||||||
(*) See Note 14.A above | |||||||||||||
F. Tax reconciliation | |||||||||||||
The following is a reconciliation of the theoretical tax expense, assuming that all income is taxed at the ordinary statutory average corporate tax rate in Israel and other jurisdictions and the actual tax expense in the statement of operations, is as follows: | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net (loss) income before taxes | $ | -5,084 | $ | 7,657 | $ | 14,672 | |||||||
Average Statutory tax rates | 22 | % | 28 | % | 27 | % | |||||||
Theoretical tax | -1,118 | 2,144 | 3,961 | ||||||||||
Change in taxes resulting from effect of “privileged enterprise” status | 2,569 | -1,120 | -3,266 | ||||||||||
Non-deductible expenses | 577 | 1,235 | -641 | ||||||||||
Change in valuation allowance and deferred taxes | -2,887 | -1,775 | 1,951 | ||||||||||
Other | -65 | -315 | 457 | ||||||||||
194 | -1,975 | -1,499 | |||||||||||
Actual tax (benefit) expense | $ | -924 | $ | 169 | $ | 2,462 | |||||||
G. Uncertain tax positions | |||||||||||||
As of December 31, 2013, the Company maintains 3 uncertain tax positions accruals in the amounts of $ 383, $256 and $117. | |||||||||||||
As of December 31, 2012, the Company maintained 4 uncertain tax positions accruals in the amounts of $367, $555, $178 and $19. | |||||||||||||
The Company believes that it has adequately provided for any reasonably foreseeable outcomes related to tax audits and settlement. The final tax outcome of its tax audits could be different from that which is reflected in the Company’s income tax provisions and accruals. Such differences could have a material effect on the Company’s income tax provision and net income in the period in which such determination is made. | |||||||||||||
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
NOTE 15 – SUBSEQUENT EVENTS | |
On March 4, 2014 the Company closed the acquisition of Xora, Inc., a cloud-based market leader in mobile workforce management, by merger. Under the terms of the merger agreement, the consideration for the transaction is approximately $15 million in cash, including working capital and cash adjustments. | |
SIGNIFICANT_ACCOUNTING_POLICIE1
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of presentation | |
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States. | |
Consolidation, Policy [Policy Text Block] | ' |
Principles of consolidation | |
The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries in the United States (ClickSoftware, Inc. a wholly owned subsidiary of ClickSoftware Europe Limited), in the United Kingdom (ClickSoftware Europe Limited), in Germany (ClickSoftware Central Europe, GmbH), in Belgium (ClickSoftware Belgium, N.V.), in Australia (ClickSoftware Australia Pty. Ltd., a wholly owned subsidiary of ClickSoftware, Inc.), in Japan (ClickSoftware Japan KK), in India (ClickSoftware India Private Limited), in South Africa (ClickSoftware Technologies (Pty) Ltd), in Brazil (ClickSoftware Brazil Soluções em Gestão de Forças de Trabalho Ltda) and in Russia (ClickSoftware Limited Liability Company). The subsidiaries are primarily engaged in the sale and marketing of the Company's products in the Americas, EMEA (Europe, Middle East and Africa but not including Israel) and the rest of the world. All significant intercompany balances and transactions have been eliminated. | |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' |
Financial statements in U.S. dollars | |
The reporting currency of the Company is the U.S. dollar ("dollar"). The dollar is the functional currency of the Company and its subsidiaries. Transactions and balances originally denominated in dollars are presented at their original amounts. Non-dollar transactions and balances are remeasured into dollars in accordance with the principles set forth in ASC 830 ("Foreign Currency Matters"). All exchange gains and losses from translation of monetary balance sheet items resulting from transactions in non-dollar currencies are recorded in the statement of operations as they arise. | |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities 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. Actual results could differ from those estimates. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash and cash equivalents | |
Cash equivalents include short-term, highly liquid investments that are readily convertible to cash, with original maturities of three months or less. | |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' |
Concentration of credit risk | |
Financial instruments, which potentially subject the Company to credit risk, consist principally of cash instruments and accounts receivable. The Company maintains cash and cash equivalents and investments with major financial institutions in the United States, Europe and Israel. Nearly all of the cash and investments are not insured by the FDIC or other similar governmental insurance limits. The accounts receivable are derived from sales to a large number of customers, mainly large industrial corporations and their suppliers located mainly in Europe, the United States and Brazil. The Company generally does not require collateral. The Company performs ongoing credit evaluations of its customers and maintains an allowance for doubtful accounts which management believes adequately covers all anticipated losses in respect of trade receivables. | |
Short Term Bank Deposits [Policy Text Block] | ' |
Short term bank deposits | |
Bank deposits with maturities of more than three months but less than one year are included in short-term deposits. | |
Marketable Securities, Policy [Policy Text Block] | ' |
Marketable securities | |
Securities classified as available-for-sale are reported at fair value with unrealized gains and losses, net of related tax, recorded as a separate component of other comprehensive income in equity until realized. Unrealized losses that are considered to be other-than-temporary are charged to statement of operations as an impairment charge and are included in the consolidated statement of operations under financial expenses. Realized gains and losses on sales of the securities, as well as premium or discount amortization, are included in the consolidated statement of operations as financial income or expenses. | |
Fair values for marketable securities were determined using the quoted prices in active market for identical asset (level 1). | |
Property, Plant and Equipment, Policy [Policy Text Block] | ' |
Property and equipment | |
Property and equipment is stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, ranging from 3 to 16 years. Leasehold improvements are amortized using the straight-line method, over the shorter of the lease term or the useful lives of the improvements. | |
The Company complies with provisions of ASC 360 ("Property, Plant and Equipment"). ASC 360 requires that long-lived assets and certain identifiable intangible assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. | |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | ' |
Identifiable Intangible Assets | |
Intangible assets representing primarily core technology and in process research and development ("IPR&D"), customer lists and relationships and non-competition arrangements (arising from business combinations) are recorded at cost less accumulated amortization as outlined in Note 8. Intangible assets are amortized over their estimated useful lives on a straight-line basis ranging from 3 to 6 years. As of December 31, 2013 the balance is fully amortized or impaired. | |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | ' |
Goodwill | |
Goodwill represents the excess purchase price paid by the Company over the fair value of identifiable intangible assets as a result of purchasing a business. Goodwill is not amortized but instead is tested for impairment annually or more frequently if events or changes in circumstances indicate that it may be impaired. Goodwill impairment testing is a two-step process and may be preceded by a qualitative impairment assessment. Qualitative impairment assessment should be made to changes in circumstances and events indicating whether some of the intangible assets were impaired. When determined, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the two-step impairment test would be required. The first step involves comparing the fair value of a company’s reporting units to their carrying amount. If the fair value of the reporting unit is determined to be greater than its carrying amount, there is no impairment. If the reporting unit’s carrying amount is determined to be greater than the fair value, the second step must be completed to measure the amount of impairment, if any. Step two calculates the implied fair value of goodwill by deducting the fair value of all tangible and intangible assets, excluding goodwill, of the reporting unit from the fair value of the reporting unit as determined in step one. The implied fair value of the goodwill in this step is compared to the carrying value of goodwill. If the implied fair value of the goodwill is less than the carrying value of the goodwill, an impairment loss equivalent to the difference is recorded. | |
Research, Development, and Computer Software, Policy [Policy Text Block] | ' |
Software research and development costs | |
Software research and development costs incurred prior to the establishment of technological feasibility are included in research and development expenses. The Company defines establishment of technological feasibility as the completion of a working model. Software development costs incurred subsequent to the establishment of technological feasibility through the period of general market availability of the products are capitalized, if material, after consideration of various factors, including net realizable value. To date, software development costs that are eligible for capitalization have not been material and have been expensed. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
Revenue recognition | |
The Company recognizes revenues in accordance with the ASC 985-605 ("Software Revenue Recognition"). | |
In accordance with ASC 985-605, revenues from software license fees are recognized when persuasive evidence of an arrangement exists, the software product covered by written agreement or a purchase order signed by the customer has been delivered, the license fees are fixed and determinable, collection of the license fees is considered probable and vendor-specific objective evidence (VSOE) of the fair value of undelivered elements exists. | |
License fees from software arrangements that involve multiple elements, such as consulting, training and post-contract customer support, are allocated to each element of the arrangement based on the residual method. Under the residual method, consideration is allocated to undelivered elements based upon the VSOE of those elements, with the residual of the arrangement fee allocated to and recognized as software license revenue. The Company measures the VSOE for each element according to the price charged when the element is sold separately. For post-contract customer support, the Company determines the VSOE based on the renewal price charged. For other services, such as consulting and training, the Company determines the VSOE based on the fixed hourly/daily rate charged in stand-alone service transactions. | |
Arrangements that include professional services are evaluated to determine whether those services are essential to the functionality of other elements of the arrangement. When services are considered essential, revenue under the arrangement is recognized using contract accounting. When services are not considered essential, revenue allocable to the services is recognized as the services are performed. | |
Revenue from software licenses that require significant customization, integration and implementation are recognized based on ASC 605-35 ("Construction-Type and Production-Type Contracts") using contract accounting on the percentage-of-completion method, based on the relationship of actual working hours incurred to total working hours estimated to be incurred over the duration of the contract. In recognizing revenues based on the percentage-of-completion method, the Company estimates time to completion with revisions to estimates reflected in the period in which changes become known. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are first determined, in the amount of the estimated loss on the entire contract. | |
Service revenues are comprised of revenues from consulting, training, and post-contract customer support. Revenues from consulting services are recognized on a time and material basis, or in a fixed price contract, on a percentage of completion basis. Revenues from training are recognized as the services are provided. Post-contract customer support arrangements provide for technical support and the right to unspecified updates on an if-and-when-available basis. Revenues from these arrangements are recognized ratably over the term of the arrangement, usually one year. | |
The Company classifies revenue as either software license revenue or services revenue for statement of operations presentation. The Company allocates revenue to each of these categories based on the VSOE for elements in each revenue arrangement and based on the application of the residual method for arrangements in which the Company has established the VSOE for all undelivered elements. Where the Company is unable to establish the VSOE for all undelivered elements, the Company takes a systematic approach, whereby the Company first allocates revenue to any undelivered elements for which the VSOE has been established, and then allocates revenue to any undelivered elements for which the VSOE has not been established based on management's best estimate of the fair value of those undelivered elements. The Company then applies a residual method to determine the license fee. Management's best estimate of fair value of undelivered elements for which the VSOE has not been established is based upon the VSOE of similar offerings and other objective criteria. | |
Earnings Per Share, Policy [Policy Text Block] | ' |
Basic and diluted net income per share | |
Basic and diluted net income per share are presented in conformity with ASC 260 ("Earnings per Share") for all years presented. Basic net income per share have been computed using the weighted-average number of ordinary shares outstanding during the year, net of treasury shares (see Note 12). In computing diluted earnings (loss) per share, the potential dilutive effect of outstanding equity awards is taken into account using the treasury stock method. | |
Outstanding share options and shares issued and reserved for outstanding share options have been excluded from the calculation of basic and diluted net income per share to the extent such securities are anti-dilutive. The total number of options to purchase shares, excluded from the calculations of diluted net income per share, were 3,600,186, 1,242,416 and 497,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
Fair value of financial instruments | |
The financial instruments of the Company consist mainly of cash and cash equivalents, short-term and long-term investments, current accounts receivable, marketable securities and accounts payable. In view of their nature, the fair value of the financial instruments included in working capital of the Company (other than marketable securities) is usually identical or close to their carrying amounts. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' |
Stock-based compensation | |
ASC 718 ("Compensation – Stock Compensation") requires that compensation cost relating to share-based payment awards made to employees and directors be recognized in the financial statements. The main awards issued under Company stock-based compensation plans, which are described in Note 12D, "Employee, Directors, and Consultant Option Plans", include stock options and RSUs. The cost for such awards is measured at the grant date based on the calculated fair value of the award. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods (generally the vesting period of the equity award) reduced by estimated forfeitures in the Company Consolidated Statement of Operations. | |
Income Tax, Policy [Policy Text Block] | ' |
Income taxes | |
The Company accounts for income taxes, in accordance with the provisions of ASC 740 ("Income Taxes,") under the liability method of accounting. Under the liability method, deferred taxes are determined based on the differences between the financial statement and tax basis of assets and liabilities at enacted tax rates in effect in the year in which the differences are expected to reverse. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts expected to be realized. | |
Deferred tax liabilities and assets are classified as current or non-current based on the classification of the related asset or liability for financial reporting or, if not related to an asset or liability for financial reporting, according to the expected reversal dates of the specific temporary differences. | |
For uncertain tax positions, the Company follows a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate resolution. The Company’s policy is to include interest and penalties related to unrecognized tax benefits within income tax expense. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recent accounting pronouncements | |
In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires companies to disclose significant amounts that have been reclassified out of accumulated other comprehensive income. Amounts that are required to be reclassified in their entirety to net income must be disclosed either on the face of the income statement or in the notes to the financial statements. Amounts that are not required to be reclassified in their entirety to net income in the same reporting period must be disclosed by a cross reference to other disclosures that provide additional information regarding such amounts. ASU No. 2013-02 is effective for fiscal years and interim periods beginning after December 15, 2012. The adoption of ASU No. 2013-02 has not had a material impact on the Company’s financial position or results of operations. | |
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides explicit guidance on the financial statement presentation of an unrecognized tax benefit. ASU No. 2013-11 requires unrecognized tax benefits to be presented as a reduction to a deferred tax asset, except that, if a net operating loss carryforward, a similar tax loss or a tax credit carryforward is not available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position, then the unrecognized tax benefit should be presented as a liability. ASU No. 2013-11 has become effective for fiscal years and interim periods beginning after December 15, 2013. The adoption of ASU No. 2013-11 has not had a material impact on the Company’s financial position or results of operations. | |
SHORTTERM_DEPOSITS_AND_MARKETA1
SHORT-TERM DEPOSITS AND MARKETABLE SECURITIES (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Short Term Deposits and Marketable Securities [Abstract] | ' | |||||||
Short Term Deposits and Marketable Securities [Table Text Block] | ' | |||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Bank deposits (1) | $ | 9,001 | $ | 30,310 | ||||
Marketable securities - government and corporate bonds (2) | 15,203 | 10,600 | ||||||
Marketable securities - equities(3) | 7,383 | 5,035 | ||||||
$ | 31,587 | $ | 45,945 | |||||
(1) The bank deposits bear interest at an average annual rate of 2.1% and 1.3% for 2013 and 2012, respectively. | ||||||||
(2) The Bonds provide a yield at an average annual rate of 1.5% and 1.55% for 2013 and 2012, respectively. | ||||||||
(3) Unrealized net gains are immaterial. | ||||||||
TRADE_RECEIVABLES_AND_ALLOWANC1
TRADE RECEIVABLES AND ALLOWANCE FOR DOUBTFUL ACCOUNTS (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Trade Receivables and Allowance For Doubtful Accounts [Abstract] | ' | |||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||
A. | Trade receivables | |||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Accounts receivables billed | $ | 20,190 | $ | 18,847 | ||||
Accounts receivables unbilled | 2,800 | 3,683 | ||||||
Allowance for doubtful accounts | -500 | -738 | ||||||
Trade receivables, net | $ | 22,490 | $ | 21,792 | ||||
Schedule Of Allowance For Doubtful Accounts [Table Text Block] | ' | |||||||
B. | Allowance for doubtful accounts | |||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Balance at beginning of year | $ | 738 | $ | 701 | ||||
Change of allowance | -97 | 37 | ||||||
Write-off | -141 | - | ||||||
Balance at year end | $ | 500 | $ | 738 | ||||
OTHER_RECEIVABLES_AND_PREPAID_1
OTHER RECEIVABLES AND PREPAID EXPENSES (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Prepaid Expense and Other Assets [Abstract] | ' | |||||||
Schedule of Other Assets [Table Text Block] | ' | |||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Prepaid expenses | $ | 1,675 | $ | 1,890 | ||||
Government receivables | 1,533 | 616 | ||||||
Employees | 467 | 198 | ||||||
Other | 951 | 969 | ||||||
$ | 4,626 | $ | 3,673 | |||||
Other receivables and prepaid expenses – Short term | $ | 4,408 | $ | 3,398 | ||||
Other receivables and prepaid expenses – Long term | 218 | 275 | ||||||
$ | 4,626 | $ | 3,673 | |||||
LONGTERM_DEPOSITS_Tables
LONG-TERM DEPOSITS (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Long-Term Investments [Abstract] | ' | |||||||
Schedule Of Deposits [Table Text Block] | ' | |||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Bank deposits (see also Note 11A) | $ | 1,072 | $ | 621 | ||||
$ | 1,072 | $ | 621 | |||||
The bank deposits bear interest at an average annual rate of 2.1% and 1.3% for 2013 and 2012, respectively. | ||||||||
GOODWILL_AND_OTHER_INTANGIBLE_1
GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||
Schedule of Goodwill [Table Text Block] | ' | |||||||||
A. | Goodwill: | |||||||||
DECEMBER 31, | ||||||||||
2013 | 2012 | |||||||||
Balance as of January 1 | $ | 1,572 | $ | 1,572 | ||||||
Changes during year: | ||||||||||
Impairment | - | - | ||||||||
Balance as of December 31 | $ | 1,572 | $ | 1,572 | ||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | |||||||||
B. | Identifiable intangible assets, Net: | |||||||||
DECEMBER 31, | ||||||||||
Useful life | 2013 | 2012 | ||||||||
Original amount | ||||||||||
Core technology | 3-6 years | $ | 1,507 | $ | 1,507 | |||||
In process research & development | 4 years | 472 | 472 | |||||||
Customer relationship, net of impairment (see C below) | 3-6 years | 1,007 | 1,007 | |||||||
Non-compete | 4 years | 127 | 127 | |||||||
$ | 3,113 | $ | 3,113 | |||||||
Accumulated amortization | 3,113 | 2,661 | ||||||||
Identifiable intangible assets, Net | $ | - | $ | 452 | ||||||
PROPERTY_AND_EQUIPMENT_NET_Tab
PROPERTY AND EQUIPMENT, NET (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Cost | ||||||||
Computers and office equipment | $ | 10,928 | $ | 8,645 | ||||
Leasehold improvements | 2,992 | 2,502 | ||||||
$ | 13,920 | $ | 11,147 | |||||
Accumulated depreciation | 8,897 | 6,941 | ||||||
Property and equipment, net | $ | 5,023 | $ | 4,206 | ||||
ACCOUNTS_PAYABLE_AND_ACCRUED_E1
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | |||||||
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | ' | |||||||
DECEMBER 31, | ||||||||
2013 | 2012 | |||||||
Suppliers | $ | 4,720 | $ | 5,392 | ||||
Employee and related costs | 9,235 | 8,598 | ||||||
Government commitment | 3,752 | 2,546 | ||||||
$ | 17,707 | $ | 16,536 | |||||
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||
Minimum future rental payments, as of December 31, 2013 are as follows: | |||||
2014 | $ | 3,783 | |||
2015 | 2,127 | ||||
2016 | 1,615 | ||||
2017-2021 | 1,648 | ||||
$ | 9,173 | ||||
SHAREHOLDERS_EQUITY_Tables
SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
A summary of the status of the Company's stock option plans as of December 31, 2013, 2012 and 2011 and changes during the years then ended is as follows: | |||||||||||||||||
OPTIONS AND | OUTSTANDING | WEIGHTED | WEIGHTED | ||||||||||||||
RSUs | OPTIONS AND | -AVERAGE | -AVERAGE | ||||||||||||||
AVAILABLE | RSUs | EXERCISE | FAIR | ||||||||||||||
FOR GRANT | PRICE PER | VALUE OF | |||||||||||||||
SHARE ($) | OPTION | ||||||||||||||||
Outstanding at December 31, 2010 | 2,528,737 | 3,248,120 | 3.31 | ||||||||||||||
Increase in option pool, net | 800,000 | - | - | ||||||||||||||
Granted | -554,000 | 554,000 | 8.71 | $ | 5.17 | ||||||||||||
Forfeited | 45,650 | -45,650 | 6.14 | ||||||||||||||
Exercised | - | -734,661 | 2.07 | ||||||||||||||
Outstanding at December 31, 2011 | 2,820,387 | 3,021,809 | 4.56 | ||||||||||||||
Increase in option pool, net | 516,691 | - | - | ||||||||||||||
Granted | -794,000 | 794,000 | 10.38 | $ | 5.2 | ||||||||||||
Forfeited | 89,331 | -89,331 | 10.04 | ||||||||||||||
Exercised | - | -286,054 | 2.21 | ||||||||||||||
Outstanding at December 31, 2012 | 2,632,409 | 3,440,424 | 5.96 | ||||||||||||||
Increase in option pool, net | 800,000 | - | - | ||||||||||||||
Granted | -1,241,000 | 1,241,000 | 7.25 | $ | 3.64 | ||||||||||||
Forfeited | 241,605 | -241,605 | 8.52 | ||||||||||||||
Exercised | - | -839,633 | 2.38 | ||||||||||||||
Outstanding at December 31, 2013 | 2,433,014 | 3,600,186 | 6.95 | ||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||||
The following table summarizes information about options outstanding and exercisable as of December 31, 2013: | |||||||||||||||||
OPTIONS AND RSUs OUTSTANDING | OPTIONS AND RSUs EXERCISABLE | ||||||||||||||||
RANGE OF | NUMBER | WEIGHTED- | WEIGHTED- | NUMBER | WEIGHTED- | WEIGHTED- | |||||||||||
EXERCISE | OUTSTANDING | AVERAGE | AVERAGE | OUTSTANDING | AVERAGE | AVERAGE | |||||||||||
PRICE | AT | REMAINING | EXERCISE | AT | REMAINING | EXERCISE | |||||||||||
$ | DECEMBER 31, | CONTRACTUAL | PRICE | DECEMBER 31, | CONTRACTUAL | PRICE | |||||||||||
2013 | LIFE | 2013 | LIFE | ||||||||||||||
0.01 | 28,002 | * | 6.4 | $ | 0.01 | - | - | - | |||||||||
1.59 – 2.00 | 466,624 | 0.9 | $ | 1.94 | 466,624 | 0.9 | $ | 1.94 | |||||||||
2.42 – 4.43 | 345,770 | 1.6 | $ | 3.19 | 345,770 | 1.6 | $ | 3.19 | |||||||||
5.16 – 6.77 | 222,690 | 2.9 | $ | 5.65 | 206,232 | 2.8 | $ | 5.63 | |||||||||
7.06 – 7.48 | 1,252,601 | 5.9 | $ | 7.23 | 278,664 | 3.4 | $ | 7.07 | |||||||||
8.12 – 8.41 | 498,500 | 4.9 | $ | 8.25 | 191,750 | 3.3 | $ | 8.15 | |||||||||
9.48 – 9.71 | 454,333 | 4.3 | $ | 9.54 | 288,750 | 4.3 | $ | 9.54 | |||||||||
11.24 - 12.98 | 331,666 | 4.5 | $ | 12.76 | 168,541 | 3.9 | $ | 12.55 | |||||||||
3,600,186 | 1,946,330 | ||||||||||||||||
*RSUs | |||||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | ||||||||||||||||
The following table summarizes the effects of stock-based compensation resulting from the application of ASC 718 included in the Statements of Operations for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Cost of revenues | $ | 357 | $ | 312 | $ | 202 | |||||||||||
Research and development expenses | 292 | 254 | 168 | ||||||||||||||
Selling and marketing expenses | 750 | 611 | 389 | ||||||||||||||
General and administrative expenses | 1,345 | 1,357 | 972 | ||||||||||||||
Total | $ | 2,744 | $ | 2,534 | $ | 1,731 | |||||||||||
SEGMENT_REPORTING_Tables
SEGMENT REPORTING (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Schedule Of Revenue By Geographical Areas [Table Text Block] | ' | ||||||||||||
The Company's revenues by geographic area are as follows: | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenue | |||||||||||||
Americas | $ | 50,573 | $ | 60,123 | $ | 40,070 | |||||||
EMEA | 42,548 | 32,888 | 39,455 | ||||||||||
Israel | 245 | 456 | 847 | ||||||||||
Asia Pacific | 9,815 | 6,579 | 6,715 | ||||||||||
$ | 103,181 | $ | 100,046 | $ | 87,087 | ||||||||
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | ' | ||||||||||||
Major customers - as percentage of total sales: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
% | % | % | |||||||||||
Customer A | 12 | 11 | 12 | ||||||||||
Customer B | (*) | (*) | 10 | ||||||||||
(*) Less than 10% | |||||||||||||
Schedule Of Long Lived Assets By Geographical Areas [Table Text Block] | ' | ||||||||||||
Long-lived assets by geographical areas are as follows: | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Property and Equipment, Net | |||||||||||||
Americas | $ | 795 | $ | 662 | |||||||||
EMEA | 634 | 421 | |||||||||||
Asia Pacific | 1,145 | 411 | |||||||||||
Israel | 2,449 | 2,712 | |||||||||||
$ | 5,023 | $ | 4,206 | ||||||||||
TAXES_ON_INCOME_TAX_BENEFIT_Ta
TAXES ON INCOME (TAX BENEFIT) (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
Deferred tax assets, net consist of the following significant items: | |||||||||||||
DECEMBER 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Net operating loss carry forwards of non-Israeli subsidiaries | $ | 7,249 | $ | 7,360 | |||||||||
Net operating loss carry forwards In Israel* | 768 | - | |||||||||||
R&D cost temporary differences | 991 | 984 | |||||||||||
Other timing differences | 2,016 | 1,628 | |||||||||||
Deferred liability due to future dividend from 2012 Approved Enterprise | - | -735 | |||||||||||
Deferred tax assets before valuation allowance | 11,024 | 9,237 | |||||||||||
Valuation allowance | -7,264 | -7,787 | |||||||||||
Deferred tax assets, net of allowance | $ | 3,760 | $ | 1,450 | |||||||||
* Based on 16% tax rate for 2014 | |||||||||||||
Schedule Of Current Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
Presentation in balance sheets: | |||||||||||||
DECEMBER 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Current deferred tax asset, net | $ | 1,740 | $ | 220 | |||||||||
Non-current deferred tax asset, net | 2,060 | 1,230 | |||||||||||
Non-current deferred tax liability, net | -40 | - | |||||||||||
$ | 3,760 | $ | 1,450 | ||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||||||
Israel and International components of income profit before taxes | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Israel | $ | -10,274 | $ | 4,482 | $ | 13,330 | |||||||
International | 5,190 | 3,175 | 1,342 | ||||||||||
$ | -5,084 | $ | 7,657 | $ | 14,672 | ||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
Income taxes included in the statement of operations | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current taxes | $ | 642 | $ | 709 | $ | 1,152 | |||||||
Tax payment for previous years retained earnings (*) | 744 | - | - | ||||||||||
Deferred taxes | -2,310 | -540 | 1,310 | ||||||||||
$ | -924 | $ | 169 | $ | 2,462 | ||||||||
(*) See Note 14.A above | |||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
The following is a reconciliation of the theoretical tax expense, assuming that all income is taxed at the ordinary statutory average corporate tax rate in Israel and other jurisdictions and the actual tax expense in the statement of operations, is as follows: | |||||||||||||
YEAR ENDED DECEMBER 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net (loss) income before taxes | $ | -5,084 | $ | 7,657 | $ | 14,672 | |||||||
Average Statutory tax rates | 22 | % | 28 | % | 27 | % | |||||||
Theoretical tax | -1,118 | 2,144 | 3,961 | ||||||||||
Change in taxes resulting from effect of “privileged enterprise” status | 2,569 | -1,120 | -3,266 | ||||||||||
Non-deductible expenses | 577 | 1,235 | -641 | ||||||||||
Change in valuation allowance and deferred taxes | -2,887 | -1,775 | 1,951 | ||||||||||
Other | -65 | -315 | 457 | ||||||||||
194 | -1,975 | -1,499 | |||||||||||
Actual tax (benefit) expense | $ | -924 | $ | 169 | $ | 2,462 | |||||||
SIGNIFICANT_ACCOUNTING_POLICIE2
SIGNIFICANT ACCOUNTING POLICIES (Details Textual) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Depreciation Methods | 'straight-line method | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '4 years | ' | ' |
Finite-Lived Intangible Assets, Amortization Method | 'straight-line basis | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,600,186 | 1,242,416 | 497,000 |
Leasehold Improvements [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Depreciation Methods | 'straight-line method | ' | ' |
Maximum [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '16 years | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '6 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '3 years | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' | ' |
SHORTTERM_DEPOSITS_AND_MARKETA2
SHORT-TERM DEPOSITS AND MARKETABLE SECURITIES (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Short Term Deposits and Marketable Securities [Line Items] | ' | ' | ||
Bank deposits | $9,001 | [1] | $30,310 | [1] |
Marketable Securities and Bank Deposits | 31,587 | 45,945 | ||
Equity [Member] | ' | ' | ||
Short Term Deposits and Marketable Securities [Line Items] | ' | ' | ||
Marketable securities | 7,383 | [2] | 5,035 | [2] |
Government and Corporate Bonds [Member] | ' | ' | ||
Short Term Deposits and Marketable Securities [Line Items] | ' | ' | ||
Marketable securities | $15,203 | [3] | $10,600 | [3] |
[1] | The bank deposits bear interest at an average annual rate of 2.1% and 1.3% for 2013 and 2012, respectively. | |||
[2] | Unrealized net gains are immaterial. | |||
[3] | The Bonds provide a yield at an average annual rate of 1.5% and 1.55% for 2013 and 2012, respectively. |
SHORTTERM_DEPOSITS_AND_MARKETA3
SHORT-TERM DEPOSITS AND MARKETABLE SECURITIES (Details Textual) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Money Market Funds [Member] | ' | ' |
Short Term Deposits and Marketable Securities [Line Items] | ' | ' |
Investment Interest Rates | 2.10% | 1.30% |
Government and Corporate Bonds [Member] | ' | ' |
Short Term Deposits and Marketable Securities [Line Items] | ' | ' |
Investment Interest Rates | 1.50% | 1.55% |
TRADE_RECEIVABLES_AND_ALLOWANC2
TRADE RECEIVABLES AND ALLOWANCE FOR DOUBTFUL ACCOUNTS (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Allowance for doubtful accounts | ($500) | ($738) | ($701) |
Trade receivables, net | 22,490 | 21,792 | ' |
Unbilled Revenues [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Accounts Receivable, Gross, Current | 2,800 | 3,683 | ' |
Billed Revenues [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Accounts Receivable, Gross, Current | $20,190 | $18,847 | ' |
TRADE_RECEIVABLES_AND_ALLOWANC3
TRADE RECEIVABLES AND ALLOWANCE FOR DOUBTFUL ACCOUNTS (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of year | $738 | $701 |
Change of allowance | -97 | 37 |
Write-off | -141 | 0 |
Balance at year end | $500 | $738 |
OTHER_RECEIVABLES_AND_PREPAID_2
OTHER RECEIVABLES AND PREPAID EXPENSES (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Receivables and Prepaid Expenses [Line Items] | ' | ' |
Prepaid expenses | $1,675 | $1,890 |
Other | 951 | 969 |
Prepaid Expense and Other Assets | 4,626 | 3,673 |
Other receivables and prepaid expenses - Short term | 4,408 | 3,398 |
Other receivables and prepaid expenses - Long term | 218 | 275 |
Prepaid Expense And Other Assets | 4,626 | 3,673 |
Government [Member] | ' | ' |
Other Receivables and Prepaid Expenses [Line Items] | ' | ' |
Other | 1,533 | 616 |
Employee [Member] | ' | ' |
Other Receivables and Prepaid Expenses [Line Items] | ' | ' |
Other | $467 | $198 |
LONGTERM_DEPOSITS_Details
LONG-TERM DEPOSITS (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Long Term Deposits [Line Items] | ' | ' | ||
Bank deposits (see also Note 11A) | $1,072 | $621 | ||
Bank Time Deposits [Member] | ' | ' | ||
Long Term Deposits [Line Items] | ' | ' | ||
Bank deposits (see also Note 11A) | $1,072 | [1] | $621 | [1] |
[1] | The bank deposits bear interest at an average annual rate of 2.1% and 1.3% for 2013 and 2012, respectively. |
LONGTERM_DEPOSITS_Details_Text
LONG-TERM DEPOSITS (Details Textual) (Bank Time Deposits [Member]) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Bank Time Deposits [Member] | ' | ' |
Long Term Deposits [Line Items] | ' | ' |
Investment Interest Rates | 2.10% | 1.30% |
ACCRUED_SEVERANCE_PAY_NET_Deta
ACCRUED SEVERANCE PAY, NET (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance Costs | $1,932,000 | $1,632,000 | $1,383,000 |
GOODWILL_AND_OTHER_INTANGIBLE_2
GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill [Line Items] | ' | ' | ' |
Balance as of January 1 | $1,572 | $1,572 | ' |
Changes during year: | ' | ' | ' |
Impairment | 0 | 0 | -939 |
Balance as of December 31 | $1,572 | $1,572 | $1,572 |
GOODWILL_AND_OTHER_INTANGIBLE_3
GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | $3,113 | $3,113 |
Accumulated Amortization | 3,113 | 2,661 |
Identifiable Intangible assets, Net | 0 | 452 |
Finite-Lived Intangible Asset, Useful Life | '4 years | ' |
Maximum [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '6 years | ' |
Minimum [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' |
Customer Relationships [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 1,007 | 1,007 |
Customer Relationships [Member] | Maximum [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '6 years | ' |
Customer Relationships [Member] | Minimum [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' |
Noncompete Agreements [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 127 | 127 |
Finite-Lived Intangible Asset, Useful Life | '4 years | ' |
Core Technology [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 1,507 | 1,507 |
Core Technology [Member] | Maximum [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '6 years | ' |
Core Technology [Member] | Minimum [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' |
Process Research & Development [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | $472 | $472 |
Finite-Lived Intangible Asset, Useful Life | '4 years | ' |
GOODWILL_AND_OTHER_INTANGIBLE_4
GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Details Textual) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill [Line Items] | ' | ' | ' |
Impairment Of Intangible Assets, Finite-Lived | $174 | $0 | $55 |
PROPERTY_AND_EQUIPMENT_NET_Det
PROPERTY AND EQUIPMENT, NET (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cost | ' | ' |
Property, Plant and Equipment, Gross | $13,920 | $11,147 |
Accumulated Depreciation | 8,897 | 6,941 |
Property and Equipment, Net | 5,023 | 4,206 |
Office Equipment [Member] | ' | ' |
Cost | ' | ' |
Property, Plant and Equipment, Gross | 10,928 | 8,645 |
Leaseholds and Leasehold Improvements [Member] | ' | ' |
Cost | ' | ' |
Property, Plant and Equipment, Gross | $2,992 | $2,502 |
ACCOUNTS_PAYABLE_AND_ACCRUED_E2
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Payable And Accrued Liabilities [Line Items] | ' | ' |
Suppliers | $4,720 | $5,392 |
Employee and related costs | 9,235 | 8,598 |
Government commitment | 3,752 | 2,546 |
Accounts payable and accrued expenses net | $17,707 | $16,536 |
COMMITMENTS_AND_CONTINGENCIES_1
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Line Items] | ' |
2014 | $3,783 |
2015 | 2,127 |
2016 | 1,615 |
2017-2021 | 1,648 |
Operating Leases, Future Minimum Payments Due | $9,173 |
COMMITMENTS_AND_CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Letters of Credit Outstanding, Amount | $1,100,000 | ' | ' |
Operating Leases, Rent Expense | $3,527,000 | $2,442,000 | $2,244,000 |
Israel [Member] | ' | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Office Lease Area | 58,000 | ' | ' |
Massachusett [Member] | ' | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Office Lease Area | 25,000 | ' | ' |
Burnham [Member] | ' | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Office Lease Area | 11,500 | ' | ' |
Melbourne [Member] | ' | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Office Lease Area | 10,000 | ' | ' |
Gurgaon [Member] | ' | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Office Lease Area | 22,000 | ' | ' |
SHAREHOLDERS_EQUITY_Details
SHAREHOLDERS' EQUITY (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Option And RSUs Available For Grant, Outstanding (Beginning Balance) | 2,632,409 | 2,820,387 | 2,528,737 |
Option And RSUs Available For Grant, Increase in option pool, net | 800,000 | 516,691 | 800,000 |
Option And RSUs Available For Grant, Granted | -1,241,000 | -794,000 | -554,000 |
Option And RSUs Available For Grant, Forfeited | 241,605 | 89,331 | 45,650 |
Option And RSUs Available For Grant, Exercised | 0 | 0 | 0 |
Option And RSUs Available For Grant, Outstanding (Ending Balance) | 2,433,014 | 2,632,409 | 2,820,387 |
Outstanding Option, Outstanding (Beginning Balance) | 3,440,424 | 3,021,809 | 3,248,120 |
Outstanding Option, Granted | 1,241,000 | 794,000 | 554,000 |
Outstanding Option, Forfeited | -241,605 | -89,331 | -45,650 |
Outstanding Option, Exercised | -839,633 | -286,054 | -734,661 |
Outstanding Option, Outstanding (Ending Balance) | 3,600,186 | 3,440,424 | 3,021,809 |
Weighted Average Exercise Price per share, Outstanding (Begining Balance) | $5.96 | $4.56 | $3.31 |
Weighted Average Exercise Price per share, Granted | $7.25 | $10.38 | $8.71 |
Weighted Average Exercise Price per share, Forfeited | $8.52 | $10.04 | $6.14 |
Weighted Average Exercise Price per share, Exercised | $2.38 | $2.21 | $2.07 |
Weighted Average Exercise Price per share, Outstanding (Ending Balance) | $6.95 | $5.96 | $4.56 |
Weighted Average fair Value of Option, Granted | $3.64 | $5.20 | $5.17 |
SHAREHOLDERS_EQUITY_Details_1
SHAREHOLDERS' EQUITY (Details 1) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 3,600,186 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 1,946,330 | |
Exercise Price Range One [Member] | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $0.01 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 28,002 | [1] |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '6 years 4 months 24 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $0.01 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 0 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '0 years | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $0 | |
Exercise Price Range Two [Member] | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $1.59 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $2 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 466,624 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '10 months 24 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $1.94 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 466,624 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '10 months 24 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $1.94 | |
Exercise Price Range Three [Member] | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $2.42 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $4.43 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 345,770 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '1 year 7 months 6 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $3.19 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 345,770 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '1 year 7 months 6 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $3.19 | |
Exercise Price Range Four [Member] | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $5.16 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $6.77 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 222,690 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '2 years 10 months 24 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $5.65 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 206,232 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '2 years 9 months 18 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $5.63 | |
Exercise Price Range Five [Member] | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $7.06 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $7.48 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 1,252,601 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '5 years 10 months 24 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $7.23 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 278,664 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '3 years 4 months 24 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $7.07 | |
Exercise Price Range Six [Member] | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $8.12 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $8.41 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 498,500 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '4 years 10 months 24 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $8.25 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 191,750 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '3 years 3 months 18 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $8.15 | |
Exercise Price Range Seven [Member] | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $9.48 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $9.71 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 454,333 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '4 years 3 months 18 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $9.54 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 288,750 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '4 years 3 months 18 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $9.54 | |
Exercise Price Range Eight [Member] | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $11.24 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $12.98 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 331,666 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '4 years 6 months | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $12.76 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 168,541 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '3 years 10 months 24 days | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $12.55 | |
[1] | RSUs |
SHAREHOLDERS_EQUITY_Details_2
SHAREHOLDERS' EQUITY (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share Based Compensation Activity [Line Items] | ' | ' | ' |
Total | $2,744 | $2,534 | $1,731 |
Cost Of Revenue [Member] | ' | ' | ' |
Share Based Compensation Activity [Line Items] | ' | ' | ' |
Total | 357 | 312 | 202 |
Research and Development Expense [Member] | ' | ' | ' |
Share Based Compensation Activity [Line Items] | ' | ' | ' |
Total | 292 | 254 | 168 |
Selling and Marketing Expense [Member] | ' | ' | ' |
Share Based Compensation Activity [Line Items] | ' | ' | ' |
Total | 750 | 611 | 389 |
General and Administrative Expense [Member] | ' | ' | ' |
Share Based Compensation Activity [Line Items] | ' | ' | ' |
Total | $1,345 | $1,357 | $972 |
SHAREHOLDERS_EQUITY_Details_Te
SHAREHOLDERS' EQUITY (Details Textual) | 12 Months Ended | 12 Months Ended | 36 Months Ended | 120 Months Ended | 12 Months Ended | |||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
USD ($) | USD ($) | USD ($) | ILS | ILS | Director [Member] | Director [Member] | Director [Member] | Board Of Directors Chairman [Member] | Independent Director [Member] | Each Independent Director [Member] | Chairman [Member] | Employee Directors and Consultant Option Plans [Member] | Employee Directors and Consultant Option Plans [Member] | |
Restricted Stock Units (Rsus) [Member] | Restricted Stock Units (Rsus) [Member] | Restricted Stock Units (Rsus) [Member] | Restricted Stock Units (Rsus) [Member] | Restricted Stock Units (Rsus) [Member] | Restricted Stock Units (Rsus) [Member] | 2000 stock option plan [Member] | ||||||||
Share Based Compensation Activity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ordinary shares, par value | ' | ' | ' | 0.02 | 0.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ordinary Shares Available Under Umbrella Option Plan Description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The Company adopted its umbrella option plan in 2000 (the "Plan"). Pursuant to the Plan the number of Ordinary Shares made available under it automatically increases on the first day of the Company's fiscal year to equal the lesser of: (i) 5% of the outstanding Ordinary Shares on such date, (ii) 1,250,000 Ordinary Shares, and (iii) an amount determined by the Company's board of directors. |
Option And RSUs Available For Grant, Increase in option pool, net | 800,000 | 516,691 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,097,269 | 0 |
Outstanding Option, Granted | 1,241,000 | 794,000 | 554,000 | ' | ' | ' | ' | ' | 100,000 | 48,000 | 8,000 | 290,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $4.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '2 years 7 months 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Vested and Expected To Vest, Outstanding, Number | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $8.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 6.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '4 years 9 months 18 days | '4 years 9 months 18 days | '4 years 8 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 1.90% | 3.20% | 3.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 55.00% | 57.00% | 61.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.90% | 1.40% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends, Common Stock, Cash | 6.7 | 7.5 | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Dividends, Per Share, Declared | $0.21 | $0.24 | $0.32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Dividends, Per Share, Cash Paid | $0.21 | $0.32 | $0.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends Common Stock Cash Paid | 6.7 | 10 | 7.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Exercise Price per share, Granted | $7.25 | $10.38 | $8.71 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | ' | ' | ' | 48,000 | 48,000 | 48,000 | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable In Period Weighted Average Fair Value | $3.30 | $2.60 | $2.32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | $3.90 | $1.90 | $4.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | '2 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SEGMENT_REPORTING_Details
SEGMENT REPORTING (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total revenues | $103,181 | $100,046 | $87,087 |
Americas [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total revenues | 50,573 | 60,123 | 40,070 |
EMEA [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total revenues | 42,548 | 32,888 | 39,455 |
Israel [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total revenues | 245 | 456 | 847 |
Asia Pacific [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total revenues | $9,815 | $6,579 | $6,715 |
SEGMENT_REPORTING_Details_1
SEGMENT REPORTING (Details 1) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Customer A [Member] | ' | ' | ' | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ||
Concentration Risk, Percentage | 12.00% | 11.00% | 12.00% | ||
Customer B [Member] | ' | ' | ' | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ||
Concentration Risk, Percentage | ' | [1] | ' | [1] | 10.00% |
[1] | Less than 10% |
SEGMENT_REPORTING_Details_2
SEGMENT REPORTING (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ' | ' |
Property, Plant and Equipment, Net | $5,023 | $4,206 |
Americas [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Property, Plant and Equipment, Net | 795 | 662 |
EMEA [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Property, Plant and Equipment, Net | 634 | 421 |
Asia Pacific [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Property, Plant and Equipment, Net | 1,145 | 411 |
Israel [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Property, Plant and Equipment, Net | $2,449 | $2,712 |
TAXES_ON_INCOME_TAX_BENEFIT_De
TAXES ON INCOME (TAX BENEFIT) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Deferred Tax Assets [Line Items] | ' | ' | ||
Net operating loss carry forwards of non-Israeli subsidiaries | $7,249 | $7,360 | ||
Net operating loss carry forwards In Israel | 768 | [1] | 0 | [1] |
R&D cost temporary differences | 991 | 984 | ||
Other timing differences | 2,016 | 1,628 | ||
Deferred liability due to future dividend from 2012 Approved Enterprise | 0 | -735 | ||
Deferred tax assets before valuation allowance | 11,024 | 9,237 | ||
Valuation allowance | -7,264 | -7,787 | ||
Deferred tax assets, net of allowance | $3,760 | $1,450 | ||
[1] | Based on 16% tax rate for 2014 |
TAXES_ON_INCOME_TAX_BENEFIT_De1
TAXES ON INCOME (TAX BENEFIT) (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets [Line Items] | ' | ' |
Current deferred taxes, net | $1,740 | $220 |
Non-current deferred taxes, net | 2,060 | 1,230 |
Non-current deferred tax liability, net | -40 | 0 |
Deferred tax assets, net of allowance | $3,760 | $1,450 |
TAXES_ON_INCOME_TAX_BENEFIT_De2
TAXES ON INCOME (TAX BENEFIT) (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Activity [Line Items] | ' | ' | ' |
Net income before taxes | ($5,084) | $7,657 | $14,672 |
Israel [Member] | ' | ' | ' |
Income Tax Activity [Line Items] | ' | ' | ' |
Net income before taxes | -10,274 | 4,482 | 13,330 |
International [Member] | ' | ' | ' |
Income Tax Activity [Line Items] | ' | ' | ' |
Net income before taxes | $5,190 | $3,175 | $1,342 |
TAXES_ON_INCOME_TAX_BENEFIT_De3
TAXES ON INCOME (TAX BENEFIT) (Details 3) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Income Tax Activity [Line Items] | ' | ' | ' | |||
Current taxes | $642 | $709 | $1,152 | |||
Tax payment for previous years retained earnings | 744 | [1] | 0 | [1] | 0 | [1] |
Deferred taxes | -2,310 | -540 | 1,310 | |||
Income Tax Expense (Benefit) | ($924) | $169 | $2,462 | |||
[1] | See Note 14.A above |
TAXES_ON_INCOME_TAX_BENEFIT_De4
TAXES ON INCOME (TAX BENEFIT) (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Benefit Expenses [Line Items] | ' | ' | ' |
Net (loss) income before taxes | ($5,084) | $7,657 | $14,672 |
Average Statutory tax rates | 22.00% | 28.00% | 27.00% |
Theoretical tax | -1,118 | 2,144 | 3,961 |
Change in taxes resulting from effect of bprivileged enterpriseb status | 2,569 | -1,120 | -3,266 |
Non-deductible expenses | 577 | 1,235 | -641 |
Change in valuation allowance and deferred taxes | -2,887 | -1,775 | 1,951 |
Other | -65 | -315 | 457 |
Income Tax Reconciliation, Other Reconciling Items | 194 | -1,975 | -1,499 |
Actual tax (benefit) expense | ($924) | $169 | $2,462 |
TAXES_ON_INCOME_TAX_BENEFIT_De5
TAXES ON INCOME (TAX BENEFIT) (Details Textual) (USD $) | 12 Months Ended | 24 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
Plan Four [Member] | Plan Five [Member] | Plan Six [Member] | Israel Development Zone [Member] | Israel Development Zone [Member] | Israel Development Zone [Member] | Other Area In Israel [Member] | Other Area In Israel [Member] | Other Area In Israel [Member] | Federal Tax [Member] | Federal Tax [Member] | State and Local Jurisdiction [Member] | Uncertain Tax Positions One [Member] | Uncertain Tax Positions One [Member] | Uncertain Tax Positions Two [Member] | Uncertain Tax Positions Two [Member] | Uncertain Tax Positions Three [Member] | Uncertain Tax Positions Three [Member] | Uncertain Tax Positions Four [Member] | Minimum [Member] | Maximum [Member] | |||||
Amendment 2011 [Member] | Amendment 2011 [Member] | Amendment 2011 [Member] | Amendment 2011 [Member] | Amendment 2011 [Member] | Amendment 2011 [Member] | ISRAEL | |||||||||||||||||||
Scenario, Forecast [Member] | Scenario, Forecast [Member] | ||||||||||||||||||||||||
Income Tax Benefit Expenses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $18,600,000 | $4,800,000 | $5,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liability for Uncertain Tax Positions, Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 383 | 367 | 256 | 555 | 117 | 178 | 19 | ' | ' |
Tax Rate On Income Not Eligible For Approved Enterprise | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Investment Ranging Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.00% | 100.00% |
Tax Benefit Expiration Year | ' | ' | ' | ' | '2015 | '2017 | '2019 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate Dividends Distributed In Last 2 years ending Dec 31 2012 | ' | ' | ' | 17,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax Paid For Approved Enterprises | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Released For Future Dividends | ' | 12,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Total Turnover As Minimum Export Requirement To Satisfy Incentive Law | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Rate For Approved Enterprises | ' | ' | ' | ' | ' | ' | ' | 7.00% | 10.00% | 9.00% | 12.50% | 15.00% | 16.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Of Earnings For Which Deferred Taxes Not Provided | 16,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential Tax Liability | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Taxes On Dividends Distribution | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Withholding Tax Rate On Dividends Distributed | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred taxes expenses (income) | 2,310,000 | 540,000 | -1,310,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Benefit Description | 'These benefits include accelerated depreciation of fixed assets used in the investment program, as well as a full tax exemption on undistributed income in relation to income derived from the first plan for a period of 2 years and for the second and third plans for a period of 4 years. Thereafter tax rate of 25% will be applicable for an additional period of up to 5 years for the first plan and 3 years for the second and third plans, commencing with the date on which taxable income is first earned but not later than certain dates. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforward Expiration Dates | 'from 2014 through 2024 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends, Cash, Total | $6,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SUBSEQUENT_EVENTS_Details_Text
SUBSEQUENT EVENTS (Details Textual) (Subsequent Event [Member], USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Mar. 04, 2014 |
Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Payments for Merger Related Costs | $15 |