Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 01, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | PDF SOLUTIONS INC | ||
Entity Central Index Key | 1,120,914 | ||
Trading Symbol | pdfs | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 32,051,899 | ||
Entity Public Float | $ 416.2 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 116,787 | $ 126,158 |
Accounts receivable, net of allowances of $200 and $299, respectively | 48,157 | 33,438 |
Prepaid expenses and other current assets | 5,335 | 3,655 |
Total current assets | 170,279 | 163,251 |
Property and equipment, net | 19,341 | 11,325 |
Goodwill | 215 | 215 |
Intangible assets, net | 4,223 | 5,028 |
Deferred tax assets | 15,640 | 10,299 |
Other non-current assets | 12,631 | 1,651 |
Total assets | 222,329 | 191,769 |
Current liabilities: | ||
Accounts payable | 2,206 | 1,293 |
Accrued compensation and related benefits | 5,959 | 4,812 |
Accrued and other current liabilities | 2,080 | 2,382 |
Deferred revenues - current portion | 8,189 | 4,702 |
Billings in excess of recognized revenues | 88 | 1,267 |
Total current liabilities | 18,522 | 14,456 |
Long-term income taxes payable | 3,354 | 2,540 |
Other non-current liabilities | 1,650 | 466 |
Total liabilities | 23,526 | 17,462 |
Commitments and contingencies (Note 4) | ||
Stockholders’ equity: | ||
Preferred stock, $0.00015 par value, 5,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, $0.00015 par value, 70,000 shares authorized; shares issued 38,514 and 37,476, respectively; shares outstanding 31,864 and 31,111, respectively | 5 | 5 |
Additional paid-in capital | 281,423 | 266,008 |
Treasury stock, at cost, 6,650 and 6,365 shares, respectively | (54,882) | (50,383) |
Accumulated deficit | (25,752) | (39,780) |
Accumulated other comprehensive loss | (1,991) | (1,543) |
Total stockholders’ equity | 198,803 | 174,307 |
Total liabilities and stockholders’ equity | $ 222,329 | $ 191,769 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts receivable, allowance | $ 200 | $ 299 |
Preferred stock, par value (in dollars per share) | $ 0.00015 | $ 0.00015 |
Preferred stock, shares authorized (in shares) | 5,000 | 5,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.00015 | $ 0.00015 |
Common stock, shares authorized (in shares) | 70,000 | 70,000 |
Common stock, shares issued (in shares) | 38,514 | 37,476 |
Common stock, shares outstanding (in shares) | 31,864 | 31,111 |
Treasury stock, shares (in shares) | 6,650 | 6,365 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues: | |||
Design-to-silicon-yield solutions | $ 77,162 | $ 63,839 | $ 52,769 |
Gainshare performance incentives | 30,299 | 34,138 | 47,394 |
Total revenues | 107,461 | 97,977 | 100,163 |
Cost of Design-to-silicon-yield solutions: | |||
Direct costs of Design-to-silicon-yield solutions | 44,074 | 38,847 | 37,822 |
Impairment of deferred cost | 1,892 | ||
Amortization of acquired technology | 374 | 176 | |
Total cost of Design-to-silicon-yield solutions | 44,448 | 39,023 | 39,714 |
Gross profit | 63,013 | 58,954 | 60,449 |
Operating expenses: | |||
Research and development | 27,559 | 19,096 | 14,064 |
Selling, general and administrative | 22,056 | 20,421 | 18,457 |
Amortization of other acquired intangible assets | 432 | 196 | 31 |
Restructuring charges | 57 | ||
Total operating expenses | 50,047 | 39,713 | 32,609 |
Income from operations | 12,966 | 19,241 | 27,840 |
Interest and other (expense) income, net | (10) | 181 | 119 |
Income before taxes | 12,956 | 19,422 | 27,959 |
Income tax provision | 3,853 | 7,015 | 9,497 |
Net income | $ 9,103 | $ 12,407 | $ 18,462 |
Net income per share | |||
Basic (in dollars per share) | $ 0.29 | $ 0.39 | $ 0.60 |
Diluted (in dollars per share) | $ 0.28 | $ 0.39 | $ 0.58 |
Weighted average common shares | |||
Basic (in shares) | 31,373 | 31,424 | 30,743 |
Diluted (in shares) | 32,431 | 32,164 | 31,939 |
Net income | $ 9,103 | $ 12,407 | $ 18,462 |
Other comprehensive (loss) income: | |||
Foreign currency translation adjustments, net of tax | (448) | (862) | (1,129) |
Comprehensive income | $ 8,655 | $ 11,545 | $ 17,333 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 31, 2013 | 30,437,000 | 4,848,000 | ||||
Balances at Dec. 31, 2013 | $ 5 | $ 233,813 | $ (28,905) | $ (70,649) | $ 448 | $ 134,712 |
Issuance of common stock in connection with employee stock purchase plan (in shares) | 114,000 | |||||
Issuance of common stock in connection with employee stock purchase plan | 1,437 | $ 1,437 | ||||
Issuance of common stock in connection with exercise of options (in shares) | 509,000 | 509,000 | ||||
Issuance of common stock in connection with exercise of options | 3,225 | $ 3,225 | ||||
Vesting of restricted stock units (in shares) | 350,000 | |||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants (in shares) | (100,000) | 100,000 | ||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants | $ (1,577) | (1,577) | ||||
Repurchases of common stock (in shares) | (194,000) | 194,000 | ||||
Repurchases of common stock | $ (3,566) | (3,566) | ||||
Stock-based compensation expense | 8,512 | 8,512 | ||||
Tax benefit from employee stock plans | 1,747 | 1,747 | ||||
Comprehensive income | 18,462 | (1,129) | 17,333 | |||
Balances (in shares) at Dec. 31, 2014 | 31,116,000 | 5,142,000 | ||||
Balances at Dec. 31, 2014 | $ 5 | 248,734 | $ (34,048) | (52,187) | (681) | 161,823 |
Repurchases of common stock | $ (3,566) | (3,566) | ||||
Issuance of common stock in connection with employee stock purchase plan (in shares) | 110,000 | |||||
Issuance of common stock in connection with employee stock purchase plan | 1,379 | $ 1,379 | ||||
Issuance of common stock in connection with exercise of options (in shares) | 655,000 | 655,000 | ||||
Issuance of common stock in connection with exercise of options | 5,039 | $ 5,039 | ||||
Vesting of restricted stock units (in shares) | 453,000 | |||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants (in shares) | (133,000) | 133,000 | ||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants | $ (1,810) | (1,810) | ||||
Repurchases of common stock (in shares) | (1,090,000) | 1,090,000 | ||||
Repurchases of common stock | $ (14,525) | (14,525) | ||||
Stock-based compensation expense | 9,761 | 9,761 | ||||
Tax benefit from employee stock plans | 1,095 | 1,095 | ||||
Comprehensive income | 12,407 | (862) | 11,545 | |||
Balances (in shares) at Dec. 31, 2015 | 31,111,000 | 6,365,000 | ||||
Balances at Dec. 31, 2015 | $ 5 | 266,008 | $ (50,383) | (39,780) | (1,543) | 174,307 |
Repurchases of common stock | $ (14,525) | $ (14,525) | ||||
Repurchases of common stock (in shares) | 149,457 | |||||
Balances at Sep. 30, 2016 | $ 192,884 | |||||
Balances (in shares) at Dec. 31, 2015 | 31,111,000 | 6,365,000 | ||||
Balances at Dec. 31, 2015 | $ 5 | 266,008 | $ (50,383) | (39,780) | (1,543) | 174,307 |
Issuance of common stock in connection with employee stock purchase plan (in shares) | 173,000 | |||||
Issuance of common stock in connection with employee stock purchase plan | 1,557 | $ 1,557 | ||||
Issuance of common stock in connection with exercise of options (in shares) | 393,000 | 393,000 | ||||
Issuance of common stock in connection with exercise of options | 2,972 | $ 2,972 | ||||
Vesting of restricted stock units (in shares) | 336,000 | |||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants (in shares) | 135,000 | |||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants | $ (2,317) | (2,317) | ||||
Repurchases of common stock (in shares) | (149,000) | 149,000 | ||||
Repurchases of common stock | $ (2,182) | (2,182) | ||||
Stock-based compensation expense | 10,886 | 10,886 | ||||
Tax benefit from employee stock plans | ||||||
Comprehensive income | 9,103 | (448) | 8,655 | |||
Balances (in shares) at Dec. 31, 2016 | 31,864,000 | 6,650,000 | ||||
Balances at Dec. 31, 2016 | $ 5 | 281,423 | $ (54,882) | (25,752) | (1,991) | 198,803 |
Repurchases of common stock | (2,182) | (2,182) | ||||
Cumulative-effect adjustment from adoption of ASU 2016-09 | Accounting Standards Update 2016-09 [Member] | 4,925 | 4,925 | ||||
Balances at Sep. 30, 2016 | $ 192,884 | |||||
Repurchases of common stock (in shares) | 0 | |||||
Balances (in shares) at Dec. 31, 2016 | 31,864,000 | 6,650,000 | ||||
Balances at Dec. 31, 2016 | $ 5 | $ 281,423 | $ (54,882) | $ (25,752) | $ (1,991) | $ 198,803 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | |||
Net income | $ 9,103,000 | $ 12,407,000 | $ 18,462,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 3,584,000 | 2,646,000 | 2,010,000 |
Stock-based compensation expense | 11,002,000 | 9,756,000 | 8,547,000 |
Accrued contingent earn-out payments | 500,000 | ||
Impairment of deferred cost | 1,892,000 | ||
Amortization of acquired intangible assets | 805,000 | 372,000 | 31,000 |
Deferred taxes | 216,000 | 1,563,000 | 2,886,000 |
Provision for (reversal of) doubtful accounts | (99,000) | (82,000) | 27,000 |
Unrealized (gain) loss on foreign currency forward contract | (47,000) | 12,000 | 50,000 |
Loss (gain) on disposal of assets | 107,000 | 2,000 | (242,000) |
Tax benefit related to stock-based compensation expense | 1,095,000 | 1,747,000 | |
Excess tax benefit from stock-based compensation expense | (1,034,000) | (1,635,000) | |
Changes in operating assets and liabilities, net of acquisition effects: | |||
Accounts receivable, net of allowances | (14,620,000) | 4,373,000 | (2,892,000) |
Prepaid expenses and other current assets | (1,688,000) | (583,000) | (1,174,000) |
Accounts payable | 85,000 | (684,000) | (1,516,000) |
Accrued compensation and related benefits | 1,178,000 | (1,353,000) | (1,421,000) |
Accrued and other liabilities | (389,000) | 166,000 | 7,000 |
Taxes Payable | 158,000 | ||
Deferred revenues | 4,772,000 | 411,000 | 1,713,000 |
Billings in excess of recognized revenues | (1,179,000) | 1,267,000 | (343,000) |
Other non-current assets | (10,988,000) | (498,000) | 517,000 |
Net cash provided by operating activities | 2,000,000 | 30,336,000 | 28,666,000 |
Investing activities: | |||
Proceeds from the sale of property and equipment | 285,000 | ||
Purchases of property and equipment | (11,282,000) | (4,784,000) | (3,958,000) |
Purchases of intangible asset | (400,000) | ||
Payments for business acquisitions, net of cash acquired | (5,152,000) | ||
Net cash used in investing activities | (11,282,000) | (10,336,000) | (3,673,000) |
Financing activities: | |||
Payments of obligations assumed in business acquisition | (347,000) | ||
Proceeds from exercise of stock options | 2,972,000 | 5,039,000 | 3,225,000 |
Proceeds from employee stock purchase plan | 1,557,000 | 1,379,000 | 1,437,000 |
Repurchases of common stock | (2,182,000) | (14,525,000) | (3,566,000) |
Excess tax benefit from stock-based compensation expense | 1,034,000 | 1,635,000 | |
Payments for taxes related to net share settlement of equity awards | (2,317,000) | (1,810,000) | (1,577,000) |
Net cash (used in) provided by financing activities | 30,000 | (9,230,000) | 1,154,000 |
Effect of exchange rate changes on cash and cash equivalents | (119,000) | (76,000) | (54,000) |
Net (decrease) increase in cash and cash equivalents | (9,371,000) | 10,694,000 | 26,093,000 |
Cash and cash equivalents, beginning of year | 126,158,000 | 115,464,000 | 89,371,000 |
Cash and cash equivalents, end of year | 116,787,000 | 126,158,000 | 115,464,000 |
Supplemental disclosure of cash flow information: | |||
Taxes | 3,635,000 | 4,983,000 | 4,222,000 |
Interest | 16,000 | ||
Property and equipment received and accrued in accounts payable and accrued and other liabilities | $ 666,000 | $ 224,000 | $ 212,000 |
Note 1 - Business and Significa
Note 1 - Business and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. PDF Solutions, Inc. (the “Company” or “PDF”), provides infrastructure technologies and services to improve yield and optimize performance of integrated circuits. The Company’s approach includes manufacturing simulation and analysis, combined with yield improvement methodologies to increase product yield and performance. Basis of Presentation Use of Estimates Concentration of Credit Risk The Company primarily sells its technologies and services to companies in Asia, Europe and North America within the semiconductor industry. As of December 31, 2016, two 55% two 52% 2016. December 31, 2015, one 65% two 65% 2015. 8 Cash, Cash Equivalents and Short-term Investments 90 three one Property and Equipment Computer equipment (years) 3 Software (years) 3 Furniture, fixtures, and equipment (years) 5 - 7 Leasehold improvements Shorter of estimated useful life or term of lease Long-lived Assets . may Goodwill fourth two first second one Revenue Recognition two Design-to-silicon-yield solutions — Revenues that are derived from Design-to-silicon-yield solutions come from services and software and hardware licenses. The Company recognizes revenue for each element of Design-to-silicon-yield solutions as follows: The Company generates a significant portion of its Design-to-silicon-yield solutions revenue from fixed-price solution implementation service contracts delivered over a specific period of time. These contracts require reliable estimation of costs to perform obligations and the overall scope of each engagement. Revenue under project–based contracts for solution implementation services is recognized as services are performed using percentage of completion method of contract accounting based on costs or labor-hours input method, whichever is the most appropriate measure of the progress towards completion of the contract. Losses on fixed-price solution implementation contracts are recognized in the period when they become probable. Revisions in profit estimates are reflected in the period in which the conditions that require the revisions become known and can be estimated (cumulative catch-up method). During the year ended December 31, 2016, one $0.9 $0.03 On occasion, the Company licenses its software products as a component of its fixed-price service contracts. In such instances, the software products are licensed to customers over a specified term of the agreement with support and maintenance to be provided, if applicable, over the license term. The amount of product and service revenue recognized in a given period is affected by the Company’s judgment as to whether an arrangement includes multiple deliverables and, if so, the Company’s determination of the fair value of each deliverable. In general, vendor-specific objective evidence of selling price (“VSOE”) does not exist for the Company’s solution implementation services and software products and because the Company’s services and products include our unique technology, the Company is not able to determine third In some instances, the Company also licenses its DFI system as a separate component of fixed-price service contracts. The Company allocates revenue to all deliverables based on their relative selling prices. The Company currently does not have VSOE for its DFI system, thus the Company uses either TPE or BESP in the allocation of arrangement consideration. The Company defers certain pre-contract costs incurred for specific anticipated contracts. Deferred costs consist primarily of direct costs to provide solution implementation services in relation to the specific anticipated contracts. The Company recognizes such costs as a component of cost of revenues, the timing of which is dependent upon persuasive evidence of contract arrangement assuming all other revenue recognition criteria are met. The Company also defers costs from arrangements that required us to defer the revenues, typically due to revenue recognition from multi-element arrangements or from contracts subject to customer acceptance. These costs are recognized in proportion to the related revenue. At the end of the reporting period, the Company evaluates its deferred costs for their probable recoverability. The Company recognizes impairment of deferred costs when it is determined that the costs no longer have future benefits and are no longer recoverable. Deferred costs balance was $0.5 zero December 31, 2016 December 31, 2015, December 31, 2014, $1.9 two The Company also licenses its software products separately from solution implementations. For software license arrangements that do not require significant modification or customization of the underlying software, software license revenue is recognized under the residual method when (l) persuasive evidence of an arrangement exists, (2) (3) (4) (5) (1) (2) (3) Revenue from software-as-a-service (SaaS) that allow for the use of a hosted software product or service over a contractually determined period of time without taking possession of software are accounted for as subscriptions and recognized as revenue ratably over the coverage period beginning on the date the service is made available to customers. Revenue for software licenses with extended payment terms is not recognized in excess of amounts due. For software license arrangements that require significant modification or customization of the underlying software, the software license revenue is recognized as services are performed using the percentage of completion method of contract accounting, and such revenue is recorded as services revenue. Deferred revenues consist substantially of amounts invoiced in advance of revenue recognition and is recognized as the revenue recognition criteria are met. Deferred revenues that will be recognized during the succeeding 12 $1.5 $0.3 December 31, 2016 2015. Gainshare Performance Incentives — When the Company enters into a contract to provide yield improvement services, the contract usually includes two (1) (2) may Accounts Receivable 12 $20.8 $11.5 December 31, 2016, December 31, 2015, 12 $9.8 $0.1 December 31, 2016 2015, Allowance for doubtful accounts are summarized below: Balance at Beginning of Period Charged to Costs and Expenses Deductions/ Write-offs of Accounts Balance at End of Period Allowance for doubtful accounts 2016 $ 299 $ — $ 99 $ 200 2015 $ 381 $ — $ 82 $ 299 2014 $ 354 $ 27 $ — $ 381 Software Development Costs six Research and Development Stock-Based Compensation four ASU No. 2016 09, 718): fourth 2016, continue to estimate forfeitures expected to occur to determine the amount of compensation expense to be recognized in each period. As stock-based compensation expense recognized is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company has elected to use the Black-Scholes-Merton option-pricing model, which incorporates various assumptions including volatility, expected life and interest rates. The expected volatility is based on the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected life of the Company’s stock options. The expected life of an award is based on historical experience and on the terms and conditions of the stock awards granted to employees. The interest rate assumption is based upon observed Treasury yield curve rates appropriate for the expected life of the Company’s stock options. Income Taxes 50% Net Income Per Share – Foreign Currency Translation Derivative Financial Instruments two three Litigation December 31, 2016, Recent Accounting Pronouncements In March 2016, 2016 09, 718): 718 2016 09 December 15, 2016, fourth 2016, January 1, 2016, The primary impact of adoption of ASU 2016 09 $1,000, $81,000 $(94,000) three March 31, 2016, June 30, 2016, September 30, 2016, $4.9 January 1, 2016, Additionally, the Company adopted the change in presentation in the condensed consolidated statement of cash flows related to excess tax benefits on a prospective basis. Accordingly, prior periods have not been adjusted. The Company also reclassified the presentation related to statutory tax withholding requirements from operating activity to financing activity in its consolidated statement of cash flows retrospectively. The Company elected to continue to estimate forfeitures expected to occur to determine the amount of compensation expense to be recognized in each period. The adoption of this ASU impacted our previously reported quarterly results during fiscal year 2016 March 31, 2016 June 30, 2016 September 30, 2016 (in thousands) As reported As adjusted As reported As adjusted As reported As adjusted (Unaudited) Consolidated Balance Sheets Data: Deferred tax assets $ 10,186 $ 14,761 $ 10,106 $ 14,201 $ 10,201 $ 14,135 Total assets $ 198,217 $ 202,792 $ 202,233 $ 206,328 $ 210,152 $ 214,086 Common stock and additional paid-in capital $ 269,949 $ 269,600 $ 272,891 $ 272,143 $ 277,503 $ 276,500 Accumulated deficit $ (37,718 ) $ (32,794 ) $ (35,504 ) $ (30,661 ) $ (33,614 ) $ (28,677 ) Total stockholders’ equity $ 180,655 $ 185,230 $ 182,716 $ 186,811 $ 188,950 $ 192,884 Total liabilities and stockholders’ equity $ 198,217 $ 202,792 $ 202,233 $ 206,328 $ 210,152 $ 214,086 Three months ended March 31, 2016 Three months ended June 30, 2016 Three months ended September 30, 2016 (in thousands, except percentages and per share amounts) As reported As adjusted As reported As adjusted As reported As adjusted Consolidated Statements of Income Data: (Unaudited) Income tax provision $ 1,025 $ 1,026 $ 1,498 $ 1,579 $ 1,145 $ 1,051 Net income $ 2,062 $ 2,061 $ 2,214 $ 2,133 $ 1,890 $ 1,984 Effective tax rate 33 % 33 % 40 % 43 % 38 % 35 % Net income per share: Basic $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.06 $ 0.06 Diluted $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.06 $ 0.06 Weighted average common shares: Diluted 31,722 31,754 32,023 32,099 32,373 32,578 Three months ended March 31, 2016 Six months ended June 30, 2016 Nine months ended September 30, 2016 Year ended December 31, 2015 Year ended December 31, 2014 (in thousands) As reported As adjusted As reported As adjusted As reported As adjusted As reported As adjusted As reported As adjusted (Unaudited) (Audited) (Audited) Consolidated Statements of Cash Flows Data: Net cash provided by (used in) operating activities $ 3,658 $ 3,998 $ 981 $ 2,765 $ (282 ) $ 1,829 $ 28,526 $ 30,336 $ 27,089 $ 28,666 Net cash provided by (used in) financing activities $ 1,289 $ 950 $ 95 $ (1,688 ) $ (1,458 ) $ (653 ) $ (7,420 ) $ (9,230 ) $ 2,731 $ 1,154 In August 2014, 2014 15, December 15, 2016. In May 2014, 2014 09, 606) 2015 14, 606): 2016 08, 606): 2016 10, 606): ASU No. 2016 11, 605) 815), 2016 12, 606): 2016 20, 606): The new revenue recognition standard provides a five December 15, 2017, two The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In February 2016, 2016 2, 842). December 15, 2018, In August 2016, 2016 15, December 15, 2017, In January 2017, 2017 04, 350) 2017 04"). 2017 04 2 December 15, 2019, |
Note 2 - Property and Equipment
Note 2 - Property and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 2. Property and equipment consist of (in thousands): December 31, 201 6 201 5 Computer equipment $ 10,642 $ 9,188 Software 1,679 1,713 Furniture, fixtures, and equipment 1,185 907 Leasehold improvements 1,132 1,126 Test equipment 11,723 7,214 Construction-in-progress 9,550 4,777 35,911 24,925 Accumulated depreciation (16,570 ) (13,600 ) Total $ 19,341 $ 11,325 Depreciation and amortization expense for years ended December 31, 2016, 2015, 2014 $3.6 $2.6 $2.0 |
Note 3 - Goodwill and Intangibl
Note 3 - Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 3. As of both December 31, 2016, December 31, 2015, $0.2 December 31, 201 6 Balance as of December 31, 2015 $ 215 Add: Goodwill from acquisition - Goodwill adjustment - Balance as of December 31, 2016 $ 215 Intangible assets balance was $4.2 $5.0 December 31, 2016, December 31, 2015, December 31, 2016, December 31, 2016 December 31, 2015 Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired identifiable intangibles: Customer relationships 1 - 9 $ 5,920 $ (3,825 ) $ 2,095 $ 5,920 $ (3,547 ) $ 2,373 Developed technology 4 - 6 14,100 (12,359 ) 1,741 14,100 (11,976 ) 2,124 Tradename 2 - 4 610 (583 ) 27 610 (533 ) 77 Backlog 1 100 (100 ) - 100 (46 ) 54 Patent 7 - 10 1,800 (1,440 ) 360 1,800 (1,400 ) 400 Other acquired intangibles 4 255 (255 ) - 255 (255 ) - Total $ 22,785 $ (18,562 ) $ 4,223 $ 22,785 $ (17,757 ) $ 5,028 The weighted average amortization period for acquired identifiable intangible assets was 6.39 December 31, 2016. December 31, 2016, 2015, 2014 $0.8 $0.4 $31,000, Year Ending December 31, 2017 728 2018 701 2019 701 2020 701 2021 526 2022 and thereafter 866 Total future amortization expense $ 4,223 Intangible assets are amortized over their useful lives unless these lives are determined to be indefinite. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may December 31, 2016, no |
Note 4 - Commitments and Contin
Note 4 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 4. Leases 2024. $2.2 $2.1 $2.1 2016, 2015, 2014, Future minimum lease payments under noncancelable operating leases at December 31, 2016, Year Ending December 31, 2017 $ 1,914 2018 1,299 2019 436 2020 372 2021 198 2022 and thereafter 72 Total future minimum lease payments $ 4,291 Indemnifications 90 third Purchase obligations December 31, 2016, $7.9 12 Indemnification of Officers and Directors In addition, the Bylaws of the Company provide that the Company is required to indemnify its officers and directors even when indemnification would otherwise be discretionary, and the Company is required to advance expenses to its officers and directors as incurred in connection with proceedings against them for which they may may Litigation December 31, 2016, no |
Note 5 - Stockholders' Equity
Note 5 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | 5. Stock-based compensation expenses related to the Company’s employee stock purchase plan and stock plans were allocated as follows (in thousands): Years Ended December 31, 201 6 201 5 201 4 Cost of Design-to-silicon-yield solutions $ 4,427 $ 3,914 $ 3,419 Research and development 3,087 2,275 1,709 Selling, general and administrative 3,488 3,567 3,419 Stock-based compensation expense $ 11,002 $ 9,756 $ 8,547 The stock-based compensation expense for the year ended December 31, 2016, 2015, 2014 $116,000, $(5,000), $34,000, Stock-based compensation is estimated at the grant date based on the award’s fair value and is recognized on a straight-line basis over the vesting periods, generally four The Company has elected to use the Black-Scholes-Merton option-pricing model, which incorporates various assumptions including volatility, expected life and interest rates. The expected volatility is based on the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected life of the Company’s stock options. The expected life of an award is based on historical experience and on the terms and conditions of the stock awards granted to employees. The interest rate assumption is based upon observed Treasury yield curve rates appropriate for the expected life of the Company’s stock options. The fair value of equity awards granted was estimated on the date of grant with the following weighted average assumptions: Stock Plans Employee Stock Purchase Plan 201 6 201 5 201 4 201 6 201 5 201 4 Expected life (in years) 4.4 4.5 4.6 1.25 1.25 1.25 Volatility 43.2 % 45.8 % 44.0 % 44.0 % 50.1 % 33.4 % Risk-free interest rate 1.34 % 1.37 % 1.54 % 0.50 % 0.34 % 0.21 % Expected dividend — — — — — — On December 31, 2016, Stock Plans November 16, 2011, 2011 2013 May 28, 2013, 2011 2014 May 27, 2014, 2011, 2016 May 31, 2016, third 2011 “2011 2011 may 7,800,000 3,500,000 2001 2001 November 16, 2011. 1.33 ten four In 2001, 2001 “2001 2003, 2001 2001 2011. 2001 ten four may 2001 2001 As of December 31, 2016, 8.3 2011 3.5 2011 0.5 2001 2011 December 31, 2016. December 31, 2016, 2011, 2001 Additional information with respect to options under the Plans is as follows: Outstanding Options Number of Options (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding, January 1, 2014 2,880 7.35 Granted (weighted average fair value of $6.66 per share) 28 17.40 Exercised (509 ) 6.33 Canceled (40 ) 10.03 Expired (7 ) 7.41 Outstanding, December 31, 2014 2,352 7.65 Granted (weighted average fair value of $5.45 per share) 93 13.88 Exercised (655 ) 7.70 Canceled (23 ) 12.95 Expired (3 ) 12.91 Outstanding, December 31, 2015 1,764 7.88 Granted (weighted average fair value of $5.36 per share) 99 14.55 Exercised (393 ) 7.56 Canceled (31 ) 13.82 Expired (75 ) 13.80 Outstanding, December 31, 2016 1,364 8.00 4.41 $ 19,861 Vested and expected to vest, December 31, 2016 1,354 7.94 4.37 $ 19,782 Exercisable, December 31, 2016 1,219 7.21 3.87 $ 18,707 The aggregate intrinsic value in the table above represents the total intrinsic value based on the Company’s closing stock price of $22.55 December 31, 2016, December 31, 2016, 2015, 2014 $4.4 $6.2 $6.7 As of December 31, 2016, $0.7 3.04 December 31, 2016, $0.6 Nonvested shares (restricted stock units) were as follows: Shares (in thousands) Weighted- Average Grant-Date Fair Value Nonvested, January 1, 2014 759 14.44 Granted 569 19.42 Vested (350 ) 14.43 Forfeited (37 ) 18.00 Nonvested, December 31, 2014 941 17.38 Granted 720 15.92 Vested (453 ) 15.97 Forfeited (42 ) 17.27 Nonvested, December 31, 2015 1,166 17.03 Granted 963 14.41 Vested (472 ) 17.00 Forfeited (115 ) 15.73 Nonvested, December 31, 2016 1,542 15.50 As of December 31, 2016, $20.0 2.8 Employee Stock Purchase Plan July 2001, ten 10% 85% twenty four four six January 1 2002, (1) 675,000 (2) 2% (3) May 18, 2010, May 17, 2020. December 31, 2016, 7.5 2016, 2015, 2014, 173,000, 110,000, 114,000, $9.00, $12.57, $12.62 December 31, 2016, 3.9 2016, 2015, 2014 $3.69, $5.51, $6.41 December 31, 2016, $0.8 1.15 Stock Repurchase Program On October 21, 2014, two $25.0 December 31, 2016, 149,457 1,239,230 $13.48 $16.7 October 21, 2016. October 25, 2016, $25.0 two December 31, 2016, $25.0 |
Note 6 - Income Taxes
Note 6 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 6. Year Ended December 31, 201 6 201 5 201 4 (In thousands) U.S. Current $ 410 $ 2,022 $ 3,032 Deferred 208 1,549 2,882 Foreign Current 329 341 476 Withholding 2,898 3,089 3,103 Deferred 8 14 4 Total provision $ 3,853 $ 7,015 $ 9,497 During the years ended December 31, 2016, 2015 2014, $11.3 $17.7 $26.2 $1.6 $1.7 $1.8 The income tax provision differs from the amount estimated by applying the statutory federal income tax rate (35%) Year Ended December 31, 201 6 201 5 201 4 Federal statutory tax provision $ 4,534 $ 6,798 $ 9,786 State tax provision 283 465 56 Stock compensation expense (1) 45 677 540 Tax credits (4,000 ) (4,166 ) (3,924 ) Foreign tax, net 2,852 3,111 3,170 Change in valuation allowance — — — Other 139 130 (131 ) Tax provision $ 3,853 $ 7,015 $ 9,497 (1) Due to the adoption of ASU 2016 09, December 31, 2016 1 As of December 31, 2016, $3.2 $7.1 2019 2017, As of December 31, 2016, $10.7 $14.9 2026, may three 1986 1987. The Company assesses its deferred tax assets for recoverability on a regular basis, and where applicable, a valuation allowance is recorded to reduce the total deferred tax asset to an amount that will, more likely than not, be realized in the future. As of December 31, 2016 2015, December 31, 2016 2015, $6.7 $6.0 $0.1 December 31, 2016 2015 $15.0 $10.3 The Company elected to early adopt ASU No. 2016 09 fourth 2016. Prior to the adoption of ASU 2016 09, December 31, 2015, $4.8 $63,000, The components of the net deferred tax assets are comprised of (in thousands): December 31, 201 6 201 5 Deferred tax assets Net operating loss carry forward $ 1,768 $ 1,895 Research and development and other credit carry forward 12,345 5,995 Foreign tax credit carry forward — — Accruals deductible in different periods 3,446 3,046 Intangible assets 2,573 3,078 Stock-based compensation 2,285 2,474 Valuation allowance (6,798 ) (6,205 ) Subtotal $ 15,619 $ 10,283 Deferred tax liabilities Fixed assets (619 ) 10 Net Deferred tax assets $ 15,000 $ 10,293 In accordance with the provisions of the accounting standard relating to accounting for uncertain tax positions, the Company classifies its liabilities for income tax exposures as long-term. The Company includes interest and penalties related to unrecognized tax benefits within the Company’s income tax provision. As of December 31, 2016 2015, $0.6 $0.5 December 31, 2016, 2015, 2014, $72,000, $28,000, $1,000, The Company’s total amount of unrecognized tax benefits, excluding interest and penalties, as of December 31, 2016 $11.9 $7.2 December 31, 2016, $2.7 $9.6 $4.8 twelve The Company conducts business globally and, as a result, files numerous consolidated and separate income tax returns in the U.S. federal, various state and foreign jurisdictions. Because the Company used some of the tax attributes carried forward from previous years to tax years that are still open, statutes of limitation remain open for all tax years to the extent of the attributes carried forward into tax year 2002 A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): Amount Gross unrecognized tax benefits, January 1, 2014 $ 10,216 Increases in tax positions for current year 809 Increase in tax positions for prior years — Lapse in statute of limitations (597 ) Gross unrecognized tax benefits, December 31, 2014 10,428 Increases in tax positions for current year 720 Increases in tax positions for prior years 162 Lapse in statute of limitations (331 ) Gross unrecognized tax benefits, December 31, 2015 10,979 Increases in tax positions for current year 1,118 Increases in tax positions for prior years 112 Lapse in statute of limitations (269 ) Gross unrecognized tax benefits, December 31, 2016 $ 11,940 Undistributed earnings of the Company’s foreign subsidiaries of $6.5 Valuation allowance for deferred tax assets is summarized: Balance at Beginning of Period Charged to Costs and Expenses Balance assumed in acquisition Deductions/ Write-offs of Accounts Balance at End of Period Valuation allowance for deferred tax assets 2016 $ 6,205 $ 593 $ 0 $ — $ 6,798 2015 5,433 $ 557 $ 215 $ — $ 6,205 2014 5,087 346 — — 5,433 |
Note 7 - Net Income Per Share
Note 7 - Net Income Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. Basic net income per share is computed by dividing net income by weighted average number of common shares outstanding for the period (excluding outstanding stock options and shares subject to repurchase). Diluted net income per share is computed using the weighted-average number of common shares outstanding for the period plus the potential effect of dilutive securities which are convertible into common shares (using the treasury stock method), except in cases in which the effect would be anti-dilutive. The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share (in thousands except per share amount): Year Ended December 31, 201 6 201 5 201 4 Numerator: Net income $ 9,103 $ 12,407 $ 18,462 Denominator: Basic weighted-average shares outstanding 31,373 31,424 30,743 Effect of dilutive options and restricted stock 1,058 740 1,196 Diluted weighted-average shares outstanding 32,431 32,164 31,939 Net income per share – Basic $ 0.29 $ 0.39 $ 0.60 Net income per share – Diluted $ 0.28 $ 0.39 $ 0.58 The following table sets forth potential shares of common stock that are not included in the diluted net income per share calculation above because to do so would be anti-dilutive for the periods indicated (in thousands): December 31, 201 6 201 5 Outstanding options 134 127 Nonvested shares of restricted stock units 18 714 Employee Stock Purchase Plan 121 255 Total 273 1,096 |
Note 8 - Customer and Geographi
Note 8 - Customer and Geographic Information | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 8. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker, the chief executive officer, reviews discrete financial information presented on a consolidated basis for purposes of regularly making operating decisions, allocation of resources, and assessing financial performance. Accordingly the Company considers itself to be in one The Company had revenues from individual customers in excess of 10% Year Ended December 31, Customer 201 6 201 5 201 4 A 41 % 53 % 52 % B 11 % 12 % 11 % C * * 16 % * represents less than 10% The Company had accounts receivable balances from individual customers in excess of 10% December 31, Customer 201 6 201 5 A 42 % 65 % D 13 % * % * represents less than 10% Revenues from customers by geographic area based on the location of the customers’ work sites are as follows (in thousands): Year Ended December 31, 201 6 201 5 201 4 Revenues Percentage of Revenues Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 38,748 36 % $ 45,082 46 % $ 44,963 44 % Germany 17,253 16 23,198 24 35,142 35 Taiwan 15,216 14 7,862 8 4,500 4 China 11,436 11 1,125 1 53 — South Korea 10,589 10 10,629 11 5,667 6 Rest of the world 14,219 13 10,080 10 9,891 11 Total revenue $ 107,461 100 % $ 97,977 100 % $ 100,163 100 % Long-lived assets, net by geographic area is as follows (in thousands): December 31, 201 6 201 5 United States $ 18,818 $ 10,752 Rest of the world 523 573 Total long-lived assets, net $ 19,341 $ 11,325 |
Note 9 - Financial Instruments
Note 9 - Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 9. Fair value is the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The multiple assumptions used to value financial instruments are referred to as inputs, and a hierarchy for inputs used in measuring fair value is established, that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. These inputs are ranked according to a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three Level 1 Inputs are quoted prices in active markets for identical assets or liabilities. Level 2 Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs which are derived principally from or corroborated by observable market data. Level 3 Inputs are derived from valuation techniques in which one The following table represents the Company’s assets measured at fair value on a recurring basis as of December 31, 2016, Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market mutual funds $ 26,456 $ 26,456 $ — $ — The following table represents the Company’s assets measured at fair value on a recurring basis as of December 31, 2015 Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market mutual funds $ 26,371 $ 26,371 $ — $ — The Company enters into foreign currency forward contracts to reduce the exposure to foreign currency exchange rate fluctuations on certain foreign currency denominated monetary assets and liabilities, primarily on third December 31, 2016, 2015, 2014, $0.4 $0.8 $0.9 The Company carries these derivatives financial instruments on its Consolidated Balance Sheets at their fair values. The Company’s foreign currency forward contracts are classified as Level 2 December 31, 2016, one $6.9 $15,000 |
Note 10 - Employee Benefit Plan
Note 10 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 10. During 1999, 401(k) may 15% |
Note 11 - Selected Quarterly Fi
Note 11 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 11. The following is a summary of the Company’s quarterly consolidated results of operations (unaudited) for the fiscal years ended December 31, 2016 2015. Year Ended December 31, 201 6 Q1 (1) Q2 (1) Q3 (1) Q4 (In thousands, except for per share amounts) Total revenues $ 25,081 $ 26,688 $ 27,259 $ 28,433 Gross profit $ 14,875 $ 16,034 $ 15,807 $ 16,297 Net income $ 2,061 $ 2,133 $ 1,984 $ 2,925 Net income per share: Basic $ 0.07 $ 0.07 $ 0.06 $ 0.09 Diluted $ 0.07 $ 0.07 $ 0.06 $ 0.09 Year Ended December 31, 201 5 Q1 Q2 Q3 Q4 (In thousands, except for per share amounts) Total revenues $ 26,817 $ 23,210 $ 23,878 $ 24,072 Gross profit $ 18,013 $ 13,322 $ 13,626 $ 13,992 Net income $ 5,967 $ 2,149 $ 1,494 $ 2,797 Net income per share: Basic $ 0.19 $ 0.07 $ 0.05 $ 0.09 Diluted $ 0.18 $ 0.07 $ 0.05 $ 0.09 These amounts reflect the adoption of ASU 2016 09, 718): 1 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk The Company primarily sells its technologies and services to companies in Asia, Europe and North America within the semiconductor industry. As of December 31, 2016, two 55% two 52% 2016. December 31, 2015, one 65% two 65% 2015. 8 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash, Cash Equivalents and Short-term Investments 90 three one |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Computer equipment (years) 3 Software (years) 3 Furniture, fixtures, and equipment (years) 5 - 7 Leasehold improvements Shorter of estimated useful life or term of lease |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-lived Assets . may |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill fourth two first second one |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition two Design-to-silicon-yield solutions — Revenues that are derived from Design-to-silicon-yield solutions come from services and software and hardware licenses. The Company recognizes revenue for each element of Design-to-silicon-yield solutions as follows: The Company generates a significant portion of its Design-to-silicon-yield solutions revenue from fixed-price solution implementation service contracts delivered over a specific period of time. These contracts require reliable estimation of costs to perform obligations and the overall scope of each engagement. Revenue under project–based contracts for solution implementation services is recognized as services are performed using percentage of completion method of contract accounting based on costs or labor-hours input method, whichever is the most appropriate measure of the progress towards completion of the contract. Losses on fixed-price solution implementation contracts are recognized in the period when they become probable. Revisions in profit estimates are reflected in the period in which the conditions that require the revisions become known and can be estimated (cumulative catch-up method). During the year ended December 31, 2016, one $0.9 $0.03 On occasion, the Company licenses its software products as a component of its fixed-price service contracts. In such instances, the software products are licensed to customers over a specified term of the agreement with support and maintenance to be provided, if applicable, over the license term. The amount of product and service revenue recognized in a given period is affected by the Company’s judgment as to whether an arrangement includes multiple deliverables and, if so, the Company’s determination of the fair value of each deliverable. In general, vendor-specific objective evidence of selling price (“VSOE”) does not exist for the Company’s solution implementation services and software products and because the Company’s services and products include our unique technology, the Company is not able to determine third In some instances, the Company also licenses its DFI system as a separate component of fixed-price service contracts. The Company allocates revenue to all deliverables based on their relative selling prices. The Company currently does not have VSOE for its DFI system, thus the Company uses either TPE or BESP in the allocation of arrangement consideration. The Company defers certain pre-contract costs incurred for specific anticipated contracts. Deferred costs consist primarily of direct costs to provide solution implementation services in relation to the specific anticipated contracts. The Company recognizes such costs as a component of cost of revenues, the timing of which is dependent upon persuasive evidence of contract arrangement assuming all other revenue recognition criteria are met. The Company also defers costs from arrangements that required us to defer the revenues, typically due to revenue recognition from multi-element arrangements or from contracts subject to customer acceptance. These costs are recognized in proportion to the related revenue. At the end of the reporting period, the Company evaluates its deferred costs for their probable recoverability. The Company recognizes impairment of deferred costs when it is determined that the costs no longer have future benefits and are no longer recoverable. Deferred costs balance was $0.5 zero December 31, 2016 December 31, 2015, December 31, 2014, $1.9 two The Company also licenses its software products separately from solution implementations. For software license arrangements that do not require significant modification or customization of the underlying software, software license revenue is recognized under the residual method when (l) persuasive evidence of an arrangement exists, (2) (3) (4) (5) (1) (2) (3) Revenue from software-as-a-service (SaaS) that allow for the use of a hosted software product or service over a contractually determined period of time without taking possession of software are accounted for as subscriptions and recognized as revenue ratably over the coverage period beginning on the date the service is made available to customers. Revenue for software licenses with extended payment terms is not recognized in excess of amounts due. For software license arrangements that require significant modification or customization of the underlying software, the software license revenue is recognized as services are performed using the percentage of completion method of contract accounting, and such revenue is recorded as services revenue. Deferred revenues consist substantially of amounts invoiced in advance of revenue recognition and is recognized as the revenue recognition criteria are met. Deferred revenues that will be recognized during the succeeding 12 $1.5 $0.3 December 31, 2016 2015. Gainshare Performance Incentives — When the Company enters into a contract to provide yield improvement services, the contract usually includes two (1) (2) may |
Receivables, Policy [Policy Text Block] | Accounts Receivable 12 $20.8 $11.5 December 31, 2016, December 31, 2015, 12 $9.8 $0.1 December 31, 2016 2015, Allowance for doubtful accounts are summarized below: Balance at Beginning of Period Charged to Costs and Expenses Deductions/ Write-offs of Accounts Balance at End of Period Allowance for doubtful accounts 2016 $ 299 $ — $ 99 $ 200 2015 $ 381 $ — $ 82 $ 299 2014 $ 354 $ 27 $ — $ 381 |
Research, Development, and Computer Software, Policy [Policy Text Block] | Software Development Costs six |
Research and Development Expense, Policy [Policy Text Block] | Research and Development |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation four ASU No. 2016 09, 718): fourth 2016, continue to estimate forfeitures expected to occur to determine the amount of compensation expense to be recognized in each period. As stock-based compensation expense recognized is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company has elected to use the Black-Scholes-Merton option-pricing model, which incorporates various assumptions including volatility, expected life and interest rates. The expected volatility is based on the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected life of the Company’s stock options. The expected life of an award is based on historical experience and on the terms and conditions of the stock awards granted to employees. The interest rate assumption is based upon observed Treasury yield curve rates appropriate for the expected life of the Company’s stock options. |
Income Tax, Policy [Policy Text Block] | Income Taxes 50% |
Earnings Per Share, Policy [Policy Text Block] | Net Income Per Share – |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation |
Derivatives, Policy [Policy Text Block] | Derivative Financial Instruments two three |
Legal Costs, Policy [Policy Text Block] | Litigation December 31, 2016, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In March 2016, 2016 09, 718): 718 2016 09 December 15, 2016, fourth 2016, January 1, 2016, The primary impact of adoption of ASU 2016 09 $1,000, $81,000 $(94,000) three March 31, 2016, June 30, 2016, September 30, 2016, $4.9 January 1, 2016, Additionally, the Company adopted the change in presentation in the condensed consolidated statement of cash flows related to excess tax benefits on a prospective basis. Accordingly, prior periods have not been adjusted. The Company also reclassified the presentation related to statutory tax withholding requirements from operating activity to financing activity in its consolidated statement of cash flows retrospectively. The Company elected to continue to estimate forfeitures expected to occur to determine the amount of compensation expense to be recognized in each period. The adoption of this ASU impacted our previously reported quarterly results during fiscal year 2016 March 31, 2016 June 30, 2016 September 30, 2016 (in thousands) As reported As adjusted As reported As adjusted As reported As adjusted (Unaudited) Consolidated Balance Sheets Data: Deferred tax assets $ 10,186 $ 14,761 $ 10,106 $ 14,201 $ 10,201 $ 14,135 Total assets $ 198,217 $ 202,792 $ 202,233 $ 206,328 $ 210,152 $ 214,086 Common stock and additional paid-in capital $ 269,949 $ 269,600 $ 272,891 $ 272,143 $ 277,503 $ 276,500 Accumulated deficit $ (37,718 ) $ (32,794 ) $ (35,504 ) $ (30,661 ) $ (33,614 ) $ (28,677 ) Total stockholders’ equity $ 180,655 $ 185,230 $ 182,716 $ 186,811 $ 188,950 $ 192,884 Total liabilities and stockholders’ equity $ 198,217 $ 202,792 $ 202,233 $ 206,328 $ 210,152 $ 214,086 Three months ended March 31, 2016 Three months ended June 30, 2016 Three months ended September 30, 2016 (in thousands, except percentages and per share amounts) As reported As adjusted As reported As adjusted As reported As adjusted Consolidated Statements of Income Data: (Unaudited) Income tax provision $ 1,025 $ 1,026 $ 1,498 $ 1,579 $ 1,145 $ 1,051 Net income $ 2,062 $ 2,061 $ 2,214 $ 2,133 $ 1,890 $ 1,984 Effective tax rate 33 % 33 % 40 % 43 % 38 % 35 % Net income per share: Basic $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.06 $ 0.06 Diluted $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.06 $ 0.06 Weighted average common shares: Diluted 31,722 31,754 32,023 32,099 32,373 32,578 Three months ended March 31, 2016 Six months ended June 30, 2016 Nine months ended September 30, 2016 Year ended December 31, 2015 Year ended December 31, 2014 (in thousands) As reported As adjusted As reported As adjusted As reported As adjusted As reported As adjusted As reported As adjusted (Unaudited) (Audited) (Audited) Consolidated Statements of Cash Flows Data: Net cash provided by (used in) operating activities $ 3,658 $ 3,998 $ 981 $ 2,765 $ (282 ) $ 1,829 $ 28,526 $ 30,336 $ 27,089 $ 28,666 Net cash provided by (used in) financing activities $ 1,289 $ 950 $ 95 $ (1,688 ) $ (1,458 ) $ (653 ) $ (7,420 ) $ (9,230 ) $ 2,731 $ 1,154 In August 2014, 2014 15, December 15, 2016. In May 2014, 2014 09, 606) 2015 14, 606): 2016 08, 606): 2016 10, 606): ASU No. 2016 11, 605) 815), 2016 12, 606): 2016 20, 606): The new revenue recognition standard provides a five December 15, 2017, two The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In February 2016, 2016 2, 842). December 15, 2018, In August 2016, 2016 15, December 15, 2017, In January 2017, 2017 04, 350) 2017 04"). 2017 04 2 December 15, 2019, |
Note 1 - Business and Signifi19
Note 1 - Business and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property Plant and Equipment Estimated Useful Lives [Table Text Block] | Computer equipment (years) 3 Software (years) 3 Furniture, fixtures, and equipment (years) 5 - 7 Leasehold improvements Shorter of estimated useful life or term of lease |
Summary of Valuation Allowance [Table Text Block] | Balance at Beginning of Period Charged to Costs and Expenses Deductions/ Write-offs of Accounts Balance at End of Period Allowance for doubtful accounts 2016 $ 299 $ — $ 99 $ 200 2015 $ 381 $ — $ 82 $ 299 2014 $ 354 $ 27 $ — $ 381 |
Adjustments to Consolidated Statements of Cash Flows Data [Member] | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Three months ended March 31, 2016 Six months ended June 30, 2016 Nine months ended September 30, 2016 Year ended December 31, 2015 Year ended December 31, 2014 (in thousands) As reported As adjusted As reported As adjusted As reported As adjusted As reported As adjusted As reported As adjusted (Unaudited) (Audited) (Audited) Consolidated Statements of Cash Flows Data: Net cash provided by (used in) operating activities $ 3,658 $ 3,998 $ 981 $ 2,765 $ (282 ) $ 1,829 $ 28,526 $ 30,336 $ 27,089 $ 28,666 Net cash provided by (used in) financing activities $ 1,289 $ 950 $ 95 $ (1,688 ) $ (1,458 ) $ (653 ) $ (7,420 ) $ (9,230 ) $ 2,731 $ 1,154 |
Adjustments to Consolidated Statements of Income Data [Member] | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Three months ended March 31, 2016 Three months ended June 30, 2016 Three months ended September 30, 2016 (in thousands, except percentages and per share amounts) As reported As adjusted As reported As adjusted As reported As adjusted Consolidated Statements of Income Data: (Unaudited) Income tax provision $ 1,025 $ 1,026 $ 1,498 $ 1,579 $ 1,145 $ 1,051 Net income $ 2,062 $ 2,061 $ 2,214 $ 2,133 $ 1,890 $ 1,984 Effective tax rate 33 % 33 % 40 % 43 % 38 % 35 % Net income per share: Basic $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.06 $ 0.06 Diluted $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.06 $ 0.06 Weighted average common shares: Diluted 31,722 31,754 32,023 32,099 32,373 32,578 |
Adjustments to Consolidated Balance Sheets Data [Member] | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | March 31, 2016 June 30, 2016 September 30, 2016 (in thousands) As reported As adjusted As reported As adjusted As reported As adjusted (Unaudited) Consolidated Balance Sheets Data: Deferred tax assets $ 10,186 $ 14,761 $ 10,106 $ 14,201 $ 10,201 $ 14,135 Total assets $ 198,217 $ 202,792 $ 202,233 $ 206,328 $ 210,152 $ 214,086 Common stock and additional paid-in capital $ 269,949 $ 269,600 $ 272,891 $ 272,143 $ 277,503 $ 276,500 Accumulated deficit $ (37,718 ) $ (32,794 ) $ (35,504 ) $ (30,661 ) $ (33,614 ) $ (28,677 ) Total stockholders’ equity $ 180,655 $ 185,230 $ 182,716 $ 186,811 $ 188,950 $ 192,884 Total liabilities and stockholders’ equity $ 198,217 $ 202,792 $ 202,233 $ 206,328 $ 210,152 $ 214,086 |
Note 2 - Property and Equipme20
Note 2 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 201 6 201 5 Computer equipment $ 10,642 $ 9,188 Software 1,679 1,713 Furniture, fixtures, and equipment 1,185 907 Leasehold improvements 1,132 1,126 Test equipment 11,723 7,214 Construction-in-progress 9,550 4,777 35,911 24,925 Accumulated depreciation (16,570 ) (13,600 ) Total $ 19,341 $ 11,325 |
Note 3 - Goodwill and Intangi21
Note 3 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | December 31, 201 6 Balance as of December 31, 2015 $ 215 Add: Goodwill from acquisition - Goodwill adjustment - Balance as of December 31, 2016 $ 215 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2016 December 31, 2015 Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired identifiable intangibles: Customer relationships 1 - 9 $ 5,920 $ (3,825 ) $ 2,095 $ 5,920 $ (3,547 ) $ 2,373 Developed technology 4 - 6 14,100 (12,359 ) 1,741 14,100 (11,976 ) 2,124 Tradename 2 - 4 610 (583 ) 27 610 (533 ) 77 Backlog 1 100 (100 ) - 100 (46 ) 54 Patent 7 - 10 1,800 (1,440 ) 360 1,800 (1,400 ) 400 Other acquired intangibles 4 255 (255 ) - 255 (255 ) - Total $ 22,785 $ (18,562 ) $ 4,223 $ 22,785 $ (17,757 ) $ 5,028 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year Ending December 31, 2017 728 2018 701 2019 701 2020 701 2021 526 2022 and thereafter 866 Total future amortization expense $ 4,223 |
Note 4 - Commitments and Cont22
Note 4 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December 31, 2017 $ 1,914 2018 1,299 2019 436 2020 372 2021 198 2022 and thereafter 72 Total future minimum lease payments $ 4,291 |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Years Ended December 31, 201 6 201 5 201 4 Cost of Design-to-silicon-yield solutions $ 4,427 $ 3,914 $ 3,419 Research and development 3,087 2,275 1,709 Selling, general and administrative 3,488 3,567 3,419 Stock-based compensation expense $ 11,002 $ 9,756 $ 8,547 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Stock Plans Employee Stock Purchase Plan 201 6 201 5 201 4 201 6 201 5 201 4 Expected life (in years) 4.4 4.5 4.6 1.25 1.25 1.25 Volatility 43.2 % 45.8 % 44.0 % 44.0 % 50.1 % 33.4 % Risk-free interest rate 1.34 % 1.37 % 1.54 % 0.50 % 0.34 % 0.21 % Expected dividend — — — — — — |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Outstanding Options Number of Options (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding, January 1, 2014 2,880 7.35 Granted (weighted average fair value of $6.66 per share) 28 17.40 Exercised (509 ) 6.33 Canceled (40 ) 10.03 Expired (7 ) 7.41 Outstanding, December 31, 2014 2,352 7.65 Granted (weighted average fair value of $5.45 per share) 93 13.88 Exercised (655 ) 7.70 Canceled (23 ) 12.95 Expired (3 ) 12.91 Outstanding, December 31, 2015 1,764 7.88 Granted (weighted average fair value of $5.36 per share) 99 14.55 Exercised (393 ) 7.56 Canceled (31 ) 13.82 Expired (75 ) 13.80 Outstanding, December 31, 2016 1,364 8.00 4.41 $ 19,861 Vested and expected to vest, December 31, 2016 1,354 7.94 4.37 $ 19,782 Exercisable, December 31, 2016 1,219 7.21 3.87 $ 18,707 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Shares (in thousands) Weighted- Average Grant-Date Fair Value Nonvested, January 1, 2014 759 14.44 Granted 569 19.42 Vested (350 ) 14.43 Forfeited (37 ) 18.00 Nonvested, December 31, 2014 941 17.38 Granted 720 15.92 Vested (453 ) 15.97 Forfeited (42 ) 17.27 Nonvested, December 31, 2015 1,166 17.03 Granted 963 14.41 Vested (472 ) 17.00 Forfeited (115 ) 15.73 Nonvested, December 31, 2016 1,542 15.50 |
Note 6 - Income Taxes (Tables)
Note 6 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 201 6 201 5 201 4 (In thousands) U.S. Current $ 410 $ 2,022 $ 3,032 Deferred 208 1,549 2,882 Foreign Current 329 341 476 Withholding 2,898 3,089 3,103 Deferred 8 14 4 Total provision $ 3,853 $ 7,015 $ 9,497 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 201 6 201 5 201 4 Federal statutory tax provision $ 4,534 $ 6,798 $ 9,786 State tax provision 283 465 56 Stock compensation expense (1) 45 677 540 Tax credits (4,000 ) (4,166 ) (3,924 ) Foreign tax, net 2,852 3,111 3,170 Change in valuation allowance — — — Other 139 130 (131 ) Tax provision $ 3,853 $ 7,015 $ 9,497 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 201 6 201 5 Deferred tax assets Net operating loss carry forward $ 1,768 $ 1,895 Research and development and other credit carry forward 12,345 5,995 Foreign tax credit carry forward — — Accruals deductible in different periods 3,446 3,046 Intangible assets 2,573 3,078 Stock-based compensation 2,285 2,474 Valuation allowance (6,798 ) (6,205 ) Subtotal $ 15,619 $ 10,283 Deferred tax liabilities Fixed assets (619 ) 10 Net Deferred tax assets $ 15,000 $ 10,293 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Amount Gross unrecognized tax benefits, January 1, 2014 $ 10,216 Increases in tax positions for current year 809 Increase in tax positions for prior years — Lapse in statute of limitations (597 ) Gross unrecognized tax benefits, December 31, 2014 10,428 Increases in tax positions for current year 720 Increases in tax positions for prior years 162 Lapse in statute of limitations (331 ) Gross unrecognized tax benefits, December 31, 2015 10,979 Increases in tax positions for current year 1,118 Increases in tax positions for prior years 112 Lapse in statute of limitations (269 ) Gross unrecognized tax benefits, December 31, 2016 $ 11,940 |
Summary of Valuation Allowance [Table Text Block] | Balance at Beginning of Period Charged to Costs and Expenses Deductions/ Write-offs of Accounts Balance at End of Period Allowance for doubtful accounts 2016 $ 299 $ — $ 99 $ 200 2015 $ 381 $ — $ 82 $ 299 2014 $ 354 $ 27 $ — $ 381 |
Valuation Allowance of Deferred Tax Assets [Member] | |
Notes Tables | |
Summary of Valuation Allowance [Table Text Block] | Balance at Beginning of Period Charged to Costs and Expenses Balance assumed in acquisition Deductions/ Write-offs of Accounts Balance at End of Period Valuation allowance for deferred tax assets 2016 $ 6,205 $ 593 $ 0 $ — $ 6,798 2015 5,433 $ 557 $ 215 $ — $ 6,205 2014 5,087 346 — — 5,433 |
Note 7 - Net Income Per Share (
Note 7 - Net Income Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 201 6 201 5 201 4 Numerator: Net income $ 9,103 $ 12,407 $ 18,462 Denominator: Basic weighted-average shares outstanding 31,373 31,424 30,743 Effect of dilutive options and restricted stock 1,058 740 1,196 Diluted weighted-average shares outstanding 32,431 32,164 31,939 Net income per share – Basic $ 0.29 $ 0.39 $ 0.60 Net income per share – Diluted $ 0.28 $ 0.39 $ 0.58 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | December 31, 201 6 201 5 Outstanding options 134 127 Nonvested shares of restricted stock units 18 714 Employee Stock Purchase Plan 121 255 Total 273 1,096 |
Note 8 - Customer and Geograp26
Note 8 - Customer and Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Year Ended December 31, Customer 201 6 201 5 201 4 A 41 % 53 % 52 % B 11 % 12 % 11 % C * * 16 % |
Receivables by Major Customers [Table Text Block] | December 31, Customer 201 6 201 5 A 42 % 65 % D 13 % * % |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Year Ended December 31, 201 6 201 5 201 4 Revenues Percentage of Revenues Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 38,748 36 % $ 45,082 46 % $ 44,963 44 % Germany 17,253 16 23,198 24 35,142 35 Taiwan 15,216 14 7,862 8 4,500 4 China 11,436 11 1,125 1 53 — South Korea 10,589 10 10,629 11 5,667 6 Rest of the world 14,219 13 10,080 10 9,891 11 Total revenue $ 107,461 100 % $ 97,977 100 % $ 100,163 100 % |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | December 31, 201 6 201 5 United States $ 18,818 $ 10,752 Rest of the world 523 573 Total long-lived assets, net $ 19,341 $ 11,325 |
Note 9 - Financial Instruments
Note 9 - Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market mutual funds $ 26,456 $ 26,456 $ — $ — Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market mutual funds $ 26,371 $ 26,371 $ — $ — |
Note 11 - Selected Quarterly 28
Note 11 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Year Ended December 31, 201 6 Q1 (1) Q2 (1) Q3 (1) Q4 (In thousands, except for per share amounts) Total revenues $ 25,081 $ 26,688 $ 27,259 $ 28,433 Gross profit $ 14,875 $ 16,034 $ 15,807 $ 16,297 Net income $ 2,061 $ 2,133 $ 1,984 $ 2,925 Net income per share: Basic $ 0.07 $ 0.07 $ 0.06 $ 0.09 Diluted $ 0.07 $ 0.07 $ 0.06 $ 0.09 Year Ended December 31, 201 5 Q1 Q2 Q3 Q4 (In thousands, except for per share amounts) Total revenues $ 26,817 $ 23,210 $ 23,878 $ 24,072 Gross profit $ 18,013 $ 13,322 $ 13,626 $ 13,992 Net income $ 5,967 $ 2,149 $ 1,494 $ 2,797 Net income per share: Basic $ 0.19 $ 0.07 $ 0.05 $ 0.09 Diluted $ 0.18 $ 0.07 $ 0.05 $ 0.09 |
Note 1 - Business and Signifi29
Note 1 - Business and Significant Accounting Policies (Details Textual) | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Impact of Estimates Revisions on Net Income | $ 900,000 | |||||
Impact of Estimates Revisions on Earnings per Share, Diluted | $ / shares | $ 0.03 | |||||
Deferred Pre-contract Costs | $ 500,000 | $ 0 | ||||
Impairment of Deferred Costs | $ 1,892,000 | |||||
Number of Impaired Contracts | 2 | |||||
Unbilled Receivables, Current | $ 20,800,000 | 11,500,000 | ||||
Unbilled Receivables, Not Billable, Amount Expected to be Collected after Next Twelve Months | $ 9,800,000 | 100,000 | ||||
Capitalized Computer Software, Useful Life | 6 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||
Income Tax Expense (Benefit) | 1,051,000 | $ 1,579,000 | $ 1,026,000 | $ 3,853,000 | 7,015,000 | $ 9,497,000 |
Accounting Standards Update 2016-09 [Member] | ||||||
Cumulative Effect on Retained Earnings, Net of Tax | 4,925,000 | |||||
Accounting Standards Update 2016-09 [Member] | Restatement Adjustment [Member] | ||||||
Income Tax Expense (Benefit) | $ (94,000) | $ 81,000 | $ 1,000 | |||
Other Noncurrent Liabilities [Member] | ||||||
Deferred Revenue, Noncurrent | $ 1,500,000 | $ 300,000 | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Two Customers [Member] | ||||||
Concentration Risk, Percentage | 55.00% | |||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member] | ||||||
Concentration Risk, Percentage | 65.00% | |||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Two Customers [Member] | ||||||
Concentration Risk, Percentage | 52.00% | 65.00% |
Note 1 - Business and Signifi30
Note 1 - Business and Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Computer Equipment [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Software and Software Development Costs [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 7 years |
Leasehold Improvements [Member] | |
Leasehold improvements | Shorter of estimated useful life or term of lease |
Note 1 - Business and Signifi31
Note 1 - Business and Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - Allowance for Doubtful Accounts [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Allowance for doubtful accounts | |||
Balance at Beginning of Period | $ 299 | $ 381 | $ 354 |
Charged to Costs and Expenses | 27 | ||
Deductions/ Write-offs of Accounts | 99 | 82 | |
Balance at End of Period | $ 200 | $ 299 | $ 381 |
Note 1 - Business and Signifi32
Note 1 - Business and Significant Accounting Policies - Reconciliation of Adjustments to Consolidated Balance Sheet Data (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Deferred tax assets | $ 15,640 | $ 14,135 | $ 14,201 | $ 14,761 | $ 10,299 | ||
Total assets | 222,329 | 214,086 | 206,328 | 202,792 | 191,769 | ||
Common stock and additional paid-in capital | 276,500 | 272,143 | 269,600 | ||||
Accumulated deficit | (25,752) | (28,677) | (30,661) | (32,794) | (39,780) | ||
Total stockholders’ equity | 198,803 | 192,884 | 186,811 | 185,230 | 174,307 | $ 161,823 | $ 134,712 |
Total liabilities and stockholders’ equity | $ 222,329 | 214,086 | 206,328 | 202,792 | $ 191,769 | ||
Scenario, Previously Reported [Member] | |||||||
Deferred tax assets | 10,201 | 10,106 | 10,186 | ||||
Total assets | 210,152 | 202,233 | 198,217 | ||||
Common stock and additional paid-in capital | 277,503 | 272,891 | 269,949 | ||||
Accumulated deficit | (33,614) | (35,504) | (37,718) | ||||
Total stockholders’ equity | 188,950 | 182,716 | 180,655 | ||||
Total liabilities and stockholders’ equity | $ 210,152 | $ 202,233 | $ 198,217 |
Note 1 - Business and Signifi33
Note 1 - Business and Significant Accounting Policies - Reconciliation of Adjustments to Consolidated Statements of Income Data (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Expense (Benefit) | $ 1,051 | $ 1,579 | $ 1,026 | $ 3,853 | $ 7,015 | $ 9,497 | |||||
Net income | $ 2,925 | $ 1,984 | $ 2,133 | $ 2,061 | $ 2,797 | $ 1,494 | $ 2,149 | $ 5,967 | $ 9,103 | $ 12,407 | $ 18,462 |
Effective tax rate | 35.00% | 43.00% | 33.00% | ||||||||
Net income per share | |||||||||||
Basic (in dollars per share) | $ 0.09 | $ 0.06 | $ 0.07 | $ 0.07 | $ 0.09 | $ 0.05 | $ 0.07 | $ 0.19 | $ 0.29 | $ 0.39 | $ 0.60 |
Diluted (in dollars per share) | $ 0.09 | $ 0.06 | $ 0.07 | $ 0.07 | $ 0.09 | $ 0.05 | $ 0.07 | $ 0.18 | $ 0.28 | $ 0.39 | $ 0.58 |
Weighted average common shares | |||||||||||
Diluted (in shares) | 32,578 | 32,099 | 31,754 | 32,431 | 32,164 | 31,939 | |||||
Scenario, Previously Reported [Member] | |||||||||||
Income Tax Expense (Benefit) | $ 1,145 | $ 1,498 | $ 1,025 | ||||||||
Net income | $ 1,890 | $ 2,214 | $ 2,062 | ||||||||
Effective tax rate | 38.00% | 40.00% | 33.00% | ||||||||
Net income per share | |||||||||||
Basic (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.07 | ||||||||
Diluted (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.07 | ||||||||
Weighted average common shares | |||||||||||
Diluted (in shares) | 32,373 | 32,023 | 31,722 |
Note 1 - Business and Signifi34
Note 1 - Business and Significant Accounting Policies - Reconciliation of Adjustments to Consolidated Statements of Cash Flows Data (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Jun. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net cash provided by (used in) operating activities | $ 3,998 | $ 2,765 | $ 1,829 | $ 2,000 | $ 30,336 | $ 28,666 |
Net cash provided by (used in) financing activities | 950 | (1,688) | (653) | $ 30 | (9,230) | 1,154 |
Scenario, Previously Reported [Member] | ||||||
Net cash provided by (used in) operating activities | 3,658 | 981 | (282) | 28,526 | 27,089 | |
Net cash provided by (used in) financing activities | $ 1,289 | $ 95 | $ (1,458) | $ (7,420) | $ 2,731 |
Note 2 - Property and Equipme35
Note 2 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Depreciation, Depletion and Amortization, Nonproduction | $ 3.6 | $ 2.6 | $ 2 |
Note 2 - Property and Equipme36
Note 2 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property and equipment | $ 35,911 | $ 24,925 |
Accumulated depreciation | (16,570) | (13,600) |
Total | 19,341 | 11,325 |
Computer Equipment [Member] | ||
Property and equipment | 10,642 | 9,188 |
Software and Software Development Costs [Member] | ||
Property and equipment | 1,679 | 1,713 |
Furniture and Fixtures [Member] | ||
Property and equipment | 1,185 | 907 |
Leasehold Improvements [Member] | ||
Property and equipment | 1,132 | 1,126 |
Test Equipment [Member] | ||
Property and equipment | 11,723 | 7,214 |
Construction in Progress [Member] | ||
Property and equipment | $ 9,550 | $ 4,777 |
Note 3 - Goodwill and Intangi37
Note 3 - Goodwill and Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill | $ 215,000 | $ 215,000 | |
Finite-Lived Intangible Assets, Net | $ 4,223,000 | 5,028,000 | |
Finite-Lived Intangible Assets, Remaining Amortization Period | 6 years 142 days | ||
Amortization of Intangible Assets | $ 805,000 | $ 372,000 | $ 31,000 |
Impairment of Intangible Assets, Finite-lived | $ 0 |
Note 3 - Goodwill and Intangi38
Note 3 - Goodwill and Intangible Assets - Goodwill Activity (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Balance | $ 215 |
Balance | 215 |
Syntricity [Member] | |
Balance | 215 |
Add: Goodwill from acquisition | |
Goodwill adjustment | |
Balance | $ 215 |
Note 3 - Goodwill and Intangi39
Note 3 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Gross Carrying Amount | $ 22,785 | $ 22,785 |
Accumulated Amortization | (18,562) | (17,757) |
Finite-Lived Intangible Assets, Net | 4,223 | 5,028 |
Customer Relationships [Member] | ||
Gross Carrying Amount | 5,920 | 5,920 |
Accumulated Amortization | (3,825) | (3,547) |
Finite-Lived Intangible Assets, Net | $ 2,095 | 2,373 |
Customer Relationships [Member] | Minimum [Member] | ||
Amortization Period (Year) | 1 year | |
Customer Relationships [Member] | Maximum [Member] | ||
Amortization Period (Year) | 9 years | |
Developed Technology Rights [Member] | ||
Gross Carrying Amount | $ 14,100 | 14,100 |
Accumulated Amortization | (12,359) | (11,976) |
Finite-Lived Intangible Assets, Net | $ 1,741 | 2,124 |
Developed Technology Rights [Member] | Minimum [Member] | ||
Amortization Period (Year) | 4 years | |
Developed Technology Rights [Member] | Maximum [Member] | ||
Amortization Period (Year) | 6 years | |
Trade Names [Member] | ||
Gross Carrying Amount | $ 610 | 610 |
Accumulated Amortization | (583) | (533) |
Finite-Lived Intangible Assets, Net | $ 27 | 77 |
Trade Names [Member] | Minimum [Member] | ||
Amortization Period (Year) | 2 years | |
Trade Names [Member] | Maximum [Member] | ||
Amortization Period (Year) | 4 years | |
Order or Production Backlog [Member] | ||
Amortization Period (Year) | 1 year | |
Gross Carrying Amount | $ 100 | 100 |
Accumulated Amortization | (100) | (46) |
Finite-Lived Intangible Assets, Net | 54 | |
Patents [Member] | ||
Gross Carrying Amount | 1,800 | 1,800 |
Accumulated Amortization | (1,440) | (1,400) |
Finite-Lived Intangible Assets, Net | $ 360 | 400 |
Patents [Member] | Minimum [Member] | ||
Amortization Period (Year) | 7 years | |
Patents [Member] | Maximum [Member] | ||
Amortization Period (Year) | 10 years | |
Other Intangible Assets [Member] | ||
Amortization Period (Year) | 4 years | |
Gross Carrying Amount | $ 255 | 255 |
Accumulated Amortization | (255) | (255) |
Finite-Lived Intangible Assets, Net |
Note 3 - Balance Sheet Componen
Note 3 - Balance Sheet Components - Annual Amortization of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
2,017 | $ 728 | |
2,018 | 701 | |
2,019 | 701 | |
2,020 | 701 | |
2,021 | 526 | |
2022 and thereafter | 866 | |
Total future amortization expense | $ 4,223 | $ 5,028 |
Note 4 - Commitments and Cont41
Note 4 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases, Rent Expense, Net | $ 2,200 | $ 2,100 | $ 2,100 |
Purchase Obligation, Due in Next Twelve Months | 7,900 | ||
Loss Contingency Accrual | $ 0 |
Note 4 - Commitments and Cont42
Note 4 - Commitments and Contingencies - Future Minimum Lease Payments Under Noncancelable Operating Leases (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 1,914 |
2,018 | 1,299 |
2,019 | 436 |
2,020 | 372 |
2,021 | 198 |
2022 and thereafter | 72 |
Total future minimum lease payments | $ 4,291 |
Note 5 - Stockholders' Equity43
Note 5 - Stockholders' Equity (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 23 Months Ended | |||||
Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2016 | Oct. 25, 2016 | Oct. 21, 2014 | Dec. 31, 2013 | |
Allocated Share-based Compensation Expense | $ 11,002,000 | $ 9,756,000 | $ 8,547,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 31,000 | 23,000 | 40,000 | ||||||
Share Price | $ 22.55 | $ 22.55 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 4,400,000 | $ 6,200,000 | $ 6,700,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 700,000 | 700,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 600,000 | ||||||||
Stock Repurchase Program, Authorized Amount | $ 25,000,000 | $ 25,000,000 | |||||||
Treasury Stock, Shares, Acquired | 0 | 149,457 | 1,239,230 | ||||||
Treasury Stock Acquired, Average Cost Per Share | $ 13.48 | ||||||||
Treasury Stock, Value, Acquired, Cost Method | 2,182,000 | $ 14,525,000 | $ 3,566,000 | $ 16,700,000 | |||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 25,000,000 | $ 25,000,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1,364,000 | 1,364,000 | 1,764,000 | 2,352,000 | 2,880,000 | ||||
Twenty Eleven Stock Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 7,800,000 | 7,800,000 | |||||||
Share Based Compensation Arrangement By Share Based Payment Award Shares Reserved Decrease Rate | 1.33 | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 8,300,000 | 8,300,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,500,000 | 3,500,000 | |||||||
Shares Previously Issued Under the 2001 Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,500,000 | 3,500,000 | |||||||
Two Thousand One Stock Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 500,000 | ||||||||
Employee Stock Purchase Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 7,500,000 | 7,500,000 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 800,000 | $ 800,000 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 54 days | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | 10.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | ||||||||
ESPP Maximum Annual Share Replenishment | 675,000 | ||||||||
ESPP Maximum Annual Share Replenishment Percentage of Prior Year Outstanding Company Common Stock | 2.00% | ||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 173,000 | 110,000 | 114,000 | ||||||
Employee Stock Purchase Plan Weighted Average Purchase Price of Shares Purchased | $ 9 | $ 12.57 | $ 12.62 | ||||||
Number Of ESPP Shares Available For Future Issuance | 3,900,000 | 3,900,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 3.69 | $ 5.51 | $ 6.41 | ||||||
Outside of the 2011, 2001 or IDS Plans [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 0 | 0 | |||||||
Stock Appreciation Rights (SARs) [Member] | |||||||||
Allocated Share-based Compensation Expense | $ 116,000 | $ 34,000 | |||||||
Allocated Share-based Compensation Credit | $ 5,000 | ||||||||
Employee Stock Option [Member] | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 14 days | ||||||||
Employee Stock Option [Member] | Twenty Eleven Stock Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||
Employee Stock Option [Member] | IDS Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||
Restricted Stock [Member] | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 292 days | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 20,000,000 | $ 20,000,000 |
Note 5 - Stockholders' Equity -
Note 5 - Stockholders' Equity - Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Allocation of recognized period costs | $ 11,002 | $ 9,756 | $ 8,547 |
Cost of Sales [Member] | |||
Allocation of recognized period costs | 4,427 | 3,914 | 3,419 |
Research and Development Expense [Member] | |||
Allocation of recognized period costs | 3,087 | 2,275 | 1,709 |
Selling, General and Administrative Expenses [Member] | |||
Allocation of recognized period costs | $ 3,488 | $ 3,567 | $ 3,419 |
Note 5 - Stockholders' Equity45
Note 5 - Stockholders' Equity - Stock Options, Valuation Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Stock Plans [Member] | |||
Expected life (Year) | 4 years 146 days | 4 years 182 days | 4 years 219 days |
Volatility | 43.20% | 45.80% | 44.00% |
Risk-free interest rate | 1.34% | 1.37% | 1.54% |
Expected dividend | 0.00% | 0.00% | 0.00% |
Employee Stock Purchase Plan [Member] | |||
Expected life (Year) | 1 year 91 days | 1 year 91 days | 1 year 91 days |
Volatility | 44.00% | 50.10% | 33.40% |
Risk-free interest rate | 0.50% | 0.34% | 0.21% |
Expected dividend | 0.00% | 0.00% | 0.00% |
Note 5 - Stockholders' Equity46
Note 5 - Stockholders' Equity - Stock Options Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Outstanding, January 1, 2014 (in shares) | 1,764 | 2,352 | 2,880 |
Outstanding, January 1, 2014 (in dollars per share) | $ 7.88 | $ 7.65 | $ 7.35 |
Granted (weighted average fair value of $6.66 per share) (in shares) | 99 | 93 | 28 |
Granted (weighted average fair value of $6.66 per share) (in dollars per share) | $ 14.55 | $ 13.88 | $ 17.40 |
Exercised (in shares) | (393) | (655) | (509) |
Exercised (in dollars per share) | $ 7.56 | $ 7.70 | $ 6.33 |
Canceled (in shares) | (31) | (23) | (40) |
Canceled (in dollars per share) | $ 13.82 | $ 12.95 | $ 10.03 |
Expired (in shares) | (75) | (3) | (7) |
Expired (in dollars per share) | $ 13.80 | $ 12.91 | $ 7.41 |
Outstanding, December 31, 2014 (in shares) | 1,364 | 1,764 | 2,352 |
Outstanding, December 31, 2014 (in dollars per share) | $ 8 | $ 7.88 | $ 7.65 |
Outstanding, December 31, 2016 (Year) | 4 years 149 days | ||
Outstanding, December 31, 2016 | $ 19,861 | ||
Vested and expected to vest, December 31, 2016 (in shares) | 1,354 | ||
Vested and expected to vest, December 31, 2016 (in dollars per share) | $ 7.94 | ||
Vested and expected to vest, December 31, 2016 (Year) | 4 years 135 days | ||
Vested and expected to vest, December 31, 2016 | $ 19,782 | ||
Exercisable, December 31, 2016 (in shares) | 1,219 | ||
Exercisable, December 31, 2016 (in dollars per share) | $ 7.21 | ||
Exercisable, December 31, 2016 (Year) | 3 years 317 days | ||
Exercisable, December 31, 2016 | $ 18,707 |
Note 5 - Stockholders' Equity47
Note 5 - Stockholders' Equity - Nonvested Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Nonvested, Balance (in shares) | 1,166 | 941 | 759 |
Nonvested, Balance (in dollars per share) | $ 17.03 | $ 17.38 | $ 14.44 |
Granted (in shares) | 963 | 720 | 569 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 14.41 | $ 15.92 | $ 19.42 |
Vested (in shares) | (472) | (453) | (350) |
Vested (in dollars per share) | $ 17 | $ 15.97 | $ 14.43 |
Forfeited (in shares) | (115) | (42) | (37) |
Forfeited (in dollars per share) | $ 15.73 | $ 17.27 | $ 18 |
Nonvested, Balance (in shares) | 1,542 | 1,166 | 941 |
Nonvested, Balance (in dollars per share) | $ 15.50 | $ 17.03 | $ 17.38 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jul. 17, 2015 | Dec. 31, 2013 | |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ 11,300,000 | $ 17,700,000 | $ 26,200,000 | ||
Income (Loss) from Continuing Operations before Income Taxes, Foreign | $ 1,600,000 | 1,700,000 | 1,800,000 | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | ||||
Deferred Tax Assets, Valuation Allowance | $ 6,798,000 | 6,205,000 | |||
Deferred Tax Assets, Net | 15,000,000 | 10,293,000 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 600,000 | 500,000 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 72,000 | 28,000 | 1,000 | ||
Unrecognized Tax Benefits | 11,940,000 | 10,979,000 | $ 10,428,000 | $ 10,216,000 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 7,200,000 | ||||
Unrecognized Tax Benefits In Long Term Liabilities | 2,700,000 | ||||
Unrecognized Tax Benefits In Deferred Tax Assets | 9,600,000 | ||||
Unrecognized Tax Benefits In Deferred Tax Asset Subject To Full Valuation Allowance | 4,800,000 | ||||
Undistributed Earnings of Foreign Subsidiaries | 6,500,000 | ||||
Domestic Tax Authority [Member] | |||||
Tax Credit Carryforward, Amount | 10,700,000 | ||||
Unrecorded Windfall Deductions | 4,800,000 | ||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||
Operating Loss Carryforwards | 3,200,000 | ||||
State and Local Jurisdiction [Member] | |||||
Tax Credit Carryforward, Amount | 14,900,000 | ||||
Unrecorded Windfall Deductions | 63,000 | ||||
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | |||||
Operating Loss Carryforwards | 7,100,000 | ||||
Deferred Tax Assets, Valuation Allowance | $ 6,700,000 | $ 6,000,000 | |||
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | Syntricity [Member] | |||||
Operating Loss Carryforwards | $ 100,000 |
Note 6 - Income Taxes - Income
Note 6 - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
U.S. | ||||||
Current | $ 410 | $ 2,022 | $ 3,032 | |||
Deferred | 208 | 1,549 | 2,882 | |||
Foreign | ||||||
Current | 329 | 341 | 476 | |||
Withholding | 2,898 | 3,089 | 3,103 | |||
Deferred | 8 | 14 | 4 | |||
Tax provision | $ 1,051 | $ 1,579 | $ 1,026 | $ 3,853 | $ 7,015 | $ 9,497 |
Note 6 - Income Taxes - Incom50
Note 6 - Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Federal statutory tax provision | $ 4,534 | $ 6,798 | $ 9,786 | |||
State tax provision | 283 | 465 | 56 | |||
Stock compensation expense (1) | 45 | 677 | 540 | |||
Tax credits | (4,000) | (4,166) | (3,924) | |||
Foreign tax, net | 2,852 | 3,111 | 3,170 | |||
Change in valuation allowance | ||||||
Other | 139 | 130 | (131) | |||
Tax provision | $ 1,051 | $ 1,579 | $ 1,026 | $ 3,853 | $ 7,015 | $ 9,497 |
Note 6 - Income Taxes - Deferre
Note 6 - Income Taxes - Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets | ||
Net operating loss carry forward | $ 1,768,000 | $ 1,895,000 |
Research and development and other credit carry forward | 12,345,000 | 5,995,000 |
Foreign tax credit carry forward | ||
Accruals deductible in different periods | 3,446,000 | 3,046,000 |
Intangible assets | 2,573,000 | 3,078,000 |
Stock-based compensation | 2,285,000 | 2,474,000 |
Valuation allowance | (6,798,000) | (6,205,000) |
Subtotal | 15,619,000 | 10,283,000 |
Deferred tax liabilities | ||
Fixed assets | (619,000) | 10,000 |
Net Deferred tax assets | $ 15,000,000 | $ 10,293,000 |
Note 6 - Income Taxes - Unrecog
Note 6 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Gross unrecognized tax benefits | $ 10,979 | $ 10,428 | $ 10,216 |
Increases in tax positions for current year | 1,118 | 720 | 809 |
Increase in tax positions for prior years | 112 | 162 | |
Lapse in statute of limitations | (269) | (331) | (597) |
Gross unrecognized tax benefits | $ 11,940 | $ 10,979 | $ 10,428 |
Note 6 - Income Taxes - Valuati
Note 6 - Income Taxes - Valuation Allowance of Deferred Tax Assets (Details) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance at Beginning of Period | $ 6,205 | $ 5,433 | $ 5,087 |
Charged to Costs and Expenses | 593 | 557 | 346 |
Balance assumed in acquisition | 0 | 215 | |
Deductions/ Write-offs of Accounts | |||
Balance at End of Period | $ 6,798 | $ 6,205 | $ 5,433 |
Note 7 - Net Income Per Share -
Note 7 - Net Income Per Share - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 2,925 | $ 1,984 | $ 2,133 | $ 2,061 | $ 2,797 | $ 1,494 | $ 2,149 | $ 5,967 | $ 9,103 | $ 12,407 | $ 18,462 |
Basic weighted-average shares outstanding (in shares) | 31,373 | 31,424 | 30,743 | ||||||||
Effect of dilutive options and restricted stock (in shares) | 1,058 | 740 | 1,196 | ||||||||
Diluted weighted-average shares outstanding (in shares) | 32,578 | 32,099 | 31,754 | 32,431 | 32,164 | 31,939 | |||||
Basic (in dollars per share) | $ 0.09 | $ 0.06 | $ 0.07 | $ 0.07 | $ 0.09 | $ 0.05 | $ 0.07 | $ 0.19 | $ 0.29 | $ 0.39 | $ 0.60 |
Diluted (in dollars per share) | $ 0.09 | $ 0.06 | $ 0.07 | $ 0.07 | $ 0.09 | $ 0.05 | $ 0.07 | $ 0.18 | $ 0.28 | $ 0.39 | $ 0.58 |
Note 7 - Net Income Per Share55
Note 7 - Net Income Per Share - Antidilutive Securities (Details) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Antidilutive securities (in shares) | 273 | 1,096 |
Employee Stock Option [Member] | ||
Antidilutive securities (in shares) | 134 | 127 |
Restricted Stock Units RSU Nonvested [Member] | ||
Antidilutive securities (in shares) | 18 | 714 |
Employee Stock Purchase Plan [Member] | ||
Antidilutive securities (in shares) | 121 | 255 |
Note 8 - Customer and Geograp56
Note 8 - Customer and Geographic Information (Details Textual) | 12 Months Ended |
Dec. 31, 2016 | |
Number of Operating Segments | 1 |
Number of Reportable Segments | 1 |
Note 8 - Customer and Geograp57
Note 8 - Customer and Geographic Information - Revenue Percentage by Major Customers (Details) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member] | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Customer A [Member] | ||||
Revenue Percentage by Major Customer | 41.00% | 53.00% | 52.00% | |
Customer B [Member] | ||||
Revenue Percentage by Major Customer | 11.00% | 12.00% | 11.00% | |
Customer C [Member] | ||||
Revenue Percentage by Major Customer | [1] | 16.00% | ||
[1] | represents less than 10% |
Note 8 - Customer and Geograp58
Note 8 - Customer and Geographic Information - Receivables Percentage by Major Customers (Details) - Customer Concentration Risk [Member] - Accounts Receivable [Member] | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Customer A [Member] | |||
Revenue Percentage by Major Customer | 42.00% | 65.00% | |
Customer D [Member] | |||
Revenue Percentage by Major Customer | [1] | 13.00% | |
[1] | represents less than 10% |
Note 8 - Customer and Geograp59
Note 8 - Customer and Geographic Information - Revenues by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues | $ 28,433 | $ 27,259 | $ 26,688 | $ 25,081 | $ 24,072 | $ 23,878 | $ 23,210 | $ 26,817 | $ 107,461 | $ 97,977 | $ 100,163 |
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | |||||||||||
Revenues | $ 107,461 | $ 97,977 | $ 100,163 | ||||||||
Concentration Risk, Percentage | 100.00% | 100.00% | 100.00% | ||||||||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | UNITED STATES | |||||||||||
Revenues | $ 38,748 | $ 45,082 | $ 44,963 | ||||||||
Concentration Risk, Percentage | 36.00% | 46.00% | 44.00% | ||||||||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | GERMANY | |||||||||||
Revenues | $ 17,253 | $ 23,198 | $ 35,142 | ||||||||
Concentration Risk, Percentage | 16.00% | 24.00% | 35.00% | ||||||||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | TAIWAN, PROVINCE OF CHINA | |||||||||||
Revenues | $ 15,216 | $ 7,862 | $ 4,500 | ||||||||
Concentration Risk, Percentage | 14.00% | 8.00% | 4.00% | ||||||||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | CHINA | |||||||||||
Revenues | $ 11,436 | $ 1,125 | $ 53 | ||||||||
Concentration Risk, Percentage | 11.00% | 1.00% | |||||||||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | KOREA, REPUBLIC OF | |||||||||||
Revenues | $ 10,589 | $ 10,629 | $ 5,667 | ||||||||
Concentration Risk, Percentage | 10.00% | 11.00% | 6.00% | ||||||||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | Rest of the World [Member] | |||||||||||
Revenues | $ 14,219 | $ 10,080 | $ 9,891 | ||||||||
Concentration Risk, Percentage | 13.00% | 10.00% | 11.00% |
Note 8 - Customer and Geograp60
Note 8 - Customer and Geographic Information - Long-lived Assets by Geographic Area (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Long-lived assets | $ 19,341 | $ 11,325 |
UNITED STATES | ||
Long-lived assets | 18,818 | 10,752 |
Rest of the World [Member] | ||
Long-lived assets | $ 523 | $ 573 |
Note 9 - Financial Instrument61
Note 9 - Financial Instruments (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative Asset, Notional Amount | $ 6,900,000 | ||
Other Current Liabilities [Member] | |||
Derivative Liability, Current | 15,000 | ||
Foreign Exchange Contract [Member] | |||
Derivative, Gain (Loss) on Derivative, Net | $ 400,000 | $ 800,000 | $ 900,000 |
Note 9 - Financial Instrument62
Note 9 - Financial Instruments - Fair Value, Assets Measured on a Recurring Basis (Details) - Money Market Funds [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Money market mutual funds | $ 26,456 | $ 26,371 |
Fair Value, Inputs, Level 1 [Member] | ||
Money market mutual funds | 26,456 | 26,371 |
Fair Value, Inputs, Level 2 [Member] | ||
Money market mutual funds | ||
Fair Value, Inputs, Level 3 [Member] | ||
Money market mutual funds |
Note 10 - Employee Benefit Pl63
Note 10 - Employee Benefit Plan (Details Textual) | 12 Months Ended |
Dec. 31, 2016 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 15.00% |
Note 11 - Selected Quarterly 64
Note 11 - Selected Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues | $ 28,433 | $ 27,259 | $ 26,688 | $ 25,081 | $ 24,072 | $ 23,878 | $ 23,210 | $ 26,817 | $ 107,461 | $ 97,977 | $ 100,163 |
Gross profit | 16,297 | 15,807 | 16,034 | 14,875 | 13,992 | 13,626 | 13,322 | 18,013 | 63,013 | 58,954 | 60,449 |
Net income | $ 2,925 | $ 1,984 | $ 2,133 | $ 2,061 | $ 2,797 | $ 1,494 | $ 2,149 | $ 5,967 | $ 9,103 | $ 12,407 | $ 18,462 |
Basic (in dollars per share) | $ 0.09 | $ 0.06 | $ 0.07 | $ 0.07 | $ 0.09 | $ 0.05 | $ 0.07 | $ 0.19 | $ 0.29 | $ 0.39 | $ 0.60 |
Diluted (in dollars per share) | $ 0.09 | $ 0.06 | $ 0.07 | $ 0.07 | $ 0.09 | $ 0.05 | $ 0.07 | $ 0.18 | $ 0.28 | $ 0.39 | $ 0.58 |