Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 05, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Trading Symbol | 'CEVA | ' |
Entity Registrant Name | 'CEVA INC | ' |
Entity Central Index Key | '0001173489 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 20,467,876 |
INTERIM_CONDENSED_CONSOLIDATED
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $22,893 | $24,117 |
Short term bank deposits | 57,594 | 41,947 |
Marketable securities | 42,863 | 68,464 |
Trade receivables | 5,070 | 5,629 |
Deferred tax assets | 3,584 | 3,457 |
Prepaid expenses and other current assets | 2,672 | 1,996 |
Total current assets | 134,676 | 145,610 |
Long term bank deposits | 16,040 | 17,066 |
Severance pay fund | 7,580 | 7,215 |
Deferred tax assets | 997 | 955 |
Property and equipment, net | 1,463 | 1,616 |
Goodwill | 36,498 | 36,498 |
Investments in other companies | 3,367 | 3,367 |
Total long-term assets | 65,945 | 66,717 |
Total assets | 200,621 | 212,327 |
Current liabilities: | ' | ' |
Trade payables | 894 | 1,085 |
Deferred revenues | 762 | 623 |
Accrued expenses and other payables | 2,211 | 2,955 |
Accrued payroll and related benefits | 5,752 | 7,681 |
Income taxes payable, net | 1,911 | 1,833 |
Total current liabilities | 11,530 | 14,177 |
Long term liabilities: | ' | ' |
Accrued severance pay | 7,677 | 7,255 |
Stockholders' equity: | ' | ' |
Preferred Stock: $0.001 par value: 5,000,000 shares authorized; none issued and outstanding | 0 | 0 |
Common Stock: $0.001 par value: 60,000,000 shares authorized; 23,595,160 shares issued at June 30, 2014 and December 31, 2013. 20,401,090 and 21,181,730 shares outstanding at June 30, 2014 and December 31, 2013, respectively | 20 | 21 |
Additional paid in-capital | 207,276 | 204,415 |
Treasury stock at cost (3,194,070 and 2,413,430 shares of common stock at June 30, 2014 and December 31, 2013, respectively) | -52,770 | -41,005 |
Accumulated other comprehensive loss | -64 | -81 |
Retained earnings | 26,952 | 27,545 |
Total stockholders' equity | 181,414 | 190,895 |
Total liabilities and stockholders' equity | $200,621 | $212,327 |
INTERIM_CONDENSED_CONSOLIDATED1
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Statement Of Financial Position [Abstract] | ' | ' |
Preferred Stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares issued | 23,595,160 | 23,595,160 |
Common stock, shares outstanding | 20,401,090 | 21,181,730 |
Treasury stock, shares | 3,194,070 | 2,413,430 |
INTERIM_CONDENSED_CONSOLIDATED2
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenues: | ' | ' | ' | ' |
Licensing and related revenue | $4,355 | $6,129 | $12,261 | $11,163 |
Royalties | 4,860 | 6,684 | 10,628 | 13,766 |
Total revenues | 9,215 | 12,813 | 22,889 | 24,929 |
Cost of revenues | 1,370 | 1,093 | 2,482 | 2,668 |
Gross profit | 7,845 | 11,720 | 20,407 | 22,261 |
Operating expenses: | ' | ' | ' | ' |
Research and development, net | 6,051 | 5,621 | 12,047 | 10,660 |
Sales and marketing | 2,197 | 2,540 | 4,590 | 4,895 |
General and administrative | 1,861 | 1,744 | 3,901 | 3,582 |
Total operating expenses | 10,109 | 9,905 | 20,538 | 19,137 |
Operating income (loss) | -2,264 | 1,815 | -131 | 3,124 |
Financial income, net | 417 | 707 | 877 | 1,436 |
Income (loss) before taxes on income | -1,847 | 2,522 | 746 | 4,560 |
Income taxes expense (benefit) | -321 | 347 | 287 | 680 |
Net income (loss) | ($1,526) | $2,175 | $459 | $3,880 |
Basic net income (loss) per share | ($0.07) | $0.10 | $0.02 | $0.18 |
Diluted net income (loss) per share | ($0.07) | $0.10 | $0.02 | $0.17 |
Weighted-average shares used to compute net income (loss) per share | ' | ' | ' | ' |
Basic | 20,778 | 22,087 | 20,968 | 22,142 |
Diluted | 20,778 | 22,546 | 21,368 | 22,608 |
INTERIM_CONDENSED_CONSOLIDATED3
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income (loss): | ($1,526) | $2,175 | $459 | $3,880 |
Available-for-sale securities: | ' | ' | ' | ' |
Changes in unrealized losses | -5 | -674 | -12 | -689 |
Reclassification adjustments for gains included in net income | -17 | -96 | -16 | -239 |
Net change | -22 | -770 | -28 | -928 |
Cash flow hedges: | ' | ' | ' | ' |
Changes in unrealized gains | 32 | 112 | 60 | 218 |
Reclassification adjustments for gains included in net income | -23 | -188 | -24 | -288 |
Net change | 9 | -76 | 36 | -70 |
Other comprehensive income (loss) before tax | -13 | -846 | 8 | -998 |
Income tax benefit related to components of other comprehensive income (loss) | 5 | 232 | 9 | 271 |
Other comprehensive income (loss), net of taxes | -8 | -614 | 17 | -727 |
Comprehensive income (loss) | ($1,534) | $1,561 | $476 | $3,153 |
INTERIM_CONDENSED_CONSOLIDATED4
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income (loss) | $459 | $3,880 |
Adjustments required to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation | 318 | 320 |
Equity-based compensation | 2,861 | 2,664 |
Realized gain, net on sale of available-for-sale marketable securities | -16 | -239 |
Amortization of premiums on available-for-sale marketable securities | 611 | 751 |
Accrued interest on bank deposits | -37 | -685 |
Unrealized foreign exchange loss | 37 | 20 |
Changes in operating assets and liabilities: | ' | ' |
Trade receivables | 552 | -2,954 |
Prepaid expenses and other current assets | -656 | -767 |
Deferred tax, net | -164 | -455 |
Trade payables | -196 | 32 |
Deferred revenues | 139 | -326 |
Accrued expenses and other payables | -722 | -791 |
Accrued payroll and related benefits | -1,978 | -628 |
Income taxes payable | 78 | 501 |
Accrued severance pay, net | 55 | 78 |
Net cash provided by operating activities | 1,341 | 1,401 |
Cash flows from investing activities: | ' | ' |
Purchase of property and equipment | -165 | -635 |
Investment in bank deposits | -39,564 | -31,000 |
Proceeds from bank deposits | 25,000 | 34,478 |
Investment in available-for-sale marketable securities | -18,776 | -46,317 |
Proceeds from maturity of available-for-sale marketable securities | 1,000 | 5,853 |
Proceeds from sale of available-for-sale marketable securities | 42,754 | 29,094 |
Investments in other company | ' | -300 |
Net cash provided by (used in) investing activities | 10,249 | -8,827 |
Cash flows from financing activities: | ' | ' |
Purchase of Treasury Stock | -14,272 | -4,851 |
Proceeds from exercise of stock-based awards | 1,454 | 1,446 |
Net cash used in financing activities | -12,818 | -3,405 |
Effect of exchange rate movements on cash | 4 | -52 |
Decrease in cash and cash equivalents | -1,224 | -10,883 |
Cash and cash equivalents at the beginning of the period | 24,117 | 18,422 |
Cash and cash equivalents at the end of the period | 22,893 | 7,539 |
Cash paid during the period for: | ' | ' |
Income and withholding taxes, net of refunds | $367 | $671 |
BUSINESS
BUSINESS | 6 Months Ended |
Jun. 30, 2014 | |
Text Block [Abstract] | ' |
BUSINESS | ' |
NOTE 1: BUSINESS | |
The financial information in this quarterly report includes the results of CEVA, Inc. and its subsidiaries (the “Company” or “CEVA”). | |
CEVA licenses a family of programmable DSP cores and application-specific platforms, including communications (wireless and wired modems, Wi-Fi and Bluetooth), vision, audio and voice, as well as Serial ATA (SATA) and Serial Attached SCSI (SAS). CEVA’s technologies are licensed to leading semiconductor and original equipment manufacturer (OEM) companies in the form of intellectual property (IP). These companies design, manufacture, market and sell application-specific integrated circuits (“ASICs”) and application-specific standard products (“ASSPs”) based on CEVA’s technology to wireless, consumer electronics and automotive companies for incorporation into a wide variety of end products. |
BASIS_OF_PRESENTATION_AND_SUMM
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended | |
Jun. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | |
NOTE 2: | BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | ||
The interim condensed consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). | ||
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | ||
The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2013, contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2014, have been applied consistently in these unaudited interim condensed consolidated financial statements. | ||
Use of Estimates | ||
The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the interim condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
MARKETABLE_SECURITIES
MARKETABLE SECURITIES | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Cash And Cash Equivalents [Abstract] | ' | ||||||||||||||||
MARKETABLE SECURITIES | ' | ||||||||||||||||
NOTE 3: MARKETABLE SECURITIES | |||||||||||||||||
The following is a summary of available-for-sale marketable securities at June 30, 2014 and December 31, 2013: | |||||||||||||||||
As at June 30, 2014 (Unaudited) | |||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||
cost | unrealized | unrealized | value | ||||||||||||||
gains | losses | ||||||||||||||||
Available-for-sale securities - matures within one year: | |||||||||||||||||
Corporate bonds | $ | 5,455 | $ | 19 | $ | (7 | ) | $ | 5,467 | ||||||||
Available-for-sale securities - matures after one year through three years: | |||||||||||||||||
Corporate bonds | 37,526 | 38 | (168 | ) | 37,396 | ||||||||||||
Total | $ | 42,981 | $ | 57 | $ | (175 | ) | $ | 42,863 | ||||||||
As at December 31, 2013 (Audited) | |||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||
cost | unrealized | unrealized | value | ||||||||||||||
gains | losses | ||||||||||||||||
Available-for-sale securities - matures within one year: | |||||||||||||||||
Corporate bonds | $ | 2,852 | $ | 6 | $ | (3 | ) | $ | 2,855 | ||||||||
Available-for-sale securities - matures after one year through three years: | |||||||||||||||||
Corporate bonds | 65,702 | 134 | (227 | ) | 65,609 | ||||||||||||
Total | $ | 68,554 | $ | 140 | $ | (230 | ) | $ | 68,464 | ||||||||
The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2014 and December 31, 2013, and the length of time that those investments have been in a continuous loss position: | |||||||||||||||||
Less than 12 months | 12 months or greater | ||||||||||||||||
Fair Value | Gross | Fair | Gross | ||||||||||||||
unrealized loss | Value | unrealized loss | |||||||||||||||
As of June 30, 2014 | $ | 18,585 | $ | (112 | ) | $ | 11,300 | $ | (63 | ) | |||||||
As of December 31, 2013 | $ | 28,535 | $ | (208 | ) | $ | 4,278 | $ | (22 | ) | |||||||
As of June 30, 2014 and December 31, 2013, management believes the impairments are not other than temporary and therefore the impairment losses were recorded in accumulated other comprehensive income (loss). The Company has no intent to sell these securities and it is more likely than not that the Company will not be required to sell these securities prior to the recovery of the entire amortized cost basis. | |||||||||||||||||
The following table presents gross realized gain and gross realized loss from sale of available-for-sale marketable securities: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Gross realized gain from sale of available-for-sale marketable securities | $ | 69 | $ | 256 | $ | 58 | $ | 104 | |||||||||
Gross realized loss from sale of available-for-sale marketable securities | $ | (53 | ) | $ | (17 | ) | $ | (41 | ) | $ | (8 | ) |
FAIR_VALUE_MEASUREMENT
FAIR VALUE MEASUREMENT | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
FAIR VALUE MEASUREMENT | ' | ||||||||||||||||
NOTE 4: FAIR VALUE MEASUREMENT | |||||||||||||||||
FASB ASC No. 820, “Fair Value Measurements and Disclosures” defines fair value, establishes a framework for measuring fair value. Fair value is an exit price, representing the amount that would be received for selling an asset or paid for the transfer of a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value: | |||||||||||||||||
Level I | Unadjusted quoted prices in active markets that are accessible on the measurement date for identical, unrestricted assets or liabilities; | ||||||||||||||||
Level II | Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and | ||||||||||||||||
Level III | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | ||||||||||||||||
The Company measures its marketable securities and foreign currency derivative contracts at fair value. Marketable securities and foreign currency derivative contracts are classified within Level II as the valuation inputs are based on quoted prices and market observable data of similar instruments. | |||||||||||||||||
The table below sets forth the Company’s assets and liabilities measured at fair value by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||
Description | June 30, | Level I | Level II | Level III | |||||||||||||
2014 | |||||||||||||||||
Assets: | |||||||||||||||||
Marketable securities: | |||||||||||||||||
Corporate bonds | $ | 42,863 | $ | — | $ | 42,863 | $ | — | |||||||||
Foreign exchange contracts | 20 | — | 20 | — | |||||||||||||
Total assets | 42,883 | — | 42,883 | — | |||||||||||||
Description | December 31, | Level I | Level II | Level III | |||||||||||||
2013 | |||||||||||||||||
Assets: | |||||||||||||||||
Marketable securities: | |||||||||||||||||
Corporate bonds | $ | 68,464 | $ | — | $ | 68,464 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Foreign exchange contracts | 16 | — | 16 | — |
GEOGRAPHIC_INFORMATION_AND_MAJ
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA | ' | ||||||||||||||||
NOTE 5: GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA | |||||||||||||||||
a. | Summary information about geographic areas: | ||||||||||||||||
The Company manages its business on the basis of one reportable segment: the licensing of intellectual property to semiconductor companies and electronic equipment manufacturers (see Note 1 for a brief description of the Company’s business). The following is a summary of revenues within geographic areas: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Revenues based on customer location: | |||||||||||||||||
United States | $ | 6,735 | $ | 3,224 | $ | 1,568 | $ | 1,571 | |||||||||
Europe and Middle East (1) | 3,338 | 7,425 | 1,500 | 3,401 | |||||||||||||
Asia Pacific (2) (3) (4) (5) | 12,816 | 14,280 | 6,147 | 7,841 | |||||||||||||
$ | 22,889 | $ | 24,929 | $ | 9,215 | $ | 12,813 | ||||||||||
(1) Germany | $ | * | ) | $ | 3,521 | $ | * | ) | $ | 1,837 | |||||||
(2) China | $ | 6,486 | $ | 10,829 | $ | 3,773 | $ | 6,811 | |||||||||
(3) Taiwan | $ | 3,134 | $ | *) | $ | * | ) | $ | *) | ||||||||
(4) S. Korea | $ | * | ) | $ | *) | $ | 1,153 | $ | *) | ||||||||
(5) Japan | $ | * | ) | $ | *) | $ | 1,013 | $ | *) | ||||||||
*) | Less than 10% | ||||||||||||||||
b. | Major customer data as a percentage of total revenues: | ||||||||||||||||
The following table sets forth the customers that represented 10% or more of the Company’s total revenues in each of the periods set forth below. | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Customer A | 21 | % | 32 | % | 28 | % | 47 | % | |||||||||
Customer B | * | ) | 14 | % | * | ) | 14 | % | |||||||||
Customer C | * | ) | * | ) | 12 | % | * | ) | |||||||||
Customer D | 13 | % | * | ) | * | ) | * | ) | |||||||||
Customer E | 13 | % | * | ) | * | ) | * | ) | |||||||||
*) | Less than 10% |
NET_INCOME_LOSS_PER_SHARE_OF_C
NET INCOME (LOSS) PER SHARE OF COMMON STOCK | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
NET INCOME (LOSS) PER SHARE OF COMMON STOCK | ' | ||||||||||||||||
NOTE 6: NET INCOME (LOSS) PER SHARE OF COMMON STOCK | |||||||||||||||||
Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period, plus dilutive potential shares of common stock considered outstanding during the period, in accordance with FASB ASC No. 260, “Earnings Per Share.” | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Numerator: | |||||||||||||||||
Net income (loss) | $ | 459 | $ | 3,880 | $ | (1,526 | ) | $ | 2,175 | ||||||||
Denominator (in thousands): | |||||||||||||||||
Weighted-average common stock outstanding | 20,968 | 22,142 | 20,778 | 22,087 | |||||||||||||
Effect of stock options and stock appreciation rights | 400 | 466 | — | 459 | |||||||||||||
Diluted weighted average common stock outstanding | 21,368 | 22,608 | 20,778 | 22,546 | |||||||||||||
Basic net income (loss) per share | $ | 0.02 | $ | 0.18 | $ | (0.07 | ) | $ | 0.1 | ||||||||
Diluted net income (loss) per share | $ | 0.02 | $ | 0.17 | $ | (0.07 | ) | $ | 0.1 | ||||||||
The weighted average number of shares related to outstanding options and stock appreciation rights excluded from the calculation of diluted net income per share, since their effect was anti-dilutive, was 2,211,919 and 2,207,358 shares for the three and six months ended June 30, 2014, respectively, and 1,579,315 and 1,521,826 shares for the corresponding periods of 2013. |
COMMON_STOCK_AND_STOCKBASED_CO
COMMON STOCK AND STOCK-BASED COMPENSATION PLANS | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
COMMON STOCK AND STOCK-BASED COMPENSATION PLANS | ' | ||||||||||||||||
NOTE 7: COMMON STOCK AND STOCK-BASED COMPENSATION PLANS | |||||||||||||||||
The Company grants stock options and stock appreciation rights (“SARs”) capped with a ceiling to employees and stock options to non-employee directors of the Company and its subsidiaries and provides the right to purchase common stock pursuant to the Company’s 2002 employee stock purchase plan to employees of the Company and its subsidiaries. The SAR unit confers the holder the right to stock appreciation over a preset price of the Company’s common stock during a specified period of time. When the unit is exercised, the appreciation amount is paid through the issuance of shares of the Company’s common stock. The ceiling limits the maximum income for each SAR unit. SARs are considered an equity instrument as it is a net share settled award capped with a ceiling (400% for SAR grants made during the six months ended June 30, 2014). The options and SARs granted under the company’s stock incentive plans have been granted at the fair market value of the Company’s common stock on the grant date. Options and SARs granted to employees under stock incentive plans vest at a rate of 25% of the shares underlying the option after one year and the remaining shares vest in equal portions over the following 36 months, such that all shares are vested after four years. Options granted to non-employee directors vest 25% of the shares underlying the option on each anniversary of the option grant. A summary of the Company’s stock option and SARs activities and related information for the six months ended June 30, 2014, are as follows: | |||||||||||||||||
Number of | Weighted | Weighted | |||||||||||||||
options and | average | average | Aggregate | ||||||||||||||
SAR units | exercise | remaining | intrinsic- | ||||||||||||||
price | contractual | value | |||||||||||||||
term | |||||||||||||||||
Outstanding as of December 31, 2013 | 3,115,972 | $ | 16.3 | — | — | ||||||||||||
Options/SAR units granted (1) | 199,500 | 15.36 | — | — | |||||||||||||
Options/SAR units exercised | (102,078 | ) | 8.6 | — | — | ||||||||||||
Options/SAR units forfeited or expired | (27,144 | ) | 19.16 | — | — | ||||||||||||
Outstanding as of June 30, 2014 (2) | 3,186,250 | $ | 16.46 | 4.7 | $ | 4,719,046 | |||||||||||
Exercisable as of June 30, 2014 (3) | 1,914,216 | $ | 15.93 | 3.5 | $ | 4,707,282 | |||||||||||
-1 | Included 67,500 SAR units which are convertible for a maximum number of shares of the Company’s common stock equal to 75% of the SAR units subject to the grant. | ||||||||||||||||
-2 | Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 2,874,037 shares of the Company’s common stock issuable upon exercise. | ||||||||||||||||
-3 | Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 1,812,684 shares of the Company’s common stock issuable upon exercise. | ||||||||||||||||
The following table shows the total equity-based compensation expense included in the interim condensed consolidated statements of operations: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Cost of revenue | $ | 114 | $ | 150 | $ | 56 | $ | 81 | |||||||||
Research and development, net | 1,134 | 855 | 533 | 409 | |||||||||||||
Sales and marketing | 568 | 628 | 266 | 332 | |||||||||||||
General and administrative | 1,045 | 1,031 | 493 | 524 | |||||||||||||
Total equity-based compensation expense | $ | 2,861 | $ | 2,664 | $ | 1,348 | $ | 1,346 | |||||||||
The fair value for the Company’s stock options and SARs (other than share issuances in connection with the employee stock purchase plan, as detailed below) granted to employees and non-employees directors was estimated using the following assumptions: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||
Expected volatility | 37%-52 | % | 38%-54 | % | 38%-51 | % | 38%-53 | % | |||||||||
Risk-free interest rate | 0.1%-2.5 | % | 0.1%-2.5 | % | 0.1%-2.5 | % | 0.1%-2.5 | % | |||||||||
Expected forfeiture (employees) | 10 | % | 10 | % | 10 | % | 10 | % | |||||||||
Expected forfeiture (executives) | 5 | % | 5 | % | 5 | % | 5 | % | |||||||||
Contractual term of up to | 10 Years | 10 Years | 10 Years | 10 Years | |||||||||||||
Suboptimal exercise multiple (employees) | 2.1 | 2.1 | 2.1 | 2.1 | |||||||||||||
Suboptimal exercise multiple (executives) | 2.4 | 2.4 | 2.4 | 2.4 | |||||||||||||
The fair value for rights to purchase shares of common stock under the Company’s employee stock purchase plan was estimated on the date of grant using the following assumptions: | |||||||||||||||||
Six months ended | |||||||||||||||||
June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | |||||||||||||
Expected volatility | 43%-52 | % | 45%-53 | % | |||||||||||||
Risk-free interest rate | 0.1%-0.2 | % | 0.1%-0.2 | % | |||||||||||||
Expected forfeiture | 0 | % | 0 | % | |||||||||||||
Contractual term of up to | 24 months | 24 months | |||||||||||||||
The Company did not grant any purchase rights under the 2002 employee stock purchase plan during the three months ended June 30, 2014 and 2013. | |||||||||||||||||
As of June 30, 2014, there was $4,413 of unrecognized compensation expense related to unvested equity awards. This amount is expected to be recognized over a weighted-average period of 1.3 years. To the extent the actual forfeiture rate is different from what the Company has estimated, equity-based compensation related to these awards will be different from the Company’s expectations. |
DERIVATIVES_AND_HEDGING_ACTIVI
DERIVATIVES AND HEDGING ACTIVITIES | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
DERIVATIVES AND HEDGING ACTIVITIES | ' | ||||||||||||||||
NOTE 8: DERIVATIVES AND HEDGING ACTIVITIES | |||||||||||||||||
The Company follows the requirements of FASB ASC No. 815,” Derivatives and Hedging” which requires companies to recognize all of their derivative instruments as either assets or liabilities in the statement of financial position at fair value. The accounting for changes in fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging transaction and further, on the type of hedging transaction. For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. Due to the Company’s global operations, it is exposed to foreign currency exchange rate fluctuations in the normal course of its business. The Company’s treasury policy allows it to offset the risks associated with the effects of certain foreign currency exposures through the purchase of foreign exchange forward or option contracts (“Hedging Contracts”). The policy, however, prohibits the Company from speculating on such Hedging Contracts for profit. To protect against the increase in value of forecasted foreign currency cash flow resulting from salaries paid in currencies other than the U.S. dollar during the year, the Company instituted a foreign currency cash flow hedging program. The Company hedges portions of the anticipated payroll of its non-U.S. employees denominated in the currencies other than the U.S. dollar for a period of one to twelve months with Hedging Contracts. Accordingly, when the dollar strengthens against the foreign currencies, the decline in present value of future foreign currency expenses is offset by losses in the fair value of the Hedging Contracts. Conversely, when the dollar weakens, the increase in the present value of future foreign currency expenses is offset by gains in the fair value of the Hedging Contracts. These Hedging Contracts are designated as cash flow hedges. | |||||||||||||||||
For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Any gain or loss on a derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item is recognized in current earnings during the period of change. As of June 30, 2014 and December 31, 2013, the notional principal amount of the Hedging Contracts to sell U.S. dollars held by the Company was $1,260 and $720, respectively. | |||||||||||||||||
Other derivative instruments that are not qualified as hedging instruments consist of forward contracts that the Company uses to hedge monetary assets denominated in currencies other than the U.S. dollar. Gains and losses on these contracts as well as related costs are included in financial income, net, along with the gains and losses of the related hedged item. As of June 30, 2014 and December 31, 2013, there were no derivatives not qualified as hedging instruments held by the Company. | |||||||||||||||||
The fair value of the Company’s outstanding derivative instruments is as follows: | |||||||||||||||||
As at | As at | ||||||||||||||||
June 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
(Unaudited) | (Audited) | ||||||||||||||||
Derivative assets: | |||||||||||||||||
Derivatives designated as cash flow hedging instruments: | |||||||||||||||||
Foreign exchange option contracts | $ | 17 | $ | — | |||||||||||||
Foreign exchange forward contracts | 3 | — | |||||||||||||||
Total | $ | 20 | $ | — | |||||||||||||
Derivative liabilities: | |||||||||||||||||
Derivatives designated as cash flow hedging instruments: | |||||||||||||||||
Foreign exchange forward contracts | $ | — | $ | 16 | |||||||||||||
The Company recorded the fair value of derivative assets in “prepaid expenses and other current assets” and the fair value of derivative liabilities in “accrued expenses and other payables” on the Company’s interim condensed consolidated balance sheets. | |||||||||||||||||
The increase in unrealized gains recognized in “accumulated other comprehensive income (loss)” on derivatives, before tax effect, is as follows: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Derivatives designated as cash flow hedging instruments: | |||||||||||||||||
Foreign exchange option contracts | $ | 28 | $ | 93 | $ | 17 | $ | 25 | |||||||||
Foreign exchange forward contracts | 32 | 125 | 15 | 87 | |||||||||||||
$ | 60 | $ | 218 | $ | 32 | $ | 112 | ||||||||||
The net gains reclassified from “accumulated other comprehensive income (loss)” into income, are as follows: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Derivatives designated as cash flow hedging instruments: | |||||||||||||||||
Foreign exchange option contracts | $ | (11 | ) | $ | (158 | ) | $ | (11 | ) | $ | (98 | ) | |||||
Foreign exchange forward contracts | (13 | ) | (130 | ) | (12 | ) | (90 | ) | |||||||||
$ | (24 | ) | $ | (288 | ) | $ | (23 | ) | $ | (188 | ) | ||||||
The Company recorded in cost of revenues and operating expenses a net gain of $23 and $24 during the three and six months ended June 30, 2014, respectively, and a net gain of $188 and $288 for the comparable periods of 2013, related to its Hedging Contracts. In addition, the Company recorded in financial income, net, a gain of $178 and $112 during the three and six months ended June 30, 2013, respectively, related to derivatives not qualified as hedging instruments. There were no derivatives not qualified as hedging instruments during the three and six months ended June 30, 2014. |
ACCUMULATED_OTHER_COMPREHENSIV
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 6 Months Ended | ||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ' | ||||||||||||||||||
NOTE 9: ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||
The following tables summarize the changes in accumulated balances of other comprehensive income (loss) : | |||||||||||||||||||
Three months ended June 30, 2014 | Unrealized | Unrealized | Estimated | Total | |||||||||||||||
gains (losses) on | gains (losses) | tax (expense) | |||||||||||||||||
available-for-sale | on cash flow | benefit | |||||||||||||||||
marketable | hedges | ||||||||||||||||||
securities | |||||||||||||||||||
Beginning balance | $ | (96 | ) | $ | 11 | $ | 29 | $ | (56 | ) | |||||||||
Other comprehensive income (loss) before reclassifications | (5 | ) | 32 | (4 | ) | 23 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (17 | ) | (23 | ) | 9 | (31 | ) | ||||||||||||
Net current period other comprehensive income (loss) | (22 | ) | 9 | 5 | (8 | ) | |||||||||||||
Ending balance | $ | (118 | ) | $ | 20 | $ | 34 | $ | (64 | ) | |||||||||
Six months ended June 30, 2014 | Unrealized | Unrealized | Estimated | Total | |||||||||||||||
gains (losses) on | gains (losses) | tax (expense) | |||||||||||||||||
available-for-sale | on cash flow | benefit | |||||||||||||||||
marketable | hedges | ||||||||||||||||||
securities | |||||||||||||||||||
Beginning balance | $ | (90 | ) | $ | (16 | ) | $ | 25 | $ | (81 | ) | ||||||||
Other comprehensive income (loss) before reclassifications | (12 | ) | 60 | 1 | 49 | ||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (16 | ) | (24 | ) | 8 | (32 | ) | ||||||||||||
Net current period other comprehensive income (loss) | (28 | ) | 36 | 9 | 17 | ||||||||||||||
Ending balance | $ | (118 | ) | $ | 20 | $ | 34 | $ | (64 | ) | |||||||||
Three months ended June 30, 2013 | Unrealized | Unrealized | Estimated | Total | |||||||||||||||
gains (losses) on | gains (losses) | tax (expense) | |||||||||||||||||
available-for-sale | on cash flow | benefit | |||||||||||||||||
marketable | hedges | ||||||||||||||||||
securities | |||||||||||||||||||
Beginning balance | $ | 66 | $ | 222 | $ | (41 | ) | $ | 247 | ||||||||||
Other comprehensive income (loss) before reclassifications | (674 | ) | 112 | 186 | (376 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (96 | ) | (188 | ) | 46 | (238 | ) | ||||||||||||
Net current period other comprehensive income (loss) | (770 | ) | (76 | ) | 232 | (614 | ) | ||||||||||||
Ending balance | $ | (704 | ) | $ | 146 | $ | 191 | $ | (367 | ) | |||||||||
Six months ended June 30, 2013 | Unrealized | Unrealized | Estimated | Total | |||||||||||||||
gains (losses) on | gains (losses) | tax (expense) | |||||||||||||||||
available-for-sale | on cash flow | benefit | |||||||||||||||||
marketable | hedges | ||||||||||||||||||
securities | |||||||||||||||||||
Beginning balance | $ | 224 | $ | 216 | $ | (80 | ) | $ | 360 | ||||||||||
Other comprehensive income (loss) before reclassifications | (689 | ) | 218 | 174 | (297 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (239 | ) | (288 | ) | 97 | (430 | ) | ||||||||||||
Net current period other comprehensive income (loss) | (928 | ) | (70 | ) | 271 | (727 | ) | ||||||||||||
Ending balance | $ | (704 | ) | $ | 146 | $ | 191 | $ | (367 | ) | |||||||||
The following table provides details about reclassifications out of accumulated other comprehensive income (loss): | |||||||||||||||||||
Details about Accumulated | Amount Reclassified from Accumulated Other Comprehensive | Affected Line Item in the | |||||||||||||||||
Other Comprehensive | Income (Loss) | Statements of Operations | |||||||||||||||||
Income (Loss) Components | |||||||||||||||||||
Six months ended June 30, | Three months ended June 30, | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||||
Unrealized gains on cash flow hedges | $ | — | $ | 9 | $ | — | $ | 5 | Cost of revenues | ||||||||||
20 | 236 | 19 | 156 | Research and development | |||||||||||||||
2 | 19 | 2 | 11 | Sales and marketing | |||||||||||||||
2 | 24 | 2 | 16 | General and administrative | |||||||||||||||
24 | 288 | 23 | 188 | Total, before income taxes | |||||||||||||||
(3 | ) | (29 | ) | (3 | ) | (19 | ) | Provision for income taxes | |||||||||||
21 | 259 | 20 | 169 | Total, net of income taxes | |||||||||||||||
Unrealized gains on available-for-sale marketable securities | 16 | 239 | 17 | 96 | Financial income, net | ||||||||||||||
(5 | ) | (68 | ) | (6 | ) | (27 | ) | Provision for income taxes | |||||||||||
11 | 171 | 11 | 69 | Total, net of income taxes | |||||||||||||||
$ | 32 | $ | 430 | $ | 31 | $ | 238 | Total, net of income taxes |
SHARE_REPURCHASE_PROGRAM
SHARE REPURCHASE PROGRAM | 6 Months Ended |
Jun. 30, 2014 | |
Equity [Abstract] | ' |
SHARE REPURCHASE PROGRAM | ' |
NOTE 10: SHARE REPURCHASE PROGRAM | |
In January 2012, the Company’s Board of Directors reaffirmed its authorization for the repurchase by the Company of 1,966,700 shares of common stock pursuant to Rule 10b-18 of the Securities Exchange Act of 1934, as amended. In July 2013, the Company’s Board of Directors authorized the repurchase by the Company of an additional 2,000,000 shares of common stock pursuant to Rule 10b-18 of the Exchange Act. | |
During the second quarter of 2014, the Company repurchased 694,066 shares of common stock at an average purchase price of $14.62 per share for an aggregate purchase price of $10,144. During the second quarter of 2013, the Company repurchased 175,778 shares of common stock at an average purchase price of $16.21 per share for an aggregate purchase price of $2,849. During the first six months ended June 30, 2014, the Company repurchased 929,685 shares of common stock at an average purchase price of $15.35 per share for an aggregate purchase price of $14,272. During the first six months ended June 30, 2013, the Company repurchased 304,738 shares of common stock at an average purchase price of $15.92 per share for an aggregate purchase price of $4,851. As of June 30, 2014, 297,463 shares of common stock remained available for repurchase pursuant to the Company’s share repurchase program. | |
The repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with FASB ASC No. 505-30, “Treasury Stock” and charges the excess of the repurchase cost over issuance price using the weighted average method to retained earnings. The purchase cost is calculated based on the specific identified method. In the case where the repurchase cost over issuance price using the weighted average method is lower than the issuance price, the Company credits the difference to additional paid-in capital. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 11: SUBSEQUENT EVENTS | |
In July 2014, the Company acquired RivieraWaves, a privately-held, French-based company and a leading provider of wireless connectivity IP for Wi-Fi® and Bluetooth® technologies. Under the terms of the agreement, the Company agreed to pay an aggregate of approximately $19,000 to acquire RivieraWaves with $11,969 paid at closing and the remainder of the consideration to be paid upon the satisfaction of certain performance and other milestones. In addition, the Company established an employee retention plan for the former RivieraWaves employees at an expense of approximately $3,400 to be payable on a quarterly basis for a period of two years after the acquisition. The final purchase price allocation for the acquisition has not been determined as of the filing of this report. | |
In August 2014, the Company received a consideration of 757 Euro (approximately $1,014) when Antcor Advanced Network Technologies S.A. (“Antcor”), a company in which the Company had a minority investment of 1,250 Euro (approximately $1,561), was acquired. Pursuant to the acquisition agreement, the Company may receive additional proceeds from the acquiror during the next five years based on achievement of certain performance and other milestones by Antcor. |
BASIS_OF_PRESENTATION_AND_SUMM1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The interim condensed consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). | |
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2013, contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2014, have been applied consistently in these unaudited interim condensed consolidated financial statements. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the interim condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
MARKETABLE_SECURITIES_Tables
MARKETABLE SECURITIES (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Cash And Cash Equivalents [Abstract] | ' | ||||||||||||||||
Summary of Available-for-Sale Marketable Securities | ' | ||||||||||||||||
The following is a summary of available-for-sale marketable securities at June 30, 2014 and December 31, 2013: | |||||||||||||||||
As at June 30, 2014 (Unaudited) | |||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||
cost | unrealized | unrealized | value | ||||||||||||||
gains | losses | ||||||||||||||||
Available-for-sale securities - matures within one year: | |||||||||||||||||
Corporate bonds | $ | 5,455 | $ | 19 | $ | (7 | ) | $ | 5,467 | ||||||||
Available-for-sale securities - matures after one year through three years: | |||||||||||||||||
Corporate bonds | 37,526 | 38 | (168 | ) | 37,396 | ||||||||||||
Total | $ | 42,981 | $ | 57 | $ | (175 | ) | $ | 42,863 | ||||||||
As at December 31, 2013 (Audited) | |||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||
cost | unrealized | unrealized | value | ||||||||||||||
gains | losses | ||||||||||||||||
Available-for-sale securities - matures within one year: | |||||||||||||||||
Corporate bonds | $ | 2,852 | $ | 6 | $ | (3 | ) | $ | 2,855 | ||||||||
Available-for-sale securities - matures after one year through three years: | |||||||||||||||||
Corporate bonds | 65,702 | 134 | (227 | ) | 65,609 | ||||||||||||
Total | $ | 68,554 | $ | 140 | $ | (230 | ) | $ | 68,464 | ||||||||
Summary of Gross Unrealized Losses and Fair Values on Investments | ' | ||||||||||||||||
The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2014 and December 31, 2013, and the length of time that those investments have been in a continuous loss position: | |||||||||||||||||
Less than 12 months | 12 months or greater | ||||||||||||||||
Fair Value | Gross | Fair Value | Gross | ||||||||||||||
unrealized loss | unrealized loss | ||||||||||||||||
As of June 30, 2014 | $ | 18,585 | $ | (112 | ) | $ | 11,300 | $ | (63 | ) | |||||||
As of December 31, 2013 | $ | 28,535 | $ | (208 | ) | $ | 4,278 | $ | (22 | ) | |||||||
Summary of Gross Realized Gain and Loss from Sale of Available-for-Sale Marketable Securities | ' | ||||||||||||||||
The following table presents gross realized gain and gross realized loss from sale of available-for-sale marketable securities: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Gross realized gain from sale of available-for-sale marketable securities | $ | 69 | $ | 256 | $ | 58 | $ | 104 | |||||||||
Gross realized loss from sale of available-for-sale marketable securities | $ | (53 | ) | $ | (17 | ) | $ | (41 | ) | $ | (8 | ) |
FAIR_VALUE_MEASUREMENT_Tables
FAIR VALUE MEASUREMENT (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurement | ' | ||||||||||||||||
The table below sets forth the Company’s assets and liabilities measured at fair value by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||
Description | June 30, | Level I | Level II | Level III | |||||||||||||
2014 | |||||||||||||||||
Assets: | |||||||||||||||||
Marketable securities: | |||||||||||||||||
Corporate bonds | $ | 42,863 | $ | — | $ | 42,863 | $ | — | |||||||||
Foreign exchange contracts | 20 | — | 20 | — | |||||||||||||
Total assets | 42,883 | — | 42,883 | — | |||||||||||||
Description | December 31, | Level I | Level II | Level III | |||||||||||||
2013 | |||||||||||||||||
Assets: | |||||||||||||||||
Marketable securities: | |||||||||||||||||
Corporate bonds | $ | 68,464 | $ | — | $ | 68,464 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Foreign exchange contracts | 16 | — | 16 | — |
GEOGRAPHIC_INFORMATION_AND_MAJ1
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Revenues Based on Customer Location | ' | ||||||||||||||||
The following is a summary of revenues within geographic areas: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Revenues based on customer location: | |||||||||||||||||
United States | $ | 6,735 | $ | 3,224 | $ | 1,568 | $ | 1,571 | |||||||||
Europe and Middle East (1) | 3,338 | 7,425 | 1,500 | 3,401 | |||||||||||||
Asia Pacific (2) (3) (4) (5) | 12,816 | 14,280 | 6,147 | 7,841 | |||||||||||||
$ | 22,889 | $ | 24,929 | $ | 9,215 | $ | 12,813 | ||||||||||
(1) Germany | $ | * | ) | $ | 3,521 | $ | * | ) | $ | 1,837 | |||||||
(2) China | $ | 6,486 | $ | 10,829 | $ | 3,773 | $ | 6,811 | |||||||||
(3) Taiwan | $ | 3,134 | $ | *) | $ | * | ) | $ | *) | ||||||||
(4) S. Korea | $ | * | ) | $ | *) | $ | 1,153 | $ | *) | ||||||||
(5) Japan | $ | * | ) | $ | *) | $ | 1,013 | $ | *) | ||||||||
*) | Less than 10% | ||||||||||||||||
Major Customers Data as Percentage of Total Revenues | ' | ||||||||||||||||
The following table sets forth the customers that represented 10% or more of the Company’s total revenues in each of the periods set forth below. | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Customer A | 21 | % | 32 | % | 28 | % | 47 | % | |||||||||
Customer B | * | ) | 14 | % | * | ) | 14 | % | |||||||||
Customer C | * | ) | * | ) | 12 | % | * | ) | |||||||||
Customer D | 13 | % | * | ) | * | ) | * | ) | |||||||||
Customer E | 13 | % | * | ) | * | ) | * | ) | |||||||||
*) | Less than 10% |
NET_INCOME_LOSS_PER_SHARE_OF_C1
NET INCOME (LOSS) PER SHARE OF COMMON STOCK (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Calculation of Numerator and Denominator in Earnings Per Share | ' | ||||||||||||||||
Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period, plus dilutive potential shares of common stock considered outstanding during the period, in accordance with FASB ASC No. 260, “Earnings Per Share.” | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Numerator: | |||||||||||||||||
Net income (loss) | $ | 459 | $ | 3,880 | $ | (1,526 | ) | $ | 2,175 | ||||||||
Denominator (in thousands): | |||||||||||||||||
Weighted-average common stock outstanding | 20,968 | 22,142 | 20,778 | 22,087 | |||||||||||||
Effect of stock options and stock appreciation rights | 400 | 466 | — | 459 | |||||||||||||
Diluted weighted average common stock outstanding | 21,368 | 22,608 | 20,778 | 22,546 | |||||||||||||
Basic net income (loss) per share | $ | 0.02 | $ | 0.18 | $ | (0.07 | ) | $ | 0.1 | ||||||||
Diluted net income (loss) per share | $ | 0.02 | $ | 0.17 | $ | (0.07 | ) | $ | 0.1 | ||||||||
COMMON_STOCK_AND_STOCKBASED_CO1
COMMON STOCK AND STOCK-BASED COMPENSATION PLANS (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||
A summary of the Company’s stock option and SARs activities and related information for the six months ended June 30, 2014, are as follows: | |||||||||||||||||
Number of | Weighted | Weighted | |||||||||||||||
options and | average | average | Aggregate | ||||||||||||||
SAR units | exercise | remaining | intrinsic- | ||||||||||||||
price | contractual | value | |||||||||||||||
term | |||||||||||||||||
Outstanding as of December 31, 2013 | 3,115,972 | $ | 16.3 | — | — | ||||||||||||
Options/SAR units granted (1) | 199,500 | 15.36 | — | — | |||||||||||||
Options/SAR units exercised | (102,078 | ) | 8.6 | — | — | ||||||||||||
Options/SAR units forfeited or expired | (27,144 | ) | 19.16 | — | — | ||||||||||||
Outstanding as of June 30, 2014 (2) | 3,186,250 | $ | 16.46 | 4.7 | $ | 4,719,046 | |||||||||||
Exercisable as of June 30, 2014 (3) | 1,914,216 | $ | 15.93 | 3.5 | $ | 4,707,282 | |||||||||||
-1 | Included 67,500 SAR units which are convertible for a maximum number of shares of the Company’s common stock equal to 75% of the SAR units subject to the grant. | ||||||||||||||||
-2 | Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 2,874,037 shares of the Company’s common stock issuable upon exercise. | ||||||||||||||||
-3 | Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 1,812,684 shares of the Company’s common stock issuable upon exercise. | ||||||||||||||||
Equity-Based Compensation Expense Included in Interim Condensed Consolidated Statements of Operations | ' | ||||||||||||||||
The following table shows the total equity-based compensation expense included in the interim condensed consolidated statements of operations: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Cost of revenue | $ | 114 | $ | 150 | $ | 56 | $ | 81 | |||||||||
Research and development, net | 1,134 | 855 | 533 | 409 | |||||||||||||
Sales and marketing | 568 | 628 | 266 | 332 | |||||||||||||
General and administrative | 1,045 | 1,031 | 493 | 524 | |||||||||||||
Total equity-based compensation expense | $ | 2,861 | $ | 2,664 | $ | 1,348 | $ | 1,346 | |||||||||
Assumptions Used to Estimate Fair Value of Stock Options Granted and SARs Granted to Employees | ' | ||||||||||||||||
The fair value for the Company’s stock options and SARs (other than share issuances in connection with the employee stock purchase plan, as detailed below) granted to employees and non-employees directors was estimated using the following assumptions: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||
Expected volatility | 37%-52 | % | 38%-54 | % | 38%-51 | % | 38%-53 | % | |||||||||
Risk-free interest rate | 0.1%-2.5 | % | 0.1%-2.5 | % | 0.1%-2.5 | % | 0.1%-2.5 | % | |||||||||
Expected forfeiture (employees) | 10 | % | 10 | % | 10 | % | 10 | % | |||||||||
Expected forfeiture (executives) | 5 | % | 5 | % | 5 | % | 5 | % | |||||||||
Contractual term of up to | 10 Years | 10 Years | 10 Years | 10 Years | |||||||||||||
Suboptimal exercise multiple (employees) | 2.1 | 2.1 | 2.1 | 2.1 | |||||||||||||
Suboptimal exercise multiple (executives) | 2.4 | 2.4 | 2.4 | 2.4 | |||||||||||||
Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan | ' | ||||||||||||||||
The fair value for rights to purchase shares of common stock under the Company’s employee stock purchase plan was estimated on the date of grant using the following assumptions: | |||||||||||||||||
Six months ended | |||||||||||||||||
June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | |||||||||||||
Expected volatility | 43%-52 | % | 45%-53 | % | |||||||||||||
Risk-free interest rate | 0.1%-0.2 | % | 0.1%-0.2 | % | |||||||||||||
Expected forfeiture | 0 | % | 0 | % | |||||||||||||
Contractual term of up to | 24 months | 24 months |
DERIVATIVES_AND_HEDGING_ACTIVI1
DERIVATIVES AND HEDGING ACTIVITIES (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Fair Value of Outstanding Derivative Instruments | ' | ||||||||||||||||
The fair value of the Company’s outstanding derivative instruments is as follows: | |||||||||||||||||
As at | As at | ||||||||||||||||
June 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
(Unaudited) | (Audited) | ||||||||||||||||
Derivative assets: | |||||||||||||||||
Derivatives designated as cash flow hedging instruments: | |||||||||||||||||
Foreign exchange option contracts | $ | 17 | $ | — | |||||||||||||
Foreign exchange forward contracts | 3 | — | |||||||||||||||
Total | $ | 20 | $ | — | |||||||||||||
Derivative liabilities: | |||||||||||||||||
Derivatives designated as cash flow hedging instruments: | |||||||||||||||||
Foreign exchange forward contracts | $ | — | $ | 16 | |||||||||||||
Increase in Unrealized Gains Recognized in "Accumulated Other Comprehensive Income ( Loss)" on Derivatives, Before Tax Effect | ' | ||||||||||||||||
The increase in unrealized gains recognized in “accumulated other comprehensive income (loss)” on derivatives, before tax effect, is as follows: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Derivatives designated as cash flow hedging instruments: | |||||||||||||||||
Foreign exchange option contracts | $ | 28 | $ | 93 | $ | 17 | $ | 25 | |||||||||
Foreign exchange forward contracts | 32 | 125 | 15 | 87 | |||||||||||||
$ | 60 | $ | 218 | $ | 32 | $ | 112 | ||||||||||
Net Gains Reclassified from "Accumulated Other Comprehensive Income (Loss)" | ' | ||||||||||||||||
The net gains reclassified from “accumulated other comprehensive income (loss)” into income, are as follows: | |||||||||||||||||
Six months ended | Three months ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||
Derivatives designated as cash flow hedging instruments: | |||||||||||||||||
Foreign exchange option contracts | $ | (11 | ) | $ | (158 | ) | $ | (11 | ) | $ | (98 | ) | |||||
Foreign exchange forward contracts | (13 | ) | (130 | ) | (12 | ) | (90 | ) | |||||||||
$ | (24 | ) | $ | (288 | ) | $ | (23 | ) | $ | (188 | ) | ||||||
ACCUMULATED_OTHER_COMPREHENSIV1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 6 Months Ended | ||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||
Changes in Accumulated Balances of Other Comprehensive Income (Loss) | ' | ||||||||||||||||||
The following tables summarize the changes in accumulated balances of other comprehensive income (loss) : | |||||||||||||||||||
Three months ended June 30, 2014 | Unrealized | Unrealized | Estimated | Total | |||||||||||||||
gains (losses) on | gains (losses) | tax (expense) | |||||||||||||||||
available-for-sale | on cash flow | benefit | |||||||||||||||||
marketable | hedges | ||||||||||||||||||
securities | |||||||||||||||||||
Beginning balance | $ | (96 | ) | $ | 11 | $ | 29 | $ | (56 | ) | |||||||||
Other comprehensive income (loss) before reclassifications | (5 | ) | 32 | (4 | ) | 23 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (17 | ) | (23 | ) | 9 | (31 | ) | ||||||||||||
Net current period other comprehensive income (loss) | (22 | ) | 9 | 5 | (8 | ) | |||||||||||||
Ending balance | $ | (118 | ) | $ | 20 | $ | 34 | $ | (64 | ) | |||||||||
Six months ended June 30, 2014 | Unrealized | Unrealized | Estimated | Total | |||||||||||||||
gains (losses) on | gains (losses) | tax (expense) | |||||||||||||||||
available-for-sale | on cash flow | benefit | |||||||||||||||||
marketable | hedges | ||||||||||||||||||
securities | |||||||||||||||||||
Beginning balance | $ | (90 | ) | $ | (16 | ) | $ | 25 | $ | (81 | ) | ||||||||
Other comprehensive income (loss) before reclassifications | (12 | ) | 60 | 1 | 49 | ||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (16 | ) | (24 | ) | 8 | (32 | ) | ||||||||||||
Net current period other comprehensive income (loss) | (28 | ) | 36 | 9 | 17 | ||||||||||||||
Ending balance | $ | (118 | ) | $ | 20 | $ | 34 | $ | (64 | ) | |||||||||
Three months ended June 30, 2013 | Unrealized | Unrealized | Estimated | Total | |||||||||||||||
gains (losses) on | gains (losses) | tax (expense) | |||||||||||||||||
available-for-sale | on cash flow | benefit | |||||||||||||||||
marketable | hedges | ||||||||||||||||||
securities | |||||||||||||||||||
Beginning balance | $ | 66 | $ | 222 | $ | (41 | ) | $ | 247 | ||||||||||
Other comprehensive income (loss) before reclassifications | (674 | ) | 112 | 186 | (376 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (96 | ) | (188 | ) | 46 | (238 | ) | ||||||||||||
Net current period other comprehensive income (loss) | (770 | ) | (76 | ) | 232 | (614 | ) | ||||||||||||
Ending balance | $ | (704 | ) | $ | 146 | $ | 191 | $ | (367 | ) | |||||||||
Six months ended June 30, 2013 | Unrealized | Unrealized | Estimated | Total | |||||||||||||||
gains (losses) on | gains (losses) | tax (expense) | |||||||||||||||||
available-for-sale | on cash flow | benefit | |||||||||||||||||
marketable | hedges | ||||||||||||||||||
securities | |||||||||||||||||||
Beginning balance | $ | 224 | $ | 216 | $ | (80 | ) | $ | 360 | ||||||||||
Other comprehensive income (loss) before reclassifications | (689 | ) | 218 | 174 | (297 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (239 | ) | (288 | ) | 97 | (430 | ) | ||||||||||||
Net current period other comprehensive income (loss) | (928 | ) | (70 | ) | 271 | (727 | ) | ||||||||||||
Ending balance | $ | (704 | ) | $ | 146 | $ | 191 | $ | (367 | ) | |||||||||
Details about Accumulated Other Comprehensive Income (Loss) Components | ' | ||||||||||||||||||
The following table provides details about reclassifications out of accumulated other comprehensive income (loss): | |||||||||||||||||||
Details about Accumulated | Amount Reclassified from Accumulated Other Comprehensive | Affected Line Item in the | |||||||||||||||||
Other Comprehensive | Income (Loss) | Statements of Operations | |||||||||||||||||
Income (Loss) Components | |||||||||||||||||||
Six months ended June 30, | Three months ended June 30, | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||||
Unrealized gains on cash flow hedges | $ | — | $ | 9 | $ | — | $ | 5 | Cost of revenues | ||||||||||
20 | 236 | 19 | 156 | Research and development | |||||||||||||||
2 | 19 | 2 | 11 | Sales and marketing | |||||||||||||||
2 | 24 | 2 | 16 | General and administrative | |||||||||||||||
24 | 288 | 23 | 188 | Total, before income taxes | |||||||||||||||
(3 | ) | (29 | ) | (3 | ) | (19 | ) | Provision for income taxes | |||||||||||
21 | 259 | 20 | 169 | Total, net of income taxes | |||||||||||||||
Unrealized gains on available-for-sale marketable securities | 16 | 239 | 17 | 96 | Financial income, net | ||||||||||||||
(5 | ) | (68 | ) | (6 | ) | (27 | ) | Provision for income taxes | |||||||||||
11 | 171 | 11 | 69 | Total, net of income taxes | |||||||||||||||
$ | 32 | $ | 430 | $ | 31 | $ | 238 | Total, net of income taxes |
Summary_of_AvailableforSale_Ma
Summary of Available-for-Sale Marketable Securities (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost, Total | $42,981 | $68,554 |
Gross unrealized gains, Total | 57 | 140 |
Gross unrealized losses, Total | -175 | -230 |
Fair value, Total | 42,863 | 68,464 |
Corporate bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale - matures within one year, Amortized cost | 5,455 | 2,852 |
Available-for-sale - matures after one year through three years, Amortized cost | 37,526 | 65,702 |
Available-for-sale - matures within one year, Gross unrealized gains | 19 | 6 |
Available-for-sale - matures after one year through three years, Gross unrealized gains | 38 | 134 |
Available-for-sale - matures within one year, Gross unrealized losses | -7 | -3 |
Available-for-sale - matures after one year through three years, Gross unrealized losses | -168 | -227 |
Available-for-sale - matures within one year, Fair value | 5,467 | 2,855 |
Available-for-sale - matures after one year through three years, Fair value | $37,396 | $65,609 |
Summary_of_Gross_Unrealized_Lo
Summary of Gross Unrealized Losses and Fair Values on Investments (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Less than 12 months, Fair value | $18,585 | $28,535 |
Available-for-sale securities- matures within one year, Gross unrealized losses | -112 | -208 |
12 months or greater, Fair value | 11,300 | 4,278 |
Available-for-sale securities- matures after one year through three years, Gross unrealized losses | ($63) | ($22) |
Summary_of_Gross_Realized_Gain
Summary of Gross Realized Gain and Loss from Sale of Available-for-Sale Marketable Securities (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' | ' |
Gross realized gain from sale of available-for-sale marketable securities | $58 | $104 | $69 | $256 |
Gross realized loss from sale of available-for-sale marketable securities | ($41) | ($8) | ($53) | ($17) |
Fair_Value_Measurement_Detail
Fair Value Measurement (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Marketable securities | $42,863 | $68,464 |
Foreign exchange contracts | 20 | ' |
Total assets | 42,883 | ' |
Liabilities: | ' | ' |
Foreign exchange contracts | ' | 16 |
Corporate bonds | ' | ' |
Assets: | ' | ' |
Marketable securities | 42,863 | 68,464 |
Level II | ' | ' |
Assets: | ' | ' |
Foreign exchange contracts | 20 | ' |
Total assets | 42,883 | ' |
Liabilities: | ' | ' |
Foreign exchange contracts | ' | 16 |
Level II | Corporate bonds | ' | ' |
Assets: | ' | ' |
Marketable securities | $42,863 | $68,464 |
Recovered_Sheet1
Geographic Information and Major Customer Data - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2014 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of reportable segments | 1 |
Revenues_Based_on_Customer_Loc
Revenues Based on Customer Location (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total revenues | $9,215 | $12,813 | $22,889 | $24,929 | ||||
United States | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total revenues | 1,568 | 1,571 | 6,735 | 3,224 | ||||
Europe and Middle East | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total revenues | 1,500 | 3,401 | 3,338 | 7,425 | ||||
Asia Pacific | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total revenues | 6,147 | 7,841 | 12,816 | 14,280 | ||||
Germany | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total revenues | ' | [1] | 1,837 | ' | [1] | 3,521 | ||
China | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total revenues | 3,773 | 6,811 | 6,486 | 10,829 | ||||
Taiwan | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total revenues | ' | [1] | ' | [1] | 3,134 | ' | [1] | |
S.Korea | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total revenues | 1,153 | ' | [1] | ' | [1] | ' | [1] | |
Japan | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total revenues | $1,013 | ' | [1] | ' | [1] | ' | [1] | |
[1] | *) Less than 10% |
Major_Customers_Data_as_Percen
Major Customers Data as Percentage of Total Revenues (Detail) (Revenue, Customer Concentration Risk) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |||||
Customer A | ' | ' | ' | ' | ||||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ||||
Percentage of total revenues | 28.00% | 47.00% | 21.00% | 32.00% | ||||
Customer B | ' | ' | ' | ' | ||||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ||||
Percentage of total revenues | ' | [1] | 14.00% | ' | [1] | 14.00% | ||
Customer C | ' | ' | ' | ' | ||||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ||||
Percentage of total revenues | 12.00% | ' | [1] | ' | [1] | ' | [1] | |
Customer D | ' | ' | ' | ' | ||||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ||||
Percentage of total revenues | ' | [1] | ' | [1] | 13.00% | ' | [1] | |
Customer E | ' | ' | ' | ' | ||||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ||||
Percentage of total revenues | ' | [1] | ' | [1] | 13.00% | ' | [1] | |
[1] | *) Less than 10% |
Calculation_of_Basic_and_Dilut
Calculation of Basic and Diluted Net Income (Loss) Per Share (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Numerator: | ' | ' | ' | ' |
Net income (loss) | ($1,526) | $2,175 | $459 | $3,880 |
Denominator (in thousands): | ' | ' | ' | ' |
Weighted-average common stock outstanding | 20,778 | 22,087 | 20,968 | 22,142 |
Effect of stock options and stock appreciation rights | ' | 459 | 400 | 466 |
Diluted weighted average common stock outstanding | 20,778 | 22,546 | 21,368 | 22,608 |
Basic net income (loss) per share | ($0.07) | $0.10 | $0.02 | $0.18 |
Diluted net income (loss) per share | ($0.07) | $0.10 | $0.02 | $0.17 |
Recovered_Sheet2
Net Income (Loss) Per Share of Common Stock - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Anti-dilutive shares excluded from computation of earnings per share | 2,211,919 | 1,579,315 | 2,207,358 | 1,521,826 |
Recovered_Sheet3
Common Stock and Stock-Based Compensation Plans - Additional Information (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options granted under stock incentive plans vesting rate, year one | 25.00% |
Remaining shares vesting period | '36 months |
Unrecognized compensation expense | $4,413 |
Unrecognized compensation expense, weighted-average period of recognition | '1 year 3 months 18 days |
Non Employee Director | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options granted under stock incentive plan vesting rate, each anniversary | 25.00% |
Maximum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Shares vesting period | '4 years |
Stock Appreciation Rights (SARs) | Maximum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options granted percentage | 400.00% |
Summary_of_Stock_Option_Activi
Summary of Stock Option Activity (Detail) (USD $) | 6 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | |
Number of shares outstanding, Options/SAR units | ' | |
Number of shares outstanding, Options/SAR units, Beginning balance | 3,115,972 | |
Number of shares outstanding, Options/SAR units, Ending balance | 3,186,250 | [1] |
Number of shares exercisable,Options/SAR units, Ending balance | 1,914,216 | [2] |
Weighted-average exercise price, Options/SAR units | ' | |
Weighted-average exercise price, Options/SAR units, Beginning balance | $16.30 | |
Weighted average exercise price, Options/SAR units, Ending balance | $16.46 | [1] |
Weighted average exercise price, Options/SAR units exercisable | $15.93 | [2] |
Weighted-Average Remaining Contractual Term, Options/SAR units | ' | |
Weighted average remaining contractual life, Options/SAR units outstanding at end of period | '4 years 8 months 12 days | [1] |
Weighted average remaining contractual life, Options/SAR units exercisable at end of period | '3 years 6 months | [2] |
Aggregate intrinsic value, Options/SAR units | ' | |
Aggregate intrinsic value, Options/SAR units outstanding | $4,719,046 | [1] |
Aggregate intrinsic value, Options/SAR units exercisable | $4,707,282 | [2] |
Stock Options and SARs | ' | |
Number of shares outstanding, Options/SAR units | ' | |
Number of shares, Options/SAR units granted | 199,500 | [3] |
Number of shares, Options/SAR units exercised | -102,078 | |
Number of shares, Options/SAR units forfeited or expired | -27,144 | |
Weighted-average exercise price, Options/SAR units | ' | |
Weighted average exercise price, Options/SAR units granted | $15.36 | [3] |
Weighted average exercise price, Options/SAR units exercised | $8.60 | |
Weighted average exercise price, Options/SAR units forfeited or expired | $19.16 | |
[1] | Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 2,874,037 shares of the Company's common stock issuable upon exercise. | |
[2] | Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 1,812,684 shares of the Company's common stock issuable upon exercise. | |
[3] | Included 67,500 SAR units which are convertible for a maximum number of shares of the Company's common stock equal to 75% of the SAR units subject to the grant. |
Summary_of_Stock_Option_Activi1
Summary of Stock Option Activity (Parenthetical) (Detail) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
Stock Appreciation Rights (SARs) | Maximum | Maximum | ||||
Stock Appreciation Rights (SARs) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | |
Number of shares, Options/SAR units granted | ' | ' | 67,500 | ' | ' | |
Maximum percentage of stock appreciation right units | ' | ' | ' | ' | 75.00% | |
Outstanding amount of options and stock appreciation right units | 3,186,250 | [1] | 3,115,972 | ' | 2,874,037 | ' |
Exercisable amount of options and stock appreciation right units | 1,914,216 | [2] | ' | ' | 1,812,684 | ' |
[1] | Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 2,874,037 shares of the Company's common stock issuable upon exercise. | |||||
[2] | Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 1,812,684 shares of the Company's common stock issuable upon exercise. |
EquityBased_Compensation_Expen
Equity-Based Compensation Expense Included in Interim Condensed Consolidated Statements of Operations (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total equity-based compensation expense | $1,348 | $1,346 | $2,861 | $2,664 |
Cost of revenue | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total equity-based compensation expense | 56 | 81 | 114 | 150 |
Research and development, net | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total equity-based compensation expense | 533 | 409 | 1,134 | 855 |
Sales and marketing | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total equity-based compensation expense | 266 | 332 | 568 | 628 |
General and administrative | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total equity-based compensation expense | $493 | $524 | $1,045 | $1,031 |
Assumptions_Used_to_Estimate_F
Assumptions Used to Estimate Fair Value of Stock Options Granted (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Expected volatility, Minimum | 38.00% | 38.00% | 37.00% | 38.00% |
Expected volatility, Maximum | 51.00% | 53.00% | 52.00% | 54.00% |
Risk-free interest rate, Minimum | 0.10% | 0.10% | 0.10% | 0.10% |
Risk-free interest rate, Maximum | 2.50% | 2.50% | 2.50% | 2.50% |
Expected forfeiture (employees) | 10.00% | 10.00% | 10.00% | 10.00% |
Expected forfeiture (executives) | 5.00% | 5.00% | 5.00% | 5.00% |
Contractual term of up to | '10 years | '10 years | '10 years | '10 years |
Employees | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Suboptimal exercise multiple | 2.1 | 2.1 | 2.1 | 2.1 |
Executives | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Suboptimal exercise multiple | 2.4 | 2.4 | 2.4 | 2.4 |
Assumptions_Used_to_Estimate_F1
Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Expected volatility, Minimum | 38.00% | 38.00% | 37.00% | 38.00% |
Expected volatility, Maximum | 51.00% | 53.00% | 52.00% | 54.00% |
Risk-free interest rate, Minimum | 0.10% | 0.10% | 0.10% | 0.10% |
Risk-free interest rate, Maximum | 2.50% | 2.50% | 2.50% | 2.50% |
Expected forfeiture | 10.00% | 10.00% | 10.00% | 10.00% |
Contractual term of up to | '10 years | '10 years | '10 years | '10 years |
Employee stock purchase plan | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected dividend yield | ' | ' | 0.00% | 0.00% |
Expected volatility, Minimum | ' | ' | 43.00% | 45.00% |
Expected volatility, Maximum | ' | ' | 52.00% | 53.00% |
Risk-free interest rate, Minimum | ' | ' | 0.10% | 0.10% |
Risk-free interest rate, Maximum | ' | ' | 0.20% | 0.20% |
Expected forfeiture | ' | ' | 0.00% | 0.00% |
Contractual term of up to | ' | ' | '24 months | '24 months |
Recovered_Sheet4
Derivatives and Hedging Activities - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Derivatives not qualified as hedging instruments | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' |
Gain (loss) recognized in income, net | $0 | $178 | $0 | $112 | $0 |
Derivatives designated as cash flow hedging instruments | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' |
Gain (loss) recognized in income, net | 23 | 188 | 24 | 288 | ' |
Derivatives designated as cash flow hedging instruments | Foreign exchange contracts | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' |
Notional principal amount of Hedging Contracts | $1,260 | ' | $1,260 | ' | $720 |
Fair_Value_of_Outstanding_Deri
Fair Value of Outstanding Derivative Instruments (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Derivative assets | $20 | ' |
Derivative liabilities | ' | 16 |
Foreign exchange option contracts | Derivatives designated as cash flow hedging instruments | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative assets | 17 | ' |
Foreign exchange forward contracts | Derivatives designated as cash flow hedging instruments | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative assets | 3 | ' |
Derivative liabilities | ' | $16 |
Net_Unrealized_Gains_Reclassif
Net Unrealized Gains Reclassified from "Accumulated Other Comprehensive Income (Loss)" (Detail) (Derivatives designated as cash flow hedging instruments, USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total | $32 | $112 | $60 | $218 |
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | -23 | -188 | -24 | -288 |
Foreign exchange option contracts | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total | 17 | 25 | 28 | 93 |
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | -11 | -98 | -11 | -158 |
Foreign exchange forward contracts | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total | 15 | 87 | 32 | 125 |
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | ($12) | ($90) | ($13) | ($130) |
Changes_in_Accumulated_Balance
Changes in Accumulated Balances of Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Net current period other comprehensive income (loss), before tax | ($13) | ($846) | $8 | ($998) |
Net current period other comprehensive income (loss) | 5 | 232 | 9 | 271 |
Beginning balance, Total | -56 | 247 | -81 | 360 |
Other comprehensive income (loss) before reclassifications, Total | 23 | -376 | 49 | -297 |
Amounts reclassified from accumulated other comprehensive income (loss), Total | -31 | -238 | -32 | -430 |
Net current period other comprehensive income (loss), Total | -8 | -614 | 17 | -727 |
Ending balance, Total | -64 | -367 | -64 | -367 |
Estimated tax (expense) benefit | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance | 29 | -41 | 25 | -80 |
Other comprehensive income (loss) before reclassifications | -4 | 186 | 1 | 174 |
Amounts reclassified from accumulated other comprehensive income (loss) | 9 | 46 | 8 | 97 |
Net current period other comprehensive income (loss) | 5 | 232 | 9 | 271 |
Ending balance | 34 | 191 | 34 | 191 |
Unrealized gains (losses) on available-for-sale marketable securities | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance, before tax | -96 | 66 | -90 | 224 |
Other comprehensive income (loss) before reclassifications, before tax | -5 | -674 | -12 | -689 |
Amounts reclassified from accumulated other comprehensive income (loss), before tax | -17 | -96 | -16 | -239 |
Net current period other comprehensive income (loss), before tax | -22 | -770 | -28 | -928 |
Ending balance, before tax | -118 | -704 | -118 | -704 |
Unrealized gains (losses) on cash flow hedges | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance, before tax | 11 | 222 | -16 | 216 |
Other comprehensive income (loss) before reclassifications, before tax | 32 | 112 | 60 | 218 |
Amounts reclassified from accumulated other comprehensive income (loss), before tax | -23 | -188 | -24 | -288 |
Net current period other comprehensive income (loss), before tax | 9 | -76 | 36 | -70 |
Ending balance, before tax | $20 | $146 | $20 | $146 |
Details_about_Accumulated_Othe
Details about Accumulated Other Comprehensive Income (Loss) Components (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Cost of revenues | $1,370 | $1,093 | $2,482 | $2,668 |
Financial income, net | 417 | 707 | 877 | 1,436 |
Research and development | 6,051 | 5,621 | 12,047 | 10,660 |
Sales and marketing | 2,197 | 2,540 | 4,590 | 4,895 |
General and administrative | 1,861 | 1,744 | 3,901 | 3,582 |
Income before taxes on income | -1,847 | 2,522 | 746 | 4,560 |
Provision for income taxes | 321 | -347 | -287 | -680 |
Net income (loss) | -1,526 | 2,175 | 459 | 3,880 |
Reclassification out of accumulated other comprehensive income (loss) | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net income (loss) | 31 | 238 | 32 | 430 |
Reclassification out of accumulated other comprehensive income (loss) | Unrealized gains (losses) on cash flow hedges | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Cost of revenues | ' | 5 | ' | 9 |
Research and development | 19 | 156 | 20 | 236 |
Sales and marketing | 2 | 11 | 2 | 19 |
General and administrative | 2 | 16 | 2 | 24 |
Income before taxes on income | 23 | 188 | 24 | 288 |
Provision for income taxes | -3 | -19 | -3 | -29 |
Net income (loss) | 20 | 169 | 21 | 259 |
Reclassification out of accumulated other comprehensive income (loss) | Unrealized gains (losses) on available-for-sale marketable securities | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Financial income, net | 17 | 96 | 16 | 239 |
Provision for income taxes | -6 | -27 | -5 | -68 |
Net income (loss) | $11 | $69 | $11 | $171 |
Share_Repurchase_Program_Addit
Share Repurchase Program - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jul. 31, 2013 | Jan. 31, 2012 |
Rule 10b-18 | Rule 10b-18 | |||||
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' |
Common stock shares, remaining authorized | 297,463 | ' | 297,463 | ' | ' | 1,966,700 |
Common stock, additional number of shares authorized to repurchase | ' | ' | ' | ' | 2,000,000 | ' |
Purchase of Treasury Stock, shares | 694,066 | 175,778 | 929,685 | 304,738 | ' | ' |
Purchase of Treasury Stock, per share value | $14.62 | $16.21 | $15.35 | $15.92 | ' | ' |
Purchase of Treasury Stock | $10,144 | $2,849 | $14,272 | $4,851 | ' | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (Subsequent Event) | 1 Months Ended | ||
In Thousands, unless otherwise specified | Jul. 31, 2014 | Aug. 06, 2014 | Aug. 06, 2014 |
RivieraWaves | Antcor Advanced Network Technologies S.A | Antcor Advanced Network Technologies S.A | |
USD ($) | USD ($) | EUR (€) | |
Subsequent Event [Line Items] | ' | ' | ' |
Approximate amount agreed to pay for acquisition | $19,000 | ' | ' |
Amount paid on connection with acquisition | 11,969 | ' | ' |
Expense payable to employee under retention plan | 3,400 | ' | ' |
Business acquisition consideration received | ' | 1,014 | 757 |
Minority investment acquired | ' | $1,561 | € 1,250 |