Inteliquent (IQNT) 10-Q 29 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 09, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	IQNT
Entity Registrant Name	INTELIQUENT, INC.
Entity Central Index Key	1,292,653
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		33,754,838

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 112,077	$ 104,737
Receivables — net of allowance of $2,526 and $2,336, respectively	38,763	32,766
Deferred income taxes-current		836
Prepaid expenses	5,414	2,198
Other current assets	705	1,320
Total current assets	156,959	141,857
Property and equipment—net	36,097	23,678
Restricted cash	345	345
Deferred income taxes-noncurrent	5,644	3,284
Other assets	1,147	1,007
Total assets	200,192	170,171
Current liabilities:
Accounts payable	1,592	1,607
Accrued liabilities:
Taxes payable	883	1,263
Network and facilities	15,219	7,266
Rent	1,941	2,015
Payroll and related items	5,351	3,079
Other	1,442	897
Deferred income taxes-current	175
Total current liabilities	$ 26,603	$ 16,127
Shareholders’ equity:
Preferred stock—par value of $.001; 50,000 authorized shares; no shares issued and outstanding at September 30, 2015 and December 31, 2014
Common stock—par value of $.001; 150,000 authorized shares; 33,736 shares and 33,458 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	$ 34	$ 33
Less treasury stock, at cost; 3,351 shares at September 30, 2015 and December 31, 2014	(51,668)	(51,668)
Additional paid-in capital	222,828	217,628
Retained earnings (Accumulated deficit)	2,395	(11,949)
Total shareholders’ equity	173,589	154,044
Total liabilities and shareholders' equity	$ 200,192	$ 170,171

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Receivables, allowance	$ 2,526	$ 2,336
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	150,000,000	150,000,000
Common stock, shares issued	33,736,000	33,736,000
Common stock, shares outstanding	33,458,000	33,458,000
Treasury stock, shares, at cost	3,351,000	3,351,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Revenue	$ 63,716	$ 54,045	$ 171,656	$ 165,143
Operating expense:
Network and facilities expense (excluding depreciation and amortization)	34,858	23,016	78,918	71,035
Operations	7,955	7,432	22,966	21,941
Sales and marketing	690	1,048	2,098	2,542
General and administrative	4,648	3,645	14,145	12,699
Depreciation and amortization	2,894	2,985	8,137	9,136
(Gain) loss on sale of property and equipment	(4)	2	(120)	(29)
Loss on sale of Americas data assets				1,081
Total operating expense	51,041	38,128	126,144	118,405
Income from operations	12,675	15,917	45,512	46,738
Other expense (income):
Interest expense	9	18	36	37
Other income			(1,290)	(2)
Total other expense (income)	9	18	(1,254)	35
Income before provision for income taxes	12,666	15,899	46,766	46,703
Provision for income taxes	4,399	6,123	17,317	18,286
Net income	$ 8,267	$ 9,776	$ 29,449	$ 28,417
Earnings per share:
Basic	$ 0.25	$ 0.30	$ 0.88	$ 0.87
Diluted	$ 0.24	$ 0.29	$ 0.86	$ 0.86
Weighted average number of shares outstanding:
Basic	33,620	33,115	33,562	32,743
Diluted	34,138	33,343	34,057	33,033
Dividends paid per share:	$ 0.15	$ 0.15	$ 0.45	$ 0.30

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating
Net income	$ 29,449	$ 28,417
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	8,137	9,136
Deferred income taxes	(1,349)	345
(Gain) loss on sale of property and equipment	(120)	(29)
Loss on sale of Americas data assets		1,081
Gain on settlement of Tinet escrow	(1,290)
Non-cash share-based compensation	4,049	3,268
Provision for uncollectible accounts	211	1,826
Excess tax benefit associated with share-based payments	(1,299)	(896)
Changes in assets and liabilities:
Receivables	(6,203)	(10,926)
Other current assets	(2,619)	(1,340)
Other noncurrent assets	(140)	210
Accounts payable	331	(162)
Accrued liabilities	12,924	(138)
Net cash provided by operating activities	42,081	30,792
Investing
Purchase of property and equipment	(20,943)	(6,279)
Proceeds from sale of property and equipment	173	41
Increase in restricted cash		(220)
Net cash used for investing activities	(20,770)	(6,458)
Financing
Proceeds from the exercise of stock options	869	7,728
Restricted shares withheld to cover employee taxes paid	(1,034)	(686)
Dividends paid	(15,105)	(9,900)
Excess tax benefit associated with share-based payments	1,299	896
Net cash used for financing activities	(13,971)	(1,962)
Net increase in cash and cash equivalents	7,340	22,372
Cash and cash equivalents — Beginning	104,737	77,004
Cash and cash equivalents — Ending	112,077	99,376
Supplemental disclosure of cash flow information:
Cash paid for taxes	20,058	20,053
Supplemental disclosure of noncash flow items:
Investing activity — Accrued purchases of property and equipment	$ 1,002	$ 1,410

DESCRIPTION OF THE BUSINESS

DESCRIPTION OF THE BUSINESS	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
DESCRIPTION OF THE BUSINESS	1. DESCRIPTION OF THE BUSINESS Organization — Inteliquent, Inc. (the “Company”) provides voice telecommunications services primarily on a wholesale basis. The Company offers these services using an all-IP network, which enables the Company to deliver global connectivity for a variety of media, including voice and, historically, data and video. The Company’s solutions enable carriers and other providers to deliver voice traffic or other services where they do not have their own network or elect not to use their own network. These solutions are sometimes called “off-net” services. We also provide our solutions to customers, such as “over-the-top” providers, who also typically do not have their own network. On April 30, 2013, the Company completed its divestiture of the global data business. The agreement governing the sale contained certain provisions governing post-closing adjustments to the purchase price. During the year ended December 31, 2014, the Company recorded a $1.1 million loss on the sale of the global data business as a result of the settlement with the buyer regarding the purchase price adjustments. During the three months ended March 31, 2015, the Company received a $1.3 million payment from an escrow fund that had been established in connection with the Company’s purchase of the Tinet global data business in 2010. The Company received this payment as a result of a settlement with the sellers of Tinet. The settlement related to a dispute regarding the Company’s claim that certain tax liabilities were not properly represented to the Company at the time the transaction closed. This payment was recorded as other income in the Company’s Condensed Consolidated Statements of Income for the three months ended March 31, 2015 and the nine months ended September 30, 2015, and as an operating cash inflow in the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2015.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation — The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Interim Condensed Consolidated Financial Statements — The accompanying condensed consolidated balance sheets as of September 30, 2015 and December 31, 2014, the condensed consolidated statements of income for the three months and nine months ended September 30, 2015 and 2014, and the condensed consolidated statements of cash flows for the nine months ended September 30, 2015 and 2014 are unaudited. The condensed consolidated balance sheet data as of December 31, 2014 was derived from the audited consolidated financial statements which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) pursuant to the rules and regulations of the Securities and Exchange Commission applicable to interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the unaudited interim condensed consolidated financial statements as of September 30, 2015 and for the three months and nine months ended September 30, 2015 and 2014 have been prepared on the same basis as the audited consolidated statements and reflect all adjustments, which are normal recurring adjustments, necessary for the fair presentation of its statement of financial position, results of operations and cash flows. The results of operations for the three months and nine months ended September 30, 2015 are not necessarily indicative of the operating results for any subsequent quarter, for the full fiscal year or any future periods. Cash and Cash Equivalents — The Company considers all highly liquid investments with an original maturity of 90 days or less to be cash and cash equivalents. The carrying values of the Company’s cash and cash equivalents approximate fair value. At September 30, 2015, the Company had $15.2 million of cash in banks and $96.9 million in four money market mutual funds. At December 31, 2014, the Company had $32.9 million of cash in banks and $71.8 million in three money market mutual funds. Fair Value Measurements — Certain assets and liabilities are required to be recorded at fair value on a recurring basis. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Assets measured at fair value on a nonrecurring basis include long-lived assets held and used. The fair value of cash and cash equivalents, accounts receivable and accounts payable approximate their carrying values. The three-tier fair value hierarchy, which prioritizes valuation methodologies based on the reliability of the inputs, is: Level 1— Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2— Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3— Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. Accounts Receivable and Allowance for Doubtful Accounts — Accounts receivable consist of trade receivables recorded upon recognition of revenue from sales of voice services, reduced by reserves for estimated bad debts. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Credit is extended based on evaluation of the customer’s financial condition. We make judgments as to our ability to collect outstanding receivables and provide allowances for a portion of receivables when collection becomes doubtful. The specific identification method is applied to all significant outstanding invoices to determine this provision. Our allowance for doubtful accounts was $2.5 million and $2.3 million at September 30, 2015 and December 31, 2014, respectively. Property and Equipment — Property and equipment is recorded at cost. These values are depreciated over the estimated useful lives of the individual assets using the straight-line method. Any gains and losses from the disposition of property and equipment are included in operations as incurred. The estimated useful life for network equipment and tools and test equipment is five years. The estimated useful life for computer equipment, computer software and furniture and fixtures is three years. Leasehold improvements are amortized on a straight-line basis over an estimated useful life of five years or the life of the lease, whichever is less. As discussed below, the impairment of long-lived assets is periodically evaluated when events or changes in circumstances indicate that a potential impairment has occurred. Long-lived Assets — The carrying value of long-lived assets, including property and equipment, are reviewed whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Impairment of assets with definite lives is generally determined by comparing projected undiscounted cash flows to be generated by the asset, or appropriate grouping of assets, to its carrying value. If an impairment is identified, a loss is recorded equal to the excess of the asset’s net book value over its fair value. The fair value becomes the new cost basis of the asset. Determining the extent of an impairment, if any, typically requires various estimates and assumptions including using management’s judgment, cash flows directly attributable to the asset, the useful life of the asset and residual value, if any. In addition, the remaining useful life of the impaired asset is revised, if necessary. There were no property and equipment or intangible asset impairment charges in 2014 or during the three months and nine months ended September 30, 2015. Revenue Recognition — The Company generates revenue from sales of its voice services. The Company maintains tariffs and executed service agreements with each of its customers in which specific fees and rates are determined. One customer agreement contains multiple voice service elements and is accounted for as a multiple-element arrangement under Accounting Standards Codification (“ASC”) topic 605-25 Revenue Recognition- Multiple Element Arrangements. Following the requirements of ASC 605-25, the Company evaluated the multiple-element arrangement to determine which deliverables represented separate units of accounting and then allocated consideration to each unit of accounting based on their selling prices using relative fair values. Some of these deliverables are treated as non-monetary transactions which are also recorded at fair value. Voice revenue is recorded each month on an accrual basis, when collection is probable, based upon minutes of traffic switched by the Company’s network by each customer, which is referred to as minutes of use. Certain customer agreements contain multiple elements that are treated as non-monetary transactions which the Company records at fair value. Earnings per Share — Basic earnings per share is computed based on the weighted average number of common shares and participating securities outstanding. Diluted earnings per share is computed based on the weighted average number of common shares and participating securities outstanding adjusted by the number of additional shares that would have been outstanding during the period had the potentially dilutive securities been issued. The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share of common stock based upon the two-class method: Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2015 2014 2015 2014 Numerator: Net income $ 8,267 $ 9,776 $ 29,449 $ 28,417 Denominator: Weighted average common shares outstanding 33,620 33,115 33,562 32,743 Effect of dilutive securities: Stock options and performance stock units 518 228 495 290 Denominator for diluted earnings per share 34,138 33,343 34,057 33,033 Earnings per share - net income Basic - as reported $ 0.25 $ 0.30 $ 0.88 $ 0.87 Diluted - as reported $ 0.24 $ 0.29 $ 0.86 $ 0.86 Certain awards were not included in the computation of diluted earnings per share because the effect would have been antidilutive. Outstanding share-based awards of 0.7 million for both the three and nine months ended September 30, 2015 were considered antidilutive. Outstanding share-based awards of 1.5 million for both the three and nine months ended September 30, 2014 were considered antidilutive. The undistributed earnings allocable to participating securities were less than $0.1 million and $0.2 million for both the three months and nine months ended September 30, 2015, respectively. Accounting for Stock-Based Compensation — The Company records stock-based compensation expense related to stock options, non-vested shares and performance stock units based on fair value. The amount of non-cash share-based expense recorded in the three months ended September 30, 2015 and 2014 was $1.3 million and $1.2 million, respectively. The amount of non-cash share-based expense recorded in the nine months ended September 30, 2015 and 2014 was $4.0 million and $3.3 million, respectively. Refer to Note 5, “Stock Options, Non-Vested Shares and Performance Stock Units.” The fair value of stock options is determined using the Black-Scholes valuation model. This model takes into account the exercise price of the stock option, the fair value of the common stock underlying the stock option as measured on the date of grant and an estimation of the volatility of the common stock underlying the stock option. Such value is recognized as expense over the service period, net of estimated forfeitures, using the straight line method. The fair value of non-vested shares is measured based upon the quoted closing market price for the stock on the date of grant. The compensation cost is recognized on a straight-line basis over the vesting period. The fair value of each performance stock unit granted is estimated using a Monte Carlo pricing model. The Monte Carlo simulation model is based on a discounted cash flow approach, with the simulation of a large number of possible stock price outcomes for the Company’s stock and the applicable index. termination of an individual’s service prior to fulfilling the requisite service period will result in forfeiture of units and compensation cost will be reversed. The estimation of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from the Company’s current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised. The Company considers many factors when estimating expected forfeitures, including types of awards, employee class and historical experience. Actual results, and future changes in estimates, may differ from the Company’s current estimates. Recent Accounting Pronouncements — In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers , which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The ASU is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. The ASU is effective for annual reporting periods beginning after December 15, 2017 and early adoption as of December 15, 2016 is permitted. The Company is currently assessing the impact of this standard on the Company’s condensed consolidated financial statements or disclosures . In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Cost, which debt issuance costs related to a recognized debt liability, be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. This ASU requires retrospective application and represents a change in accounting principle. This ASU is effective for fiscal years beginning after December 15, 2015, and early adoption is permitted for financial statements that have not been previously issued. The Company has assessed the impact of this standard and does not believe that it will have a material impact on the Company’s condensed consolidated financial statements or disclosures. In June 2015, the FASB issued ASU No. 2015-10, Technical Corrections and Improvements, and interim periods within those fiscal years, early adoption is permitted. condensed consolidated financial statements or disclosures

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	9 Months Ended
	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	3. LEGAL PROCEEDINGS From time to time, the Company is a party to legal proceedings arising in the normal course of its business. Aside from the matters discussed below, the Company does not believe that it is a party to any pending legal action that could reasonably be expected to have a material effect on its business or operating results, financial position or cash flows. OTT Access Charge Dispute On November 18, 2011, the Federal Communications Commission (the “FCC”) issued an order establishing, among other things, an intercarrier compensation framework for the exchange of switched access traffic. In its order, the FCC attempted to clarify the circumstances under which local exchange carriers are eligible to receive access charges when they deliver access traffic in partnership with entities that provide service using so-called Voice over Internet Protocol, or (“VoIP”) technology. The FCC determined that, under certain circumstances, local exchange carriers are eligible to receive access charges when delivering access traffic in partnership with VoIP providers. The FCC has referred to its determination on this issue as the “VoIP Symmetry Rule.” Subsequent to the FCC’s November 2011 order, further disputes developed within the industry concerning the interpretation of the VoIP Symmetry Rule. A number of long-distance carriers took the position that, notwithstanding the VoIP Symmetry Rule, local exchange carriers were still not eligible to receive access charges when delivering access traffic in partnership with VoIP providers that deliver service using so-called over-the-top, or (“OTT”) technology. On February 11, 2015, the FCC released an order clarifying that, pursuant to its VoIP Symmetry Rule, local carriers are entitled to receive access charges when delivering access traffic in partnership with VoIP providers that utilize OTT technology under certain circumstances. This order has been appealed to a federal appellate court. We have disputes with a number of long distance carriers regarding the payment of access charges relating to the origination and termination of traffic to VoIP providers that utilize OTT technology. Management has made judgments as to our ability to collect based on known facts and circumstances and has only recorded revenue when collection has been deemed reasonably assured.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	4. INCOME TAXES Income taxes were computed using an effective tax rate, which is subject to ongoing review and evaluation by the Company. The Company’s estimated effective income tax rate was 34.7% and 37.0% for the three months and nine months ended September 30, 2015, compared to 38.5% and 39.2% for the three months and nine months ended September 30, 2014. The Company’s estimated effective income tax rate varies from the statutory federal income tax rate of 35% primarily due to the impact of state income taxes. The decrease in the Company’s effective income tax rate for both the three and nine months ended September 30, 2015, as compared to both the three and nine months ended September 30, 2014, was primarily due to various federal and state provision adjustments associated with the filing of the Company’s prior year tax returns. Excluding these discrete adjustments, the Company’s effective rate for both the three and nine months ended September 30, 2015 would have approximated 38.0%. The Company has recorded a valuation allowance against the capital loss created by the sale of its global data business and the Illinois EDGE Credit. The Company believes it is more likely than not that these assets will not be fully realized in the foreseeable future. The realization of deferred tax assets is dependent upon whether the Company can generate future taxable income in the appropriate character and jurisdiction to utilize the assets. The amount of the deferred tax assets considered realizable is subject to adjustment in future periods. The Company files U.S. federal, state and local income tax returns in the jurisdictions in which it is required to do so. With few exceptions, the Company is no longer subject to an audit of its tax filings for years before 2010. The Internal Revenue Service (“IRS”) has commenced an examination of the Company’s 2013 federal income tax return. As of September 30, 2015, the IRS has not proposed any material adjustments to such income tax return. Audit outcomes and timing of audit settlements are subject to significant uncertainty. It is reasonably possible that within the next twelve months, the Company will resolve any matters that may arise during the audit of the Company’s 2013 federal income tax return.

STOCK OPTIONS, NON-VESTED SHARE

STOCK OPTIONS, NON-VESTED SHARES AND PERFORMANCE STOCK UNITS	9 Months Ended
	Sep. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
STOCK OPTIONS AND NON-VESTED SHARES	5. STOCK OPTIONS, NON-VESTED SHARES AND PERFORMANCE STOCK UNITS The Company established the 2003 Stock Option and Stock Incentive Plan (the “2003 Plan”), which provided for the issuance of up to 4.7 million options, non-vested shares, and performance stock units to directors, employees and other individuals (whether or not employees) who render services to the Company. In 2007, the Company adopted the Neutral Tandem, Inc. 2007 Long-Term Equity Incentive Plan (the “2007 Plan”) and ceased awarding equity grants under the 2003 Plan. As of September 30, 2015, the Company had granted a total of 1.6 million options, 0.3 million non-vested shares, and 0.1 million performance stock units that remained outstanding under the 2007 Plan. Awards for 2.1 million shares, representing approximately 6.2% of the Company’s outstanding common stock as of September 30, 2015, remained available for additional grants under the 2007 Plan. Options All options granted under the 2003 Plan and the 2007 Plan have an exercise price equal to the market value of the underlying common stock on the date of the grant. During the three months ended September 30, 2015, the Company did not grant any options. During the nine months ended September 30, 2015, the Company granted 0.1 million options at a weighted average exercise price of $17.02. During the three months ended September 30, 2014, the Company did not grant any options. During the nine months ended September 30, 2014, the Company granted less than 0.1 million options at a weighted average exercise price of $13.86. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model. The following table summarizes the assumptions used for estimating the fair value of options for the nine months ended September 30, 2015 and September 30, 2014: September 30, September 30, 2015 2014 Expected life 7.0 years 7.2 years Risk-free interest rate 1.9% 2.1% Expected dividends 3.9% 2.1% Volatility 49.6% 60.0% The weighted average fair value of options granted, as determined by using the Black-Scholes valuation model, during the nine months ended September 30, 2015 and 2014 was $6.03 and $6.90, respectively. The total grant date fair value of options that vested during the nine months ended September 30, 2015 and 2014 was approximately $0.6 million and $0.9 million, respectively. The total intrinsic value (market value of stock option less option exercise price) of stock options exercised was $2.7 million and $3.0 million during the nine months ended September 30, 2015 and 2014, respectively. A summary of the Company’s stock option activity and related information for the nine months ended September 30, 2015 is as follows: Weighted Aggregate Weighted Average Intrinsic Average Shares Exercise Value Remaining (000) Price ($000) Term (yrs) Options outstanding — January 1, 2015 1,715 $ 12.97 Granted 124 17.02 Exercised (177 ) 4.92 Cancelled (87 ) 5.33 Options outstanding — September 30, 2015 1,575 $ 14.57 $ 12,233 4.43 Vested or expected to vest — September 30, 2015 1,570 $ 14.57 $ 12,184 4.41 Exercisable — September 30, 2015 1,284 $ 15.72 $ 8,493 3.61 The unrecognized compensation cost associated with options outstanding at September 30, 2015 and December 31, 2014 was $1.0 million and $0.9 million, respectively. The weighted average remaining term that the compensation will be recorded is 2.9 years and 2.1 years as of September 30, 2015 and December 31, 2014, respectively. Non-vested Shares During the three and nine months ended September 30, 2015, the Company granted zero and 0.2 million of non-vested shares, respectively, to members of the Company’s executive management team as well as various employees within the Company. During the three and nine months ended September 30, 2014, the Company granted less than 0.1 million and 0.2 million of non-vested shares, respectively, to members of the Company’s executive management team as well as various employees within the Company. The non-vested shares were issued as part of the 2007 Plan. The shares typically vest over a period ranging from upon date of grant to four years. The fair value of the non-vested shares is determined using the Company’s closing stock price on the grant date. Compensation cost, measured using the grant date fair value, is recognized over the requisite service period on a straight-line basis. A summary of the Company’s non-vested share activity and related information for the nine months ended September 30, 2015 is as follows: Weighted Aggregate Average Intrinsic Shares Grant Date Value (000) Fair Value ($000) Non-vested shares outstanding — January 1, 2015 396 $ 10.87 Granted 168 17.10 Vested (215 ) 12.52 Cancelled (8 ) 3.41 Non-vested shares outstanding — September 30, 2015 341 $ 13.08 $ 7,615 Non-vested shares vested or expected to vest —September 30, 2015 321 $ 13.08 $ 7,168 The aggregate intrinsic value represents the total pre-tax intrinsic value based on the Company’s closing stock price of $22.33 on September 30, 2015. The amount changes based upon the fair market value of the Company’s common stock. The unrecognized compensation cost associated with non-vested shares was $3.3 million at both September 30, 2015 and December 31, 2014. The weighted average remaining term that the compensation will be recorded was 2.2 years and 2.0 years as of September 30, 2015 and December 31, 2014, respectively. Performance Stock Units During the three and nine months ended September 30, 2015, the Company awarded zero and 0.1 million performance stock units, respectively, to members of the Company’s executive management team. These performance stock units represent a target number of shares (“Target Award”) of the Company’s common stock that the recipient would receive upon the Company’s attainment of the applicable performance goal. These performance stock units were issued in three tranches under the 2007 Plan. Performance is determined based on total shareholder return (“TSR”) during an 18-month, two- and three-year performance period for each of the three tranches, respectively. At the end of the performance period, the performance stock units will be distributed (to the extent earned and vested) in shares of the Company’s common stock based upon the level of achievement of the Company’s TSR performance targets set for the performance periods. Awards are payable on a graduated basis based on thresholds that measure the Company's performance relative to peers that comprise the applicable index on which each years' awards are measured. Awards can be paid up to 200% of the Target Award or forfeited with no payout if performance is below a minimum established performance threshold. In the event the participant’s employment is terminated without cause and more than half of the performance period has passed, the number of performance stock units issued shall be adjusted proportionately to the number of days of service rendered in the performance period over the total performance period. A summary of the Company’s performance stock unit activity and related information for the nine months ended September 30, 2015 is as follows: Performance Weighted Stock Average Units Grant Date (000) Fair Value Performance stock units outstanding — January 1, 2015 — $ — Granted 119 22.94 Vested — — Cancelled — — Performance stock units outstanding — September 30, 2015 119 $ 22.94 The unrecognized compensation cost associated with performance stock units outstanding at September 30, 2015 was $2.0 million. The weighted average remaining term that the compensation will be recorded is 1.8 years as of September 30, 2015. On January 16, 2015, the Company announced that Mr. Evans would be departing as its Chief Executive Officer in connection with the upcoming expiration of his employment agreement. On March 20, 2015, Mr. Evans entered into an interim employment agreement effective as of April 1, 2015. Under the interim employment agreement, Mr. Evans continued to serve as the Company’s Chief Executive Officer on an interim basis during a term that commenced on April 1, 2015 (the “Interim Employment Period”). The interim employment agreement provided for an annual salary of $1,029,600 and no discretionary annual incentive cash bonus. On June 5, 2015, the Company announced that it had appointed Matthew Carter, Jr.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	6. FAIR VALUE MEASUREMENT The Company’s money market funds are recognized and disclosed at fair value in the financial statements on a recurring basis. Fair value is defined as the price that would be received to sell an asset in an orderly transaction between market participants as of the measurement date. Fair value is measured using the fair value hierarchy and related valuation methodologies as defined in the authoritative literature. This guidance specifies a hierarchy of valuation techniques based on whether the inputs to each measurement are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s assumptions about current market conditions. The prescribed fair value hierarchy and related valuation methodologies are as follows: Level 1 - Quoted prices for identical instruments in active markets. Level 2 - Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. Level 3 - Valuations derived from valuation techniques, in which one or more significant inputs are unobservable. The fair value of the Company’s financial asset by level in the fair value hierarchy as of September 30, 2015 and December 31, 2014 was as follows: September 30, 2015 Level 1 Level 2 Level 3 Total Assets: Money Market Funds $ 96,853 $ — $ — $ 96,853 December 31, 2014 Level 1 Level 2 Level 3 Total Assets: Money Market Funds $ 71,836 $ — $ — $ 71,836 Valuation methodology Level 1—Quoted market prices in active markets are available for investments in money market funds. As such, these investments are classified within Level 1.

CREDIT FACILITY

CREDIT FACILITY	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
CREDIT FACILITY	7. CREDIT FACILITY On March 5, 2013, the Company entered into a $15.0 million revolving credit facility. The credit facility has a term of three years and an interest rate of LIBOR + 3.25%. The Company may use any borrowings under the revolving credit facility for general corporate purposes. No obligations were outstanding under the revolving credit facility during the nine months ended September 30, 2015 or at any time during the year ended December 31, 2014. As of September 30, 2015, the Company is currently in compliance with all of the covenants of the credit facility agreement.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC INFORMATION	8. SEGMENT AND GEOGRAPHIC INFORMATION Segment reporting establishes standards for reporting information about operating segments. 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 decision making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the Chief Executive Officer. The Chief Executive Officer reviews financial information presented on a consolidated basis. The Company operates in one industry segment which is to provide voice interconnection services via the Company’s telecommunications network to fulfill customer agreements. Therefore, the Company has concluded that it has one operating segment.

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation — The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Interim Condensed Consolidated Financial Statements	Interim Condensed Consolidated Financial Statements — The accompanying condensed consolidated balance sheets as of September 30, 2015 and December 31, 2014, the condensed consolidated statements of income for the three months and nine months ended September 30, 2015 and 2014, and the condensed consolidated statements of cash flows for the nine months ended September 30, 2015 and 2014 are unaudited. The condensed consolidated balance sheet data as of December 31, 2014 was derived from the audited consolidated financial statements which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) pursuant to the rules and regulations of the Securities and Exchange Commission applicable to interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the unaudited interim condensed consolidated financial statements as of September 30, 2015 and for the three months and nine months ended September 30, 2015 and 2014 have been prepared on the same basis as the audited consolidated statements and reflect all adjustments, which are normal recurring adjustments, necessary for the fair presentation of its statement of financial position, results of operations and cash flows. The results of operations for the three months and nine months ended September 30, 2015 are not necessarily indicative of the operating results for any subsequent quarter, for the full fiscal year or any future periods.
Cash and Cash Equivalents	Cash and Cash Equivalents — The Company considers all highly liquid investments with an original maturity of 90 days or less to be cash and cash equivalents. The carrying values of the Company’s cash and cash equivalents approximate fair value. At September 30, 2015, the Company had $15.2 million of cash in banks and $96.9 million in four money market mutual funds. At December 31, 2014, the Company had $32.9 million of cash in banks and $71.8 million in three money market mutual funds.
Fair Value Measurements	Fair Value Measurements — Certain assets and liabilities are required to be recorded at fair value on a recurring basis. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Assets measured at fair value on a nonrecurring basis include long-lived assets held and used. The fair value of cash and cash equivalents, accounts receivable and accounts payable approximate their carrying values. The three-tier fair value hierarchy, which prioritizes valuation methodologies based on the reliability of the inputs, is: Level 1— Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2— Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3— Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts — Accounts receivable consist of trade receivables recorded upon recognition of revenue from sales of voice services, reduced by reserves for estimated bad debts. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Credit is extended based on evaluation of the customer’s financial condition. We make judgments as to our ability to collect outstanding receivables and provide allowances for a portion of receivables when collection becomes doubtful. The specific identification method is applied to all significant outstanding invoices to determine this provision. Our allowance for doubtful accounts was $2.5 million and $2.3 million at September 30, 2015 and December 31, 2014, respectively.
Property and Equipment	Property and Equipment — Property and equipment is recorded at cost. These values are depreciated over the estimated useful lives of the individual assets using the straight-line method. Any gains and losses from the disposition of property and equipment are included in operations as incurred. The estimated useful life for network equipment and tools and test equipment is five years. The estimated useful life for computer equipment, computer software and furniture and fixtures is three years. Leasehold improvements are amortized on a straight-line basis over an estimated useful life of five years or the life of the lease, whichever is less. As discussed below, the impairment of long-lived assets is periodically evaluated when events or changes in circumstances indicate that a potential impairment has occurred.
Long-lived Assets	Long-lived Assets — The carrying value of long-lived assets, including property and equipment, are reviewed whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Impairment of assets with definite lives is generally determined by comparing projected undiscounted cash flows to be generated by the asset, or appropriate grouping of assets, to its carrying value. If an impairment is identified, a loss is recorded equal to the excess of the asset’s net book value over its fair value. The fair value becomes the new cost basis of the asset. Determining the extent of an impairment, if any, typically requires various estimates and assumptions including using management’s judgment, cash flows directly attributable to the asset, the useful life of the asset and residual value, if any. In addition, the remaining useful life of the impaired asset is revised, if necessary. There were no property and equipment or intangible asset impairment charges in 2014 or during the three months and nine months ended September 30, 2015
Revenue Recognition	Revenue Recognition — The Company generates revenue from sales of its voice services. The Company maintains tariffs and executed service agreements with each of its customers in which specific fees and rates are determined. One customer agreement contains multiple voice service elements and is accounted for as a multiple-element arrangement under Accounting Standards Codification (“ASC”) topic 605-25 Revenue Recognition- Multiple Element Arrangements. Following the requirements of ASC 605-25, the Company evaluated the multiple-element arrangement to determine which deliverables represented separate units of accounting and then allocated consideration to each unit of accounting based on their selling prices using relative fair values. Some of these deliverables are treated as non-monetary transactions which are also recorded at fair value. Voice revenue is recorded each month on an accrual basis, when collection is probable, based upon minutes of traffic switched by the Company’s network by each customer, which is referred to as minutes of use. Certain customer agreements contain multiple elements that are treated as non-monetary transactions which the Company records at fair value.
Earnings Per Share	Earnings per Share — Basic earnings per share is computed based on the weighted average number of common shares and participating securities outstanding. Diluted earnings per share is computed based on the weighted average number of common shares and participating securities outstanding adjusted by the number of additional shares that would have been outstanding during the period had the potentially dilutive securities been issued. The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share of common stock based upon the two-class method: Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2015 2014 2015 2014 Numerator: Net income $ 8,267 $ 9,776 $ 29,449 $ 28,417 Denominator: Weighted average common shares outstanding 33,620 33,115 33,562 32,743 Effect of dilutive securities: Stock options and performance stock units 518 228 495 290 Denominator for diluted earnings per share 34,138 33,343 34,057 33,033 Earnings per share - net income Basic - as reported $ 0.25 $ 0.30 $ 0.88 $ 0.87 Diluted - as reported $ 0.24 $ 0.29 $ 0.86 $ 0.86 Certain awards were not included in the computation of diluted earnings per share because the effect would have been antidilutive. Outstanding share-based awards of 0.7 million for both the three and nine months ended September 30, 2015 were considered antidilutive. Outstanding share-based awards of 1.5 million for both the three and nine months ended September 30, 2014 were considered antidilutive. The undistributed earnings allocable to participating securities were less than $0.1 million and $0.2 million for both the three months and nine months ended September 30, 2015, respectively.
Accounting for Share-Based Payments	Accounting for Stock-Based Compensation — The Company records stock-based compensation expense related to stock options, non-vested shares and performance stock units based on fair value. The amount of non-cash share-based expense recorded in the three months ended September 30, 2015 and 2014 was $1.3 million and $1.2 million, respectively. The amount of non-cash share-based expense recorded in the nine months ended September 30, 2015 and 2014 was $4.0 million and $3.3 million, respectively. Refer to Note 5, “Stock Options, Non-Vested Shares and Performance Stock Units.” The fair value of stock options is determined using the Black-Scholes valuation model. This model takes into account the exercise price of the stock option, the fair value of the common stock underlying the stock option as measured on the date of grant and an estimation of the volatility of the common stock underlying the stock option. Such value is recognized as expense over the service period, net of estimated forfeitures, using the straight line method. The fair value of non-vested shares is measured based upon the quoted closing market price for the stock on the date of grant. The compensation cost is recognized on a straight-line basis over the vesting period. The fair value of each performance stock unit granted is estimated using a Monte Carlo pricing model. The Monte Carlo simulation model is based on a discounted cash flow approach, with the simulation of a large number of possible stock price outcomes for the Company’s stock and the applicable index. termination of an individual’s service prior to fulfilling the requisite service period will result in forfeiture of units and compensation cost will be reversed. The estimation of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from the Company’s current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised. The Company considers many factors when estimating expected forfeitures, including types of awards, employee class and historical experience. Actual results, and future changes in estimates, may differ from the Company’s current estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements — In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers , which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The ASU is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. The ASU is effective for annual reporting periods beginning after December 15, 2017 and early adoption as of December 15, 2016 is permitted. The Company is currently assessing the impact of this standard on the Company’s condensed consolidated financial statements or disclosures . In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Cost, which debt issuance costs related to a recognized debt liability, be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. This ASU requires retrospective application and represents a change in accounting principle. This ASU is effective for fiscal years beginning after December 15, 2015, and early adoption is permitted for financial statements that have not been previously issued. The Company has assessed the impact of this standard and does not believe that it will have a material impact on the Company’s condensed consolidated financial statements or disclosures. In June 2015, the FASB issued ASU No. 2015-10, Technical Corrections and Improvements, and interim periods within those fiscal years, early adoption is permitted. condensed consolidated financial statements or disclosures

SUMMARY OF SIGNIFICANT ACCOUN15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Earnings Per Share	The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share of common stock based upon the two-class method: Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2015 2014 2015 2014 Numerator: Net income $ 8,267 $ 9,776 $ 29,449 $ 28,417 Denominator: Weighted average common shares outstanding 33,620 33,115 33,562 32,743 Effect of dilutive securities: Stock options and performance stock units 518 228 495 290 Denominator for diluted earnings per share 34,138 33,343 34,057 33,033 Earnings per share - net income Basic - as reported $ 0.25 $ 0.30 $ 0.88 $ 0.87 Diluted - as reported $ 0.24 $ 0.29 $ 0.86 $ 0.86

STOCK OPTIONS, NON-VESTED SHA16

STOCK OPTIONS, NON-VESTED SHARES AND PERFORMANCE STOCK UNITS (Tables)	9 Months Ended
	Sep. 30, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Assumptions Used to Estimate Fair Value of Stock Options	The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model. The following table summarizes the assumptions used for estimating the fair value of options for the nine months ended September 30, 2015 and September 30, 2014: September 30, September 30, 2015 2014 Expected life 7.0 years 7.2 years Risk-free interest rate 1.9% 2.1% Expected dividends 3.9% 2.1% Volatility 49.6% 60.0%
Stock Option Activity	A summary of the Company’s stock option activity and related information for the nine months ended September 30, 2015 is as follows: Weighted Aggregate Weighted Average Intrinsic Average Shares Exercise Value Remaining (000) Price ($000) Term (yrs) Options outstanding — January 1, 2015 1,715 $ 12.97 Granted 124 17.02 Exercised (177 ) 4.92 Cancelled (87 ) 5.33 Options outstanding — September 30, 2015 1,575 $ 14.57 $ 12,233 4.43 Vested or expected to vest — September 30, 2015 1,570 $ 14.57 $ 12,184 4.41 Exercisable — September 30, 2015 1,284 $ 15.72 $ 8,493 3.61
Non-Vested Share Activity	A summary of the Company’s non-vested share activity and related information for the nine months ended September 30, 2015 is as follows: Weighted Aggregate Average Intrinsic Shares Grant Date Value (000) Fair Value ($000) Non-vested shares outstanding — January 1, 2015 396 $ 10.87 Granted 168 17.10 Vested (215 ) 12.52 Cancelled (8 ) 3.41 Non-vested shares outstanding — September 30, 2015 341 $ 13.08 $ 7,615 Non-vested shares vested or expected to vest —September 30, 2015 321 $ 13.08 $ 7,168
Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-Vested Share Activity	A summary of the Company’s performance stock unit activity and related information for the nine months ended September 30, 2015 is as follows: Performance Weighted Stock Average Units Grant Date (000) Fair Value Performance stock units outstanding — January 1, 2015 — $ — Granted 119 22.94 Vested — — Cancelled — — Performance stock units outstanding — September 30, 2015 119 $ 22.94

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Company's Financial Assets by Level in Fair Value Hierarchy	The fair value of the Company’s financial asset by level in the fair value hierarchy as of September 30, 2015 and December 31, 2014 was as follows: September 30, 2015 Level 1 Level 2 Level 3 Total Assets: Money Market Funds $ 96,853 $ — $ — $ 96,853 December 31, 2014 Level 1 Level 2 Level 3 Total Assets: Money Market Funds $ 71,836 $ — $ — $ 71,836

Description of the Business - A

Description of the Business - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Loss on the sale of the global data business			$ (1,081)	$ (1,081)
Payment From Escrow Fund		$ 1,290
Tinet global data business
Business Acquisition [Line Items]
Payment From Escrow Fund	$ 1,300

Summary of Significant Accoun19

Summary of Significant Accounting Policies - Additional Information (Detail) shares in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)Investmentshares	Sep. 30, 2014USD ($)shares	Sep. 30, 2015USD ($)Investmentshares	Sep. 30, 2014USD ($)shares	Dec. 31, 2014USD ($)Investment
Summary Of Significant Accounting Policies [Line Items]
Cash in banks	$ 15,200,000		$ 15,200,000		$ 32,900,000
Money market mutual funds	$ 96,900,000		$ 96,900,000		$ 71,800,000
Number of money market mutual fund invested | Investment	4		4		3
Maximum term for investments to be considered cash equivalents days			90
Receivables, allowance	$ 2,526,000		$ 2,526,000		$ 2,336,000
Impairment of property and equipment	0		0		0
Impairment of intangible asset	0		0		$ 0
Share-based expense	1,300,000	$ 1,200,000	4,000,000	$ 3,300,000
Maximum
Summary Of Significant Accounting Policies [Line Items]
Undistributed earnings (loss) allocable to participating securities	$ 100,000		$ 200,000
Share-based awards
Summary Of Significant Accounting Policies [Line Items]
Anti-dilutive securities not included in the computation of diluted earnings per share | shares	0.7	1.5	0.7	1.5
Network Equipment And Tools And Test Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives, years			5 years
Computer equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives, years			3 years
Computer software
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives, years			3 years
Leasehold Improvements
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives, description			Five years or the life of the lease, whichever is less

Earnings Per Share (Detail)

Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accounting Policies [Abstract]
Net income	$ 8,267	$ 9,776	$ 29,449	$ 28,417
Weighted average common shares outstanding	33,620	33,115	33,562	32,743
Stock options and performance stock units	518	228	495	290
Denominator for diluted earnings per share	34,138	33,343	34,057	33,033
Net income per share:
Basic - as reported	$ 0.25	$ 0.30	$ 0.88	$ 0.87
Diluted - as reported	$ 0.24	$ 0.29	$ 0.86	$ 0.86

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Estimated effective income tax rate	34.70%	38.50%	37.00%	39.20%
Statutory federal income tax rate			35.00%
Effective income tax rate excluding discrete adjustment	38.00%		38.00%

Stock Options, Non-Vested Sha22

Stock Options, Non-Vested Shares and Performance Stock Units - Additional Information (Detail)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)Tranche$ / sharesshares	Sep. 30, 2014shares	Sep. 30, 2015USD ($)Tranche$ / sharesshares	Sep. 30, 2014USD ($)$ / sharesshares	Dec. 31, 2014USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted options outstanding | shares	1,575,000		1,575,000		1,715,000
Granted Performance stock units outstanding | shares	0	100,000	168,000	200,000
Non-vested granted shares remaining outstanding | shares	341,000		341,000		396,000
Options granted | shares	0	0	100,000	100,000
Weighted Average Exercise Price, Granted | $ / shares			$ 17.02	$ 13.86
Weighted-average fair value of options granted | $ / shares			$ 6.03	$ 6.90
Total grant date fair value of options vested			$ 600,000	$ 900,000
Total intrinsic value of stock options exercised			$ 2,700,000	$ 3,000,000
Non-vested shares, vesting period, years			4 years
Closing stock price | $ / shares	$ 22.33		$ 22.33
Severance expense			$ 500,000
Accelerated non cash compensation related to the termination of Mr.Evans			$ 100,000
Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Interim employment agreement effective date			Apr. 1, 2015
Termination period of employment			30 days
Interim period annual salary	$ 1,029,600		$ 1,029,600
Annual incentive cash bonus	0		0
Annual salary rate	$ 514,800		$ 514,800
Period for unvested equity awards that would have otherwise vested will be accelerated and immediately vested on after termination date			18 months
Interim employment agreement expiration period			6 months
Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted Performance stock units outstanding | shares	0		119,000
Non-vested granted shares remaining outstanding | shares	119,000		119,000
Weighted average remaining term recorded for options, in years			1 year 9 months 18 days
Percentage of Target Award to be paid			200.00%
Minimum performance threshold forfeited			$ 0
Unrecognized compensation cost	$ 2,000,000		$ 2,000,000
Performance Stock Units | First Tranche
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation, recognition period			18 months
Performance Stock Units | Second Tranche
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation, recognition period			2 years
Performance Stock Units | Third Tranche
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation, recognition period			3 years
Non-Vested Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost	3,300,000		$ 3,300,000		$ 3,300,000
Weighted average remaining term recorded for options, in years			2 years 2 months 12 days		2 years
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining term recorded for options, in years			2 years 10 months 24 days		2 years 1 month 6 days
Unrecognized compensation cost	$ 1,000,000		$ 1,000,000		$ 900,000
2003 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of stock options, non-vested shares and performance stock units | shares	4,700,000		4,700,000
2007 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional outstanding shares available for grant | shares	2,100,000		2,100,000
Shares available for grant as a percentage of the Company's outstanding common stock			6.20%
2007 Plan | Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted Performance stock units outstanding | shares			100,000
Number of tranches | Tranche	3		3

Estimated Fair Value of Options

Estimated Fair Value of Options (Detail)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected life	7 years	7 years 2 months 12 days
Risk-free interest rate	1.90%	2.10%
Expected dividends	3.90%	2.10%
Volatility	49.60%	60.00%

Stock Option Activity (Detail)

Stock Option Activity (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares, Options outstanding beginning	1,715
Shares, Granted	124
Shares, Exercised	(177)
Shares, Cancelled	(87)
Shares, Options outstanding ending	1,575
Shares, Vested or expected to vest	1,570
Shares, Exercisable	1,284
Weighted Average Exercise Price, Options outstanding beginning	$ 12.97
Weighted Average Exercise Price, Granted	17.02	$ 13.86
Weighted Average Exercise Price, Exercised	4.92
Weighted Average Exercise Price, Cancelled	5.33
Weighted Average Exercise Price, Options outstanding ending	14.57
Weighted Average Exercise Price, Vested or expected to vest	14.57
Weighted Average Exercise Price, Exercisable	$ 15.72
Aggregate Intrinsic Value, Options outstanding ending	$ 12,233
Aggregate Intrinsic Value, Vested or expected to vest	12,184
Aggregate Intrinsic Value, Exercisable	$ 8,493
Weighted Average Remaining Term, Options outstanding ending, years	4 years 5 months 5 days
Weighted Average Remaining Term, Vested or expected to vest, years	4 years 4 months 28 days
Weighted Average Remaining Term, Exercisable, years	3 years 7 months 10 days

Non-Vested Share Activity (Deta

Non-Vested Share Activity (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares, Non-vested shares outstanding beginning			396
Shares, Granted	0	100	168	200
Shares, Vested			(215)
Shares, Cancelled			(8)
Shares, Non-vested shares outstanding ending	341		341
Shares, Non-vested shares vested or expected to vest	321		321
Weighted Average Grant Date Fair Value, Non-vested shares outstanding beginning			$ 10.87
Weighted Average Grant Date Fair Value, Granted			17.10
Weighted Average Grant Date Fair Value, Vested			12.52
Weighted Average Grant Date Fair Value, Cancelled			3.41
Weighted Average Grant Date Fair Value, Non-vested shares outstanding ending	$ 13.08		13.08
Weighted Average Grant Date Fair Value, Non-vested shares vested or expected to vest	$ 13.08		$ 13.08
Aggregate Intrinsic Value, Non-vested shares outstanding ending	$ 7,615		$ 7,615
Aggregate Intrinsic Value, Non-vested shares vested or expected to vest	$ 7,168		$ 7,168
Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares, Granted	0		119
Shares, Non-vested shares outstanding ending	119		119
Weighted Average Grant Date Fair Value, Granted			$ 22.94
Weighted Average Grant Date Fair Value, Non-vested shares outstanding ending	$ 22.94		$ 22.94

Fair Value of Company's Financi

Fair Value of Company's Financial Assets by Level in Fair Value Hierarchy (Detail) - Fair Value, Measurements, Recurring - Money Market Funds - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets:
Assets, fair Value	$ 96,853	$ 71,836
Level 1
Assets:
Assets, fair Value	$ 96,853	$ 71,836

Credit Facility - Additional In

Credit Facility - Additional Information (Detail) - Revolving Credit Facility - USD ($)	Mar. 05, 2013	Mar. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Line Of Credit Facility [Line Items]
Credit facility, initiation date		Mar. 5, 2013
Credit facility, maximum borrowing capacity	$ 15,000,000
Credit facility, maturity term	3 years
Revolving credit facility outstanding			$ 0	$ 0
LIBOR
Line Of Credit Facility [Line Items]
Credit facility, interest rate	3.25%

Segment and Geographic Inform28

Segment and Geographic Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015Segment
Segment Reporting [Abstract]
Number of operating segments	1