Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 21, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'DIGIRAD CORP | ' |
Entity Central Index Key | '0000707388 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 18,423,063 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues: | ' | ' | ' | ' |
DIS | $9,489 | $8,856 | $27,903 | $27,522 |
Diagnostic Imaging | 2,924 | 2,961 | 8,946 | 9,975 |
Total revenues | 12,413 | 11,817 | 36,849 | 37,497 |
Cost of revenues: | ' | ' | ' | ' |
DIS | 6,916 | 6,880 | 20,920 | 20,765 |
Diagnostic Imaging | 1,679 | 1,808 | 5,501 | 6,250 |
Total cost of revenues | 8,595 | 8,688 | 26,421 | 27,015 |
Gross profit | 3,818 | 3,129 | 10,428 | 10,482 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 24 | 1,055 | 1,020 | 2,998 |
Marketing and sales | 1,042 | 1,348 | 3,287 | 4,735 |
General and administrative | 1,754 | 1,744 | 6,427 | 5,820 |
Amortization of intangible assets | 55 | 49 | 178 | 184 |
Restructuring charges | 79 | 0 | 1,693 | 0 |
Gain on sale of assets and license agreement | -1,568 | 0 | -1,568 | 0 |
Total operating expenses | 1,386 | 4,196 | 11,037 | 13,737 |
Income (loss) from operations | 2,432 | -1,067 | -609 | -3,255 |
Other income (expense): | ' | ' | ' | ' |
Interest and other income, net | 13 | 28 | 52 | 82 |
Interest expense | -5 | -2 | -10 | -3 |
Total other income | 8 | 26 | 42 | 79 |
Net income (loss) before income taxes | 2,440 | -1,041 | -567 | -3,176 |
Income tax benefit | 72 | 135 | 44 | 111 |
Net income (loss) | 2,512 | -906 | -523 | -3,065 |
Net income (loss) per share - basic (in dollars per share) | $0.14 | ($0.05) | ($0.03) | ($0.16) |
Net income (loss) per share - diluted (in dollars per share | $0.14 | ($0.05) | ($0.03) | ($0.16) |
Weighted average shares outstanding – basic | 18,328 | 19,263 | 18,890 | 19,273 |
Weighted average shares outstanding – diluted | 18,580 | 19,263 | 18,890 | 19,273 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized gain (loss) on marketable securities | 23 | 32 | -35 | 26 |
Total other comprehensive income (loss) | 23 | 32 | -35 | 26 |
Comprehensive income (loss) | $2,535 | ($874) | ($558) | ($3,039) |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $17,638 | $19,514 |
Securities available-for-sale | 8,301 | 7,679 |
Accounts receivable, net | 6,077 | 6,329 |
Inventories, net | 4,413 | 4,979 |
Other current assets | 519 | 642 |
Restricted cash | 244 | 244 |
Total current assets | 37,192 | 39,387 |
Property and equipment, net | 4,111 | 4,693 |
Intangible assets, net | 406 | 584 |
Goodwill | 184 | 184 |
Other assets | 90 | 61 |
Total assets | 41,983 | 44,909 |
Liabilities and stockholders' equity | ' | ' |
Accounts payable | 1,720 | 1,546 |
Accrued compensation | 3,454 | 2,364 |
Accrued warranty | 133 | 326 |
Deferred revenue | 1,494 | 1,849 |
Other accrued liabilities | 1,608 | 2,199 |
Total current liabilities | 8,409 | 8,284 |
Other liabilities | 264 | 176 |
Total liabilities | 8,673 | 8,460 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.0001 par value: 10,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
Common stock, $0.0001 par value: 80,000,000 shares authorized; 18,418,896 and 19,144,448 shares issued and outstanding (net of treasury shares) at September 30, 2013 and December 31, 2012, respectively | 2 | 2 |
Treasury stock, at cost; 2,558,484 and 1,073,641 shares at September 30, 2013 and December 31, 2012, respectively | -5,728 | -2,086 |
Additional paid-in capital | 157,695 | 156,634 |
Accumulated other comprehensive income (loss) | -18 | 17 |
Accumulated deficit | -118,641 | -118,118 |
Total stockholders' equity | 33,310 | 36,449 |
Total liabilities and stockholders' equity | $41,983 | $44,909 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, shares issued | 18,418,896 | 19,144,448 |
Common stock, shares outstanding | 18,418,896 | 19,144,448 |
Treasury stock, shares | 2,558,484 | 1,073,641 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities | ' | ' |
Net loss | ($523) | ($3,065) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation | 1,269 | 1,466 |
Amortization of intangible assets | 178 | 184 |
Provision for bad debt | -60 | -17 |
Stock-based compensation | 300 | 471 |
Gain on dsale of assets and license agreement | -1,623 | -48 |
Amortization of premium on investments | 148 | 103 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 313 | -527 |
Inventories | 694 | -777 |
Other assets | 94 | 133 |
Accounts payable | 167 | 576 |
Accrued compensation | 1,090 | 445 |
Deferred revenue | -355 | -351 |
Other liabilities | -873 | -167 |
Restricted cash | 0 | 50 |
Net cash provided by (used in) operating activities | 819 | -1,624 |
Investing activities | ' | ' |
Purchases of property and equipment | -617 | -880 |
Proceeds from sale of assets and license agreement | 1,676 | 63 |
Purchases of securities available-for-sale | -4,679 | -4,887 |
Sales and maturities of securities available for sale | 3,874 | 2,365 |
Net cash provided by (used in) investing activities | 254 | -3,339 |
Financing activities | ' | ' |
Issuances of common stock | 760 | 296 |
Repurchases of common stock | -3,640 | -1,029 |
Repayment of obligations under capital leases | 69 | 0 |
Net cash used in financing activities | -2,949 | -733 |
Net decrease in cash and cash equivalents | -1,876 | -5,696 |
Cash and cash equivalents at beginning of period | 19,514 | 24,039 |
Cash and cash equivalents at end of period | $17,638 | $18,343 |
The_Company
The Company | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
The Company | ' |
The Company | |
Digirad Corporation (“Digirad”), a Delaware corporation, is one of the largest national providers of in-office nuclear cardiology imaging and ultrasound services to physician practices, hospitals and imaging centers through our Digirad Imaging Solutions (“DIS”) segment. Through DIS, we provide in-office imaging services to physicians, offering certified personnel, required licensure, an imaging system and other support and supplies for the performance of nuclear and ultrasound imaging procedures under the supervision of our physician customers. DIS' physician customers enter into service contracts for imaging services generally delivered on a per-day basis. We also sell medical diagnostic imaging systems including solid-state gamma cameras for nuclear cardiology and general nuclear medicine applications, as well as provide service on the products we sell through our Diagnostic Imaging segment. These two reportable segments, DIS and Diagnostic Imaging, are collectively referred to herein as the “Company.” | |
The accompanying condensed consolidated financial statements include the operations of both segments. Intercompany accounts and transactions are accounted for at cost and have been eliminated in consolidation. All our long-lived assets are located in the United States and substantially all of our revenues arise from sales activity in the United States. | |
Basis of Presentation | |
The unaudited condensed consolidated financial statements included in this Form 10-Q have been prepared in accordance with the U.S. Securities and Exchange Commission (“SEC”) instructions for Quarterly Reports on Form 10-Q. Accordingly, the condensed consolidated financial statements are unaudited and do not contain all the information required by U.S. generally accepted accounting principles (“GAAP”) to be included in a full set of financial statements. The unaudited condensed consolidated balance sheet at December 31, 2012 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for a complete set of financial statements. The audited consolidated financial statements for our fiscal year ended December 31, 2012, filed with the SEC on Form 10-K on March 13, 2013 include a summary of our significant accounting policies and should be read in conjunction with this Form 10-Q. In the opinion of management, all material adjustments necessary to present fairly the results of operations, cash flows and balance sheets for such periods have been included in this Form 10-Q. All such adjustments are of a normal recurring nature. In addition certain reclassifications have been made to the prior period financial statements to conform to the current period presentation. The results of operations for interim periods are not necessarily indicative of the results of operations for the entire year. |
Basic_And_Diluted_Net_Loss_Per
Basic And Diluted Net Loss Per Share | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Earnings Per Share, Basic and Diluted [Abstract] | ' | |||||||||||
Basic and Diluted Net Income (Loss) Per Share | ' | |||||||||||
Basic and Diluted Net Income (Loss) Per Share | ||||||||||||
For the three and nine months ended September 30, 2013 and 2012, basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares and vested restricted stock units outstanding during the period. Diluted net income (loss) per common share is calculated to give effect of all dilutive securities, if applicable, using the treasury stock method. | ||||||||||||
The following table sets forth the reconciliation of shares used to compute basic and diluted net income (loss) per share for the periods indicated: | ||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
(shares in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||
Weighted average shares outstanding - basic | 18,328 | 19,263 | 18,890 | 19,273 | ||||||||
Dilutive potential common stock outstanding: | ||||||||||||
Stock options | 250 | — | — | — | ||||||||
Restricted stock units | 2 | — | — | — | ||||||||
Weighted average shares outstanding - diluted | 18,580 | 19,263 | 18,890 | 19,273 | ||||||||
The following weighted average outstanding common stock equivalents were not included in the calculation of diluted net loss per share because their effect was anti-dilutive: | ||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
(shares in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||
Stock options | — | 331 | 338 | 412 | ||||||||
Restricted stock units | — | 22 | 12 | 24 | ||||||||
Total | — | 353 | 350 | 436 | ||||||||
Inventories
Inventories | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventories | ' | |||||||
Inventories | ||||||||
Our inventories are stated at the lower of cost (first-in, first-out) or market (net realizable value) and we review inventory balances for excess and obsolete inventory levels on a quarterly basis. | ||||||||
(in thousands) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Raw materials | $ | 2,653 | $ | 2,522 | ||||
Work-in-process | 3,463 | 3,161 | ||||||
Finished goods | 1,178 | 1,861 | ||||||
7,294 | 7,544 | |||||||
Less reserve for excess and obsolete inventories | (2,881 | ) | (2,565 | ) | ||||
Inventories, net | $ | 4,413 | $ | 4,979 | ||||
Property_and_Equipment_Notes
Property and Equipment (Notes) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property and Equipment [Abstract] | ' | |||||||
Property and Equipment | ' | |||||||
Property and Equipment | ||||||||
(in thousands) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Machinery and equipment | $ | 22,209 | $ | 22,302 | ||||
Computer hardware and software | 2,508 | 2,827 | ||||||
Leasehold improvements | 871 | 865 | ||||||
25,588 | 25,994 | |||||||
Accumulated depreciation | (21,477 | ) | (21,301 | ) | ||||
Property and equipment, net | $ | 4,111 | $ | 4,693 | ||||
Restructuring_Charges
Restructuring Charges | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring Charges | ' | ||||||||||||||||
Restructuring Charges | |||||||||||||||||
On February 28, 2013, we announced a plan to restructure our Diagnostic Imaging business to significantly reduce costs and focus on maximizing cash flow from our DIS service business (the "Diagnostic Imaging restructuring initiative"). The Diagnostic Imaging restructuring initiative includes a reduction in force. In addition, as part of the Diagnostic Imaging restructuring initiative, we entered into an agreement in September 2013 with a third party to outsource the majority of the manufacturing associated with our cameras. As a result of this Diagnostic Imaging restructuring initiative, we estimate that we will incur in total approximately $1.7 million to $1.9 million in restructuring charges, the majority of which will be incurred during fiscal year 2013. Included in this estimated range is approximately $1.6 million of employee related costs, while the remaining costs include contract termination costs and other related costs. As currently planned, substantially all restructuring efforts associated with this initiative are expected to be complete by December 31, 2013. Through September 30, 2013, we have expensed approximately $1.7 million of charges associated with the Diagnostic Imaging restructuring initiative, including approximately $1.5 million of employee related costs. Restructuring liabilities and associated charges are measured at fair value as incurred. Restructuring charges do not include charges associated with excess inventory, any excess capacity, or personnel wages and benefits before personnel leave the Company. | |||||||||||||||||
The following table includes information regarding our current Diagnostic Imaging restructuring initiative: | |||||||||||||||||
(in thousands) | Accrued at December 31, 2012 | Accrued Costs | Cash Payments and Other Reductions | Accrued at September 30, 2013 | |||||||||||||
Total Diagnostic Imaging restructuring initiative | $ | — | $ | 1,693 | $ | 1,122 | $ | 571 | |||||||||
All accrued restructuring charges at September 30, 2013 are included in the accrued compensation line item in the unaudited condensed consolidated balance sheets. All the restructuring charges for the three and nine months ended September 30, 2013 are included in the Diagnostic Imaging segment. |
Financial_Instruments
Financial Instruments | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||
Financial Instruments | ' | |||||||||||||||||
Financial Instruments | ||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis. The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques we utilize to determine such fair value at September 30, 2013 and December 31, 2012. | ||||||||||||||||||
Fair Value as of September 30, 2013 | ||||||||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | ||||||||||||||||||
Corporate debt securities | $ | — | $ | 8,301 | $ | — | $ | 8,301 | ||||||||||
Fair Value as of December 31, 2012 | ||||||||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | ||||||||||||||||||
Corporate debt securities | $ | — | $ | 7,679 | $ | — | $ | 7,679 | ||||||||||
The fair value of our corporate debt securities is determined using proprietary valuation models and analytical tools. These valuation models and analytical tools use market pricing or prices for similar instruments that are both objective and publicly available, including matrix pricing or reported trades, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids and/or offers. We did not reclassify any investments between levels in the fair value hierarchy during the nine months ended September 30, 2013. | ||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||
Securities available-for-sale primarily consist of investment grade corporate debt securities. We classify all securities as available-for-sale and as current assets, as the sale of such securities may be required prior to maturity to execute management strategies. These securities are carried at fair value, with the unrealized gains and losses reported as a component of accumulated other comprehensive income (loss) in stockholders' equity until realized. Realized gains and losses from the sale of available-for-sale securities, if any, are determined on a specific identification basis. A decline in the market value of any available-for-sale security below cost that is determined to be other than temporary will result in an impairment charge to earnings and a new cost basis for the security is established. No such impairment charges were recorded for any period presented. It is not more likely than not that we will be required to sell investments before recovery of their amortized costs. Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to yield using the straight-line method and included in interest income. Interest income is recognized when earned. Realized gains and losses on investments in securities are included in other income (expense) within the condensed consolidated statements of comprehensive income (loss). The realized gains and losses on these sales were minimal for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||
The following table sets forth the composition of securities available-for-sale as of September 30, 2013 and December 31, 2012. | ||||||||||||||||||
Maturity in | Amortized Cost | Unrealized | Fair Value | |||||||||||||||
As of September 30, 2013 (in thousands) | Years | Gains | Losses | |||||||||||||||
Corporate debt securities | 3 or less | $ | 8,319 | $ | 8 | $ | (26 | ) | $ | 8,301 | ||||||||
Maturity in | Amortized Cost | Unrealized | Fair Value | |||||||||||||||
As of December 31, 2012 (in thousands) | Years | Gains | Losses | |||||||||||||||
Corporate debt securities | 3 or less | $ | 7,662 | $ | 17 | $ | — | $ | 7,679 | |||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
Radiopharmaceutical litigation. In April 2013, we settled a contractual dispute with our former radiopharmaceutical supplier who alleged that we, along with another radiopharmaceutical supplier, collaborated and breached our supply commitment contract. In summary, the settlement releases all parties from all claims associated with the dispute and the Company paid $385,000 which was recorded in other accrued liabilities as of December 31, 2012. The associated expense was recognized in the consolidated statement of comprehensive income (loss) for the year ended December 31, 2012. | |
Annual Meeting Litigation. In May 2013, we were served with a complaint in Delaware Chancery Court by one of our larger shareholders, the Red Oak Fund, L.P. ("Red Oak"). In summary, the complaint alleged that the Annual Meeting of Shareholders election process (the "Election") was improperly conducted. Red Oak sought to have the results of the Election voided and to compel Digirad to conduct a new Annual Meeting process. On October 23, 2013, the Delaware Chancery Court issued a memorandum opinion in favor of the Company which upheld the Election as valid. | |
Other matters. In the normal course of business, we have been, and will likely continue to be, subject to litigation or administrative proceedings incidental to our business, such as claims related to customer disputes, employment practices, wage and hour disputes, product liability, professional liability, commercial disputes, licensure restrictions or denials, and warranty or patent infringement. Responding to litigation or administrative proceedings, regardless of whether they have merit, can be expensive and disruptive to normal business operations. We are not able to predict the timing or outcome of these matters. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
As of December 31, 2012, we had unrecognized tax benefits of approximately $1.5 million. Included in the unrecognized tax benefits were $1.2 million of tax benefits that, if recognized, would reduce our annual effective tax rate, subject to the valuation allowance. We do not expect our unrecognized tax benefits to change significantly over the next 12 months. | |
We file income tax returns in the U.S. and in various state jurisdictions with varying statutes of limitations. We are no longer subject to income tax examination by tax authorities for years prior to 2008; however, our net operating loss and research credit carry-forwards arising prior to that year are subject to adjustment. It is our policy to recognize interest expense and penalties related to income tax matters as a component of income tax expense. |
Stock_Repurchase_Program
Stock Repurchase Program | 9 Months Ended |
Sep. 30, 2013 | |
Note 10. Stock Repurchase Program [Abstract] | ' |
Stock Repurchase Program | ' |
Stock Repurchase Program | |
On February 27, 2013, our board of directors modified our stock buyback program originally adopted in February 2009 to increase repurchases to an aggregate of $7.0 million, and subsequently, on March 13, 2013, increased the stock buyback program again for repurchases of up to an aggregate of $12.0 million. During the three and nine months ended September 30, 2013, we repurchased 254,084 and 1,514,843 respectively, of shares of our common stock under the buyback program. Cumulatively through September 30, 2013, we have repurchased 2,588,484 shares of common stock at a cost of $5.7 million. |
Segments
Segments | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segments | ' | |||||||||||||||
Segments | ||||||||||||||||
Our reporting segments have been determined based on the nature of the products and/or services offered to customers or the nature of their function in the organization. We evaluate performance based on the operating income (loss) contributed by each segment. | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Gross profit by segment: | ||||||||||||||||
DIS | $ | 2,573 | $ | 1,976 | $ | 6,983 | $ | 6,757 | ||||||||
Diagnostic Imaging | 1,245 | 1,153 | 3,445 | 3,725 | ||||||||||||
Condensed consolidated gross profit | $ | 3,818 | $ | 3,129 | $ | 10,428 | $ | 10,482 | ||||||||
Income (loss) from operations by segment: | ||||||||||||||||
DIS | $ | 396 | $ | 12 | $ | (192 | ) | $ | 227 | |||||||
Diagnostic Imaging (1) | 2,036 | (1,079 | ) | (417 | ) | (3,482 | ) | |||||||||
Condensed consolidated income (loss) from operations | $ | 2,432 | $ | (1,067 | ) | $ | (609 | ) | $ | (3,255 | ) | |||||
Depreciation and amortization: | ||||||||||||||||
DIS | $ | 348 | $ | 440 | $ | 1,095 | $ | 1,414 | ||||||||
Diagnostic Imaging | 127 | 84 | 352 | 236 | ||||||||||||
Condensed consolidated depreciation and amortization | $ | 475 | $ | 524 | $ | 1,447 | $ | 1,650 | ||||||||
(in thousands) | As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||
Identifiable assets by segment: | ||||||||||||||||
DIS | $ | 11,620 | $ | 9,105 | ||||||||||||
Diagnostic Imaging | 30,363 | 35,804 | ||||||||||||||
Condensed Consolidated assets | $ | 41,983 | $ | 44,909 | ||||||||||||
(1) Included in the Diagnostic Imaging loss from operations for the three and nine months ended September 30, 2013, are approximately $0.1 million and $1.7 million of charges, respectively, associated with our Diagnostic Imaging restructuring initiative (See Note 5), as well as a gain of approximately $1.6 million associated with the sale of assets and licensing agreement from an uncommercialized surgical imaging system previously in development (See Note 12). |
Preferred_Stock_Rights_Notes
Preferred Stock Rights (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Preferred Stock Rights | ' |
Preferred Stock Rights | |
On May 23, 2013, the Company's Board of Directors adopted a tax benefit preservation plan in the form of a Section 382 Rights Agreement (the “382 Agreement”). The 382 Agreement is intended to diminish the risk that our ability to use our net operating loss carryforwards to reduce future federal income tax obligations may become substantially limited due to an “ownership change,” as defined in Section 382 of the Internal Revenue Code. The Board authorized and declared a dividend distribution of one right for each outstanding share of common stock, par value $0.0001 per share, of the Company to stockholders of record as of the close of business on June 4, 2013. Each right entitles the registered holder to purchase from the Company one one-thousandth of a share of Series B Participating Preferred Stock, par value $0.0001 per share, of the Company at an exercise price of $20.00 per one one-thousandth of a Preferred Share, subject to adjustment. | |
The rights will become exercisable following (i) the 10th business day (or such later date as may be determined by the Board of Directors) after the public announcement that an acquiring person has acquired beneficial ownership of 4.99% or more of the common shares of the Company or (ii) the 10th business day (or such later date as may be determined by the Board of Directors) after a person or group announces a tender or exchange offer that would result in ownership by a person or group of 4.99% or more of the common shares of the Company. | |
In addition, upon the occurrence of certain events, the exercise price of the rights would be adjusted and holders of the rights (other than rights owned by an acquiring person or group) would be entitled to purchase common stock at approximately half of market value. Given the potential adjustment of the exercise price of the rights, the rights could cause substantial dilution to a person or group that acquires 4.99% or more of the Company's common stock on terms not approved by the Company's Board of Directors. | |
No rights were exercisable at September 30, 2013. There is no impact to the Company's financial results as a result of the adoption of the rights plan for the nine month period ended September 30, 2013. |
Sale_of_Assets_Notes
Sale of Assets (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] | ' |
Surgical Imaging Asset Sale and License Agreement | ' |
On July 31, 2013, we entered into an asset purchase agreement with Novadaq Technologies Inc. (“Novadaq”). Under the terms of the asset purchase agreement, we sold Novadaq all of our assets specifically related to an uncommercialized surgical imaging system previously in development. We also licensed certain existing Company technology to Novadaq for their use in the peri-operative field. In exchange, we received upfront consideration of $2.0 million, and could receive up to $1.0 million in deferred contingent payments based on the achievement of specific regulatory and commercial milestones. In addition a royalty on sales, if any, will be paid for a period of five years from the date of the first commercial sale of the related surgical imaging system. | |
We identified the deliverables at the inception of the agreements and determined that the tangible assets, consisting of inventory parts, and intangible assets, consisting of the technology license and various patents and know-how, individually represent separate units of accounting because each deliverable has standalone value. The best estimated selling prices for these units of accounting were determined using the income method for the intangible assets, and a cost plus a reasonable margin basis for the tangible assets. The arrangement consideration was allocated to the deliverables based on the relative selling price method. | |
The amount of allocable arrangement consideration is limited to the amount that is not contingent upon meeting other specified performance conditions (the non-contingent amount); therefore, the amount allocated to the deliverables at September 30, 2013, was limited to the upfront cash received of $2.0 million. Since performance and delivery occurred on both deliverables during the three months ended September 30, 2013, a gain of $1.6 million representing the $2.0 million of upfront consideration less legal, consulting and other transaction fees as well as the cost basis of the inventory was recorded in the three months ended September 30, 2013. | |
We expect to recognize the regulatory and commercial milestone payments as a gain if and when the milestones are achieved. We expect to recognize the sales royalty payments as a gain if and when the royalties are earned. |
Subsequent_Event_Notes
Subsequent Event (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
Subsequent Events | |
On October 23, 2013, the Delaware Chancery Court issued a memorandum opinion in favor of the Company which upheld the 2013 Annual Meeting of Shareholders election as valid. In May 2013, we had been served with a complaint in Delaware Chancery Court by one of our larger shareholders, the Red Oak Fund, L.P. ("Red Oak"), alleging that the 2013 Annual Meeting of Shareholders election process was improperly conducted. See Note 7 to the unaudited Condensed Consolidated Financial Statements for further information. | |
On November 1, 2013, the Company’s Board of Directors declared a cash dividend of $0.05 per share payable on November 22, 2013 to shareholders of record on November 12, 2013. |
Financial_Instruments_policies
Financial Instruments (policies) | 9 Months Ended |
Sep. 30, 2013 | |
Fair Value Disclosures [Abstract] | ' |
Fair Value of Financial Instruments, Policy | ' |
The fair value of our corporate debt securities is determined using proprietary valuation models and analytical tools. These valuation models and analytical tools use market pricing or prices for similar instruments that are both objective and publicly available, including matrix pricing or reported trades, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids and/or offers. | |
Securities Available-for-sale, Policy | ' |
Securities Available for Sale | |
Securities available-for-sale primarily consist of investment grade corporate debt securities. We classify all securities as available-for-sale and as current assets, as the sale of such securities may be required prior to maturity to execute management strategies. These securities are carried at fair value, with the unrealized gains and losses reported as a component of accumulated other comprehensive income (loss) in stockholders' equity until realized. Realized gains and losses from the sale of available-for-sale securities, if any, are determined on a specific identification basis. A decline in the market value of any available-for-sale security below cost that is determined to be other than temporary will result in an impairment charge to earnings and a new cost basis for the security is established. No such impairment charges were recorded for any period presented. It is not more likely than not that we will be required to sell investments before recovery of their amortized costs. Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to yield using the straight-line method and included in interest income. Interest income is recognized when earned. Realized gains and losses on investments in securities are included in other income (expense) within the condensed consolidated statements of comprehensive income (loss). |
Schedule_of_Earnings_Per_Share
Schedule of Earnings Per Share, Basic and Diluted (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Earnings Per Share, Basic and Diluted [Abstract] | ' | |||||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | |||||||||||
The following table sets forth the reconciliation of shares used to compute basic and diluted net income (loss) per share for the periods indicated: | ||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
(shares in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||
Weighted average shares outstanding - basic | 18,328 | 19,263 | 18,890 | 19,273 | ||||||||
Dilutive potential common stock outstanding: | ||||||||||||
Stock options | 250 | — | — | — | ||||||||
Restricted stock units | 2 | — | — | — | ||||||||
Weighted average shares outstanding - diluted | 18,580 | 19,263 | 18,890 | 19,273 | ||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | |||||||||||
The following weighted average outstanding common stock equivalents were not included in the calculation of diluted net loss per share because their effect was anti-dilutive: | ||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
(shares in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||
Stock options | — | 331 | 338 | 412 | ||||||||
Restricted stock units | — | 22 | 12 | 24 | ||||||||
Total | — | 353 | 350 | 436 | ||||||||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of Inventory | ' | |||||||
Our inventories are stated at the lower of cost (first-in, first-out) or market (net realizable value) and we review inventory balances for excess and obsolete inventory levels on a quarterly basis. | ||||||||
(in thousands) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Raw materials | $ | 2,653 | $ | 2,522 | ||||
Work-in-process | 3,463 | 3,161 | ||||||
Finished goods | 1,178 | 1,861 | ||||||
7,294 | 7,544 | |||||||
Less reserve for excess and obsolete inventories | (2,881 | ) | (2,565 | ) | ||||
Inventories, net | $ | 4,413 | $ | 4,979 | ||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property and Equipment [Abstract] | ' | |||||||
Property and Equipment | ' | |||||||
Property and Equipment | ||||||||
(in thousands) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Machinery and equipment | $ | 22,209 | $ | 22,302 | ||||
Computer hardware and software | 2,508 | 2,827 | ||||||
Leasehold improvements | 871 | 865 | ||||||
25,588 | 25,994 | |||||||
Accumulated depreciation | (21,477 | ) | (21,301 | ) | ||||
Property and equipment, net | $ | 4,111 | $ | 4,693 | ||||
Restructuring_Charges_Tables
Restructuring Charges (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Schedule of Restructuring and Related Costs | ' | ||||||||||||||||
The following table includes information regarding our current Diagnostic Imaging restructuring initiative: | |||||||||||||||||
(in thousands) | Accrued at December 31, 2012 | Accrued Costs | Cash Payments and Other Reductions | Accrued at September 30, 2013 | |||||||||||||
Total Diagnostic Imaging restructuring initiative | $ | — | $ | 1,693 | $ | 1,122 | $ | 571 | |||||||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | ' | |||||||||||||||||
The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques we utilize to determine such fair value at September 30, 2013 and December 31, 2012. | ||||||||||||||||||
Fair Value as of September 30, 2013 | ||||||||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | ||||||||||||||||||
Corporate debt securities | $ | — | $ | 8,301 | $ | — | $ | 8,301 | ||||||||||
Fair Value as of December 31, 2012 | ||||||||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | ||||||||||||||||||
Corporate debt securities | $ | — | $ | 7,679 | $ | — | $ | 7,679 | ||||||||||
Available-for-sale Securities | ' | |||||||||||||||||
The following table sets forth the composition of securities available-for-sale as of September 30, 2013 and December 31, 2012. | ||||||||||||||||||
Maturity in | Amortized Cost | Unrealized | Fair Value | |||||||||||||||
As of September 30, 2013 (in thousands) | Years | Gains | Losses | |||||||||||||||
Corporate debt securities | 3 or less | $ | 8,319 | $ | 8 | $ | (26 | ) | $ | 8,301 | ||||||||
Maturity in | Amortized Cost | Unrealized | Fair Value | |||||||||||||||
As of December 31, 2012 (in thousands) | Years | Gains | Losses | |||||||||||||||
Corporate debt securities | 3 or less | $ | 7,662 | $ | 17 | $ | — | $ | 7,679 | |||||||||
Segments_Tables
Segments (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | |||||||||||||||
Our reporting segments have been determined based on the nature of the products and/or services offered to customers or the nature of their function in the organization. We evaluate performance based on the operating income (loss) contributed by each segment. | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Gross profit by segment: | ||||||||||||||||
DIS | $ | 2,573 | $ | 1,976 | $ | 6,983 | $ | 6,757 | ||||||||
Diagnostic Imaging | 1,245 | 1,153 | 3,445 | 3,725 | ||||||||||||
Condensed consolidated gross profit | $ | 3,818 | $ | 3,129 | $ | 10,428 | $ | 10,482 | ||||||||
Income (loss) from operations by segment: | ||||||||||||||||
DIS | $ | 396 | $ | 12 | $ | (192 | ) | $ | 227 | |||||||
Diagnostic Imaging (1) | 2,036 | (1,079 | ) | (417 | ) | (3,482 | ) | |||||||||
Condensed consolidated income (loss) from operations | $ | 2,432 | $ | (1,067 | ) | $ | (609 | ) | $ | (3,255 | ) | |||||
Depreciation and amortization: | ||||||||||||||||
DIS | $ | 348 | $ | 440 | $ | 1,095 | $ | 1,414 | ||||||||
Diagnostic Imaging | 127 | 84 | 352 | 236 | ||||||||||||
Condensed consolidated depreciation and amortization | $ | 475 | $ | 524 | $ | 1,447 | $ | 1,650 | ||||||||
Reconciliation of Assets from Segment to Consolidated | ' | |||||||||||||||
(in thousands) | As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||
Identifiable assets by segment: | ||||||||||||||||
DIS | $ | 11,620 | $ | 9,105 | ||||||||||||
Diagnostic Imaging | 30,363 | 35,804 | ||||||||||||||
Condensed Consolidated assets | $ | 41,983 | $ | 44,909 | ||||||||||||
(1) Included in the Diagnostic Imaging loss from operations for the three and nine months ended September 30, 2013, are approximately $0.1 million and $1.7 million of charges, respectively, associated with our Diagnostic Imaging restructuring initiative (See Note 5), as well as a gain of approximately $1.6 million associated with the sale of assets and licensing agreement from an uncommercialized surgical imaging system previously in development (See Note 12). |
The_Company_Details
The Company (Details) | 9 Months Ended |
Sep. 30, 2013 | |
segment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Number of reportable segments | 2 |
Basic_and_Diluted_Net_Income_p
Basic and Diluted Net Income per Share (Details) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share, Basic and Diluted [Abstract] | ' | ' | ' | ' |
Weighted average shares outstanding b basic | 18,328 | 19,263 | 18,890 | 19,273 |
Dilutive potential common stock outstanding: | ' | ' | ' | ' |
Stock options | 250 | 0 | 0 | 0 |
Restricted stock units | 2 | 0 | 0 | 0 |
Weighted average shares outstanding b diluted | 18,580 | 19,263 | 18,890 | 19,273 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 353 | 350 | 436 |
Stock Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 331 | 338 | 412 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 22 | 12 | 24 |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $2,653 | $2,522 |
Work-in-process | 3,463 | 3,161 |
Finished goods | 1,178 | 1,861 |
Inventory, gross | 7,294 | 7,544 |
Less reserve for excess and obsolete inventories | -2,881 | -2,565 |
Inventories, net | $4,413 | $4,979 |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, and equipment, gross | $25,588 | $25,994 |
Accumulated depreciation | -21,477 | -21,301 |
Property and equipment, net | 4,111 | 4,693 |
Machinery and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, and equipment, gross | 22,209 | 22,302 |
Computer hardware and software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, and equipment, gross | 2,508 | 2,827 |
Leasehold improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, and equipment, gross | $871 | $865 |
Restructuring_Charges_Narrativ
Restructuring Charges - Narrative (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | $79,000 | $0 | $1,693,000 | $0 |
Minimum [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Estimated employee related restructuring charges | ' | ' | 1,700,000 | ' |
Maximum [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Estimated employee related restructuring charges | ' | ' | 1,900,000 | ' |
Employee Severance [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Estimated employee related restructuring charges | ' | ' | 1,600,000 | ' |
Restructuring charges | ' | ' | $1,500,000 | ' |
Restructuring_Charges_Diagnost
Restructuring Charges - Diagnostic Imaging Restructuring Initiative (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Accrued at December 31, 2012 | ' | ' | $0 | ' |
Accrued Costs | 79 | 0 | 1,693 | 0 |
Cash Payments and Other Reductions | ' | ' | 1,122 | ' |
Accrued at September 30, 2013 | $571 | ' | $571 | ' |
Financial_Instruments_Assets_a
Financial Instruments Assets and Liabilities at Fair Value on a Recurring Basis (Details) (Corporate Debt Securities [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Corporate debt securities | $0 | $0 |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Corporate debt securities | 8,301 | 7,679 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Corporate debt securities | 0 | 0 |
Total [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Corporate debt securities | $8,301 | $7,679 |
Financial_Instruments_Securiti
Financial Instruments Securities Available for Sale (Details) (3 years or less [Member], Corporate Debt Securities [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
3 years or less [Member] | Corporate Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Maturities in Years | '3 years | '3 years |
Amortized Cost | $8,319 | $7,662 |
Unrealized Gains | 8 | 17 |
Unrealized Losses | -26 | 0 |
Fair Value | $8,301 | $7,679 |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Litigation settlement accrual | $385 |
Income_Tax_Details
Income Tax (Details) (USD $) | Dec. 31, 2012 |
In Millions, unless otherwise specified | |
Income Tax Disclosure [Abstract] | ' |
Unrecognized tax benefits | $1.50 |
Unrecognized tax benefits that would impact effective tax rate | $1.20 |
Stock_Repurchase_Program_Detai
Stock Repurchase Program (Details) (2009 Stock Repurchase Program [Member], USD $) | 0 Months Ended | 7 Months Ended | 3 Months Ended | 9 Months Ended | 56 Months Ended |
In Millions, except Share data, unless otherwise specified | Mar. 12, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | |||
Stock buy back program [Line Items] | ' | ' | ' | ' | ' |
Authorized amount under stock buyback program | $7 | $12 | ' | ' | ' |
Stock repurchased during the period (shares) | ' | ' | 254,084 | 1,514,843 | 2,588,484 |
Cost of common stock repurchased | ' | ' | ' | ' | $5.70 |
Segments_Details
Segments (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||
Gross profit by segment | $3,818 | $3,129 | $10,428 | $10,482 | ||
Income (loss) from operations by segment | 2,432 | -1,067 | -609 | -3,255 | ||
Depreciation and amortization | 475 | 524 | 1,447 | 1,650 | ||
DIS [Member] | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||
Gross profit by segment | 2,573 | 1,976 | 6,983 | 6,757 | ||
Income (loss) from operations by segment | 396 | 12 | -192 | 227 | ||
Depreciation and amortization | 348 | 440 | 1,095 | 1,414 | ||
Diagnostic Imaging [Member] | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||
Gross profit by segment | 1,245 | 1,153 | 3,445 | 3,725 | ||
Income (loss) from operations by segment | 2,036 | [1] | -1,079 | -417 | [1] | -3,482 |
Depreciation and amortization | $127 | $84 | $352 | $236 | ||
[1] | Included in the Diagnostic Imaging loss from operations for the three and nine months ended SeptemberB 30, 2013, are approximately $0.1 million and $1.7 million of charges, respectively, associated with our Diagnostic Imaging restructuring initiative (See Note 5), as well as a gain of approximately $1.6 million associated with the sale of assets and licensing agreement from an uncommercialized surgical imaging system previously in development |
Segments_Asset_by_Segment_Deta
Segments Asset by Segment Detail (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Identifiable assets by segment | $41,983 | ' | $41,983 | ' | $44,909 |
Restructuring charges | 79 | 0 | 1,693 | 0 | ' |
Gain on sale of assets and license agreement | 1,568 | 0 | 1,568 | 0 | ' |
DIS [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Identifiable assets by segment | 11,620 | ' | 11,620 | ' | 9,105 |
Diagnostic Imaging [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Identifiable assets by segment | $30,363 | ' | $30,363 | ' | $35,804 |
Preferred_Stock_Rights_Details
Preferred Stock Rights (Details) (USD $) | Sep. 30, 2013 | Jun. 04, 2013 | Dec. 31, 2012 | Jun. 04, 2013 | Jun. 04, 2013 |
Common Stock [Member] | Series B Preferred Stock [Member] | ||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Par value of outstanding shares (dollars per share) | $0.00 | $0.00 | $0.00 | ' | ' |
Number of shares of Series B Preferred Stock entitled for purchase for each right (shares) | ' | ' | ' | 1 | ' |
Preferred stock par value (dollars per share) | $0.00 | ' | $0.00 | ' | $0.00 |
Exercise price of each right under the tax benefit preservation plan (dollars per one one-thousandth of a share) | ' | ' | ' | ' | 20 |
Common stock ownership percentage | ' | ' | ' | 4.99% | ' |
Sale_of_Assets_Details
Sale of Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jul. 31, 2013 | Jul. 31, 2013 | |
Novadaq Technologies [Member] | Novadaq Technologies [Member] | |||||
Regulatory And Commercial Milestones | ||||||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ' | ' | ' |
Proceeds from Sale of Machinery and Equipment | ' | ' | ' | ' | $2,000,000 | ' |
Maximum deferred contingent payments to be received from asset purchase agreement with Novadaq Technologies | ' | ' | ' | ' | ' | 1,000,000 |
Contingent royalty contractual payment period | ' | ' | ' | ' | '5 years | ' |
Gain on sale of assets and license agreement | $1,568,000 | $0 | $1,568,000 | $0 | ' | ' |