Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 25, 2014 | Jun. 30, 2013 | |
Entity Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'SPIRE Corp | ' | ' |
Entity Central Index Key | '0000731657 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'Q4 | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 9,207,874 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $3,378,231 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and Cash Equivalents | $3,986 | $3,030 |
Restricted cash | 170 | 0 |
Available-for-sale Securities, Current | 3,535 | 0 |
Accounts receivable – trade, net | 1,414 | 2,137 |
Inventories, net | 3,816 | 5,316 |
Deferred cost of goods sold | 849 | 185 |
Deposits on equipment for inventory | 0 | 69 |
Prepaid expenses and other current assets | 926 | 617 |
Current assets of discontinued operations | 0 | 718 |
Total current assets | 14,696 | 12,072 |
Property and equipment, net | 941 | 1,197 |
Intangible and other assets, net | 432 | 393 |
Available-for-sale investments, at quoted market value (cost of $2,250 and $2,204 at June 30, 2012 and December 31, 2011, respectively) | 0 | 2,963 |
Total assets | 16,069 | 16,625 |
Current liabilities | ' | ' |
Current portion of capital lease obligation | 8 | 13 |
Revolving line of credit | 583 | 590 |
Long-term Debt, Current Maturities | 753 | 0 |
Accounts Payable, Current | 2,323 | 1,424 |
Accrued liabilities | 2,336 | 2,221 |
Advances on contracts in progress | 1,433 | 1,037 |
Liabilities of discontinued operations | 21 | 171 |
Deferred Compensation Liability, Current | 3,535 | 0 |
Total current liabilities | 10,992 | 5,456 |
Long-term portion of capital lease obligation | 0 | 8 |
Long-term portion of term loan | 5,064 | 0 |
Deferred compensation | 0 | 2,963 |
Other long-term liabilities | 726 | 746 |
Total long-term liabilities | 5,790 | 3,717 |
Total liabilities | 16,782 | 9,173 |
Stockholders’ equity | ' | ' |
Common stock, $0.01 par value; 20,000,000 shares authorized; 8,562,633 shares issued and outstanding on June 30, 2012 and December 31, 2011, respectively | 93 | 91 |
Additional paid-in capital | 23,267 | 23,084 |
Accumulated deficit | -24,422 | -15,945 |
Accumulated other comprehensive income | 393 | 222 |
Total stockholders’ equity | -669 | 7,452 |
Noncontrolling Interest in Variable Interest Entity | -44 | 0 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -713 | 7,452 |
Total liabilities and stockholders’ equity | $16,069 | $16,625 |
Consolidated_Statement_of_Oper
Consolidated Statement of Operation Statement (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Net sales and revenues | ' | ' |
Sales of goods | $5,734 | $12,989 |
Contract research and service revenues | 8,847 | 9,121 |
Total net sales and revenues | 14,581 | 22,110 |
Cost of sales and revenues | ' | ' |
Cost of goods sold | 7,514 | 11,943 |
Cost of contract research and services | 4,561 | 4,896 |
Total cost of sales and revenues | 12,075 | 16,839 |
Gross margin | 2,506 | 5,271 |
Operating expenses | ' | ' |
Selling, general and administrative expenses | 10,851 | 11,676 |
Internal research and development expenses | 31 | 233 |
Total operating expenses | 10,882 | 11,909 |
Gain on termination of contracts | 0 | 35 |
Operating loss from continuing operations | -8,376 | -6,603 |
Interest expense, net | -138 | -120 |
Foreign exchange gain (loss) | -9 | -7 |
Total other expense, net | -147 | -127 |
Loss from continuing operations before income tax benefit | -8,523 | -6,730 |
Income tax benefit - continuing operations | 2 | 1,951 |
Loss from continuing operations | -8,521 | -4,779 |
Loss from discontinued operations before sale of business unit | 0 | -580 |
Gain on sale of business unit, net of transaction expenses | 0 | 5,449 |
Income tax provision - discontinued operations | 0 | 1,948 |
Income from discontinued operations, net of tax | 0 | 2,921 |
Net loss | -8,521 | -1,858 |
Less: Net loss attributable to noncontrolling interest | -44 | 0 |
Net loss attributable to common stockholders | ($8,477) | ($1,858) |
Basic and diluted income (loss) per share: | ' | ' |
From continuing operations, net of tax | ($0.92) | ($0.56) |
From discontinued operations, net of tax | $0 | $0.34 |
Basic and diluted loss per share | ($0.92) | ($0.22) |
Weighted average number of common and common equivalent shares outstanding – basic (in shares) | 9,176,438 | 8,579,027 |
Earnings Per Share, Diluted [Abstract] | ' | ' |
From continuing operations, net of tax | ($0.92) | ($0.56) |
From discontinued operations, net of tax | $0 | $0.34 |
Diluted loss per share | ($0.92) | ($0.22) |
Weighted average number of common and common equivalent shares outstanding – diluted | 9,176,438 | 8,579,027 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Available-for-sale investments, at quoted market value, cost | $3,142 | $2,741 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 9,207,874 | 9,062,633 |
Common stock, shares outstanding | 9,207,874 | 9,062,633 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (Loss) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Comprehensive income (loss): | ' | ' |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($8,521) | ($1,858) |
Other comprehensive income: | ' | ' |
Change in unrealized gain (loss) on available for sale marketable securiteis, net of tax | 171 | 21 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -8,350 | -1,837 |
Comprehensive (Income) Loss, Net of Tax, Attributable to Noncontrolling Interest | -44 | 0 |
Total comprehensive loss | ($8,306) | ($1,837) |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital [Member] | Parent [Member] | Accumulated Deficit [Member] | Noncontrolling Interest [Member] | Accumulated Other Comprehensive Income [Member] | |
In Thousands, unless otherwise specified | ||||||||
Stockholders' Equity Beginning Balance at Dec. 31, 2011 | ' | $86 | $22,510 | $8,710 | ($14,087) | ' | $201 | |
Shares beginning of the period at Dec. 31, 2011 | 8,562,633 | ' | ' | ' | ' | ' | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |
Issuance of common stock - Shares | ' | 500,000 | ' | ' | ' | ' | ' | |
Issuance of common stock | 384 | 5 | 379 | 384 | ' | ' | ' | |
Share-based compensation | [1] | 195 | ' | 195 | 195 | ' | ' | ' |
Net change in unrealized gain on available for sale marketable securities | 21 | 0 | 0 | 21 | 0 | ' | 21 | |
Net Loss | -1,858 | ' | ' | -1,858 | -1,858 | ' | ' | |
Adjustments to Additional Paid in Capital, Share-based Compensation of Discontinued Operations, Requisite Service Period Recognition, Total. | -7 | ' | ' | ' | ' | ' | ' | |
Less: Net loss attributable to noncontrolling interest | 0 | ' | ' | ' | ' | ' | ' | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 7,452 | ' | ' | ' | ' | ' | ' | |
Stockholders' Equity Ending Balance at Dec. 31, 2012 | 7,452 | 91 | 23,084 | 7,452 | -15,945 | ' | 222 | |
Shares end of the period at Dec. 31, 2012 | 9,062,633 | ' | ' | ' | ' | ' | ' | |
Stockholders' Equity Attributable to Noncontrolling Interest | -44 | ' | ' | ' | ' | ' | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |
Issuance of common stock - Shares | ' | 145,241 | ' | ' | ' | ' | ' | |
Issuance of common stock | 85 | 2 | 83 | 85 | ' | ' | ' | |
Share-based compensation | 100 | ' | 100 | 100 | ' | ' | ' | |
Net change in unrealized gain on available for sale marketable securities | 171 | 0 | 0 | 171 | 0 | ' | 171 | |
Net Loss | -8,477 | ' | ' | -8,477 | -8,477 | ' | ' | |
Adjustments to Additional Paid in Capital, Share-based Compensation of Discontinued Operations, Requisite Service Period Recognition, Total. | 0 | ' | ' | ' | ' | ' | ' | |
Less: Net loss attributable to noncontrolling interest | -44 | ' | ' | ' | ' | -44 | ' | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -713 | ' | ' | ' | ' | ' | ' | |
Stockholders' Equity Ending Balance at Dec. 31, 2013 | ($669) | $93 | $23,267 | ($669) | ($24,422) | ' | $393 | |
Shares end of the period at Dec. 31, 2013 | 9,207,874 | ' | ' | ' | ' | ' | ' | |
[1] | (1)Â Includes $(7) thousand, related to discontinued operations for the years ended December 31, 2012. |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity and Comprehensive Income (Loss) (USD $) | Total | Common Stock | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income [Member] | |
In Thousands, unless otherwise specified | ||||||
Stockholders' Equity Beginning Balance at Dec. 31, 2011 | ' | $86 | $22,510 | ($14,087) | $201 | |
Shares beginning of the period at Dec. 31, 2011 | 8,562,633 | ' | ' | ' | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | |
Issuance of common stock - Shares | ' | 500,000 | ' | ' | ' | |
Issuance of common stock | 384 | 5 | 379 | ' | ' | |
Share-based compensation | [1] | 195 | ' | 195 | ' | ' |
Net change in unrealized gain on available for sale marketable securities | 21 | 0 | 0 | 0 | 21 | |
Net Loss | -1,858 | ' | ' | -1,858 | ' | |
Stockholders' Equity Ending Balance at Dec. 31, 2012 | 7,452 | 91 | 23,084 | -15,945 | 222 | |
Shares end of the period at Dec. 31, 2012 | 9,062,633 | ' | ' | ' | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | |
Issuance of common stock - Shares | ' | 145,241 | ' | ' | ' | |
Issuance of common stock | 85 | 2 | 83 | ' | ' | |
Share-based compensation | 100 | ' | 100 | ' | ' | |
Net change in unrealized gain on available for sale marketable securities | 171 | 0 | 0 | 0 | 171 | |
Net Loss | -8,477 | ' | ' | -8,477 | ' | |
Stockholders' Equity Ending Balance at Dec. 31, 2013 | ($669) | $93 | $23,267 | ($24,422) | $393 | |
Shares end of the period at Dec. 31, 2013 | 9,207,874 | ' | ' | ' | ' | |
[1] | (1)Â Includes $(7) thousand, related to discontinued operations for the years ended December 31, 2012. |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows Statement (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | ' | ' |
Net loss attributable to common stockholders | ($8,477) | ($1,858) |
Less: Net Income (loss) from discontinued operations, net of tax | 0 | 2,921 |
Loss from continuing operations | -8,521 | -4,779 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 509 | 804 |
Deferred tax benefit | 0 | -1,948 |
Deferred compensation | 171 | 21 |
Share-based Compensation | 100 | 202 |
Provision for (reversal of) accounts receivable reserves | 18 | 30 |
Provision for inventory reserve | 221 | 317 |
Changes in assets and liabilities: | ' | ' |
Restricted cash | -170 | 21 |
Accounts receivable | 705 | 1,297 |
Inventories | 1,245 | 1,115 |
Deferred cost of goods sold | -664 | -5 |
Deposits, prepaid expenses and other current assets | -240 | 680 |
Accounts payable, accrued liabilities and other liabilities | 1,079 | -2,972 |
Deposit - related party | 0 | 300 |
Advances on contracts in progress | 396 | -1,195 |
Net cash used in operating activities of continuing operations | -5,151 | -6,112 |
Net Cash Provided by Operating Activities of Discontinued Operations | -150 | -1,726 |
Net cash provided by (used in) operating activities | -5,301 | -7,838 |
Cash flows from investing activities: | ' | ' |
Payments to Acquire Property, Plant, and Equipment | -139 | -143 |
Additions to intangible and other assets | -119 | -2 |
Net cash used in investing activities of continuing operations | -258 | -145 |
Net cash provided by (used in) investing activities of discontinued operations | 718 | 6,859 |
Net cash provided by (used in) investing activities | 460 | 6,714 |
Cash flows from financing activities: | ' | ' |
Principal payments on capital lease obligations | -13 | -37 |
Proceeds from Notes Payable | 6,000 | 0 |
Repayments of Notes Payable | -183 | 0 |
Proceeds from (Repayments of) Lines of Credit | -7 | -567 |
Net cash used in financing activities | 5,797 | -604 |
Net increase (decrease) in cash and cash equivalents | 956 | -1,728 |
Cash and cash equivalents, beginning of period | 3,030 | 4,758 |
Cash and cash equivalents, end of period | 3,986 | 3,030 |
Supplemental disclosures of cash flow information: | ' | ' |
Interest paid | 138 | 120 |
Income taxes refunded, net | -7 | -5 |
Supplemental disclosure of non-cash flow information | ' | ' |
Liabilities converted to common stock | 84 | 384 |
Dividends | $9,540 | $0 |
Description_of_Business
Description of Business | 12 Months Ended |
Dec. 31, 2013 | |
Description of the Business [Abstract] | ' |
Description of the Business [Text Block] | ' |
Description of the Business | |
Spire Corporation ("Spire" or the "Company") and its subsidiaries, along with its variable interest entity, develop, manufacture and market highly-engineered products and services in two principal business areas: (i) capital equipment and systems for the photovoltaic solar industry and (ii) biomedical, through its variable interest entity, N2 Biomedical LLC ("N2 Bio"), generally bringing to bear expertise in materials technologies, surface science and thin films across both business areas, discussed below. | |
In the photovoltaic solar area, the Company develops, manufactures and markets specialized equipment for the production of terrestrial photovoltaic modules from solar cells and provide photovoltaic systems for grid connected applications in the commercial markets. The Company's equipment has been installed in approximately 200 factories in 50 countries. The equipment market is very competitive with major competitors located in the U.S., Japan and Europe. The Company's flagship product is its Spi-Sun simulator which tests module performance. The Company's other product offerings include turn-key module lines and to a lesser extent other individual equipment. To compete the Company offers other services such as training and assistance with module certification. The Company also provides turn-key services to its customers to backward integrate to solar cell manufacturing. | |
In the biomedical area, through its variable interest entity, N2 Bio, the Company provides value-added surface treatments to manufacturers of orthopedic and other medical devices that enhance the durability, antimicrobial characteristics or other material characteristics of their products, and performs sponsored research programs into practical applications of advanced biomedical technologies. | |
Transactions | |
On September 18, 2013, the Company, Spire Biomedical, Inc. (the “Subsidiary” and together with the Company, “Spire Bio”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with N2 Bio pursuant to which N2 Bio agreed to (i) acquire substantially all of the assets of the Subsidiary's biomedical business (the “Bio Business Unit”) and (ii) assume and pay certain liabilities related to the purchased assets as set forth in the Purchase Agreement (collectively, the “Transaction”). The Transaction closed on September 18, 2013. The purchase price for the Bio Business Unit was $10.5 million plus the assumption of liabilities of approximately $100 thousand, with $6.0 million paid in cash at closing, a $2.4 million subordinated convertible promissory note, and 310,549 Series A Convertible Preferred Units of N2 Bio valued at approximately $2.1 million ($6.72 per share). The assets and liabilities of the Subsidiary's biomedical business are under common control and were recorded at carryover basis for financial reporting. The difference between the consideration paid and the carrying value of the assets and liabilities acquired by N2 Bio was recorded as a deemed dividend to the Company in the amount of $9.5 million and has been eliminated in consolidation. Mark C. Little was the Chief Executive Officer of the Subsidiary, is a member of the Company's Board of Directors and is the Chief Executive Officer of N2 Bio. Mark C. Little is the son of Roger G. Little, Chairman of the Board of the Company. Roger G. Little is also a member of the Board of Directors of N2 Bio. | |
The Company has determined that N2 Bio is a variable interest entity ("VIE") because the equity investment at risk from the majority shareholders of N2 Bio is not sufficient to permit N2 Bio to finance its activities without additional subordinated financial support. As discussed above, N2 Bio is subject to a subordinated convertible promissory note to the Company. Additionally, Mark Little is the Chief Executive Officer of N2 Bio and also a member of the Company's Board of Directors. The Company has also determined that the Company has the obligation to absorb losses and the right to receive benefits from N2 Bio that could potentially be significant to it. Therefore, the Company has determined that N2 Bio is a VIE and that the Company is a primary beneficiary of the VIE and must consolidate the financial condition, results of operations and cash flows of N2 Bio with those of its own. See Note 19 to the consolidated financial statements. | |
The subordinated convertible promissory note (i) bears interest at 9% per annum until paid in full, (ii) is convertible, at Company's option, into Common Units of N2 Bio at a conversion price of $6.72 per share, (iii) has a seven year term, (iv) is unsecured and (v) is subordinate in right of payment to all senior bank indebtedness of N2 Bio. | |
The Series A Convertible Preferred Units (i) represent an equity ownership interest of 19.9% in N2 Bio, (ii) are governed by the terms of the Amended and Restated Limited Liability Company Agreement of N2 Bio dated September 18, 2013, (iii) rank senior to the Common Units on liquidation, dissolution and winding up, and (iv) vote together with the Common Units on an as-converted basis. The Company has the right to appoint one director to the Board of Directors of N2 Bio. N2 Bio is subject to certain affirmative and negative operating covenants in favor of the holder of Series A Preferred Units. | |
On September 18, 2013, the Company and N2 Bio entered into a Shared Services Agreement whereby the Company will provide N2 Bio certain services (the “Shared Services”) for a period of three years. It is the intent of the parties that the aggregate fees for the Shared Services shall equal approximately $500 thousand during the first year. Following the first anniversary, N2 Bio may terminate any specific Shared Service with 20 days' written notice to the Company. | |
On September 18, 2013, the lease agreement between SPI-Trust and the Company for the premises in Bedford, Massachusetts where the Business is located was amended, by reducing the Company's leased space and annual base rent by approximately 19%. All other material terms and conditions related to the lease remain unchanged as of such date. | |
On September 18, 2013, N2 Bio entered into a Lease Agreement (the “N2 Bio Bedford Lease”) with SPI-Trust with respect to 27 thousand square feet of space in the premises in Bedford, Massachusetts. The term of the N2 Bio Bedford Lease commenced on September 18, 2013 and is set to expire on November 30, 2020. The annual rental rate prorated for September 18, 2013 to November 30, 2013 is $16.00 per square foot on a triple net basis, whereby the tenant is responsible for operating expenses, taxes and maintenance of the building. The annual rental rate increases on December 1, 2013 and each anniversary thereafter by $0.50 per square foot. | |
The Purchase Agreement includes a five-year commitment of (i) the Company not to compete with the Bio Business Unit services and (ii) N2 Bio not to compete with the consumer electronic products business of the Company. Both the Company and N2 Bio agreed not to solicit the officers or employees of the other party for a one-year period. | |
On March 9, 2012, the Company completed the sale of its semiconductor business unit, which provided semiconductor foundry services, operated a semiconductor foundry and fabrication facility and was engaged in the business of wafer epitaxy, foundry services, and device fabrication for the defense, medical, telecommunications and consumer products markets (the “Semiconductor Business Unit”), to Masimo Corporation ("Masimo"). Accordingly, the results of operations and assets and liabilities of the Semiconductor Business Unit are being presented herein as discontinued operations. See Note 18 to the consolidated financial statements. | |
Liquidity | |
Operating results will depend upon revenue growth or decline and product mix, as well as the timing of shipments of higher priced products from the Company's solar equipment line. Export sales, which amounted to 34% and 53% of net sales and revenues for 2013 and 2012, respectively, continue to constitute a significant portion of the Company's net sales and revenues. | |
The Company has incurred operating losses from continuing operations. Operating loss from continuing operations was $8.4 million and $6.6 million in 2013 and 2012, respectively. Net cash used in operating activities was $5.3 million in 2013, which includes $150 thousand of cash used in operating activities of discontinued operations. Net cash used in operating activities was $7.8 million in 2012, which includes $1.7 million of cash used in operating activities of discontinued operations. As of December 31, 2013, the Company had unrestricted cash and cash equivalents of $4.0 million compared to $3.0 million as of December 31, 2012. The maturity date of the Company's credit facilities with Silicon Valley Bank is April 30, 2014. The maturity date of N2 Bio's revolving credit facility with Middlesex Savings Bank is September 18, 2014. These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company currently believes that its existing cash resources at December 31, 2013, will be sufficient to fund its operations into the second half of 2014; however, the Company cannot assure you of this. | |
The Company has various options on how to fund future operational losses and working capital needs, including but not limited to sales of equity, bank debt, the sale or license of assets and technology, or joint ventures involving cash infusions, as it has done in the past; however, there are no assurances that the Company will be able to sell equity, obtain or access bank debt, sell or license assets or technology or enter into such joint ventures on a timely basis and at appropriate values. The Company has developed several plans including potential strategic alternatives, cost reduction efforts and expanding revenue in other solar markets to offset a decline in business due to global economic conditions. The Company's inability to successfully implement its cost reduction strategies, expand revenue in other solar markets or to renew its credit facilities, could adversely impact the Company's ability to continue as a going concern. | |
Based on the forecasts and estimates underlying the Company's current operating plan, the financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies | ' |
New Accounting Standards | |
In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2013-11 ("ASU 2013-11"), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The update requires, unless certain conditions exists, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, similar tax loss, or a tax credit carryforward. ASU 2013-11 is effective prospectively for reporting periods beginning after December 15, 2013, with early adoption permitted. Retrospective application is permitted. The Company is currently evaluating the impact of ASU 2013-11 yet there are no uncertain tax positions included in the consolidated financial statements. | |
In December 2011, the FASB issued ASU No. 2011-11 ("ASU 2011-11"), Disclosures about Offsetting Assets and Liabilities. The update requires companies to disclose information about financial instruments that have been offset and related arrangements to enable users of their financial statements to understand the effect of those arrangements on their financial position. Companies will be required to provide both net (offset amounts) and gross information in the notes to the financial statements for relevant assets and liabilities that are offset. In January 2013, the FASB issued ASU No. 2013-01 (ASU 2013-01"), Clarifying the Scope of Disclosures About Offsetting Assets and Liabilities. The update limits the scope of the offsetting disclosures required by ASU 2011-11. ASU 2011-11 and ASU 2013-01 is effective for interim and annual periods beginning after December 31, 2012. As the requirements of these ASUs relate only to disclosures, the application of the updates did not have an impact on the Company's consolidated financial statements. | |
In December 2011, the FASB issued ASU No. 2011-12 ("ASU 2011-12"), Comprehensive Income: Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. ASU 2011-12 deferred the effective date of the specific requirement to present items that are reclassified out of accumulated other comprehensive income to net income alongside their respective components of net income and other comprehensive income. As part of this update, the FASB did not defer the requirement to report comprehensive income in either a single continuous statement or in two separate but consecutive statements. In February 2013, the FASB issued ASU No. 2013-02 ("ASU 2013-02"), Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 is effective for interim and annual periods beginning after December 31, 2012. As ASU 2013-02 relates to disclosure requirements only, the application of this update did not have a material impact on the Company's consolidated financial statements |
Accounts_Receivable_and_Advanc
Accounts Receivable and Advances on Contracts in Progress | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounts Receivable and Advances on Contracts in Progress [Abstract] | ' | |||||||
Accounts Receivables and Advances on Contracts in Progress [Text Block] | ' | |||||||
Accounts Receivable/Advances on Contracts in Progress | ||||||||
Net accounts receivable, trade and advances on contracts in progress consists of the following at December 31: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Amounts billed | $ | 1,396 | $ | 1,927 | ||||
Accrued revenue | 18 | 238 | ||||||
1,414 | 2,165 | |||||||
Less: Allowance for doubtful accounts | — | (28 | ) | |||||
Net accounts receivable - trade | $ | 1,414 | $ | 2,137 | ||||
Advances on contracts in progress | $ | 1,433 | $ | 1,037 | ||||
Accrued revenue represents revenues recognized on contracts for which billings have not been presented to customers as of the balance sheet date. These amounts are billed and generally collected within one year. | ||||||||
The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to pay amounts due. The Company actively pursues collection of past due receivables as the circumstances warrant. Customers are contacted to determine the status of payment and senior accounting and operations management are included in these efforts as is deemed necessary. A specific reserve will be established for past due accounts when it is probable that a loss has been incurred and the Company can reasonably estimate the amount of the loss. The Company does not record an allowance for government receivables and invoices backed by letters of credit as realizeability is reasonably assured. Bad debts are written off against the allowance when identified. There is no dollar threshold for account balance write-offs. While rare, a write-off is only recorded when all efforts to collect the receivable have been exhausted. The Company received payments of $24 thousand and $10 thousand for the years ended December 31, 2013 and 2012, respectively, against amounts which had been previously reserved for in allowance for doubtful accounts. | ||||||||
Advances on contracts in progress represent billings that have been presented to the customer, as either deposits or progress payments against future shipments, but revenue has not been recognized. |
Inventories_and_Deferred_Costs
Inventories and Deferred Costs of Goods Sold | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventories and Deferred Costs of Goods Sold [Abstract] | ' | |||||||
Inventory and Deferred Costs of Goods Sold | ' | |||||||
Inventories and Deferred Cost of Goods Sold | ||||||||
Inventories, net of $1,019 thousand and $860 thousand of reserves at December 31, 2013 and 2012, respectively, and deferred cost of goods sold consist of the following at December 31: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
$ | 1,310 | $ | 1,784 | |||||
Raw materials | ||||||||
Work in process | 2,004 | 2,103 | ||||||
Finished goods | 502 | 1,429 | ||||||
Net inventory | $ | 3,816 | $ | 5,316 | ||||
Deferred cost of goods sold | $ | 849 | $ | 185 | ||||
The Company wrote-off $62 thousand and $317 thousand of excess and obsolete inventory for the years ended December 31, 2013 and 2012, respectively. | ||||||||
Deferred cost of goods sold represents costs of equipment that has shipped to the customer and title has passed but not all revenue recognition criteria have yet been met. The Company defers these costs until the related revenue is recognized. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||
Property and Equipment | ||||||||
Property and equipment consists of the following at December 31: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Machinery and equipment | $ | 11,783 | $ | 11,657 | ||||
Furniture fixtures and computer equipment | 4,824 | 4,741 | ||||||
Leasehold improvements | 3,894 | 3,854 | ||||||
Construction in progress | 43 | 119 | ||||||
20,544 | 20,371 | |||||||
Accumulated depreciation | (19,603 | ) | (19,174 | ) | ||||
$ | 941 | $ | 1,197 | |||||
Depreciation expense from continuing operations relating to property and equipment was approximately $429 thousand and $705 thousand for the years ended December 31, 2013 and 2012, respectively. |
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities [Abstract] | ' | |||||||
Accrued Liabilities Disclosure | ' | |||||||
Accrued Liabilities | ||||||||
Accrued liabilities include the following at December 31: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Accrued employee related | $ | 689 | $ | 607 | ||||
Accrued professional fees | 397 | 401 | ||||||
Accrued warranty and product | 152 | 583 | ||||||
Accrued other | 1,098 | 630 | ||||||
$ | 2,336 | $ | 2,221 | |||||
Notes_Payable_and_Credit_Arran
Notes Payable and Credit Arrangements | 12 Months Ended |
Dec. 31, 2013 | |
Notes Payable and Credit Arrangements [Abstract] | ' |
Notes Payable and Credit Arrangements | ' |
Notes Payable and Credit Arrangements | |
The Company has two separate credit facilities with Silicon Valley Bank (the “Bank” or “SVB”): (i) a Second Amended and Restated Loan and Security Agreement (as amended, the "Revolving Credit Facility") and (ii) an Amended and Restated Export-Import Bank Loan and Security Agreement (as amended, the "Ex-Im Facility") pursuant to which outstanding amounts under this facility are guaranteed by the Export-Import Bank of the United States (the “EXIM Bank”). The credit facilities provide an aggregate amount of $1.5 million under both facilities, with up to $1.0 million available under the Revolving Credit Facility and up to $1.5 million available under the Ex-Im Facility. In addition, a guidance line supports letters of credit in an aggregate amount of up to $1.5 million through April 30, 2014. If the Company achieves certain levels of liquidity, based on cash on hand and availability under the credit facility, the Company will not be required to cash collateralize letters of credit issued under this guidance line. | |
On September 3, 2013, the Company and the Bank entered into (i) the Sixth Loan Modification Agreement amending certain terms of the Second Amended and Restated Loan and Security Agreement dated as of November 16, 2009 (as amended, the “Revolving Credit Facility”) and (ii) the Sixth Loan Modification Agreement amending certain terms of the Amended and Restated Export-Import Bank Loan and Security Agreement dated as of November 16, 2009 (as amended, the “Ex-Im Facility”). Pursuant to the terms of the Sixth Loan Modification Agreements, the Company and the Bank agreed to extend the maturity date of the Revolving Credit Facility and the Ex-Im Facility to October 29, 2013 . | |
On November 18, 2013, the Company and the Bank entered into (i) the Seventh Loan Modification Agreement amending certain terms of the Second Amended and Restated Loan and Security Agreement dated as of November 16, 2009 (as amended, the “Revolving Credit Facility”) and (ii) the Seventh Loan Modification Agreement amending certain terms of the Amended and Restated Export-Import Bank Loan and Security Agreement dated as of November 16, 2009 (as amended, the “Ex-Im Facility”). Pursuant to the terms of the Seventh Loan Modification Agreements, the Company and the Bank agreed to (i) extend the maturity date of the Revolving Credit Facility and the Ex-Im Facility to from October 29, 2013 to April 30, 2014, (ii) effective November 18, 2013 amend the definition of the Financial Covenant by deleting the requirement to maintain liquidity of at least $1.25 million at all times based on cash on hand and availability under the credit facility and replacing it with a newly defined covenant whereby the Company shall maintain cash on hand of at least $2.5 million at all times, as long as any commitment remains outstanding under the facilities, and (iii) amend the definition of Streamline Facility Eligible to increase the liquidity requirement from $2.5 million to $3.5 million. | |
The Company's obligations under these two credit facilities, as well as the guidance line, are secured by substantially all of the assets of the Company. Advances under the Revolving Credit Facility are limited to 80% of eligible receivables. Advances under the Ex-Im Facility are limited to (i) 90% of eligible receivables subject to a suitable foreign currency hedge agreement if applicable, plus (ii) 75% of all other eligible receivables billed in foreign currency, plus (iii) 50% of the value of eligible inventory, as defined. In addition, until all amounts under the credit facilities with the Bank are repaid, covenants under the credit facilities impose restrictions on the Company's ability to, among other things, incur additional indebtedness, create or permit liens on the Company's assets, merge, consolidate or dispose of assets (other than in the ordinary course of business), make dividend and other restricted payments, make certain debt or equity investments, make certain acquisitions, engage in certain transactions with affiliates or change the business conducted by the Company. Any failure by the Company to comply with the covenants and obligations under the credit facilities could result in an event of default, in which case the Bank may be entitled to declare all amounts owed to be due and payable immediately. | |
Under the credit facilities, interest on outstanding borrowings accrues at a rate per annum equal to the greater of (i) the prime rate plus 2.5% or (ii) 7.0%. In addition, if the Company achieves certain levels of liquidity, based on cash on hand and availability under the credit facility, the Company will have a 0.5% lower interest rate. | |
N2 Bio has has two separate agreements under one credit facility with Middlesex Savings Bank (“MSB”): (i) a Secured Term Loan and (ii) a Secured Revolving Demand Note. Under the Secured Term Loan, N2 Bio borrowed $6.0 million on September 18, 2013 to finance the purchase of the Bio Business Unit from the Company. The advance made under the Secured Term Loan will bear interest at a fixed rate of 4.5% per annum in eighty-four (84) consecutive monthly payments starting on October 18, 2013. If not sooner paid, the Secured Term Loan shall be due and payable in full on September 18, 2020. The Secured Revolving Demand Note provides an amount available of up to $1.0 million. Advances made under the Secured Revolving Demand Note will bear interest at MSB's prime rate, as determined, plus 0.5% per annum but in no event shall the interest rate be less than 3.75% per annum. The maturity date of the Secured Revolving Demand Note is September 18, 2014. | |
N2 Bio's obligations under the credit facility, is secured by substantially all of the assets of N2 Bio. Advances under the Secured Revolving Demand Note are limited to 75% of eligible receivables. In addition, until all amounts under the credit facilities with MSB are repaid, covenants under the credit facilities impose restrictions on the N2 Bio's ability to, among other things, incur additional indebtedness, create or permit liens on the N2 Bio's assets, merge, consolidate or dispose of assets (other than in the ordinary course of business), make dividend and other restricted payments, make certain debt or equity investments, make certain acquisitions, engage in certain transactions with affiliates or change the business conducted by the N2 Bio. Any failure by N2 Bio to comply with the covenants and obligations under the credit facilities could result in an event of default, in which case MSB may be entitled to declare all amounts owed to be due and payable immediately. | |
Advances outstanding under the Company's Revolving Credit Facility were $107 thousand and $449 thousand at December 31, 2013 and 2012, respectively. Advances outstanding under the Company's Ex-Im Facility were $38 thousand and $141 thousand at December 31, 2013 and 2012, respectively. Advances outstanding under the N2 Bio Secured Term Loan were $5.8 million at December 31, 2013. Advances outstanding under the N2 Bio Secured Revolving Demand Note were $438 thousand at December 31, 2013. As of December 31, 2013, the interest rate per annum on the Company's Revolving Credit Facility and Ex-Im Facility was 6.0% and 6.0%, respectively. The interest rate per annum on the N2 Bio Secured Term Loan and Secured Revolving Demand Note on December 31, 2013 was 4.50% and 3.75%, respectively. The Company had utilized $675 thousand of the guidance line at December 31, 2012. Combined availability under the Revolving Credit Facility, the Ex-Im Facility and the Secured Revolving Demand Note was $581 thousand as of December 31, 2013. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||
Fair Value Disclosures | ' | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
The hierarchy established under ASC 820-10, Fair Value Measures and Disclosures ("ASC 820-10") gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). As required by ASC 820-10, the Company's available-for-sale investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The three levels of the fair value hierarchy under ASC 820-10, and its applicability to the Company's available-for-sale investments, are described below: | ||||||||||||||||
Level 1 - Pricing inputs are quoted prices available in active markets for identical investments as of the reporting date. As required by ASC 820-10, the Company does not adjust the quoted price for these investments, even in situations where the Company holds a large position and a sale could reasonably impact the quoted price. | ||||||||||||||||
Level 2 - Pricing inputs are quoted prices for similar investments, or inputs that are observable, either directly or indirectly, for substantially the full term through corroboration with observable market data. Level 2 includes investments valued at quoted prices adjusted for legal or contractual restrictions specific to these investments. | ||||||||||||||||
Level 3 - Pricing inputs are unobservable for the investment, that is, inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability. Level 3 includes investments that are supported by little or no market activity. | ||||||||||||||||
Valuation Techniques | ||||||||||||||||
Fair value is a market-based measure considered from the perspective of a market participant who would buy the asset or assume the liability rather than the Company's own specific measure. All of the Company's fixed income securities are priced using a variety of daily data sources, largely readily-available market data and broker quotes. To validate these prices, the Company compares the fair market values of the Company's fixed income investments using market data from observable and corroborated sources. The Company also performs the fair value calculations for its common stock and mutual fund securities using market data from observable and corroborated sources. In periods of market inactivity, the observability of prices and inputs may be reduced for certain instruments. This condition could cause an instrument to be reclassified from Level 1 to Level 2 or from Level 2 to Level 3. During twelve months ended December 31, 2013, none of the Company's instruments were reclassified between Level 1, Level 2 or Level 3 and there have been no changes in valuation techniques. | ||||||||||||||||
The following table presents the financial instruments related to the Company's available-for-sale investments carried at fair value on a recurring basis as of December 31, 2013 and 2012 by ASC 820-10 valuation hierarchy (as defined above). | ||||||||||||||||
(in thousands) | Balance of December 31, 2013 | Level 1 | Level 2 | Level 3 | ||||||||||||
Cash and short term investments | $ | 927 | $ | 927 | $ | — | $ | — | ||||||||
Common Stock | ||||||||||||||||
Basic Materials | 14 | 14 | — | — | ||||||||||||
Consumer Goods | 97 | 97 | — | — | ||||||||||||
Energy | 65 | 65 | — | — | ||||||||||||
Financial | 111 | 111 | — | — | ||||||||||||
Healthcare | 104 | 104 | — | — | ||||||||||||
Industrial Goods | 109 | 109 | — | — | ||||||||||||
Services | 21 | 21 | — | — | ||||||||||||
Technology | 557 | 557 | — | — | ||||||||||||
Transportation | — | — | — | — | ||||||||||||
Utilities | 9 | 9 | — | — | ||||||||||||
Total Common Stock | 1,087 | 1,087 | — | — | ||||||||||||
Mutual Fund | ||||||||||||||||
Diversified Emerging Markets | 193 | — | 193 | — | ||||||||||||
Precious Metals Fund | — | — | — | — | ||||||||||||
Foreign Large Blend | 287 | — | 287 | — | ||||||||||||
Foreign Large Growth | 175 | — | 175 | — | ||||||||||||
Large Growth | 163 | — | 163 | — | ||||||||||||
Small Blend | 189 | 189 | — | — | ||||||||||||
Global High Yield Income Fund | 38 | — | 38 | — | ||||||||||||
Total Mutual Funds | 1,045 | 189 | 856 | — | ||||||||||||
Fixed Income | ||||||||||||||||
Domestic | 413 | — | 413 | — | ||||||||||||
International | 63 | — | 63 | — | ||||||||||||
Total Fixed Income | 476 | — | 476 | — | ||||||||||||
Total available for-sale-investments (1) | $ | 3,535 | $ | 2,203 | $ | 1,332 | $ | — | ||||||||
Percent of total | 100 | % | 62 | % | 38 | % | — | % | ||||||||
(in thousands) | Balance of December 31, 2012 | Level 1 | Level 2 | Level 3 | ||||||||||||
Cash and short term investments | $ | 32 | $ | 32 | $ | — | $ | — | ||||||||
Common Stock | ||||||||||||||||
Basic Materials | 15 | 15 | — | — | ||||||||||||
Consumer Goods | 58 | 58 | — | — | ||||||||||||
Financial | 61 | 61 | — | — | ||||||||||||
Healthcare | 52 | 52 | — | — | ||||||||||||
Industrial Goods | 51 | 51 | — | — | ||||||||||||
Services | 32 | 32 | — | — | ||||||||||||
Technology | 376 | 376 | — | — | ||||||||||||
Total Common Stock | 708 | 708 | — | — | ||||||||||||
Mutual Fund | ||||||||||||||||
Diversified Emerging Markets | 187 | — | 187 | — | ||||||||||||
Foreign Large Blend | 244 | — | 244 | — | ||||||||||||
Foreign Large Growth | 250 | — | 250 | — | ||||||||||||
Large Growth | 220 | — | 220 | — | ||||||||||||
Small Blend Total | 525 | 525 | — | — | ||||||||||||
Total Mutual Funds | 1,527 | 525 | 1,002 | — | ||||||||||||
Fixed Income | ||||||||||||||||
Domestic | 678 | — | 678 | — | ||||||||||||
International | 18 | — | 18 | — | ||||||||||||
Total Fixed Income | 696 | — | 696 | — | ||||||||||||
Total available for-sale-investments (1) | $ | 2,963 | $ | 1,265 | $ | 1,698 | $ | — | ||||||||
Percent of total | 100 | % | 43 | % | 57 | % | — | % | ||||||||
(1) | Changes in the fair value of available-for-sale investments are recorded in accumulated other comprehensive income, a component of stockholders' equity, in the Company's consolidated balance sheets. | |||||||||||||||
The carrying amounts reflected in the Company's consolidated balance sheets for cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses, and capital lease obligations approximates fair value due to their short-term nature and classifies the valuation techniques that use Level 3 inputs. The fair value of the Company's term loan and revolving lines of credit has been estimated by management based on the terms that it believes it could obtain in the current market for debt of the same terms and similar remaining maturities. Due to the short-term nature of the remaining maturities, recent issuances, frequency of amendments to its terms and the variable interest rates, the carrying value of the term loan and revolving lines of credit approximates fair value at December 31, 2013 and 2012 and the Company valuation techniques use Level 3 inputs. |
Sharebased_Compensation
Share-based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Stock based Compensation and Stock Option Plan [Abstract] | ' | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments | ' | ||||||||||||
Share–Based Compensation | |||||||||||||
The Company has recognized share-based compensation expense from continuing operations of approximately $100 thousand and $202 thousand for the years ended December 31, 2013 and 2012, respectively. The total non-cash, share-based compensation expense from continuing operations included in the consolidated statements of operations for the years ended is included in the following expense categories: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Cost of contract research, services | $ | 11 | $ | 20 | |||||||||
Cost of goods sold | 7 | 32 | |||||||||||
Administrative and selling | 82 | 150 | |||||||||||
Total share-based compensation | $ | 100 | $ | 202 | |||||||||
Share-based compensation expense from discontinued operations was zero and $(7) thousand for the years ended December 31, 2013 and 2012, respectively. No share-based compensation expense was capitalized during 2013 and 2012. Compensation expense related to stock options to be charged in future periods amounts to approximately $19 thousand at December 31, 2013 and will be recognized over a weighted-average period of 0.58 years as follows: | |||||||||||||
For the years ended December 31, | Expected | ||||||||||||
Compensation Expense | |||||||||||||
(in thousands) | |||||||||||||
2014 | $ | 19 | |||||||||||
$ | 19 | ||||||||||||
The Company estimates forfeitures at the time of grant and revises, if necessary, in subsequent periods if actual forfeitures differ from those estimates in order to derive the Company’s best estimate of awards ultimately expected to vest. Forfeitures represent only the unvested portion of a surrendered option and are typically estimated based on historical experience. | |||||||||||||
At December 31, 2013, the Company had outstanding options under two stock option plans: the 1996 Equity Incentive Plan (the “1996 Plan”) and the 2007 Stock Equity Plan (the “2007 Plan”, together the "Plans"). Both Plans were approved by stockholders and provided that the Board of Directors may grant options to purchase the Company’s common stock to key employees and directors of the Company. Incentive and non-qualified options must be granted at least at the fair market value of the common stock or, in the case of certain optionees, at 110% of such fair market value at the time of grant. The options may be exercised, subject to certain vesting requirements, for periods up to ten years from the date of issue. The 1996 Plan expired with respect to the issuance of new grants as of December 10, 2006. Accordingly, future grants may be made only under the 2007 Plan. | |||||||||||||
A summary of options outstanding under the Plans as of December 31, 2013 and changes during the twelve month period ended December 31, 2013 is as follows: | |||||||||||||
Number of Shares | Weighted | Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | ||||||||||
Average | |||||||||||||
Exercise Price | |||||||||||||
(in thousands) | |||||||||||||
Options outstanding at December 31, 2012 | 644,446 | $ | 6.21 | ||||||||||
Granted | 36,000 | $ | 0.5 | ||||||||||
Exercised | — | $ | — | ||||||||||
Cancelled/expired | (153,200 | ) | $ | 6.01 | |||||||||
Options outstanding at December 31, 2013 | 527,246 | $ | 5.88 | 5.2 | $ | 3 | |||||||
Options vested and exercisable at December 31, 2013 | 513,496 | $ | 5.92 | 5.16 | $ | 3 | |||||||
Options vested and expected to vest at December 31, 2013 | 526,771 | $ | 5.91 | 5.16 | $ | — | |||||||
Options available for future grant at December 31, 2013 | 478,759 | ||||||||||||
The aggregate intrinsic value in the table above represents the total intrinsic value, based on the Company’s closing stock price of $0.54 as of December 31, 2013, which would have been received by the option holders had all option holders exercised their options as of that date. The total intrinsic value of options exercised was approximately zero and zero for the years ended December 31, 2013 and 2012, respectively. The total intrinsic value of options expected to vest at December 31, 2013 was approximately zero, and the weighted average remaining contractual life of outstanding options that are expected to vest is 5.15 years. | |||||||||||||
The per-share weighted-average fair value of stock options granted was $0.50 and $1.78 for the years ended December 31, 2013 and 2012, respectively, on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: | |||||||||||||
Expected | Risk-Free | Expected | Expected | ||||||||||
Year | Dividend Yield | Interest Rate | Option Life | Volatility Factor | |||||||||
2013 | — | 1.08 | % | 5.10 years | 106.4 | % | |||||||
2012 | — | 0.71 | % | 5.10 years | 93.3 | % | |||||||
The risk free interest rate reflects treasury yields rates over a term that approximates the expected option life. The expected option life is calculated based on historical lives of all options issued under the Plans. The expected volatility factor is determined by measuring the actual stock price volatility over a term equal to the expected useful life of the options granted. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Notes) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accumulated Other Comprehensive Income [Abstract] | ' | |||
Comprehensive Income (Loss) Note | ' | |||
Accumulated Other Comprehensive Income | ||||
Changes in accumulated other comprehensive income balances by component for the year ended December 31, 2013 consist of the following: | ||||
(in thousands) | Unrealized Gains (Losses) on Available for Sale Securities | |||
Balance, December 31, 2012 | $ | 222 | ||
Other comprehensive income before reclassification | 467 | |||
Amounts reclassified from accumulated other comprehensive income | (296 | ) | ||
Net current-period change in other comprehensive income | 171 | |||
Balance, December 31, 2013 | $ | 393 | ||
Reporting reclassifications out of accumulated other comprehensive income for the year ended December 31, 2013 consist of the following: | ||||
Details about Accumulated Other Comprehensive Income Components | Amount Reclassified from Accumulated Other Comprehensive Income (in thousands) | Affected Line Item in the Statement Where Net Income is Resented | ||
Realized gains on available-for-sale investments | (296 | ) | Selling, general and administrative expenses |
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Income Tax Disclosure | ' | |||||||
Income Taxes | ||||||||
The Company recorded a net income tax benefit of $2 thousand and $3 thousand for the years ended December 31, 2013 and 2012, respectively. The Company recorded a tax benefit on the loss from continuing operations of $2 thousand and $2.0 million for the years ended December 31, 2013 and 2012, respectively, which was offset by a provision on the income from discontinued operations of zero and $1.9 million for the years ended December 31, 2013 and 2012, respectively. The discontinued operations is associated with the sale of the Company's Semiconductor Business Unit and Medical Products Business Unit. See Note 18 to the consolidated financial statements. The loss generated from continuing operations for the year ended December 31, 2013, was offset by a taxable gain recognized on the sale of the Bio Business Unit to N2 Bio. As mentioned in Note 19, since this transaction was a sale between entities under common control, no gain was recognized for financial reporting purposes. | ||||||||
The reconciliation between the amount computed by applying the United States federal statutory tax rate of 34% to pretax income (loss) and the actual benefit (provision) for income taxes follows: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Income tax benefit (provision) – continuing operations at statutory rate | $ | (2,872 | ) | $ | 2,289 | |||
Increase in valuation allowance related to income tax expense | 161 | (461 | ) | |||||
State income tax benefit | 34 | 211 | ||||||
Taxable gain on sale between entities under common control | 2,619 | — | ||||||
Other | 60 | (88 | ) | |||||
Income tax benefit – continuing operations | 2 | 1,951 | ||||||
Income tax provision – discontinued operations at statutory rate | — | (1,656 | ) | |||||
State income taxes – discontinued operations | — | (292 | ) | |||||
Income tax provision – discontinued operations | — | (1,948 | ) | |||||
Total income tax benefit (provision) | $ | 2 | $ | 3 | ||||
The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are as follows: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Deferred tax assets: | ||||||||
Accruals | $ | 1,997 | $ | 1,992 | ||||
Inventories | 420 | 365 | ||||||
Other | 477 | — | ||||||
Net operating loss carryforwards | 4,733 | 4,705 | ||||||
General business credit carryforwards | 388 | 403 | ||||||
Alternative minimum tax credit carryforwards | 268 | 268 | ||||||
Foreign tax credit | — | 38 | ||||||
Total gross deferred tax assets | 8,283 | 7,771 | ||||||
Prepaid expenses | (294 | ) | (251 | ) | ||||
Depreciation | 215 | 130 | ||||||
Amortization | (53 | ) | (79 | ) | ||||
Total gross deferred tax liabilities | (132 | ) | (200 | ) | ||||
Valuation allowance | (8,151 | ) | (7,571 | ) | ||||
Net deferred tax assets | $ | — | $ | — | ||||
The net change in the total valuation allowance for the period ended December 31, 2013 was an increase of $580 thousand. Federal and state net operating loss carryforwards were approximately $13.9 million and $7.3 million, respectively, as of December 31, 2013. The federal net operating loss carryforwards will expire at various times starting in 2026 through 2033, if not utilized. The state net operating loss carryforwards will expire at various times starting in 2014 through 2033, if not utilized. Included in the Federal net operating loss carryforwards were approximately $3.5 million attributable to equity based compensation transactions. Approximately $1.0 million of the valuation allowance will be relieved through equity if these deductions for equity based transactions are realized. Under Section 382 of the Internal Revenue Code, certain substantial changes in the Company’s ownership may limit the amount of net operating loss carryforwards that can be utilized in any one year to offset future taxable income. | ||||||||
The tax years of 2010 through 2013 remain open to examination by major taxing jurisdictions to which the Company is subject. In addition, because the Company has net operating loss carryforwards for the years ended December 31, 2006, 2007 and 2009, the Internal Revenue Service and the state taxing authorities are permitted to audit those earlier years and propose adjustments up to the amount of net operating loss generated. The Company is currently not under examination by the Internal Revenue Service or any other jurisdiction for any tax years. At December 31, 2013, the Company does not have any uncertain tax positions, unrecognized tax benefits and did not recognize any interest or penalties. The Company does not expect there to be a change in unrecognized tax benefits over the next twelve months. |
Commitments
Commitments | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Commitments [Abstract] | ' | |||||||||||
Commitments Disclosure [Text Block] | ' | |||||||||||
Commitments | ||||||||||||
Letters of Credit | ||||||||||||
Outstanding letters of credit totaled $170 thousand and $675 thousand at December 31, 2013 and 2012, respectively. The letters of credit secure performance obligations and purchase commitments, and allow holders to draw funds up to the face amount of the letter of credit if the Company does not perform as contractually required. The outstanding letters of credit at December 31, 2013 were secured by restricted cash. The outstanding letters of credit at December 31, 2012 were secured by the Revolving Credit Facility and Ex-Im Facility. | ||||||||||||
Purchase Obligations | ||||||||||||
Included in purchase obligations are raw materials, equipment and services needed to fulfill customer orders. During the normal course of business, in order to manage manufacturing lead times and help assure an adequate supply, the Company enters into agreements with suppliers that either allow the Company to procure goods and services when it chooses or that establish purchase requirements. In certain instances, the agreements with purchase requirements allow the Company the option to cancel, reschedule, or adjust its requirements based on the Company's business needs prior to firm orders being placed. Consequently, only a portion of the Company's purchase obligations are firm, non-cancelable and unconditional. At December 31, 2013, the Company's obligations under firm, non-cancelable, and unconditional agreements were $516 thousand, of which, $510 thousand of the Company's purchase obligations are due in 2014. | ||||||||||||
Property Under Capital Leases and Lease Commitments | ||||||||||||
At December 31, 2013 and 2012, the Company including the variable interest entity, N2 Bio, had operating and capital leases for office space and office equipment. At December 31, 2013, future minimum lease payments for the period ended are as follows: | ||||||||||||
(in thousands) | Unrelated Party Operating Leases | Related Party Operating Leases | Unrelated Party Capital Leases | |||||||||
2014 | $ | 63 | $ | 2,386 | $ | 8 | ||||||
2015 | 16 | 2,458 | — | |||||||||
2016 | 12 | 2,530 | — | |||||||||
2017 | 1 | 2,421 | — | |||||||||
2018 | — | 502 | — | |||||||||
Thereafter | — | 998 | — | |||||||||
Total minimum lease payments | $ | 92 | $ | 11,295 | 8 | |||||||
Less: amounts represented by interest | — | |||||||||||
Present value of monthly lease payments | 8 | |||||||||||
Less: current portion of unrelated party capital lease obligation | (8 | ) | ||||||||||
Long-term portion of unrelated party capital lease obligation | $ | — | ||||||||||
Unrelated Party Capital Lease | ||||||||||||
In August 2009 the Company entered into a lease for information technology storage equipment whereby the Company agreed to pay $73 thousand over a five year term expiring in July 2014. The lease agreement did not provide for a transfer of ownership at any point. Interest costs were assumed at 11%. Interest expense was approximately $2 thousand and $3 thousand for the year ended December 31, 2013 and 2012, respectively. This lease was classified as a unrelated party capital lease. | ||||||||||||
In September 2009 the Company entered into a lease for information technology storage equipment whereby the Company agreed to pay $120 thousand over a three year term expiring in August 2012. The lease agreement did not provide for a transfer of ownership at any point. Interest costs were assumed at 13%. Interest expense was approximately $1 thousand for the year ended December 31, 2012. This lease was classified as a unrelated party capital lease. | ||||||||||||
Unrelated Party Operating Leases | ||||||||||||
Unrelated party operating leases expire at various times thru 2017 and primarily consist of leases for automobiles and office equipment. | ||||||||||||
Related Party Operating Lease | ||||||||||||
On November 30, 2007, the Company entered into a new Lease Agreement (the “Bedford Lease”) with SPI-Trust, a Trust of which Roger G. Little, Chairman of the Board of the Company, is the sole trustee and principal beneficiary, with respect to 144 thousand square feet of space comprising the entire building in which the Company has occupied space since December 1, 1985. The term of the Bedford Lease commenced on December 1, 2007 and was originally set to expire on November 30, 2012. The annual rental rate for the first year of the Bedford Lease was $12.50 per square foot on a triple net basis, whereby the tenant is responsible for operating expenses, taxes and maintenance of the building. The annual rental rate increased on each anniversary by $0.75 per square foot. | ||||||||||||
On September 17, 2010, the Company entered into the First Amendment to Lease Agreement with SPI-Trust to amend the Bedford Lease. The term of the Bedford Lease was extended for an additional 5 years to expire on November 30, 2017. The annual rental rate for the first year of the extended term (December 1, 2012 through November 30, 2013) is $16.00 per square foot on a triple net basis, whereby the tenant is responsible for operating expenses, taxes and maintenance of the building. After the first year of the extended term of the Bedford Lease, the annual rental rate increases on each anniversary by $0.50 per square foot. The Company has the right to further extend the term of the Bedford Lease for an additional 5 years. If the Company exercises this right to further extend the term of the Bedford Lease, the annual rental rate for the first year of the further extended term will be the greater of: (a) the rental rate in effect immediately preceding the commencement of the extended term; or (b) the market rate at such time, and on each anniversary of the commencement of the extended term the rental rate will increase by $0.50 per square foot. Additionally, SPI-Trust agreed to reimburse the Company up to $50 thousand for all costs incurred by the Company in connection with any alterations or improvements to the premises or repairs or replacements to the heating and air conditioning systems. | ||||||||||||
On September 18, 2013, the Company entered into the Second Amendment to Lease Agreement with SPI-Trust to amend the Bedford Lease. The leased portion of the premises and annual base rent in Bedford, Massachusetts was reduced by approximately 19%. All other material terms and conditions related to the lease remain unchanged as of such date. The Company believes that the terms of the Bedford Lease, as amended, are commercially reasonable. Rent expense from continuing operations under the Bedford Lease was $2.2 million and $2.3 million for the years ended December 31, 2013 and 2012, respectively. | ||||||||||||
On September 18, 2013, N2 Bio entered into a Lease Agreement (the “N2 Bio Bedford Lease”) with SPI-Trust with respect to 27 thousand square feet of space in the premises in Bedford, Massachusetts. The term of the N2 Bio Bedford Lease commenced on September 18, 2013 and is set to expire on November 30, 2020. The annual rental rate prorated for September 18, 2013 to November 30, 2013 is $16.00 per square foot on a triple net basis, whereby the tenant is responsible for operating expenses, taxes and maintenance of the building. The annual rental rate increases on December 1, 2013 and each anniversary thereafter by $0.50 per square foot. The Company believes that the terms of the N2 Bio Bedford Lease are commercially reasonable. Rent expense under the N2 Bio Bedford Lease was $137 thousand for year ended December 31, 2013. | ||||||||||||
On August 29, 2008, the Company entered into a new Lease Agreement (the “Hudson Lease”) with SPI-Trust, with respect to 90 thousand square feet of space comprising the entire building in which Spire Semiconductor has occupied space since June 1, 2003. The term of the Hudson Lease commenced on September 1, 2008, and was to continue for 7 years until August 31, 2015. The annual rental rate for the first year of the Hudson Lease was $12.50 per square foot on a triple-net basis, whereby the tenant was responsible for operating expenses, taxes and maintenance of the building. The annual rental rate increased on each anniversary by $0.75 per square foot. In addition, the Company was required to deposit with SPI-Trust $300 thousand as security for performance by the Company for its covenants and obligations under the Hudson Lease. SPI-Trust is responsible, at its sole expense, to make certain defined tenant improvements to the building. The Company believes that the terms of the Hudson Lease were commercially reasonable and reflective of market rates. The Hudson Lease was classified as a related party operating lease. Rent expense from continuing operations under the Hudson Lease was zero and $119 thousand for the years ended December 31, 2013 and 2012, respectively. Rent expense from discontinued operations under the Hudson Lease was zero and $134 thousand for the years ended December 31, 2013 and 2012, respectively. In connection with sale of the Semiconductor Business Unit, the lease was terminated on March 9, 2012 and the Company was released from all future obligations under the lease as of such date. The security deposit of $300 thousand was used to off-set rent payments in the first quarter of 2012. See Note 17 to the consolidated financial statements. |
Employee_Benefit_Plans_Notes
Employee Benefit Plans (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Profit Sharing Plans [Abstract] | ' |
Compensation and Employee Benefit Plans | ' |
Employee Benefit Plans | |
Profit Sharing Plan | |
In 1985, the Company adopted a profit sharing plan under Section 401(k) of the Internal Revenue Code. This plan allows employees to defer up to 17.5% of their income up to certain dollar limits on a pretax basis through contributions to the plan. The Company began discretionary matching contributions starting September 2008. The Company’s matching contributions were approximately $174 thousand and $155 thousand for the year ended December 31, 2013 and 2012, respectively. | |
Deferred Compensation Plan | |
Effective January 1, 2002, the Company adopted the Spire Corporation Non-Qualified Deferred Compensation Plan (the “Plan”) for Roger Little, Chairman of the Board, Chief Executive Officer and President of the Company (the “Participant”). Under this Plan, the Company makes equal monthly contributions to the Spire Corporation Non-Qualified Deferred Compensation Trust (the “Trust”) up to the annually required amount of $250 thousand. The Company records these contributions as selling, general and administrative expense when made. The Trustee makes all investment decisions for the Trust on behalf of the Participant. The Company has not guaranteed a return on investment for the Participant, however, all earnings and losses on the Plan assets are borne by the Participant. All contributions and earnings are fully vested to the Participant when made but are subject to the Company’s creditors in the event of bankruptcy. As a result, the assets held in the Plan have been recorded as available-for-sale investments in the consolidated balance sheets with a corresponding liability being recorded as deferred compensation. Unrealized gains and losses on the available-for-sale investments are recorded as accumulated other comprehensive income within the equity section of the consolidated balance sheets. A corresponding entry to deferred compensation is made to increase (decrease) the amounts due the Participant resulting from the changes in the asset value with an offsetting charge or credit to selling, general and administrative expense. | |
On November 17, 2011, the Compensation Committee of the Board of Directors of the Company approved an amendment to the Plan for the Participant to permit the Participant to elect, subject to Compensation Committee approval, to receive all or any part of the deferred portion of the Participant's compensation under the Plan in shares of the Company's common stock in lieu of cash. The number of shares to be issued in lieu of such deferred compensation shall be equal to the dollar amount that would otherwise be credited to the Plan divided by the closing sale price per share of common stock on the date on which the Compensation Committee approves the Participant's election. The shares shall be issued under, and be subject to the terms, conditions and limitations of, the Company's 2007 Stock Equity Plan (the “2007 Plan”). The Plan permits one election to be made with respect to accumulated deferred compensation for 2010 and 2011 and, commencing in 2012, elections shall be made on a quarterly basis. All such elections shall be subject to and be contingent upon approval of the Compensation Committee. On November 17, 2011, the Participant elected to receive aggregate accumulated deferred compensation of $500 thousand for 2010 and 2011 in shares of common stock (and the Compensation Committee approved such election), which, based on the closing sale price of the Company's common stock on such date ($0.78), is equal to approximately 641,025 shares. On June 21, 2012, the Participant elected to receive aggregate accumulated deferred compensation of $63 thousand for the third quarter of 2012 in shares of common stock (and the Compensation Committee approved such election), which, based on the closing sale price of the Company's common stock on such date ($0.69), is equal to approximately 90,580 shares. On August 16, 2012, the Participant elected to receive aggregate accumulated deferred compensation of $63 thousand for the fourth quarter of 2012 in shares of common stock (and the Compensation Committee approved such election), which, based on the closing sale price of the Company's common stock on such date ($0.55), is equal to approximately 113,636 shares. Because of limitations on awards under the 2007 Plan, the Trust was issued 500,000 of such shares, valued at approximately $384 thousand and issued 145,242 of such shares, valued at approximately $84 thousand, in 2012 and 2013, respectively. Compensation expense from continuing operations was approximately $250 thousand and $250 thousand in the years ended December 31, 2013 and 2012, respectively. Accrued compensation expense related to the Plan was $375 thousand and $209 thousand at December 31, 2013 and 2012, respectively. The Participant retired as Chief Executive Officer and President of the Company on December 31, 2013. The Participant received a partial deferred compensation payment of approximately $1.2 million in January 2014 and has the ability to receive the remaining deferred compensation balance on July 1, 2014. The deferred compensation balance at December 31, 2013 is classified in total current liabilities and the corresponding assets that would be used to settle the obligation are classified in total current assets. |
Loss_Per_Share
Loss Per Share | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Income (loss) Per Share [Abstract] | ' | |||||
Earnings Per Share | ' | |||||
Loss Per Share | ||||||
The following table provides a reconciliation of the denominators of the Company’s reported basic and diluted loss per share computations for the years ended December 31: | ||||||
2013 | 2012 | |||||
Weighted average number of common and common | 9,176,438 | 8,579,027 | ||||
equivalent shares outstanding – basic | ||||||
Add: Net additional common shares upon assumed | — | — | ||||
exercise of common stock options | ||||||
Weighted average number of common and common | 9,176,438 | 8,579,027 | ||||
equivalent shares outstanding – diluted | ||||||
For the years ended December 31, 2013 and 2012, 4,842 and 1,490 shares of common stock, respectively, issuable relative to stock options were excluded from the calculation of diluted shares because their inclusion would have been anti-dilutive, due to the Company's net loss position. | ||||||
In addition, for the years ended December 31, 2013 and 2012, 485,246 and 624,446 shares of common stock, respectively, issuable relative to stock options were excluded from the calculation of diluted shares because their inclusion would have been anti-dilutive, due to the Company's exercise prices exceeding the average market price of the stock for the period. |
Legal_Matters
Legal Matters | 12 Months Ended |
Dec. 31, 2013 | |
Legal Matters [Abstract] | ' |
Legal Matters and Contingencies | ' |
Legal Matters | |
From time to time, the Company is subject to legal proceedings and claims arising from the conduct of its business operations. | |
On February 4, 2011, Silicon International Ltd. ("SI") filed a complaint in Suffolk Superior Court in Massachusetts, and on February 11, 2011 served a summons, against the Company alleging breach of contract related to SI's activities acting as a former sales and service representative of the Company within China. The complaint makes claims regarding amounts allegedly owed to SI by the Company, specifically with regard to allegedly owed commissions. SI is seeking payment of commissions allegedly owed to it. The Company filed its answer and counterclaims against SI on February 24, 2011, denying SI's allegations, and claiming that SI interfered in the Company's business relationships and generally engaged in multiple breaches of contract against the Company. In January 2013, both parties filed formal opposition to the opposing parties' motion to dismiss various claims and allegations. In July 2013, the court denied the Company's motion and allowed in part and denied in part the plaintiff's motion. A trial date has been scheduled for April 2014. The ultimate outcome of this legal matter cannot be predicted with certainty, based on current information, including the Company's assessment of the merits of the particular claim. It is not possible at this time to provide meaningful estimates as to amount or range of potential loss, but the Company does not expect that these legal proceedings or claims will have any material adverse affect on the Company's future results of operations, financial position or cash flows. | |
On December 10, 2013, Stifel, Nicolaus & Company, Inc. (“Stifel”) filed a complaint in the Southern District of New York Court, and on December 18, 2013, served a summons, against the Company alleging breach of contract related to Stifel’s activities acting as an investment banker for the Company. The complaint makes claims regarding amounts allegedly owed to Stifel by the Company, specifically with regard to allegedly owed fees for certain advisory services which amounts have been provided for. On December 12, 2013, the Company filed a complaint in Middlesex Superior Court in Massachusetts, and on December 31, 2013, served a summons against Stifel alleging breach of contract related to Stifel’s activities acting as an investment banker for the Company. The Company’s complaint makes claims regarding Stifel providing certain advisory services to the Company. The ultimate outcome of this legal matter cannot be predicted with certainty, based on current information, including the Company’s assessment of the merits of the particular claim. It is not possible at this time to provide meaningful estimates as to amount or range of potential loss, but the Company does not expect that these legal proceedings or claims will have any material adverse effect on the Company’s future results of operations, financial position or cash flows. | |
The Company is not aware of any other current or pending legal proceedings to which it is or may be a party that it believes could materially adversely affect its results of operations or financial condition or cash flows. |
Operating_Segments_and_Related
Operating Segments and Related Information | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Operating Segments and Related Information [Abstract] | ' | |||||||||||||||
Segment Reporting Disclosure | ' | |||||||||||||||
Operating Segments and Related Information | ||||||||||||||||
The Company's operations are focused on two primary business areas: Spire Solar (comprised of solar equipment, solar systems and solar research) and Spire Biomedical (comprised of biomedical surface treatments and biophotonics research). Spire Solar and Spire Biomedical operate out of the Company's facility in Bedford, Massachusetts. Each business area is independently managed and has separate financial results that are reviewed by the Board of Directors and Chief Executive Officer and the chief executive officers of each operating division. | ||||||||||||||||
On September 18, 2013, the Company completed the sale of the Bio Business Unit to N2 Bio, whereas, the Company has a controlling financial interest in N2 Bio and is less than wholly-owned by the Company. N2 Bio qualifies as a variable interest entity and the Company is determined to be the primary beneficiary, therefore assets, liabilities and results of operations of N2 Bio are consolidated into the Company's financial statements. The Bio Business Unit is being reported in our biomedical segment. See Note 19 to the consolidated financial statements. | ||||||||||||||||
During the first quarter of 2012, the Company began pursuing an exclusive sales process of our semiconductor business and on March 9, 2012, the Company completed the sale of the Semiconductor Business Unit to Masimo Corporation. The Company reported the Semiconductor Business Unit as discontinued operations beginning with our financial results presented in our Quarterly Report on Form 10-Q for the first quarter of fiscal 2012. The Semiconductor Business Unit was previously reported as our optoelectronics segment. Accordingly, the results of operations and assets and liabilities of the Semiconductor Business Unit are being presented herein as discontinued operations and are not included in the table below. See Note 18 to the consolidated financial statements. | ||||||||||||||||
During the second quarter of 2009, the Company began pursuing an exclusive sales process of our medical products business and, on December 14, 2009, the Company completed the sale the Medical Products Business Unit to Bard Access Systems, Inc. The Company reported the Medical Products Business Unit as discontinued operations beginning with our financial results presented in our Quarterly Report on Form 10-Q for the second quarter of fiscal 2009. The Medical Products Business Unit was previously part of our biomedical segment. Accordingly, the results of operations and liabilities of the Medical Products Business Unit are being presented herein as discontinued operations and are not included in the table below. See Note 18 to the consolidated financial statements. | ||||||||||||||||
The following table presents certain continuing operating division information in accordance with the provisions of ASC 280, Segment Reporting. | ||||||||||||||||
(in thousands) | Spire | Spire | Corporate | Total | ||||||||||||
Solar | Biomedical | Company | ||||||||||||||
December 31, 2013 | ||||||||||||||||
Net sales and revenues | $ | 7,651 | $ | 6,930 | $ | — | $ | 14,581 | ||||||||
Operating loss from continuing operations | (8,297 | ) | (79 | ) | — | (8,376 | ) | |||||||||
Total assets | 6,354 | 1,560 | 8,155 | 16,069 | ||||||||||||
Purchase of property and equipment | 16 | 103 | 20 | 139 | ||||||||||||
Depreciation and amortization | 213 | 162 | 134 | 509 | ||||||||||||
Share-based compensation | 21 | 24 | 55 | 100 | ||||||||||||
Spire | Spire | Corporate | Total | |||||||||||||
Solar | Biomedical | Company | ||||||||||||||
December 31, 2012 | ||||||||||||||||
Net sales and revenues | $ | 15,255 | $ | 6,855 | $ | — | $ | 22,110 | ||||||||
Operating income (loss) from continuing operations | (7,280 | ) | 677 | — | (6,603 | ) | ||||||||||
Total assets | 7,757 | 1,499 | 6,651 | 15,907 | ||||||||||||
Purchase of property and equipment | 83 | 8 | 52 | 143 | ||||||||||||
Depreciation and amortization | 369 | 208 | 227 | 804 | ||||||||||||
Share-based compensation | 61 | 43 | 98 | 202 | ||||||||||||
Operating income (loss) from continuing operations is net sales less cost of sales, selling, general and administrative expenses and gain on termination of contracts, but is not affected by non-operating income (expense), by income taxes or by net income (loss) from discontinued operations. In calculating operating income (loss) from continuing operations for individual business units, substantial administrative expenses incurred at the operating level that are common to more than one segment are allocated on a net sales basis. Certain corporate expenses of an operational nature are also allocated to the divisions based on factors including occupancy, employment, and purchasing volume. All intercompany transactions have been eliminated. | ||||||||||||||||
The following table shows net sales and revenues by geographic area (based on customer location) for the years ended December 31: | ||||||||||||||||
(in thousands) | 2013 | % | 2012 | % | ||||||||||||
United States | $ | 9,651 | 66 | % | $ | 10,436 | 47 | % | ||||||||
Asia | 2,491 | 17 | % | 7,971 | 36 | % | ||||||||||
Europe / Africa | 2,194 | 15 | % | 3,628 | 17 | % | ||||||||||
Rest of the world | 245 | 2 | % | 75 | — | % | ||||||||||
$ | 14,581 | 100 | % | $ | 22,110 | 100 | % | |||||||||
Revenues from contracts with United States government agencies for 2013 and 2012 were approximately $707 thousand and $1.8 million, or 5% and 8% of consolidated net sales and revenues, respectively. | ||||||||||||||||
Revenues from the delivery of biomedical services to Stryker Orthopedics and Biomet, Inc. accounted for 20% and 12% , respectively, of total net sales and revenues for 2013. | ||||||||||||||||
Revenues from the delivery of biomedical services to Stryker Orthopedics and revenues from the delivery of solar equipment to First Solar, Inc. accounted for 14% and 12% , respectively, of total net sales and revenues for 2012. | ||||||||||||||||
Two customers represented approximately 36% and 17% of net accounts receivable, trade at December 31, 2013 and one customer represented approximately 24% of net accounts receivable, trade at December 31, 2012. | ||||||||||||||||
There were no foreign countries that accounted for more than 10% of sales in 2013. Republic of India was the only foreign country that accounted for more than 10% of sales in 2012. Net sales to customers in Republic of India accounted for $2.8 million in 2012. |
Gain_on_Termination_of_Contrac
Gain on Termination of Contracts | 12 Months Ended |
Dec. 31, 2013 | |
Gain on Termination of Contracts [Abstract] | ' |
Gain on Termination of Contracts | ' |
Gain on Termination of Contracts | |
In the fourth quarter of 2012, the Company determined that a purchase and sale agreement, as amended, with Evergreen Solar Systems India (P) Ltd. ("Evergreen") related to a module manufacturing line expansion was terminated due to a breach of contract by Evergreen. Evergreen had failed to make payments as required by the agreement and has not responded to numerous communications by the Company. In the fourth quarter of 2012, the Company recognized a gain on termination of contracts of $35 thousand which relates to Evergreen's non-refundable deposit. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Discontinued Operations and Assets Held for Sale [Abstract] | ' | |||||||
Disposal Groups, Including Discontinued Operations, Disclosure | ' | |||||||
Discontinued Operations | ||||||||
The accompanying audited consolidated balance sheets, statements of operations and cash flows present the results of operations and assets and liabilities of the Semiconductor Business Unit and the results of operations and liabilities of the Medical Products Business Unit as discontinued operations. | ||||||||
Sale of Medical Products Business Unit | ||||||||
On December 14, 2009, the Company completed the sale of its medical products business unit, which developed and marketed coated and uncoated hemodialysis catheters and related devices for the treatment of chronic kidney disease (the “Medical Products Business Unit”), to Bard Access Systems, Inc. (“Bard”). Accordingly, the liabilities of the Medical Products Business Unit are being presented herein as discontinued operations. | ||||||||
The company recorded a loss from discontinued operations before the sale of the Medical Product Business Unit of zero and $150 thousand for the twelve months ended December 31, 2013 and 2012, respectively. | ||||||||
Sale of Semiconductor Business Unit | ||||||||
During the first quarter of 2012, the Company began pursuing an exclusive sales process of the Company's Semiconductor Business Unit. The Company (i) determined that the Semiconductor Business Unit was a separate component of the Company's business as, historically, management reviewed separately the Semiconductor Business Unit's financial results apart from the Company's ongoing continuing operations, (ii) eliminated the Semiconductor Business Unit's financial results from ongoing operations and (iii) determined that the Company will have no further continuing involvement in the operations of the Semiconductor Business Unit or cash flows from the Semiconductor Business Unit after the sale. | ||||||||
On March 9, 2012, the Company completed the sale of the Semiconductor Business Unit to Masimo. The asset purchase agreement provided that the aggregate purchase price for the Semiconductor Business Unit was $8.0 million plus the assumption of $500 thousand in liabilities, with the cash portion of the purchase price being reduced by retained cash, accounts receivable and liabilities assumed by Masimo in excess of the agreed upon assumed liabilities. As a result, in the first quarter of 2012 the Company received approximately $7.3 million in cash (less the escrow described below) and incurred legal and transaction related fees of $425 thousand and Masimo assumed approximately $1.2 million in liabilities. Of the purchase price, approximately $718 thousand was deposited into an indemnity escrow account for fifteen months to partially secure the Company's obligations for any indemnity claims under the asset purchase agreement. There were no indemnity claims related to the asset purchase agreement and the Company received full payment from the indemnity escrow account in June 2013. In connection with this transaction, the lease for the premises in Hudson, New Hampshire where the Semiconductor Business Unit was located, was terminated on March 9, 2012, and the Company was released from all future obligations under the lease as of such date. | ||||||||
The company recorded a loss from discontinued operations before the sale of the Semiconductor Business Unit of $430 thousand for the twelve months ended December 31, 2012. | ||||||||
Summarized Financial Information of the Discontinued Operations | ||||||||
The assets and liabilities of the Semiconductor Business Unit and the liabilities of the Medical Products Business Unit as of December 31, 2013 and 2012 are as follows: | ||||||||
(in thousands) | December 31, 2013 | December 31, 2012 | ||||||
Assets | ||||||||
Current Assets | ||||||||
Restricted cash | $ | — | $ | 718 | ||||
Total current assets of discontinued operations | — | 718 | ||||||
Total Assets of discontinued operations | $ | — | $ | 718 | ||||
Liabilities of Discontinued Operations | ||||||||
Current liabilities of discontinued operations | ||||||||
Accrued liabilities | $ | 21 | $ | 171 | ||||
Total current liabilities of discontinued operations | 21 | 171 | ||||||
Total liabilities of discontinued operations | $ | 21 | $ | 171 | ||||
Condensed results of operations relating to the Medical Products Business Unit and the Semiconductor Business Unit for the year ended December 31, 2013 and 2012 are as follows: | ||||||||
Year Ended December 31, | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Net sales and revenues | $ | — | $ | 425 | ||||
Gross margin | $ | — | $ | (296 | ) | |||
Loss from discontinued operations before sale of business unit | $ | — | $ | (580 | ) | |||
Gain on sale of business unit, net of transaction expenses | — | 5,449 | ||||||
Income tax provision | — | (1,948 | ) | |||||
Net income from discontinued operations, net of tax | $ | — | $ | 2,921 | ||||
Variable_Interest_Entity_Notes
Variable Interest Entity (Notes) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Noncontrolling Interest [Abstract] | ' | |||
Variable Interest Entity | ' | |||
Variable Interest Entity | ||||
The Company has interests in N2 Bio which is a variable interest entity (“VIE”). A VIE is an entity that lacks one or more of the following characteristics (i) the total equity investment at risk is sufficient to enable the entity to finance its activities independently and (ii) the equity holders have the power to direct the activities of the entity that most significantly impact its economic performance, the obligation to absorb the losses of the entity and the right to receive the residual returns of the entity. If the Company is the primary beneficiary of a VIE, the Company is required to consolidate it. To determine if the Company is the primary beneficiary, the Company evaluates whether the Company has the power to direct the activities that most significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. The Company's evaluation includes identification of significant activities and an assessment of the Company's ability to direct those activities based on governance provisions and arrangements to provide or receive product and process technology, product supply, operations services, equity funding, financing and other applicable agreements and circumstances. The Company's assessments of whether the Company is the primary beneficiary of its VIE require significant assumptions and judgments and are reviewed on an ongoing basis based on current facts and circumstances. | ||||
On September 18, 2013, the Company, Spire Biomedical, Inc. (the “Subsidiary” and together with the Company, “Spire Bio”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with N2 Biomedical LLC (“N2 Bio”) pursuant to which N2 Bio agreed to (i) acquire substantially all of the assets of Spire Bio's biomedical business (the “Bio Business Unit”) and (ii) assume and pay certain liabilities related to the purchased assets as set forth in the Purchase Agreement (collectively, the “Transaction”). The Transaction closed on September 18, 2013. The purchase price for the Bio Business Unit was $10.5 million plus the assumption of liabilities of approximately $100 thousand, with $6.0 million paid in cash at closing, a $2.4 million subordinated convertible promissory note, and 310,549 Series A Convertible Preferred Units of N2 Bio valued at approximately $2.1 million ($6.72 per share). The assets and liabilities of the Subsidiary's biomedical business are under common control and were recorded at carryover basis for financial reporting. The difference between the consideration paid and the carrying value of the assets and liabilities acquired by N2 Bio was recorded as a deemed dividend to the Company in the amount of $9.5 million and has been eliminated in consolidation. Mark C. Little was the Chief Executive Officer of the Subsidiary, is a director of the Company and is the Chief Executive Officer of N2 Bio. Mark C. Little is the son of Roger G. Little, Chief Executive Officer of the Company. Roger G. Little is also a member of the Board of Directors of N2 Bio. | ||||
On September 18, 2013, N2 Bio entered into a Lease Agreement (the “N2 Bio Bedford Lease”) with SPI-Trust with respect to 27 thousand square feet of space which represents approximately 19% of space in the Bedford, Massachusetts premises. The term of the N2 Bio Bedford Lease commenced on September 18, 2013 and is set to expire on November 30, 2020. The annual rental rate prorated for September 18, 2013 to November 30, 2013 is $16.00 per square foot on a triple net basis, whereby the tenant is responsible for operating expenses, taxes and maintenance of the building. The annual rental rate increases on December 1, 2013 and each anniversary thereafter by $0.50 per square foot. | ||||
The Company has determined that N2 Bio is a VIE because the equity investment at risk from the majority shareholders of N2 Bio is not sufficient to permit N2 Bio to finance its activities without additional subordinated financial support. As discussed above, N2 Bio is subject to a subordinated convertible promissory note due to the Company. Additionally, Mark Little is the Chief Executive Officer of N2 Bio and also a member the Company's Board of Directors. The Company has also determined that the Company has the obligation to absorb losses and the right to receive benefits from N2 Bio that could potentially be significant to it. Therefore, the Company has determined that N2 Bio is a VIE and that the Company is a primary beneficiary of the VIE and must consolidate the financial condition, results of operations and cash flows of N2 Bio with those of its own. | ||||
The assets and liabilities with carryover basis as noted above from the VIE included in the audited consolidated balance sheet as of December 31, 2013 are as follows: | ||||
(in thousands) | December 31, 2013 | |||
Assets of VIE | ||||
Current Assets | ||||
Cash and cash equivalents | $ | 131 | ||
Accounts receivable trade, net | 899 | |||
Due from related parties | 24 | |||
Inventories, net | 22 | |||
Prepaid expenses and other current assets | 114 | |||
Total current assets of VIE | 1,190 | |||
Property and equipment, net | 266 | |||
Intangible & other assets, net | 85 | |||
Total assets of VIE | $ | 1,541 | ||
Liabilities of VIE | ||||
Current liabilities | ||||
Current portion of term loan | $ | 753 | ||
Revolving line of credit | 438 | |||
Accounts payable | 144 | |||
Accrued liabilities | 169 | |||
Total current liabilities of VIE | 1,504 | |||
Long-term portion of term loan | 5,064 | |||
Long-term note payable to related party | 2,400 | |||
Other long-term liabilities | 12 | |||
Total liabilities of VIE | $ | 8,980 | ||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Subsequent Events | |
The Company evaluated subsequent events through the date of this filing and had no subsequent events to report. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Principles of Consolidation | ' | |||
Principles of Consolidation | ||||
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries along with its variable interest entity. All significant intercompany balances and transactions have been eliminated in consolidation. The portion of the net loss attributable to the noncontrolling interest of N2 Bio is presented as net loss attributable to noncontrolling interest in the consolidated statements of operations and the portion of comprehensive loss attributable to the noncontrolling interest of N2 Bio is presented as comprehensive loss attributable to noncontrolling interests in the consolidated statements of comprehensive loss. The portion of stockholders' equity of N2 Bio attributable to the noncontrolling interest of N2 Bio is presented as noncontrolling interest in the consolidated balance sheets. | ||||
Revenue Recognition | ' | |||
Revenue Recognition | ||||
The Company derives its revenues from continuing operations from three primary sources: (1) commercial products including, but not limited to, solar energy manufacturing equipment and solar energy systems; (2) biomedical processing services; and (3) United States government funded research and development contracts. | ||||
The Company generally recognizes product revenue upon shipment of products provided there are no uncertainties regarding customer acceptance, persuasive evidence of an arrangement exists, the sales price is fixed or determinable, and collectability is reasonably assured. These criteria are generally met at the time of shipment when the risk of loss and title passes to the customer. | ||||
The Company's OEM (original equipment manufacturer) capital equipment solar energy business builds complex customized machines to order for specific customers. Most orders are sold on a FOB Bedford, Massachusetts (or EX-Works Factory) basis and other orders are sold on a Carriage and Insurance Paid (or CIP), or on rare situations, a Delivery Duty Unpaid (or DDU) basis. It is the Company's policy to recognize revenues for this equipment when title of the product has passed to the customer, provided that customer acceptance is obtained prior to shipment and the equipment is expected to operate the same in the customer's environment as it does in the Company's environment. When an arrangement with the customer includes future obligations or customer acceptance, revenue is recognized when those obligations are met or customer acceptance has been achieved. Typically, the Company is able to separate arrangements with multiple elements into more than one unit of accounting as it relates to the passage of title to goods, training and installation services when no right of return exists. The Company allocates total fees under contract to each element using the relative selling price method and revenue is recognized upon delivery of each element. The Company's management performs extensive analysis to determine the relative selling price of each unit of accounting. The Company allocates revenue in arrangements using its best estimate of selling price if neither vendor-specific objective evidence ("VSOE") nor third-party evidence (“TPE”) of selling price exists. The Company determines estimated selling price ("ESP") of each deliverable based on a number of factors, including internal costs, gross margin targets and historical sales of similar units, as well as external factors such as market and competitive conditions. | ||||
The Company's solar systems business provides photovoltaic systems for application to powering buildings with connection to the utility grid. It is the Company's policy to recognize revenues for these systems when title passes, the customer accepts the system installation and interconnection to the grid is achieved. | ||||
The Company's biomedical business provides advanced medical device surface treatment processes for performance improvement of orthopedic devices. It is the Company's policy to recognize revenues from these services when services are provided to the customer. | ||||
The Company recognizes revenues and estimated profits on long-term government contracts on a percent complete basis where the circumstances are such that total profit can be estimated with reasonable accuracy and ultimate realization is reasonably assured. The Company records revenue and profit utilizing the percentage of completion method using a cost-to-cost methodology. A percentage of the contract revenues and estimated profits is determined utilizing the ratio of costs incurred to date to total estimated cost to complete on a contract by contract basis. Profit estimates are revised periodically based upon changes in facts, and any losses on contracts are recognized immediately. Some of the contracts include provisions to withhold a portion of the contract value as retainage until such time as the United States government performs an audit of the cost incurred under the contract. The Company's policy is to take into revenue the full value of the contract, including any retainage, as it performs against the contract since the Company has not experienced any substantial losses as a result of audits performed by the United States government. | ||||
Cash and Cash Equivalents | ' | |||
Cash and Cash Equivalents | ||||
Cash and cash equivalents include cash, time deposits and all highly liquid debt instruments with original maturities of three months or less. These investments are carried at cost, which approximates market value. Cash and cash equivalents are deposited at various area banks, and at times may exceed federally insured limits. | ||||
Restricted Cash | ' | |||
Restricted Cash | ||||
Restricted cash consist of certificates of deposit with various maturity dates. As of December 31, 2013, the Company had restricted cash in the amount of $170 thousand to secure the Company's obligations under letters of credit. | ||||
Available-for-Sale Investments | ' | |||
Available-for-Sale Investments | ||||
Available-for-sale investments consist of assets held as part of the Spire Corporation Non-Qualified Deferred Compensation Plan. These investments have been classified as available-for-sale investments and are reported at fair value, with unrealized gains and losses included in accumulated other comprehensive income. The unrealized gain on these marketable securities was $393 thousand and $222 thousand as of December 31, 2013 and 2012, respectively. Additionally, the Company settled $84 thousand and $384 thousand of accrued liabilities through issuance of common stock to the Spire Corporation Non-Qualified Deferred Compensation Plan during the twelve month period ended December 31, 2013 and 2012. The available-for-sale investments balance at December 31, 2013 is classified in total current assets. See Note 13 to the consolidated financial statements. | ||||
Inventories | ' | |||
Inventories | ||||
Inventories are stated at the lower of cost or market, cost being determined on a first-in, first-out ("FIFO") basis. Judgments and estimates are used in determining the likelihood that goods on hand can be sold to customers. Historical inventory usage, forecasted demand and current revenue trends are considered in estimating both excess and obsolete inventory. If actual product demand and market conditions are less favorable than those projected by management, additional inventory write-downs may be required. | ||||
Property and Equipment | ' | |||
Property and Equipment | ||||
Property and equipment is stated at cost. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the respective assets, as follows: | ||||
Equipment under capital lease | Lesser of 5 years or remaining life of lease | |||
Machinery and equipment | 5 and 7 years | |||
Furniture and fixtures and computer equipment | 3 - 5 years | |||
Leasehold improvements | Lesser of 10 years or remaining life of lease | |||
Maintenance and repairs are charged to expense as incurred. Major renewals and betterments are added to property and equipment accounts at cost. | ||||
Intangible and Other Assets | ' | |||
Intangible and Other Assets | ||||
Patents amounted to $62 thousand and $111 thousand, net of accumulated amortization of $871 thousand and $822 thousand, at December 31, 2013 and 2012, respectively. Licenses amounted to $110 thousand and $60 thousand, net of accumulated amortization of $38 thousand and $15 thousand, at December 31, 2013 and 2012, respectively. Patent cost is primarily composed of cost associated with securing and registering patents that the Company has been awarded or that have been submitted to, and the Company believes will be approved by the government. License cost is composed of the cost to acquire rights to the underlying technology or know-how. These costs are capitalized and amortized over their useful lives or terms, using the straight-line method. There are no expected residual values related to these patents. Amortization expense from continuing operations, relating to patents and licenses, was approximately $80 thousand for the year ended December 31, 2013 which includes $8 thousand of patents pending that were abandoned and written-off during the year. Amortization expense from continuing operations, relating to patents and licenses, was approximately $99 thousand for the year ended December 31, 2012 which includes $38 thousand of patents pending that were abandoned and written-off during the year. | ||||
The table below includes future amortization expense for patents and licenses owned by the Company as well as estimated amortization expense related to patents that remain pending at December 31, 2013 of $110 thousand. This estimated expense for patents pending assumes that the patents are issued immediately, and therefore are being amortized over five years on a straight-line basis. Estimated amortization expense for the periods ending December 31, is as follows: | ||||
(in thousands) | Amortization Expense | |||
2014 | $ | 123 | ||
2015 | 45 | |||
2016 | 31 | |||
2017 | 28 | |||
2018 | 27 | |||
2019 and future | 28 | |||
$ | 282 | |||
Included in other assets are refundable deposits made by the Company of approximately $150 thousand and $154 thousand at December 31, 2013 and 2012, respectively. Also included in other assets is a receivable related to an insurance settlement of approximately $225 thousand at December 31, 2013. | ||||
Long-lived Assets | ' | |||
Long-lived Assets | ||||
The Company accounts for long-lived assets in accordance with the provisions of Accounting Standard Codification 360-10-5-4, Impairment or Disposal of Long-Lived Assets. ASC 360-10-5-4 requires that long-lived assets and certain identifiable intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company measures recoverability of assets and /or asset groups to be held and used by a comparison of the carrying amount of an asset and/or asset group to future undiscounted net cash flows expected to be generated by the asset and/or asset groups. If such assets and/or asset groups are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets and/or asset groups exceed the fair value of the assets. The Company reports assets to be disposed of at the lower of the carrying amount or fair value less costs to sell. The Company evaluated long-lived assets for impairment during the year ended December 31, 2013 and determined that the estimated future net undiscounted cash flows of the assets and/or asset groups exceeded the carrying amount of the assets. | ||||
Income Taxes | ' | |||
Income Taxes | ||||
In accordance with ASC 740, Accounting for Income Taxes, the Company recognizes deferred income taxes based on the expected future tax consequences of differences between the financial statement basis and the tax basis of assets and liabilities, calculated using enacted tax rates in effect for the year in which the differences are expected to be reflected in the tax return. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | ||||
The Company accounts for uncertain tax positions using a “more-likely-than-not” threshold for recognizing and resolving uncertain tax positions. The evaluation of uncertain tax positions is based on factors including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, new audit activity and changes in facts or circumstances related to a tax position. The Company evaluates this tax position on a quarterly basis using a two-step process. The first step is a determination of whether the tax position should be recognized in the financial statements and the second step is the measurement of the tax position. The Company also accrues for potential interest and penalties as a component of income tax expense, related to unrecognized tax benefits. The Company’s evaluation was performed for the tax years ended December 31, 2010, 2011, 2012 and 2013, the tax years which remain subject to audit by the Internal Revenue Service and state tax jurisdictions. | ||||
Warranty | ' | |||
Warranty | ||||
The Company provides warranties on certain of its products and services. The Company’s warranty programs are described below: | ||||
Spire Solar generally warrants solar manufacturing equipment sold for a total of 360 days, which include the replacement of defective component parts and the labor to correct the defect. On occasion, extended warranties will be given to certain customers of solar manufacturing equipment for up to an additional 360 days. | ||||
Spire Biomedical warrants that its services will meet the agreed upon specifications. | ||||
The Company provides for the estimated cost of product warranties, determined primarily from historical information, at the time product revenue is recognized. Should actual product failure warranties differ from the Company’s estimates, revisions to the estimated warranty liability would be required. Product warranty liabilities are included in accrued liabilities in the Company’s consolidated balance sheets for the years ended December 31, 2013 and 2012. The changes in the product warranties for the years ended December 31, 2013 and 2012, are as follows: | ||||
(in thousands) | ||||
Balance at December 31, 2011 | $ | 813 | ||
Reduction to reserve | (63 | ) | ||
Usage | (278 | ) | ||
Balance at December 31, 2012 | 472 | |||
Reduction to reserve | (242 | ) | ||
Usage | (78 | ) | ||
Balance at December 31, 2013 | $ | 152 | ||
Internal Research and Development Costs | ' | |||
Internal Research and Development Costs | ||||
Internal research and development costs are charged to operations as incurred. During the years ended December 31, 2013 and 2012, Company funded research and development costs were approximately $31 thousand and $233 thousand, respectively. | ||||
Loss Per Share | ' | |||
Loss Per Share | ||||
Basic loss per share is computed by dividing loss available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted loss per share gives effect to all potential dilutive common shares outstanding during the period. The computation of diluted loss per share does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on loss per share. The Company did not pay any dividends in 2013 and 2012. | ||||
Comprehensive Loss | ' | |||
Comprehensive Loss | ||||
Comprehensive loss is comprised of net loss and other comprehensive loss. Besides the reported net loss, other comprehensive loss includes certain changes in equity that are excluded from net loss. Other comprehensive income (loss) was comprised of the change in the unrealized gain of available-for-sale investments of approximately $171 thousand and $21 thousand during the years ended December 31, 2013 and 2012, respectively. | ||||
Share-based Compensation | ' | |||
Share-Based Compensation | ||||
The Company accounts for its share-based compensation plans in accordance with the fair value recognition provisions of ASC 718 Compensation—Stock Compensation. The Company utilizes the Black-Scholes option pricing model as its method for determining the fair value of stock option grants. ASC 718 requires the fair value of all share-based awards that are expected to vest to be recognized in the statements of operations over the service or vesting period of each award. The Company uses the straight-line method of attributing the value of share-based compensation expense for all stock option grants over the requisite service period. | ||||
Use of Estimates | ' | |||
Use of Estimates | ||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The significant estimates included in the consolidated financial statements are those relating to revenue recognition, reserves for doubtful accounts, the assessment of excess and obsolete inventory, impairment of long-lived assets, stock-based compensation, income taxes and warranty reserves. Actual results could differ from those estimates. | ||||
Fair Value of Financial Instruments | ' | |||
Fair Value of Financial Instruments | ||||
Financial instruments of the Company include cash and cash equivalents, accounts receivable, accounts payable, revolving line of credit, term loan and capital leases. The Company's financial instruments at December 31, 2013 also include available-for-sale investments measured at fair value. See Note 8 to the consolidated financial statements. | ||||
Shipping and Handling Costs | ' | |||
Shipping and Handling Costs | ||||
Shipping and handling costs are included in cost of goods sold. | ||||
Foreign Currency | ' | |||
Foreign Currency | ||||
The Company sells almost exclusively in U.S. dollars, generally against an irrevocable confirmed letter of credit through a major United States bank. Accordingly, the Company is not directly affected by foreign exchange fluctuations on its current sales orders. However, fluctuations in foreign exchange rates have an effect on the Company’s customers’ access to U.S. dollars and on the pricing competition on certain pieces of equipment that the Company sells in selected markets. The Company bears the risk of any currency fluctuations that may be associated with these commitments. The Company attempts to hedge known transactions when possible to minimize foreign exchange risk. The Company had no hedging activity in 2013 and 2012. Foreign exchange loss included in other expense, net was approximately $9 thousand and $7 thousand for the years ended December 31, 2013 and 2012, respectively. | ||||
Segment Information | ' | |||
Segment Information | ||||
ASC 280, Segment Reporting, requires public entities to report certain information about operating segments. Based on the guidance provided in ASC 280, the Company has determined that its business is conducted in three reportable segments: solar, biomedical and corporate. | ||||
Variable Interest Entity | ' | |||
Variable Interest Entity | ||||
The Company has an interest in an entity that is a Variable Interest Entity ("VIE"). If the Company is the primary beneficiary of a VIE, the Company is required to consolidate it. To determine if the Company is the primary beneficiary, the Company evaluates whether it has the power to direct the activities that most significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. The Company's evaluation includes identification of significant activities and an assessment of the Company's ability to direct those activities based on governance provisions and arrangements to provide or receive product and process technology, product supply, operations services, equity funding, financing and other applicable agreements and circumstances. The Company's assessments of whether it is the primary beneficiary of its VIE require significant assumptions and judgments. | ||||
Subsequent Events | ' | |||
Subsequent Events | ||||
The Company evaluates all events or transactions through the date of the related filing, in accordance with the provisions of ASC 855, Subsequent Events. Through the date of this filing, the Company did not have any material subsequent events that impacted its consolidated financial statements or disclosures. | ||||
New Accounting Standards | ' | |||
In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2013-11 ("ASU 2013-11"), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The update requires, unless certain conditions exists, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, similar tax loss, or a tax credit carryforward. ASU 2013-11 is effective prospectively for reporting periods beginning after December 15, 2013, with early adoption permitted. Retrospective application is permitted. The Company is currently evaluating the impact of ASU 2013-11 yet there are no uncertain tax positions included in the consolidated financial statements. | ||||
In December 2011, the FASB issued ASU No. 2011-11 ("ASU 2011-11"), Disclosures about Offsetting Assets and Liabilities. The update requires companies to disclose information about financial instruments that have been offset and related arrangements to enable users of their financial statements to understand the effect of those arrangements on their financial position. Companies will be required to provide both net (offset amounts) and gross information in the notes to the financial statements for relevant assets and liabilities that are offset. In January 2013, the FASB issued ASU No. 2013-01 (ASU 2013-01"), Clarifying the Scope of Disclosures About Offsetting Assets and Liabilities. The update limits the scope of the offsetting disclosures required by ASU 2011-11. ASU 2011-11 and ASU 2013-01 is effective for interim and annual periods beginning after December 31, 2012. As the requirements of these ASUs relate only to disclosures, the application of the updates did not have an impact on the Company's consolidated financial statements. | ||||
In December 2011, the FASB issued ASU No. 2011-12 ("ASU 2011-12"), Comprehensive Income: Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. ASU 2011-12 deferred the effective date of the specific requirement to present items that are reclassified out of accumulated other comprehensive income to net income alongside their respective components of net income and other comprehensive income. As part of this update, the FASB did not defer the requirement to report comprehensive income in either a single continuous statement or in two separate but consecutive statements. In February 2013, the FASB issued ASU No. 2013-02 ("ASU 2013-02"), Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 is effective for interim and annual periods beginning after December 31, 2012. As ASU 2013-02 relates to disclosure requirements only, the application of this update did not have a material impact on the Company's consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Schedule of Product Warranty Liability | ' | |||
The changes in the product warranties for the years ended December 31, 2013 and 2012, are as follows: | ||||
(in thousands) | ||||
Balance at December 31, 2011 | $ | 813 | ||
Reduction to reserve | (63 | ) | ||
Usage | (278 | ) | ||
Balance at December 31, 2012 | 472 | |||
Reduction to reserve | (242 | ) | ||
Usage | (78 | ) | ||
Balance at December 31, 2013 | $ | 152 | ||
Schedule of Expected Amortization Expense | ' | |||
Estimated amortization expense for the periods ending December 31, is as follows: | ||||
(in thousands) | Amortization Expense | |||
2014 | $ | 123 | ||
2015 | 45 | |||
2016 | 31 | |||
2017 | 28 | |||
2018 | 27 | |||
2019 and future | 28 | |||
$ | 282 | |||
Accounts_Receivable_and_Advanc1
Accounts Receivable and Advances on Contracts in Progress (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounts Receivable and Advances on Contracts in Progress [Abstract] | ' | |||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||
Net accounts receivable, trade and advances on contracts in progress consists of the following at December 31: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Amounts billed | $ | 1,396 | $ | 1,927 | ||||
Accrued revenue | 18 | 238 | ||||||
1,414 | 2,165 | |||||||
Less: Allowance for doubtful accounts | — | (28 | ) | |||||
Net accounts receivable - trade | $ | 1,414 | $ | 2,137 | ||||
Advances on contracts in progress | $ | 1,433 | $ | 1,037 | ||||
Inventories_and_Deferred_Costs1
Inventories and Deferred Costs of Goods Sold (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventories and Deferred Costs of Goods Sold [Abstract] | ' | |||||||
Schedule of Inventories and Deferred Costs of Goods Sold | ' | |||||||
Inventories, net of $1,019 thousand and $860 thousand of reserves at December 31, 2013 and 2012, respectively, and deferred cost of goods sold consist of the following at December 31: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
$ | 1,310 | $ | 1,784 | |||||
Raw materials | ||||||||
Work in process | 2,004 | 2,103 | ||||||
Finished goods | 502 | 1,429 | ||||||
Net inventory | $ | 3,816 | $ | 5,316 | ||||
Deferred cost of goods sold | $ | 849 | $ | 185 | ||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Property and equipment consists of the following at December 31: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Machinery and equipment | $ | 11,783 | $ | 11,657 | ||||
Furniture fixtures and computer equipment | 4,824 | 4,741 | ||||||
Leasehold improvements | 3,894 | 3,854 | ||||||
Construction in progress | 43 | 119 | ||||||
20,544 | 20,371 | |||||||
Accumulated depreciation | (19,603 | ) | (19,174 | ) | ||||
$ | 941 | $ | 1,197 | |||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities [Abstract] | ' | |||||||
Schedule of Accrued Liabilities | ' | |||||||
Accrued liabilities include the following at December 31: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Accrued employee related | $ | 689 | $ | 607 | ||||
Accrued professional fees | 397 | 401 | ||||||
Accrued warranty and product | 152 | 583 | ||||||
Accrued other | 1,098 | 630 | ||||||
$ | 2,336 | $ | 2,221 | |||||
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||
Fair Value, Assets Measured on Recurring Basis | ' | |||||||||||||||
The following table presents the financial instruments related to the Company's available-for-sale investments carried at fair value on a recurring basis as of December 31, 2013 and 2012 by ASC 820-10 valuation hierarchy (as defined above). | ||||||||||||||||
(in thousands) | Balance of December 31, 2013 | Level 1 | Level 2 | Level 3 | ||||||||||||
Cash and short term investments | $ | 927 | $ | 927 | $ | — | $ | — | ||||||||
Common Stock | ||||||||||||||||
Basic Materials | 14 | 14 | — | — | ||||||||||||
Consumer Goods | 97 | 97 | — | — | ||||||||||||
Energy | 65 | 65 | — | — | ||||||||||||
Financial | 111 | 111 | — | — | ||||||||||||
Healthcare | 104 | 104 | — | — | ||||||||||||
Industrial Goods | 109 | 109 | — | — | ||||||||||||
Services | 21 | 21 | — | — | ||||||||||||
Technology | 557 | 557 | — | — | ||||||||||||
Transportation | — | — | — | — | ||||||||||||
Utilities | 9 | 9 | — | — | ||||||||||||
Total Common Stock | 1,087 | 1,087 | — | — | ||||||||||||
Mutual Fund | ||||||||||||||||
Diversified Emerging Markets | 193 | — | 193 | — | ||||||||||||
Precious Metals Fund | — | — | — | — | ||||||||||||
Foreign Large Blend | 287 | — | 287 | — | ||||||||||||
Foreign Large Growth | 175 | — | 175 | — | ||||||||||||
Large Growth | 163 | — | 163 | — | ||||||||||||
Small Blend | 189 | 189 | — | — | ||||||||||||
Global High Yield Income Fund | 38 | — | 38 | — | ||||||||||||
Total Mutual Funds | 1,045 | 189 | 856 | — | ||||||||||||
Fixed Income | ||||||||||||||||
Domestic | 413 | — | 413 | — | ||||||||||||
International | 63 | — | 63 | — | ||||||||||||
Total Fixed Income | 476 | — | 476 | — | ||||||||||||
Total available for-sale-investments (1) | $ | 3,535 | $ | 2,203 | $ | 1,332 | $ | — | ||||||||
Percent of total | 100 | % | 62 | % | 38 | % | — | % | ||||||||
(in thousands) | Balance of December 31, 2012 | Level 1 | Level 2 | Level 3 | ||||||||||||
Cash and short term investments | $ | 32 | $ | 32 | $ | — | $ | — | ||||||||
Common Stock | ||||||||||||||||
Basic Materials | 15 | 15 | — | — | ||||||||||||
Consumer Goods | 58 | 58 | — | — | ||||||||||||
Financial | 61 | 61 | — | — | ||||||||||||
Healthcare | 52 | 52 | — | — | ||||||||||||
Industrial Goods | 51 | 51 | — | — | ||||||||||||
Services | 32 | 32 | — | — | ||||||||||||
Technology | 376 | 376 | — | — | ||||||||||||
Total Common Stock | 708 | 708 | — | — | ||||||||||||
Mutual Fund | ||||||||||||||||
Diversified Emerging Markets | 187 | — | 187 | — | ||||||||||||
Foreign Large Blend | 244 | — | 244 | — | ||||||||||||
Foreign Large Growth | 250 | — | 250 | — | ||||||||||||
Large Growth | 220 | — | 220 | — | ||||||||||||
Small Blend Total | 525 | 525 | — | — | ||||||||||||
Total Mutual Funds | 1,527 | 525 | 1,002 | — | ||||||||||||
Fixed Income | ||||||||||||||||
Domestic | 678 | — | 678 | — | ||||||||||||
International | 18 | — | 18 | — | ||||||||||||
Total Fixed Income | 696 | — | 696 | — | ||||||||||||
Total available for-sale-investments (1) | $ | 2,963 | $ | 1,265 | $ | 1,698 | $ | — | ||||||||
Percent of total | 100 | % | 43 | % | 57 | % | — | % | ||||||||
(1) | Changes in the fair value of available-for-sale investments are recorded in accumulated other comprehensive income, a component of stockholders' equity, in the Company's consolidated balance sheets. |
Sharebased_Compensation_Tables
Share-based Compensation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Stock based Compensation and Stock Option Plan [Abstract] | ' | ||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | ' | ||||||||||||
The Company has recognized share-based compensation expense from continuing operations of approximately $100 thousand and $202 thousand for the years ended December 31, 2013 and 2012, respectively. The total non-cash, share-based compensation expense from continuing operations included in the consolidated statements of operations for the years ended is included in the following expense categories: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Cost of contract research, services | $ | 11 | $ | 20 | |||||||||
Cost of goods sold | 7 | 32 | |||||||||||
Administrative and selling | 82 | 150 | |||||||||||
Total share-based compensation | $ | 100 | $ | 202 | |||||||||
Share-based compensation expense from discontinued operations was zero and $(7) thousand for the years ended December 31, 2013 and 2012, respectively. No share-based compensation expense was capitalized during 2013 and 2012. Compensation expense related to stock options to be charged in future periods amounts to approximately $19 thousand at December 31, 2013 and will be recognized over a weighted-average period of 0.58 years as follows: | |||||||||||||
For the years ended December 31, | Expected | ||||||||||||
Compensation Expense | |||||||||||||
(in thousands) | |||||||||||||
2014 | $ | 19 | |||||||||||
$ | 19 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ||||||||||||
A summary of options outstanding under the Plans as of December 31, 2013 and changes during the twelve month period ended December 31, 2013 is as follows: | |||||||||||||
Number of Shares | Weighted | Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | ||||||||||
Average | |||||||||||||
Exercise Price | |||||||||||||
(in thousands) | |||||||||||||
Options outstanding at December 31, 2012 | 644,446 | $ | 6.21 | ||||||||||
Granted | 36,000 | $ | 0.5 | ||||||||||
Exercised | — | $ | — | ||||||||||
Cancelled/expired | (153,200 | ) | $ | 6.01 | |||||||||
Options outstanding at December 31, 2013 | 527,246 | $ | 5.88 | 5.2 | $ | 3 | |||||||
Options vested and exercisable at December 31, 2013 | 513,496 | $ | 5.92 | 5.16 | $ | 3 | |||||||
Options vested and expected to vest at December 31, 2013 | 526,771 | $ | 5.91 | 5.16 | $ | — | |||||||
Options available for future grant at December 31, 2013 | 478,759 | ||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | ' | ||||||||||||
The per-share weighted-average fair value of stock options granted was $0.50 and $1.78 for the years ended December 31, 2013 and 2012, respectively, on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: | |||||||||||||
Expected | Risk-Free | Expected | Expected | ||||||||||
Year | Dividend Yield | Interest Rate | Option Life | Volatility Factor | |||||||||
2013 | — | 1.08 | % | 5.10 years | 106.4 | % | |||||||
2012 | — | 0.71 | % | 5.10 years | 93.3 | % |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accumulated Other Comprehensive Income [Abstract] | ' | |||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | |||
Changes in accumulated other comprehensive income balances by component for the year ended December 31, 2013 consist of the following: | ||||
(in thousands) | Unrealized Gains (Losses) on Available for Sale Securities | |||
Balance, December 31, 2012 | $ | 222 | ||
Other comprehensive income before reclassification | 467 | |||
Amounts reclassified from accumulated other comprehensive income | (296 | ) | ||
Net current-period change in other comprehensive income | 171 | |||
Balance, December 31, 2013 | $ | 393 | ||
Reclassification out of Accumulated Other Comprehensive Income | ' | |||
Reporting reclassifications out of accumulated other comprehensive income for the year ended December 31, 2013 consist of the following: | ||||
Details about Accumulated Other Comprehensive Income Components | Amount Reclassified from Accumulated Other Comprehensive Income (in thousands) | Affected Line Item in the Statement Where Net Income is Resented | ||
Realized gains on available-for-sale investments | (296 | ) | Selling, general and administrative expenses |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Components of Income Tax Provision (Benefit) [Abstract] | ' | |||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | |||||||
The reconciliation between the amount computed by applying the United States federal statutory tax rate of 34% to pretax income (loss) and the actual benefit (provision) for income taxes follows: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Income tax benefit (provision) – continuing operations at statutory rate | $ | (2,872 | ) | $ | 2,289 | |||
Increase in valuation allowance related to income tax expense | 161 | (461 | ) | |||||
State income tax benefit | 34 | 211 | ||||||
Taxable gain on sale between entities under common control | 2,619 | — | ||||||
Other | 60 | (88 | ) | |||||
Income tax benefit – continuing operations | 2 | 1,951 | ||||||
Income tax provision – discontinued operations at statutory rate | — | (1,656 | ) | |||||
State income taxes – discontinued operations | — | (292 | ) | |||||
Income tax provision – discontinued operations | — | (1,948 | ) | |||||
Total income tax benefit (provision) | $ | 2 | $ | 3 | ||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||
The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are as follows: | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Deferred tax assets: | ||||||||
Accruals | $ | 1,997 | $ | 1,992 | ||||
Inventories | 420 | 365 | ||||||
Other | 477 | — | ||||||
Net operating loss carryforwards | 4,733 | 4,705 | ||||||
General business credit carryforwards | 388 | 403 | ||||||
Alternative minimum tax credit carryforwards | 268 | 268 | ||||||
Foreign tax credit | — | 38 | ||||||
Total gross deferred tax assets | 8,283 | 7,771 | ||||||
Prepaid expenses | (294 | ) | (251 | ) | ||||
Depreciation | 215 | 130 | ||||||
Amortization | (53 | ) | (79 | ) | ||||
Total gross deferred tax liabilities | (132 | ) | (200 | ) | ||||
Valuation allowance | (8,151 | ) | (7,571 | ) | ||||
Net deferred tax assets | $ | — | $ | — | ||||
Commitments_Tables
Commitments (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Commitments [Abstract] | ' | |||||||||||
Schedule of Future Minimum Payments for Operating and Capital Leases [Table Text Block] | ' | |||||||||||
At December 31, 2013 and 2012, the Company including the variable interest entity, N2 Bio, had operating and capital leases for office space and office equipment. At December 31, 2013, future minimum lease payments for the period ended are as follows: | ||||||||||||
(in thousands) | Unrelated Party Operating Leases | Related Party Operating Leases | Unrelated Party Capital Leases | |||||||||
2014 | $ | 63 | $ | 2,386 | $ | 8 | ||||||
2015 | 16 | 2,458 | — | |||||||||
2016 | 12 | 2,530 | — | |||||||||
2017 | 1 | 2,421 | — | |||||||||
2018 | — | 502 | — | |||||||||
Thereafter | — | 998 | — | |||||||||
Total minimum lease payments | $ | 92 | $ | 11,295 | 8 | |||||||
Less: amounts represented by interest | — | |||||||||||
Present value of monthly lease payments | 8 | |||||||||||
Less: current portion of unrelated party capital lease obligation | (8 | ) | ||||||||||
Long-term portion of unrelated party capital lease obligation | $ | — | ||||||||||
Loss_Per_Share_Tables
Loss Per Share (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Income (loss) Per Share [Abstract] | ' | |||||
Schedule of Weighted Average Number of Shares | ' | |||||
The following table provides a reconciliation of the denominators of the Company’s reported basic and diluted loss per share computations for the years ended December 31: | ||||||
2013 | 2012 | |||||
Weighted average number of common and common | 9,176,438 | 8,579,027 | ||||
equivalent shares outstanding – basic | ||||||
Add: Net additional common shares upon assumed | — | — | ||||
exercise of common stock options | ||||||
Weighted average number of common and common | 9,176,438 | 8,579,027 | ||||
equivalent shares outstanding – diluted | ||||||
Operating_Segments_and_Related1
Operating Segments and Related Information (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Operating Segments and Related Information [Abstract] | ' | |||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | |||||||||||||||
The following table presents certain continuing operating division information in accordance with the provisions of ASC 280, Segment Reporting. | ||||||||||||||||
(in thousands) | Spire | Spire | Corporate | Total | ||||||||||||
Solar | Biomedical | Company | ||||||||||||||
December 31, 2013 | ||||||||||||||||
Net sales and revenues | $ | 7,651 | $ | 6,930 | $ | — | $ | 14,581 | ||||||||
Operating loss from continuing operations | (8,297 | ) | (79 | ) | — | (8,376 | ) | |||||||||
Total assets | 6,354 | 1,560 | 8,155 | 16,069 | ||||||||||||
Purchase of property and equipment | 16 | 103 | 20 | 139 | ||||||||||||
Depreciation and amortization | 213 | 162 | 134 | 509 | ||||||||||||
Share-based compensation | 21 | 24 | 55 | 100 | ||||||||||||
Spire | Spire | Corporate | Total | |||||||||||||
Solar | Biomedical | Company | ||||||||||||||
December 31, 2012 | ||||||||||||||||
Net sales and revenues | $ | 15,255 | $ | 6,855 | $ | — | $ | 22,110 | ||||||||
Operating income (loss) from continuing operations | (7,280 | ) | 677 | — | (6,603 | ) | ||||||||||
Total assets | 7,757 | 1,499 | 6,651 | 15,907 | ||||||||||||
Purchase of property and equipment | 83 | 8 | 52 | 143 | ||||||||||||
Depreciation and amortization | 369 | 208 | 227 | 804 | ||||||||||||
Share-based compensation | 61 | 43 | 98 | 202 | ||||||||||||
Revenues By Geography | ' | |||||||||||||||
The following table shows net sales and revenues by geographic area (based on customer location) for the years ended December 31: | ||||||||||||||||
(in thousands) | 2013 | % | 2012 | % | ||||||||||||
United States | $ | 9,651 | 66 | % | $ | 10,436 | 47 | % | ||||||||
Asia | 2,491 | 17 | % | 7,971 | 36 | % | ||||||||||
Europe / Africa | 2,194 | 15 | % | 3,628 | 17 | % | ||||||||||
Rest of the world | 245 | 2 | % | 75 | — | % | ||||||||||
$ | 14,581 | 100 | % | $ | 22,110 | 100 | % | |||||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Discontinued Operations and Assets Held for Sale [Abstract] | ' | |||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||||||
The assets and liabilities of the Semiconductor Business Unit and the liabilities of the Medical Products Business Unit as of December 31, 2013 and 2012 are as follows: | ||||||||
(in thousands) | December 31, 2013 | December 31, 2012 | ||||||
Assets | ||||||||
Current Assets | ||||||||
Restricted cash | $ | — | $ | 718 | ||||
Total current assets of discontinued operations | — | 718 | ||||||
Total Assets of discontinued operations | $ | — | $ | 718 | ||||
Liabilities of Discontinued Operations | ||||||||
Current liabilities of discontinued operations | ||||||||
Accrued liabilities | $ | 21 | $ | 171 | ||||
Total current liabilities of discontinued operations | 21 | 171 | ||||||
Total liabilities of discontinued operations | $ | 21 | $ | 171 | ||||
Condensed results of operations relating to the Medical Products Business Unit and the Semiconductor Business Unit for the year ended December 31, 2013 and 2012 are as follows: | ||||||||
Year Ended December 31, | ||||||||
(in thousands) | 2013 | 2012 | ||||||
Net sales and revenues | $ | — | $ | 425 | ||||
Gross margin | $ | — | $ | (296 | ) | |||
Loss from discontinued operations before sale of business unit | $ | — | $ | (580 | ) | |||
Gain on sale of business unit, net of transaction expenses | — | 5,449 | ||||||
Income tax provision | — | (1,948 | ) | |||||
Net income from discontinued operations, net of tax | $ | — | $ | 2,921 | ||||
Variable_Interest_Entity_Table
Variable Interest Entity (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Noncontrolling Interest [Abstract] | ' | |||
Schedule of Variable Interest Entities | ' | |||
The assets and liabilities with carryover basis as noted above from the VIE included in the audited consolidated balance sheet as of December 31, 2013 are as follows: | ||||
(in thousands) | December 31, 2013 | |||
Assets of VIE | ||||
Current Assets | ||||
Cash and cash equivalents | $ | 131 | ||
Accounts receivable trade, net | 899 | |||
Due from related parties | 24 | |||
Inventories, net | 22 | |||
Prepaid expenses and other current assets | 114 | |||
Total current assets of VIE | 1,190 | |||
Property and equipment, net | 266 | |||
Intangible & other assets, net | 85 | |||
Total assets of VIE | $ | 1,541 | ||
Liabilities of VIE | ||||
Current liabilities | ||||
Current portion of term loan | $ | 753 | ||
Revolving line of credit | 438 | |||
Accounts payable | 144 | |||
Accrued liabilities | 169 | |||
Total current liabilities of VIE | 1,504 | |||
Long-term portion of term loan | 5,064 | |||
Long-term note payable to related party | 2,400 | |||
Other long-term liabilities | 12 | |||
Total liabilities of VIE | $ | 8,980 | ||
Description_of_Business_Detail
Description of Business (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | ||||||||||
Apr. 30, 2014 | Oct. 29, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 18, 2013 | Mar. 09, 2012 | Mar. 31, 2012 | Dec. 14, 2009 | Sep. 18, 2013 | Sep. 18, 2014 | Dec. 31, 2013 | Sep. 18, 2013 | |
countries | Biomedical Service | Semiconductor Business Unit | Semiconductor Business Unit | Medical Products Business Unit | Convertible Debt | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | |||||||
factories | Biomedical Service | sqft | |||||||||||||
Number of Factories Which the Company's Equipment Has Been Installed | ' | ' | ' | 200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Countries Which the Company's Equipment Has Been Installed | ' | ' | ' | 50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposal Date | ' | ' | ' | ' | ' | ' | ' | 18-Sep-13 | 9-Mar-12 | ' | 14-Dec-09 | ' | ' | ' | ' |
Business Divestiture, Sale Price | ' | ' | ' | ' | ' | ' | ' | $10,500,000 | $8,000,000 | ' | ' | ' | ' | ' | ' |
Business Divestiture, Sale Price Allocation, Liabilities Assume | ' | ' | ' | ' | ' | ' | ' | 100,000 | 500,000 | 1,200,000 | ' | ' | ' | ' | ' |
Proceeds from Divestiture of Businesses | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | 7,300,000 | ' | ' | ' | ' | ' |
Noncash or Part Noncash Divestiture, Amount of Consideration Received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | ' | ' | ' |
Preferred Stock, Shares Outstanding | ' | ' | ' | ' | ' | ' | ' | 310,549 | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Value, Issued | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Par or Stated Value Per Share | ' | ' | ' | ' | ' | ' | ' | $6.72 | ' | ' | ' | ' | ' | ' | $6.72 |
Deemed Dividend | ' | ' | ' | ' | ' | ' | ' | 9,500,000 | ' | ' | ' | ' | ' | ' | ' |
Subordinated Borrowing, Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | 19.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of Shared Services | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduce Lease Space | ' | ' | 19.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Area of Real Estate Property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,000 |
Rent Per Square Foot for First Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 |
Rental Rate Increase on Each Annual Anniversary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 |
Export Sales, Percentage | ' | ' | ' | 34.00% | 53.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Income (Loss) From Continuing Operations | ' | ' | ' | -8,376,000 | -6,603,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | -5,301,000 | -7,838,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Cash Provided by Operating Activities of Discontinued Operations | ' | ' | ' | -150,000 | -1,726,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and Cash Equivalents | ' | ' | ' | $3,986,000 | $3,030,000 | $3,030,000 | $4,758,000 | ' | ' | ' | ' | ' | ' | $131,000 | ' |
Line of Credit Facility, Expiration Date | 30-Apr-14 | 29-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18-Sep-14 | ' | ' |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Property and Equipment (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Equipment Under Capital Lease | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '5 years |
Machinery and Equipment | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '7 years |
Machinery and Equipment | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '5 years |
Furniture and Fixtures and Computer Equipment | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '5 years |
Furniture and Fixtures and Computer Equipment | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Leasehold Improvements | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Intangible and Other Assets Narrative (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived intangible assets, net | $282 | ' |
Amortization of Intangible Assets | 80 | 99 |
Write-off intangible assets | 8 | 38 |
Refundable deposits | 150 | 154 |
Insurance Settlements Receivable, Current | 225 | ' |
Patents [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived intangible assets, net | 62 | 111 |
Finite-Lived Intangible Assets, Accumulated Amortization | 871 | 822 |
Licensing Agreements [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived intangible assets, net | 110 | 60 |
Finite-Lived Intangible Assets, Accumulated Amortization | $38 | $15 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies Estimated Future Amortization Expense (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Schedule of expected amortization expense [Abstract] | ' |
2014 | $123 |
2015 | 45 |
2016 | 31 |
2017 | 28 |
2018 | 27 |
2019 and future | 28 |
Finite-Lived intangible assets, net | 282 |
Pending patent | $110 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies Warranty (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 |
Warranty Accrual [Abstract] | ' | ' | ' |
Product Warranty Accrual | $152 | $472 | $813 |
Product Warranty Accrual, Preexisting, Increase (Decrease) | -242 | -63 | ' |
Usage | ($78) | ($278) | ' |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies Narratives (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Summary of Significant Accounting Policies [Abstract] | ' | ' |
Restricted cash | $170 | $0 |
Accumulated other comprehensive income (loss), net of tax | 393 | 222 |
Liabilities converted to common stock | 84 | 384 |
Internal research and development expenses | 31 | 233 |
Change in unrealized gain (loss) on available for sale marketable securiteis, net of tax | 171 | 21 |
Foreign exchange gain (loss) | ($9) | ($7) |
Interim_Financial_Statements_D
Interim Financial Statements (Details) | 0 Months Ended | |
Mar. 09, 2012 | Dec. 14, 2009 | |
Semiconductor Business Unit | Medical Products Business Unit | |
Disposal Date | 9-Mar-12 | 14-Dec-09 |
Accounts_Receivable_and_Advanc2
Accounts Receivable and Advances on Contracts in Progress (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts Receivable and Advances on Contracts in Progress [Abstract] | ' | ' |
Amounts billed | $1,396 | $1,927 |
Accrued revenue | 18 | 238 |
Accounts receivable, gross | 1,414 | 2,165 |
Less: Allowance for doubtful accounts | 0 | 28 |
Net accounts receivable - trade | 1,414 | 2,137 |
Advances on contracts in progress | 1,433 | 1,037 |
Allowance for doubtful accounts receivable, recoveries | $24 | $10 |
Inventories_and_Deferred_Costs2
Inventories and Deferred Costs of Goods Sold (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Inventories and Deferred Costs of Goods Sold [Abstract] | ' | ' |
Inventory valuation reserves | $1,019 | $860 |
Raw materials | 1,310 | 1,784 |
Work in process | 2,004 | 2,103 |
Finished goods | 502 | 1,429 |
Net inventory | 3,816 | 5,316 |
Deferred cost of goods sold | 849 | 185 |
Inventory write-off | $62 | $317 |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Property and Equipment [Abstract] | ' | ' |
Machinery and equipment | $11,783 | $11,657 |
Furniture fixtures and computer equipment | 4,824 | 4,741 |
Leasehold improvements | 3,894 | 3,854 |
Construction in progress | 43 | 119 |
Property, plant and equipment, gross | 20,544 | 20,371 |
Accumulated depreciation | -19,603 | -19,174 |
Property and equipment, net | 941 | 1,197 |
Depreciation | $429 | $705 |
Accrued_Liabilities_Accrued_Li
Accrued Liabilities Accrued Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities, Current [Abstract] | ' | ' |
Accrued employee related | $689 | $607 |
Accrued professional fees | 397 | 401 |
Accrued warranty and product | 152 | 583 |
Accrued other | 1,098 | 630 |
Accrued liabilities | $2,336 | $2,221 |
Notes_Payable_and_Credit_Arran1
Notes Payable and Credit Arrangements (Details) (USD $) | 0 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | ||||||||||||||||||||||||
Apr. 30, 2014 | Oct. 29, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 18, 2020 | Sep. 18, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 18, 2013 | Sep. 30, 2013 | Sep. 18, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
CreditFacilities | Credit agreement | Credit agreement | Credit agreement | Credit agreement | Credit agreement | Credit agreement | Accounts receivable | Eligible receivables | Other eligible receivables billed in foreign currency | Eligible inventory | Prime rate | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | Spire Corporation | Spire Corporation | Spire Corporation | Spire Corporation | |||||
Revolving credit facility | Ex-Im facility | Streamline eligible under credit facility | Streamline eligible under credit facility | Credit agreement | Credit agreement | Credit agreement | Credit agreement | Credit agreement | Revolving credit facility | Credit agreement | Accounts receivable | Prime rate | Revolving credit facility | Revolving credit facility | Ex-Im facility | Ex-Im facility | |||||||||||||
Revolving credit facility | Ex-Im facility | Ex-Im facility | Ex-Im facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | |||||||||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Credit Facilities | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | $1,500,000 | ' | $1,000,000 | $1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | ' | ' | ' | ' | ' | ' |
Guidence Line, Capacity Available | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Expiration Date | 30-Apr-14 | 29-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Maintaining Liquidity | ' | ' | ' | ' | ' | ' | 1,250,000 | ' | ' | 3,500,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Maintaining Cash Balance | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Eligible Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | 90.00% | 75.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Lower Interest Rate | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,800,000 | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18-Sep-20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 438,000 | ' | ' | 438,000 | ' | ' | ' | 107,000 | 449,000 | 38,000 | 141,000 |
Line of Credit Facility, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | ' | ' | ' | 6.00% | ' | 6.00% | ' |
Debt Instrument, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guidence Line, Utilized | ' | ' | ' | ' | 675,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | $581,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements Fair Value Measurements (Details) (Fair Value, Measurements, Recurring, USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | $3,535 | [1] | $2,963 | [1] |
Percent of Total Available-for-sale Investments | 100.00% | 100.00% | ||
Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 2,203 | [1] | 1,265 | [1] |
Percent of Total Available-for-sale Investments | 62.00% | 43.00% | ||
Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 1,332 | [1] | 1,698 | [1] |
Percent of Total Available-for-sale Investments | 38.00% | 57.00% | ||
Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | [1] | 0 | [1] |
Percent of Total Available-for-sale Investments | 0.00% | 0.00% | ||
Cash and short term investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 927 | 32 | ||
Cash and short term investments | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 927 | 32 | ||
Cash and short term investments | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Cash and short term investments | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 1,087 | 708 | ||
Common Stock | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 1,087 | 708 | ||
Common Stock | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Basic Materials | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 14 | 15 | ||
Common Stock | Basic Materials | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 14 | 15 | ||
Common Stock | Basic Materials | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Basic Materials | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Consumer Goods | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 97 | 58 | ||
Common Stock | Consumer Goods | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 97 | 58 | ||
Common Stock | Consumer Goods | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Consumer Goods | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Energy | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 65 | ' | ||
Common Stock | Energy | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 65 | ' | ||
Common Stock | Energy | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Common Stock | Energy | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Common Stock | Financial | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 111 | 61 | ||
Common Stock | Financial | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 111 | 61 | ||
Common Stock | Financial | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Financial | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Healthcare | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 104 | 52 | ||
Common Stock | Healthcare | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 104 | 52 | ||
Common Stock | Healthcare | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Healthcare | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Industrial Goods | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 109 | 51 | ||
Common Stock | Industrial Goods | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 109 | 51 | ||
Common Stock | Industrial Goods | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Industrial Goods | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Services | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 21 | 32 | ||
Common Stock | Services | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 21 | 32 | ||
Common Stock | Services | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Services | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Technology | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 557 | 376 | ||
Common Stock | Technology | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 557 | 376 | ||
Common Stock | Technology | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Technology | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Common Stock | Transportation | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Common Stock | Transportation | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Common Stock | Transportation | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Common Stock | Transportation | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Common Stock | Utilities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 9 | ' | ||
Common Stock | Utilities | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 9 | ' | ||
Common Stock | Utilities | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Common Stock | Utilities | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Mutual Fund | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 1,045 | 1,527 | ||
Mutual Fund | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 189 | 525 | ||
Mutual Fund | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 856 | 1,002 | ||
Mutual Fund | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Diversified Emerging Markets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 193 | 187 | ||
Mutual Fund | Diversified Emerging Markets | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Diversified Emerging Markets | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 193 | 187 | ||
Mutual Fund | Diversified Emerging Markets | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Precious Metals Fund | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Mutual Fund | Precious Metals Fund | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Mutual Fund | Precious Metals Fund | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Mutual Fund | Precious Metals Fund | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Mutual Fund | Foreign Large Blend | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 287 | 244 | ||
Mutual Fund | Foreign Large Blend | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Foreign Large Blend | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 287 | 244 | ||
Mutual Fund | Foreign Large Blend | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Foreign Large Growth | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 175 | 250 | ||
Mutual Fund | Foreign Large Growth | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Foreign Large Growth | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 175 | 250 | ||
Mutual Fund | Foreign Large Growth | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Large Growth | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 163 | 220 | ||
Mutual Fund | Large Growth | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Large Growth | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 163 | 220 | ||
Mutual Fund | Large Growth | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Small Blend | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 189 | 525 | ||
Mutual Fund | Small Blend | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 189 | 525 | ||
Mutual Fund | Small Blend | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Small Blend | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Mutual Fund | Global High Yield Income Fund | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 38 | ' | ||
Mutual Fund | Global High Yield Income Fund | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Mutual Fund | Global High Yield Income Fund | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 38 | ' | ||
Mutual Fund | Global High Yield Income Fund | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | ' | ||
Fixed Income | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 476 | 696 | ||
Fixed Income | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Fixed Income | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 476 | 696 | ||
Fixed Income | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Fixed Income | Domestic | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 413 | 678 | ||
Fixed Income | Domestic | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Fixed Income | Domestic | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 413 | 678 | ||
Fixed Income | Domestic | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Fixed Income | International | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 63 | 18 | ||
Fixed Income | International | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 0 | 0 | ||
Fixed Income | International | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | 63 | 18 | ||
Fixed Income | International | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities, Fair Value disclosure | $0 | $0 | ||
[1] | (1)Â Changes in the fair value of available-for-sale investments are recorded in accumulated other comprehensive income, a component of stockholders' equity, in the Company's consolidated balance sheets. |
Sharebased_Compensation_Exepns
Share-based Compensation Exepnse (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Employee Service Share-based Compensation, Nonvested awards, Compensation Costs Not yet Recognized, Year Two | $19 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 19 | ' |
Continuing Operations | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 100 | 202 |
Continuing Operations | Cost of contract research, services | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 11 | 20 |
Continuing Operations | Cost of goods sold | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 7 | 32 |
Continuing Operations | Administrative and selling | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | $82 | $150 |
Sharebased_Compensation_and_St
Share-based Compensation and Stock Option Plan Stock Option Activity (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Weighted-Average Exercise Price [Roll Forward] | ' |
Weighted-Average Exercise Price, Begining balance | $6.21 |
Weighted-Average Exercise Price, Granted | $0.50 |
Weighted-Average Excercise Price, Exercised | $0 |
Weighted-Average Exercise Price, Cancelled/expired | $6.01 |
Weighted-Average Exercise Price, Ending balance | $5.88 |
Weighted-Average Excercise Price, Exercisable at the end of period | $5.92 |
Weighted-Average Excercise Price, Vested and expected to vest at the end of period | $5.91 |
Stock Options [Member] | ' |
Number of Shares [Roll Forward] | ' |
Stock Options Number of Shares, Begining balance | 644,446 |
Stock Options Number of Shares, Granted | 36,000 |
Exercise of stock options - shares | 0 |
Stock Options Number of Shares, Cancelled/expired | -153,200 |
Stock Options Number of Shares, Ending balance | 527,246 |
Stock Options Number of Shares, Exercisable at the end of the period | 513,496 |
Stock Options Number of Shares, Vested and expected to vest at the end of period | 526,771 |
Common Stock, Capital Shares Reserved for Future Issuance | 478,759 |
Average remaining contractual life (years) [Abstract] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '5 years 2 months 12 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '5 years 1 month 27 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | '5 years 1 month 27 days |
Aggregate Intrinsic Value [Abstract] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $3,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 3,000 |
Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Intrinsic Value At Period End | $0 |
Sharebased_Compensation_Valuat
Share-based Compensation Valuation Assumptions (Details) (Stock Options [Member]) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Options [Member] | ' | ' |
Expected Dividend Yield | 0.00% | 0.00% |
Risk Free Interest Rate | 1.08% | 0.71% |
Expected Option Life | '5 years 1 month 6 days | '5 years 1 month 6 days |
Expected Volatility Factor | 106.40% | 93.30% |
Sharebased_Compensation_Shareb
Share-based Compensation Share-based Compensation Narratives (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Aug. 16, 2012 | Jun. 21, 2012 | Nov. 17, 2011 | |
optionplans | |||||
Share-based Compensation [Abstract] | ' | ' | ' | ' | ' |
Share-based Compensation | $100,000 | $202,000 | ' | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation of Discontinued Operations, Requisite Service Period Recognition, Total. | 0 | -7,000 | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | 0 | 0 | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 19,000 | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '0 years 6 months 29 days | ' | ' | ' | ' |
Number of Option Plans | 2 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Specific Employee Grants, Award Exercise Price as Percentage of Market Value | 110.00% | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Contractual Term | '10 years | ' | ' | ' | ' |
Closing stock price per share | $0.54 | ' | $0.55 | $0.69 | $0.78 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 0 | 0 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $0 | ' | ' | ' | ' |
Share-based Compensation Arrangement be Share-based Payment Award, Options, Outstanding, Expected to Vest, Weighted Average Remaining Contractual Life | '5 years 1 month 25 days | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $0.50 | $1.78 | ' | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income Changes in Accumulated Other Comprehensive Income (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Changes in Accumulated Other Comprehensive Income [Abstract] | ' |
Balance December 31, 2012 | $222 |
Other comprehensive income, before reclassification | 467 |
Amounts reclassified from accumulated other comprehensive income | 296 |
Net current-period change in other comprehensive income | 171 |
Balance December 31, 2013 | $393 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income Reclassifications out of AOCI (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Selling, general and administrative expenses | $10,851 | $11,676 |
Accumulated Net Unrealized Investment Gain (Loss) | Reclassification out of Accumulated Other Comprehensive Income | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Selling, general and administrative expenses | ($296) | ' |
Income_Taxes_Components_of_Inc
Income Taxes (Components of Income Tax Provision (Benefit)) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | ' |
Income tax benefit (provision) – continuing operations at statutory rate | ($2,872) | $2,289 |
Increase in valuation allowance related to income tax expense | 161 | -461 |
State income tax benefit | 34 | 211 |
Taxable gain on sale between entities under common control | 2,619 | 0 |
Other | 60 | -88 |
Income tax benefit – continuing operations | 2 | 1,951 |
Income tax provision – discontinued operations at statutory rate | 0 | -1,656 |
State income taxes – discontinued operations | 0 | -292 |
Income tax provision – discontinued operations | 0 | -1,948 |
Total income tax benefit (provision) | $2 | $3 |
Income_Taxes_Summary_of_Net_De
Income Taxes (Summary of Net Deferred Tax Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' |
Accruals | $1,997 | $1,992 |
Inventories | 420 | 365 |
Other | 477 | 0 |
Net operating loss carryforwards | 4,733 | 4,705 |
General business credit carryforwards | 388 | 403 |
Alternative minimum tax credit carryforwards | 268 | 268 |
Foreign tax credit | 0 | 38 |
Total gross deferred tax assets | 8,283 | 7,771 |
Prepaid expenses | -294 | -251 |
Depreciation | 215 | 130 |
Amortization | -53 | -79 |
Total gross deferred tax liabilities | -132 | -200 |
Valuation allowance | -8,151 | -7,571 |
Net deferred tax assets | $0 | $0 |
Income_Taxes_Income_Taxes_Narr
Income Taxes Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure narrative [Abstract] | ' | ' |
Income Tax Expense (Benefit), Net from Continuing Operations and Discontinued Operations | ($2,000) | ($3,000) |
Income Tax Expense (Benefit), Continuing Operations | -2,000 | -1,951,000 |
Income tax provision - discontinued operations | 0 | 1,948,000 |
Valuation Allowance, Deferred Tax Asset, Change in Amount | 580,000 | ' |
Operating Loss Carryforwards Federal | 13,900,000 | ' |
Oprating Loss Carryforwards, State | 7,300,000 | ' |
Operating Loss Carryforwards, Share-based Compensation | 3,500,000 | ' |
Valuation Allowance, Share-based Compensation | $1,000,000 | ' |
Commitments_Details
Commitments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Future Minimum Lease Payments [Line Items] | ' | ' |
Current portion of capital lease obligation | ($8) | ($13) |
Long-term portion of capital lease obligation | 0 | 8 |
Related Party | ' | ' |
Future Minimum Lease Payments [Line Items] | ' | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 2,386 | ' |
Capital Leases, Future Minimum Payments Due in Two Years | 2,458 | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 2,530 | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 2,421 | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 502 | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 998 | ' |
Operating Leases, Future Minimum Payments Due | 11,295 | ' |
Unrelated Party | ' | ' |
Future Minimum Lease Payments [Line Items] | ' | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 63 | ' |
Leases, Future Minimum Payments Due, Next Twelve Months | 8 | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 16 | ' |
Capital Leases, Future Minimum Payments Due in Two Years | 0 | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 12 | ' |
Capital Leases, Future Minimum Payments Due in Three Years | 0 | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 1 | ' |
Capital Leases, Future Minimum Payments Due in Four Years | 0 | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 0 | ' |
Capital Leases, Future Minimum Payments Due in Five Years | 0 | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 0 | ' |
Capital Leases, Future Minimum Payments Due Thereafter | 0 | ' |
Operating Leases, Future Minimum Payments Due | 92 | ' |
Capital Leases, Future Minimum Payments Due | 8 | ' |
Interest Expense, Lessee, Assets under Capital Lease | 0 | ' |
Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments | 8 | ' |
Current portion of capital lease obligation | -8 | ' |
Long-term portion of capital lease obligation | $0 | ' |
Commitments_Letters_of_credit_
Commitments Letters of credit (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Letters of Credit Outstanding, Amount | $170 | $675 |
Commitments_Purchase_obligatio
Commitments Purchase obligations (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Unrecorded Unconditional Purchase Obligation | $516 |
Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months | $510 |
Commitments_Unrelated_party_ca
Commitments Unrelated party capital lease (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
August 2009 Capital Lease | ' | ' |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leases, Future Minimum Payments Due | $73 | ' |
Assumed interest rate under capital lease | 11.00% | ' |
Interest Expense, Lessee, Assets under Capital Lease | 2 | 3 |
September 2009 Capital Lease | ' | ' |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leases, Future Minimum Payments Due | 120 | ' |
Assumed interest rate under capital lease | 13.00% | ' |
Interest Expense, Lessee, Assets under Capital Lease | ' | $1 |
Commitments_Related_Party_Oper
Commitments Related Party Operating Lease (Details) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Sep. 18, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 30, 2007 | Dec. 31, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Aug. 29, 2008 | Sep. 17, 2010 | Nov. 30, 2007 | Aug. 29, 2008 |
Bedford Lease | Bedford Lease | Bedford Lease | Bedford Lease | Bedford Lease | Bedford Lease | Hudson Lease | Hudson Lease | Hudson Lease | Hudson Lease | Additional 5 Year Lease Term | Inital Lease Term | Inital Lease Term | ||
sqft | sqft | sqft | Bedford Lease | Bedford Lease | Hudson Lease | |||||||||
Operating Leased Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Area of Real Estate Property | ' | ' | ' | ' | 144,000 | ' | 27,000 | ' | ' | ' | 90,000 | ' | ' | ' |
initial term of lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years 0 months 0 days |
Rent Per Square Foot | ' | ' | ' | ' | ' | ' | 16 | ' | ' | ' | ' | 16 | 12.5 | 12.5 |
Rental Rate Increase on Each Anniversary | ' | ' | ' | ' | ' | ' | 0.5 | ' | ' | ' | ' | 0.5 | 0.75 | 0.75 |
right to extend term of lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 0 months 0 days | ' | ' |
Rental rate increase on each annual anniversary for option period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | ' | ' |
term of lease extended | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 0 months 0 days | ' | ' |
Deposit – related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300 | $300 | ' | ' | ' |
Operating Leases, Rent Expense from Continuing Operations | ' | ' | 2,200 | 2,300 | ' | 137 | ' | 0 | 119 | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense from Discontinued Operations | ' | ' | ' | ' | ' | ' | ' | 0 | 134 | ' | ' | ' | ' | ' |
Reimbursement for alterations or improvements to premises | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $50 | ' | ' |
Reduce Lease Space | 19.00% | 19.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Profit_
Employee Benefit Plans Profit Sharing Plan (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Profit Sharing Plans [Abstract] | ' | ' |
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent | 17.50% | ' |
Defined Contribution Plan, Empoyer Matching Contribution, Amount | $174 | $155 |
Employee_Benefit_Plans_Deferre
Employee Benefit Plans Deferred Compensation Plan (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 16, 2012 | Jun. 21, 2012 | Nov. 17, 2011 | Jan. 01, 2002 | |
Deferred Compensation Plan [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Employer Contractual Contribution | ' | ' | ' | ' | ' | ' | $250,000 |
Deferred Compensation, Elected US Dollar Equivalent of Shares | ' | ' | ' | 63,000 | 63,000 | 500,000 | ' |
Closing stock price per share | ' | $0.54 | ' | $0.55 | $0.69 | $0.78 | ' |
Deferred Compensation, Elected Shares Equivalent | ' | ' | ' | 113,636 | 90,580 | 641,025 | ' |
Deferred Compensation, Issued Shares | ' | 145,242 | 500,000 | ' | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Employer Contribution | ' | 84,000 | 384,000 | ' | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Compensation Expense | ' | 250,000 | 250,000 | ' | ' | ' | ' |
Accrued Compensation Expense Related to a Deferred Compensation Plan | ' | 375,000 | 209,000 | ' | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Payment | $1,200,000 | ' | ' | ' | ' | ' | ' |
Loss_Per_Share_Details
Loss Per Share (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Weighted average number of common and common equivalent shares outstanding – basic (in shares) | 9,176,438 | 8,579,027 |
Add: Net additional common shares upon assumed exercise of common stock options | 0 | 0 |
Adjusted weighted average number of common and common equivalents shares outstanding - diluted | 9,176,438 | 8,579,027 |
In Money Stock Options | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 4,842 | 1,490 |
Underwater Stock Options | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 485,246 | 624,446 |
Operating_Segments_and_Related2
Operating Segments and Related Information (Financial Information by Segment) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | $14,581 | $22,110 |
Operating Income (Loss) From Continuing Operations | -8,376 | -6,603 |
Assets of Continuing Operations | 16,069 | 15,907 |
Payments to Acquire Property, Plant, and Equipment | 139 | 143 |
Depreciation, Depletion and Amortization | 509 | 804 |
Share-based Compensation | 100 | 202 |
Spire Solar | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | 7,651 | 15,255 |
Operating Income (Loss) From Continuing Operations | -8,297 | -7,280 |
Assets of Continuing Operations | 6,354 | 7,757 |
Payments to Acquire Property, Plant, and Equipment | 16 | 83 |
Depreciation, Depletion and Amortization | 213 | 369 |
Share-based Compensation | 21 | 61 |
Spire Biomedical | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | 6,930 | 6,855 |
Operating Income (Loss) From Continuing Operations | -79 | 677 |
Assets of Continuing Operations | 1,560 | 1,499 |
Payments to Acquire Property, Plant, and Equipment | 103 | 8 |
Depreciation, Depletion and Amortization | 162 | 208 |
Share-based Compensation | 24 | 43 |
Corporate | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | 0 | 0 |
Operating Income (Loss) From Continuing Operations | 0 | 0 |
Assets of Continuing Operations | 8,155 | 6,651 |
Payments to Acquire Property, Plant, and Equipment | 20 | 52 |
Depreciation, Depletion and Amortization | 134 | 227 |
Share-based Compensation | $55 | $98 |
Operating_Segments_and_Related3
Operating Segments and Related Information (Geographic Area Information) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues | $14,581 | $22,110 |
Revenue, Percentage | 100.00% | 100.00% |
United States | ' | ' |
Revenues | 9,651 | 10,436 |
Revenue, Percentage | 66.00% | 47.00% |
Asia | ' | ' |
Revenues | 2,491 | 7,971 |
Revenue, Percentage | 17.00% | 36.00% |
Europe / Africa | ' | ' |
Revenues | 2,194 | 3,628 |
Revenue, Percentage | 15.00% | 17.00% |
Rest of the World | ' | ' |
Revenues | $245 | $75 |
Revenue, Percentage | 2.00% | 0.00% |
Operating_Segments_and_Related4
Operating Segments and Related Information ( Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
customers | customers | |
Segment Reporting Information [Line Items] | ' | ' |
Concentration risk, government contracts | '707 | '1778 |
The Number Of Customers That Account for 10% or Greater of the Company's Accounts Receivables | 2 | 1 |
Revenue, Percentage 10% or Greater | 10.00% | ' |
Revenues | $14,581 | $22,110 |
Government Contracts | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Concentration risk, percentage | 5.00% | 8.00% |
Customer C | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Percentage Of Total Trade Receivables | 36.00% | 24.00% |
Customer A | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Percentage Of Total Trade Receivables | 17.00% | ' |
Biomedical Service | Customer C | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Concentration risk, percentage | 20.00% | 14.00% |
Biomedical Service | Customer A | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Concentration risk, percentage | 12.00% | ' |
Solar Equipment | Customer J | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Concentration risk, percentage | ' | 12.00% |
INDIA | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue, Percentage 10% or Greater | ' | 10.00% |
Revenues | ' | $2,800 |
Gain_on_Termination_of_Contrac1
Gain on Termination of Contracts (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Gain on Termination of Contracts [Abstract] | ' | ' | ' |
Gain on termination of contracts | $35 | $0 | $35 |
Discontinued_Operations_Narrat
Discontinued Operations Narrative (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 14, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 09, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | |
Medical Products Business Unit | Medical Products Business Unit | Medical Products Business Unit | Semiconductor Business Unit | Semiconductor Business Unit | Semiconductor Business Unit | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Disposal Date | ' | ' | 14-Dec-09 | ' | ' | 9-Mar-12 | ' | ' |
Loss from discontinued operations before sale of business unit | $0 | ($580,000) | ' | $0 | $150,000 | ' | ' | $430,000 |
Business Divestiture, Sale Price | ' | ' | ' | ' | ' | 8,000,000 | ' | ' |
Business Divestiture, Sale Price Allocation, Liabilities Assume | ' | ' | ' | ' | ' | 500,000 | 1,200,000 | ' |
Proceeds from Divestiture of Businesses | ' | ' | ' | ' | ' | ' | 7,300,000 | ' |
Business Divestiture, Cost of Divisiture Entity, Transaction Costs | ' | ' | ' | ' | ' | ' | 425,000 | ' |
Restricted cash | $170,000 | $0 | ' | ' | ' | ' | $718,000 | ' |
Discontinued_Operations_Busine
Discontinued Operations Business Units Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current Assets | ' | ' |
Assets of Disposal Group, Including Discontinued Operation, Current | $0 | $718 |
Current Liabilities | ' | ' |
Total current liabilities of discontinued operations | 21 | 171 |
Medical Products and Semiconductor Business Unit [Member] | ' | ' |
Current Assets | ' | ' |
Restricted cash | 0 | 718 |
Assets of Disposal Group, Including Discontinued Operation, Current | 0 | 718 |
Total Assets of discontinued operations | 0 | 718 |
Current Liabilities | ' | ' |
Accrued liabilities | 21 | 171 |
Total current liabilities of discontinued operations | 21 | 171 |
Total liabilities of discontinued operations | $21 | $171 |
Discontinued_Operations_Busine1
Discontinued Operations Business Unit Operations (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Loss from discontinued operations before sale of business unit | $0 | ($580) |
Gain on sale of business unit, net of transaction expenses | 0 | 5,449 |
Income tax provision | 0 | -1,948 |
Income from discontinued operations, net of tax | 0 | 2,921 |
Medical Products and Semiconductor Business Unit [Member] | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Net sales and revenues | 0 | 425 |
Gross margin | 0 | -296 |
Loss from discontinued operations before sale of business unit | 0 | -580 |
Gain on sale of business unit, net of transaction expenses | 0 | 5,449 |
Income tax provision | 0 | -1,948 |
Income from discontinued operations, net of tax | $0 | $2,921 |
Variable_Interest_Entity_Varia
Variable Interest Entity Variable Interest Entity (Narrative) (Details) (USD $) | 0 Months Ended |
Sep. 18, 2013 | |
sqft | |
N2 Biomedical LLC | ' |
Noncontrolling Interest [Line Items] | ' |
Preferred Stock, Par or Stated Value Per Share | $6.72 |
Area of Real Estate Property | 27,000 |
Area of real estate property percent | 19.00% |
Rent Per Square Foot for First Year | 16 |
Rental Rate Increase on Each Annual Anniversary | 0.5 |
Biomedical Service | ' |
Noncontrolling Interest [Line Items] | ' |
Disposal Date | 18-Sep-13 |
Business Divestiture, Sale Price | $10,500,000 |
Business Divestiture, Sale Price Allocation, Liabilities Assume | 100,000 |
Proceeds from Divestiture of Businesses | 6,000,000 |
Preferred Stock, Shares Outstanding | 310,549 |
Preferred Stock, Value, Issued | 2,100,000 |
Preferred Stock, Par or Stated Value Per Share | $6.72 |
Deemed Dividend | 9,500,000 |
Convertible Debt | Biomedical Service | ' |
Noncontrolling Interest [Line Items] | ' |
Noncash or Part Noncash Divestiture, Amount of Consideration Received | $2,400,000 |
Variable_Interest_Entity_Varia1
Variable Interest Entity Variable Interest Entity Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Current assets | ' | ' | ' | ' |
Cash and cash equivalents, end of period | $3,986 | $3,030 | $3,030 | $4,758 |
Accounts receivable – trade, net | 1,414 | 2,137 | ' | ' |
Inventories, net | 3,816 | 5,316 | ' | ' |
Prepaid expenses and other current assets | 926 | 617 | ' | ' |
Total current assets | 14,696 | 12,072 | ' | ' |
Property and equipment, net | 941 | 1,197 | ' | ' |
Intangible and other assets, net | 432 | 393 | ' | ' |
Total assets | 16,069 | 16,625 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Current portion of term loan | 753 | 0 | ' | ' |
Accounts payable | 2,323 | 1,424 | ' | ' |
Accrued liabilities | 2,336 | 2,221 | ' | ' |
Total current liabilities | 10,992 | 5,456 | ' | ' |
Long-term portion of term loan | 5,064 | 0 | ' | ' |
Other long-term liabilities | 726 | 746 | ' | ' |
Total liabilities | 16,782 | 9,173 | ' | ' |
N2 Biomedical LLC | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents, end of period | 131 | ' | ' | ' |
Accounts receivable – trade, net | 899 | ' | ' | ' |
Due from Related Parties | 24 | ' | ' | ' |
Inventories, net | 22 | ' | ' | ' |
Prepaid expenses and other current assets | 114 | ' | ' | ' |
Total current assets | 1,190 | ' | ' | ' |
Property and equipment, net | 266 | ' | ' | ' |
Intangible and other assets, net | 85 | ' | ' | ' |
Total assets | 1,541 | ' | ' | ' |
Current liabilities | ' | ' | ' | ' |
Current portion of term loan | 753 | ' | ' | ' |
Revolving line of credit | 438 | ' | ' | ' |
Accounts payable | 144 | ' | ' | ' |
Accrued liabilities | 169 | ' | ' | ' |
Total current liabilities | 1,504 | ' | ' | ' |
Long-term portion of term loan | 5,064 | ' | ' | ' |
Long-term note payable to related party | 2,400 | ' | ' | ' |
Other long-term liabilities | 12 | ' | ' | ' |
Total liabilities | $8,980 | ' | ' | ' |