Document_and_Entity_Informatio
Document and Entity Information Document | 6 Months Ended | |
Jun. 30, 2014 | Aug. 05, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
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-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 9,207,874 |
Consolidated_Balance_Sheets_St
Consolidated Balance Sheets Statement (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $985 | $3,986 |
Restricted cash | 666 | 170 |
Available-for-sale investments, at quoted market value (cost of zero and $3,142 at June 30, 2014 and December 31, 2013, respectively) | 0 | 3,535 |
Accounts receivable – trade, net | 1,369 | 1,414 |
Inventories, net | 4,169 | 3,816 |
Deferred cost of goods sold | 27 | 849 |
Deposits Assets, Current | 384 | 0 |
Prepaid expenses and other current assets | 507 | 926 |
Total current assets | 8,107 | 14,696 |
Property and equipment, net | 833 | 941 |
Intangible and other assets, net | 400 | 432 |
Total assets | 9,340 | 16,069 |
Current liabilities | ' | ' |
Current portion of capital lease obligation | 1 | 8 |
Revolving line of credit | 1 | 583 |
Current portion of term loan | 771 | 753 |
Accounts payable | 4,013 | 2,323 |
Accrued liabilities | 2,012 | 2,357 |
Advances on contracts in progress | 1,851 | 1,433 |
Deferred compensation | 0 | 3,535 |
Total current liabilities | 8,649 | 10,992 |
Long-term portion of term loan | 4,674 | 5,064 |
Other long-term liabilities | 873 | 726 |
Total long-term liabilities | 5,547 | 5,790 |
Total liabilities | 14,196 | 16,782 |
Stockholders’ deficit | ' | ' |
Common stock, $0.01 par value; 20,000,000 shares authorized; 9,207,874 shares issued and outstanding on June 30, 2014 and December 31, 2013 | 93 | 93 |
Additional paid-in capital | 23,298 | 23,267 |
Accumulated deficit | -28,981 | -24,422 |
Accumulated other comprehensive income | 0 | 393 |
Total Spire Corporation stockholders' deficit | -5,590 | -669 |
Noncontrolling interest | 734 | -44 |
Total stockholders’ deficit | -4,856 | -713 |
Total liabilities and stockholders’ deficit | $9,340 | $16,069 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Assets | ' | ' |
Available-for-sale investments, at quoted market value, cost | $0 | $3,142 |
Stockholders' Equity: | ' | ' |
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 | 9,207,874 |
Common stock, shares outstanding | 9,207,874 | 9,207,874 |
Consolidated_Statement_of_Oper
Consolidated Statement of Operation Statement (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net sales and revenues | ' | ' | ' | ' |
Sales of goods | $1,850 | $1,467 | $3,039 | $2,437 |
Contract research and service revenues | 1,995 | 2,107 | 4,892 | 4,375 |
Total net sales and revenues | 3,845 | 3,574 | 7,931 | 6,812 |
Cost of sales and revenues | ' | ' | ' | ' |
Cost of goods sold | 2,091 | 1,902 | 3,844 | 3,693 |
Cost of contract research and services | 1,042 | 1,159 | 2,886 | 2,381 |
Total cost of sales and revenues | 3,133 | 3,061 | 6,730 | 6,074 |
Gross margin | 712 | 513 | 1,201 | 738 |
Operating expenses | ' | ' | ' | ' |
Selling, general and administrative expenses | 1,710 | 2,271 | 4,806 | 5,085 |
Internal research and development expenses | 5 | 10 | 27 | 23 |
Total operating expenses | 1,715 | 2,281 | 4,833 | 5,108 |
Loss from operations | -1,003 | -1,768 | -3,632 | -4,370 |
Interest expense, net | -70 | -13 | -145 | -29 |
Foreign exchange loss | -2 | -1 | -2 | -9 |
Total other expense, net | -72 | -14 | -147 | -38 |
Loss from operations before income tax provision | -1,075 | -1,782 | -3,779 | -4,408 |
Income tax provision | -2 | 0 | -2 | -2 |
Net loss | -1,077 | -1,782 | -3,781 | -4,410 |
Less: Net income attributable to noncontrolling interest | 360 | 0 | 778 | 0 |
Net loss attributable to common stockholders | ($1,437) | ($1,782) | ($4,559) | ($4,410) |
Basic and diluted loss per share | ($0.16) | ($0.19) | ($0.50) | ($0.48) |
Weighted average number of common and common equivalent shares outstanding – basic and diluted | 9,207,874 | 9,207,874 | 9,207,874 | 9,144,482 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Comprehensive income (loss): | ' | ' | ' | ' |
Net loss | ($1,077) | ($1,782) | ($3,781) | ($4,410) |
Other comprehensive income: | ' | ' | ' | ' |
Change in fair value of available for sale marketable securities, net of tax | -765 | -132 | -393 | 107 |
Total comprehensive loss | -1,842 | -1,914 | -4,174 | -4,303 |
Less: Comprehensive income attributable to noncontrolling interests | 360 | 0 | 778 | 0 |
Comprehensive loss attributable to common stockholders | ($2,202) | ($1,914) | ($4,952) | ($4,303) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows Statement (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net loss | ($3,781) | ($4,410) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 258 | 243 |
Deferred compensation | -393 | 107 |
Proceeds from Sale of Available-for-sale Securities | 3,931 | 0 |
Deferred Compensation Arrangement with Individual, Payment | -3,931 | 0 |
Share-based compensation | 31 | 77 |
Provision for accounts receivable reserve | 32 | 18 |
Provision for inventory reserve | 63 | 175 |
Changes in assets and liabilities: | ' | ' |
Restricted cash | -496 | 0 |
Accounts receivable | 13 | 666 |
Inventories | -416 | 175 |
Deferred cost of goods sold | 822 | 93 |
Deposits, prepaid expenses and other current assets | 35 | 121 |
Accounts payable, accrued liabilities and other liabilities | 1,492 | 834 |
Advances on contracts in progress | 418 | 138 |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | -1,922 | -1,763 |
Cash Provided by (Used in) Operating Activities, Discontinued Operations | 0 | -150 |
Net cash used in operating activities | -1,922 | -1,913 |
Cash flows from investing activities: | ' | ' |
Purchase of Property and Equipment | -87 | -58 |
Additions to intangible and other assets | -31 | -35 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -118 | -93 |
Cash Provided by (Used in) Investing Activities, Discontinued Operations | 0 | 718 |
Net cash provided by investing activities | -118 | 625 |
Cash flows from financing activities: | ' | ' |
Principal payments on capital lease obligations | -7 | -6 |
Principal payments on term loan | 372 | 0 |
Net payments on revolving lines of credit | -582 | -1 |
Net cash used in financing activities | -961 | -7 |
Net decrease in cash and cash equivalents | -3,001 | -1,295 |
Cash and cash equivalents, beginning of period | 3,986 | 3,030 |
Cash and cash equivalents, end of period | 985 | 1,735 |
Supplemental disclosures of cash flow information: | ' | ' |
Interest paid | 145 | 29 |
Income Taxes Paid | 5 | 1 |
Supplemental disclosure of non-cash flow information [Abstract] | ' | ' |
Liabilities settled with common stock | $0 | $84 |
Description_of_Business
Description of Business | 6 Months Ended |
Jun. 30, 2013 | |
Description of the Business [Abstract] | ' |
Description of the Business | ' |
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 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. 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. | |
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 46% and 41% of net sales and revenues for the three and six months ended June 30, 2014, respectively, and 37% and 34% of net sales and revenues for the three and six months ended June 30, 2013, respectively, continue to constitute a significant portion of the Company's net sales and revenues. | |
The Company has incurred losses from operations. Losses from operations were $1.0 million and $3.6 million for the three and six months ended June 30, 2014, respectively. Losses from operations were $1.8 million and $4.4 million for the three and six months ended June 30, 2013, respectively. Net cash used in operating activities was $1.9 million for the six months ended June 30, 2014. Net cash used in operating activities was $1.9 million for the six months ended June 30, 2013, which includes $150 thousand of cash used in operating activities of discontinued operations. As of June 30, 2014, the Company had unrestricted cash and cash equivalents of $1.0 million compared to $4.0 million as of December 31, 2013. The Company's credit facilities with Silicon Valley Bank expired on April 30, 2014 and will not be renewed, and the Company has repaid the outstanding amounts. 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 June 30, 2014, will be sufficient to fund its operations into the second half of 2014; however, the Company cannot provide any assurances of its continued operations and liquidity. | |
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, private lenders, 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 or alternative financing, sell or license assets or technology or enter into such joint ventures on a timely basis and at appropriate values or on acceptable terms, if at all. The Company has developed several plans including potential strategic alternatives, cost reduction efforts and expanding revenue in other 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 markets or to replace its expired credit facilities, could adversely impact the Company's ability to continue as a going concern. | |
The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Interim_Financial_Statements
Interim Financial Statements | 6 Months Ended |
Jun. 30, 2014 | |
Interim Financial Statements [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure | ' |
Interim Financial Statements | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted in accordance with such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and notes thereto for the year ended December 31, 2013, included in the Company’s Annual Report on Form 10-K filed with the SEC. | |
In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to fairly present the Company’s financial position as of June 30, 2014 and December 31, 2013 and the results of operations for the three and six months ended June 30, 2014 and 2013. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2014. The unaudited condensed consolidated balance sheet as of December 31, 2013 has been derived from audited financial statements as of that date. | |
Summary of Significant Accounting Policies | |
With the exception of the Company's revenue recognition policy which has been updated below, the significant accounting policies followed by the Company are set forth in Note 2 to the Company’s consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2013, filed with the SEC on March 31, 2014. | |
Revenue Recognition | |
The Company derives its revenues from continuing operations from three primary sources: (1) sales of commercial products including, but not limited to, solar energy manufacturing equipment; (2) biomedical and coating technology 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 biomedical services provides advanced medical device surface treatment processes for performance improvement of orthopedic devices. The Company's coating technology services are provided to both industrial and consumer electronic applications. 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. | |
New Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this ASU affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The guidance in this ASU supersedes the revenue recognition requirements in Accounting Standards Codification ("ASC") No. 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, this ASU supersedes some cost guidance included in ASC No. 605-35, Revenue Recognition-Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer are amended to be consistent with the guidance on recognition and measurement in this ASU. For a public entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Retrospective application of the amendments in this ASU are required. The new guidance must be adopted using either a full retrospective approach for all periods presented in the period of adoption (with some limited relief provided) or a modified retrospective approach. Early application is not permitted under GAAP. The Company is currently assessing the impact of this ASU on its unaudited condensed consolidated financial statements. | |
In July 2013, the FASB issued 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 application of this ASU did not have an impact on the Company's unaudited condensed consolidated financial statements. |
Accounts_ReceivableAdvances_on
Accounts Receivable/Advances on Contracts in Progress | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Accounts Receivable and Advances on Contracts in Progress [Abstract] | ' | |||||||
Accounts Receivables and Advances on Contracts in Progress | ' | |||||||
Accounts Receivable/Advances on Contracts in Progress | ||||||||
Net accounts receivable, trade and advances on contracts in progress consists of the following: | ||||||||
(in thousands) | June 30, 2014 | December 31, 2013 | ||||||
Amounts billed | $ | 1,383 | $ | 1,396 | ||||
Accrued revenue | 18 | 18 | ||||||
Gross accounts receivable - trade | 1,401 | 1,414 | ||||||
Less: Allowance for doubtful accounts | (32 | ) | — | |||||
Net accounts receivable - trade | $ | 1,369 | $ | 1,414 | ||||
Advances on contracts in progress | $ | 1,851 | $ | 1,433 | ||||
Accrued revenue represents revenues recognized on contracts for which billings have not been presented to customers as of the balance sheet date. | ||||||||
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 collection 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. | ||||||||
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 | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Inventories and Deferred Costs of Goods Sold [Abstract] | ' | |||||||
Inventory and Deferred Costs of Goods Sold [Text Block] | ' | |||||||
Inventories and Deferred Costs of Goods Sold | ||||||||
Inventories, net of $1.1 million and $1.0 million of reserves at June 30, 2014 and December 31, 2013, respectively, and deferred cost of goods sold consist of the following at: | ||||||||
(in thousands) | June 30, | December 31, | ||||||
2014 | 2013 | |||||||
Raw materials | $ | 1,047 | $ | 1,310 | ||||
Work in process | 2,721 | 2,004 | ||||||
Finished goods | 401 | 502 | ||||||
Net inventory | $ | 4,169 | $ | 3,816 | ||||
Deferred cost of goods sold | $ | 27 | $ | 849 | ||||
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. |
Loss_Per_Share
Loss Per Share | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
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 periods ended: | ||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Weighted average number of common and common equivalent shares outstanding – basic and diluted | 9,207,874 | 9,207,874 | 9,207,874 | 9,144,482 | ||||||||
For the three and six months ended June 30, 2014, 21,751 and 21,289 shares of common stock, respectively, and for the three and six months ended June 30, 2013, 3,554 and 4,375 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 three and six months ended June 30, 2014, 543,122 and 543,122 shares of common stock, respectively, and for the three and six months ended June 30, 2013, 660,446 and 660,446 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 net loss position and their exercise prices exceeding the average market price of the stock for the period. |
Operating_Segments_and_Related
Operating Segments and Related Information | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
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 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 13 to the unaudited condensed consolidated financial statements. | ||||||||||||||||||||||||||||
The following table presents certain operating division information in accordance with the provisions of ASC 280, Segments Reporting. | ||||||||||||||||||||||||||||
(in thousands) | Solar | Biomedical | Consolidated | |||||||||||||||||||||||||
For the three months ended June 30, 2014 | ||||||||||||||||||||||||||||
Net sales and revenues | $ | 2,155 | $ | 1,690 | 3,845 | |||||||||||||||||||||||
Income (loss) from operations | $ | (1,499 | ) | $ | 496 | (1,003 | ) | |||||||||||||||||||||
For the three months ended June 30, 2013 | ||||||||||||||||||||||||||||
Net sales and revenues | $ | 1,892 | $ | 1,682 | 3,574 | |||||||||||||||||||||||
Income (loss) from operations | $ | (1,938 | ) | $ | 170 | (1,768 | ) | |||||||||||||||||||||
For the six months ended June 30, 2014 | ||||||||||||||||||||||||||||
Net sales and revenues | $ | 4,398 | $ | 3,533 | $ | 7,931 | ||||||||||||||||||||||
Income (loss) from operations | $ | (4,685 | ) | $ | 1,053 | $ | (3,632 | ) | ||||||||||||||||||||
For the six months ended June 30, 2013 | ||||||||||||||||||||||||||||
Net sales and revenues | $ | 3,338 | $ | 3,474 | $ | 6,812 | ||||||||||||||||||||||
Income (loss) from operations | $ | (4,730 | ) | $ | 360 | $ | (4,370 | ) | ||||||||||||||||||||
Income (loss) from operations is net sales and revenues less cost of sales, selling, general and administrative expenses and internal research and development, but is not affected by non-operating income (expense) or by income taxes. In calculating income (loss) from 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): | ||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||
(in thousands) | 2014 | % | 2013 | % | 2014 | % | 2013 | % | ||||||||||||||||||||
United States | $ | 2,077 | 54 | % | $ | 2,261 | 63 | % | $ | 4,687 | 59 | % | $ | 4,534 | 66 | % | ||||||||||||
Asia | 1,389 | 36 | 662 | 19 | 2,117 | 27 | 1,271 | 19 | ||||||||||||||||||||
Europe/Africa | 351 | 9 | 454 | 13 | 918 | 11 | 790 | 12 | ||||||||||||||||||||
Rest of the world | 28 | 1 | 197 | 5 | 209 | 3 | 217 | 3 | ||||||||||||||||||||
$ | 3,845 | 100 | % | $ | 3,574 | 100 | % | $ | 7,931 | 100 | % | $ | 6,812 | 100 | % | |||||||||||||
Revenues from contracts with United States government agencies for the three months ended June 30, 2014 and 2013 were approximately $201 thousand and $197 thousand or 5% and 6% of total net sales and revenues, respectively. | ||||||||||||||||||||||||||||
Revenues from contracts with United States government agencies for the six months ended June 30, 2014 and 2013 were approximately $202 thousand and $643 thousand or 3% and 9% of total net sales and revenues, respectively. | ||||||||||||||||||||||||||||
Revenues from the delivery of solar equipment to one customer accounted for 28% and revenues from the delivery of biomedical services to two customers accounted for 18% and 15% of total net sales and revenues for the three months ended June 30, 2014. | ||||||||||||||||||||||||||||
Revenues from the delivery of solar equipment to one customer accounted for 20% and revenues from the delivery of biomedical services to two customers accounted for 18% and 17% of total net sales and revenues for the six months ended June 30, 2014. Revenues from the delivery of equipment research and development to one customer accounted for 16% of total net sales and revenues for the six months ended June 30, 2014. | ||||||||||||||||||||||||||||
Revenues from the delivery of biomedical services to two customers accounted for 20% and 11% of total net sales and revenues for the three months ended June 30, 2013. | ||||||||||||||||||||||||||||
Revenues from the delivery of biomedical services to two customers accounted for 21% and 13% of total net sales and revenues for the six months ended June 30, 2013. | ||||||||||||||||||||||||||||
Three customers represented approximately 27%, 20% and 18% , respectively, of net accounts receivable, trade at June 30, 2014 and two customers represented approximately 36% and 17% of net accounts receivable, trade at December 31, 2013. |
Intangible_and_Other_Assets
Intangible and Other Assets | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Intangible and Other Assets [Abstract] | ' | ||||
Intangible and Other Assets | ' | ||||
Intangible and Other Assets | |||||
Patents amounted to $70 thousand and $62 thousand, net of accumulated amortization of $895 thousand and $871 thousand, at June 30, 2014 and December 31, 2013, respectively. Licenses amounted to $71 thousand and $110 thousand, net of accumulated amortization of $77 thousand and $38 thousand, at June 30, 2014 and December 31, 2013, respectively. Patent cost is primarily composed of costs associated with securing and registering patents that the Company has been awarded or that have been submitted to the U.S. Patent and Trademark Office, and the Company believes will be approved. 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, relating to patents and licenses, was approximately $31 thousand and $14 thousand for the three months ended June 30, 2014 and 2013, respectively. Amortization expense, relating to patents and licenses, was approximately $63 thousand and $27 thousand for the six months ended June 30, 2014 and 2013, respectively. | |||||
For disclosure purposes, 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 June 30, 2014 of $109 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 remaining 6 months | $ | 53 | |||
2015 | 51 | ||||
2016 | 38 | ||||
2017 | 33 | ||||
2018 | 33 | ||||
2019 | 19 | ||||
2020 and future | 23 | ||||
$ | 250 | ||||
Also included in other assets are refundable deposits made by the Company of approximately $150 thousand and $150 thousand at June 30, 2014 and December 31, 2013, respectively. |
AvailableforSale_Investments
Available-for-Sale Investments | 6 Months Ended |
Jun. 30, 2014 | |
Available-for-Sale Investments [Abstract] | ' |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure | ' |
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 zero and $393 thousand as of June 30, 2014 and December 31, 2013, respectively. During the six months ended June 30, 2014, the Company recorded a realized gain on the sale of available-for-sale investments of $541 thousand. The participant of the deferred compensation plan retired as Chief Executive Officer and President of the Company on December 31, 2013. The participant received deferred compensation payments of approximately $1.2 million in January 2014 and $2.8 million in May 2014, which was funded by the sale of these securities. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
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 the six months ended June 30, 2014, none of the Company's instruments were reclassified between Level 1, Level 2, Level 3 and there have been no changes in valuation techniques. Also, as of June 30, 2014, all investments have been sold and the remaining fair value is zero. | ||||||||||||||||
The following table presents the financial instruments related to the Company’s available-for-sale investment carried at fair value on a recurring basis as of December 31, 2013 by ASC 820-10 valuation hierarchy (as defined above). | ||||||||||||||||
(in thousands) | Balance as 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 Total | 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 | % | — | % | ||||||||
(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 unaudited condensed consolidated balance sheets. | |||||||||||||||
The carrying amounts reflected in the Company's unaudited condensed consolidated balance sheets for cash, accounts receivable - trade, prepaid expenses and other current assets, accounts payable, accrued liabilities, and capital lease obligations approximate fair value due to their short-term nature and the Company valuation techniques use Level 3 inputs. The fair value of the Company's term loan and revolving lines of credit have 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 approximate fair value at June 30, 2014 and December 31, 2013 and the Company's valuation techniques use Level 3 inputs. |
Notes_Payable_and_Credit_Arran
Notes Payable and Credit Arrangements | 6 Months Ended |
Jun. 30, 2014 | |
Notes Payable and Credit Arrangements [Abstract] | ' |
Debt Disclosure | ' |
Notes Payable and Credit Arrangements | |
Prior to their expiration on April 30, 2014, the Company had 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 were guaranteed by the Export-Import Bank of the United States (the “EXIM Bank”). The credit facilities provided an aggregate amount of $1.5 million under both facilities, with up to $1.0 million under the Revolving Credit Facility and up to $1.5 million under the Ex-Im Facility. Under the credit facilities, interest on outstanding borrowings accrued at a rate per annum equal to the greater of (i) the prime rate plus 2.5% or (ii) 7.0%. The entire amount owed under the credit facilities was repaid by April 30, 2014. | |
N2 Bio 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 May 31, 2015. | |
N2 Bio's obligations under the credit facility are 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 facility with MSB are repaid, covenants under the credit facility 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 facility 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 Revolving Credit Facility were zero and $107 thousand at June 30, 2014 and December 31, 2013, respectively. Advances outstanding under the Ex-Im Facility were zero and $38 thousand at June 30, 2014 and December 31, 2013, respectively. Advances outstanding under the N2 Bio Secured Term Loan were $5.4 million and $5.8 million at June 30, 2014 and December 31, 2013, respectively. Advances outstanding under the N2 Bio Secured Revolving Demand Note were $1 thousand and $438 thousand at June 30, 2014 and December 31, 2013, respectively. The interest rate per annum on the N2 Bio Secured Term Loan and Secured Revolving Demand Note on June 30, 2014 was 4.5% and 3.75%, respectively. Availability under the Secured Revolving Demand Note was $537 thousand as of June 30, 2014. | |
The Company has outstanding letters of credit to secure performance obligations and purchase commitments. Holders of the letters of credit are allowed 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 are secured by restricted cash. Outstanding letters of credit totaled $666 thousand and $170 thousand at June 30, 2014 and December 31, 2013, respectively. |
Sharebased_Compensation
Share-based Compensation | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
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 of approximately $31 thousand and $77 thousand for the six months ended June 30, 2014 and 2013, respectively. The total non-cash, share-based compensation expense included in the unaudited condensed consolidated statements of operations for the periods presented is included in the following expense categories: | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Cost of contract research, services | $ | — | $ | 5 | $ | — | $ | 10 | ||||||||
Cost of goods sold | — | 4 | — | 7 | ||||||||||||
Administrative and selling | 23 | 32 | 31 | 60 | ||||||||||||
Total share-based compensation | $ | 23 | $ | 41 | $ | 31 | $ | 77 | ||||||||
No share-based compensation expense was capitalized during the six months ended June 30, 2014 and 2013. Compensation expense related to stock options to be charged in future periods amounts to approximately $3 thousand at June 30, 2014 and will be recognized over a weighted-average period of 0.10 years as follows: | ||||||||||||||||
For the years ended December 31, | Expected | |||||||||||||||
Compensation Expense | ||||||||||||||||
(in thousands) | ||||||||||||||||
2014 | $ | 3 | ||||||||||||||
$ | 3 | |||||||||||||||
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 June 30, 2014, the Company had outstanding options under two option plans: the 1996 Equity Incentive Plan (the “1996 Plan”) and the 2007 Stock Equity Plan (the “2007 Plan”, together with the 1996 Plan, 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 June 30, 2014 and changes during the six-month period ended June 30, 2014 is as follows: | ||||||||||||||||
Number of Shares | Weighted-Average Exercise Price | Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value (in thousands) | |||||||||||||
Options Outstanding at December 31, 2013 | 527,246 | $ | 5.88 | |||||||||||||
Granted | 24,000 | $ | 0.85 | |||||||||||||
Exercised | — | $ | — | |||||||||||||
Cancelled/expired | (8,124 | ) | $ | 6.24 | ||||||||||||
Options outstanding at June 30, 2014 | 543,122 | $ | 5.65 | 4.95 | $ | 7 | ||||||||||
Options vested and exercisable at June 30, 2014 | 530,622 | $ | 5.69 | 4.92 | $ | 7 | ||||||||||
Option vested and expected to vest at June 30, 2014 | 542,678 | $ | 5.68 | 4.93 | $ | 13 | ||||||||||
Options available for future grant at June 30, 2014 | 459,759 | |||||||||||||||
The aggregate intrinsic value in the table above represents the total intrinsic value, based on the Company’s closing stock price of $0.65 as of June 30, 2014, 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 six months ended June 30, 2014 and 2013, respectively. The total intrinsic value of options expected to vest at June 30, 2014 was approximately zero, and the weighted average remaining contractual life of outstanding options that are expected to vest is 5.1 years. | ||||||||||||||||
The per-share weighted-average fair value of stock options granted during the three and six months ended June 30, 2014 was $0.68 and $0.85, respectively, and $0.58 and $0.58 for the three and six months ended June 30, 2013, respectively, on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: | ||||||||||||||||
Period | Expected | Risk-Free | Expected | Expected | ||||||||||||
Dividend Yield | Interest Rate | Option Life | Volatility Factor | |||||||||||||
Three Months Ended June 30, 2014 | — | 1.70% | 5.1 years | 120.20% | ||||||||||||
Six Months Ended June 30, 2014 | — | 1.61% | 5.1 years | 104.60% | ||||||||||||
Three Months Ended June 30, 2013 | — | 0.77% | 5.1 years | 99.70% | ||||||||||||
Six Months Ended June 30, 2013 | — | 0.77% | 5.1 years | 99.70% | ||||||||||||
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) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Accumulated Other Comprehensive Income [Abstract] | ' | ||||
Comprehensive Income (Loss) Note [Text Block] | ' | ||||
Accumulated Other Comprehensive Income | |||||
Changes in accumulated other comprehensive income balances by component for the six months ended June 30, 2014 consisted of the following: | |||||
(in thousands) | Unrealized Gains (Losses) on Available for Sale Securities | ||||
Balance, December 31, 2013 | $ | 393 | |||
Change in other comprehensive income before reclassification | 148 | ||||
Amounts reclassified from accumulated other comprehensive income | (541 | ) | |||
Net current-period other comprehensive income | (393 | ) | |||
Balance, June 30, 2014 | $ | — | |||
Reporting reclassifications out of accumulated other comprehensive income for the six months ended June 30, 2014 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 (losses) on available-for-sale investments | $ | 541 | Selling, general and administrative expenses | ||
Variable_Interest_Entity_Notes
Variable Interest Entity (Notes) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Variable Interest Entity [Abstract] | ' | |||||||
Consolidation, Variable Interest Entity, Policy | ' | |||||||
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 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, Chairman of the Board of Directors 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. | ||||||||
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. | ||||||||
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. The assets of N2 Bio can only be used to settle the obligations of N2 Bio and there is no recourse to the Company related to the third party obligations of or third party arrangements entered into by N2 Bio. 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 from the VIE included in the condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013 are as follows: | ||||||||
(in thousands) | June 30, 2014 | December 31, 2013 | ||||||
Assets of VIE | ||||||||
Current Assets | ||||||||
Cash and cash equivalents | $ | 198 | $ | 131 | ||||
Accounts receivable trade, net | 841 | 899 | ||||||
Due from related parties | — | 24 | ||||||
Inventories, net | 36 | 22 | ||||||
Prepaid expenses and other current assets | 176 | 114 | ||||||
Total current assets of VIE | 1,251 | 1,190 | ||||||
Property and equipment, net | 282 | 266 | ||||||
Intangible & other assets, net | 81 | 85 | ||||||
Total assets of VIE | $ | 1,614 | $ | 1,541 | ||||
Liabilities of VIE | ||||||||
Current liabilities | ||||||||
Revolving line of credit | $ | 1 | $ | 438 | ||||
Current portion of term loan | 771 | 753 | ||||||
Accounts payable | 33 | 144 | ||||||
Due to related parties | 34 | — | ||||||
Accrued liabilities | 138 | 169 | ||||||
Total current liabilities of VIE | 977 | 1,504 | ||||||
Long-term portion of term loan | 4,674 | 5,064 | ||||||
Long-term note payable to related party | 2,400 | 2,400 | ||||||
Other long-term liabilities | 32 | 12 | ||||||
Total liabilities of VIE | $ | 8,083 | $ | 8,980 | ||||
Subsequent_Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
The Company evaluated subsequent events through the date of this filing and had no subsequent events to report. |
Accounts_ReceivableAdvances_on1
Accounts Receivable/Advances on Contracts in Progress (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Accounts Receivable and Advances on Contracts in Progress [Abstract] | ' | |||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | ' | |||||||
Net accounts receivable, trade and advances on contracts in progress consists of the following: | ||||||||
(in thousands) | June 30, 2014 | December 31, 2013 | ||||||
Amounts billed | $ | 1,383 | $ | 1,396 | ||||
Accrued revenue | 18 | 18 | ||||||
Gross accounts receivable - trade | 1,401 | 1,414 | ||||||
Less: Allowance for doubtful accounts | (32 | ) | — | |||||
Net accounts receivable - trade | $ | 1,369 | $ | 1,414 | ||||
Advances on contracts in progress | $ | 1,851 | $ | 1,433 | ||||
Inventories_and_Deferred_Costs1
Inventories and Deferred Costs of Goods Sold (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Inventories and Deferred Costs of Goods Sold [Abstract] | ' | |||||||
Schedule of Inventories and Deferred Costs of Goods Sold [Table Text Block] | ' | |||||||
Inventories, net of $1.1 million and $1.0 million of reserves at June 30, 2014 and December 31, 2013, respectively, and deferred cost of goods sold consist of the following at: | ||||||||
(in thousands) | June 30, | December 31, | ||||||
2014 | 2013 | |||||||
Raw materials | $ | 1,047 | $ | 1,310 | ||||
Work in process | 2,721 | 2,004 | ||||||
Finished goods | 401 | 502 | ||||||
Net inventory | $ | 4,169 | $ | 3,816 | ||||
Deferred cost of goods sold | $ | 27 | $ | 849 | ||||
Loss_Per_Share_Tables
Loss Per Share (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
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 periods ended: | ||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Weighted average number of common and common equivalent shares outstanding – basic and diluted | 9,207,874 | 9,207,874 | 9,207,874 | 9,144,482 | ||||||||
Operating_Segments_and_Related1
Operating Segments and Related Information (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
Operating Segments and Related Information [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | |||||||||||||||||||||||||||
The following table presents certain operating division information in accordance with the provisions of ASC 280, Segments Reporting. | ||||||||||||||||||||||||||||
(in thousands) | Solar | Biomedical | Consolidated | |||||||||||||||||||||||||
For the three months ended June 30, 2014 | ||||||||||||||||||||||||||||
Net sales and revenues | $ | 2,155 | $ | 1,690 | 3,845 | |||||||||||||||||||||||
Income (loss) from operations | $ | (1,499 | ) | $ | 496 | (1,003 | ) | |||||||||||||||||||||
For the three months ended June 30, 2013 | ||||||||||||||||||||||||||||
Net sales and revenues | $ | 1,892 | $ | 1,682 | 3,574 | |||||||||||||||||||||||
Income (loss) from operations | $ | (1,938 | ) | $ | 170 | (1,768 | ) | |||||||||||||||||||||
For the six months ended June 30, 2014 | ||||||||||||||||||||||||||||
Net sales and revenues | $ | 4,398 | $ | 3,533 | $ | 7,931 | ||||||||||||||||||||||
Income (loss) from operations | $ | (4,685 | ) | $ | 1,053 | $ | (3,632 | ) | ||||||||||||||||||||
For the six months ended June 30, 2013 | ||||||||||||||||||||||||||||
Net sales and revenues | $ | 3,338 | $ | 3,474 | $ | 6,812 | ||||||||||||||||||||||
Income (loss) from operations | $ | (4,730 | ) | $ | 360 | $ | (4,370 | ) | ||||||||||||||||||||
Revenues By Geography | ' | |||||||||||||||||||||||||||
The following table shows net sales and revenues by geographic area (based on customer location): | ||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||
(in thousands) | 2014 | % | 2013 | % | 2014 | % | 2013 | % | ||||||||||||||||||||
United States | $ | 2,077 | 54 | % | $ | 2,261 | 63 | % | $ | 4,687 | 59 | % | $ | 4,534 | 66 | % | ||||||||||||
Asia | 1,389 | 36 | 662 | 19 | 2,117 | 27 | 1,271 | 19 | ||||||||||||||||||||
Europe/Africa | 351 | 9 | 454 | 13 | 918 | 11 | 790 | 12 | ||||||||||||||||||||
Rest of the world | 28 | 1 | 197 | 5 | 209 | 3 | 217 | 3 | ||||||||||||||||||||
$ | 3,845 | 100 | % | $ | 3,574 | 100 | % | $ | 7,931 | 100 | % | $ | 6,812 | 100 | % | |||||||||||||
Intangible_and_Other_Assets_Ta
Intangible and Other Assets (Tables) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Intangible and Other Assets [Abstract] | ' | ||||
Schedule of Expected Amortization Expense | ' | ||||
For disclosure purposes, 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 June 30, 2014 of $109 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 remaining 6 months | $ | 53 | |||
2015 | 51 | ||||
2016 | 38 | ||||
2017 | 33 | ||||
2018 | 33 | ||||
2019 | 19 | ||||
2020 and future | 23 | ||||
$ | 250 | ||||
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Measurements (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
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 investment carried at fair value on a recurring basis as of December 31, 2013 by ASC 820-10 valuation hierarchy (as defined above). | ||||||||||||||||
(in thousands) | Balance as 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 Total | 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 | % | — | % | ||||||||
(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 unaudited condensed consolidated balance sheets. |
Sharebased_Compensation_Tables
Share-based Compensation (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||
The per-share weighted-average fair value of stock options granted during the three and six months ended June 30, 2014 was $0.68 and $0.85, respectively, and $0.58 and $0.58 for the three and six months ended June 30, 2013, respectively, on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: | ||||||||||||||||
Period | Expected | Risk-Free | Expected | Expected | ||||||||||||
Dividend Yield | Interest Rate | Option Life | Volatility Factor | |||||||||||||
Three Months Ended June 30, 2014 | — | 1.70% | 5.1 years | 120.20% | ||||||||||||
Six Months Ended June 30, 2014 | — | 1.61% | 5.1 years | 104.60% | ||||||||||||
Three Months Ended June 30, 2013 | — | 0.77% | 5.1 years | 99.70% | ||||||||||||
Six Months Ended June 30, 2013 | — | 0.77% | 5.1 years | 99.70% | ||||||||||||
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. | ||||||||||||||||
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 of approximately $31 thousand and $77 thousand for the six months ended June 30, 2014 and 2013, respectively. The total non-cash, share-based compensation expense included in the unaudited condensed consolidated statements of operations for the periods presented is included in the following expense categories: | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Cost of contract research, services | $ | — | $ | 5 | $ | — | $ | 10 | ||||||||
Cost of goods sold | — | 4 | — | 7 | ||||||||||||
Administrative and selling | 23 | 32 | 31 | 60 | ||||||||||||
Total share-based compensation | $ | 23 | $ | 41 | $ | 31 | $ | 77 | ||||||||
No share-based compensation expense was capitalized during the six months ended June 30, 2014 and 2013. Compensation expense related to stock options to be charged in future periods amounts to approximately $3 thousand at June 30, 2014 and will be recognized over a weighted-average period of 0.10 years as follows: | ||||||||||||||||
For the years ended December 31, | Expected | |||||||||||||||
Compensation Expense | ||||||||||||||||
(in thousands) | ||||||||||||||||
2014 | $ | 3 | ||||||||||||||
$ | 3 | |||||||||||||||
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 June 30, 2014 and changes during the six-month period ended June 30, 2014 is as follows: | ||||||||||||||||
Number of Shares | Weighted-Average Exercise Price | Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value (in thousands) | |||||||||||||
Options Outstanding at December 31, 2013 | 527,246 | $ | 5.88 | |||||||||||||
Granted | 24,000 | $ | 0.85 | |||||||||||||
Exercised | — | $ | — | |||||||||||||
Cancelled/expired | (8,124 | ) | $ | 6.24 | ||||||||||||
Options outstanding at June 30, 2014 | 543,122 | $ | 5.65 | 4.95 | $ | 7 | ||||||||||
Options vested and exercisable at June 30, 2014 | 530,622 | $ | 5.69 | 4.92 | $ | 7 | ||||||||||
Option vested and expected to vest at June 30, 2014 | 542,678 | $ | 5.68 | 4.93 | $ | 13 | ||||||||||
Options available for future grant at June 30, 2014 | 459,759 | |||||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Accumulated Other Comprehensive Income [Abstract] | ' | ||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | ||||
Changes in accumulated other comprehensive income balances by component for the six months ended June 30, 2014 consisted of the following: | |||||
(in thousands) | Unrealized Gains (Losses) on Available for Sale Securities | ||||
Balance, December 31, 2013 | $ | 393 | |||
Change in other comprehensive income before reclassification | 148 | ||||
Amounts reclassified from accumulated other comprehensive income | (541 | ) | |||
Net current-period other comprehensive income | (393 | ) | |||
Balance, June 30, 2014 | $ | — | |||
Reclassification Out Of Accumulated Other Comprehensive Income | ' | ||||
Reporting reclassifications out of accumulated other comprehensive income for the six months ended June 30, 2014 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 (losses) on available-for-sale investments | $ | 541 | Selling, general and administrative expenses | ||
Variable_Interest_Entity_Table
Variable Interest Entity (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Variable Interest Entity [Abstract] | ' | |||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | |||||||
The assets and liabilities from the VIE included in the condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013 are as follows: | ||||||||
(in thousands) | June 30, 2014 | December 31, 2013 | ||||||
Assets of VIE | ||||||||
Current Assets | ||||||||
Cash and cash equivalents | $ | 198 | $ | 131 | ||||
Accounts receivable trade, net | 841 | 899 | ||||||
Due from related parties | — | 24 | ||||||
Inventories, net | 36 | 22 | ||||||
Prepaid expenses and other current assets | 176 | 114 | ||||||
Total current assets of VIE | 1,251 | 1,190 | ||||||
Property and equipment, net | 282 | 266 | ||||||
Intangible & other assets, net | 81 | 85 | ||||||
Total assets of VIE | $ | 1,614 | $ | 1,541 | ||||
Liabilities of VIE | ||||||||
Current liabilities | ||||||||
Revolving line of credit | $ | 1 | $ | 438 | ||||
Current portion of term loan | 771 | 753 | ||||||
Accounts payable | 33 | 144 | ||||||
Due to related parties | 34 | — | ||||||
Accrued liabilities | 138 | 169 | ||||||
Total current liabilities of VIE | 977 | 1,504 | ||||||
Long-term portion of term loan | 4,674 | 5,064 | ||||||
Long-term note payable to related party | 2,400 | 2,400 | ||||||
Other long-term liabilities | 32 | 12 | ||||||
Total liabilities of VIE | $ | 8,083 | $ | 8,980 | ||||
Description_of_Business_Detail
Description of Business (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | ||||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
factories | factories | ||||||
countries | countries | ||||||
Description of the Business [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Number of Factories | ' | 200 | ' | 200 | ' | ' | ' |
Number of Countries | ' | 50 | ' | 50 | ' | ' | ' |
Export Sales, Percentage | ' | 46.00% | 37.00% | 41.00% | 34.00% | ' | ' |
Operating Income (Loss) from continuing operations | ' | ($1,003) | ($1,768) | ($3,632) | ($4,370) | ' | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | -1,922 | -1,913 | ' | ' |
Cash Provided by (Used in) Operating Activities, Discontinued Operations | ' | ' | ' | 0 | -150 | ' | ' |
Cash and cash equivalents | ' | $985 | $1,735 | $985 | $1,735 | $3,986 | $3,030 |
Line of credit facility, expiration date | 30-Apr-14 | ' | ' | ' | ' | ' | ' |
Interim_Financial_Statements_D
Interim Financial Statements (Details) (Biomedical Service) | 0 Months Ended |
Sep. 18, 2013 | |
Biomedical Service | ' |
Disposal Date | 18-Sep-13 |
Accounts_ReceivableAdvances_on2
Accounts Receivable/Advances on Contracts in Progress (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts Receivable and Advances on Contracts in Progress [Abstract] | ' | ' |
Amounts billed | $1,383 | $1,396 |
Accrued revenue | 18 | 18 |
Gross accounts receivable - trade | 1,401 | 1,414 |
Less: Allowance for doubtful accounts | -32 | 0 |
Net accounts receivable - trade | 1,369 | 1,414 |
Advances on contracts in progress | $1,851 | $1,433 |
Inventories_and_Deferred_Costs2
Inventories and Deferred Costs of Goods Sold (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Inventories and Deferred Costs of Goods Sold [Abstract] | ' | ' |
Inventory valuation reserves | $1,100,000 | $1,000,000 |
Raw materials | 1,047,000 | 1,310,000 |
Work in process | 2,721,000 | 2,004,000 |
Finished goods | 401,000 | 502,000 |
Net inventory | 4,169,000 | 3,816,000 |
Deferred cost of goods sold | $27,000 | $849,000 |
Loss_Per_Share_Details
Loss Per Share (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Weighted average number of common and common equivalent shares outstanding – basic and diluted | 9,207,874 | 9,207,874 | 9,207,874 | 9,144,482 |
In money stock options | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 21,751 | 3,554 | 21,289 | 4,375 |
Underwater stock options | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 543,122 | 660,446 | 543,122 | 660,446 |
Operating_Segments_and_Related2
Operating Segments and Related Information Sales and Revenue by Segment (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales and revenues | $3,845 | $3,574 | $7,931 | $6,812 |
Income (loss) from operations | -1,003 | -1,768 | -3,632 | -4,370 |
Solar | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales and revenues | 2,155 | 1,892 | 4,398 | 3,338 |
Income (loss) from operations | -1,499 | -1,938 | -4,685 | -4,730 |
Biomedical | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales and revenues | 1,690 | 1,682 | 3,533 | 3,474 |
Income (loss) from operations | $496 | $170 | $1,053 | $360 |
Operating_Segments_and_Related3
Operating Segments and Related Information Net Sales and Revenues by Geographic Area (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net sales and revenues | $3,845 | $3,574 | $7,931 | $6,812 |
Revenue, Percentage | 100.00% | 100.00% | 100.00% | 100.00% |
United States | ' | ' | ' | ' |
Net sales and revenues | 2,077 | 2,261 | 4,687 | 4,534 |
Revenue, Percentage | 54.00% | 63.00% | 59.00% | 66.00% |
Europe / Africa | ' | ' | ' | ' |
Net sales and revenues | 1,389 | 662 | 918 | 790 |
Revenue, Percentage | 36.00% | 19.00% | 11.00% | 12.00% |
Asia | ' | ' | ' | ' |
Net sales and revenues | 351 | 454 | 2,117 | 1,271 |
Revenue, Percentage | 9.00% | 13.00% | 27.00% | 19.00% |
Rest of the World | ' | ' | ' | ' |
Net sales and revenues | $28 | $197 | $209 | $217 |
Revenue, Percentage | 1.00% | 5.00% | 3.00% | 3.00% |
Operating_Segments_and_Related4
Operating Segments and Related Information Narrative Revenue (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Concentration risk, government contracts | '201 | '197 | '202 | '643 |
Government contracts concentration risk | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Concentration risk, percentage | 5.00% | 6.00% | 3.00% | 9.00% |
Biomedical Service | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Segment Reporting, Disclosure of Major Customers | 'two | 'two | '2 | '2 |
Biomedical Service | Customer A | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Concentration risk, percentage | 15.00% | 11.00% | 17.00% | 13.00% |
Biomedical Service | Customer C | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Concentration risk, percentage | 18.00% | 20.00% | 18.00% | 21.00% |
Solar | Customer D | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Concentration risk, percentage | ' | ' | 16.00% | ' |
Segment Reporting, Disclosure of Major Customers | ' | ' | '1 | ' |
Solar | Customer K | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Concentration risk, percentage | 28.00% | ' | 20.00% | ' |
Segment Reporting, Disclosure of Major Customers | 'one | ' | 'one | ' |
Operating_Segments_and_Related5
Operating Segments and Related Information Narrative Accounts Receivable (Details) | Jun. 30, 2014 | Dec. 31, 2013 |
customers | customers | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
The number of customers that account for 10% or greater of the company's accounts receivables | 3 | 2 |
Customer A | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Percentage of total trade receivables | 18.00% | 17.00% |
Customer K | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Percentage of total trade receivables | 20.00% | ' |
Customer C | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Percentage of total trade receivables | 27.00% | 36.00% |
Intangible_and_Other_Assets_In
Intangible and Other Assets Intangible Asset Narrative (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
Patents | Patents | Licenses | Licenses | |||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Pending Patent | $109 | ' | $109 | ' | ' | ' | ' | ' |
Finite-lived intangible assets, net | 250 | ' | 250 | ' | 70 | 62 | 71 | 110 |
Finite-lived intangible assets, accumulated amortization | ' | ' | ' | ' | 895 | 871 | 77 | 38 |
Amortization of intangible assets | $31 | $14 | $63 | $27 | ' | ' | ' | ' |
Finite-lived intangible asset, useful life | ' | ' | '5 years | ' | ' | ' | ' | ' |
Intangible_and_Other_Assets_Es
Intangible and Other Assets Estimated Future Amortization Expense Related to Intangible Assets (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Estimated Future Amortization Expense Related to Intangible Assets [Abstract] | ' |
2014 remaining 6 months | $53 |
2015 | 51 |
2016 | 38 |
2017 | 33 |
2018 | 33 |
2019 | 19 |
2020 and future | 23 |
Finite-lived intangible assets, net | $250 |
Intangible_and_Other_Assets_Ot
Intangible and Other Assets Other Assets Narrative (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Assets [Abstract] | ' | ' |
Refundable deposits | $150 | $150 |
AvailableforSale_Investments_D
Available-for-Sale Investments (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Available-for-Sale Investments [Abstract] | ' | ' | ' | ' | ' |
Accumulated other comprehensive income | $0 | ' | $0 | ' | $393 |
Available-for-sale Securities, Gross Realized Gains | ' | ' | 541 | ' | ' |
Deferred Compensation Arrangement with Individual, Payment | $2,800 | $1,200 | $3,931 | $0 | ' |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements Fair Value Measurements (Details) (Fair Value, Measurements, Recurring, USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
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 | $0 | $3,535 |
Percent of total available-for-sale investments | ' | 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 |
Percent of total available-for-sale investments | ' | 62.00% |
Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 1,332 |
Percent of total available-for-sale investments | ' | 38.00% |
Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Percent of total available-for-sale investments | ' | 0.00% |
Cash and Cash Equivalents | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 927 |
Cash and Cash Equivalents | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 927 |
Cash and Cash Equivalents | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Cash and Cash Equivalents | 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 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 1,087 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
Common Stock | Healthcare | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 104 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
Common Stock | Services | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 21 |
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 |
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 |
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 |
Common Stock | Technology | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 557 |
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 |
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 |
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 |
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 |
Equity Funds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 1,045 |
Equity Funds | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 189 |
Equity Funds | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 856 |
Equity Funds | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Equity Funds | Diversified Emerging Markets | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 193 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | Precious Metals Fund | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | Foreign Large Blend | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 287 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | Foreign Large Growth | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 175 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | Large Growth | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 163 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | Small Blend Total | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 189 |
Equity Funds | Small Blend Total | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 189 |
Equity Funds | Small Blend Total | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Equity Funds | Small Blend Total | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | 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 |
Equity Funds | 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 |
Debt Securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 476 |
Debt Securities | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Debt Securities | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 476 |
Debt Securities | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Debt Securities | Domestic | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 413 |
Debt Securities | Domestic | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Debt Securities | Domestic | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 413 |
Debt Securities | Domestic | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Debt Securities | International | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 63 |
Debt Securities | International | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 0 |
Debt Securities | International | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | 63 |
Debt Securities | International | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities, fair value disclosure | ' | $0 |
Notes_Payable_and_Credit_Arran1
Notes Payable and Credit Arrangements Credit Facilitiy Term Disclosure (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | |||||||
In Millions, unless otherwise specified | Apr. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 18, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
Credit Agreement | Credit Agreement | Credit Agreement | Prime Rate | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | N2 Biomedical LLC | ||
Revolving Credit Facility | Ex-Im Facility | Credit Agreement | Credit Agreement | Accounts Receivable | Prime Rate | ||||||
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | |||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, maximum borrowing capacity | ' | $1.50 | $1 | $1.50 | ' | ' | ' | ' | $1 | ' | ' |
Line of credit facility, expiration date | 30-Apr-14 | ' | ' | ' | ' | 31-May-15 | ' | ' | ' | ' | ' |
Line of credit facility, eligible percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' |
Debt instrument, basis spread on variable rate | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | 0.50% |
Debt instrument, interest rate, stated percentage | ' | 7.00% | ' | ' | ' | 4.50% | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' | ' | $5.40 | $5.80 | $6 | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | 18-Sep-20 | ' | ' | ' | ' | ' |
Debt instrument, interest rate, stated percentage rate range, minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% |
Notes_Payable_and_Credit_Arran2
Notes Payable and Credit Arrangements Line of Credit Period Balances (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 18, 2013 |
Line of Credit Facility [Line Items] | ' | ' | ' |
Line of credit facility, amount outstanding | $1,000 | $583,000 | ' |
Line of credit facility, remaining borrowing capacity | 537,000 | ' | ' |
Letters of credit outstanding, amount | 666,000 | 170,000 | ' |
Spire Corporation | Revolving Credit Facility | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Line of credit facility, amount outstanding | 0 | 107,000 | ' |
Spire Corporation | Ex-Im Facility | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Line of credit facility, amount outstanding | 0 | 38,000 | ' |
N2 Biomedical LLC | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Line of credit facility, amount outstanding | 1,000 | 438,000 | ' |
Long-term debt | 5,400,000 | 5,800,000 | 6,000,000 |
Debt instrument, interest rate at period end | 4.50% | ' | ' |
N2 Biomedical LLC | Revolving Credit Facility | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Line of credit facility, amount outstanding | $1,000 | $438,000 | ' |
Line of credit facility, interest rate at period end | 3.75% | ' | ' |
Sharebased_Compensation_StockB
Share-based Compensation Stock-Based Compensation Exepnse (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Employee Service Sharere-based compensation, Nonvested Awards, Compensation Costs not yest Recognized, Year One | $3 | ' | $3 | ' |
Share-based compensation | 23 | 41 | 31 | 77 |
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized | 3 | ' | 3 | ' |
Employee service share-based compensation, allocation of recognized period costs, capitalized amount | ' | ' | 0 | 0 |
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, period for recognition | ' | ' | '0 years 1 month 6 days | ' |
Cost of contract research, services | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation | 0 | 5 | 0 | 10 |
Cost of goods sold | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation | 0 | 4 | 0 | 7 |
Administrative and selling | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation | $23 | $32 | $31 | $60 |
Sharebased_Compensation_Stock_
Share-based Compensation Stock Option Plan Additional Information (Details) | 6 Months Ended |
Jun. 30, 2014 | |
optionplans | |
Stock Option Plan Additional Information [Abstract] | ' |
Number of option plans | 2 |
Percentage of fair market value | 110.00% |
Award contractual term | '10 years |
Sharebased_Compensation_Stock_1
Share-based Compensation Stock Option Activity (Details) (USD $) | 6 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Closing stock price per share | $0.65 | ' |
Weighted-Average Exercise Price [Roll Forward] | ' | ' |
Weighted-average exercise price, Beginning balance | $5.88 | ' |
Weighted-average exercise price, granted | $0.85 | ' |
Weighted-average excercise price, exercised | $0 | ' |
Weighted-average exercise price, cancelled/expired | $6.24 | ' |
Weighted-average exercise price, ending balance | $5.65 | ' |
Weighted-average excercise price, exercisable at March 31, 2014 | $5.69 | ' |
Weighted-average excercise price, vested and expected to vest at March 31, 2014 | $5.68 | ' |
Aggregate Intrinsic Value [Abstract] | ' | ' |
Share-based compensation arrangement by share-based payment award, options, exercises in period, total 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 by share-based payment award, options, outstanding, expected to vest, weighted average remaining contractual life | '5 years 1 month 10 days | ' |
Employee Stock Option [Member] | ' | ' |
Number of Shares [Roll Forward] | ' | ' |
Options outstanding, beginning balance, shares | 527,246 | ' |
Options Granted | 24,000 | ' |
Options Exercised | 0 | ' |
Options Cancelled/expired | -8,124 | ' |
Options outstanding, ending balance, shares | 543,122 | ' |
Options vested and exercisable at March 31, 2014 | 530,622 | ' |
Options vested and expected to vest at March 31, 2014 | 542,678 | ' |
Options available for future grant at March 31, 2014 | 459,759 | ' |
Average Remaining Contractual Life (Years) [Abstract] | ' | ' |
Average remaining contractual life, ending balance (in years) | '4 years 11 months 12 days | ' |
Average remaining contractual life, exercisable (in years) | '4 years 10 months 31 days | ' |
Average remaining contractual life, vested and expected to vest at the end of period (in years) | '4 years 11 months 5 days | ' |
Aggregate Intrinsic Value [Abstract] | ' | ' |
Aggregate intrinsic value, outstanding at the ending period, intrinsic value | 7 | ' |
Aggregate intrinsic value, exercisable at the ending period, intrinsic value | 7 | ' |
Aggregate instrinsic value, options vested and expected to vest at the end of period, intrinsic value | $13 | ' |
Sharebased_Compensation_Shareb
Share-based Compensation Share-based Compensation Valuation Assumptions (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $0.68 | $0.58 | $0.85 | $0.58 |
Employee Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.70% | 0.77% | 1.61% | 0.77% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '5 years 1 month 6 days | '5 years 1 month 6 days | '5 years 1 month 6 days | '5 years 1 month 6 days |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 120.20% | 99.70% | 104.60% | 99.70% |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income Changes in Accumulated OCI (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Accumulated Other Comprehensive Income [Abstract] | ' | ' |
Accumulated other comprehensive income (loss), net of tax | $0 | $393 |
Change in other comprehensive income before reclassification | 148 | ' |
Amounts reclassified from accumulated other comprehensive income | -541 | ' |
Net current-period other comprehensive income | ($393) | ' |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income Reclassifications from Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income Reclassifications from Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Selling, general and administrative expenses | $1,710 | $2,271 | $4,806 | $5,085 |
Accumulated Net Unrealized Investment Gain (Loss) | Reclassification Out Of Accumulated Other Comprehensive Income | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Reclassifications from Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Selling, general and administrative expenses | ' | ' | $541 | ' |
Variable_Interest_Entity_Detai
Variable Interest Entity (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $985 | $3,986 | $1,735 | $3,030 |
Accounts receivable trade, net | 1,369 | 1,414 | ' | ' |
Inventories, net | 4,169 | 3,816 | ' | ' |
Prepaid expenses and other current assets | 507 | 926 | ' | ' |
Total current assets | 8,107 | 14,696 | ' | ' |
Property and equipment, net | 833 | 941 | ' | ' |
Intangible and other assets, net | 400 | 432 | ' | ' |
Total assets | 9,340 | 16,069 | ' | ' |
Revolving line of credit | 1 | 583 | ' | ' |
Current portion of term loan | 771 | 753 | ' | ' |
Accounts payable | 4,013 | 2,323 | ' | ' |
Accrued liabilities | 2,012 | 2,357 | ' | ' |
Total current liabilities | 8,649 | 10,992 | ' | ' |
Long-term portion of term loan | 4,674 | 5,064 | ' | ' |
Other long-term liabilities | 873 | 726 | ' | ' |
Total liabilities | 14,196 | 16,782 | ' | ' |
N2 Biomedical LLC | ' | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 198 | 131 | ' | ' |
Accounts receivable trade, net | 841 | 899 | ' | ' |
Due from related parties | 0 | 24 | ' | ' |
Inventories, net | 36 | 22 | ' | ' |
Prepaid expenses and other current assets | 176 | 114 | ' | ' |
Total current assets | 1,251 | 1,190 | ' | ' |
Property and equipment, net | 282 | 266 | ' | ' |
Intangible and other assets, net | 81 | 85 | ' | ' |
Total assets | 1,614 | 1,541 | ' | ' |
Revolving line of credit | 1 | 438 | ' | ' |
Current portion of term loan | 771 | 753 | ' | ' |
Accounts payable | 33 | 144 | ' | ' |
Due to Related Parties | 34 | 0 | ' | ' |
Accrued liabilities | 138 | 169 | ' | ' |
Total current liabilities | 977 | 1,504 | ' | ' |
Long-term portion of term loan | 4,674 | 5,064 | ' | ' |
Long-term note payable to related party | 2,400 | 2,400 | ' | ' |
Other long-term liabilities | 32 | 12 | ' | ' |
Total liabilities | $8,083 | $8,980 | ' | ' |
Variable_Interest_Entity_Narra
Variable Interest Entity Narrative (Details) (USD $) | 0 Months Ended |
Sep. 18, 2013 | |
Noncontrolling Interest [Line Items] | ' |
Cost of shared services | $500,000 |
Biomedical Service | ' |
Noncontrolling Interest [Line Items] | ' |
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 |
Disposal Date | 18-Sep-13 |
Convertible Debt | Biomedical Service | ' |
Noncontrolling Interest [Line Items] | ' |
Noncash or Part Noncash Divestiture, Amount of Consideration Received | $2,400,000 |
N2 Biomedical LLC | ' |
Noncontrolling Interest [Line Items] | ' |
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 |