Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 28, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Registrant Name | 'CYBEROPTICS CORP | ' | ' |
Entity Central Index Key | '0000768411 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 6,512,238 | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $39,386,083 |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $3,101 | $7,340 |
Marketable securities | 9,402 | 11,438 |
Accounts receivable, less allowance for doubtful accounts of $705 at December 31, 2013 and $775 at December 31, 2012 | 6,562 | 6,129 |
Inventories | 11,331 | 12,533 |
Income tax refunds receivable | ' | 1,325 |
Other current assets | 1,104 | 1,338 |
Deferred tax assets | 77 | 100 |
Total current assets | 31,577 | 40,203 |
Marketable securities, long-term | 10,742 | 10,435 |
Equipment and leasehold improvements, net | 1,272 | 1,719 |
Intangible and other assets, net | 136 | 189 |
Goodwill | 569 | 569 |
Other assets | 194 | 142 |
Deferred tax assets | 85 | 363 |
Total assets | 44,575 | 53,620 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' |
Accounts payable | 2,630 | 2,476 |
Advance customer payments | 552 | 563 |
Accrued expenses | 2,241 | 1,840 |
Deferred tax liability | ' | 29 |
Total current liabilities | 5,423 | 4,908 |
Deferred rent | 352 | 408 |
Deferred warranty revenue | 165 | 146 |
Deferred tax liability | 6 | ' |
Reserve for income taxes | 150 | 686 |
Total liabilities | 6,096 | 6,148 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, no par value, 5,000,000 shares authorized, none outstanding | ' | ' |
Common stock, no par value, 25,000,000 shares authorized, 6,496,805 shares issued and outstanding at December 31, 2013 and 6,969,772 shares issued and outstanding at December 31, 2012 | 28,968 | 31,410 |
Accumulated other comprehensive loss | -540 | -157 |
Retained earnings | 10,051 | 16,219 |
Total stockholders' equity | 38,479 | 47,472 |
Total liabilities and stockholders' equity | $44,575 | $53,620 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Accounts receivable, allowance for doubtful accounts | $705 | $775 |
Preferred stock, par value | ' | ' |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value | ' | ' |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 6,496,805 | 6,969,772 |
Common stock, shares outstanding | 6,496,805 | 6,969,772 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||
Consolidated Statements Of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenues | $8,552 | $8,726 | $9,317 | $6,713 | $5,803 | $11,558 | $13,003 | $11,280 | $33,308 | $41,644 | ||||||||
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 18,658 | 23,465 | ||||||||
Gross margin | 3,631 | 4,006 | 4,074 | 2,939 | 2,334 | 5,081 | 5,529 | 5,235 | 14,650 | 18,179 | ||||||||
Research and development expenses | ' | ' | ' | ' | ' | ' | ' | ' | 7,519 | 7,748 | ||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 12,345 | 12,802 | ||||||||
Restructuring and severance costs | ' | ' | ' | ' | ' | ' | ' | ' | 952 | 740 | ||||||||
Loss from operations | -2,010 | [1] | -961 | [1] | -1,171 | [1] | -2,024 | [1] | -2,712 | [2] | -589 | [2] | 98 | [2] | 92 | [2] | -6,166 | -3,111 |
Interest income and other | ' | ' | ' | ' | ' | ' | ' | ' | -188 | -24 | ||||||||
Loss before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -6,354 | -3,135 | ||||||||
Income tax provision (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -186 | 3,576 | ||||||||
Net loss | ($2,048) | ($774) | ($1,200) | ($2,146) | ($6,499) | [3] | ($447) | [3] | $143 | [3] | $92 | [3] | ($6,168) | ($6,711) | ||||
Net loss per share - Basic | ($0.31) | [4] | ($0.11) | [4] | ($0.17) | [4] | ($0.31) | [4] | ($0.93) | [4] | ($0.06) | [4] | $0.02 | [4] | $0.01 | [4] | ($0.91) | ($0.97) |
Net loss per share - Diluted | ($0.31) | [4] | ($0.11) | [4] | ($0.17) | [4] | ($0.31) | [4] | ($0.93) | [4] | ($0.06) | [4] | $0.02 | [4] | $0.01 | [4] | ($0.91) | ($0.97) |
Weighted average shares outstanding - Basic | ' | ' | ' | ' | ' | ' | ' | ' | 6,798 | 6,946 | ||||||||
Weighted average shares outstanding - Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 6,798 | 6,946 | ||||||||
[1] | Includes a restructuring and severance charge of $952,000 in the fourth quarter of 2013. | |||||||||||||||||
[2] | Includes restructuring charges of $217,000 in the third quarter and $523,000 in the fourth quarter of 2012. | |||||||||||||||||
[3] | Includes a $5.7 million non-cash charge in the fourth quarter of 2012 to record a valuation allowance against our deferred tax assets | |||||||||||||||||
[4] | The summation of quarterly per share amounts may not equal the calculation for the full year, as each quarterly calculation is performed discretely. |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Loss (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Statements Of Comprehensive Loss [Abstract] | ' | ' |
Net loss | ($6,168) | ($6,711) |
Other comprehensive income (loss), before tax: | ' | ' |
Foreign currency translation adjustments | -211 | 376 |
Unrealized gains (losses) on available-for-sale securities: | ' | ' |
Unrealized gains (losses) | 34 | -79 |
Reclassification adjustment for other-than-temporary impairment loss included in net loss | ' | 42 |
Reclassification adjustment for (gains) losses included in net loss | 21 | -8 |
Total unrealized gains (losses) on available-for-sale securities | 55 | -45 |
Unrealized gains (losses) on foreign exchange forward contracts: | ' | ' |
Unrealized gains (losses) | -280 | 591 |
Reclassification adjustment for losses included in net loss | 53 | 74 |
Total unrealized gains (losses) on foreign exchange forward contracts | -227 | 665 |
Other comprehensive income (loss), before tax | -383 | 996 |
Income tax provision related to items of other comprehensive income (loss) | ' | 227 |
Other comprehensive income (loss), net of tax | -383 | 769 |
Total comprehensive loss | ($6,551) | ($5,942) |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net loss | ($6,168) | ($6,711) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 1,673 | 1,843 |
Provision for doubtful accounts | -51 | -165 |
Deferred taxes | 279 | 4,808 |
Foreign currency transaction (gains) losses | 87 | -12 |
Realized (gains) losses on available-for-sale securities | 21 | -8 |
Unrealized loss on available-for-sale equity security | ' | 42 |
Stock compensation costs | 447 | 449 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -382 | 5,945 |
Inventories | 561 | -1,801 |
Income tax refunds receivable | 1,325 | -1,129 |
Other assets | 31 | 154 |
Accounts payable | 182 | -1,696 |
Advance customer payments | 8 | -299 |
Accrued expenses | -253 | -1,412 |
Net cash provided by (used in) operating activities | -2,240 | 8 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Proceeds from maturities of available-for-sale marketable securities | 8,341 | 13,241 |
Proceeds from sales of available-for-sale marketable securities | 5,047 | 3,154 |
Purchases of available-for-sale marketable securities | -11,648 | -21,630 |
Additions to equipment and leasehold improvements | -681 | -1,350 |
Additions to patents | -68 | -113 |
Net cash provided by (used in) investing activities | 991 | -6,698 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Proceeds from exercise of stock options | 25 | 27 |
Common stock repurchases | -2,979 | -21 |
Proceeds from issuance of common stock under employee stock purchase plan | 65 | 139 |
Net cash provided by (used in) financing activities | -2,889 | 145 |
Effects of exchange rate changes on cash and cash equivalents | -101 | 94 |
Net decrease in cash and cash equivalents | -4,239 | -6,451 |
Cash and cash equivalents - beginning of period | 7,340 | 13,791 |
Cash and cash equivalents - end of period | $3,101 | $7,340 |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Common Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Total |
In Thousands, except Share data | ||||
BALANCE at Dec. 31, 2011 | $30,965 | ($926) | $22,930 | $52,969 |
BALANCE, shares at Dec. 31, 2011 | 6,933,000 | ' | ' | ' |
Excess tax benefit from exercise of stock options, net of deferred tax shortfall related to stock options and restricted stock units | -149 | ' | ' | -149 |
Exercise of stock options, vesting of restricted stock units, net of shares exchanged as payment | 27 | ' | ' | 27 |
Exercise of stock options, vesting of restricted stock units, net of shares exchanged as payment, shares | 15,000 | ' | ' | ' |
Share issuances for compensation purposes | 41 | ' | ' | 41 |
Share issuances for compensation purposes, shares | 5,000 | ' | ' | ' |
Stock compensation | 408 | ' | ' | 408 |
Issuance of common stock under Employee Stock Purchase Plan | 139 | ' | ' | 139 |
Issuance of common stock under Employee Stock Purchase Plan, shares | 20,000 | ' | ' | ' |
Repurchase of common stock | -21 | ' | ' | -21 |
Repurchase of common stock, shares | -3,000 | ' | ' | ' |
Market value adjustments of marketable securities, net of reclassification adjustment | ' | -41 | ' | -41 |
Unrealized (loss) gain on foreign exchange forward contracts, net of reclassification adjustment | ' | 434 | ' | 434 |
Cumulative translation adjustment | ' | 376 | ' | 376 |
Net loss | ' | ' | -6,711 | -6,711 |
BALANCE at Dec. 31, 2012 | 31,410 | -157 | 16,219 | 47,472 |
BALANCE, shares at Dec. 31, 2012 | 6,970,000 | ' | ' | ' |
Exercise of stock options, vesting of restricted stock units, net of shares exchanged as payment | 25 | ' | ' | 25 |
Exercise of stock options, vesting of restricted stock units, net of shares exchanged as payment, shares | 18,000 | ' | ' | ' |
Share issuances for compensation purposes | 30 | ' | ' | 30 |
Share issuances for compensation purposes, shares | 5,000 | ' | ' | ' |
Stock compensation | 417 | ' | ' | 417 |
Issuance of common stock under Employee Stock Purchase Plan | 65 | ' | ' | 65 |
Issuance of common stock under Employee Stock Purchase Plan, shares | 13,000 | ' | ' | ' |
Repurchase of common stock | -2,979 | ' | ' | -2,979 |
Repurchase of common stock, shares | -508,535 | ' | ' | -508,535 |
Market value adjustments of marketable securities, net of reclassification adjustment | ' | 55 | ' | 55 |
Unrealized (loss) gain on foreign exchange forward contracts, net of reclassification adjustment | ' | -227 | ' | -227 |
Cumulative translation adjustment | ' | -211 | ' | -211 |
Net loss | ' | ' | -6,168 | -6,168 |
BALANCE at Dec. 31, 2013 | $28,968 | ($540) | $10,051 | $38,479 |
BALANCE, shares at Dec. 31, 2013 | 6,497,000 | ' | ' | ' |
Business_Description_And_Signi
Business Description And Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Business Description And Significant Accounting Policies [Abstract] | ' |
Business Description And Significant Accounting Policies | ' |
NOTE 1 – BUSINESS DESCRIPTION AND SIGNIFICANT ACCOUNTING POLICIES | |
Description of Business | |
We are a leading global supplier of sensors and inspection systems that provide process yield and throughput improvement solutions for the global electronic assembly and semiconductor capital equipment markets. | |
Principles of Consolidation | |
The consolidated financial statements include the accounts of CyberOptics Corporation and its wholly-owned subsidiaries. In these Notes to the Consolidated Financial Statements, these companies are collectively referred to as “CyberOptics,” “we,” “us,” or “our.” All significant inter-company accounts and transactions have been eliminated in consolidation. | |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. | |
Cash Equivalents | |
We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. Cash and cash equivalents consist of funds maintained in demand deposit accounts, money market accounts, corporate debt instruments and U.S. government backed obligations. Some cash and cash equivalent balances may exceed federally insured limits. | |
Marketable Securities | |
All marketable securities are classified as available-for-sale and consist of U.S. government backed obligations, certificates of deposit, corporate debt instruments, asset backed securities or equity securities. Marketable securities are classified as short-term or long-term in the balance sheet based on their maturity date and expectations regarding sales. | |
Available-for-sale securities are carried at fair value, with unrealized gains and losses reported as a separate component of stockholders’ equity until realized. These fair values are primarily determined using quoted market prices. The carrying amounts of securities, for purposes of computing unrealized gains and losses, are determined by specific identification. The cost of securities sold is also determined by specific identification. | |
We monitor the carrying value of our investments compared to their fair value to determine whether an other-than-temporary impairment has occurred. If a decline in fair value is determined to be other-than-temporary, an impairment charge related to that specific investment is recorded in current operations. | |
Cash and marketable securities held by foreign subsidiaries totaled $903,000 at December 31, 2013 and $3,585,000 at December 31, 2012. | |
Inventories | |
Inventories are stated at the lower of cost or market, with cost determined using the first-in, first-out (FIFO) method. Appropriate consideration is given to deterioration, obsolescence, and other factors in evaluating net realizable value. Demonstration inventories are stated at cost less accumulated amortization, generally based on a 36 month useful life. | |
Accumulated amortization for demonstration inventories totaled $908,000 at December 31, 2013 and $897,000 at December 31, 2012. | |
Allowance for Doubtful Accounts | |
Allowances for doubtful accounts are maintained for estimated losses resulting from the inability of our customers to make required payments. In making the determination of the appropriate allowance for doubtful accounts, we consider specific accounts, historical write-offs, changes in customer relationships and credit worthiness and concentrations of credit risk. Specific accounts receivable are written-off once a determination is made that the account is uncollectible. | |
Equipment and Leasehold Improvements | |
Equipment and leasehold improvements are stated at cost. Significant additions or improvements extending asset lives are capitalized, while repairs and maintenance are charged to expense as incurred. In-progress costs are capitalized with depreciation beginning when assets are placed in service. Depreciation is recorded using the straight-line method over the estimated useful lives of the equipment, ranging from three to ten years. Leasehold improvements are amortized using the straight-line method over the shorter of the asset useful life or the underlying lease term. Gains or losses on dispositions are included in current operations. | |
Goodwill | |
Goodwill represents the excess of purchase price over the fair value of net assets acquired in a business combination. We evaluate the carrying value of goodwill during the fourth quarter of each year and between annual evaluations if events occur or circumstances change that indicate goodwill might be impaired. Goodwill is tested by comparing our fair value, as determined based on our future estimated discounted cash flows, to our net book value. | |
Patents | |
Patents consist of legal and patent registration costs for protection of our proprietary technology. We amortize patent costs on a straight-line basis, based upon their estimated life. | |
Long Lived Assets | |
Intangible assets subject to amortization and other long lived assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. An impairment loss would be recognized when future undiscounted cash flows expected to result from use of the asset and eventual disposition are less than the carrying amount. | |
Revenue Recognition | |
Revenue from all customers, including distributors, is recognized when all significant contractual obligations have been satisfied and collection of the resulting receivable is reasonably assured. Generally, revenues are recognized upon shipment under FOB shipping point terms, and include shipping and handling costs. Taxes collected from customers and remitted to governmental authorities are excluded from revenues. Estimated returns and warranty costs are recorded at the time of sale. Sales of some SMT system products may require customer acceptance due to performance or other acceptance criteria included in the terms of sale. For these SMT product sales, revenue is recognized at the time of customer acceptance. Our multiple deliverable arrangements typically include the sale of an SMT inspection system, installation and training, and in some cases, an extended warranty. Revenue from installation and training and extended warranty are recognized as the services are provided, typically within one month of shipment in the case of installation and training. Extended warranties are typically for a second or third year of coverage beyond the basic one year warranty included with all SMT sales. | |
When a sale involves multiple elements, revenue is allocated to each respective element at inception of an arrangement using the relative selling price method. Selling price is determined based on a selling price hierarchy, consisting of vendor specific objective evidence (VSOE), third party evidence or estimated selling price. Management’s best estimate of the selling price of an SMT machine is based on the cost build-up of the product and a reasonable margin based on geographic location and market conditions. We use VSOE to establish selling price for extended warranty, installation and training services. If VSOE is not available to establish selling price for extended warranty, installation and training services, we estimate a selling price based on the cost build-up for the particular service and a reasonable gross margin. Costs related to products delivered are recognized in the period revenue is recognized. Cost of revenues consists primarily of direct labor, manufacturing overhead, raw materials and components and excludes amortization of intangible assets. | |
Foreign Currency Translation | |
Financial position and results of operations of our international subsidiaries are measured using local currency as their functional currency. Assets and liabilities of these operations are translated at the exchange rates in effect at each fiscal year-end. Statements of operations accounts are translated at the average rates of exchange prevailing during the year. Translation adjustments arising from the use of differing exchange rates from period to period are included as a cumulative translation adjustment in stockholders’ equity. | |
Foreign Currency Transactions | |
Foreign currency transaction gains and losses are included in interest income and other in the statement of operations. We recognized foreign currency transaction losses of $117,000 in 2013 and $11,000 in 2012. | |
Research and Development | |
Research and development (R&D) costs, including software development, are expensed when incurred. Software development costs are required to be expensed until the point that technological feasibility and proven marketability of the product are established; costs otherwise capitalizable after such point also are expensed because they are insignificant. All other R&D costs are expensed as incurred. R&D expenses consist primarily of salaries, project materials, contract labor and other costs associated with ongoing product development and enhancement efforts. | |
Derivatives and Hedging | |
We enter into foreign exchange forward contracts to hedge against the effect of exchange rate fluctuations on cash flows denominated in foreign currencies associated with our subsidiary in Singapore. These transactions are designated as cash flow hedges and are recorded in the accompanying balance sheet at fair value. The effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. Cash flows from derivative instruments are classified in the statement of cash flows in the same category as the cash flows from the items subject to designated hedge relationships. | |
Advertising Costs | |
We expense all advertising costs as incurred. Advertising expense incurred was $113,000 in 2013 and $96,000 in 2012. | |
Warranty Costs | |
We provide for the estimated cost of product warranties (which generally cover products for one year) at the time revenue is recognized. | |
Income Taxes | |
We evaluate uncertain tax positions using the “more likely than not” threshold (i.e., a likelihood of occurrence greater than fifty percent). The recognition threshold is met when an entity concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination by the relevant taxing authority. Those tax positions failing to qualify for initial recognition are classified as a gross unrecognized tax benefit until the first interim period in which they meet the more likely than not standard, or are resolved through negotiation or litigation with the taxing authority, or upon expiration of the statute of limitations. De-recognition of a tax position that was previously recognized occurs when an entity subsequently determines that a tax position no longer meets the more likely than not threshold of being sustained. | |
Only the portion of the unrecognized tax benefit that is expected to be paid within one year is classified as a current liability. As a result, liabilities expected to be resolved without the payment of cash (e.g. resolution due to the expiration of the statute of limitations) or are not expected to be paid within one year are not classified as current. It is our policy to record estimated interest and penalties as income tax expense and tax credits as a reduction in income tax expense. | |
Deferred income taxes are recorded to reflect the tax consequences in future years of differences between the financial reporting and tax bases of assets and liabilities. Income tax expense is the sum of the tax currently payable and the change in the deferred tax assets and liabilities during the period, excluding changes in deferred tax assets recorded to equity and goodwill. Valuation allowances are established when, in the opinion of management, there is uncertainty that some portion or all of the deferred tax assets will not be realized. We assess the realizability of our deferred tax assets and the need for a valuation allowance based on all positive and negative evidence. | |
Net Loss Per Share | |
Net loss per basic and diluted share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Common equivalent shares consist of common shares to be issued upon exercise of stock options, restricted stock units and from participation in our employee stock purchase plan, as calculated using the treasury stock method. All potentially dilutive common equivalent shares are excluded from the calculation of net loss per diluted share due to their anti-dilutive effect. | |
Fair Value of Financial Instruments | |
The carrying amounts of financial instruments such as cash equivalents, accounts receivable, income tax refunds receivable, other assets, accounts payable, accrued expenses and other current liabilities approximate their related fair values due to the short-term maturities of these instruments. | |
Stock-Based Compensation | |
All equity-based payments to employees, including grants of employee stock options, are required to be recognized as an expense in our consolidated statements of operations based on the grant date fair value of the award. We utilize the straight-line method of expense recognition over the award’s service period for our graded vesting options. The fair value of stock options has been determined using the Black-Scholes model. The compensation expense recognized for all equity based awards is net of estimated forfeitures, which is based on historical data. We have classified equity based compensation within our statement of operations in the same manner as our cash based employee compensation costs. We elected to use the alternative transition guidance known as the “short-cut method” to determine our pool of windfall tax benefits at January 1, 2006. | |
See Note 6 to the Consolidated Financial Statements for additional information on stock-based compensation. | |
Recent Accounting Developments | |
In February 2013, the FASB issued amended disclosure requirements for amounts classified out of other comprehensive income to improve the transparency of reporting these reclassifications (ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income). The amended guidance requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. We adopted the amended guidance effective January 1, 2013. Our adoption of the amended disclosure requirements will have no impact on our consolidated financial results as the amendments relate only to changes in financial statement presentation. | |
In July 2013, the FASB issued guidance regarding the presentation of an unrecognized tax benefit when a net operating loss carry forward, a similar tax loss, or a tax credit carry forward exists (ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry forward, a Similar Tax Loss, or a Tax Credit Carry forward Exists). Under certain circumstances, unrecognized tax benefits should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry forward, a similar tax loss, or a tax credit carry forward. The guidance is a change in financial statement presentation only and has no material impact on consolidated financial results. The guidance is effective beginning January 1, 2014 on either a prospective or retrospective basis. | |
Marketable_Securities
Marketable Securities | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Marketable Securities [Abstract] | ' | |||||||||
Marketable Securities | ' | |||||||||
NOTE 2 – MARKETABLE SECURITIES | ||||||||||
Our investments in marketable securities are classified as available-for-sale and consist of the following: | ||||||||||
31-Dec-13 | ||||||||||
(In thousands) | Cost | Unrealized Gains | Unrealized Losses | Fair Value | ||||||
Short-Term | ||||||||||
U.S. government and agency obligations | $ | 6,299 | $ | 10 | $ | — | $ | 6,309 | ||
Corporate debt securities and certificates of deposit | 3,091 | 2 | — | 3,093 | ||||||
Marketable securities – short-term | $ | 9,390 | $ | 12 | $ | — | $ | 9,402 | ||
Long-Term | ||||||||||
U.S. government and agency obligations | $ | 4,783 | $ | 7 | $ | — | $ | 4,790 | ||
Corporate debt securities and certificates of deposit | 3,417 | 1 | -5 | 3,413 | ||||||
Asset backed securities | 2,474 | 2 | -1 | 2,475 | ||||||
Equity security | 42 | 22 | — | 64 | ||||||
Marketable securities – long-term | $ | 10,716 | $ | 32 | $ | -6 | $ | 10,742 | ||
31-Dec-12 | ||||||||||
(In thousands) | Cost | Unrealized Gains | Unrealized Losses | Fair Value | ||||||
Short-Term | ||||||||||
U.S. government and agency obligations | $ | 7,358 | $ | 10 | $ | -35 | $ | 7,333 | ||
Corporate debt securities and certificates of deposit | 4,100 | 5 | — | 4,105 | ||||||
Marketable securities – short-term | $ | 11,458 | $ | 15 | $ | -35 | $ | 11,438 | ||
Long-Term | ||||||||||
U.S. government and agency obligations | $ | 9,033 | $ | 23 | $ | -23 | $ | 9,033 | ||
Corporate debt securities and certificates of deposit | 1,192 | 4 | -1 | 1,195 | ||||||
Asset back securities | 165 | — | — | 165 | ||||||
Equity security | 42 | — | — | 42 | ||||||
Marketable securities – long-term | $ | 10,432 | $ | 27 | $ | -24 | $ | 10,435 | ||
Our investments in marketable debt securities all have maturities of less than five years. At December 31, 2013, marketable debt securities valued at $15,587,000 were in an unrealized gain position totaling $22,000 and marketable debt securities valued at $4,493,000 were in an unrealized loss position totaling $6,000 (all had been in an unrealized loss position for less than twelve months). At December 31, 2012, marketable debt securities valued at $19,012,000 were in an unrealized gain position totaling $42,000 and marketable debt securities valued at $2,819,000 were in an unrealized loss position totaling $59,000 (all had been in an unrealized loss position for less than twelve months). | ||||||||||
At December 31, 2013, our equity security valued at $64,000 was in a $22,000 unrealized gain position. In 2012, we recognized a $42,000 impairment charge for our equity security resulting from a decline in market value which we determined to be other than temporary. | ||||||||||
Net pre-tax unrealized gains for marketable securities of $38,000 at December 31, 2013 and net pre-tax unrealized losses for marketable securities of $17,000 at December 31, 2012 were recorded as a component of accumulated other comprehensive loss in stockholders’ equity. We received proceeds from the sale of marketable securities of $5,047,000 in 2013 and $3,154,000 in 2012. Gains and losses from the sale of marketable securities totaled a $21,000 loss in 2013 and an $8,000 gain in 2012. | ||||||||||
Investments in marketable securities classified as cash equivalents of $327,000 at December 31, 2013 and $2,824,000 at December 31, 2012 consist of the following: | ||||||||||
31-Dec-13 | ||||||||||
(In thousands) | Cost | Unrealized Gains | Unrealized Losses | Recorded | ||||||
Basis | ||||||||||
Corporate debt securities and certificates of deposit | $ | 327 | $ | — | $ | — | $ | 327 | ||
$ | 327 | $ | — | $ | — | $ | 327 | |||
31-Dec-12 | ||||||||||
(In thousands) | Cost | Unrealized Gains | Unrealized Losses | Recorded | ||||||
Basis | ||||||||||
Corporate debt securities and certificates of deposit | $ | 2,824 | $ | — | $ | — | $ | 2,824 | ||
$ | 2,824 | $ | — | $ | — | $ | 2,824 | |||
Derivatives
Derivatives | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Derivatives [Abstract] | ' | |||||||||
Derivatives | ' | |||||||||
NOTE 3 – DERIVATIVES | ||||||||||
We enter into foreign exchange forward contracts to hedge against the effect of exchange rate fluctuations on cash flows denominated in foreign currencies associated with our subsidiary in Singapore. These transactions are designated as cash flow hedges and are recorded in the accompanying balance sheet at fair value. The effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. Hedge ineffectiveness and the amounts excluded from effectiveness testing recognized in earnings on cash flow hedges were not material for the years ended December 31, 2013 and December 31, 2012. | ||||||||||
The maximum length of time over which we hedge our exposure to the variability in future cash flows is 12 months. Accordingly, at December 31, 2013 and December 31, 2012, all of our open foreign exchange forward contracts had maturities of one year or less. The dollar equivalent gross notional amount of our foreign exchange forward contracts designated as cash flow hedges was approximately $6.5 million at December 31, 2013 and $8.3 million at December 31, 2012. | ||||||||||
Reclassifications of amounts from accumulated other comprehensive loss into earnings include accumulated gains (losses) at the time earnings are impacted by the forecasted transaction. The location in the consolidated statements of operations and consolidated statements of comprehensive loss and amounts of gains and losses related to derivative instruments designated as cash flow hedges are as follows: | ||||||||||
Year Ended December 31, 2013 | ||||||||||
(In thousands) | Pretax Loss Recognized in Other Comprehensive Loss on Effective | Pretax Loss Recognized in Earnings on Effective Portion of Derivative as a Result of Reclassification from Accumulated Other Comprehensive Loss | Ineffective Portion of Gain (Loss) on Derivative and Amount Excluded from Effectiveness Testing Recognized in Earnings | |||||||
Portion of Derivative | ||||||||||
Cost of revenues | $ | -169 | $ | -16 | $ | — | ||||
Research and development | -63 | -20 | — | |||||||
Selling, general and administrative | -48 | -17 | — | |||||||
Total | $ | -280 | $ | -53 | $ | — | ||||
Year Ended December 31, 2012 | ||||||||||
(In thousands) | Pretax Loss Recognized in Other Comprehensive Loss on Effective | Pretax Loss Recognized in Earnings on Effective Portion of Derivative as a Result of Reclassification from Accumulated Other Comprehensive Loss | Ineffective Portion of Gain (Loss) on Derivative and Amount Excluded from Effectiveness Testing Recognized in Earnings | |||||||
Portion of Derivative | ||||||||||
Cost of revenues | $ | 410 | $ | -57 | $ | — | ||||
Research and development | 103 | -12 | — | |||||||
Selling, general and administrative | 78 | -5 | — | |||||||
Total | $ | 591 | $ | -74 | $ | — | ||||
Amounts recorded in accumulated other comprehensive loss for the after tax net unrealized gain or loss associated with cash flow hedging instruments was a loss of $116,000 as of December 31, 2013 and a gain of $111,000 as of December 31, 2012. We expect to reclassify the December 31, 2013 pre-tax net unrealized loss of $60,000 recorded in accumulated other comprehensive loss to earnings over the next 12 months with the impact offset by cash flows from underlying hedged items. The fair value of our foreign exchange forward contracts representing a loss in the amount of $58,000 as of December 31, 2013 has been recorded in accrued expenses. The fair value of our foreign exchange forward contracts representing a gain in the amount of $153,000 as of December 31, 2012 has been recorded in other current assets. | ||||||||||
Additional information with respect to the impact of derivative instruments on other comprehensive income (loss) is included in Note 4. Additional information with respect to the fair value of derivative instruments is included in Note 5. | ||||||||||
Our foreign exchange forward contracts contain credit risk to the extent that our bank counter-parties may be unable to meet the terms of the agreements. We minimize such risk by limiting our counter-parties to major financial institutions. We do not expect material losses as a result of defaults by other parties. | ||||||||||
Comprehensive_Income_Loss
Comprehensive Income (Loss) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||||
Comprehensive Income (Loss) | ' | ||||||||||||||||||
NOTE 4 – COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||
Taxes related to items of other comprehensive income (loss) are as follows: | |||||||||||||||||||
Year Ended | Year Ended | ||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
(In thousands) | Before Tax | Tax Effect | Net of Tax Amount | Before Tax | Tax Effect | Net of Tax Amount | |||||||||||||
Foreign currency translation | |||||||||||||||||||
adjustments | $ | -211 | $ | — | $ | -211 | $ | 376 | $ | — | $ | 376 | |||||||
Net changes related to | |||||||||||||||||||
available-for-sale securities: | |||||||||||||||||||
Unrealized gains (losses) | 34 | — | 34 | -79 | -18 | -61 | |||||||||||||
Reclassification adjustment for | |||||||||||||||||||
other-than-temporary impairment | |||||||||||||||||||
loss included in net loss | — | — | — | 42 | 15 | 27 | |||||||||||||
Reclassification adjustment for | |||||||||||||||||||
(gains) losses included in net loss | 21 | — | 21 | -8 | -1 | -7 | |||||||||||||
Total net changes related to | |||||||||||||||||||
available-for-sale securities | 55 | — | 55 | -45 | -4 | -41 | |||||||||||||
Net changes related to foreign | |||||||||||||||||||
exchange forward contracts: | |||||||||||||||||||
Unrealized gains (losses) | -280 | — | -280 | 591 | 206 | 385 | |||||||||||||
Reclassification adjustment for | |||||||||||||||||||
losses included in net loss | 53 | — | 53 | 74 | 25 | 49 | |||||||||||||
Total net changes related to | |||||||||||||||||||
foreign exchange forward contracts | -227 | — | -227 | 665 | 231 | 434 | |||||||||||||
Other comprehensive income (loss) | $ | -383 | $ | — | $ | -383 | $ | 996 | $ | 227 | $ | 769 | |||||||
Reclassification adjustments are made to avoid double counting for items included in comprehensive income (loss) that are also recorded as part of net loss. Reclassifications to earnings related to cash flow hedging instruments are discussed in Note 3. Income taxes are not provided for foreign currency translation adjustments relating to permanent investments in international subsidiaries. We have recorded a valuation allowance against all of our United States and Singapore based deferred tax assets. Accordingly, we do not expect to record a tax provision for items of other comprehensive income (loss) until such time as the valuation allowance is substantially reduced. The effect of the reclassifications from comprehensive income (loss) to earnings by line items is as follows: | |||||||||||||||||||
Details about Components | Affected Line Item in the Statements of Operations | ||||||||||||||||||
of Accumulated Other | |||||||||||||||||||
Comprehensive Loss | |||||||||||||||||||
Year Ended | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Unrealized gains (losses) on | |||||||||||||||||||
available-for-sale securities | $ | -21 | $ | 8 | Interest income and other | ||||||||||||||
— | 1 | Income tax provision (benefit) | |||||||||||||||||
$ | -21 | $ | 7 | Net of tax | |||||||||||||||
Unrealized losses | |||||||||||||||||||
on foreign exchange | |||||||||||||||||||
forward contracts | $ | -16 | $ | -57 | Cost of revenues | ||||||||||||||
-20 | -12 | Research and development expenses | |||||||||||||||||
-17 | -5 | Selling, general and administrative expenses | |||||||||||||||||
-53 | -74 | Total before tax | |||||||||||||||||
— | -25 | Income tax provision (benefit) | |||||||||||||||||
$ | -53 | $ | -49 | Net of tax | |||||||||||||||
At December 31, 2013 and December 31, 2012 components of accumulated other comprehensive loss is as follows: | |||||||||||||||||||
(In thousands) | Foreign Currency Translation Adjustments | Available-for-Sale Securities | Foreign Exchange Forward Contracts | Accumulated Other Comprehensive Loss | |||||||||||||||
Balances at December 31, 2011 | $ | -621 | $ | 18 | $ | -323 | $ | -926 | |||||||||||
Other comprehensive income (loss) before | |||||||||||||||||||
reclassifications | 376 | -61 | 385 | 700 | |||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||
comprehensive loss | — | 20 | 49 | 69 | |||||||||||||||
Total change for the period | 376 | -41 | 434 | 769 | |||||||||||||||
Balances at December 31, 2012 | $ | -245 | $ | -23 | $ | 111 | $ | -157 | |||||||||||
Other comprehensive income (loss) before | |||||||||||||||||||
reclassifications | -211 | 34 | -280 | -457 | |||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||
comprehensive loss | — | 21 | 53 | 74 | |||||||||||||||
Total change for the period | -211 | 55 | -227 | -383 | |||||||||||||||
Balances at December 31, 2013 | $ | -456 | $ | 32 | $ | -116 | $ | -540 | |||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||
Fair Value Measurements | ' | ||||||||||||
NOTE 5 – FAIR VALUE MEASUREMENTS | |||||||||||||
We determine the fair value of our assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. We use a fair value hierarchy with three levels of inputs, of which the first two are considered observable and the last unobservable, to measure fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1). The next highest priority is based on quoted prices for similar assets or liabilities in active markets or quoted prices for identical or similar assets or liabilities in non-active markets or other observable inputs (Level 2). The lowest priority is given to unobservable inputs (Level 3). The following provides information regarding fair value measurements for our marketable securities and foreign exchange forward contracts as of December 31, 2013 and December 31, 2012 according to the three-level fair value hierarchy. | |||||||||||||
Fair Value Measurements at | |||||||||||||
December 31, 2013 Using | |||||||||||||
(In thousands) | Balance December 31, 2013 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||
Marketable securities: | |||||||||||||
U.S. government and agency obligations | $ | 11,099 | $ | — | $ | 11,099 | $ | — | |||||
Corporate debt securities and certificates of deposit | 6,506 | — | 6,506 | — | |||||||||
Asset backed securities | 2,475 | — | 2,475 | — | |||||||||
Equity security | 64 | 64 | — | — | |||||||||
Total marketable securities | $ | 20,144 | $ | 64 | $ | 20,080 | $ | — | |||||
Derivative instruments-liabilities: | |||||||||||||
Foreign exchange forward contracts | $ | 58 | $ | — | $ | 58 | $ | — | |||||
Fair Value Measurements at | |||||||||||||
December 31, 2012 Using | |||||||||||||
(In thousands) | Balance December 31, 2012 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||
Marketable securities: | |||||||||||||
U.S. government and agency obligations | $ | 16,366 | $ | — | $ | 16,366 | $ | — | |||||
Corporate debt securities and certificates of deposit | 5,300 | — | 5,300 | — | |||||||||
Asset backed securities | 165 | — | 165 | — | |||||||||
Equity security | 42 | 42 | — | — | |||||||||
Total marketable securities | $ | 21,873 | $ | 42 | $ | 21,831 | $ | — | |||||
Derivative instruments-assets: | |||||||||||||
Foreign exchange forward contracts | $ | 153 | $ | — | $ | 153 | $ | — | |||||
During the years ended December 31, 2013 and 2012 there were no transfers within the three level hierarchy. A significant transfer is recognized when the inputs used to value a security have been changed which merit a transfer between the disclosed levels of the valuation hierarchy. | |||||||||||||
The fair value for our U.S. government and agency obligations, corporate debt securities and certificates of deposit and asset backed securities are determined based on valuations provided by external investment managers who obtain them from a variety of industry standard data providers. The fair value for our equity security is based on a quoted market price obtained from an active market. | |||||||||||||
The fair value for our foreign exchange forward contracts is based on foreign currency spot and forward rates obtained from reputable financial institutions with resulting valuations periodically validated by obtaining foreign currency spot rate and forward quotes from other industry standard sources or third party or counterparty quotes. The fair value of our foreign exchange forward contracts representing a loss in the amount of $58,000 as of December 31, 2013 has been recorded in accrued expenses. The fair value of our foreign exchange forward contracts representing a gain in the amount of $153,000 as of December 31, 2012 has been recorded in other current assets. | |||||||||||||
The carrying amounts of financial instruments such as cash equivalents, accounts receivable, income tax refunds receivable, other assets, accounts payable, and all current liabilities approximate their related fair values due to the short-term maturities of these instruments. Non-financial assets such as equipment and leasehold improvements, goodwill and intangible assets are subject to non-recurring fair value measurements if they are deemed impaired. We had no re-measurements of non-financial assets to fair value in 2013 or 2012. | |||||||||||||
Accounting_For_StockBased_Comp
Accounting For Stock-Based Compensation | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Accounting For Stock-Based Compensation [Abstract] | ' | |||||
Accounting For Stock-Based Compensation | ' | |||||
NOTE 6 – ACCOUNTING FOR STOCK-BASED COMPENSATION | ||||||
Share Based Compensation Information | ||||||
(In thousands) | 2013 | 2012 | ||||
Pre-tax equity compensation expense | $ | 447 | $ | 449 | ||
Income tax benefits related to equity based compensation | $ | — | $ | — | ||
Pre-tax equity based compensation expense for 2013 includes $373,000 for stock options and restricted stock units, $44,000 for our employee stock purchase plan, and $30,000 for 5,000 shares issued to board members for compensation purposes (weighted average grant date fair value of $6.08). Pre-tax equity based compensation expense for 2012 includes $354,000 for stock options and restricted stock units, $54,000 for our employee stock purchase plan, and $41,000 for 5,000 shares issued to board members for compensation purposes (weighted average grant date fair value of $8.17). | ||||||
We use historical data to estimate pre-vesting forfeitures. At December 31, 2013, the total unrecognized compensation cost related to non-vested equity based compensation arrangements was $674,000 and the related weighted average period over which it is expected to be recognized is 2.22 years. The total fair value of shares that vested in 2013 was $267,000 and in 2012 was $178,000. | ||||||
The fair value of stock options granted to our employees was estimated on the date of grant using the Black-Scholes model. The Black-Scholes valuation model incorporates ranges of assumptions that are disclosed in the table below. The risk-free interest rate is based on the United States Treasury yield curve at the time of grant with a remaining term equal to the expected life of the awards. We estimated the expected term for our graded vesting options, representing the length of time in years that the options are expected to be outstanding, using historical experience. Expected volatility was computed based on historical fluctuations in the daily price of our common stock. | ||||||
For stock options granted in the two year period ended December 31, 2013, we utilized the fair value of our common stock on the date of grant and employed the following key assumptions in computing fair value using the Black-Scholes option-pricing model: | ||||||
2013 | 2012 | |||||
Risk-free interest rates | 1.51% | 0.70% - 0.86% | ||||
Expected life in years | 5.31 - 5.48 | 4.95 - 5.20 | ||||
Expected volatility | 46.58% | 45.81% - 46.47% | ||||
Dividend yield | 0.00% | 0.00% | ||||
Weighted average fair value on grant date | $2.34 | $3.01 | ||||
Stock Options | ||||||
We have two stock incentive plans that are administered under the supervision of the Compensation Committee of the Board of Directors. As of December 31, 2013, there are 1,022,799 shares of common stock reserved in the aggregate for issuance of options and other stock based benefits under these plans, including restricted stock units and share grants to employees, officers and others. Reserved shares underlying canceled options are available for future grant under our active plan. Options are granted at an option price per share equal to or greater than the market value of our common stock on the date of grant. Generally, options granted to employees vest over a four-year period and expire seven or ten years after the date of grant. The plans allow for option holders to tender shares of our common stock as consideration for the option price, provided that the tendered shares have been held by the option holder at least six months. As of December 31, 2013, there were 389,373 shares of common stock available under this plan for future issuance to employees, officers and others. | ||||||
The following is a summary of stock option activity for the year ended December 31, 2013: | ||||||
Options Outstanding | Weighted Average Exercise Price Per Share | |||||
Outstanding, December 31, 2012 | 544,153 | $ | 8.68 | |||
Granted | 86,750 | 5.39 | ||||
Exercised | -5,000 | 4.99 | ||||
Expired | -38,170 | 11.09 | ||||
Forfeited | -1,250 | 8.71 | ||||
Outstanding, December 31, 2013 | 586,483 | $ | 8.07 | |||
Exercisable, December 31, 2013 | 338,197 | $ | 8.92 | |||
The intrinsic value of an option is the amount by which the fair value of the underlying stock exceeds its exercise price. For options outstanding at December 31, 2013, the weighted average remaining contractual term of all outstanding options was 4.00 years and their aggregate intrinsic value was $255,000. At December 31, 2013, the weighted average remaining contractual term of options that were exercisable was 2.71 years and their aggregate intrinsic value was $168,000. The aggregate intrinsic value of stock options exercised was $4,300 in 2013 and $10,000 in 2012. We received proceeds of $25,000 from the exercise of stock options in 2013. No tax benefit was realized from the exercise of these stock options. New shares are issued for all option exercises, upon vesting of restricted stock units, for share issuances to board members and others or for issuances under our Employee Stock Purchase Plan. | ||||||
Restricted Stock Units | ||||||
Our 1998 Stock Incentive Plan also permits our Compensation Committee to grant other stock-based benefits, including restricted stock units. Restricted stock units are valued at a price equal to the market value of our common stock on the date of grant, vest over a four year period provided the employee is still working for the company and entitle the holders to one share of our common stock for each restricted stock unit. There were 15,750 restricted stock units granted in 2013 and their weighted average grant date fair value was $5.39 each. There were 36,528 restricted stock units granted in 2012 and their weighted average grant date fair value was $7.37 each. The aggregate fair value of outstanding restricted stock units based on the closing share price of our common stock as of December 31, 2013 was $300,000. The aggregate fair value of restricted stock units that vested, based on the closing share price of our common stock on the vesting date, was $78,000 for the year ended December 31, 2013 and $69,000 for the year ended December 31, 2012. | ||||||
A summary of activity in non-vested restricted stock units for the year ended December 31, 2013 is as follows: | ||||||
Non-vested restricted stock units | Shares | Weighted Average Grant Date Fair Value | ||||
Non-vested at December 31, 2012 | 44,555 | $ | 7.61 | |||
Granted | 15,750 | 5.39 | ||||
Vested | -12,946 | 7.76 | ||||
Forfeited | -416 | 8.71 | ||||
Non-vested at December 31, 2013 | 46,943 | $ | 6.82 | |||
Employee Stock Purchase Plan | ||||||
We have an Employee Stock Purchase Plan available to eligible U.S. employees. Under terms of the plan, eligible employees may designate from 1% to 10% of their compensation to be withheld through payroll deductions, up to a maximum of $6,500 in each plan year, for the purchase of common stock at 85% of the lower of the market value of our common stock on the first or last day of the offering period. There were 12,656 shares issued under this plan in the year ended December 31, 2013 and 19,759 shares issued in the year ended December 31, 2012. As of December 31, 2013, 153,926 shares remain available for future issuance under this plan. | ||||||
Stock Grant Plan for Non-Employee Directors | ||||||
Our stock grant plan for non-employee directors provides for automatic grants of 1,000 shares of our common stock to each of our non-employee directors upon their re-election to the Board of Directors. The plan provides for a total of 30,000 shares of our common stock for issuance to directors and will expire on May 19, 2018. Share issuances under the stock grant plan for non-employee directors were 5,000 shares of common stock in the year ended December 31, 2013 and 5,000 shares in the year ended December 31, 2012. The shares issued in 2013 had a fair market value on the date of grant equal to $30,000. The shares issued in 2012 had a fair market value on the date of grant equal to $41,000. As of December 31, 2013, 6,000 shares of common stock are reserved in the aggregate for future issuance under this plan. | ||||||
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Net Income (Loss) Per Share [Abstract] | ' | ||||||||
Net Income (Loss) Per Share | ' | ||||||||
NOTE 7 – NET LOSS PER SHARE | |||||||||
Net loss per basic and diluted share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Common equivalent shares consist of common shares to be issued upon exercise of stock options, restricted stock units and from participation in our employee stock purchase plan, as calculated using the treasury stock method. All potentially dilutive common equivalent shares are excluded from the calculation of net loss per diluted share due to their anti-dilutive effect. As a result, no common equivalent shares were included in the calculation of net loss per diluted share for the years ended December 31, 2013 or December 31, 2012. The components of net loss per basic and diluted share are as follows: | |||||||||
(In thousands except per share amounts) | Net Loss | Weighted Average Shares Outstanding | Per Share Amount | ||||||
Year Ended December 31, 2013: | |||||||||
Basic | $ | -6,168 | 6,798 | $ | -0.91 | ||||
Dilutive effect of common equivalent shares | — | — | — | ||||||
Dilutive | $ | -6,168 | 6,798 | $ | -0.91 | ||||
(In thousands except per share amounts) | Net Loss | Weighted Average Shares Outstanding | Per Share Amount | ||||||
Year Ended December 31, 2012: | |||||||||
Basic | $ | -6,711 | 6,946 | $ | -0.97 | ||||
Dilutive effect of common equivalent shares | — | — | — | ||||||
Dilutive | $ | -6,711 | 6,946 | $ | -0.97 | ||||
The calculation of diluted net loss per common share excludes 614,000 potentially dilutive shares for the year ended December 31, 2013 and 592,000 potentially dilutive shares for the year ended December 31, 2012, because their effect would be anti-dilutive. | |||||||||
Other_Financial_Statement_Data
Other Financial Statement Data | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Other Financial Statement Data [Abstract] | ' | ||||||||||||||||||
Other Financial Statement Data | ' | ||||||||||||||||||
NOTE 8 – oTHER FINANCIAL STATEMENT DATA | |||||||||||||||||||
Inventories consist of the following: | |||||||||||||||||||
December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Raw materials and purchased parts | $ | 6,690 | $ | 8,152 | |||||||||||||||
Work in process | 1,135 | 1,322 | |||||||||||||||||
Finished goods | 3,506 | 3,059 | |||||||||||||||||
Total inventories | $ | 11,331 | $ | 12,533 | |||||||||||||||
Equipment and leasehold improvements consist of the following: | |||||||||||||||||||
December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Equipment | $ | 10,265 | $ | 10,800 | |||||||||||||||
Leasehold improvements | 1,598 | 1,538 | |||||||||||||||||
11,863 | 12,338 | ||||||||||||||||||
Accumulated depreciation and amortization | -10,591 | -10,619 | |||||||||||||||||
$ | 1,272 | $ | 1,719 | ||||||||||||||||
Total depreciation and amortization expense related to equipment and leasehold improvements was $949,000 for the year ended December 31, 2013 and $958,000 for the year ended December 31, 2012. | |||||||||||||||||||
Intangible assets consist of the following: | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
(In thousands) | Gross Carrying Amount | Accumulated Amortization | Net | Gross Carrying Amount | Accumulated Amortization | Net | |||||||||||||
Patents | $ | 2,915 | $ | -2,779 | $ | 136 | $ | 2,847 | $ | -2,658 | $ | 189 | |||||||
Amortization expense for the years ended December 31, 2013 and 2012 is as follows: | |||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Patents | $ | 121 | $ | 154 | |||||||||||||||
As of December 31, 2013, the weighted average remaining life for our patents was approximately 2.1 years. Amortization of patents has been classified as research and development expense in the accompanying statement of operations. Estimated aggregate amortization expense based on current patent costs for the next three years is expected to be as follows: $81,000 in 2014, $42,000 in 2015, and $13,000 in 2016. | |||||||||||||||||||
Accrued expenses consist of the following: | |||||||||||||||||||
December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Wages and benefits | $ | 862 | $ | 770 | |||||||||||||||
Warranty liability | 513 | 694 | |||||||||||||||||
Restructuring and severance costs | 511 | 192 | |||||||||||||||||
Other | 355 | 184 | |||||||||||||||||
$ | 2,241 | $ | 1,840 | ||||||||||||||||
Warranty costs: | |||||||||||||||||||
We provide for the estimated cost of product warranties, which generally are for one year, at the time revenue is recognized. While we engage in extensive product quality programs and processes, including actively monitoring and evaluating the quality of component suppliers, warranty obligations are affected by product failure rates, material usage and service delivery costs incurred in correcting a product failure. Should actual product failure rates, material usage or service delivery costs differ from our estimates, revisions to the estimated warranty liability would be required and could be material. Our warranty liability is included as a component of accrued expenses. At the end of each reporting period we revise our estimated warranty liability based on these factors. | |||||||||||||||||||
A reconciliation of the changes in our estimated warranty liability is as follows: | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Balance at beginning of period | $ | 694 | $ | 985 | |||||||||||||||
Accrual for warranties | 642 | 745 | |||||||||||||||||
Warranty revision | -5 | -2 | |||||||||||||||||
Settlements made during the period | -818 | -1,034 | |||||||||||||||||
Balance at end of period | $ | 513 | $ | 694 | |||||||||||||||
Deferred warranty revenue: | |||||||||||||||||||
The current portion of our deferred warranty revenue is included as a component of advance customer payments. A reconciliation of the changes in our deferred warranty revenue is as follows: | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Balance at beginning of period | $ | 582 | $ | 806 | |||||||||||||||
Revenue deferrals | 299 | 230 | |||||||||||||||||
Amortization of deferred revenue | -437 | -454 | |||||||||||||||||
Total deferred warranty revenue | 444 | 582 | |||||||||||||||||
Current portion of deferred warranty revenue | -279 | -436 | |||||||||||||||||
Long-term deferred warranty revenue | $ | 165 | $ | 146 | |||||||||||||||
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2013 | |
Goodwill [Abstract] | ' |
Goodwill | ' |
NOTE 9 – GOODWILL | |
We assess our goodwill for impairment in the fourth quarter of each year, and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. In each quarter of 2013, our stock market capitalization fell below our net book value for a period of more than 30 days, indicating that the value of our goodwill might be impaired. | |
In evaluating whether goodwill was impaired, we compared our fair value to our net book value or carrying value (Step 1 of the impairment test). In calculating fair value, we used the income approach. The income approach is a valuation technique under which we estimate future cash flows using financial forecasts. Future estimated cash flows are discounted to their present value to calculate fair value. When considering fair value, we also gave consideration to the control premium in excess of our current market capitalization that might be obtained from a third party acquirer. In the situation where net book value or carrying value exceeds fair value, the amount of impairment loss must be measured. The measurement of impairment (Step 2 of the impairment test) is calculated by determining the implied fair value of goodwill, which equals the excess of any remaining fair value over the fair values assigned to other assets and liabilities. Goodwill impairment is measured as the excess of the carrying amount of goodwill over its implied fair value. | |
In determining fair value under the income approach, our expected cash flows are affected by various assumptions. Fair value on a discounted cash flow basis uses our business plan and projections as the basis for expected future cash flow forecasts, with an estimation of residual growth rates thereafter. For our 2013 and 2012 goodwill impairment tests we utilized a 15% discount rate and our terminal value was based on a multiple equal to 6 times our projected future earnings before interest, taxes, depreciation and amortization. We believe the significant assumptions used in our 2013 and 2012 goodwill impairment tests, including a 15% discount rate, are reflective of the assumptions currently used in the marketplace to evaluate fair value. Our recent analyses indicate that our goodwill at December 31, 2013 and 2012 in the amount of $569,000 is not impaired. | |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
NOTE 10 – INCOME TAXES | |||||||||||||
Loss before income taxes consists of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Sources of income (loss) before income taxes: | |||||||||||||
United States | $ | -7,636 | $ | -4,717 | |||||||||
Foreign | 1,282 | 1,582 | |||||||||||
Total loss before income taxes | $ | -6,354 | $ | -3,135 | |||||||||
The provision (benefit) for income taxes consists of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | -448 | $ | -1,010 | |||||||||
State | 28 | -3 | |||||||||||
Foreign | -45 | -219 | |||||||||||
Total current | $ | -465 | $ | -1,232 | |||||||||
Deferred: | |||||||||||||
Federal | $ | 122 | $ | 4,377 | |||||||||
State | — | 409 | |||||||||||
Foreign | 157 | 22 | |||||||||||
Total deferred | $ | 279 | $ | 4,808 | |||||||||
Total provision (benefit) for income taxes | $ | -186 | $ | 3,576 | |||||||||
A reconciliation of the statutory rate to the effective income tax rate is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Federal statutory rate | 34.0 | % | 34.0 | % | |||||||||
State income taxes, net of federal benefit | 0.7 | 1.0 | |||||||||||
Domestic manufacturing tax deduction | — | -4.7 | |||||||||||
U.S. Subpart F income | -0.7 | -1.8 | |||||||||||
Stock based compensation | — | -0.5 | |||||||||||
Research and experimentation credit | 1.6 | — | |||||||||||
Foreign rate difference | 7.2 | 37.9 | |||||||||||
Reserve for income taxes | 7.1 | 1.8 | |||||||||||
Valuation allowance | -45.9 | -181.1 | |||||||||||
Other, net | -1.1 | -0.6 | |||||||||||
Effective tax rate | 2.9 | % | -114 | % | |||||||||
Our effective tax rate for 2013 and 2012 reflects the impact of having a significant portion of our operations in Singapore where corporate income tax rates are substantially lower than the United States. Lower tax rates in foreign jurisdictions negatively impacted our income tax rate by 7.2% in 2013 and 37.9% in 2012. | |||||||||||||
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits (“UTB”) is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Gross UTB balance at beginning of year | $ | 1,500 | $ | 1,599 | |||||||||
Additions based on tax positions related to the current year | 188 | 92 | |||||||||||
Additions for tax positions of prior years | 123 | 39 | |||||||||||
Reductions for tax positions of prior years | -45 | -75 | |||||||||||
Reductions due to lapse of applicable statute of limitations | -358 | -155 | |||||||||||
Gross UTB balance at end of year | $ | 1,408 | $ | 1,500 | |||||||||
Net UTB balance at end of year | $ | 150 | $ | 686 | |||||||||
The ending net UTB results from adjusting the gross balance for items such as federal, state, and non-U.S. deferred items, interest and penalties, and deductible taxes. The net UTB is a long-term income tax reserve within our Consolidated Balance Sheets. We recognize interest and penalties related to unrecognized tax benefits in tax expense. Accrued interest and penalties on a gross basis were $12,000 as of December 31, 2013 and $169,000 as of December 31, 2012. | |||||||||||||
During the year ended December 31, 2013 we recorded a $450,000 decrease in liabilities for uncertain tax positions that was recorded as income tax benefit. Estimated gross interest and penalties included in this amount total $158,000. During the year ended December 31, 2012 we recorded a $56,000 decrease in liabilities for uncertain tax positions that was recorded as income tax benefit. Estimated gross interest and penalties included in this amount total $23,000. | |||||||||||||
We file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. Our 2012 and 2011 federal income tax returns are still subject to examination by the Internal Revenue Service. During 2012, the Internal Revenue Service completed an audit of our 2010 federal income tax return. The audit resulted in no change to our reported level of taxable income or income tax liability, and had no impact on our financial condition. The statute of limitations for examination of our federal returns for years prior to 2010 expired in 2013. We are no longer subject to state and local income tax examinations by tax authorities for years before 2009. | |||||||||||||
Deferred tax assets and liabilities consist of the following: | |||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||
(In thousands) | Assets | Liabilities | Assets | Liabilities | |||||||||
Fixed asset and intangible amortization, net | $ | 520 | $ | 75 | $ | 683 | $ | 109 | |||||
Inventory allowances | 636 | — | 466 | 15 | |||||||||
Accrued liabilities | 287 | — | 328 | — | |||||||||
Warranty accrual | 178 | — | 241 | — | |||||||||
Deferred revenue | 419 | — | 332 | — | |||||||||
Accounts receivable allowance | 244 | — | 269 | — | |||||||||
Federal and state tax credits | 3,014 | — | 2,569 | — | |||||||||
Federal and state net operating loss carry forwards | 3,138 | — | 634 | — | |||||||||
Foreign net operating loss carry forwards | 838 | — | 882 | — | |||||||||
Stock based compensation | 437 | — | 411 | — | |||||||||
Unrealized gains and losses - other | |||||||||||||
comprehensive income (loss) | 8 | — | 7 | 72 | |||||||||
Other, net | 139 | — | 141 | — | |||||||||
Subtotal | 9,858 | 75 | 6,963 | 196 | |||||||||
Valuation allowance | -9,627 | — | -6,333 | — | |||||||||
Total deferred tax assets and liabilities | $ | 231 | $ | 75 | $ | 630 | $ | 196 | |||||
We currently have significant deferred tax assets as a result of temporary differences between taxable income on our tax returns and U.S. GAAP income, research and development tax credit carry forwards and federal, state and foreign net operating loss carry forwards. A deferred tax asset generally represents future tax benefits to be received when temporary differences previously reported in our financial statements become deductible for income tax purposes, or when net operating loss carry forwards are applied against future taxable income, or when tax credit carry forwards are utilized on our tax returns. We assess the realizability of our deferred tax assets and the need for a valuation allowance based on the guidance provided in current financial accounting standards. | |||||||||||||
Significant judgment is required in determining the realizability of our deferred tax assets. The assessment of whether valuation allowances are required considers, among other matters, the nature, frequency and severity of any current and cumulative losses, forecasts of future profitability, the duration of statutory carry forward periods, our experience with loss carry forwards not expiring unused and tax planning alternatives. | |||||||||||||
We have concluded that a valuation allowance is needed for all of our United States and Singapore based deferred tax assets due to the losses we have sustained since 2011 and our near term financial outlook. In analyzing the need for a valuation allowance, we considered our history of operating results for income tax purposes over the past three years in each of the tax jurisdictions where we operate, statutory carry forward periods and tax planning alternatives. Finally, we considered both our near and long-term financial outlook and timing regarding when we might return to profitability. After considering all available evidence both positive and negative, we concluded that the valuation allowance is needed for all of our U.S. and Singapore based deferred tax assets. A similar analysis was performed in 2012, resulting in a valuation allowance at December 31, 2012 for substantially all of our United States and Singapore based deferred tax assets. We reduced our valuation allowance by $178,000 in 2012 for the effect of various state tax credit carry forwards that expired unused. At December 31, 2013, we had federal R&D tax credit carryforwards of $3,213,000 that will begin to expire in 2019 and a federal net operating loss carry forward of $8,242,000 that will expire begin to expire in 2022, if unused. | |||||||||||||
Deferred tax assets at December 31, 2013, include $156,000 for net operating loss carry forwards incurred in the UK by CyberOptics Ltd., which was acquired in 1999. A valuation allowance has not been recorded against these deferred tax assets. The utilization of these net operating loss carry forwards is dependent on CyberOptics Ltd.’s ability to generate sufficient UK taxable income during the carry forward period. We reduced our deferred tax asset for UK net operating loss carry forwards by $8,000 in 2013 and $14,000 in 2012 due to reductions in the future UK income tax rate. | |||||||||||||
Cash refunds received for income taxes, net of payments, were $1,269,000 for the year ended December 31, 2013. Cash payments for income taxes, net of refunds received, were $170,000 for the year ended December 31, 2012. | |||||||||||||
Management is considering a repatriation of some portion of the undistributed earnings of its Singapore based subsidiary. Any such repatriation is not expected to have a significant impact on our financial position or results of operations. | |||||||||||||
Operating_Leases
Operating Leases | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Operating Leases [Abstract] | ' | |||
Operating Leases | ' | |||
NOTE 11 – OPERATING LEASES | ||||
We lease a 50,724 square foot mixed office and warehouse facility in Golden Valley, Minnesota. The lease has a term of 90 months and expires on December 31, 2018. The lease contains an escalation clause and two renewal options of three years each. Rental expense, including the effects of lease incentives, is recognized on a straight-line basis over the term of the lease. We are also required to pay insurance, property taxes and other operating expenses related to the leased facility. | ||||
We lease a 19,805 square foot mixed office and warehouse facility in Singapore. The lease for our facility in Singapore expires in July 2016, contains an escalation clause and one three year renewal option. Rental expense is recognized on a straight-line basis over the three year lease term. In addition, we lease facilities for the operations of our other subsidiaries under operating leases that expire at various times through June 2018. | ||||
Total rent expense was $1,141,000 for the year ended December 31, 2013 and $1,160,000 for the year ended December 31, 2012. At December 31, 2013, the future minimum lease payments required under non-cancelable operating lease agreements are as follows: | ||||
Year ending December 31, | (In thousands) | |||
2014 | $ | 782 | ||
2015 | 782 | |||
2016 | 651 | |||
2017 | 482 | |||
2018 | 495 | |||
Total | $ | 3,192 | ||
401K_And_Other_Defined_Contrib
401(K) And Other Defined Contribution Plans | 12 Months Ended |
Dec. 31, 2013 | |
401(K) And Other Defined Contribution Plans [Abstract] | ' |
401(K) And Other Defined Contribution Plans | ' |
NOTE 12 – 401(K) AND OTHER DEFINED CONTRIBUTION PLANS | |
We have a retirement savings plan pursuant to Section 401(k) of the Internal Revenue Code (the Code), whereby eligible employees may contribute a portion of their earnings, not to exceed annual amounts allowed under the Code. In addition, we may also make contributions at the discretion of the Board of Directors. We provided matching contributions to employees totaling $218,000 in 2013 and $246,000 in 2012. | |
We also contribute to defined contribution retirement savings plans on behalf of our employees in the United Kingdom. We made contributions to these plans totaling $39,000 in 2013 and $35,000 in 2012. | |
Significant_Customers_Geograph
Significant Customers, Geographic Areas, And Business Segments | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Significant Customers, Geographic Areas, And Business Segments [Abstract] | ' | |||||||||
Significant Customers, Geographic Areas, And Business Segments | ' | |||||||||
NOTE 13 – SIGNIFICANT CUSTOMERS, GEOGRAPHIC AREAS, and business segments | ||||||||||
The following summarizes our revenue by product line: | ||||||||||
(In thousands) | 2013 | 2012 | ||||||||
SMT Sensors | $ | 10,792 | $ | 13,187 | ||||||
Semiconductor Sensors | 7,096 | 6,363 | ||||||||
SMT Inspection Systems | 15,420 | 22,094 | ||||||||
Total | $ | 33,308 | $ | 41,644 | ||||||
The following summarizes certain significant customer information: | ||||||||||
(In thousands) | Significant Customer | Revenues | Percentage of Revenues | |||||||
Year ended December 31, 2013 | A | $ | 5,870 | 18% | ||||||
B | $ | 2,257 | 7% | |||||||
Year ended December 31, 2012 | A | $ | 5,428 | 13% | ||||||
B | $ | 4,886 | 12% | |||||||
As of December 31, 2013, accounts receivable from significant customer A were $578,000 and accounts receivable from significant customer B were $604,000. As of December 31, 2012, accounts receivable from significant customer A were $312,000 and accounts receivable from significant customer B were $414,000. | ||||||||||
Our LaserAlign® sensor family has historically accounted for a significant portion of our revenues and profitability. Revenue from product shipments of LaserAlign sensors accounted for 20% of our total revenue in 2013 and 18% of our total revenue in 2012. Our revenue, results of operations and cash flows would be negatively impacted if our LaserAlign customers are unsuccessful selling the products into which our sensors are incorporated, design their products to function without our sensors, purchase sensors from other suppliers, or otherwise terminate their relationships with us. | ||||||||||
Export sales as a percentage of total sales were 78% for the year ended December 31, 2013 and 85% for the year ended December 31, 2012. Export sales are attributed to the country where the product is shipped. Substantially all of our export sales are negotiated, invoiced and paid in U.S. dollars. | ||||||||||
Revenue by geographic area is summarized as follows: | ||||||||||
Year Ended December 31, | ||||||||||
(In thousands) | 2013 | 2012 | ||||||||
United States | $ | 7,339 | $ | 6,165 | ||||||
Americas | 999 | 1,511 | ||||||||
Netherlands | 2,257 | 4,920 | ||||||||
Other Europe | 6,505 | 7,435 | ||||||||
China | 2,645 | 8,356 | ||||||||
Japan | 6,690 | 6,403 | ||||||||
Other Asia | 6,465 | 6,273 | ||||||||
Other | 408 | 581 | ||||||||
Total export sales | $ | 33,308 | $ | 41,644 | ||||||
Long-lived assets include equipment and leasehold improvements attributable to each geographic area’s operations. Long-lived assets at December 31, 2013 and 2012 are as follows: | ||||||||||
(In thousands) | 2013 | 2012 | ||||||||
Long-lived assets: | ||||||||||
United States | $ | 816 | $ | 929 | ||||||
Europe | 23 | 5 | ||||||||
Asia and other | 433 | 785 | ||||||||
Total long-lived assets | $ | 1,272 | $ | 1,719 | ||||||
ReOrganization_And_Restructure
Re-Organization And Restructure Charge | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Re-Organization And Restructure Charge [Abstract] | ' | ||||||||||||
Re-Organization And Restructure Charge | ' | ||||||||||||
NOTE 14 – RESTRUCTURING AND SEVERANCE COSTS | |||||||||||||
In the fourth quarter of 2013, we initiated a plan to reduce our global workforce by approximately 30 employees. Expenses for contract workers were also reduced. The workforce reduction was undertaken in response to soft sales, particularly SMT inspection systems, in order to strengthen our commitment to cost control, minimize losses and to improve focus on market support for our products. Restructuring and severance expenses in the fourth quarter of 2013, primarily resulting from the workforce reduction, totaled $952,000. | |||||||||||||
In the third quarter of 2012, we consolidated research and development for our semiconductor products into our Minneapolis headquarters facility, resulting in a $217,000 restructuring charge for severance and relocation expenses. We believe this move streamlined our business and provided our sensor engineers in Minneapolis with more efficient access to our WaferSense® technology and products. Additional severance costs of $523,000 were incurred in the fourth quarter of 2012 when we reduced our global workforce by approximately 10% or 20 employees in response to the sluggish economy and weak SMT, semiconductor and solar market conditions. | |||||||||||||
A summary of our restructuring accrual follows: | |||||||||||||
(In thousands) | Fourth Quarter 2013 Workforce Reduction | Fourth Quarter 2012 Workforce Reduction | Semi R&D Consolidation | Total | |||||||||
Balance, December 31, 2011 | $ | — | $ | — | $ | — | $ | — | |||||
Cost incurred | — | 523 | 217 | 740 | |||||||||
Payments made | — | 331 | 217 | 548 | |||||||||
Balance, December 31, 2012 | — | 192 | — | 192 | |||||||||
Cost incurred | 952 | — | — | 952 | |||||||||
Payments made | 441 | 192 | — | 633 | |||||||||
Balance, December 31, 2013 | $ | 511 | $ | — | $ | — | $ | 511 | |||||
The remaining accrued severance in the amount of $511,000 at December 31, 2013 will be paid prior to July 1, 2014. | |||||||||||||
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Contingencies [Abstract] | ' |
Contingencies | ' |
NOTE 15 – CONTINGENCIES | |
We are periodically a defendant in miscellaneous claims and disputes in the ordinary course of business. While the outcome of these matters cannot be predicted with certainty, management presently believes the disposition of these matters will not have a material effect on our financial position, results of operations or cash flows. | |
In the normal course of business to facilitate sales of our products and services, we at times indemnify other parties, including customers, with respect to certain matters. In these instances, we have agreed to hold the other parties harmless against losses arising out of intellectual property infringement or other types of claims. These agreements may limit the time within which an indemnification claim can be made, and almost always limit the amount of the claim. It is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made, if any, under these agreements have not had a material impact on our operating results, financial position or cash flows. | |
Share_Repurchase
Share Repurchase | 12 Months Ended |
Dec. 31, 2013 | |
Share Repurchase [Abstract] | ' |
Share Repurchase | ' |
NOTE 16 – SHARE REPURCHASE | |
In October 2012 our Board of Directors authorized a $3.0 million share repurchase program. We adopted a 10b5-1 trading plan to implement the program. In 2013, we spent $3.0 million to repurchase 508,535 shares of our common stock. The share repurchase program concluded in the fourth quarter of 2013 and no more share repurchases will be made under the October 2012 authorization. | |
Subsequent_Event_Acquisition
Subsequent Event - Acquisition | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Event - Acquisition [Abstract] | ' |
Subsequent Event - Acquisition | ' |
NOTE 17 – SUBSEQUENT EVENT - ACQUISITION | |
On March 14, 2014 we acquired substantially all of the assets of Laser Design, Inc. (LDI), a privately held company based in Minneapolis, Minnesota for aggregate consideration of $2.7 million in cash plus the assumption of certain current liabilities. With revenues of approximately $6.0 million, LDI provides scanning systems and services to the global 3D scanner and services metrology market. | |
The assets acquired consist primarily of accounts receivable, inventory, equipment, intangibles and contract rights. At the date of issuance of the financial statements, the initial business combination accounting was not complete for this acquisition. The impact of the acquisition is not expected to be material to our consolidated financial position or results of operations. | |
Quarterly_Financial_Informatio
Quarterly Financial Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Quarterly Financial Information [Abstract] | ' | ||||||||||||
Quarterly Financial Information | ' | ||||||||||||
NOTE 18 – QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | |||||||||||||
(In thousands, except per share amounts) | |||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||
Revenues | $ | 6,713 | $ | 9,317 | $ | 8,726 | $ | 8,552 | |||||
Gross margin | 2,939 | 4,074 | 4,006 | 3,631 | |||||||||
Loss from operations (2) | -2,024 | -1,171 | -961 | -2,010 | |||||||||
Net loss | -2,146 | -1,200 | -774 | -2,048 | |||||||||
Net loss per share - Basic (1) | -0.31 | -0.17 | -0.11 | -0.31 | |||||||||
Net loss per share - Diluted (1) | -0.31 | -0.17 | -0.11 | -0.31 | |||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||
Revenues | $ | 11,280 | $ | 13,003 | $ | 11,558 | $ | 5,803 | |||||
Gross margin | 5,235 | 5,529 | 5,081 | 2,334 | |||||||||
Income (loss) from operations (3) | 92 | 98 | -589 | -2,712 | |||||||||
Net income (loss) (4) | 92 | 143 | -447 | -6,499 | |||||||||
Net income (loss) per share - Basic (1) | 0.01 | 0.02 | -0.06 | -0.93 | |||||||||
Net income (loss) per share - Diluted (1) | 0.01 | 0.02 | -0.06 | -0.93 | |||||||||
-1 | The summation of quarterly per share amounts may not equal the calculation for the full year, as each quarterly calculation is performed discretely. | ||||||||||||
-2 | Includes a restructuring and severance charge of $952,000 in the fourth quarter of 2013. | ||||||||||||
-3 | Includes restructuring charges of $217,000 in the third quarter and $523,000 in the fourth quarter of 2012. | ||||||||||||
-4 | Includes a $5.7 million non-cash charge in the fourth quarter of 2012 to record a valuation allowance against our deferred tax assets. | ||||||||||||
Business_Description_And_Signi1
Business Description And Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2013 | |
Business Description And Significant Accounting Policies [Abstract] | ' |
Principles of Consolidation | ' |
Principles of Consolidation | |
The consolidated financial statements include the accounts of CyberOptics Corporation and its wholly-owned subsidiaries. In these Notes to the Consolidated Financial Statements, these companies are collectively referred to as “CyberOptics,” “we,” “us,” or “our.” All significant inter-company accounts and transactions have been eliminated in consolidation. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. | |
Cash Equivalents | ' |
Cash Equivalents | |
We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. Cash and cash equivalents consist of funds maintained in demand deposit accounts, money market accounts, corporate debt instruments and U.S. government backed obligations. Some cash and cash equivalent balances may exceed federally insured limits. | |
Marketable Securities | ' |
Marketable Securities | |
All marketable securities are classified as available-for-sale and consist of U.S. government backed obligations, certificates of deposit, corporate debt instruments, asset backed securities or equity securities. Marketable securities are classified as short-term or long-term in the balance sheet based on their maturity date and expectations regarding sales. | |
Available-for-sale securities are carried at fair value, with unrealized gains and losses reported as a separate component of stockholders’ equity until realized. These fair values are primarily determined using quoted market prices. The carrying amounts of securities, for purposes of computing unrealized gains and losses, are determined by specific identification. The cost of securities sold is also determined by specific identification. | |
We monitor the carrying value of our investments compared to their fair value to determine whether an other-than-temporary impairment has occurred. If a decline in fair value is determined to be other-than-temporary, an impairment charge related to that specific investment is recorded in current operations. | |
Cash and marketable securities held by foreign subsidiaries totaled $903,000 at December 31, 2013 and $3,585,000 at December 31, 2012. | |
Inventories | ' |
Inventories | |
Inventories are stated at the lower of cost or market, with cost determined using the first-in, first-out (FIFO) method. Appropriate consideration is given to deterioration, obsolescence, and other factors in evaluating net realizable value. Demonstration inventories are stated at cost less accumulated amortization, generally based on a 36 month useful life. | |
Accumulated amortization for demonstration inventories totaled $908,000 at December 31, 2013 and $897,000 at December 31, 2012. | |
Allowance For Doubtful Accounts | ' |
Allowance for Doubtful Accounts | |
Allowances for doubtful accounts are maintained for estimated losses resulting from the inability of our customers to make required payments. In making the determination of the appropriate allowance for doubtful accounts, we consider specific accounts, historical write-offs, changes in customer relationships and credit worthiness and concentrations of credit risk. Specific accounts receivable are written-off once a determination is made that the account is uncollectible. | |
Equipment and Leasehold Improvements | ' |
Equipment and Leasehold Improvements | |
Equipment and leasehold improvements are stated at cost. Significant additions or improvements extending asset lives are capitalized, while repairs and maintenance are charged to expense as incurred. In-progress costs are capitalized with depreciation beginning when assets are placed in service. Depreciation is recorded using the straight-line method over the estimated useful lives of the equipment, ranging from three to ten years. Leasehold improvements are amortized using the straight-line method over the shorter of the asset useful life or the underlying lease term. Gains or losses on dispositions are included in current operations. | |
Goodwill | ' |
Goodwill | |
Goodwill represents the excess of purchase price over the fair value of net assets acquired in a business combination. We evaluate the carrying value of goodwill during the fourth quarter of each year and between annual evaluations if events occur or circumstances change that indicate goodwill might be impaired. Goodwill is tested by comparing our fair value, as determined based on our future estimated discounted cash flows, to our net book value. | |
Patents | ' |
Patents | |
Patents consist of legal and patent registration costs for protection of our proprietary technology. We amortize patent costs on a straight-line basis, based upon their estimated life. | |
Long Lived Assets | ' |
Long Lived Assets | |
Intangible assets subject to amortization and other long lived assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. An impairment loss would be recognized when future undiscounted cash flows expected to result from use of the asset and eventual disposition are less than the carrying amount. | |
Revenue Recognition | ' |
Revenue Recognition | |
Revenue from all customers, including distributors, is recognized when all significant contractual obligations have been satisfied and collection of the resulting receivable is reasonably assured. Generally, revenues are recognized upon shipment under FOB shipping point terms, and include shipping and handling costs. Taxes collected from customers and remitted to governmental authorities are excluded from revenues. Estimated returns and warranty costs are recorded at the time of sale. Sales of some SMT system products may require customer acceptance due to performance or other acceptance criteria included in the terms of sale. For these SMT product sales, revenue is recognized at the time of customer acceptance. Our multiple deliverable arrangements typically include the sale of an SMT inspection system, installation and training, and in some cases, an extended warranty. Revenue from installation and training and extended warranty are recognized as the services are provided, typically within one month of shipment in the case of installation and training. Extended warranties are typically for a second or third year of coverage beyond the basic one year warranty included with all SMT sales. | |
When a sale involves multiple elements, revenue is allocated to each respective element at inception of an arrangement using the relative selling price method. Selling price is determined based on a selling price hierarchy, consisting of vendor specific objective evidence (VSOE), third party evidence or estimated selling price. Management’s best estimate of the selling price of an SMT machine is based on the cost build-up of the product and a reasonable margin based on geographic location and market conditions. We use VSOE to establish selling price for extended warranty, installation and training services. If VSOE is not available to establish selling price for extended warranty, installation and training services, we estimate a selling price based on the cost build-up for the particular service and a reasonable gross margin. Costs related to products delivered are recognized in the period revenue is recognized. Cost of revenues consists primarily of direct labor, manufacturing overhead, raw materials and components and excludes amortization of intangible assets. | |
Foreign Currency Translation And Transactions | ' |
Foreign Currency Translation | |
Financial position and results of operations of our international subsidiaries are measured using local currency as their functional currency. Assets and liabilities of these operations are translated at the exchange rates in effect at each fiscal year-end. Statements of operations accounts are translated at the average rates of exchange prevailing during the year. Translation adjustments arising from the use of differing exchange rates from period to period are included as a cumulative translation adjustment in stockholders’ equity. | |
Foreign Currency Transactions | |
Foreign currency transaction gains and losses are included in interest income and other in the statement of operations. We recognized foreign currency transaction losses of $117,000 in 2013 and $11,000 in 2012. | |
Research and Development | ' |
Research and Development | |
Research and development (R&D) costs, including software development, are expensed when incurred. Software development costs are required to be expensed until the point that technological feasibility and proven marketability of the product are established; costs otherwise capitalizable after such point also are expensed because they are insignificant. All other R&D costs are expensed as incurred. R&D expenses consist primarily of salaries, project materials, contract labor and other costs associated with ongoing product development and enhancement efforts. | |
Derivatives and Hedging | ' |
Derivatives and Hedging | |
We enter into foreign exchange forward contracts to hedge against the effect of exchange rate fluctuations on cash flows denominated in foreign currencies associated with our subsidiary in Singapore. These transactions are designated as cash flow hedges and are recorded in the accompanying balance sheet at fair value. The effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. Cash flows from derivative instruments are classified in the statement of cash flows in the same category as the cash flows from the items subject to designated hedge relationships. | |
Advertising Costs | ' |
Advertising Costs | |
We expense all advertising costs as incurred. Advertising expense incurred was $113,000 in 2013 and $96,000 in 2012. | |
Warranty Costs | ' |
Warranty Costs | |
We provide for the estimated cost of product warranties (which generally cover products for one year) at the time revenue is recognized. | |
Income Taxes | ' |
Income Taxes | |
We evaluate uncertain tax positions using the “more likely than not” threshold (i.e., a likelihood of occurrence greater than fifty percent). The recognition threshold is met when an entity concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination by the relevant taxing authority. Those tax positions failing to qualify for initial recognition are classified as a gross unrecognized tax benefit until the first interim period in which they meet the more likely than not standard, or are resolved through negotiation or litigation with the taxing authority, or upon expiration of the statute of limitations. De-recognition of a tax position that was previously recognized occurs when an entity subsequently determines that a tax position no longer meets the more likely than not threshold of being sustained. | |
Only the portion of the unrecognized tax benefit that is expected to be paid within one year is classified as a current liability. As a result, liabilities expected to be resolved without the payment of cash (e.g. resolution due to the expiration of the statute of limitations) or are not expected to be paid within one year are not classified as current. It is our policy to record estimated interest and penalties as income tax expense and tax credits as a reduction in income tax expense. | |
Deferred income taxes are recorded to reflect the tax consequences in future years of differences between the financial reporting and tax bases of assets and liabilities. Income tax expense is the sum of the tax currently payable and the change in the deferred tax assets and liabilities during the period, excluding changes in deferred tax assets recorded to equity and goodwill. Valuation allowances are established when, in the opinion of management, there is uncertainty that some portion or all of the deferred tax assets will not be realized. We assess the realizability of our deferred tax assets and the need for a valuation allowance based on all positive and negative evidence. | |
Net Loss Per Share | ' |
Net Loss Per Share | |
Net loss per basic and diluted share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Common equivalent shares consist of common shares to be issued upon exercise of stock options, restricted stock units and from participation in our employee stock purchase plan, as calculated using the treasury stock method. All potentially dilutive common equivalent shares are excluded from the calculation of net loss per diluted share due to their anti-dilutive effect. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The carrying amounts of financial instruments such as cash equivalents, accounts receivable, income tax refunds receivable, other assets, accounts payable, accrued expenses and other current liabilities approximate their related fair values due to the short-term maturities of these instruments. | |
Share-Based Compensation | ' |
Stock-Based Compensation | |
All equity-based payments to employees, including grants of employee stock options, are required to be recognized as an expense in our consolidated statements of operations based on the grant date fair value of the award. We utilize the straight-line method of expense recognition over the award’s service period for our graded vesting options. The fair value of stock options has been determined using the Black-Scholes model. The compensation expense recognized for all equity based awards is net of estimated forfeitures, which is based on historical data. We have classified equity based compensation within our statement of operations in the same manner as our cash based employee compensation costs. We elected to use the alternative transition guidance known as the “short-cut method” to determine our pool of windfall tax benefits at January 1, 2006. | |
See Note 6 to the Consolidated Financial Statements for additional information on stock-based compensation. | |
Recent Accounting Developments | ' |
Recent Accounting Developments | |
In February 2013, the FASB issued amended disclosure requirements for amounts classified out of other comprehensive income to improve the transparency of reporting these reclassifications (ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income). The amended guidance requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. We adopted the amended guidance effective January 1, 2013. Our adoption of the amended disclosure requirements will have no impact on our consolidated financial results as the amendments relate only to changes in financial statement presentation. | |
In July 2013, the FASB issued guidance regarding the presentation of an unrecognized tax benefit when a net operating loss carry forward, a similar tax loss, or a tax credit carry forward exists (ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry forward, a Similar Tax Loss, or a Tax Credit Carry forward Exists). Under certain circumstances, unrecognized tax benefits should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry forward, a similar tax loss, or a tax credit carry forward. The guidance is a change in financial statement presentation only and has no material impact on consolidated financial results. The guidance is effective beginning January 1, 2014 on either a prospective or retrospective basis. | |
Marketable_Securities_Tables
Marketable Securities (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Marketable Securities [Abstract] | ' | |||||||||
Schedule Of Marketable Securities | ' | |||||||||
31-Dec-13 | ||||||||||
(In thousands) | Cost | Unrealized Gains | Unrealized Losses | Fair Value | ||||||
Short-Term | ||||||||||
U.S. government and agency obligations | $ | 6,299 | $ | 10 | $ | — | $ | 6,309 | ||
Corporate debt securities and certificates of deposit | 3,091 | 2 | — | 3,093 | ||||||
Marketable securities – short-term | $ | 9,390 | $ | 12 | $ | — | $ | 9,402 | ||
Long-Term | ||||||||||
U.S. government and agency obligations | $ | 4,783 | $ | 7 | $ | — | $ | 4,790 | ||
Corporate debt securities and certificates of deposit | 3,417 | 1 | -5 | 3,413 | ||||||
Asset backed securities | 2,474 | 2 | -1 | 2,475 | ||||||
Equity security | 42 | 22 | — | 64 | ||||||
Marketable securities – long-term | $ | 10,716 | $ | 32 | $ | -6 | $ | 10,742 | ||
31-Dec-12 | ||||||||||
(In thousands) | Cost | Unrealized Gains | Unrealized Losses | Fair Value | ||||||
Short-Term | ||||||||||
U.S. government and agency obligations | $ | 7,358 | $ | 10 | $ | -35 | $ | 7,333 | ||
Corporate debt securities and certificates of deposit | 4,100 | 5 | — | 4,105 | ||||||
Marketable securities – short-term | $ | 11,458 | $ | 15 | $ | -35 | $ | 11,438 | ||
Long-Term | ||||||||||
U.S. government and agency obligations | $ | 9,033 | $ | 23 | $ | -23 | $ | 9,033 | ||
Corporate debt securities and certificates of deposit | 1,192 | 4 | -1 | 1,195 | ||||||
Asset back securities | 165 | — | — | 165 | ||||||
Equity security | 42 | — | — | 42 | ||||||
Marketable securities – long-term | $ | 10,432 | $ | 27 | $ | -24 | $ | 10,435 | ||
Schedule Of Marketable Securities Classified As Cash Equivalents | ' | |||||||||
31-Dec-13 | ||||||||||
(In thousands) | Cost | Unrealized Gains | Unrealized Losses | Recorded | ||||||
Basis | ||||||||||
Corporate debt securities and certificates of deposit | $ | 327 | $ | — | $ | — | $ | 327 | ||
$ | 327 | $ | — | $ | — | $ | 327 | |||
31-Dec-12 | ||||||||||
(In thousands) | Cost | Unrealized Gains | Unrealized Losses | Recorded | ||||||
Basis | ||||||||||
Corporate debt securities and certificates of deposit | $ | 2,824 | $ | — | $ | — | $ | 2,824 | ||
$ | 2,824 | $ | — | $ | — | $ | 2,824 | |||
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Derivatives [Abstract] | ' | |||||||||
Schedule Of Cash Flow Hedges | ' | |||||||||
Year Ended December 31, 2013 | ||||||||||
(In thousands) | Pretax Loss Recognized in Other Comprehensive Loss on Effective | Pretax Loss Recognized in Earnings on Effective Portion of Derivative as a Result of Reclassification from Accumulated Other Comprehensive Loss | Ineffective Portion of Gain (Loss) on Derivative and Amount Excluded from Effectiveness Testing Recognized in Earnings | |||||||
Portion of Derivative | ||||||||||
Cost of revenues | $ | -169 | $ | -16 | $ | — | ||||
Research and development | -63 | -20 | — | |||||||
Selling, general and administrative | -48 | -17 | — | |||||||
Total | $ | -280 | $ | -53 | $ | — | ||||
Year Ended December 31, 2012 | ||||||||||
(In thousands) | Pretax Loss Recognized in Other Comprehensive Loss on Effective | Pretax Loss Recognized in Earnings on Effective Portion of Derivative as a Result of Reclassification from Accumulated Other Comprehensive Loss | Ineffective Portion of Gain (Loss) on Derivative and Amount Excluded from Effectiveness Testing Recognized in Earnings | |||||||
Portion of Derivative | ||||||||||
Cost of revenues | $ | 410 | $ | -57 | $ | — | ||||
Research and development | 103 | -12 | — | |||||||
Selling, general and administrative | 78 | -5 | — | |||||||
Total | $ | 591 | $ | -74 | $ | — | ||||
Comprehensive_Income_Loss_Tabl
Comprehensive Income (Loss) (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||||
Schedule Of Other Comprehensive Income (Loss) | ' | ||||||||||||||||||
Year Ended | Year Ended | ||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
(In thousands) | Before Tax | Tax Effect | Net of Tax Amount | Before Tax | Tax Effect | Net of Tax Amount | |||||||||||||
Foreign currency translation | |||||||||||||||||||
adjustments | $ | -211 | $ | — | $ | -211 | $ | 376 | $ | — | $ | 376 | |||||||
Net changes related to | |||||||||||||||||||
available-for-sale securities: | |||||||||||||||||||
Unrealized gains (losses) | 34 | — | 34 | -79 | -18 | -61 | |||||||||||||
Reclassification adjustment for | |||||||||||||||||||
other-than-temporary impairment | |||||||||||||||||||
loss included in net loss | — | — | — | 42 | 15 | 27 | |||||||||||||
Reclassification adjustment for | |||||||||||||||||||
(gains) losses included in net loss | 21 | — | 21 | -8 | -1 | -7 | |||||||||||||
Total net changes related to | |||||||||||||||||||
available-for-sale securities | 55 | — | 55 | -45 | -4 | -41 | |||||||||||||
Net changes related to foreign | |||||||||||||||||||
exchange forward contracts: | |||||||||||||||||||
Unrealized gains (losses) | -280 | — | -280 | 591 | 206 | 385 | |||||||||||||
Reclassification adjustment for | |||||||||||||||||||
losses included in net loss | 53 | — | 53 | 74 | 25 | 49 | |||||||||||||
Total net changes related to | |||||||||||||||||||
foreign exchange forward contracts | -227 | — | -227 | 665 | 231 | 434 | |||||||||||||
Other comprehensive income (loss) | $ | -383 | $ | — | $ | -383 | $ | 996 | $ | 227 | $ | 769 | |||||||
The Effect Of The Reclassification From Comprehensive Income (Loss) To Earnings | ' | ||||||||||||||||||
Details about Components | Affected Line Item in the Statements of Operations | ||||||||||||||||||
of Accumulated Other | |||||||||||||||||||
Comprehensive Loss | |||||||||||||||||||
Year Ended | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Unrealized gains (losses) on | |||||||||||||||||||
available-for-sale securities | $ | -21 | $ | 8 | Interest income and other | ||||||||||||||
— | 1 | Income tax provision (benefit) | |||||||||||||||||
$ | -21 | $ | 7 | Net of tax | |||||||||||||||
Unrealized losses | |||||||||||||||||||
on foreign exchange | |||||||||||||||||||
forward contracts | $ | -16 | $ | -57 | Cost of revenues | ||||||||||||||
-20 | -12 | Research and development expenses | |||||||||||||||||
-17 | -5 | Selling, general and administrative expenses | |||||||||||||||||
-53 | -74 | Total before tax | |||||||||||||||||
— | -25 | Income tax provision (benefit) | |||||||||||||||||
$ | -53 | $ | -49 | Net of tax | |||||||||||||||
Schedule Of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||
(In thousands) | Foreign Currency Translation Adjustments | Available-for-Sale Securities | Foreign Exchange Forward Contracts | Accumulated Other Comprehensive Loss | |||||||||||||||
Balances at December 31, 2011 | $ | -621 | $ | 18 | $ | -323 | $ | -926 | |||||||||||
Other comprehensive income (loss) before | |||||||||||||||||||
reclassifications | 376 | -61 | 385 | 700 | |||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||
comprehensive loss | — | 20 | 49 | 69 | |||||||||||||||
Total change for the period | 376 | -41 | 434 | 769 | |||||||||||||||
Balances at December 31, 2012 | $ | -245 | $ | -23 | $ | 111 | $ | -157 | |||||||||||
Other comprehensive income (loss) before | |||||||||||||||||||
reclassifications | -211 | 34 | -280 | -457 | |||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||
comprehensive loss | — | 21 | 53 | 74 | |||||||||||||||
Total change for the period | -211 | 55 | -227 | -383 | |||||||||||||||
Balances at December 31, 2013 | $ | -456 | $ | 32 | $ | -116 | $ | -540 | |||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||
Fair Value Measurements For Marketable Securities And Foreign Exchange Forward Contracts | ' | ||||||||||||
Fair Value Measurements at | |||||||||||||
December 31, 2013 Using | |||||||||||||
(In thousands) | Balance December 31, 2013 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||
Marketable securities: | |||||||||||||
U.S. government and agency obligations | $ | 11,099 | $ | — | $ | 11,099 | $ | — | |||||
Corporate debt securities and certificates of deposit | 6,506 | — | 6,506 | — | |||||||||
Asset backed securities | 2,475 | — | 2,475 | — | |||||||||
Equity security | 64 | 64 | — | — | |||||||||
Total marketable securities | $ | 20,144 | $ | 64 | $ | 20,080 | $ | — | |||||
Derivative instruments-liabilities: | |||||||||||||
Foreign exchange forward contracts | $ | 58 | $ | — | $ | 58 | $ | — | |||||
Fair Value Measurements at | |||||||||||||
December 31, 2012 Using | |||||||||||||
(In thousands) | Balance December 31, 2012 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||
Marketable securities: | |||||||||||||
U.S. government and agency obligations | $ | 16,366 | $ | — | $ | 16,366 | $ | — | |||||
Corporate debt securities and certificates of deposit | 5,300 | — | 5,300 | — | |||||||||
Asset backed securities | 165 | — | 165 | — | |||||||||
Equity security | 42 | 42 | — | — | |||||||||
Total marketable securities | $ | 21,873 | $ | 42 | $ | 21,831 | $ | — | |||||
Derivative instruments-assets: | |||||||||||||
Foreign exchange forward contracts | $ | 153 | $ | — | $ | 153 | $ | — | |||||
Accounting_For_StockBased_Comp1
Accounting For Stock-Based Compensation (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Accounting For Stock-Based Compensation [Abstract] | ' | |||||
Summary Of Pre-tax Equity Based Compensation Expense | ' | |||||
(In thousands) | 2013 | 2012 | ||||
Pre-tax equity compensation expense | $ | 447 | $ | 449 | ||
Income tax benefits related to equity based compensation | $ | — | $ | — | ||
Schedule Of Stock Option Valuation Assumptions | ' | |||||
2013 | 2012 | |||||
Risk-free interest rates | 1.51% | 0.70% - 0.86% | ||||
Expected life in years | 5.31 - 5.48 | 4.95 - 5.20 | ||||
Expected volatility | 46.58% | 45.81% - 46.47% | ||||
Dividend yield | 0.00% | 0.00% | ||||
Weighted average fair value on grant date | $2.34 | $3.01 | ||||
Schedule Of Stock Option Activity | ' | |||||
Options Outstanding | Weighted Average Exercise Price Per Share | |||||
Outstanding, December 31, 2012 | 544,153 | $ | 8.68 | |||
Granted | 86,750 | 5.39 | ||||
Exercised | -5,000 | 4.99 | ||||
Expired | -38,170 | 11.09 | ||||
Forfeited | -1,250 | 8.71 | ||||
Outstanding, December 31, 2013 | 586,483 | $ | 8.07 | |||
Exercisable, December 31, 2013 | 338,197 | $ | 8.92 | |||
Schedule Of Non-Vested Restricted Stock Activity | ' | |||||
Non-vested restricted stock units | Shares | Weighted Average Grant Date Fair Value | ||||
Non-vested at December 31, 2012 | 44,555 | $ | 7.61 | |||
Granted | 15,750 | 5.39 | ||||
Vested | -12,946 | 7.76 | ||||
Forfeited | -416 | 8.71 | ||||
Non-vested at December 31, 2013 | 46,943 | $ | 6.82 | |||
Net_Income_Loss_Per_Share_Tabl
Net Income (Loss) Per Share (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Net Income (Loss) Per Share [Abstract] | ' | ||||||||
Schedule Of Net Income (Loss) Per Basic And Diluted Shares | ' | ||||||||
(In thousands except per share amounts) | Net Loss | Weighted Average Shares Outstanding | Per Share Amount | ||||||
Year Ended December 31, 2013: | |||||||||
Basic | $ | -6,168 | 6,798 | $ | -0.91 | ||||
Dilutive effect of common equivalent shares | — | — | — | ||||||
Dilutive | $ | -6,168 | 6,798 | $ | -0.91 | ||||
(In thousands except per share amounts) | Net Loss | Weighted Average Shares Outstanding | Per Share Amount | ||||||
Year Ended December 31, 2012: | |||||||||
Basic | $ | -6,711 | 6,946 | $ | -0.97 | ||||
Dilutive effect of common equivalent shares | — | — | — | ||||||
Dilutive | $ | -6,711 | 6,946 | $ | -0.97 | ||||
Other_Financial_Statement_Data1
Other Financial Statement Data (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Other Financial Statement Data [Abstract] | ' | ||||||||||||||||||
Schedule Of Inventory Components | ' | ||||||||||||||||||
December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Raw materials and purchased parts | $ | 6,690 | $ | 8,152 | |||||||||||||||
Work in process | 1,135 | 1,322 | |||||||||||||||||
Finished goods | 3,506 | 3,059 | |||||||||||||||||
Total inventories | $ | 11,331 | $ | 12,533 | |||||||||||||||
Schedule Of Equipment And Leasehold Improvements | ' | ||||||||||||||||||
December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Equipment | $ | 10,265 | $ | 10,800 | |||||||||||||||
Leasehold improvements | 1,598 | 1,538 | |||||||||||||||||
11,863 | 12,338 | ||||||||||||||||||
Accumulated depreciation and amortization | -10,591 | -10,619 | |||||||||||||||||
$ | 1,272 | $ | 1,719 | ||||||||||||||||
Schedule Of Intangible Assets | ' | ||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
(In thousands) | Gross Carrying Amount | Accumulated Amortization | Net | Gross Carrying Amount | Accumulated Amortization | Net | |||||||||||||
Patents | $ | 2,915 | $ | -2,779 | $ | 136 | $ | 2,847 | $ | -2,658 | $ | 189 | |||||||
Schedule Of Amortization Expense For Intangible Assets | ' | ||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Patents | $ | 121 | $ | 154 | |||||||||||||||
Schedule of Accrued Expenses | ' | ||||||||||||||||||
December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Wages and benefits | $ | 862 | $ | 770 | |||||||||||||||
Warranty liability | 513 | 694 | |||||||||||||||||
Restructuring and severance costs | 511 | 192 | |||||||||||||||||
Other | 355 | 184 | |||||||||||||||||
$ | 2,241 | $ | 1,840 | ||||||||||||||||
Schedule Of Changes In Estimated Warranty Liability | ' | ||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Balance at beginning of period | $ | 694 | $ | 985 | |||||||||||||||
Accrual for warranties | 642 | 745 | |||||||||||||||||
Warranty revision | -5 | -2 | |||||||||||||||||
Settlements made during the period | -818 | -1,034 | |||||||||||||||||
Balance at end of period | $ | 513 | $ | 694 | |||||||||||||||
Schedule Of Changes In Deferred Warranty Revenue | ' | ||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||
Balance at beginning of period | $ | 582 | $ | 806 | |||||||||||||||
Revenue deferrals | 299 | 230 | |||||||||||||||||
Amortization of deferred revenue | -437 | -454 | |||||||||||||||||
Total deferred warranty revenue | 444 | 582 | |||||||||||||||||
Current portion of deferred warranty revenue | -279 | -436 | |||||||||||||||||
Long-term deferred warranty revenue | $ | 165 | $ | 146 | |||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Schedule Of Income Before Income Taxes | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Sources of income (loss) before income taxes: | |||||||||||||
United States | $ | -7,636 | $ | -4,717 | |||||||||
Foreign | 1,282 | 1,582 | |||||||||||
Total loss before income taxes | $ | -6,354 | $ | -3,135 | |||||||||
Schedule Of Provision (Benefit) For Income Taxes | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | -448 | $ | -1,010 | |||||||||
State | 28 | -3 | |||||||||||
Foreign | -45 | -219 | |||||||||||
Total current | $ | -465 | $ | -1,232 | |||||||||
Deferred: | |||||||||||||
Federal | $ | 122 | $ | 4,377 | |||||||||
State | — | 409 | |||||||||||
Foreign | 157 | 22 | |||||||||||
Total deferred | $ | 279 | $ | 4,808 | |||||||||
Total provision (benefit) for income taxes | $ | -186 | $ | 3,576 | |||||||||
Schedule Of A Reconciliation Of The Statutory Rate To The Effective Income Tax Rate | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Federal statutory rate | 34.0 | % | 34.0 | % | |||||||||
State income taxes, net of federal benefit | 0.7 | 1.0 | |||||||||||
Domestic manufacturing tax deduction | — | -4.7 | |||||||||||
U.S. Subpart F income | -0.7 | -1.8 | |||||||||||
Stock based compensation | — | -0.5 | |||||||||||
Research and experimentation credit | 1.6 | — | |||||||||||
Foreign rate difference | 7.2 | 37.9 | |||||||||||
Reserve for income taxes | 7.1 | 1.8 | |||||||||||
Valuation allowance | -45.9 | -181.1 | |||||||||||
Other, net | -1.1 | -0.6 | |||||||||||
Effective tax rate | 2.9 | % | -114 | % | |||||||||
Summary Of A Reconciliation Of The Beginning And Ending Amount Of Gross Unrecognized Tax Benefits ("UTB") | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Gross UTB balance at beginning of year | $ | 1,500 | $ | 1,599 | |||||||||
Additions based on tax positions related to the current year | 188 | 92 | |||||||||||
Additions for tax positions of prior years | 123 | 39 | |||||||||||
Reductions for tax positions of prior years | -45 | -75 | |||||||||||
Reductions due to lapse of applicable statute of limitations | -358 | -155 | |||||||||||
Gross UTB balance at end of year | $ | 1,408 | $ | 1,500 | |||||||||
Net UTB balance at end of year | $ | 150 | $ | 686 | |||||||||
Schedule Of Deferred Tax Assets And Liabilities | ' | ||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||
(In thousands) | Assets | Liabilities | Assets | Liabilities | |||||||||
Fixed asset and intangible amortization, net | $ | 520 | $ | 75 | $ | 683 | $ | 109 | |||||
Inventory allowances | 636 | — | 466 | 15 | |||||||||
Accrued liabilities | 287 | — | 328 | — | |||||||||
Warranty accrual | 178 | — | 241 | — | |||||||||
Deferred revenue | 419 | — | 332 | — | |||||||||
Accounts receivable allowance | 244 | — | 269 | — | |||||||||
Federal and state tax credits | 3,014 | — | 2,569 | — | |||||||||
Federal and state net operating loss carry forwards | 3,138 | — | 634 | — | |||||||||
Foreign net operating loss carry forwards | 838 | — | 882 | — | |||||||||
Stock based compensation | 437 | — | 411 | — | |||||||||
Unrealized gains and losses - other | |||||||||||||
comprehensive income (loss) | 8 | — | 7 | 72 | |||||||||
Other, net | 139 | — | 141 | — | |||||||||
Subtotal | 9,858 | 75 | 6,963 | 196 | |||||||||
Valuation allowance | -9,627 | — | -6,333 | — | |||||||||
Total deferred tax assets and liabilities | $ | 231 | $ | 75 | $ | 630 | $ | 196 | |||||
Operating_Leases_Tables
Operating Leases (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Leases [Abstract] | ' | |||
Schedule Of Future Minimum Lease Payments Required Under Non-cancelable Operating Lease Agreements | ' | |||
Year ending December 31, | (In thousands) | |||
2014 | $ | 782 | ||
2015 | 782 | |||
2016 | 651 | |||
2017 | 482 | |||
2018 | 495 | |||
Total | $ | 3,192 | ||
Significant_Customers_Geograph1
Significant Customers, Geographic Areas, And Business Segments (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Significant Customers, Geographic Areas, And Business Segments [Abstract] | ' | |||||||||
Summary Of Revenue By Product Line | ' | |||||||||
(In thousands) | 2013 | 2012 | ||||||||
SMT Sensors | $ | 10,792 | $ | 13,187 | ||||||
Semiconductor Sensors | 7,096 | 6,363 | ||||||||
SMT Inspection Systems | 15,420 | 22,094 | ||||||||
Total | $ | 33,308 | $ | 41,644 | ||||||
Summary Of Certain Significant Customer Information | ' | |||||||||
(In thousands) | Significant Customer | Revenues | Percentage of Revenues | |||||||
Year ended December 31, 2013 | A | $ | 5,870 | 18% | ||||||
B | $ | 2,257 | 7% | |||||||
Year ended December 31, 2012 | A | $ | 5,428 | 13% | ||||||
B | $ | 4,886 | 12% | |||||||
Schedule Of Revenue By Geographic Area | ' | |||||||||
Year Ended December 31, | ||||||||||
(In thousands) | 2013 | 2012 | ||||||||
United States | $ | 7,339 | $ | 6,165 | ||||||
Americas | 999 | 1,511 | ||||||||
Netherlands | 2,257 | 4,920 | ||||||||
Other Europe | 6,505 | 7,435 | ||||||||
China | 2,645 | 8,356 | ||||||||
Japan | 6,690 | 6,403 | ||||||||
Other Asia | 6,465 | 6,273 | ||||||||
Other | 408 | 581 | ||||||||
Total export sales | $ | 33,308 | $ | 41,644 | ||||||
Schedule Of Long-lived Assets Attributable To Each Geographic Area's Operations | ' | |||||||||
(In thousands) | 2013 | 2012 | ||||||||
Long-lived assets: | ||||||||||
United States | $ | 816 | $ | 929 | ||||||
Europe | 23 | 5 | ||||||||
Asia and other | 433 | 785 | ||||||||
Total long-lived assets | $ | 1,272 | $ | 1,719 | ||||||
ReOrganization_And_Restructure1
Re-Organization And Restructure Charge (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Re-Organization And Restructure Charge [Abstract] | ' | ||||||||||||
Summary Of Severance And Relocation Accruals | ' | ||||||||||||
(In thousands) | Fourth Quarter 2013 Workforce Reduction | Fourth Quarter 2012 Workforce Reduction | Semi R&D Consolidation | Total | |||||||||
Balance, December 31, 2011 | $ | — | $ | — | $ | — | $ | — | |||||
Cost incurred | — | 523 | 217 | 740 | |||||||||
Payments made | — | 331 | 217 | 548 | |||||||||
Balance, December 31, 2012 | — | 192 | — | 192 | |||||||||
Cost incurred | 952 | — | — | 952 | |||||||||
Payments made | 441 | 192 | — | 633 | |||||||||
Balance, December 31, 2013 | $ | 511 | $ | — | $ | — | $ | 511 | |||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Quarterly Financial Information [Abstract] | ' | ||||||||||||
Quarterly Financial Information | ' | ||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||
Revenues | $ | 6,713 | $ | 9,317 | $ | 8,726 | $ | 8,552 | |||||
Gross margin | 2,939 | 4,074 | 4,006 | 3,631 | |||||||||
Loss from operations (2) | -2,024 | -1,171 | -961 | -2,010 | |||||||||
Net loss | -2,146 | -1,200 | -774 | -2,048 | |||||||||
Net loss per share - Basic (1) | -0.31 | -0.17 | -0.11 | -0.31 | |||||||||
Net loss per share - Diluted (1) | -0.31 | -0.17 | -0.11 | -0.31 | |||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||
Revenues | $ | 11,280 | $ | 13,003 | $ | 11,558 | $ | 5,803 | |||||
Gross margin | 5,235 | 5,529 | 5,081 | 2,334 | |||||||||
Income (loss) from operations (3) | 92 | 98 | -589 | -2,712 | |||||||||
Net income (loss) (4) | 92 | 143 | -447 | -6,499 | |||||||||
Net income (loss) per share - Basic (1) | 0.01 | 0.02 | -0.06 | -0.93 | |||||||||
Net income (loss) per share - Diluted (1) | 0.01 | 0.02 | -0.06 | -0.93 | |||||||||
-1 | The summation of quarterly per share amounts may not equal the calculation for the full year, as each quarterly calculation is performed discretely. | ||||||||||||
-2 | Includes a restructuring and severance charge of $952,000 in the fourth quarter of 2013. | ||||||||||||
-3 | Includes restructuring charges of $217,000 in the third quarter and $523,000 in the fourth quarter of 2012. | ||||||||||||
Includes a $5.7 million non-cash charge in the fourth quarter of 2012 to record a valuation allowance against our deferred tax assets. | |||||||||||||
Business_Description_And_Signi2
Business Description And Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Business Description And Significant Accounting Policies [Line Items] | ' | ' |
Cash held in foreign accounts | $903,000 | $3,585,000 |
Demonstration inventory useful life | '36 months | ' |
Accumulated amortization for demonstration inventories | 10,591,000 | 10,619,000 |
Recognized foreign currency transactions (losses) | -117,000 | -11,000 |
Advertising expense | 113,000 | 96,000 |
Maximum [Member] | ' | ' |
Business Description And Significant Accounting Policies [Line Items] | ' | ' |
Estimated useful lives of the equipment | '10 years | ' |
Minimum [Member] | ' | ' |
Business Description And Significant Accounting Policies [Line Items] | ' | ' |
Estimated useful lives of the equipment | '3 years | ' |
Demonstration Inventories [Member] | ' | ' |
Business Description And Significant Accounting Policies [Line Items] | ' | ' |
Accumulated amortization for demonstration inventories | $908,000 | $897,000 |
Marketable_Securities_Narrativ
Marketable Securities (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Gain (Loss) on Investments [Line Items] | ' | ' |
Maximum maturity of debt securities, years | '5 years | ' |
Other-than-temporary impairment loss | ' | $42,000 |
Net pre-tax unrealized gains (losses) for marketable securities | 38,000 | -17,000 |
Maximum time for loss position, months | '12 months | '12 months |
Proceeds from sale of marketable securities | 5,047,000 | 3,154,000 |
Recognized (loss) gain from the sale of marketable securities | -21,000 | 8,000 |
Marketable securities classified as cash equivalents, Recorded basis | 327,000 | 2,824,000 |
Debt Securities Unrealized Gain Position [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Fair value | 15,587,000 | 19,012,000 |
Unrealized gain | 22,000 | 42,000 |
Debt Securities Unrealized Loss Position [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Fair value | 4,493,000 | 2,819,000 |
Unrealized loss | -6,000 | -59,000 |
Equity Security [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Other-than-temporary impairment loss | ' | 42,000 |
Marketable Securities - Long-Term [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Fair value | 10,742,000 | 10,435,000 |
Unrealized gain | 32,000 | 27,000 |
Unrealized loss | -6,000 | -24,000 |
Marketable Securities - Long-Term [Member] | Equity Security [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Fair value | 64,000 | 42,000 |
Unrealized gain | $22,000 | ' |
Marketable_Securities_Schedule
Marketable Securities (Schedule Of Marketable Securities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Marketable Securities - Short-Term [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | $9,390,000 | $11,458,000 |
Unrealized Gains | 12,000 | 15,000 |
Unrealized Losses | ' | -35,000 |
Fair Value | 9,402,000 | 11,438,000 |
Marketable Securities - Short-Term [Member] | US States Government And Agency Obligations [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | 6,299,000 | 7,358,000 |
Unrealized Gains | 10,000 | 10,000 |
Unrealized Losses | ' | -35,000 |
Fair Value | 6,309,000 | 7,333,000 |
Marketable Securities - Short-Term [Member] | Corporate Debt Securities And Certificates Of Deposit [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | 3,091,000 | 4,100,000 |
Unrealized Gains | 2,000 | 5,000 |
Fair Value | 3,093,000 | 4,105,000 |
Marketable Securities - Long-Term [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | 10,716,000 | 10,432,000 |
Unrealized Gains | 32,000 | 27,000 |
Unrealized Losses | -6,000 | -24,000 |
Fair Value | 10,742,000 | 10,435,000 |
Marketable Securities - Long-Term [Member] | US States Government And Agency Obligations [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | 4,783,000 | 9,033,000 |
Unrealized Gains | 7,000 | 23,000 |
Unrealized Losses | ' | -23,000 |
Fair Value | 4,790,000 | 9,033,000 |
Marketable Securities - Long-Term [Member] | Corporate Debt Securities And Certificates Of Deposit [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | 3,417,000 | 1,192,000 |
Unrealized Gains | 1,000 | 4,000 |
Unrealized Losses | -5,000 | -1,000 |
Fair Value | 3,413,000 | 1,195,000 |
Marketable Securities - Long-Term [Member] | Asset-backed Securities [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | 2,474,000 | 165,000 |
Unrealized Gains | 2,000 | ' |
Unrealized Losses | -1,000 | ' |
Fair Value | 2,475,000 | 165,000 |
Marketable Securities - Long-Term [Member] | Equity Security [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | 42,000 | 42,000 |
Unrealized Gains | 22,000 | ' |
Fair Value | $64,000 | $42,000 |
Marketable_Securities_Schedule1
Marketable Securities (Schedule Of Marketable Securities Classified As Cash Equivalents) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | $327,000 | $2,824,000 |
Unrealized Gains | ' | ' |
Unrealized Losses | ' | ' |
Recorded Basis | 327,000 | 2,824,000 |
Corporate Debt Securities And Certificates Of Deposit [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Cost | 327,000 | 2,824,000 |
Unrealized Gains | ' | ' |
Unrealized Losses | ' | ' |
Recorded Basis | $327,000 | $2,824,000 |
Derivatives_Narrative_Details
Derivatives (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Derivative [Line Items] | ' | ' | ' |
Maximum length of time to hedge, months | '12 months | ' | ' |
Foreign exchange gross notional amount | 6,500,000 | 8,300,000 | ' |
Unrealized gains (losses) on effective portion of foreign exchange forward contracts, net | -116,000 | 111,000 | ' |
Pretax net unrealized loss recorded in accumulated other comprehensive loss to earnings | 60,000 | ' | ' |
Foreign exchange forward contracts, liability | -58,000 | ' | ' |
Foreign exchange forward contracts, asset | ' | 153,000 | ' |
Maximum [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Remaining contract maturity, years | '1 year | '1 year | '1 year |
Derivatives_Schedule_Of_Cash_F
Derivatives (Schedule Of Cash Flow Hedges) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Pretax Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Effective Portion of Derivative | ($280) | $591 |
Pretax Gain (Loss) Recognized in Income on Effective Portion of Derivative as a Result of Reclassification from Accumulated Other Comprehensive Income (Loss) | -53 | -74 |
Ineffective Portion of Gain (Loss) on Derivative and Amount Excluded from Effectiveness Testing Recognized in Income (Loss) | ' | ' |
Cost Of Revenues [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Pretax Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Effective Portion of Derivative | -169 | 410 |
Pretax Gain (Loss) Recognized in Income on Effective Portion of Derivative as a Result of Reclassification from Accumulated Other Comprehensive Income (Loss) | -16 | -57 |
Ineffective Portion of Gain (Loss) on Derivative and Amount Excluded from Effectiveness Testing Recognized in Income (Loss) | ' | ' |
Research And Development [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Pretax Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Effective Portion of Derivative | -63 | 103 |
Pretax Gain (Loss) Recognized in Income on Effective Portion of Derivative as a Result of Reclassification from Accumulated Other Comprehensive Income (Loss) | -20 | -12 |
Ineffective Portion of Gain (Loss) on Derivative and Amount Excluded from Effectiveness Testing Recognized in Income (Loss) | ' | ' |
Selling, General and Administrative [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Pretax Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Effective Portion of Derivative | -48 | 78 |
Pretax Gain (Loss) Recognized in Income on Effective Portion of Derivative as a Result of Reclassification from Accumulated Other Comprehensive Income (Loss) | -17 | -5 |
Ineffective Portion of Gain (Loss) on Derivative and Amount Excluded from Effectiveness Testing Recognized in Income (Loss) | ' | ' |
Comprehensive_Income_Loss_Sche
Comprehensive Income (Loss) (Schedule Of Other Comprehensive Income (Loss)) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Comprehensive Income (Loss) [Abstract] | ' | ' |
Foreign currency translation adjustment, Before Tax Amount | ($211) | $376 |
Foreign currency translation adjustment, Net of Tax Amount | -211 | 376 |
Unrealized gains (losses) on available-for-sale securities, Before Tax Amount | 34 | -79 |
Unrealized gains (losses) on available-for-sale securities, Tax Effect | ' | -18 |
Unrealized gains (losses) on available-for-sale securities, Net of Tax Amount | 34 | -61 |
Reclassification adjustment for other-than-temporary impairment loss on available-for-sale securities included in net loss, Before Tax | ' | 42 |
Reclassification adjustment for other-than-temporary impairment loss on available-for-sale securities included in net loss, Tax Effect | ' | 15 |
Reclassification adjustment for other-than-temporary impairment loss on available-for-sale securities included in net loss, Net of Tax Amount | ' | 27 |
Reclassification adjustment for (gains) losses on available-for-sale securities included in net loss, Before Tax Amount | 21 | -8 |
Reclassification adjustment for (gains) losses on available-for-sale securities included in net loss, Tax Effect | ' | -1 |
Reclassification adjustment for (gains) losses on available-for-sale securities included in net loss, Net of Tax Amount | 21 | -7 |
Total unrealized gains (losses) on available-for-sale securities | 55 | -45 |
Total net changes related to available-for-sale securities, Tax Effect | ' | -4 |
Total net changes related to available-for-sale securities, Net of Tax Amount | 55 | -41 |
Unrealized gains (losses) on foreign exchange forward contracts, Before Tax Amount | -280 | 591 |
Unrealized gains (losses) on foreign exchange forward contracts, Tax Effect | ' | 206 |
Unrealized gains (losses) on foreign exchange forward contracts, Net of Tax Amount | -280 | 385 |
Reclassification adjustment for losses on foreign exchange forward contracts included in net loss, Before Tax Amount | 53 | 74 |
Reclassification adjustment for losses on foreign exchange forward contracts included in net loss, Tax Effect | ' | 25 |
Reclassification adjustment for losses on foreign exchange forward contracts included in net loss, Net of Tax Amount | 53 | 49 |
Total unrealized gains (losses) on foreign exchange forward contracts | -227 | 665 |
Total unrealized gains (losses) on foreign exchange forward contracts, Tax Effect | ' | 231 |
Total unrealized gains (losses) on foreign exchange forward contracts, Net of Tax Amount | -227 | 434 |
Other comprehensive income (loss), Before Tax Amount | -383 | 996 |
Other comprehensive income (loss), Tax Effect | ' | 227 |
Other comprehensive income (loss), Net of Tax Amount | ($383) | $769 |
Comprehensive_Income_Loss_The_
Comprehensive Income (Loss) (The Effect Of The Reclassifications From Comprehensive Income (Loss) To Earnings) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Interest income and other | ' | ' | ' | ' | ' | ' | ' | ' | ($188) | ($24) | ||||
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | -18,658 | -23,465 | ||||
Research and development expenses | ' | ' | ' | ' | ' | ' | ' | ' | -7,519 | -7,748 | ||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | -12,345 | -12,802 | ||||
Loss before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -6,354 | -3,135 | ||||
Income tax provision (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -186 | 3,576 | ||||
Net loss | -2,048 | -774 | -1,200 | -2,146 | -6,499 | [1] | -447 | [1] | 143 | [1] | 92 | [1] | -6,168 | -6,711 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | -53 | -49 | ||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Losses On Foreign Exchange Forward Contracts [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | -16 | -57 | ||||
Research and development expenses | ' | ' | ' | ' | ' | ' | ' | ' | -20 | -12 | ||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | -17 | -5 | ||||
Loss before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -53 | -74 | ||||
Income tax provision (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -25 | ||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) On Available-for-sale Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Interest income and other | ' | ' | ' | ' | ' | ' | ' | ' | -21 | 8 | ||||
Income tax provision (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ||||
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | ($21) | $7 | ||||
[1] | Includes a $5.7 million non-cash charge in the fourth quarter of 2012 to record a valuation allowance against our deferred tax assets |
Comprehensive_Income_Loss_Sche1
Comprehensive Income (Loss) (Schedule Of Accumulated Comprehensive Income (Loss)) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Balance at the beginning of period | ($157) | ($926) |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -457 | 700 |
Amounts reclassified from accumulated other comprehensive loss | 74 | 69 |
Total change for the period | -383 | 769 |
Balance at the end of period | -540 | -157 |
Foreign Currency Translation Adjustments [Member] | ' | ' |
Balance at the beginning of period | -245 | -621 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -211 | 376 |
Total change for the period | -211 | 376 |
Balance at the end of period | -456 | -245 |
Unrealized Gains (Losses) On Available-for-sale Securities [Member] | ' | ' |
Balance at the beginning of period | -23 | 18 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 34 | -61 |
Amounts reclassified from accumulated other comprehensive loss | 21 | 20 |
Total change for the period | 55 | -41 |
Balance at the end of period | 32 | -23 |
Foreign Exchange Forward Contracts [Member] | ' | ' |
Balance at the beginning of period | 111 | -323 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -280 | 385 |
Amounts reclassified from accumulated other comprehensive loss | 53 | 49 |
Total change for the period | -227 | 434 |
Balance at the end of period | ($116) | $111 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Measurements [Abstract] | ' | ' |
Derivative instruments-liabilities: Foreign exchange forward contracts | $58 | ' |
Derivative instruments-assets: Foreign exchange forward contracts | ' | $153 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value Measurements For Marketable Securities And Foreign Exchange Forward Contracts) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | $20,144 | $21,873 |
Derivative instruments-liabilities: Foreign exchange forward contracts | 58 | ' |
Derivative instruments-assets: Foreign exchange forward contracts | ' | 153 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 64 | 42 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 20,080 | 21,831 |
Derivative instruments-liabilities: Foreign exchange forward contracts | 58 | ' |
Derivative instruments-assets: Foreign exchange forward contracts | ' | 153 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | ' | ' |
Derivative instruments-assets: Foreign exchange forward contracts | ' | ' |
US States Government And Agency Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 11,099 | 16,366 |
US States Government And Agency Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 11,099 | 16,366 |
US States Government And Agency Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | ' | ' |
Corporate Debt Securities And Certificates Of Deposit [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 6,506 | 5,300 |
Corporate Debt Securities And Certificates Of Deposit [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 6,506 | 5,300 |
Corporate Debt Securities And Certificates Of Deposit [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | ' | ' |
Asset-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 2,475 | 165 |
Asset-backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 2,475 | 165 |
Asset-backed Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | ' | ' |
Equity Security [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 64 | 42 |
Equity Security [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | 64 | 42 |
Equity Security [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities | ' | ' |
Accounting_For_StockBased_Comp2
Accounting For Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Equity based compensation expense | $447,000 | $449,000 |
Unrecognized compensation cost related to non-vested equity based compensation | 674,000 | ' |
Unrecognized equity based compensation weighted average period, years | '2 years 2 months 19 days | ' |
Fair value of shares vested | 267,000 | 178,000 |
Shares, Granted | 15,750 | 36,528 |
Weighted Average Grant Date Fair Value, Granted | $5.39 | $7.37 |
Stock Options And Restricted Stock Units (RSUs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Equity based compensation expense | 373,000 | 354,000 |
Stock Options [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares of common stock reserved for stock based benefits | 1,022,799 | ' |
Vesting period, years | '4 years | ' |
Number of shares available for future issuance | 389,373 | ' |
Weighted average remaining contractual term, years | '4 years | ' |
Aggregate intrinsic value for all options outstanding | 255,000 | ' |
Weighted average remaining contractual term for exercisable options, years | '2 years 8 months 16 days | ' |
Aggregate intrinsic value of exercisable options | 168,000 | ' |
Aggregate intrinsic value of exercised stock options | 4,300 | 10,000 |
Proceeds from exercise of stock options | 25,000 | ' |
Stock Options [Member] | Contractual Term Seven Years [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expiration of stock options from date of grant, years | '7 years | ' |
Stock Options [Member] | Contractual Term Ten Years [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expiration of stock options from date of grant, years | '10 years | ' |
Employee Stock Purchase Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Equity based compensation expense | 44,000 | 54,000 |
Number of shares available for future issuance | 153,926 | ' |
Maximum contribution per plan year | 6,500 | ' |
Employees can purchase stock at the percentage rate of the lower of the market price on the first or last day of the offering period | 85.00% | ' |
Share issuances for compensation purposes, shares | 12,656 | 19,759 |
Employee Stock Purchase Plan [Member] | Minimum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Payroll deduction for employee stock purchase plan percentage | 1.00% | ' |
Employee Stock Purchase Plan [Member] | Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Payroll deduction for employee stock purchase plan percentage | 10.00% | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Fair value of shares vested | 78,000 | 69,000 |
Vesting period, years | '4 years | ' |
Aggregate intrinsic value for all options outstanding | 300,000 | ' |
Restricted stock units to common stock ratio, shares entitled | 1 | ' |
Stock Grant Plan For Non-Employee Directors [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Equity based compensation expense | $30,000 | $41,000 |
Weighted average grant date fair value | $6.08 | $8.17 |
Shares of common stock reserved for stock based benefits | 30,000 | ' |
Number of shares available for future issuance | 6,000 | ' |
Number of shares granted for non-employee directors upon re-election | 1,000 | ' |
Plan expiration date | 'May 19, 2018 | ' |
Share issuances for compensation purposes, shares | 5,000 | 5,000 |
Accounting_For_StockBased_Comp3
Accounting For Stock-Based Compensation (Summary Of Pre-tax Equity Based Compensation Expense) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounting For Stock-Based Compensation [Abstract] | ' | ' |
Pre-tax equity compensation expense | $447 | $449 |
Accounting_For_StockBased_Comp4
Accounting For Stock-Based Compensation (Schedule Of Stock Option Valuation Assumptions) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Dividend yield | 0.00% | 0.00% |
Weighted average fair value on grant date | $2.34 | $3.01 |
Maximum [Member] | ' | ' |
Risk-free interest rates | ' | 0.86% |
Expected life in years | '5 years 5 months 23 days | '5 years 2 months 12 days |
Expected volatility | ' | 46.47% |
Minimum [Member] | ' | ' |
Risk-free interest rates | 1.51% | 0.70% |
Expected life in years | '5 years 3 months 22 days | '4 years 11 months 12 days |
Expected volatility | 46.58% | 45.81% |
Accounting_For_StockBased_Comp5
Accounting For Stock-Based Compensation (Schedule Of Stock Option Activity) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting For Stock-Based Compensation [Abstract] | ' |
Options Outstanding, Outstanding, Beginning of period | 544,153 |
Options Outstanding, Granted | 86,750 |
Options Outstanding, Exercised | -5,000 |
Options Outstanding, Expired | -38,170 |
Options Outstanding, Forfeited | -1,250 |
Options Outstanding, Outstanding, End of period | 586,483 |
Options Outstanding, Exercisable, End of period | 338,197 |
Weighted-Average Exercise Price Per Share, Outstanding, Beginning of period | $8.68 |
Weighted-Average Exercise Price Per Share, Granted | $5.39 |
Weighted-Average Exercise Price Per Share, Exercised | $4.99 |
Weighted-Average Exercise Price Per Share, Expired | $11.09 |
Weighted-Average Exercise Price Per Share, Forfeited | $8.71 |
Weighted-Average Exercise Price Per Share, Outstanding, End of period | $8.07 |
Weighted-Average Exercise Price Per Share, Exercisable, End of period | $8.92 |
Accounting_For_StockBased_Comp6
Accounting For Stock-Based Compensation (Schedule Of Non-Vested Restricted Stock Activity) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Accounting For Stock-Based Compensation [Abstract] | ' | ' |
Shares, Non-vested at December 31, 2011 | 44,555 | ' |
Shares, Granted | 15,750 | 36,528 |
Shares, Vested | -12,946 | ' |
Shares, Forfeited | -416 | ' |
Shares, Non-vested at December 31, 2012 | 46,943 | 44,555 |
Weighted Average Grant Date Fair Value, Non-vested at December 31, 2011 | $7.61 | ' |
Weighted Average Grant Date Fair Value, Granted | $5.39 | $7.37 |
Weighted Average Grant Date Fair Value, Vested | $7.76 | ' |
Weighted Average Grant Date Fair Value, Forfeited | $8.71 | ' |
Weighted Average Grant Date Fair Value, Non-vested at December 31, 2012 | $6.82 | $7.61 |
Net_Income_Loss_Per_Share_Narr
Net Income (Loss) Per Share (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Net Income (Loss) Per Share [Abstract] | ' | ' |
Earnings per share, Potentially dilutive shares | 614,000 | 592,000 |
Net_Income_Loss_Per_Share_Sche
Net Income (Loss) Per Share (Schedule Of Net Income Per Basic And Diluted Shares) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||
Net Income (Loss) Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net income (loss) | ($2,048) | ($774) | ($1,200) | ($2,146) | ($6,499) | [1] | ($447) | [1] | $143 | [1] | $92 | [1] | ($6,168) | ($6,711) | ||||
Weighted Average Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 6,798 | 6,946 | ||||||||
Per Share Amount, Basic | ($0.31) | [2] | ($0.11) | [2] | ($0.17) | [2] | ($0.31) | [2] | ($0.93) | [2] | ($0.06) | [2] | $0.02 | [2] | $0.01 | [2] | ($0.91) | ($0.97) |
Per Share Amount, Dilutive effect of common equivalent shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Weighted Average Shares Outstanding, Dilutive | ' | ' | ' | ' | ' | ' | ' | ' | 6,798 | 6,946 | ||||||||
Per Share Amount, Dilutive | ($0.31) | [2] | ($0.11) | [2] | ($0.17) | [2] | ($0.31) | [2] | ($0.93) | [2] | ($0.06) | [2] | $0.02 | [2] | $0.01 | [2] | ($0.91) | ($0.97) |
[1] | Includes a $5.7 million non-cash charge in the fourth quarter of 2012 to record a valuation allowance against our deferred tax assets | |||||||||||||||||
[2] | The summation of quarterly per share amounts may not equal the calculation for the full year, as each quarterly calculation is performed discretely. |
Other_Financial_Statement_Data2
Other Financial Statement Data (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Other Financial Statement Data [Abstract] | ' | ' |
Depreciation expense | $949,000 | $958,000 |
Weighted average life of intangible assets | '2 years 1 month 6 days | ' |
Amortization expense, 2014 | 81,000 | ' |
Amortization expense, 2015 | 42,000 | ' |
Amortization expense, 2016 | $13,000 | ' |
Other_Financial_Statement_Data3
Other Financial Statement Data (Schedule Of Inventory Components) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Financial Statement Data [Abstract] | ' | ' |
Raw materials and purchased parts | $6,690 | $8,152 |
Work in process | 1,135 | 1,322 |
Finished goods | 3,506 | 3,059 |
Total inventories | $11,331 | $12,533 |
Other_Financial_Statement_Data4
Other Financial Statement Data (Schedule Of Equipment And Leasehold Improvements) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Equipment and leasehold improvements, gross | $11,863,000 | $12,338,000 |
Accumulated depreciation and amortization | -10,591,000 | -10,619,000 |
Equipment and leasehold improvements, net | 1,272,000 | 1,719,000 |
Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Equipment and leasehold improvements, gross | 10,265,000 | 10,800,000 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Equipment and leasehold improvements, gross | $1,598,000 | $1,538,000 |
Other_Financial_Statement_Data5
Other Financial Statement Data (Schedule Of Intangible Assets) (Details) (Patents [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Patents [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $2,915 | $2,847 |
Accumulated Amortization | -2,779 | -2,658 |
Net | $136 | $189 |
Other_Financial_Statement_Data6
Other Financial Statement Data (Schedule Of Amortization Expense For Intangible Assets) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Other Financial Statement Data [Abstract] | ' | ' |
Patents | $121 | $154 |
Other_Financial_Statement_Data7
Other Financial Statement Data (Schedule of Accrued Expenses) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Financial Statement Data [Abstract] | ' | ' |
Wage and benefits | $862 | $770 |
Warranty liability | 513 | 694 |
Restructuring and severance costs | 511 | 192 |
Other | 355 | 184 |
Accrued expenses | $2,241 | $1,840 |
Other_Financial_Statement_Data8
Other Financial Statement Data (Schedule Of Changes In Estimated Warranty Liability) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Other Financial Statement Data [Abstract] | ' | ' |
Balance at beginning of period | $694 | $985 |
Accrual for warranties | 642 | 745 |
Warranty revision | -5 | -2 |
Settlements made during the period | -818 | -1,034 |
Balance at end of period | $513 | $694 |
Other_Financial_Statement_Data9
Other Financial Statement Data (Schedule Of Changes In Deferred Warranty Revenue) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Other Financial Statement Data [Abstract] | ' | ' |
Balance at beginning of period | $582 | $806 |
Revenue deferrals | 299 | 230 |
Amortization of deferred revenue | -437 | -454 |
Total deferred warranty revenue | 444 | 582 |
Current portion of deferred warranty revenue | -279 | -436 |
Long-term deferred warranty revenue | $165 | $146 |
Goodwill_Details
Goodwill (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Abstract] | ' | ' |
Goodwill impairment test inputs, discount rate | 15.00% | 15.00% |
Goodwill impairment test inputs, terminal growth rate | 600.00% | 600.00% |
Goodwill | $569 | $569 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax [Line Items] | ' | ' |
Foreign rate difference | 7.20% | 37.90% |
Accrued interest and penalties | $12,000 | $169,000 |
Change in liability for uncertain tax positions | 450,000 | 56,000 |
Estimated gross penalties and interest | 158,000 | 23,000 |
Need For Valuation Allowance Based On History Of Cumulative Losses | '3 years | ' |
Reduction to valuation allowance | ' | 178,000 |
Research & Development tax credits | 3,213,000 | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | 8,242,000 | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 838,000 | 882,000 |
Cash refunds received for income taxes, net of payments | 1,269,000 | ' |
Cash payments for income taxes, net of refunds received | ' | 170,000 |
CyberOptics Ltd. [Member] | ' | ' |
Income Tax [Line Items] | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 156,000 | ' |
Deferred tax asset, net operating loss carry forwards, reduction | $8,000 | $14,000 |
Income_Taxes_Schedule_Of_Incom
Income Taxes (Schedule Of Income Before Income Taxes) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Abstract] | ' | ' |
Sources of income (loss) before income taxes: United States | ($7,636) | ($4,717) |
Sources of income (loss) before income taxes: Foreign | 1,282 | 1,582 |
Loss before income taxes | ($6,354) | ($3,135) |
Income_Taxes_Schedule_Of_Provi
Income Taxes (Schedule Of Provision (Benefit) For Income Taxes) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Abstract] | ' | ' |
Current: Federal | ($448) | ($1,010) |
Current: State | 28 | -3 |
Current: Foreign | -45 | -219 |
Total current | -465 | -1,232 |
Deferred: Federal | 122 | 4,377 |
Deferred: State | ' | 409 |
Deferred: Foreign | 157 | 22 |
Total deferred | 279 | 4,808 |
Total provision (benefit) for income taxes | ($186) | $3,576 |
Income_Taxes_Schedule_Of_A_Rec
Income Taxes (Schedule Of A Reconciliation Of The Statutory Rate To The Effective Income Tax Rate) (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Taxes [Abstract] | ' | ' |
Federal statutory rate | 34.00% | 34.00% |
State income taxes, net of federal benefit | 0.70% | 1.00% |
Domestic manufacturing tax deduction | ' | -4.70% |
U.S. Subpart F income | -0.70% | -1.80% |
Stock based compensation | ' | -0.50% |
Research and experimentation credit | 1.60% | ' |
Foreign rate difference | 7.20% | 37.90% |
Reserve for income taxes | 7.10% | 1.80% |
Valuation allowance | -45.90% | -181.10% |
Other, net | -1.10% | -0.60% |
Effective tax rate | 2.90% | -114.00% |
Income_Taxes_Summary_Of_A_Reco
Income Taxes (Summary Of A Reconciliation Of The Beginning And Ending Amount Of Gross Unrecognized Tax Benefits ("UTB")) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Abstract] | ' | ' |
Gross UTB balance at beginning of year | $1,500 | $1,599 |
Additions based on tax positions related to the current year | 188 | 92 |
Additions for tax positions of prior years | 123 | 39 |
Reductions for tax positions of prior years | -45 | -75 |
Reductions due to lapse of applicable statute of limitation | -358 | -155 |
Gross UTB balance at end of year | 1,408 | 1,500 |
Net UTB balance at end of year | $150 | $686 |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Taxes [Abstract] | ' | ' |
Deferred Tax Assets: Fixed asset and intangible amortization, net | $520 | $683 |
Deferred Tax Assets: Inventory allowances | 636 | 466 |
Deferred Tax Assets: Accrued liabilities | 287 | 328 |
Deferred Tax Assets: Warranty accrual | 178 | 241 |
Deferred Tax Assets: Deferred Revenue | 419 | 332 |
Deferred Tax Assets: Accounts receivable allowance | 244 | 269 |
Deferred Tax Assets: Federal and state tax credits | 3,014 | 2,569 |
Deferred Tax Assets: Federal and state net operating loss carry forwards | 3,138 | 634 |
Deferred Tax Assets: Foreign net operating loss carry forwards | 838 | 882 |
Deferred Tax Assets: Stock based compensation | 437 | 411 |
Deferred Tax Assets: Unrealized gains and losses - other comprehensive income (loss) | 8 | 7 |
Deferred Tax Assets: Other, net | 139 | 141 |
Deferred Tax Assets: Subtotal | 9,858 | 6,963 |
Deferred Tax Assets: Valuation allowance | -9,627 | -6,333 |
Deferred Tax Assets: Total deferred tax assets | 231 | 630 |
Deferred Tax Liabilities: Fixed asset and intangible amortization, net | 75 | 109 |
Deferred Tax Liabilities: Inventory allowance | ' | 15 |
Deferred Tax Liabilities: Unrealized gains and losses - other comprehensive income (loss) | ' | 72 |
Deferred Tax Liabilities: Subtotal | 75 | 196 |
Deferred Tax Liabilities: Total deferred tax liabilities | $75 | $196 |
Operating_Leases_Narrative_Det
Operating Leases (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
item | ||
sqft | ||
Operating Leased Assets [Line Items] | ' | ' |
Mixed office and warehouse facility, square footage | 50,724 | ' |
Lease term | '90 months | ' |
Lease expiration date | 31-Dec-18 | ' |
Renewal options, number | 2 | ' |
Renewal options, term | '3 years | ' |
Rent expense | $1,141,000 | $1,160,000 |
Singapore [Member] | ' | ' |
Operating Leased Assets [Line Items] | ' | ' |
Mixed office and warehouse facility, square footage | 19,805 | ' |
Lease expiration date | 31-Jul-16 | ' |
Other Subsidiaries [Member] | ' | ' |
Operating Leased Assets [Line Items] | ' | ' |
Lease expiration date | 30-Jun-18 | ' |
Operating_Leases_Schedule_Of_F
Operating Leases (Schedule Of Future Minimum Lease Payments Required Under Non-cancelable Operating Lease Agreements) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leases [Abstract] | ' |
2014 | $782 |
2015 | 782 |
2016 | 651 |
2017 | 482 |
2018 | 495 |
Total | $3,192 |
401K_And_Other_Defined_Contrib1
401(K) And Other Defined Contribution Plans (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Matching contributions to employees | $218,000 | $246,000 |
CyberOptics Ltd. [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Matching contributions to employees | $39,000 | $35,000 |
Significant_Customers_Geograph2
Significant Customers, Geographic Areas, And Business Segments (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Revenue, Major Customer [Line Items] | ' | ' |
Accounts receivable | $6,562,000 | $6,129,000 |
Revenue, export sales percentage | 78.00% | 85.00% |
Significant Customer A [Member] | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' |
Accounts receivable | 578,000 | 312,000 |
Percentage of Revenues | 18.00% | 13.00% |
Significant Customer B [Member] | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' |
Accounts receivable | $604,000 | $414,000 |
Percentage of Revenues | 7.00% | 12.00% |
LaserAlign Customer [Member] | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' |
Percentage of Revenues | 20.00% | 18.00% |
Significant_Customers_Geograph3
Significant Customers, Geographic Areas, And Business Segments (Summary Of Revenue By Product Line) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $8,552 | $8,726 | $9,317 | $6,713 | $5,803 | $11,558 | $13,003 | $11,280 | $33,308 | $41,644 |
OEM Alignment Sensors [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 10,792 | 13,187 |
Semiconductor Sensors [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 7,096 | 6,363 |
SMT Inspection Sensors [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $15,420 | $22,094 |
Significant_Customers_Geograph4
Significant Customers, Geographic Areas, And Business Segments (Summary Of Certain Significant Customer Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Export sales | $8,552 | $8,726 | $9,317 | $6,713 | $5,803 | $11,558 | $13,003 | $11,280 | $33,308 | $41,644 |
Significant Customer A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Export sales | ' | ' | ' | ' | ' | ' | ' | ' | 5,870 | 5,428 |
Percentage of Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 18.00% | 13.00% |
Significant Customer B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Export sales | ' | ' | ' | ' | ' | ' | ' | ' | $2,257 | $4,886 |
Percentage of Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | 12.00% |
Significant_Customers_Geograph5
Significant Customers, Geographic Areas, And Business Segments (Schedule Of Revenue By Geographic Area) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $8,552 | $8,726 | $9,317 | $6,713 | $5,803 | $11,558 | $13,003 | $11,280 | $33,308 | $41,644 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 7,339 | 6,165 |
Americas [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 999 | 1,511 |
Netherlands [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 2,257 | 4,920 |
Other Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 6,505 | 7,435 |
China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 2,645 | 8,356 |
Japan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 6,690 | 6,403 |
Other Asia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 6,465 | 6,273 |
Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | $408 | $581 |
Significant_Customers_Geograph6
Significant Customers, Geographic Areas, And Business Segments (Schedule Of Long-lived Assets Attributable To Each Geographic Area's Operations) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Total long-lived assets | $1,272 | $1,719 |
United States [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total long-lived assets | 816 | 929 |
Europe [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total long-lived assets | 23 | 5 |
Asia And Other [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total long-lived assets | $433 | $785 |
ReOrganization_And_Restructure2
Re-Organization And Restructure Charge (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and severance costs | $952 | $740 |
Remaining accrued severance | 511 | 192 |
Restructuring and related activities, completion date | 1-Jul-14 | ' |
Semiconductor R&D Consolidation [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and severance costs | ' | 217 |
Remaining accrued severance | ' | ' |
Fourth Quarter 2012 Workforce Reduction [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Reduction of workforce, number of employees | ' | 20 |
Restructuring and severance costs | ' | 523 |
Reduction of workforce, percent | ' | 10.00% |
Remaining accrued severance | ' | 192 |
Fourth Quarter 2013 Workforce Reduction [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Reduction of workforce, number of employees | 30 | ' |
Restructuring and severance costs | 952 | ' |
Remaining accrued severance | $511 | ' |
ReOrganization_And_Restructure3
Re-Organization And Restructure Charge (Summary Of Severance And Relocation Accruals) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Balance at beginning of period | $192 | ' |
Cost incurred | 952 | 740 |
Payments made | 633 | 548 |
Balance, at end of period | 511 | 192 |
Semiconductor R&D Consolidation [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Cost incurred | ' | 217 |
Payments made | ' | 217 |
Balance, at end of period | ' | ' |
Fourth Quarter 2012 Workforce Reduction [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Balance at beginning of period | 192 | ' |
Cost incurred | ' | 523 |
Payments made | 192 | 331 |
Balance, at end of period | ' | 192 |
Fourth Quarter 2013 Workforce Reduction [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Balance at beginning of period | ' | ' |
Cost incurred | 952 | ' |
Payments made | 441 | ' |
Balance, at end of period | $511 | ' |
Share_Repurchase_Details
Share Repurchase (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure of Repurchase Agreements [Abstract] | ' | ' |
Stock repurchase program, Authorized amount | ' | $3,000,000 |
Repurchase of common stock | $2,979,000 | $21,000 |
Repurchase of common stock, shares | 508,535 | ' |
Subsequent_Event_Acquisition_D
Subsequent Event - Acquisition (Details) (Subsequent Event [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Business acquisition, effective date of acquisition | 14-Mar-14 |
Business acquisition, name of acquired entity | 'Laser Design, Inc. (LDI) |
Business acquisition, approximate revenue of acquired entity | $6 |
All-cash payment to acquire entity | $2.70 |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |||||||||
Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenues | $8,552,000 | $8,726,000 | $9,317,000 | $6,713,000 | $5,803,000 | $11,558,000 | $13,003,000 | $11,280,000 | $33,308,000 | $41,644,000 | ||||||||
Gross margin | 3,631,000 | 4,006,000 | 4,074,000 | 2,939,000 | 2,334,000 | 5,081,000 | 5,529,000 | 5,235,000 | 14,650,000 | 18,179,000 | ||||||||
Income (loss) from operations | -2,010,000 | [1] | -961,000 | [1] | -1,171,000 | [1] | -2,024,000 | [1] | -2,712,000 | [2] | -589,000 | [2] | 98,000 | [2] | 92,000 | [2] | -6,166,000 | -3,111,000 |
Net income (loss) | -2,048,000 | -774,000 | -1,200,000 | -2,146,000 | -6,499,000 | [3] | -447,000 | [3] | 143,000 | [3] | 92,000 | [3] | -6,168,000 | -6,711,000 | ||||
Net income (loss) per share - Basic | ($0.31) | [4] | ($0.11) | [4] | ($0.17) | [4] | ($0.31) | [4] | ($0.93) | [4] | ($0.06) | [4] | $0.02 | [4] | $0.01 | [4] | ($0.91) | ($0.97) |
Net income (loss) per share - Diluted | ($0.31) | [4] | ($0.11) | [4] | ($0.17) | [4] | ($0.31) | [4] | ($0.93) | [4] | ($0.06) | [4] | $0.02 | [4] | $0.01 | [4] | ($0.91) | ($0.97) |
Restructuring and severance costs | ' | ' | ' | ' | ' | ' | ' | ' | 952,000 | 740,000 | ||||||||
Non-cash charge to record a valuation allowance against our deferred tax assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,700,000 | ||||||||
Fourth Quarter 2012 Workforce Reduction [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Restructuring and severance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 523,000 | ||||||||
Semiconductor R&D Consolidation [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Restructuring and severance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | $217,000 | ||||||||
[1] | Includes a restructuring and severance charge of $952,000 in the fourth quarter of 2013. | |||||||||||||||||
[2] | Includes restructuring charges of $217,000 in the third quarter and $523,000 in the fourth quarter of 2012. | |||||||||||||||||
[3] | Includes a $5.7 million non-cash charge in the fourth quarter of 2012 to record a valuation allowance against our deferred tax assets | |||||||||||||||||
[4] | The summation of quarterly per share amounts may not equal the calculation for the full year, as each quarterly calculation is performed discretely. |