Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'BABY | ' |
Entity Registrant Name | 'NATUS MEDICAL INC | ' |
Entity Central Index Key | '0000878526 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 30,963,777 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $44,192 | $23,057 |
Accounts receivable, net of allowance for doubtful accounts of $3,863 in 2013 and $2,617 in 2012 | 84,803 | 89,960 |
Inventories | 39,376 | 40,756 |
Prepaid expenses and other current assets | 5,835 | 6,379 |
Deferred income tax | 8,400 | 8,719 |
Total current assets | 182,607 | 168,871 |
Property and equipment, net | 24,425 | 26,512 |
Intangible assets | 102,377 | 96,594 |
Goodwill | 97,323 | 92,048 |
Other assets | 9,037 | 7,828 |
Total assets | 415,768 | 391,853 |
Current liabilities: | ' | ' |
Accounts payable | 26,497 | 32,537 |
Short-term borrowings | ' | 11,300 |
Current portion of long-term debt | 10,563 | 8,526 |
Accrued liabilities | 25,922 | 32,938 |
Deferred revenue | 12,449 | 13,305 |
Total current liabilities | 75,431 | 98,606 |
Long-term liabilities: | ' | ' |
Long-term debt, net of current portion | 37,500 | 13,034 |
Other liabilities | 3,759 | 3,038 |
Deferred income tax | 10,366 | 8,423 |
Total liabilities | 127,056 | 123,101 |
Stockholders' equity: | ' | ' |
Common Stock, $0.001 par value, 120,000,000 shares authorized; shares issued and outstanding 30,880,758 in 2013 and 30,106,933 in 2012 | 284,288 | 275,395 |
Retained earnings | 25,387 | 11,638 |
Accumulated other comprehensive loss | -20,963 | -18,281 |
Total stockholders' equity | 288,712 | 268,752 |
Total liabilities and stockholders' equity | $415,768 | $391,853 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for doubtful accounts | $3,863 | $2,617 |
Common Stock, par value | $0.00 | $0.00 |
Common Stock, shares authorized | 120,000,000 | 120,000,000 |
Common Stock, shares issued | 30,880,758 | 30,106,933 |
Common Stock, shares outstanding | 30,880,758 | 30,106,933 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Revenue | $85,392 | $81,019 | $253,475 | $201,459 |
Cost of revenue | 34,058 | 36,456 | 104,518 | 89,237 |
Gross profit | 51,334 | 44,563 | 148,957 | 112,222 |
Operating expenses: | ' | ' | ' | ' |
Marketing and selling | 20,337 | 21,805 | 64,305 | 54,693 |
Research and development | 7,536 | 8,513 | 24,337 | 21,844 |
General and administrative | 14,323 | 18,811 | 40,160 | 39,206 |
Total operating expenses | 42,196 | 49,129 | 128,802 | 115,743 |
Income (loss) from operations | 9,138 | -4,566 | 20,155 | -3,521 |
Other income (expense), net | -580 | -218 | -1,437 | 259 |
Income (loss) before provision for income tax | 8,558 | -4,784 | 18,718 | -3,262 |
Provision for income tax (benefit) expense | 2,271 | -3,037 | 4,969 | -2,128 |
Net income (loss) | 6,287 | -1,747 | 13,749 | -1,134 |
Foreign currency translation adjustment | 646 | 147 | -2,683 | -1,813 |
Comprehensive income (loss) | $6,933 | ($1,600) | $11,066 | ($2,947) |
Earnings (loss) per share: | ' | ' | ' | ' |
Basic | $0.21 | ($0.06) | $0.46 | ($0.04) |
Diluted | $0.20 | ($0.06) | $0.45 | ($0.04) |
Weighted average shares used in the calculation of earnings (loss) per share: | ' | ' | ' | ' |
Basic | 30,096 | 29,062 | 29,825 | 28,947 |
Diluted | 30,790 | 29,062 | 30,576 | 28,947 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities: | ' | ' |
Net income (loss) | $13,749 | ($1,134) |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 9,554 | 9,356 |
Provision for losses on accounts receivable | 446 | 195 |
Warranty reserve | 818 | 540 |
Loss on disposal of property and equipment | 141 | 80 |
Share-based compensation | 4,608 | 5,007 |
Excess tax benefit on the exercise of stock options | -637 | -125 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 7,105 | -12,827 |
Inventories | -1,428 | 5,154 |
Prepaid expenses and other assets | -281 | -4,219 |
Accounts payable | -5,880 | 9,201 |
Deferred income tax | -1,176 | -7 |
Accrued liabilities and deferred revenue | -6,365 | 5,803 |
Liabilities acquired in acquisitions | 61 | 0 |
Net cash provided by operating activities | 20,715 | 17,038 |
Investing activities: | ' | ' |
Acquisition of businesses, net of cash acquired | -18,600 | -57,632 |
Purchases of property and equipment | -597 | -3,799 |
Purchase of intangible assets | -1,815 | ' |
Net cash used in investing activities | -21,012 | -61,431 |
Financing activities: | ' | ' |
Proceeds from stock option exercises and ESPP purchases | 5,097 | 970 |
Excess tax benefit on the exercise of stock options | 637 | 125 |
Proceeds from short-term borrowings | ' | 7,300 |
Proceeds from long-term borrowings | 57,383 | 25,000 |
Payments on borrowings | -42,182 | -2,230 |
Net cash provided by financing activities | 20,935 | 31,165 |
Exchange rate changes effect on cash and cash equivalents | 497 | -88 |
Net increase (decrease) in cash and cash equivalents | 21,135 | -13,316 |
Cash and cash equivalents, beginning of period | 23,057 | 32,816 |
Cash and cash equivalents, end of period | 44,192 | 19,500 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest | 1,084 | 215 |
Cash paid for income taxes | 9,861 | 5,007 |
Non-cash investing activities: | ' | ' |
Property and equipment included in accounts payable | 79 | 1,919 |
Inventory transferred to property and equipment | $885 | $278 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
1 - Basis of Presentation | |
The accompanying interim condensed consolidated financial statements of Natus Medical Incorporated (“Natus,” “we,” “us,” “our,” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Except as noted below, the accounting policies followed in the preparation of the interim condensed consolidated financial statements are consistent in all material respects with those presented in Note 1 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |
Interim financial reports are prepared in accordance with the rules and regulations of the Securities and Exchange Commission; accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. The interim financial information is unaudited, but reflects all normal adjustments that are, in the opinion of management, necessary for the fair presentation of our financial position, results of operations, and cash flows for the interim periods presented. The condensed consolidated balance sheet as of December 31, 2012 was derived from audited financial statements, but does not include all disclosures required by GAAP. The accompanying financial statements should be read in conjunction with the financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |
Operating results for the nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. | |
Recent Accounting Pronouncements | |
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income - In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. (“ASU”) 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This topic requires us to provide information about the amounts reclassified out of accumulated other comprehensive income by component and the line items of net income to which significant amounts are reclassified. This topic is for annual and interim periods beginning after December 15, 2012. The update did not have a material impact on the Company’s consolidated financial position, results of operations or cash flows. |
Business_Combinations
Business Combinations | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Business Combinations | ' | ||||||||
2 - Business Combinations | |||||||||
Grass Technologies | |||||||||
On February 2, 2013, we completed an asset purchase of the Grass Technologies Product Group (“Grass”) from Astro-Med Inc. for a cash consideration of $18.6 million pursuant to purchase agreement. Grass manufactures and sells clinically differentiated neurodiagnostic and monitoring products, including a portfolio of electroencephalography (EEG) and polysomnography (PSG) systems for both clinical and research use and related accessories and proprietary electrodes. The acquisition strengthened the Company’s existing neurology portfolio and provided new product categories. A total of $624,000 of direct costs associated with the acquisition was expensed as incurred and reported as a component of general and administrative expenses. | |||||||||
The Company has accounted for the acquisition as a business combination. Under the acquisition method of accounting, the assets acquired and liabilities assumed from Grass are recorded in the consolidated financial statements at their respective fair values as of the acquisition date. The excess of the purchase price over the fair value of the acquired net assets has been recorded as goodwill. Grass’s results of operations are included in our consolidated financial statements since February 2, 2013, the date of the acquisition. | |||||||||
Valuing certain components of the acquisition, primarily accounts receivable required us to make significant estimates that may be adjusted in the future; consequently, the purchase price allocation is considered preliminary. Final determination of these estimates could result in an adjustment to the preliminary purchase price allocation, with an offsetting adjustment to goodwill. As of September 30, 2013, there have been no adjustments to the preliminary purchase price. | |||||||||
Approximately $5.2 million has been allocated to goodwill. Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the provisional values assigned to the assets acquired and liabilities assumed and represent primarily the expected synergies of combining the operations of the Company and the Grass business. None of the goodwill is expected to be deductible for tax purposes. In accordance with ASC 350-20, goodwill will not be amortized but instead will be tested for impairment at least annually (more frequently if certain indicators are present). As of September 30, 2013, we have not yet tested the Grass goodwill for impairment. In the event that management determines that the value of goodwill has become impaired, we will incur an accounting charge for the amount of impairment during the fiscal quarter in which the determination is made. | |||||||||
Grass’s revenue of $3.8 million and $9.7 million and income from operations of $1.1 and $2.1 million are included in our condensed consolidated statements of operations and comprehensive income (loss) for the period from July 1, 2013 to September 30, 2013 and February 2, 2013 (acquisition date) to September 30, 2013, respectively. | |||||||||
Nicolet | |||||||||
We acquired the Nicolet neurodiagnostic business (“Nicolet”) from CareFusion on July 2, 2012 pursuant to a Share and Acquisition Purchase Agreement. The Nicolet business develops clinically differentiated neurodiagnostic and monitoring products, including a portfolio of electroencephalography (EEG) and electromyography (EMG) systems and related accessories, as well as vascular and obstetric Doppler sensors and connectivity products. The acquisition strengthened the Company’s existing neurology portfolio and provided new product categories. The acquisition also better positions the Company in international markets, as over 50 percent of the Nicolet business is in markets outside of the United States. | |||||||||
We acquired all of the outstanding common shares of CareFusion subsidiaries comprising the Nicolet business in the United States, Ireland, and the United Kingdom, and certain assets and liabilities of Nicolet sales divisions principally in China, Brazil, Germany, Italy, the Netherlands, and Spain for $55.5 million. A total of $3.3 million of direct costs associated with the acquisition were expensed as incurred and reported as a component of general and administrative expenses. | |||||||||
The Nicolet acquisition has been accounted for as a business combination. Under the acquisition method of accounting, the assets acquired and liabilities assumed from Nicolet are recorded in the consolidated financial statements at their respective fair values as of the acquisition date. The excess of the purchase price over the fair value of the acquired net assets has been recorded as goodwill. Nicolet’s results of operations are included in the consolidated financial statements since July 2, 2012, the date of the acquisition. | |||||||||
During the nine months ending September 30, 2013, we recorded adjustments to the preliminary purchase price allocation for deferred taxes that resulted in a net increase to goodwill of $256,000. | |||||||||
Pro forma financial information | |||||||||
The following unaudited pro forma information combining results of operations of the Company for the nine months ended September 30, 2013 and 2012 are presented as if the acquisitions of Grass and Nicolet had occurred on January 1, 2012: | |||||||||
Unaudited Pro forma Financial Information | |||||||||
(in thousands) | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Revenue | $ | 254,480 | $ | 264,781 | |||||
Income (loss) from operations | $ | 21,603 | $ | (1,298 | ) | ||||
The unaudited pro forma financial information is provided for comparative purposes only and is not necessarily indicative of what actual results would have been had the acquisitions occurred on the dates indicated, nor does it give effect to synergies, cost savings, and other changes expected to result from the acquisitions. Accordingly, the pro forma financial results do not purport to be indicative of results of operations as of the date hereof, for any period ended on the date hereof, or for any other future date or period. | |||||||||
For purposes of preparing the unaudited pro forma financial information for the period January 1, 2013 through September 30, 2013, Grass’s statement of operations for the period from January 1, 2013 to February 1, 2013 was combined with our consolidated statement of operations and comprehensive income (loss) for the nine months ended September 30, 2013. | |||||||||
For purposes of preparing the unaudited pro forma financial information for the period January 1, 2012 through June 30, 2012, Grass’s statement of operations and Nicolet’s consolidated statement of revenue and direct expenses for the nine months ended September 30, 2012 were combined with our consolidated statement of operations and comprehensive income (loss) for the nine months ended September 30, 2012. | |||||||||
The unaudited pro forma consolidated results for the nine month period ended September 30, 2013 reflect the historical information of Natus and Grass, adjusted for the following pre-tax amounts: | |||||||||
• | Additional amortization expense of $59,300 related to the fair value of identifiable intangible assets acquired; | ||||||||
• | Decrease of depreciation expense of $14,800 related to the fair value adjustment to property and equipment acquired; | ||||||||
• | Decrease in general and administrative expense of $624,000 related to the direct acquisition costs that were recorded in the unaudited pro forma financial information in the nine months ended September 30, 2012. | ||||||||
The unaudited pro forma consolidated results for the nine month period ended September 30, 2012 reflect the historical information of Natus, Grass and Nicolet, adjusted for the following pre-tax amounts: | |||||||||
• | Elimination of Nicolet’s historical intangible asset amortization expense of approximately $423,000; | ||||||||
• | Additional amortization expense related to Grass of $535,000 and Nicolet of $564,636 related to the fair value of identifiable intangible assets acquired; | ||||||||
• | Decrease of Grass’s depreciation expense of approximately $134,000 and Nicolet’s depreciation expense of approximately $782,000 related to the fair value adjustment to property and equipment acquired; | ||||||||
• | Increase in general and administrative expense relating to Grass’s direct acquisition costs of approximately $624,000 and Nicolet’s direct acquisition costs of $3.3 million; | ||||||||
• | Increase in cost of goods sold relating to Nicolet’s fair value inventory adjustments of $571,000. |
Basic_and_Diluted_Earnings_Per
Basic and Diluted Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' |
Basic and Diluted Earnings Per Common Share | ' |
3 - Basic and Diluted Earnings Per Common Share | |
Basic earnings per share is based upon the weighted average number of common shares outstanding during the period. Diluted earnings per share is based upon the weighted average number of common shares outstanding and dilutive common stock equivalents outstanding during the period. Common stock equivalents are options granted and shares of restricted stock issued under our stock awards plans and are calculated under the treasury stock method. Common equivalent shares from unexercised stock options and unvested restricted stock are excluded from the computation when there is a loss as their effect is anti-dilutive or if the exercise price of such unexercised options is greater than the average market price of the stock for the period. | |
For the three and nine months ended September 30, 2013, common stock equivalents of 694,582 and 752,544 shares, respectively, were included in the weighted average shares outstanding used to calculate diluted earnings per share, while common stock equivalents of 1,657,210 and 1,660,852 shares, respectively, were excluded from the calculation of diluted earnings per share because the exercise price of the underlying options was greater than the average market price of the stock for the period. | |
For the three and nine months ended September 30, 2012, no common stock equivalent shares were included in the weighted average shares outstanding used to calculate diluted earnings per share because there was a loss in the periods. |
Inventories
Inventories | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
4 - Inventories | |||||||||
Inventories consist of the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Raw materials and subassemblies | $ | 21,814 | $ | 21,373 | |||||
Work in process | 3,007 | 3,085 | |||||||
Finished goods | 19,409 | 19,795 | |||||||
Total inventories | 44,230 | 44,253 | |||||||
Less: Non-current inventories | (4,854 | ) | (3,497 | ) | |||||
Inventories, current | $ | 39,376 | $ | 40,756 | |||||
At September 30, 2013 and December 31, 2012, the Company has classified $4.9 million and $3.5 million respectively, of inventories, as non-current. This inventory consists primarily of service components used to repair products pursuant to warranty obligations and extended service contracts, including service components for products we are not currently selling. Management believes that these inventories will be utilized for their intended purpose. |
Intangible_Assets
Intangible Assets | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Intangible Assets | ' | ||||||||||||||||||||||||||||||||
5 - Intangible Assets | |||||||||||||||||||||||||||||||||
The following table summarizes the components of gross and net intangible asset balances (in thousands): | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Gross | Accumulated | Accumulated | Net Book | Gross | Accumulated | Accumulated | Net Book | ||||||||||||||||||||||||||
Carrying | Impairment | Amortization | Value | Carrying | Impairment | Amortization | Value | ||||||||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||||||||||
Intangible assets with definite lives: | |||||||||||||||||||||||||||||||||
Technology | $ | 66,380 | — | $ | (24,161 | ) | $ | 42,219 | $ | 63,880 | — | $ | (20,901 | ) | $ | 42,979 | |||||||||||||||||
Customer related | 32,148 | — | (9,563 | ) | 22,585 | 26,948 | — | (7,563 | ) | 19,385 | |||||||||||||||||||||||
Internally developed software | 11,068 | — | (4,816 | ) | 6,252 | 9,790 | — | (4,045 | ) | 5,745 | |||||||||||||||||||||||
Patents | 2,812 | — | (2,016 | ) | 796 | 2,812 | — | (1,925 | ) | 887 | |||||||||||||||||||||||
Backlog | 724 | — | (724 | ) | — | 724 | — | (724 | ) | — | |||||||||||||||||||||||
Definite-lived intangible assets | 113,132 | (41,280 | ) | 71,852 | 104,154 | (35,158 | ) | 68,996 | |||||||||||||||||||||||||
Intangible assets with indefinite lives: | |||||||||||||||||||||||||||||||||
Tradenames | 33,770 | (1,560 | ) | — | 32,210 | 30,778 | (1,560 | ) | — | 29,218 | |||||||||||||||||||||||
Total Intangibles before translation | 146,902 | (1,560 | ) | (41,280 | ) | 104,062 | 134,932 | (1,560 | ) | (35,158 | ) | 98,214 | |||||||||||||||||||||
Translation | (1,964 | ) | — | 278 | (1,687 | ) | (1,864 | ) | — | 244 | (1,620 | ) | |||||||||||||||||||||
Total intangibles assets | $ | 144,938 | $ | (1,560 | ) | $ | (41,002 | ) | $ | 102,377 | $ | 133,068 | $ | (1,560 | ) | $ | (34,914 | ) | $ | 96,594 | |||||||||||||
Definite-lived intangible assets are amortized over their weighted average lives of 15 years for technology, 12 years for customer related intangibles, 7 years for internally developed software, and 14 years for patents. Intangible assets with indefinite lives are not subject to amortization. | |||||||||||||||||||||||||||||||||
Internally developed software consists of $10.1 million relating to costs incurred for development of internal use computer software and $943,000 for development of software to be sold. | |||||||||||||||||||||||||||||||||
Amortization expense related to intangible assets with definite lives was as follows (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Technology | $ | 1,095 | $ | 1,034 | $ | 3,260 | $ | 2,575 | |||||||||||||||||||||||||
Customer Related | 678 | 595 | 2,000 | 1,491 | |||||||||||||||||||||||||||||
Internally developed software | 262 | 68 | 771 | 1,269 | |||||||||||||||||||||||||||||
Patents | 30 | 60 | 91 | 161 | |||||||||||||||||||||||||||||
Backlog | — | 712 | — | 712 | |||||||||||||||||||||||||||||
Total amortization | $ | 2,065 | $ | 2,469 | $ | 6,122 | $ | 6,208 | |||||||||||||||||||||||||
Expected amortization expense related to amortizable intangible assets is as follows (in thousands): | |||||||||||||||||||||||||||||||||
Three months ending December 31, 2013 | $ | 2,032 | |||||||||||||||||||||||||||||||
2014 | 7,922 | ||||||||||||||||||||||||||||||||
2015 | 7,581 | ||||||||||||||||||||||||||||||||
2016 | 6,747 | ||||||||||||||||||||||||||||||||
2017 | 6,364 | ||||||||||||||||||||||||||||||||
2018 | 6,193 | ||||||||||||||||||||||||||||||||
Thereafter | 35,013 | ||||||||||||||||||||||||||||||||
Total expected amortization expense | $ | 71,852 | |||||||||||||||||||||||||||||||
Goodwill
Goodwill | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||
Goodwill | ' | ||||
6 - Goodwill | |||||
The carrying amount of goodwill and the changes in those balances are as follows (in thousands): | |||||
Gross Balance, December 31, 2012 | $ | 112,048 | |||
Accumulated impairment losses | (20,000 | ) | |||
Balance net of impairment losses, December 31, 2012 | 92,048 | ||||
Goodwill as a result of acquisitions | 5,607 | ||||
Foreign currency translation | (332 | ) | |||
Balance, September 30, 2013 | $ | 97,323 | |||
Property_and_Equipment_net
Property and Equipment, net | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment, net | ' | ||||||||
7 - Property and Equipment, net | |||||||||
Property and equipment, net consist of the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Land | $ | 4,232 | $ | 4,371 | |||||
Buildings | 10,737 | 11,422 | |||||||
Leasehold improvements | 3,376 | 3,450 | |||||||
Office furniture and equipment | 12,182 | 11,601 | |||||||
Computer software and hardware | 10,881 | 10,114 | |||||||
Demonstration and loaned equipment | 11,372 | 11,505 | |||||||
52,780 | 52,463 | ||||||||
Accumulated depreciation and amortization | (28,355 | ) | (25,951 | ) | |||||
Total | $ | 24,425 | $ | 26,512 | |||||
Depreciation and amortization expense of property and equipment was approximately $1.2 and $3.5 million for the three and nine months ended September 30, 2013, respectively, and was approximately $1.0 and $3.2 million for the three and nine months ended September 30, 2012, respectively. |
Reserve_for_Product_Warranties
Reserve for Product Warranties | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Guarantees [Abstract] | ' | ||||||||||||||||
Reserve for Product Warranties | ' | ||||||||||||||||
8 - Reserve for Product Warranties | |||||||||||||||||
We provide a warranty on all medical device products that is generally one year in length. We also sell extended service agreements on our medical device products that are generally over one year in lenght. Service for domestic customers is provided by Company-owned service centers that perform all service, repair, and calibration services. Service for international customers is provided by a combination of Company-owned facilities and third-party vendors on a contract basis. | |||||||||||||||||
We have accrued a warranty reserve, included in accrued liabilities on the accompanying balance sheets, for the expected future costs of servicing products during the initial warranty period. We base the liability on actual warranty costs incurred to service those products. On new products, additions to the reserve are based on a combination of factors including the percentage of service department labor applied to warranty repairs, as well as actual service department costs, and other judgments, such as the degree to which the product incorporates new technology. The reserve is reduced as costs are incurred to honor existing warranty obligations. | |||||||||||||||||
The details of activity in the warranty reserve are as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Balance, beginning of period | $ | 2,070 | $ | 2,225 | $ | 2,260 | $ | 2,157 | |||||||||
Acquisition warranty assumed | — | 630 | 191 | 630 | |||||||||||||
Warranty accrued for the period | 47 | 129 | 818 | 540 | |||||||||||||
Repairs for the period | (83 | ) | (500 | ) | (1,235 | ) | (843 | ) | |||||||||
Balance, end of period | $ | 2,034 | $ | 2,484 | $ | 2,034 | $ | 2,484 | |||||||||
The estimates we use in projecting future product warranty costs may prove to be incorrect. Any future determination that our product warranty reserves are understated could result in increases to our cost of sales and reductions in our operating profits and results of operations. |
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Share-Based Compensation | ' | ||||||||||||||||
9 - Share-Based Compensation | |||||||||||||||||
At September 30, 2013, we have two active plans that give rise to share-based compensation, the 2011 Stock Awards Plan and the 2011 Employee Stock Purchase Plan. The terms of awards granted during the nine months ended September 30, 2013 and our methods for determining grant-date fair value of the awards were consistent with those described in the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2012. | |||||||||||||||||
Detail of share-based compensation expense is as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of revenue | $ | 14 | $ | 49 | $ | 109 | $ | 161 | |||||||||
Marketing and sales | 202 | 400 | 675 | 927 | |||||||||||||
Research and development | 175 | 167 | 416 | 380 | |||||||||||||
General and administrative | 1,037 | 1,855 | 3,408 | 3,539 | |||||||||||||
Total | $ | 1,428 | $ | 2,471 | $ | 4,608 | $ | 5,007 | |||||||||
As of September 30, 2013, unrecognized compensation expense related to the unvested portion of our stock options and other stock awards was approximately $14.8 million, which is expected to be recognized over a weighted average period of 2.9 years. | |||||||||||||||||
Stock Options | |||||||||||||||||
Activity in our stock options during the nine months ended September 30, 2013 is as follows: | |||||||||||||||||
Shares | Weighted | Weighted- | Aggregate | ||||||||||||||
Average | average | intrinsic | |||||||||||||||
Exercise | remaining | value | |||||||||||||||
Price | contractual | ($ 000’s) | |||||||||||||||
life (years) | |||||||||||||||||
Outstanding, beginning of period | 3,882,239 | $ | 11.71 | ||||||||||||||
Granted | 626,420 | $ | 14.08 | ||||||||||||||
Exercised | (562,688 | ) | $ | 8.09 | |||||||||||||
Cancelled | (642,243 | ) | $ | 15.52 | |||||||||||||
Outstanding, end of period | 3,303,728 | $ | 12.03 | 4 | $ | 10,059 | |||||||||||
Exercisable, end of period | 2,198,970 | $ | 11.38 | 2.2 | $ | 8,647 | |||||||||||
Vested and expected to vest, end of period | 3,138,903 | $ | 11.97 | 3.8 | $ | 9,859 | |||||||||||
The intrinsic value of options exercised during the nine months ended September 30, 2013 was $3.4 million. | |||||||||||||||||
Restricted Stock Awards | |||||||||||||||||
Activity in our restricted stock awards (“RSAs”) during the nine months ended September 30, 2013 is as follows: | |||||||||||||||||
Shares | Weighted- | Remaining cost | |||||||||||||||
average | expected to be | ||||||||||||||||
grant date | recognized | ||||||||||||||||
fair value | ($ 000’s) | ||||||||||||||||
Unvested, beginning of period | 690,890 | $ | 13.02 | ||||||||||||||
Granted | 311,180 | $ | 14.06 | ||||||||||||||
Vested | (226,395 | ) | $ | 13.92 | |||||||||||||
Forfeited | (150,020 | ) | $ | 12.87 | |||||||||||||
Unvested, end of period | 625,655 | $ | 13.27 | $ | 9.2 | ||||||||||||
We award restricted stock awards to U.S. employees of the Company that vest 50% upon the second anniversary of the vesting start date and 25% upon each of the third and fourth anniversaries of the vesting start date. We also award RSA’s to non-employee directors of the Company that vest on the first anniversary of the grant date. | |||||||||||||||||
At September 30, 2013 the fair market value of outstanding RSAs was $8.9 million and the weighted average remaining recognition period of unvested RSAs was 2.9 years. At December 31, 2012 the fair market value of outstanding RSAs was $7.7 million and the weighted average remaining recognition period was 2.6 years. The intrinsic value of RSAs equals their fair market value. | |||||||||||||||||
Restricted Stock Units | |||||||||||||||||
Activity in our restricted stock units (“RSUs”) during the nine months ended September 30, 2013 is as follows: | |||||||||||||||||
Shares | Weighted- | Aggregate | |||||||||||||||
average | intrinsic value | ||||||||||||||||
remaining | |||||||||||||||||
contractual | |||||||||||||||||
life (years) | |||||||||||||||||
Outstanding, beginning of period | 50,050 | ||||||||||||||||
Awarded | 30,890 | ||||||||||||||||
Released | (9,974 | ) | |||||||||||||||
Forfeited | (15,875 | ) | |||||||||||||||
Outstanding, end of period | 55,091 | 1.8 | $ | 781,000 | |||||||||||||
We award restricted stock units to non-U.S. employees of the Company that vest 50% upon the second anniversary of the vesting start date and 25% upon each of the third and fourth anniversaries of the vesting start date. | |||||||||||||||||
At September 30, 2013 the aggregate intrinsic value of outstanding RSUs was $781,000 and the weighted average remaining recognition period for unvested RSUs was 2.9 years. At December 31, 2012 the aggregate intrinsic value of outstanding RSUs was $559,000 and the weighted average remaining recognition period for unvested RSUs was 2.8 years. |
Other_Income_Expense_Net
Other Income (Expense), Net | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||||||
Other Income (Expense), Net | ' | ||||||||||||||||
10 - Other income (expense), net | |||||||||||||||||
Other income (expense), net consisted of (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Investment income | $ | 4 | $ | 11 | $ | 68 | $ | 20 | |||||||||
Interest expense | (138 | ) | (215 | ) | (1,084 | ) | (231 | ) | |||||||||
Foreign currency exchange gain (loss) | (165 | ) | 136 | (215 | ) | 470 | |||||||||||
Other | (281 | ) | (150 | ) | (206 | ) | — | ||||||||||
Total other income (expense), net | $ | (580 | ) | $ | (218 | ) | $ | (1,437 | ) | $ | 259 | ||||||
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
11 - Income Taxes | |
Provision for Income Tax Expense | |
We recorded provisions for income tax of $2.3 and $5 million for the three and nine months ended September 30, 2013, respectively. Our effective tax rate was 26.5% for both the three and nine month periods ended September 30, 2013, respectively. | |
We recorded provisions for income tax (benefit) of $(3.0) million and $(2.1) million for the three and nine months ended September 30, 2012, respectively. Our effective tax rate was 63.5% and 65.2% for the three and nine months ended September 30, 2012, respectively. | |
Our effective tax rate for the nine months ended September 30, 2013 differed from statutory tax rates primarily because of profits taxed in foreign jurisdictions with lower tax rates than the statutory rate and tax benefits related to the 2012 federal research and development tax credit by enactment of the American Taxpayer Relief Act of 2012, in January 2013 domestic manufacturer deduction, and the reduction of the Denmark corporate income tax rate beginning in 2014. The federal research and development credit, domestic manufacturer deduction, and Denmark rate reduction collectively benefited the effective tax rate for the nine month period ended September 30, 2013 by approximately 6%. | |
Our effective tax rate for the nine months ended September 30, 2012 differed from statutory tax rates primarily due to the settlement of foreign and U.S. state income tax audits and from the expiration of the statute of limitations on uncertain tax positions that were recorded as a component of income tax expense in prior years. | |
There was an insignificant increase of unrecognized tax benefits for the nine months ended September 30, 2013. Within the next twelve months it is possible our uncertain tax benefit may change within a range of approximately zero to $600,000. This change may impact the future effective tax rate and is a result of a lapse of statute of limitations, provided that no taxing authority conducts an examination. | |
Our tax returns remain open to examination as follows: U.S. Federal, 2010 through 2012, U.S. States 2008 through 2012 and significant foreign jurisdictions, 2009 through 2012. |
Restructuring_Reserves
Restructuring Reserves | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring Reserves | ' | ||||||||||||||||
12 - Restructuring Reserves | |||||||||||||||||
In each of the first and second quarters of 2011, we adopted reorganization plans to improve efficiencies in our operations and integrate the acquisitions of Medix in 2010 and Embla 2011. These restructuring activities were completed as of March 31, 2013. | |||||||||||||||||
In July 2012, we initiated an integration and reorganization plan related to the acquisition of Nicolet to improve efficiencies in our operations resulting in costs incurred associated with employee severance. Substantially all of the staff reductions were completed by March 31, 2013. | |||||||||||||||||
In January 2013, we adopted reorganization plans that are designed to continue to improve efficiencies in our operating units in Europe and South America. These plans were further expanded during the third quarter of 2013 to improve our North America operations. | |||||||||||||||||
The balance of the restructuring reserve is included in accrued liabilities on the accompanying balance sheets. Employee termination benefits expensed are included as a part of general and administrative expenses. | |||||||||||||||||
Activity in the restructuring reserves for these plans for the nine months ended September 30, 2013 is as follows (in thousands): | |||||||||||||||||
2011 | July | 2013 | Totals | ||||||||||||||
Plans | 2012 Plan | Plans | |||||||||||||||
Balances at December 31, 2012 | $ | 83 | $ | 2,662 | $ | — | $ | 2,745 | |||||||||
Expense – Severance | 4 | 211 | 2,198 | 2,413 | |||||||||||||
Expense – Lease Termination | — | — | 571 | 571 | |||||||||||||
Cash payments | (71 | ) | (1,350 | ) | (1,625 | ) | (3,046 | ) | |||||||||
Accrual reversal | (16 | ) | (1,334 | ) | (18 | ) | (1,368 | ) | |||||||||
Balances at September 30, 2013 | $ | — | $ | 189 | $ | 1,126 | $ | 1,315 | |||||||||
Debt_and_Credit_Arrangements
Debt and Credit Arrangements | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt and Credit Arrangements | ' | ||||||||
13 - Debt and Credit Arrangements | |||||||||
At September 30, 2013 the Company had a $75 million credit facility consisting of a $25 million revolving credit line and a $50 million 5-year term loan with Wells Fargo Bank, National Association (“Wells Fargo”). The credit facility contains covenants, including covenants relating to liquidity and other financial measurements, and provides for events of default, including failure to pay any interest when due, failure to perform or observe covenants, bankruptcy or insolvency events, and the occurrence of a material adverse effect, and restricts our ability to pay dividends. We are in compliance with all covenants as of September 30, 2013. We have granted Wells Fargo a security interest in substantially all of our assets. We have no other significant credit facilities. | |||||||||
During the first quarter 2013 we borrowed $22 million under the credit facility principally to fund the Grass acquisition and to provide for other working capital needs. We had no additional borrowings. | |||||||||
The credit facility was increased to $75 million in June 2013 and the term was extended to five years. As part of the amended credit facility in June 2013, we converted $31.2 million of short-term revolving debt to a term loan, increasing the term loan from $18.8 million as of March 31, 2013 to $50 million as of June 30, 2013. | |||||||||
Long-term debt is comprised of the following (2013 and 2012 columns in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Term loan $50 million, interest at LIBOR plus 1.75%, due September 30, 2018 with term loan principle repayable in quarterly installments of $2.5 million | $ | 47,500 | $ | 20,834 | |||||
Term loan $2.9 million Canadian (“CAD”), interest at cost of funds plus 2.5%, due September 15, 2014 with principle repayable in monthly installments of $16,000 until August 15, 2014 and one final payment of $404,000 collateralized by a first lien on company owned land and building | 563 | 726 | |||||||
Total | 48,063 | 21,560 | |||||||
Less: current portion of long-term debt | (10,563 | ) | (8,526 | ) | |||||
Total long-term debt | $ | 37,500 | $ | 13,034 | |||||
Maturities of long-term debt as of September 30, 2013 are as follows (in thousands): | |||||||||
Three months ended December 31, 2013 | $ | 2,547 | |||||||
2014 | 10,516 | ||||||||
2015 | 10,000 | ||||||||
2016 | 10,000 | ||||||||
2017 | 10,000 | ||||||||
2018 | 5,000 | ||||||||
Total | $ | 48,063 | |||||||
At September 30, 2013 and December 31, 2012, the carrying value of total debt approximates fair market value. The fair value of the Company’s debt is considered a Level 2 measurement. |
Segment_Customer_and_Geographi
Segment, Customer and Geographic Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment, Customer and Geographic Information | ' | ||||||||||||||||
14 - Segment, Customer and Geographic Information | |||||||||||||||||
We operate in one reportable segment in which we provide healthcare products used for the screening, detection, treatment, monitoring and tracking of common medical ailments. | |||||||||||||||||
Our end-user customer base includes hospitals, clinics, laboratories, physicians, nurses, audiologists, and governmental agencies. Most of our international sales are to distributors who resell our products to end users or sub-distributors. | |||||||||||||||||
Revenue and long-lived asset information is as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Consolidated Revenue: | |||||||||||||||||
United States | $ | 51,412 | $ | 48,003 | $ | 147,702 | $ | 112,540 | |||||||||
Foreign countries | 33,980 | 33,016 | 105,773 | 88,919 | |||||||||||||
Totals | $ | 85,392 | $ | 81,019 | $ | 253,475 | $ | 201,459 | |||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue by End Market: | |||||||||||||||||
Neurology Products | |||||||||||||||||
Devices and Systems | $ | 34,729 | $ | 30,722 | $ | 100,630 | $ | 70,409 | |||||||||
Supplies | 15,311 | 14,922 | 45,949 | 29,791 | |||||||||||||
Services | 5,313 | 4,867 | 17,258 | 8,589 | |||||||||||||
Total Neurology Revenue | 55,353 | 50,511 | 163,837 | 108,879 | |||||||||||||
Newborn Care Products | |||||||||||||||||
Devices and Systems | 18,163 | 17,342 | 51,461 | 55,642 | |||||||||||||
Supplies | 10,031 | 11,806 | 33,032 | 33,602 | |||||||||||||
Services | 1,845 | 1,360 | 5,145 | 3,426 | |||||||||||||
Total Newborn Care Revenue | 30,039 | 30,508 | 89,638 | 92,670 | |||||||||||||
Total Revenue | $ | 85,392 | $ | 81,019 | $ | 253,475 | $ | 201,459 | |||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Long-lived assets, net: | |||||||||||||||||
United States | $ | 9,829 | $ | 9,813 | |||||||||||||
Foreign countries | 14,596 | 16,699 | |||||||||||||||
Totals | $ | 24,425 | $ | 26,512 | |||||||||||||
Long-lived assets consist principally of property and equipment, net of accumulated depreciation and amortization. During the three and nine months ended September 30, 2013 and 2012, no single customer or foreign country contributed to more than 10% of revenue. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
15 - Fair Value Measurements | |||||||||||||||||
ASC 820 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. Fair value is defined under ASC 820 as the exit price associated with the sale of an asset or transfer of a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes the following three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value: | |||||||||||||||||
Level 1 - Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. | |||||||||||||||||
Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||
Level 3 - Unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. | |||||||||||||||||
The fair value of our assets and liabilities subject to fair value measurements are as follows (in thousands): | |||||||||||||||||
Fair Value as | Fair Value Measurements as of | ||||||||||||||||
of | 9/30/13 Using Fair Value Hierarchy | ||||||||||||||||
9/30/13 | Level 1 | Level 2 | Level 3 | ||||||||||||||
Bank money market investments | $ | 1,149 | — | $ | 1,149 | — | |||||||||||
Total | $ | 1,149 | — | $ | 1,149 | — | |||||||||||
Fair Value | Fair Value Measurements as of | ||||||||||||||||
as of | 12/31/12 Using Fair Value Hierarchy | ||||||||||||||||
12/31/12 | Level 1 | Level 2 | Level 3 | ||||||||||||||
Bank money market investments | $ | 1,148 | — | $ | 1,148 | — | |||||||||||
Total | $ | 1,148 | — | $ | 1,148 | — | |||||||||||
The carrying amount of the Company’s long term debt approximates fair value based on Level 2 inputs since the debt carries a variable interest rate that is tied to the current LIBOR rate plus a spread. | |||||||||||||||||
Non-financial assets such as goodwill, intangible assets, and property, plant, and equipment are evaluated for impairment and adjusted to fair value using Level 3 inputs, only when impairment is recognized. Fair values are considered Level 3 when management makes significant assumptions in developing a discounted cash flow model based upon a number of considerations including projections of revenues, earnings and a discount rate. In addition, in evaluating the fair value of goodwill impairment, further corroboration is obtained using our market capitalization. No impairment was recorded in the first nine months of 2013 and 2012. |
Immaterial_Corrections_to_Prio
Immaterial Corrections to Prior Period Financial Statements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Immaterial Corrections to Prior Period Financial Statements | ' | ||||||||||||||||
16 - Immaterial Corrections to Prior Period Financial Statements | |||||||||||||||||
Certain amounts previously reported in the condensed consolidated statements of operations and comprehensive income (loss) and condensed statements of cash flows for the three and nine month periods ended September 30, 2012 have been restated to reflect the correction of immaterial errors as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The errors were related primarily to purchase accounting adjustments. In addition, certain other errors related to the liability associated with product trade-ins, currency loss on translation of foreign debt, amortization of intangible assets, the tax benefit associated with the release of accruals for uncertain tax positions were identified and corrected. The errors are not material individually or in the aggregate. | |||||||||||||||||
A summary of the effects of the correction of these errors on our condensed consolidated financial statements for the three and nine month periods ended September 30, 2012 are presented in the table below (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||
As | As | As | As | ||||||||||||||
Previously | Corrected | Previously | Corrected | ||||||||||||||
Reported | Reported | ||||||||||||||||
Condensed Consolidated Statements of Operations and Comprehensive Income | |||||||||||||||||
Revenue | $ | 80,724 | $ | 81,019 | $ | 201,247 | $ | 201,459 | |||||||||
Cost of revenue | 36,453 | 36,456 | 89,266 | 89,237 | |||||||||||||
Gross profit | 44,271 | 44,563 | 111,981 | 112,222 | |||||||||||||
Income (loss) from operations | (4,851 | ) | (4,566 | ) | (3,885 | ) | (3,521 | ) | |||||||||
Income (loss) before provision for income tax | (5,079 | ) | (4,784 | ) | (3,659 | ) | (3,262 | ) | |||||||||
Net income (loss) | (1,949 | ) | (1,747 | ) | (1,146 | ) | (1,134 | ) | |||||||||
Condensed Consolidated Statements of Cash Flows | |||||||||||||||||
Net income (loss) | $ | (1,146 | ) | $ | (1,134 | ) | |||||||||||
Depreciation and amortization | 9,532 | 9,356 | |||||||||||||||
Change in operating assets and liabilities | |||||||||||||||||
Inventories | 5,131 | 5,154 | |||||||||||||||
Deferred income tax | (648 | ) | 7 | ||||||||||||||
Accrued liabilities and deferred revenue | 6,261 | 5,803 | |||||||||||||||
Net cash provided by operating activities | 16,982 | 17,038 | |||||||||||||||
Exchange rate changes effect on cash and cash equivalents | (32 | ) | (88 | ) |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income - In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. (“ASU”) 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This topic requires us to provide information about the amounts reclassified out of accumulated other comprehensive income by component and the line items of net income to which significant amounts are reclassified. This topic is for annual and interim periods beginning after December 15, 2012. The update did not have a material impact on the Company’s consolidated financial position, results of operations or cash flows. |
Business_Combinations_Tables
Business Combinations (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Unaudited Pro forma Financial Information | ' | ||||||||
The following unaudited pro forma information combining results of operations of the Company for the nine months ended September 30, 2013 and 2012 are presented as if the acquisitions of Grass and Nicolet had occurred on January 1, 2012: | |||||||||
Unaudited Pro forma Financial Information | |||||||||
(in thousands) | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Revenue | $ | 254,480 | $ | 287,781 | |||||
Income (loss) from operations | $ | 21,603 | $ | (1,298 | ) |
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Summary of Inventories | ' | ||||||||
Inventories consist of the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Raw materials and subassemblies | $ | 21,814 | $ | 21,373 | |||||
Work in process | 3,007 | 3,085 | |||||||
Finished goods | 19,409 | 19,795 | |||||||
Total inventories | 44,230 | 44,253 | |||||||
Less: Non-current inventories | (4,854 | ) | (3,497 | ) | |||||
Inventories, current | $ | 39,376 | $ | 40,756 | |||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Components of Gross and Net Intangible Asset Balances | ' | ||||||||||||||||||||||||||||||||
The following table summarizes the components of gross and net intangible asset balances (in thousands): | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Gross | Accumulated | Accumulated | Net Book | Gross | Accumulated | Accumulated | Net Book | ||||||||||||||||||||||||||
Carrying | Impairment | Amortization | Value | Carrying | Impairment | Amortization | Value | ||||||||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||||||||||
Intangible assets with definite lives: | |||||||||||||||||||||||||||||||||
Technology | $ | 66,380 | — | $ | (24,161 | ) | $ | 42,219 | $ | 63,880 | — | $ | (20,901 | ) | $ | 42,979 | |||||||||||||||||
Customer related | 32,148 | — | (9,563 | ) | 22,585 | 26,948 | — | (7,563 | ) | 19,385 | |||||||||||||||||||||||
Internally developed software | 11,068 | — | (4,816 | ) | 6,252 | 9,790 | — | (4,045 | ) | 5,745 | |||||||||||||||||||||||
Patents | 2,812 | — | (2,016 | ) | 796 | 2,812 | — | (1,925 | ) | 887 | |||||||||||||||||||||||
Backlog | 724 | — | (724 | ) | — | 724 | — | (724 | ) | — | |||||||||||||||||||||||
Definite-lived intangible assets | 113,132 | (41,280 | ) | 71,852 | 104,154 | (35,158 | ) | 68,996 | |||||||||||||||||||||||||
Intangible assets with indefinite lives: | |||||||||||||||||||||||||||||||||
Tradenames | 33,770 | (1,560 | ) | — | 32,210 | 30,778 | (1,560 | ) | — | 29,218 | |||||||||||||||||||||||
Total Intangibles before translation | 146,902 | (1,560 | ) | (41,280 | ) | 104,062 | 134,932 | (1,560 | ) | (35,158 | ) | 98,214 | |||||||||||||||||||||
Translation | (1,964 | ) | — | 278 | (1,687 | ) | (1,864 | ) | — | 244 | (1,620 | ) | |||||||||||||||||||||
Total intangibles assets | $ | 144,938 | $ | (1,560 | ) | $ | (41,002 | ) | $ | 102,377 | $ | 133,068 | $ | (1,560 | ) | $ | (34,914 | ) | $ | 96,594 | |||||||||||||
Amortization Expense Related to Intangible Assets with Definite Lives | ' | ||||||||||||||||||||||||||||||||
Amortization expense related to intangible assets with definite lives was as follows (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Technology | $ | 1,095 | $ | 1,034 | $ | 3,260 | $ | 2,575 | |||||||||||||||||||||||||
Customer Related | 678 | 595 | 2,000 | 1,491 | |||||||||||||||||||||||||||||
Internally developed software | 262 | 68 | 771 | 1,269 | |||||||||||||||||||||||||||||
Patents | 30 | 60 | 91 | 161 | |||||||||||||||||||||||||||||
Backlog | — | 712 | — | 712 | |||||||||||||||||||||||||||||
Total amortization | $ | 2,065 | $ | 2,469 | $ | 6,122 | $ | 6,208 | |||||||||||||||||||||||||
Expected Amortization Expense Related to Amortizable Intangible Assets | ' | ||||||||||||||||||||||||||||||||
Expected amortization expense related to amortizable intangible assets is as follows (in thousands): | |||||||||||||||||||||||||||||||||
Three months ending December 31, 2013 | $ | 2,032 | |||||||||||||||||||||||||||||||
2014 | 7,922 | ||||||||||||||||||||||||||||||||
2015 | 7,581 | ||||||||||||||||||||||||||||||||
2016 | 6,747 | ||||||||||||||||||||||||||||||||
2017 | 6,364 | ||||||||||||||||||||||||||||||||
2018 | 6,193 | ||||||||||||||||||||||||||||||||
Thereafter | 35,013 | ||||||||||||||||||||||||||||||||
Total expected amortization expense | $ | 71,852 | |||||||||||||||||||||||||||||||
Goodwill_Tables
Goodwill (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||
Carrying Amount of Goodwill | ' | ||||
The carrying amount of goodwill and the changes in those balances are as follows (in thousands): | |||||
Gross Balance, December 31, 2012 | $ | 112,048 | |||
Accumulated impairment losses | (20,000 | ) | |||
Balance net of impairment losses, December 31, 2012 | 92,048 | ||||
Goodwill as a result of acquisitions | 5,607 | ||||
Foreign currency translation | (332 | ) | |||
Balance, September 30, 2013 | $ | 97,323 | |||
Property_and_Equipment_net_Tab
Property and Equipment, net (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment Net | ' | ||||||||
Property and equipment, net consist of the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Land | $ | 4,232 | $ | 4,371 | |||||
Buildings | 10,737 | 11,422 | |||||||
Leasehold improvements | 3,376 | 3,450 | |||||||
Office furniture and equipment | 12,182 | 11,601 | |||||||
Computer software and hardware | 10,881 | 10,114 | |||||||
Demonstration and loaned equipment | 11,372 | 11,505 | |||||||
52,780 | 52,463 | ||||||||
Accumulated depreciation and amortization | (28,355 | ) | (25,951 | ) | |||||
Total | $ | 24,425 | $ | 26,512 | |||||
Reserve_for_Product_Warranties1
Reserve for Product Warranties (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Guarantees [Abstract] | ' | ||||||||||||||||
Reserve for Product Warranties | ' | ||||||||||||||||
The details of activity in the warranty reserve are as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Balance, beginning of period | $ | 2,070 | $ | 2,225 | $ | 2,260 | $ | 2,157 | |||||||||
Acquisition warranty assumed | — | 630 | 191 | 630 | |||||||||||||
Warranty accrued for the period | 47 | 129 | 818 | 540 | |||||||||||||
Repairs for the period | (83 | ) | (500 | ) | (1,235 | ) | (843 | ) | |||||||||
Balance, end of period | $ | 2,034 | $ | 2,484 | $ | 2,034 | $ | 2,484 | |||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Share-Based Compensation Expense | ' | ||||||||||||||||
Detail of share-based compensation expense is as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of revenue | $ | 14 | $ | 49 | $ | 109 | $ | 161 | |||||||||
Marketing and sales | 202 | 400 | 675 | 927 | |||||||||||||
Research and development | 175 | 167 | 416 | 380 | |||||||||||||
General and administrative | 1,037 | 1,855 | 3,408 | 3,539 | |||||||||||||
Total | $ | 1,428 | $ | 2,471 | $ | 4,608 | $ | 5,007 | |||||||||
Stock Options Activity | ' | ||||||||||||||||
Activity in our stock options during the nine months ended September 30, 2013 is as follows: | |||||||||||||||||
Shares | Weighted | Weighted- | Aggregate | ||||||||||||||
Average | average | intrinsic | |||||||||||||||
Exercise | remaining | value | |||||||||||||||
Price | contractual | ($ 000’s) | |||||||||||||||
life (years) | |||||||||||||||||
Outstanding, beginning of period | 3,882,239 | $ | 11.71 | ||||||||||||||
Granted | 626,420 | $ | 14.08 | ||||||||||||||
Exercised | (562,688 | ) | $ | 8.09 | |||||||||||||
Cancelled | (642,243 | ) | $ | 15.52 | |||||||||||||
Outstanding, end of period | 3,303,728 | $ | 12.03 | 4 | $ | 10,059 | |||||||||||
Exercisable, end of period | 2,198,970 | $ | 11.38 | 2.2 | $ | 8,647 | |||||||||||
Vested and expected to vest, end of period | 3,138,903 | $ | 11.97 | 3.8 | $ | 9,859 | |||||||||||
Restricted Stock Awards Activity | ' | ||||||||||||||||
Activity in our restricted stock awards (“RSAs”) during the nine months ended September 30, 2013 is as follows: | |||||||||||||||||
Shares | Weighted- | Remaining cost | |||||||||||||||
average | expected to be | ||||||||||||||||
grant date | recognized | ||||||||||||||||
fair value | ($ 000’s) | ||||||||||||||||
Unvested, beginning of period | 690,890 | $ | 13.02 | ||||||||||||||
Granted | 311,180 | $ | 14.06 | ||||||||||||||
Vested | (226,395 | ) | $ | 13.92 | |||||||||||||
Forfeited | (150,020 | ) | $ | 12.87 | |||||||||||||
Unvested, end of period | 625,655 | $ | 13.27 | $ | 9.2 | ||||||||||||
Restricted Stock Units Activity | ' | ||||||||||||||||
Activity in our restricted stock units (“RSUs”) during the nine months ended September 30, 2013 is as follows: | |||||||||||||||||
Shares | Weighted- | Aggregate | |||||||||||||||
average | intrinsic value | ||||||||||||||||
remaining | |||||||||||||||||
contractual | |||||||||||||||||
life (years) | |||||||||||||||||
Outstanding, beginning of period | 50,050 | ||||||||||||||||
Awarded | 30,890 | ||||||||||||||||
Released | (9,974 | ) | |||||||||||||||
Forfeited | (15,875 | ) | |||||||||||||||
Outstanding, end of period | 55,091 | 1.8 | $ | 781,000 | |||||||||||||
Other_Income_Expense_Net_Table
Other Income (Expense), Net (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||||||
Schedule of Other Income (Expense), Net | ' | ||||||||||||||||
Other income (expense), net consisted of (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Investment income | $ | 4 | $ | 11 | $ | 68 | $ | 20 | |||||||||
Interest expense | (138 | ) | (215 | ) | (1,084 | ) | (231 | ) | |||||||||
Foreign currency exchange gain (loss) | (165 | ) | 136 | (215 | ) | 470 | |||||||||||
Other | (281 | ) | (150 | ) | (206 | ) | — | ||||||||||
Total other income (expense), net | $ | (580 | ) | $ | (218 | ) | $ | (1,437 | ) | $ | 259 | ||||||
Restructuring_Reserves_Tables
Restructuring Reserves (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||||||
Detail of Activity in Restructing Reserves | ' | ||||||||||||||||
Activity in the restructuring reserves for these plans for the nine months ended September 30, 2013 is as follows (in thousands): | |||||||||||||||||
2011 | July | 2013 | Totals | ||||||||||||||
Plans | 2012 Plan | Plans | |||||||||||||||
Balances at December 31, 2012 | $ | 83 | $ | 2,662 | $ | — | $ | 2,745 | |||||||||
Expense – Severance | 4 | 211 | 2,198 | 2,413 | |||||||||||||
Expense – Lease Termination | — | — | 571 | 571 | |||||||||||||
Cash payments | (71 | ) | (1,350 | ) | (1,625 | ) | (3,046 | ) | |||||||||
Accrual reversal | (16 | ) | (1,334 | ) | (18 | ) | (1,368 | ) | |||||||||
Balances at September 30, 2013 | $ | — | $ | 189 | $ | 1,126 | $ | 1,315 | |||||||||
Debt_and_Credit_Arrangements_T
Debt and Credit Arrangements (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Components of Long-Term Debt | ' | ||||||||
Long-term debt is comprised of the following (2013 and 2012 columns in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Term loan $50 million, interest at LIBOR plus 1.75%, due September 30, 2018 with term loan principle repayable in quarterly installments of $2.5 million | $ | 47,500 | $ | 20,834 | |||||
Term loan $2.9 million Canadian (“CAD”), interest at cost of funds plus 2.5%, due September 15, 2014 with principle repayable in monthly installments of $16,000 until August 15, 2014 and one final payment of $404,000 collateralized by a first lien on company owned land and building | 563 | 726 | |||||||
Total | 48,063 | 21,560 | |||||||
Less current portion of long-term debt | (10,563 | ) | (8,526 | ) | |||||
Total long-term debt | $ | 37,500 | $ | 13,034 | |||||
Maturities of Long-Term Debt | ' | ||||||||
Maturities of long-term debt as of September 30, 2013 are as follows (in thousands): | |||||||||
Three months ended December 31, 2013 | $ | 2,547 | |||||||
2014 | 10,516 | ||||||||
2015 | 10,000 | ||||||||
2016 | 10,000 | ||||||||
2017 | 10,000 | ||||||||
2018 | 5,000 | ||||||||
Total | $ | 48,063 | |||||||
Segment_Customer_and_Geographi1
Segment, Customer and Geographic Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Revenue and Long-Lived Asset Information by Geographic Region | ' | ||||||||||||||||
Revenue and long-lived asset information is as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Consolidated Revenue: | |||||||||||||||||
United States | $ | 51,412 | $ | 48,003 | $ | 147,702 | $ | 112,540 | |||||||||
Foreign countries | 33,980 | 33,016 | 105,773 | 88,919 | |||||||||||||
Totals | $ | 85,392 | $ | 81,019 | $ | 253,475 | $ | 201,459 | |||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue by End Market: | |||||||||||||||||
Neurology Products | |||||||||||||||||
Devices and Systems | $ | 34,729 | $ | 30,722 | $ | 100,630 | $ | 70,409 | |||||||||
Supplies | 15,311 | 14,922 | 45,949 | 29,791 | |||||||||||||
Services | 5,313 | 4,867 | 17,258 | 8,589 | |||||||||||||
Total Neurology Revenue | 55,353 | 50,511 | 163,837 | 108,879 | |||||||||||||
Newborn Care Products | |||||||||||||||||
Devices and Systems | 18,163 | 17,342 | 51,461 | 55,642 | |||||||||||||
Supplies | 10,031 | 11,806 | 33,032 | 33,602 | |||||||||||||
Services | 1,845 | 1,360 | 5,145 | 3,426 | |||||||||||||
Total Newborn Care Revenue | 30,039 | 30,508 | 89,638 | 92,670 | |||||||||||||
Total Revenue | $ | 85,392 | $ | 81,019 | $ | 253,475 | $ | 201,459 | |||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Long-lived assets, net: | |||||||||||||||||
United States | $ | 9,829 | $ | 9,813 | |||||||||||||
Foreign countries | 14,596 | 16,699 | |||||||||||||||
Totals | $ | 24,425 | $ | 26,512 | |||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements of Assets and Liabilities | ' | ||||||||||||||||
The fair value of our assets and liabilities subject to fair value measurements are as follows (in thousands): | |||||||||||||||||
Fair Value as | Fair Value Measurements as of | ||||||||||||||||
of | 9/30/13 Using Fair Value Hierarchy | ||||||||||||||||
9/30/13 | Level 1 | Level 2 | Level 3 | ||||||||||||||
Bank money market investments | $ | 1,149 | — | $ | 1,149 | — | |||||||||||
Total | $ | 1,149 | — | $ | 1,149 | — | |||||||||||
Fair Value | Fair Value Measurements as of | ||||||||||||||||
as of | 12/31/12 Using Fair Value Hierarchy | ||||||||||||||||
12/31/12 | Level 1 | Level 2 | Level 3 | ||||||||||||||
Bank money market investments | $ | 1,148 | — | $ | 1,148 | — | |||||||||||
Total | $ | 1,148 | — | $ | 1,148 | — |
Immaterial_Corrections_to_Prio1
Immaterial Corrections to Prior Period Financial Statements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Summary of Effects of Correction of Errors on Consolidated Financial Statements | ' | ||||||||||||||||
A summary of the effects of the correction of these errors on our condensed consolidated financial statements for the three and nine month periods ended September 30, 2012 are presented in the table below (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||
As | As | As | As | ||||||||||||||
Previously | Corrected | Previously | Corrected | ||||||||||||||
Reported | Reported | ||||||||||||||||
Condensed Consolidated Statements of Operations and Comprehensive Income | |||||||||||||||||
Revenue | $ | 80,724 | $ | 81,019 | $ | 201,247 | $ | 201,459 | |||||||||
Cost of revenue | 36,453 | 36,456 | 89,266 | 89,237 | |||||||||||||
Gross profit | 44,271 | 44,563 | 111,981 | 112,222 | |||||||||||||
Income (loss) from operations | (4,851 | ) | (4,566 | ) | (3,885 | ) | (3,521 | ) | |||||||||
Income (loss) before provision for income tax | (5,079 | ) | (4,784 | ) | (3,659 | ) | (3,262 | ) | |||||||||
Net income (loss) | (1,949 | ) | (1,747 | ) | (1,146 | ) | (1,134 | ) | |||||||||
Condensed Consolidated Statements of Cash Flows | |||||||||||||||||
Net income (loss) | $ | (1,146 | ) | $ | (1,134 | ) | |||||||||||
Depreciation and amortization | 9,532 | 9,356 | |||||||||||||||
Change in operating assets and liabilities | |||||||||||||||||
Inventories | 5,131 | 5,154 | |||||||||||||||
Deferred income tax | (648 | ) | 7 | ||||||||||||||
Accrued liabilities and deferred revenue | 6,261 | 5,803 | |||||||||||||||
Net cash provided by operating activities | 16,982 | 17,038 | |||||||||||||||
Exchange rate changes effect on cash and cash equivalents | (32 | ) | (88 | ) |
Business_Combinations_Addition
Business Combinations - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 8 Months Ended | 9 Months Ended | |||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | |
Nicolet [Member] | Nicolet [Member] | Grass Technologies [Member] | Grass Technologies [Member] | Grass Technologies [Member] | Grass Technologies [Member] | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition date of entity | ' | ' | ' | ' | ' | 2-Jul-12 | ' | ' | ' | 2-Feb-13 | ' |
Purchase price paid in cash to acquire entity | ' | ' | ' | ' | ' | $55,500,000 | ' | ' | ' | $18,600,000 | ' |
Direct cost associated with entity acquisition | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | 624,000 | ' |
Preliminary purchase price adjustment | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 97,323,000 | ' | 97,323,000 | ' | 92,048,000 | ' | ' | 5,200,000 | 5,200,000 | 5,200,000 | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | 3,800,000 | 9,700,000 | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 2,100,000 | ' | ' |
Nicolet's minimum international business share | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' |
Net increase in goodwill | ' | ' | ' | ' | ' | 256,000 | ' | ' | ' | ' | ' |
Additional amortization of expense related to fair value identifiable intangible assets acquired | ' | ' | ' | ' | ' | ' | 564,636 | ' | ' | 59,300 | 535,000 |
Decrease in depreciation expense related to property and equipment acquired | ' | ' | ' | ' | ' | ' | 782,000 | ' | ' | 14,800 | 134,000 |
General and administrative | 14,323,000 | 18,811,000 | 40,160,000 | 39,206,000 | ' | ' | 3,300,000 | ' | ' | 624,000 | 624,000 |
Amortization of intangible assets acquired (Nicolet) | 2,065,000 | 2,469,000 | 6,122,000 | 6,208,000 | ' | ' | 423,000 | ' | ' | ' | ' |
Increase in cost of goods sold | ' | ' | ' | ' | ' | ' | $571,000 | ' | ' | ' | ' |
Business_Combinations_Unaudite
Business Combinations - Unaudited Pro forma Financial Information (Detail) (Grass and Nicolet [Member], USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Grass and Nicolet [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Revenue | $254,480 | $264,781 |
Income (loss) from operations | $21,603 | ($1,298) |
Basic_and_Diluted_Earnings_Per1
Basic and Diluted Earnings Per Common Share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Common stock equivalents shares included in weighted average shares outstanding used to calculate diluted earnings per share | 694,582 | 0 | 752,544 | 0 |
Common stock equivalents share options excluded in weighted average shares outstanding used to calculate diluted earnings per share | 1,657,210 | ' | 1,660,852 | ' |
Inventories_Summary_of_Invento
Inventories - Summary of Inventories (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials and subassemblies | $21,814 | $21,373 |
Work in process | 3,007 | 3,085 |
Finished goods | 19,409 | 19,795 |
Total inventories | 44,230 | 44,253 |
Less: Non-current inventories | -4,854 | -3,497 |
Inventories, current | $39,376 | $40,756 |
Inventories_Additional_Informa
Inventories - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Non-current inventories | ($4,854) | ($3,497) |
Intangible_Assets_Components_o
Intangible Assets - Components of Gross and Net Intangible Asset Balances (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $113,132 | $104,154 |
Accumulated Amortization | -41,280 | -35,158 |
Total expected amortization expense | 71,852 | 68,996 |
Intangibles Assets, Gross Carrying Amount | 144,938 | 133,068 |
Total intangible asset, Accumulated Impairment | -1,560 | -1,560 |
Total intangible assets, Accumulated Amortization | -41,002 | -34,914 |
Total intangibles assets | 102,377 | 96,594 |
Total Intangibles before translation [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 146,902 | 134,932 |
Accumulated Impairment | -1,560 | -1,560 |
Accumulated Amortization | -41,280 | -35,158 |
Net Book Value | 104,062 | 98,214 |
Tradenames [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 33,770 | 30,778 |
Accumulated Impairment | -1,560 | -1,560 |
Accumulated Amortization | ' | ' |
Net Book Value | 32,210 | 29,218 |
Translation [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | -1,964 | -1,864 |
Accumulated Impairment | ' | ' |
Accumulated Amortization | 278 | 244 |
Net Book Value | -1,687 | -1,620 |
Technology [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 66,380 | 63,880 |
Accumulated Amortization | -24,161 | -20,901 |
Total expected amortization expense | 42,219 | 42,979 |
Customer related [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 32,148 | 26,948 |
Accumulated Amortization | -9,563 | -7,563 |
Total expected amortization expense | 22,585 | 19,385 |
Internally developed software [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 11,068 | 9,790 |
Accumulated Amortization | -4,816 | -4,045 |
Total expected amortization expense | 6,252 | 5,745 |
Patents [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 2,812 | 2,812 |
Accumulated Amortization | -2,016 | -1,925 |
Total expected amortization expense | 796 | 887 |
Backlog [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 724 | 724 |
Accumulated Amortization | -724 | -724 |
Total expected amortization expense | ' | ' |
Intangible_Assets_Additional_I
Intangible Assets - Additional Information (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Technology [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Weighted average life of intangible assets | '15 years |
Customer related [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Weighted average life of intangible assets | '12 years |
Internally developed software [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Weighted average life of intangible assets | '7 years |
Costs incurred for development of internal use computer software | 10,100,000 |
Costs incurred for development of software to be sold | 943,000 |
Patents [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Weighted average life of intangible assets | '14 years |
Intangible_Assets_Amortization
Intangible Assets - Amortization Expense Related to Intangible Assets with Definite Lives (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Total amortization | $2,065,000 | $2,469,000 | $6,122,000 | $6,208,000 |
Technology [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Total amortization | 1,095,000 | 1,034,000 | 3,260,000 | 2,575,000 |
Customer related [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Total amortization | 678,000 | 595,000 | 2,000,000 | 1,491,000 |
Internally developed software [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Total amortization | 262,000 | 68,000 | 771,000 | 1,269,000 |
Patents [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Total amortization | 30,000 | 60,000 | 91,000 | 161,000 |
Backlog [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Total amortization | ' | $712,000 | ' | $712,000 |
Intangible_Assets_Expected_Amo
Intangible Assets - Expected Amortization Expense Related to Amortizable Intangible Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Three months ending December 31, 2013 | $2,032 | ' |
2014 | 7,922 | ' |
2015 | 7,581 | ' |
2016 | 6,747 | ' |
2017 | 6,364 | ' |
2018 | 6,193 | ' |
Thereafter | 35,013 | ' |
Total expected amortization expense | $71,852 | $68,996 |
Goodwill_Carrying_Amount_of_Go
Goodwill - Carrying Amount of Goodwill (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Gross Balance, December 31, 2012 | ' | $112,048 |
Accumulated impairment losses | ' | -20,000 |
Balance net of impairment losses, December 31, 2012 | 92,048 | ' |
Goodwill as a result of acquisitions | 5,607 | ' |
Foreign currency translation | -332 | ' |
Balance, September 30, 2013 | $97,323 | ' |
Property_and_Equipment_net_Pro
Property and Equipment, net - Property and Equipment Net (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | $52,780 | $52,463 |
Accumulated depreciation and amortization | -28,355 | -25,951 |
Total | 24,425 | 26,512 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 4,232 | 4,371 |
Buildings [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 10,737 | 11,422 |
Leasehold improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 3,376 | 3,450 |
Office furniture and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 12,182 | 11,601 |
Computer software and hardware [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 10,881 | 10,114 |
Demonstration and loaned equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | $11,372 | $11,505 |
Property_and_Equipment_net_Add
Property and Equipment, net - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Property Plant And Equipment [Abstract] | ' | ' | ' | ' |
Depreciation and amortization expense of property and equipment | $1.20 | $1 | $3.50 | $3.20 |
Reserve_for_Product_Warranties2
Reserve for Product Warranties - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Guarantees [Abstract] | ' |
Product warranty period | '1 year |
Reserve_for_Product_Warranties3
Reserve for Product Warranties - Reserve for Product Warranties (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Guarantees [Abstract] | ' | ' | ' | ' |
Balance, beginning of period | $2,070 | $2,225 | $2,260 | $2,157 |
Acquisition warranty assumed | ' | 630 | 191 | 630 |
Warranty accrued for the period | 47 | 129 | 818 | 540 |
Repairs for the period | -83 | -500 | -1,235 | -843 |
Balance, end of period | $2,034 | $2,484 | $2,034 | $2,484 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Number of Active Share Based Compensation Plans | 2 | ' |
Unrecognized compensation expense related to unvested portion of stock options | $14,800,000 | ' |
Weighted average period of recognition of unrecognized compensation expense | '2 years 10 months 24 days | ' |
Intrinsic value of options exercised | 3,400,000 | ' |
Restricted Stock Awards [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Weighted average period of recognition of unrecognized compensation expense | '2 years 10 months 24 days | '2 years 7 months 6 days |
Vesting percentage in second anniversary | 50.00% | ' |
Vesting percentage in third year anniversary | 25.00% | ' |
Vesting percentage in fourth year anniversary | 25.00% | ' |
Fair market value of unvested stock | 8,900,000 | 7,700,000 |
Restricted Stock Units [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Weighted average period of recognition of unrecognized compensation expense | '2 years 10 months 24 days | '2 years 9 months 18 days |
Vesting percentage in second anniversary | 50.00% | ' |
Vesting percentage in third year anniversary | 25.00% | ' |
Vesting percentage in fourth year anniversary | 25.00% | ' |
Aggregate intrinsic value of unvested stock | $781,000 | $559,000 |
ShareBased_Compensation_ShareB
Share-Based Compensation - Share-Based Compensation Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | $1,428 | $2,471 | $4,608 | $5,007 |
Cost of revenue [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | 14 | 49 | 109 | 161 |
Marketing and sales [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | 202 | 400 | 675 | 927 |
Research and development [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | 175 | 167 | 416 | 380 |
General and administrative [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | $1,037 | $1,855 | $3,408 | $3,539 |
ShareBased_Compensation_Stock_
Share-Based Compensation - Stock Options Activity (Detail) (USD $) | 9 Months Ended |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding [Roll Forward] | ' |
Outstanding, beginning of period, Shares | 3,882,239 |
Granted, Shares | 626,420 |
Exercised, Shares | -562,688 |
Cancelled, Shares | -642,243 |
Outstanding, end of period, Shares | 3,303,728 |
Exercisable, end of period, Shares | 2,198,970 |
Vested and expected to vest, end of period, Shares | 3,138,903 |
Outstanding, beginning of period, Weighted Average Exercise Price | $11.71 |
Granted, Weighted Average Exercise Price | $14.08 |
Exercised, Weighted Average Exercise Price | $8.09 |
Cancelled, Weighted Average Exercise Price | $15.52 |
Outstanding, end of period, Weighted Average Exercise Price | $12.03 |
Exercisable, end of period, Weighted Average Exercise Price | $11.38 |
Vested and expected to vest, end of period, Weighted Average Exercise Price | $11.97 |
Outstanding, end of period, Weighted-average remaining contractual life (years) | '4 years |
Exercisable, end of period, Weighted-average remaining contractual life (years) | '2 years 2 months 12 days |
Vested and expected to vest, end of period, Weighted-average remaining contractual life (years) | '3 years 9 months 18 days |
Outstanding, end of period, Aggregate intrinsic value | $10,059 |
Exercisable, end of period, Aggregate intrinsic value | 8,647 |
Vested and expected to vest, end of period, Aggregate intrinsic value | $9,859 |
ShareBased_Compensation_Restri
Share-Based Compensation - Restricted Stock Awards Activity (Detail) (Restricted Stock Awards [Member], USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Restricted Stock Awards [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unvested, beginning of period, Shares | 690,890 |
Granted, Shares | 311,180 |
Vested, Shares | -226,395 |
Forfeited, Shares | -150,020 |
Unvested, end of period, Shares | 625,655 |
Unvested, beginning of period, Weighted-average grant date fair value | $13.02 |
Granted, Weighted-average grant date fair value | $14.06 |
Vested, Weighted-average grant date fair value | $13.92 |
Forfeited, Weighted-average grant date fair value | $12.87 |
Unvested, end of period, Weighted-average grant date fair value | $13.27 |
Unvested, end of period, Remaining cost expected to be recognized | $9,200 |
ShareBased_Compensation_Restri1
Share-Based Compensation - Restricted Stock Units Activity (Detail) (Restricted Stock Units [Member], USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Restricted Stock Units [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unvested, beginning of period, Shares | 50,050 | ' |
Awarded, Shares | 30,890 | ' |
Released, Shares | -9,974 | ' |
Forfeited, Shares | -15,875 | ' |
Unvested, end of period, Shares | 55,091 | ' |
Ending outstanding balance, Weighted-average remaining contractual life (years) | '1 year 9 months 18 days | ' |
Ending outstanding balance, Aggregate intrinsic value | $781,000 | $559,000 |
Other_income_expense_net_Sched
Other income (expense), net - Schedule of Other Income (Expense), Net (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Investment income | $4 | $11 | $68 | $20 |
Interest expense | -138 | -215 | -1,084 | -231 |
Foreign currency exchange gain (loss) | -165 | 136 | -215 | 470 |
Other | -281 | -150 | -206 | ' |
Total other income (expense), net | ($580) | ($218) | ($1,437) | $259 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Provisions for income tax | $2,300,000 | ($3,000,000) | $5,000,000 | ($2,100,000) |
Effective tax rate | 26.50% | 63.50% | 26.50% | 65.20% |
Deduction benefited effective tax rate | ' | ' | 6.00% | ' |
Minimum [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Uncertain tax benefit | 0 | ' | 0 | ' |
Maximum [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Uncertain tax benefit | $600,000 | ' | $600,000 | ' |
U.S. States [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Open tax examination years | ' | ' | '2008 through 2012 | ' |
U.S. Federal [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Open tax examination years | ' | ' | '2010 through 2012 | ' |
Significant foreign jurisdictions [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Open tax examination years | ' | ' | '2009 through 2012 | ' |
Restructuring_Reserves_Detail_
Restructuring Reserves - Detail of Activity in Restructuring Reserve (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Restructuring Cost and Reserve [Line Items] | ' |
Beginning balance | $2,745 |
Expense - Severance | 2,413 |
Expense - Lease Termination | 571 |
Cash payments | -3,046 |
Accrual reversal | -1,368 |
Ending balance | 1,315 |
2011 Plans [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Beginning balance | 83 |
Expense - Severance | 4 |
Expense - Lease Termination | ' |
Cash payments | -71 |
Accrual reversal | -16 |
Ending balance | ' |
July 2012 Plan [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Beginning balance | 2,662 |
Expense - Severance | 211 |
Expense - Lease Termination | ' |
Cash payments | -1,350 |
Accrual reversal | -1,334 |
Ending balance | 189 |
2013 Plans [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Beginning balance | ' |
Expense - Severance | 2,198 |
Expense - Lease Termination | 571 |
Cash payments | -1,625 |
Accrual reversal | -18 |
Ending balance | $1,126 |
Debt_and_Credit_Arrangements_A
Debt and Credit Arrangements - Additional Information (Detail) (USD $) | 9 Months Ended | 6 Months Ended | 9 Months Ended | |||||
Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | |
Term loan [Member] | Term loan [Member] | Term loan [Member] | Nicolet acquisition [Member] | Revolving credit facility [Member] | Revolving credit facility [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving line of credit facility maximum borrowing capacity | $75,000,000 | $75,000,000 | $50,000,000 | ' | ' | $22,000,000 | ' | $25,000,000 |
Term loan expiration period | '5 years | ' | ' | ' | ' | ' | ' | ' |
Additional borrowings under Revolving line of credit facility | ' | ' | ' | ' | ' | ' | ' | 0 |
Extended term of revolving line of credit | ' | ' | ' | ' | ' | ' | '5 years | ' |
Amount of short-term credit facility converted in to a term loan | ' | ' | ' | ' | ' | ' | 31,200,000 | ' |
Term loan outstanding | ' | ' | ' | $50,000,000 | $18,800,000 | ' | ' | ' |
Debt_and_Credit_Arrangements_C
Debt and Credit Arrangements - Components of Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total | $48,063 | $21,560 |
Less current portion of long-term debt | -10,563 | -8,526 |
Long-term debt | 37,500 | 13,034 |
Term loan [Member] | Interest at LIBOR plus [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total | 47,500 | 20,834 |
Term loan [Member] | Interest at Cost of Funds Plus [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total | $563 | $726 |
Debt_and_Credit_Arrangements_C1
Debt and Credit Arrangements - Components of Long-Term Debt (Parenthetical) (Detail) (Term loan [Member]) | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Interest at LIBOR plus [Member] | Interest at Cost of Funds Plus [Member] | Interest at Cost of Funds Plus [Member] | |
USD ($) | USD ($) | CAD | |
Debt Instrument [Line Items] | ' | ' | ' |
Principal amount of debt | $50,000,000 | ' | 2,900,000 |
Basis spread interest rate | 1.75% | 2.50% | ' |
Maturity date of debt instrument | 30-Sep-18 | 15-Sep-14 | ' |
Periodic principal amount | 2,500,000 | 16,000 | ' |
Final payment, collateralized by a first lien on land and building | ' | $404,000 | ' |
Debt_and_Credit_Arrangements_M
Debt and Credit Arrangements - Maturities of Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Three months ended December 31, 2013 | $2,547 | ' |
2014 | 10,516 | ' |
2015 | 10,000 | ' |
2016 | 10,000 | ' |
2017 | 10,000 | ' |
2018 | 5,000 | ' |
Total | $48,063 | $21,560 |
Segment_Customer_and_Geographi2
Segment, Customer and Geographic Information - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Number of reportable segment | ' | ' | 1 | ' |
Revenue [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Percentage of revenue represented by major customers | 10.00% | 10.00% | 10.00% | 10.00% |
Segment_Customer_and_Geographi3
Segment, Customer and Geographic Information - Revenue and Long-Lived Asset Information by Geographic Region (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Consolidated Revenue: | ' | ' | ' | ' | ' |
Revenue | $85,392 | $81,019 | $253,475 | $201,459 | ' |
Revenue by End Market: | ' | ' | ' | ' | ' |
Total Revenue | 85,392 | 81,019 | 253,475 | 201,459 | ' |
Long-lived assets, net: | ' | ' | ' | ' | ' |
Long-lived assets | 24,425 | ' | 24,425 | ' | 26,512 |
Operating Segments [Member] | Neurology Products [Member] | ' | ' | ' | ' | ' |
Revenue by End Market: | ' | ' | ' | ' | ' |
Total Revenue | 55,353 | 50,511 | 163,837 | 108,879 | ' |
Operating Segments [Member] | Neurology Products [Member] | Devices and Systems [Member] | ' | ' | ' | ' | ' |
Revenue by End Market: | ' | ' | ' | ' | ' |
Total Revenue | 34,729 | 30,722 | 100,630 | 70,409 | ' |
Operating Segments [Member] | Neurology Products [Member] | Supplies [Member] | ' | ' | ' | ' | ' |
Revenue by End Market: | ' | ' | ' | ' | ' |
Total Revenue | 15,311 | 14,922 | 45,949 | 29,791 | ' |
Operating Segments [Member] | Neurology Products [Member] | Services [Member] | ' | ' | ' | ' | ' |
Revenue by End Market: | ' | ' | ' | ' | ' |
Total Revenue | 5,313 | 4,867 | 17,258 | 8,589 | ' |
Operating Segments [Member] | Newborn Care Products [Member] | ' | ' | ' | ' | ' |
Revenue by End Market: | ' | ' | ' | ' | ' |
Total Revenue | 30,039 | 30,508 | 89,638 | 92,670 | ' |
Operating Segments [Member] | Newborn Care Products [Member] | Devices and Systems [Member] | ' | ' | ' | ' | ' |
Revenue by End Market: | ' | ' | ' | ' | ' |
Total Revenue | 18,163 | 17,342 | 51,461 | 55,642 | ' |
Operating Segments [Member] | Newborn Care Products [Member] | Supplies [Member] | ' | ' | ' | ' | ' |
Revenue by End Market: | ' | ' | ' | ' | ' |
Total Revenue | 10,031 | 11,806 | 33,032 | 33,602 | ' |
Operating Segments [Member] | Newborn Care Products [Member] | Services [Member] | ' | ' | ' | ' | ' |
Revenue by End Market: | ' | ' | ' | ' | ' |
Total Revenue | 1,845 | 1,360 | 5,145 | 3,426 | ' |
United States [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' |
Consolidated Revenue: | ' | ' | ' | ' | ' |
Revenue | 51,412 | 48,003 | 147,702 | 112,540 | ' |
Long-lived assets, net: | ' | ' | ' | ' | ' |
Long-lived assets | 9,829 | ' | 9,829 | ' | 9,813 |
Foreign countries [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' |
Consolidated Revenue: | ' | ' | ' | ' | ' |
Revenue | 33,980 | 33,016 | 105,773 | 88,919 | ' |
Long-lived assets, net: | ' | ' | ' | ' | ' |
Long-lived assets | $14,596 | ' | $14,596 | ' | $16,699 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Value Measurements of Assets and Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Total assets and liabilities at fair value | $1,149 | $1,148 |
Bank money market investments [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Total assets and liabilities at fair value | 1,149 | 1,148 |
Level 1 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Total assets and liabilities at fair value | ' | ' |
Level 1 [Member] | Bank money market investments [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Total assets and liabilities at fair value | ' | ' |
Level 2 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Total assets and liabilities at fair value | 1,149 | 1,148 |
Level 2 [Member] | Bank money market investments [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Total assets and liabilities at fair value | 1,149 | 1,148 |
Level 3 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Total assets and liabilities at fair value | ' | ' |
Level 3 [Member] | Bank money market investments [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Total assets and liabilities at fair value | ' | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Fair Value Disclosures [Abstract] | ' | ' |
Impairment charges | $0 | $0 |
Immaterial_Corrections_to_Prio2
Immaterial Corrections to Prior Period Financial Statements - Summary of Effects of Correction of Errors on Consolidated Financial Statements (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Consolidated Statements of Operations and Comprehensive Income | ' | ' | ' | ' |
Revenue | $85,392 | $81,019 | $253,475 | $201,459 |
Cost of revenue | 34,058 | 36,456 | 104,518 | 89,237 |
Gross profit | 51,334 | 44,563 | 148,957 | 112,222 |
Income (loss) from operations | 9,138 | -4,566 | 20,155 | -3,521 |
Income (loss) before provision for income tax | 8,558 | -4,784 | 18,718 | -3,262 |
Net income (loss) | 6,287 | -1,747 | 13,749 | -1,134 |
Condensed Consolidated Statements of Cash Flows | ' | ' | ' | ' |
Net income (loss) | 6,287 | -1,747 | 13,749 | -1,134 |
Depreciation and amortization | ' | ' | 9,554 | 9,356 |
Change in operating assets and liabilities | ' | ' | ' | ' |
Inventories | ' | ' | 1,428 | -5,154 |
Deferred income tax | ' | ' | 1,176 | 7 |
Accrued liabilities and deferred revenue | ' | ' | -6,365 | 5,803 |
Net cash provided by operating activities | ' | ' | 20,715 | 17,038 |
Exchange rate changes effect on cash and cash equivalents | ' | ' | 497 | -88 |
Previously Reported [Member] | ' | ' | ' | ' |
Condensed Consolidated Statements of Operations and Comprehensive Income | ' | ' | ' | ' |
Revenue | ' | 80,724 | ' | 201,247 |
Cost of revenue | ' | 36,453 | ' | 89,266 |
Gross profit | ' | 44,271 | ' | 111,981 |
Income (loss) from operations | ' | -4,851 | ' | -3,885 |
Income (loss) before provision for income tax | ' | -5,079 | ' | -3,659 |
Net income (loss) | ' | -1,949 | ' | -1,146 |
Condensed Consolidated Statements of Cash Flows | ' | ' | ' | ' |
Net income (loss) | ' | -1,949 | ' | -1,146 |
Depreciation and amortization | ' | ' | ' | 9,532 |
Change in operating assets and liabilities | ' | ' | ' | ' |
Inventories | ' | ' | ' | 5,131 |
Deferred income tax | ' | ' | ' | -648 |
Accrued liabilities and deferred revenue | ' | ' | ' | 6,261 |
Net cash provided by operating activities | ' | ' | ' | 16,982 |
Exchange rate changes effect on cash and cash equivalents | ' | ' | ' | ($32) |