Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 28, 2014 | Jun. 28, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Entity Registrant Name | 'QUMU CORP | ' | ' |
Entity Central Index Key | '0000892482 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 8,675,472 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $70.50 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $37,725 | $28,644 |
Marketable securities | 13,233 | 21,496 |
Receivables, net of allowance | 12,236 | 13,055 |
Inventories | 4,102 | 6,036 |
Prepaid income taxes | 1,346 | 3,851 |
Prepaid expenses and other current assets | 2,907 | 2,628 |
Deferred income taxes - current | 200 | 240 |
Total current assets | 71,749 | 75,950 |
Property and equipment, net | 5,419 | 5,966 |
Intangible assets, net of amortization | 8,578 | 9,964 |
Deferred income taxes - non-current | 85 | 606 |
Other assets - non-current | 3,315 | 3,077 |
Total assets | 89,146 | 95,563 |
Current liabilities: | ' | ' |
Trade accounts payable | 5,282 | 5,192 |
Accrued compensation | 7,567 | 4,789 |
Other accrued expenses | 603 | 838 |
Deferred revenue | 9,550 | 8,941 |
Other current liabilities | 26 | 47 |
Total current liabilities | 23,028 | 19,807 |
Long-term liabilities: | ' | ' |
Deferred revenue - non-current | 2,902 | 4,374 |
Income taxes payable - non-current | 116 | 95 |
Other non-current liabilities | 519 | 660 |
Total long-term liabilities | 3,537 | 5,129 |
Total liabilities | 26,565 | 24,936 |
Commitments and contingencies (Note 12 and 17) | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $.01 par value, authorized 250,000 shares, no shares issued and outstanding | 0 | 0 |
Common stock, $.01 par value, authorized 29,750,000 shares, issued and outstanding 8,674,029 and 8,653,932, respectively | 87 | 87 |
Additional paid-in capital | 58,411 | 56,706 |
Retained earnings | 3,921 | 13,615 |
Accumulated other comprehensive income | 162 | 116 |
Total Qumu stockholders' equity | 62,581 | 70,524 |
Noncontrolling interest | 0 | 103 |
Total stockholders' equity | 62,581 | 70,627 |
Total liabilities and stockholders' equity | $89,146 | $95,563 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 250,000 | 250,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 29,750,000 | 29,750,000 |
Common stock, shares issued | 8,674,029 | 8,653,932 |
Common stock, shares outstanding | 8,674,029 | 8,653,932 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Revenues: | ' | ' | ' | |||
Product | $59,534 | $61,918 | $71,155 | |||
Service | 22,938 | 17,525 | 12,479 | |||
Total revenues | 82,472 | 79,443 | 83,634 | |||
Cost of revenues: | ' | ' | ' | |||
Product | 30,421 | 31,793 | 34,767 | |||
Service | 12,491 | 8,989 | 6,846 | |||
Total cost of revenues | 42,912 | 40,782 | 41,613 | |||
Gross profit | 39,560 | 38,661 | 42,021 | |||
Operating expenses: | ' | ' | ' | |||
Research and development | 12,203 | 11,866 | 7,257 | |||
Selling, general and administrative | 36,414 | 36,039 | 30,093 | |||
Goodwill and intangible assets impairment charge | 0 | 29,548 | 0 | |||
Amortization of intangible assets | 628 | 952 | 223 | |||
Total operating expenses | 49,245 | 78,405 | 37,573 | |||
Operating income (loss) | -9,685 | [1] | -39,744 | [1],[2] | 4,448 | [1],[3] |
Other income (expense): | ' | ' | ' | |||
Interest, net | 28 | 75 | 195 | |||
Gain (loss) on currency exchange | -225 | -145 | 17 | |||
Other, net | 4 | 26 | 9 | |||
Total other income (expense), net | -193 | -44 | 221 | |||
Income (loss) before income taxes | -9,878 | -39,788 | 4,669 | |||
Income tax expense (benefit) | -59 | 8,809 | 1,997 | |||
Net Income (loss) | -9,819 | -48,597 | 2,672 | |||
Net loss attributable to the noncontrolling interest | 125 | 259 | 163 | |||
Net income (loss) attributable to Qumu | ($9,694) | ($48,338) | $2,835 | |||
Net income (loss) per basic share | ($1.12) | ($4.85) | $0.29 | |||
Net income (loss) per diluted share | ($1.12) | ($4.85) | $0.29 | |||
Basic weighted average shares outstanding | 8,691 | 9,971 | 9,674 | |||
Diluted weighted average shares outstanding | 8,691 | 9,971 | 9,699 | |||
[1] | Operating loss for the enterprise video content management software segment in 2013, 2012 and 2011 includes amortization expense of $1.2 million, $1.7 million and $0.4 million respectively, for amortization of intangible assets established as part of the acquisition of Qumu, Inc. | |||||
[2] | Operating loss for the enterprise video content management software segment includes recognized asset impairment charges consisting of $22.2 million of goodwill and $7.3 million of other intangible assets for 2012. See Note 8, bGoodwill and Intangible Assets,b for additional information regarding the Companybs intangible assets. | |||||
[3] | Operating income for the disc publishing segment in 2011 includes $1.7 million of nonrecurring transaction costs associated with the acquisition of Qumu, Inc. |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income (loss) | ($9,819) | ($48,597) | $2,672 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation adjustments | 66 | -12 | -106 |
Change in net unrealized loss on marketable securities, net of tax | -19 | 0 | -83 |
Total other comprehensive income (loss) | 47 | -12 | -189 |
Total comprehensive income (loss) | -9,772 | -48,609 | 2,483 |
Net loss attributable to noncontrolling interest | -125 | -259 | -163 |
Foreign currency translation adjustments attributable to the noncontrolling interest | 1 | 2 | 17 |
Comprehensive loss attributable to the noncontrolling interest | -124 | -257 | -146 |
Comprehensive income (loss) attributable to Qumu | ($9,648) | ($48,352) | $2,629 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interest |
In Thousands, unless otherwise specified | ||||||
Total stockholders' equity at beginning of period at Dec. 31, 2010 | $128,637 | $95 | $43,062 | $84,657 | $317 | $506 |
Shares outstanding at beginning of period (in share) at Dec. 31, 2010 | ' | 9,480 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income (loss) | 2,672 | ' | ' | 2,835 | ' | -163 |
Other comprehensive income (loss), net of taxes | -172 | ' | ' | ' | -189 | 17 |
Stock issued for employee stock plans (in share) | ' | 37 | ' | ' | ' | ' |
Stock issued for employee stock plans | 278 | 0 | 278 | ' | ' | ' |
Issuance of restricted stock (in share) | ' | 146 | ' | ' | ' | ' |
Issuance of restricted stock | 0 | 1 | -1 | ' | ' | ' |
Stock issued in acquisition (in share) | ' | 1,000 | ' | ' | ' | ' |
Stock issued in acquisition | 9,544 | 10 | 9,534 | ' | ' | 0 |
Net tax benefit relating to exercise of stock options | -19 | ' | -19 | ' | ' | ' |
Stock-based compensation | 1,981 | ' | 1,981 | ' | ' | ' |
Cash dividends | -4,595 | ' | ' | -4,595 | ' | ' |
Repurchase of common stock (in share) | -459 | -459 | ' | ' | ' | ' |
Repurchase of common stock | -6,026 | -4 | ' | -6,022 | ' | ' |
Total stockholders' equity at end of period at Dec. 31, 2011 | 132,300 | 102 | 54,835 | 76,875 | 128 | 360 |
Shares outstanding at end of period (in share) at Dec. 31, 2011 | 10,204 | 10,204 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income (loss) | -48,597 | ' | ' | -48,338 | ' | -259 |
Other comprehensive income (loss), net of taxes | -10 | ' | ' | ' | -12 | 2 |
Issuance of restricted stock (in share) | ' | 24 | ' | ' | ' | ' |
Issuance of restricted stock | 0 | 0 | 0 | ' | ' | ' |
Redemption of stock to cover tax withholding for employee stock plans | ' | -5 | ' | ' | ' | ' |
Redemption of stock to cover tax withholding for employee stock plans | -39 | ' | -39 | ' | ' | ' |
Net tax benefit relating to exercise of stock options | -214 | ' | -214 | ' | ' | ' |
Stock-based compensation | 2,124 | ' | 2,124 | ' | ' | ' |
Cash dividends | -5,180 | ' | ' | -5,180 | ' | ' |
Repurchase of common stock (in share) | -1,569 | -1,569 | ' | ' | ' | ' |
Repurchase of common stock | -9,757 | -15 | ' | -9,742 | ' | ' |
Total stockholders' equity at end of period at Dec. 31, 2012 | 70,627 | 87 | 56,706 | 13,615 | 116 | 103 |
Shares outstanding at end of period (in share) at Dec. 31, 2012 | 8,654 | 8,654 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income (loss) | -9,819 | ' | ' | -9,694 | ' | -125 |
Other comprehensive income (loss), net of taxes | 47 | ' | ' | ' | 46 | 1 |
Stock issued for employee stock plans (in share) | ' | 1 | ' | ' | ' | ' |
Stock issued for employee stock plans | 7 | ' | 7 | ' | ' | ' |
Issuance of restricted stock (in share) | ' | 26 | ' | ' | ' | ' |
Issuance of restricted stock | 0 | 0 | 0 | ' | ' | ' |
Redemption of stock to cover tax withholding for employee stock plans | ' | -7 | ' | ' | ' | ' |
Redemption of stock to cover tax withholding for employee stock plans | -66 | 0 | -66 | ' | ' | ' |
Net tax benefit relating to exercise of stock options | -13 | ' | -13 | ' | ' | ' |
Stock-based compensation | 1,778 | ' | 1,778 | ' | ' | ' |
Cash dividends | 0 | ' | ' | 0 | ' | ' |
Repurchase of common stock (in share) | 0 | 0 | ' | ' | ' | ' |
Repurchase of common stock | 0 | 0 | ' | 0 | ' | ' |
Purchase of noncontrolling interest in consolidated subsidiary | 20 | ' | -1 | ' | ' | 21 |
Total stockholders' equity at end of period at Dec. 31, 2013 | $62,581 | $87 | $58,411 | $3,921 | $162 | $0 |
Shares outstanding at end of period (in share) at Dec. 31, 2013 | 8,674 | 8,674 | ' | ' | ' | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from (used in) operating activities: | ' | ' | ' |
Net income (loss) | ($9,819) | ($48,597) | $2,672 |
Adjustments to reconcile net income (loss) to net cash | ' | ' | ' |
Goodwill and intangible assets impairment charge | 0 | 29,548 | 0 |
Depreciation and amortization | 3,028 | 4,332 | 2,937 |
Deferred income tax expense (benefit) | 570 | 7,899 | -2,096 |
Loss on disposal of property and equipment | 35 | 47 | 34 |
Stock-based compensation | 1,778 | 2,124 | 1,980 |
Excess tax benefits from stock-based compensation | 0 | 0 | -13 |
Changes in operating assets and liabilities: | ' | ' | ' |
Receivables | 2,510 | 2,631 | 2,372 |
Inventories | 1,906 | 143 | -1,545 |
Prepaid income taxes / income taxes payable | 2,513 | 475 | -1,246 |
Prepaid expenses and other current assets | -157 | -508 | -296 |
Trade accounts payable | 131 | -214 | -1,414 |
Accrued compensation | 2,572 | -276 | 114 |
Other accrued expenses and other current liabilities | -34 | -238 | -155 |
Deferred revenue | -2,545 | 69 | 3,720 |
Other non-current liabilities | -121 | 640 | 0 |
Net cash provided by (used in) operating activities | 2,367 | -1,925 | 7,064 |
Cash flows from (used in) investing activities: | ' | ' | ' |
Cash paid for acquisition of business, net of cash acquired | 0 | 0 | -39,379 |
Purchase of cost method investment | -350 | 0 | -2,000 |
Purchases of marketable securities | -28,755 | -54,491 | 0 |
Maturities of marketable securities | 37,000 | 18,000 | 8,585 |
Sales of marketable securities | 0 | 14,999 | 0 |
Issuances of notes receivable | 0 | -500 | -500 |
Purchases of property and equipment | -970 | -2,521 | -1,177 |
Proceeds from Sale of Property and Equipment | 1 | 0 | 0 |
Net cash provided by (used in) investing activities | 6,926 | -24,513 | -34,471 |
Cash flows from (used in) financing activities: | ' | ' | ' |
Repurchases of common stock | 0 | -9,758 | -6,028 |
Common stock repurchases to settle employee withholding liability | -66 | -39 | 0 |
Payment of dividends | 0 | -5,180 | -4,595 |
Principal payments on capital lease obligations | -20 | -21 | -20 |
Excess tax benefits from stock-based compensation | 0 | 0 | 13 |
Proceeds from employee stock plans | 7 | 0 | 279 |
Purchase of noncontrolling interest in consolidated subsidiary | -50 | 0 | 0 |
Net cash used in financing activities | -129 | -14,998 | -10,351 |
Effect of exchange rate changes on cash | -83 | -81 | -63 |
Net increase (decrease) in cash and cash equivalents | 9,081 | -41,517 | -37,821 |
Cash and cash equivalents, beginning of period | 28,644 | 70,161 | 107,982 |
Cash and cash equivalents, end of period | 37,725 | 28,644 | 70,161 |
Supplemental disclosures of net cash paid (received) during the period for: | ' | ' | ' |
Income taxes | -3,243 | -218 | 5,412 |
Non-cash investing and financing activities: | ' | ' | ' |
Stock issued for acquisition of business | $0 | $0 | $9,544 |
Nature_Of_Business_And_Summary
Nature Of Business And Summary Of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Nature of Business and Summary of Significant Accounting Policies | ' | ||||||||||||||||||||
Nature of Business and Summary of Significant Accounting Policies | |||||||||||||||||||||
Basis of Presentation and Nature of Business | |||||||||||||||||||||
In September 2013, the Board of Directors of Rimage Corporation approved a change in the Company's name from Rimage Corporation to Qumu Corporation (Nasdaq: QUMU). The name change became effective on September 16, 2013. | |||||||||||||||||||||
The consolidated financial statements include the accounts of Qumu Corporation, its subsidiaries, and prior to July 2013, its majority-owned joint venture, collectively hereinafter referred to as “Qumu” or the “Company.” All references to Qumu, Inc. shall mean the Company's subsidiary located in San Bruno, California. All intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||||||||||||
Qumu’s enterprise video content management software business provides the tools businesses need to create, manage, secure, distribute and measure the success of their videos and other rich content they create and publish. Qumu’s disc publishing business provides customers with industry-leading solutions that label, archive, distribute and protect content on CDs, DVDs and Blu-ray Discs. The Company markets its products to customers in North America, Europe and Asia. | |||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||
Through the third quarter of 2011, the Company earned revenues through the sale of tangible products, consisting primarily of equipment and consumables. As part of its product offering, the Company also sells optional services, consisting primarily of separately-priced maintenance contracts and installation services. Beginning with the acquisition of Qumu, Inc. in October 2011, the Company also earns revenues through the sale of software and software-based solutions. Software sales may take the form of a software license, a software license on a server appliance or a cloud-hosted software service. The Company also sells software-enabled devices, software maintenance support contracts and professional and managed services as part of the enterprise video content management software product offering. | |||||||||||||||||||||
The following minimum criteria must be satisfied to enable revenue recognition for the Company's products and services: | |||||||||||||||||||||
• | Persuasive evidence of an arrangement exists. Customer orders are received for all sales, either through non-cancelable contracts or purchase orders, and sales invoices are sent upon delivery of the product. | ||||||||||||||||||||
• | Delivery has occurred. Product has been transferred to the customer or the customer's designated delivery agent, at which time risk of loss transfers. In the case of licensed software, delivery occurs upon providing the customer access to the software by electronic download. | ||||||||||||||||||||
• | The sales price is fixed or determinable. All sales prices are fixed at the time of the sale. | ||||||||||||||||||||
• | Collectability is reasonably assured. All sales are made on the basis that collection is expected in line with the Company's payment terms as outlined in the non-cancelable purchase order or contract, and such terms are consistent with industry practice in the geographies in which the Company markets its products. | ||||||||||||||||||||
The following provides additional information regarding the Company's revenue recognition policies by business segment. | |||||||||||||||||||||
Enterprise Video Content Management Software Revenue | |||||||||||||||||||||
Revenue generated by the enterprise video content management software business includes the sale of software licenses, software licensed on a server appliance and software-enabled devices sold through non-cancelable licensing agreements under either perpetual or subscription arrangements. These arrangements most often include maintenance support and may also include professional services or managed services. The enterprise video content management software business also generates revenues through the sale of cloud-hosted software services, delivered as a Software-as-a-Service (SaaS) platform. | |||||||||||||||||||||
For arrangements that include both software-related and non-software-related elements, the Company allocates revenue to the software deliverables and non-software deliverables based on relative selling price. In such circumstances, the accounting principles establish a hierarchy to determine the selling price to be used for allocating revenue to deliverables as follows: a) vendor-specific objective evidence (VSOE) of selling price, b) third-party evidence of selling price and c) best estimate of selling price (estimated selling price). When the Company is unable to establish a selling price using VSOE or third party evidence, it uses the estimated selling price to allocate the arrangement fees to the deliverables. Revenue for non-software elements is generally determined based on third party evidence of selling price or estimated selling price and is recognized upon delivery, to the extent all other criteria required for revenue recognition have been met. Revenue for software-related elements is recognized as described below. | |||||||||||||||||||||
For software-related elements included in sales arrangements, the Company utilizes the residual method to recognize revenue. Under the residual method, revenue is recognized in a multiple-element arrangement in which VSOE of fair value exists for all of the undelivered elements in the arrangement, but does not exist for one or more of the delivered elements in the arrangement. The Company has determined that it has VSOE for its maintenance support as well as its professional services. The Company has established VSOE for the fair value of the maintenance contracts based on the price charged when the element is sold separately. The fair value of the professional services can generally be established based on the rates charged for those services when sold separately. If evidence of fair value cannot be established for any undelivered elements of a license agreement, the entire amount of revenue from the arrangement is deferred until evidence of fair value can be established, or until the items are delivered. If the only undelivered element is maintenance, then the entire amount of revenue is recognized over the maintenance delivery period. | |||||||||||||||||||||
Revenue from maintenance contracts providing technical support and software update and upgrade rights is recognized ratably over the term of the maintenance contracts. Since the Company is generally able to determine VSOE for the professional service revenues and these services are not essential to the functionality of the software, revenue from such services is recognized as the services are performed. | |||||||||||||||||||||
When VSOE has been established for all undelivered elements, revenue from software sold under a perpetual license is recognized when an agreement has been signed, delivery of the product has occurred, the fee is fixed or determinable, collectability is probable, and the arrangement does not require undelivered services that are essential to the functionality of the software. | |||||||||||||||||||||
The Company also sells the software licenses and bundled maintenance under a subscription arrangement. In these arrangements, the software is installed on an appliance that is housed on the customer's premises. Subscription arrangements typically have contractual terms of one year or longer and associated revenue is generally recognized ratably over the contract term beginning on the commencement date of the contract to the extent all other criteria required for revenue recognition have been met. | |||||||||||||||||||||
In 2013, the Company began selling its software licenses and bundled maintenance as part of cloud-hosted or hybrid-cloud environments under subscription arrangements, which typically have non-cancelable contractual terms of one-year or more. Due to timing of introduction, revenues in 2013 from cloud-hosted arrangements were limited. Cloud-hosted arrangements are delivered as a SaaS platform, offering a fully managed virtual solution which consists of a cloud-based instance of the Qumu Video Control Center and other software. Hybrid-cloud arrangements augment the cloud instance of the software with Qumu VideoNet Edge devices installed on the customer's premises, which enables quality streaming to audiences inside and outside corporate firewalls from the Cloud. The Company’s cloud-hosted arrangements provide customers the right to access its hosted software applications; however, customers do not have the contractual right or ability to take possession of the Company’s software during the hosted arrangement. Revenues in 2013 from cloud-hosted arrangements were derived primarily from two sources: (1) the subscription for the SaaS technology and (2) optional professional services, which provide follow-on best practices consulting and training services after the cloud-hosted solution is deployed. | |||||||||||||||||||||
The Company generally recognizes revenue for cloud-hosted and hybrid-cloud arrangements ratably over the noncancelable term of the agreement, commencing upon the later of when the application is placed into a production environment or when all revenue recognition criteria have been met. Professional services revenue associated with cloud-hosted arrangements is recognized as the services are performed. Fees for the set-up of the cloud-hosted environment, if applicable, are recognized over the contractual term of the arrangement as it is not practical at this early stage of the product offering to estimate the life of the customer relationship. | |||||||||||||||||||||
Disc Publishing Revenue | |||||||||||||||||||||
Revenue for product sales (including equipment and consumables), which do not include any requirement for installation or training, is recognized on shipment or delivery, to the extent all other criteria required for revenue recognition have been met. | |||||||||||||||||||||
Revenue for separately-priced maintenance contracts and installation services associated with the Company's disc publishing products is deferred until earned. A standard product sale by the Company does not require a commitment on the Company's part to provide installation, set-up or training. When such services are requested, value-added resellers generally arrange and perform the service directly with the customer, with no financial interest or obligation on the part of the Company. In the situations in which the Company does provide installation or training services for customers, the Company charges separately for the service based upon its published list prices and recognizes the associated service revenue upon the successful completion of the service. | |||||||||||||||||||||
In an arrangement including disc publishing equipment, separately-priced maintenance and installation services, the amount deferred and recognized as revenue over the contract period for a separately-priced maintenance contract is the stated amount of the contract. The remaining consideration is allocated to the equipment and the installation service using the relative selling price method. The relative selling price is determined based on the Company's stand-alone selling prices, or in the absence of stand-alone selling prices, estimated selling price for the equipment and installation service. | |||||||||||||||||||||
A limited number of multiple-element sales arrangements targeted for the law enforcement sector of the Company's disc publishing business include both software-related and non-software elements. For these transactions, arrangement consideration is allocated between the software-related and non-software elements based on relative selling price. As the Company has not established VSOE for the software maintenance element of such arrangements, revenue associated with the software-related elements, e.g., software and associated maintenance support, is deferred and recognized over the term of the maintenance agreement. Revenue for the non-software elements is determined based on estimated selling price and recognized upon delivery, to the extent all other criteria required for revenue recognition have been met. | |||||||||||||||||||||
Sales Returns | |||||||||||||||||||||
The Company records an allowance for sales returns of its disc publishing products. The amount of the allowance is based upon historical trends, timing of new product introductions and other factors. The Company does not generally accept returns of its enterprise video content management software products. | |||||||||||||||||||||
Allowance for Doubtful Accounts | |||||||||||||||||||||
The Company records an allowance for doubtful accounts for potentially uncollectible receivables. The allowance is established based on a specific assessment of accounts with known collection exposure, based upon a review of the age of the receivable, the customer’s payment history, the customer’s financial condition and industry and general economic conditions, as well as a general assessment of collection exposure in the remaining receivable population based upon the Company’s bad debt history. Actual bad debt exposure could differ significantly from management’s estimates if economic conditions worsened for the Company’s customers. The uncollectible portion of receivables is charged against the allowance for doubtful accounts when collection efforts have ceased. Recoveries of receivables previously charged-off are recorded when received. | |||||||||||||||||||||
Deferred Commissions | |||||||||||||||||||||
Sales commissions represent the direct incremental costs related to the acquisition of a sales contract that would not have been incurred but for the acquisition of that contract. The Company recognizes commissions as selling, general and administrative expense at the time the associated product revenue is recognized, requiring establishment of a deferred cost in the event a commission is paid prior to recognition of revenue. In the case of a term, cloud-hosted or subscription arrangement where revenue is recognized over the term of the contract, the associated deferred commission is amortized to expense over the non-cancelable term of the arrangement. The deferred commission amounts are recoverable through the related future revenue streams under non-cancelable customer contracts and also commission clawback provisions in the Company's sales compensation plans for its enterprise video content management software business. The Company believes this is the preferable method of accounting as the commission costs are so closely related to the revenue from the customer contracts that they should be expensed over the same period that the related revenue is recognized. The Company recorded deferred commission costs of $0.3 million and $0.2 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
Cash Equivalents | |||||||||||||||||||||
All short-term investments with original maturities of three months or less at date of purchase are considered cash equivalents. | |||||||||||||||||||||
Marketable Securities | |||||||||||||||||||||
Marketable securities generally consist of U.S. treasury bills and certificates of deposit. Marketable securities are classified as short-term in the accompanying Consolidated Balance Sheets based on their effective maturity date. All marketable securities have original maturities ranging from three to twelve months. Marketable securities are classified as available-for-sale. Available-for-sale securities are recorded at fair value and any unrealized holding gains and losses, net of the related tax effect, are excluded from earnings and are reported as a separate component of accumulated other comprehensive income (loss) until realized. See Note 5, “Fair Value Measurements,” for a discussion of inputs used to measure the fair value of the Company’s available-for-sale securities. | |||||||||||||||||||||
Sources of Supply | |||||||||||||||||||||
The Company outsources to third parties the assembly and design of certain appliances for its enterprise video content management software business, including its VideoNet Edge server and Qumu Capture Studio. Alternative supply sources are available for these products; however, a transition period would be required to secure such alternative sources. | |||||||||||||||||||||
Many of the purchased components used to assemble the Company’s disc publishing products are standard parts and are readily available. Other components and subassemblies are manufactured to the Company’s specifications. For the majority of the Company’s critical disc publishing components, the Company has identified alternative suppliers. The Company depends upon a single-source supplier for its Everest printers and Rimage Disc Publishing Professional Series systems, which are a significant source of the Company’s sales. For these products, it is more difficult to identify an alternative supplier because of the proprietary information and technology currently held by this supplier. Although the Company owns the rights to the technology, if the Company were unable to effectively transition the technology and proprietary information used by this supplier to alternative suppliers, the design and manufacture of these products to the Company’s specifications may be significantly delayed, resulting in potential production delays and significant expense. Further, if the Company obtains a new supplier for a component or product or uses an alternative component in its product, the Company may need to conduct additional testing of its products to ensure the product meets its quality and performance standards. Any delays in delivery of its product to end-users, resellers or distributors could be extended, and costs associated with the change in product manufacturing could increase. | |||||||||||||||||||||
Inventories | |||||||||||||||||||||
Inventories are stated at the lower of cost or market. Cost is determined on a first-in, first-out (FIFO) basis. The Company records provisions for inventory shrinkage and for potential excess, obsolete and slow moving inventory. The amounts of these provisions are based upon usage, historical loss trends, inventory levels, expected product lives and forecasted sales demand. Results could be materially different if demand for the Company’s products decreased because of economic or competitive conditions, or if products became obsolete because of technical advancements in the industry or by the Company. | |||||||||||||||||||||
Property and Equipment | |||||||||||||||||||||
Property and equipment are stated at cost and depreciated on a straight-line basis over estimated useful lives ranging from two to seven years for most assets, and 15 years for the Company’s headquarters facility purchased in September 2008. Leasehold improvements are amortized using the straight-line method over the shorter of the property’s useful life or the term of the underlying lease. Repairs and maintenance costs are charged to operations as incurred. | |||||||||||||||||||||
Goodwill and Other Intangible Assets | |||||||||||||||||||||
Intangible assets acquired include both those that have a determinable life and residual goodwill. Intangible assets with a determinable life include trade names, developed technology, in-process research and development, customer relationships and software with estimates of recoverability ranging from 5 to 15 years that are amortized on a straight-line basis. The Company assesses intangible assets with a determinable life for impairment consistent with its policy for assessing other long-lived assets. | |||||||||||||||||||||
The Company's policy is to test goodwill for impairment annually during its fourth quarter or more frequently if changes in circumstances or the occurrence of events suggest impairment exists. See Note 8, "Goodwill and Intangible Assets" for a rollforward of the carrying value of goodwill and intangible assets and further discussion of the goodwill and intangible asset impairments recorded during the three months ended September 30, 2012. The goodwill impairment charge resulted in a full retirement of the value of this asset as of September 30, 2012. | |||||||||||||||||||||
Impairment of Long-lived Assets | |||||||||||||||||||||
Long-lived assets at December 31, 2013 consisted of property and equipment, including capitalized internally developed software costs; acquired intangible assets; and software source code. The Company reviews the carrying amount of its long-lived assets when events or changes in circumstances such as market value, asset utilization, physical change, legal factors or other matters indicate that the carrying amount of the assets may not be recoverable. When this review indicates the carrying amount of an asset or asset group exceeds the sum of the future undiscounted cash flows expected to be generated by the assets, the Company recognizes an asset impairment charge against operations for the amount by which the carrying amount of the impaired asset exceeds its fair value. Considerable judgment is required in the evaluation of whether certain events or circumstances lead to an indication of impairment, and in the assumptions used in determining the amount and period over which future revenues are expected to be earned, related costs, terminal values and discount rates. | |||||||||||||||||||||
Investment in Nonconsolidated Company | |||||||||||||||||||||
The Company holds a long-term, strategic investment in BriefCam, a software company. The Company accounts for this investment under the cost method of accounting. This investment is included in other non-current assets in the Consolidated Balance Sheets. See Note 16 under the Notes to Consolidated Financial Statements in this Form 10-K for additional information on the Company's investment in BriefCam. Equity securities accounted for under the cost method are reviewed quarterly for changes in circumstances or the occurrence of events that suggest the Company’s investment may not be fully recoverable. If an unrealized loss for the investment is considered to be other-than-temporary, the loss will be recognized in the Consolidated Statements of Operations in the period the determination is made. | |||||||||||||||||||||
Product Warranty | |||||||||||||||||||||
The Company’s non-consumable hardware products are warranted to the end-user to ensure confidence in design, workmanship and overall quality for a period of 12 months. Warranty covers parts, labor and other associated expenses. The Company performs the majority of warranty work, while authorized distributors and dealers also perform some warranty work. Warranty expense is accrued during the warranty period based on an analysis of historical claims experience, which includes labor, freight and parts costs, with consideration of the proportion of parts that can be re-used. | |||||||||||||||||||||
The warranty accrual rollforward, including provisions and claims, is as follows (in thousands): | |||||||||||||||||||||
Years Ended: | Beginning | Warranty | Warranty | Foreign | Ending | ||||||||||||||||
Balance | Provisions | Claims | Exchange Impact | Balance | |||||||||||||||||
December 31, 2013 | $ | 239 | $ | 237 | $ | (283 | ) | $ | (4 | ) | $ | 189 | |||||||||
December 31, 2012 | 296 | 409 | (463 | ) | (3 | ) | 239 | ||||||||||||||
December 31, 2011 | 231 | 630 | (565 | ) | — | 296 | |||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||
The Company measures the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant. The cost is recognized on a straight-line basis over the period during which an employee is required to provide services in exchange for the entire award. The benefits of tax deductions in excess of recognized compensation expense is reported as a financing cash flow. The Company issues new shares of its common stock to satisfy employee equity awards. | |||||||||||||||||||||
The Company recognizes stock-based compensation on a straight-line basis over the vesting period and net of an estimated forfeiture rate, resulting in the recognition of compensation cost for only those shares expected to vest. Compensation cost is recognized for all awards over the vesting period to the extent the employees or directors meet the requisite service requirements, whether or not the award is ultimately exercised. Conversely, when an employee or director does not meet the requisite service requirements and forfeits the award prior to vesting, any compensation expense previously recognized for the award is reversed. See Note 3, "Stock-Based Compensation" for additional information on stock-based compensation. | |||||||||||||||||||||
Research and Development Costs | |||||||||||||||||||||
Research and development costs relate to hardware and software development and enhancements to existing products. The Company expenses research and development costs, including costs to develop software products to be marketed to external users, before technological feasibility of such products is reached. The Company believes its software development process is essentially completed concurrent with the establishment of technological feasibility; accordingly, development costs are expensed as incurred. | |||||||||||||||||||||
Income Taxes | |||||||||||||||||||||
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided to offset deferred tax assets if, based on the available evidence, it is more likely than not that some or all of the deferred tax asset will not be realized. | |||||||||||||||||||||
Net Income (Loss) Per Share | |||||||||||||||||||||
Basic net income (loss) per share is calculated as income (loss) available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per share includes the potentially dilutive effect of common shares issued in connection with outstanding stock options using the treasury stock method and the dilutive effect of restricted stock units. | |||||||||||||||||||||
The Company calculates net income (loss) per share pursuant to the two-class method which requires all outstanding unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) to be considered participating securities and included in the computation of basic and diluted earnings per share using the two-class method. | |||||||||||||||||||||
Foreign Currency Translation | |||||||||||||||||||||
The functional currency for each of the Company’s international subsidiaries is the respective local currency. The assets and liabilities of the Company’s international entities are translated into U.S. dollars using period-end exchange rates, while revenues and expenses are translated at average exchange rates prevailing during the year. The resulting translation adjustments are recorded as a separate component of stockholders’ equity in accumulated other comprehensive income (loss). The Company recorded gains (losses) on foreign currency translation in comprehensive income (loss) of $67,000, ($10,000) and ($89,000) for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||
Comprehensive Income (Loss) | |||||||||||||||||||||
Comprehensive income (loss) consists of the Company’s net income (loss), foreign currency translation adjustments, and unrealized holding gains and losses from available-for-sale marketable securities and is presented separately in the Consolidated Statements of Comprehensive Income (Loss). | |||||||||||||||||||||
Operating Leases | |||||||||||||||||||||
The Company leases certain facilities and some of its equipment under non-cancelable operating lease arrangements. The rental payments under these leases are charged to expense on a straight-line basis over the non-cancelable term of the lease. | |||||||||||||||||||||
Taxes Collected From Customers | |||||||||||||||||||||
Sales taxes charged to and collected from customers as part of the Company’s sales transactions are excluded from revenues and recorded as a liability to the applicable governmental taxing authority. | |||||||||||||||||||||
Shipping and Handling Charges and Related Costs | |||||||||||||||||||||
Shipping and handling charges collected from customers as part of the Company's sales transactions are included in revenues and the associated costs are included in cost of revenues in the accompanying Consolidated Statements of Operations. | |||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from estimates on items such as allowance for doubtful accounts and sales returns, inventory provisions, asset impairment charges, deferred tax asset valuation allowances, accruals for uncertain tax positions and warranty accruals. These estimates and assumptions are based on management’s best judgment. Management evaluates estimates and assumptions on an ongoing basis using its technical knowledge, historical experience and other factors, including consideration of the impact of the current economic environment. Management believes its assumptions are reasonable and adjusts such estimates and assumptions when facts and circumstances change. Illiquid credit markets, volatile equity, foreign currency and energy markets, and declines in business and consumer spending have combined to increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Any required changes in those estimates will be reflected in the financial statements in future periods. | |||||||||||||||||||||
New Accounting Pronouncements | |||||||||||||||||||||
In February 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. The guidance is effective for annual and interim periods beginning after December 15, 2012. The Company adopted ASU 2013-02 on January 1, 2013 and its adoption did not have a material impact on the Company’s financial position or results of operations. | |||||||||||||||||||||
In July 2013, the FASB issued ASU No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists”. ASU 2013-11 requires an entity to net its liability for unrecognized tax benefits against the deferred tax assets for all same jurisdiction net operating losses or similar tax loss carryforwards, or tax credit carryforwards. A gross presentation will be required only if such carryforwards are not available as of the reporting date to settle any additional income taxes resulting from disallowance of the uncertain tax position or the entity does not intend to use these carryforwards for this purpose. The new guidance is effective on a prospective basis for fiscal years beginning after December 15, 2013 and interim periods within those years. This new guidance is not expected to have a material impact on the Company’s financial position or results of operations. |
Acquisition_Of_Qumu_Inc
Acquisition Of Qumu, Inc. | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Acquisition of Qumu, Inc. | ' | |||||||
Acquisition of Qumu, Inc. | ||||||||
On October 10, 2011, the Company entered into an Agreement and Plan of Merger (“the Merger Agreement”) to acquire 100% of the outstanding stock of Qumu, Inc., a leading supplier of enterprise video communication solutions and social enterprise applications for business based in San Bruno, California. The acquisition was made to accelerate the Company’s growth potential in the global enterprise video content management software market. | ||||||||
After inclusion of working capital and other adjustments required under the Merger Agreement, the aggregate purchase price totaled approximately $53 million, consisting of a net cash outlay of approximately $39 million and approximately 1,000,000 shares of Qumu Corporation's common stock. For the purposes of calculating the number of shares of common stock issuable in the merger, the parties agreed upon a value of $13.1865 per share. Pursuant to the terms of a lock-up agreement, the shares issued in the merger were restricted from transfer, subject to certain exceptions. The restrictions lapsed for one-third of the shares at each of 180 days, 270 days and 365 days following the effective date of the merger. Following the acquisition, Qumu, Inc.'s liabilities consisted of trade payables, accrued operating expenses and deferred income related primarily to active software maintenance contracts. Of the cash amounts payable in the merger, $5.2 million was subject to escrow for a one-year period to secure a possible working capital adjustment and the indemnification obligations to the Company. The escrow period lapsed as of October 10, 2012, with no required working capital adjustments or indemnification claims. As such, the full escrow balance was released to the selling shareholders of Qumu, Inc. and other entitled parties. The acquisition was funded through the use of cash held by the Company at the acquisition date and the Company's common stock. | ||||||||
The acquisition was accounted for under the provisions of ASC 805, Business Combinations. The aggregate purchase price was allocated to the fair values of the tangible and intangible assets acquired and liabilities assumed. Management engaged the services of an independent qualified third-party appraiser to assist with establishing fair values. The fair values assigned to intangible assets were determined through the use of forecasted cash inflows and outflows and applying a relief-from royalty and a multi-period excess earnings method. These valuation methods were based on management’s estimates as of the acquisition date of October 10, 2011. The excess of the purchase price over the net tangible and identifiable intangible assets acquired was recorded as goodwill, which is non-deductible for tax purposes. Transaction costs of approximately $1.7 million were expensed as incurred and were included in the Company’s selling, general and administrative expenses. | ||||||||
The following table summarizes the purchase accounting allocation of the total purchase price to Qumu, Inc.'s net tangible and intangible assets, with the residual allocated to goodwill (in thousands). | ||||||||
Aggregate purchase price | $ | 51,275 | ||||||
Less: discount applied to Qumu Corporation stock for trade restrictions | (1,955 | ) | ||||||
Net transaction consideration | $ | 49,320 | ||||||
Current assets | $ | 5,213 | ||||||
Property and equipment | 390 | |||||||
Intangible assets | 18,900 | |||||||
Goodwill | 22,218 | |||||||
Net deferred tax assets | 7,229 | |||||||
Current liabilities | (4,630 | ) | ||||||
Total net assets acquired | $ | 49,320 | ||||||
The aggregate purchase price for purchase accounting of $51,275,000 reflects the cash consideration plus the valuation of issued Qumu Corporation stock at the closing price per share of $11.50 on the date of the acquisition. The purchase price allocation was finalized during the three months ended September 30, 2012 with no further changes required relative to the original allocation. See Note 8, "Goodwill and Intangible Assets" for a roll forward of the carrying value of goodwill and intangible assets and a discussion of goodwill and intangible asset impairments recorded during the year ended December 31, 2012. | ||||||||
Qumu, Inc. operating results are included in the Company's Consolidated Statements of Operations in the Company's enterprise video content management software segment from the date of acquisition. The following table contains unaudited pro forma consolidated results for the year ended December 31, 2011 as if the Qumu, Inc. acquisition had occurred on January 1, 2010 (in thousands, except per share data). | ||||||||
Year Ended December 31, 2011 | ||||||||
Reported | Pro Forma | |||||||
(Unaudited) | ||||||||
Net sales | $ | 83,634 | $ | 94,092 | ||||
Net earnings | 2,835 | 308 | ||||||
Net earnings per share: | ||||||||
Basic and Diluted | $ | 0.29 | $ | 0.03 | ||||
The above pro forma financial information is based on the historical financial results of Qumu Corporation and Qumu, Inc. after giving effect to the acquisition and certain pro forma adjustments, summarized below. | ||||||||
Pro forma adjustments relate primarily to 1) amortization of identified intangible assets of $1.6 million and 2) elimination of $0.9 million of Qumu, Inc.'s interest expense and bank fees associated with debt that was retired with acquisition proceeds and certain other adjustments together with related income tax effects of $1.9 million. The pro forma financial results do not include the impact of one-time transaction-related costs. | ||||||||
The pro forma consolidated results do not purport to be indicative of results that would have occurred had the acquisition been in effect for the periods presented, nor do they claim to be indicative of the results that will be obtained in the future. In addition, the pro forma results do not reflect the realization of any cost savings that may have been achieved from operating efficiencies, synergies or other restructuring activities that may result from the acquisition. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Stock-Based Compensation, Common Stock Repurchases and Dividends | ' | |||||||||||||
Stock-Based Compensation, Common Stock Repurchases and Dividends | ||||||||||||||
The Company issues shares pursuant to the 2007 Stock Incentive Plan (the “2007 Plan”). The 2007 Plan approved by shareholders provides for the grant of stock incentive awards in the form of incentive and non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance stock, performance units and other awards in stock and/or cash to certain key employees, non-employee directors and service providers. Effective with the approval of the 2007 Plan in May 2007, the Company may not issue any new awards or options under its Amended and Restated 1992 Stock Option Plan (the “1992 Plan”). At December 31, 2013, a total of 204,109 shares were available for future grant under the 2007 Plan. The exercise price of stock options granted under the 2007 Plan is equal to the market value on the date of grant. Options issued to employees under the 2007 Plan generally become exercisable over a four-year period and terminate seven years from the date of grant. Stock options granted to non-employee directors vest 6 months from the date of grant and terminate ten years from the date of grant. Restricted stock and restricted stock units issued to employees and to non-employee directors under the 2007 Plan are subject to the risk of forfeiture and transfer restrictions that lapse in varying time periods from the date of grant. | ||||||||||||||
In addition to awards granted under the 2007 Plan and 1992 Plan, the Company granted non-qualified options to purchase 200,000, 100,000 and 50,000 shares of its common stock to newly hired senior management level employees on April 1, 2009, November 26, 2012, and January 7, 2013, respectively. The options in all cases were granted outside of any shareholder-approved plan as inducements to accept employment with the Company. The options have an exercise price equal to the closing price of the Company’s common stock as reported by the Nasdaq Stock Market on the first day of employment, vest in four equal installments on each of the first four anniversaries of the date of grant and have terms of seven years. In other respects, the options were structured to mirror the terms of the options granted under the 2007 Plan and are subject to stock option agreements between the Company and the employees. | ||||||||||||||
In September 2013, the Company completed an offer to exchange certain outstanding options to active non-executive employees. Eligible outstanding options were those that were granted before September 4, 2012 and had an exercise price of $13.50 per share or higher. Eligible employees participating in the exchange offer received new options determined by applying exchange ratios set forth in the exchange offer. The exchange ratios were calculated on an approximate “value-for-value” basis, meaning that the exchange ratios were intended to result in the grant of new options with an aggregate fair value approximately equal to the aggregate fair value of the eligible options they replace. The new options, which were issued under and subject to the terms of the Company's 2007 Plan, will all expire on the later of (i) the expiration date of the surrendered options for which they were exchanged or (ii) the third anniversary of the exchange date, September 19, 2016, subject to earlier expiration upon termination of employee services. New options granted in the option exchange will not be vested on their date of grant regardless of whether the surrendered option was fully vested. The new options granted to employees under the offer will not vest at all until the first anniversary of the date of grant. At that time, each new option granted will then vest as to that portion of the underlying shares that would be vested under the original vesting schedule of the eligible options that had been exchanged. Approximately 182,000 outstanding options were exchanged for approximately 29,000 new option awards. Options granted pursuant to the exchange offer have an exercise price of $11.87 per share, the closing price of the Company's common stock on September 19, 2013. The exchange offer was considered a modification but did not result in a charge or other financial statement impact. | ||||||||||||||
The Company determines stock-based compensation expense based on the grant-date fair value and recognizes it on a straight-line basis over the vesting period. The Company recognizes stock-based compensation net of an estimated forfeiture rate, resulting in the recognition of compensation cost for only those shares expected to vest. Compensation cost is recognized for all awards over the vesting period to the extent the employees or directors meet the requisite service requirements, whether or not an option is ultimately exercised. Conversely, when an employee or director does not meet the requisite service requirements and forfeits the award prior to vesting, any compensation expense previously recognized for the award is reversed. | ||||||||||||||
The Company recognized the following amounts related to the Company’s share-based payment arrangements (in thousands): | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Stock-based compensation cost charged against income, before income tax benefit | ||||||||||||||
Stock options | $ | 1,145 | $ | 1,387 | $ | 1,447 | ||||||||
Restricted stock and restricted stock units | 633 | 737 | 534 | |||||||||||
Total | $ | 1,778 | $ | 2,124 | $ | 1,981 | ||||||||
Stock-based compensation cost included in: | ||||||||||||||
Cost of revenues | $ | 141 | $ | 137 | $ | 124 | ||||||||
Operating expenses | 1,637 | 1,987 | 1,857 | |||||||||||
Total | $ | 1,778 | $ | 2,124 | $ | 1,981 | ||||||||
Income tax benefit related to stock-based compensation included in net income | $ | — | $ | — | $ | (692 | ) | |||||||
Stock Options | ||||||||||||||
The fair value of each option award is estimated at the date of grant using the Black-Scholes option pricing model. The assumptions used to determine the fair value of stock option awards granted were as follows: | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Expected life of options in years | 2.0 - 4.75 | 4.75 | 4.75 | |||||||||||
Risk-free interest rate | 0.34% - 1.34% | 0.59% - 0.94% | 0.80% - 2.05% | |||||||||||
Expected volatility | 31.5% - 43.7% | 43.8% - 46.9% | 46.2% - 48.4% | |||||||||||
Expected dividend yield | 0.00% | 0.0% - 9.9% | 2.7% - 6.1% | |||||||||||
The Company reviews these assumptions at the time of each new option award and adjusts them as necessary to ensure proper option valuation. The expected life represents the period that the stock option awards are expected to be outstanding. Effective April 2008, the Company’s Board of Directors approved a change in the contractual term of stock options granted to employees from ten to seven years. Given the reduction in the contractual term of its employee stock option awards, the Company determined it was unable to rely on its historical exercise data as a basis for estimating the expected life of stock options granted to employees subsequent to this change. As such, the Company used the “simplified” method for determining the expected life of stock options granted to employees in 2013, 2012 and 2011, which bases the expected life calculation on the average of the vesting term and the contractual term of the awards. The risk-free interest rate is based on the yield of constant maturity U.S. treasury bonds with a remaining term equal to the expected life of the awards. The Company estimated the stock price volatility using weekly price observations over the most recent historical period equal to the expected life of the awards. With the approval by the Company’s Board of Directors effective February 23, 2011 of the initiation of dividend payments, the Company computed an expected dividend rate for grants awarded in 2011 and through the third quarter of 2012 based on the relationship of the expected dividend to the stock price on the date of grant. On October 26, 2012, the Company's Board of Directors approved the termination of the Company's quarterly dividend payment. | ||||||||||||||
A summary of share option activity for the year ended December 31, 2013 is presented in the table below (in thousands, except per share data): | ||||||||||||||
Shares | WAEP* | Weighted | Aggregate | |||||||||||
Average | Intrinsic Value** | |||||||||||||
Remaining | ||||||||||||||
Contractual Term | ||||||||||||||
(in years) | ||||||||||||||
Options outstanding at December 31, 2012 | 1,925 | $ | 13.81 | |||||||||||
Granted | 389 | 11.78 | ||||||||||||
Exercised | (1 | ) | 9.26 | |||||||||||
Canceled | (565 | ) | 15.1 | |||||||||||
Options outstanding at December 31, 2013 | 1,748 | $ | 12.95 | 4.45 | $ | 3,415 | ||||||||
Options subject to exercise at | 881 | $ | 15.55 | 3.13 | $ | 756 | ||||||||
31-Dec-13 | ||||||||||||||
*Weighted Average Exercise Price | ||||||||||||||
**Aggregate intrinsic value includes only those options with intrinsic value (options where the exercise price is below the market value). | ||||||||||||||
As of December 31, 2013, $2,474,000 of total stock option compensation expense (gross of the impact of potential forfeitures) was not yet recognized related to non-vested option awards, and is expected to be recognized over a weighted average period of 3.0 years. | ||||||||||||||
Other information pertaining to options is as follows (in thousands, except per share data): | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Fair value of options granted | $ | 1,382 | $ | 1,288 | $ | 1,838 | ||||||||
Per share weighted average fair value of options granted | $ | 3.55 | $ | 2.44 | $ | 3.13 | ||||||||
Total intrinsic value of stock options exercised | $ | 2 | $ | — | $ | 240 | ||||||||
The aggregate impact of the exercise of stock options, expirations of vested stock options and lapse of restrictions on restricted stock generated a net tax impact of $13,000, $214,000 and $19,000 in 2013, 2012 and 2011 respectively, recorded as a reduction in additional paid-in capital. | ||||||||||||||
Restricted Stock | ||||||||||||||
Restricted stock and restricted stock units are valued based on the market value of the Company’s shares on the date of grant, which was equal to the intrinsic value of the shares on that date. These awards vest and the restrictions lapse over varying periods from the date of grant. The Company recognizes compensation expense for the intrinsic value of the restricted awards ratably over the vesting period. | ||||||||||||||
A summary of the status of the Company’s nonvested shares and share units as of December 31, 2013 and changes during the year ended December 31, 2013 is presented in the table below (in thousands, except per share data): | ||||||||||||||
Number of Shares | Weighted Average | |||||||||||||
Grant-Date Fair Value | ||||||||||||||
Nonvested at December 31, 2012 | 150 | $ | 11.21 | |||||||||||
Granted | 55 | 10.14 | ||||||||||||
Vested | (66 | ) | 10.72 | |||||||||||
Canceled | (21 | ) | 11.46 | |||||||||||
Nonvested at December 31, 2013 | 118 | $ | 10.94 | |||||||||||
As of December 31, 2013, $954,000 of total compensation expense (gross of the impact of potential forfeitures) was not yet recognized related to non-vested shares and share unit awards, which is expected to be recognized over a weighted average period of 2.2 years. | ||||||||||||||
Other information pertaining to restricted stock and restricted stock units is as follows (in thousands, except per share data): | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Per share weighted average grant-date fair value of restricted stock and restricted stock units granted | $ | 10.14 | $ | 8.63 | $ | 13.19 | ||||||||
Total fair value of restricted stock and restricted stock units vested | $ | 593 | $ | 394 | $ | 349 | ||||||||
Common Stock Repurchases | ||||||||||||||
Since October 2010, the Company’s Board of Directors has approved common stock repurchases of up to 3,500,000 shares. Shares may be purchased at prevailing market prices in the open market or in private transactions, subject to market conditions, share price, trading volume and other factors. The repurchase program may be discontinued at any time. The repurchase program has been funded to date using cash on hand. A summary of the Company's repurchase activity is presented in the table below (in thousands, except per share data): | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Common stock shares repurchased under Board authorized plan | — | 1,569 | 459 | |||||||||||
Average purchase price per share | $ | — | $ | 6.22 | $ | 13.15 | ||||||||
Shares available under Board authorizations at December 31, 2013 | 778 | |||||||||||||
Dividends | ||||||||||||||
On October 26, 2012, the Company's Board of Directors approved the termination of the Company's quarterly dividend payment. The Company did not pay a dividend in 2013. The following table sets forth the quarterly cash dividends authorized and paid by the Company in 2012 (in thousands, except per share amounts): | ||||||||||||||
Date of Declaration | Date of Payment | Dividend per Share | Total Dividends Paid | |||||||||||
First Quarter | 2/21/12 | 3/20/12 | $ | 0.17 | $ | 1,738 | ||||||||
Second Quarter | 4/24/12 | 6/15/12 | 0.17 | 1,730 | ||||||||||
Third Quarter | 7/24/12 | 9/14/12 | 0.17 | 1,712 | ||||||||||
Fourth Quarter | — | — | — | — | ||||||||||
Total | $ | 0.51 | $ | 5,180 | ||||||||||
Marketable_Securities
Marketable Securities | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Marketable Securities [Abstract] | ' | ||||||||||||||
Marketable Securities | ' | ||||||||||||||
Marketable Securities | |||||||||||||||
Marketable securities consisted of the following (in thousands): | |||||||||||||||
31-Dec-13 | |||||||||||||||
Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair value | ||||||||||||
Certificates of deposit | $ | 13,250 | $ | — | $ | (17 | ) | $ | 13,233 | ||||||
Total marketable securities | $ | 13,250 | $ | — | $ | (17 | ) | $ | 13,233 | ||||||
31-Dec-12 | |||||||||||||||
Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair value | ||||||||||||
Certificates of deposit | $ | 6,500 | $ | — | $ | (1 | ) | $ | 6,499 | ||||||
Treasury bills | 14,996 | 1 | — | 14,997 | |||||||||||
Total marketable securities | $ | 21,496 | $ | 1 | $ | (1 | ) | $ | 21,496 | ||||||
Marketable securities are classified as short-term in the Consolidated Balance Sheets based on their effective maturity date. All marketable securities as of December 31, 2013 and December 31, 2012 have original maturities ranging from three to 12 months and are classified as available-for-sale. Available-for-sale securities are recorded at fair value and any unrealized holding gains and losses, net of the related tax effect, are excluded from earnings and are reported as a separate component of accumulated other comprehensive income (loss) until realized. See Note 5, “Fair Value Measurements,” for a discussion of inputs used to measure the fair value of the Company's available-for-sale securities. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
A hierarchy for inputs used in measuring fair value is in place that distinguishes market data between observable independent market inputs and unobservable market assumptions by the reporting entity. The hierarchy is intended to maximize the use of observable inputs and minimize the use of unobservable inputs by requiring that the most observable inputs be used when available. Three levels within the hierarchy may be used to measure fair value: | ||||||||||||||||
• | Level 1: Inputs are unadjusted quoted prices in active markets for identical assets and liabilities. | |||||||||||||||
• | Level 2: Inputs include data points that are observable such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) such as interest rates and yield curves that are observable for the asset or liability, either directly or indirectly. | |||||||||||||||
• | Level 3: Inputs are generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect an entity’s own estimates of assumptions that market participants would use in pricing the asset or liability. | |||||||||||||||
The Company’s assets and liabilities measured at fair value on a recurring basis and the fair value hierarchy utilized to determine such fair values is as follows at December 31, 2013 and 2012 (in thousands): | ||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||
Total Fair | Quoted Prices in | Significant Other | Significant | |||||||||||||
Value at | Active Markets | Observable | Unobservable | |||||||||||||
31-Dec-13 | (Level 1) | Inputs | Inputs | |||||||||||||
(Level 2) | (Level 3) | |||||||||||||||
Assets: | ||||||||||||||||
Certificates of deposit | $ | 13,233 | $ | 13,233 | $ | — | $ | — | ||||||||
Foreign currency forward exchange contracts | 14 | — | 14 | — | ||||||||||||
Total assets | $ | 13,247 | $ | 13,233 | $ | 14 | $ | — | ||||||||
Fair Value Measurements Using | ||||||||||||||||
Total Fair | Quoted Prices in | Significant Other | Significant | |||||||||||||
Value at | Active Markets | Observable | Unobservable | |||||||||||||
31-Dec-12 | (Level 1) | Inputs | Inputs | |||||||||||||
(Level 2) | (Level 3) | |||||||||||||||
Assets: | ||||||||||||||||
Certificates of deposit | $ | 6,499 | $ | 6,499 | $ | — | $ | — | ||||||||
Treasury bills | 14,997 | 14,997 | — | — | ||||||||||||
Total assets | $ | 21,496 | $ | 21,496 | $ | — | $ | — | ||||||||
Liabilities: | ||||||||||||||||
Foreign currency forward exchange contracts | $ | 8 | $ | — | $ | 8 | $ | — | ||||||||
Total liabilities | $ | 8 | $ | — | $ | 8 | $ | — | ||||||||
Marketable securities are classified as Level 1 in the above table and are carried at fair value based on quoted market prices. The Company uses quoted market prices as all of the certificates of deposit and treasury bills have maturity dates within one year from the Company's date of purchase and trade in active markets. | ||||||||||||||||
Foreign currency forward exchange contracts are classified as Level 2 in the above table and are carried at fair value based on significant other observable market inputs, in this case, quoted foreign currency exchange rates. Such valuation represents the amount the Company would receive or pay to terminate the forward exchange contracts at the reporting date. The Company enters into forward foreign exchange contracts to hedge intercompany receivables primarily denominated in Euros arising from sales to its subsidiary in Germany. Gains or losses on forward foreign exchange contracts are calculated at each period end and are recognized in net income (loss) in the period in which they arose. The fair value of forward foreign exchange contracts are recorded in other current assets or other current liabilities depending on whether the net amount is a gain or loss. This treatment is based on the master netting arrangement under the Company's foreign exchange agreement which allows netting of asset and liability positions of outstanding foreign exchange contracts if settlement were required. | ||||||||||||||||
Assets and liabilities that are measured at fair value on a non-recurring basis | ||||||||||||||||
During the year ended December 31, 2012, the Company measured non-financial long-lived assets and liabilities at fair value in conjunction with the goodwill and intangible assets impairment. The Company used the income approach, specifically the discounted cash flow method, in concluding the fair value of the enterprise video content management software reporting unit and associated amount of impairment charges. The inputs used in the impairment fair value calculations fall within Level 3 inputs due to the significant unobservable inputs used to determine the fair value. See Note 8, “Goodwill and Intangible Assets,” for a discussion and fair value measurements related to the non-recurring fair value measurements. |
Inventories
Inventories | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventories | ' | |||||||
Inventories | ||||||||
Inventories consisted of the following (in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Finished goods and demonstration equipment | $ | 1,605 | $ | 2,677 | ||||
Purchased parts and subassemblies | 2,497 | 3,359 | ||||||
Total inventories | $ | 4,102 | $ | 6,036 | ||||
From time to time, the Company stores inventory on a consignment basis at customers' locations. The amount of consignment inventory included in finished goods and demonstration equipment was $308,000 and $313,000 as of December 31, 2013 and 2012, respectively. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property and Equipment | ' | |||||||
Property and Equipment | ||||||||
Property and equipment consisted of the following (in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Land and land improvements | $ | 1,096 | $ | 1,096 | ||||
Building and building improvements | 2,961 | 2,955 | ||||||
Manufacturing equipment | 5,643 | 5,610 | ||||||
Development fixtures and equipment | 693 | 693 | ||||||
Data equipment and furniture | 8,693 | 7,849 | ||||||
Leasehold improvements | 2,162 | 2,162 | ||||||
21,248 | 20,365 | |||||||
Less accumulated depreciation and amortization | (15,829 | ) | (14,399 | ) | ||||
Total property, plant & equipment, net | $ | 5,419 | $ | 5,966 | ||||
Depreciation and amortization expense associated with property and equipment was $1,628,000, $2,382,000 and $2,313,000 for the years ended December 31, 2013, 2012 and 2011, respectively. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||
Goodwill And Intangible Assets | ' | ||||||||||||||
Goodwill and Intangible Assets | |||||||||||||||
Changes in the Company's intangible assets consisted of the following (in thousands): | |||||||||||||||
Estimated Life | 31-Dec-12 | Additions/ Amortization | Other Net Adjustments | 31-Dec-13 | |||||||||||
Intangible Assets: | |||||||||||||||
Customer relationships | 10 | $ | 2,982 | $ | — | $ | — | $ | 2,982 | ||||||
Developed technology | 6 | 3,357 | — | — | 3,357 | ||||||||||
In-process research and development | 6 | 1,310 | — | — | 1,310 | ||||||||||
Trademarks / trade names | 15 | 2,122 | — | — | 2,122 | ||||||||||
Software | 5 | 1,051 | — | 33 | 1,084 | ||||||||||
10,822 | — | 33 | 10,855 | ||||||||||||
Less accumulated amortization | (858 | ) | (1,400 | ) | (19 | ) | (2,277 | ) | |||||||
Total intangible assets, net | $ | 9,964 | $ | (1,400 | ) | $ | 14 | $ | 8,578 | ||||||
Amortization expense associated with the developed technology and software intangible assets included in cost of product revenues was $772,000, $998,000 and $400,000 for the years ended December 31, 2013, 2012 and 2011 respectively. Amortization expense associated with other acquired intangible assets included in operating expenses as “amortization of purchased intangibles,” was $628,000, $952,000 and $223,000 for the years ended December 31, 2013, 2012 and 2011 respectively. | |||||||||||||||
The Company estimates that amortization expense associated with intangible assets will be as follows (in thousands): | |||||||||||||||
2014 | $ | 1,402 | |||||||||||||
2015 | 1,323 | ||||||||||||||
2016 | 1,186 | ||||||||||||||
2017 | 1,186 | ||||||||||||||
2018 | 1,047 | ||||||||||||||
Thereafter | 2,434 | ||||||||||||||
$ | 8,578 | ||||||||||||||
The Company's cumulative goodwill impairment losses are as follows (in thousands): | |||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||
Gross Carrying Amount | Cumulative Impairment Losses | Gross Carrying Amount | Cumulative Impairment Losses | ||||||||||||
Goodwill | $ | 22,218 | $ | (22,218 | ) | $ | 22,218 | $ | (22,218 | ) | |||||
On October 10, 2011, Qumu Corporation completed the acquisition of Qumu, Inc. and recognized $22.2 million of goodwill and $18.9 million of intangible assets attributable to the Company's enterprise video content management software segment. During the three months ended September 30, 2012, the Company recorded a $22.2 million goodwill and $7.3 million intangible asset impairment charge associated with its enterprise video content management software segment. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The components of income (loss) before income taxes consist of the following (in thousands): | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Income (loss) before income taxes: | ||||||||||||
Domestic | $ | (8,827 | ) | $ | (37,941 | ) | $ | 4,177 | ||||
Foreign | (1,051 | ) | (1,847 | ) | 492 | |||||||
Total income (loss) before income taxes | $ | (9,878 | ) | $ | (39,788 | ) | $ | 4,669 | ||||
The provision for income tax expense (benefit) consists of the following (in thousands): | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
U.S. Federal | $ | (626 | ) | $ | (2,461 | ) | $ | 3,103 | ||||
State | (35 | ) | 2 | 723 | ||||||||
Foreign | — | (97 | ) | 259 | ||||||||
Total current | (661 | ) | (2,556 | ) | 4,085 | |||||||
Deferred: | ||||||||||||
U.S. Federal | 711 | 9,885 | (1,633 | ) | ||||||||
State | — | 1,537 | (455 | ) | ||||||||
Foreign | (109 | ) | (57 | ) | — | |||||||
Total deferred | 602 | 11,365 | (2,088 | ) | ||||||||
Total provision for income tax expense (benefit) | $ | (59 | ) | $ | 8,809 | $ | 1,997 | |||||
Total income tax expense (benefit) differs from the expected income tax expense (benefit), computed by applying the federal statutory rate of 34% to earnings before income taxes as follows (in thousands): | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Expected income tax expense (benefit) | $ | (3,359 | ) | $ | (13,528 | ) | $ | 1,587 | ||||
State income taxes, net of federal tax effect | (318 | ) | (314 | ) | 177 | |||||||
Change in tax rate | (39 | ) | 170 | 102 | ||||||||
Manufacturer's deduction | — | — | (155 | ) | ||||||||
Federal R&D credit | (95 | ) | — | (163 | ) | |||||||
Tax-exempt interest income | — | — | (18 | ) | ||||||||
Change in valuation allowance | 3,351 | 13,967 | (97 | ) | ||||||||
Goodwill impairment | — | 7,554 | — | |||||||||
Non-deductible acquisition costs | — | — | 363 | |||||||||
Foreign tax | 265 | 431 | — | |||||||||
Other, net | 136 | 529 | 201 | |||||||||
Total provision for income tax expense (benefit) | $ | (59 | ) | $ | 8,809 | $ | 1,997 | |||||
The tax effects of temporary differences that give rise to significant portions of deferred tax assets (liabilities) are presented below (in thousands): | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Inventory provisions and uniform capitalization | $ | 225 | $ | 299 | ||||||||
Accounts receivable allowances | 73 | 57 | ||||||||||
Fixed assets | 244 | 414 | ||||||||||
Non-qualified stock option and restricted stock expense | 2,367 | 2,455 | ||||||||||
Deferred maintenance revenue | 726 | 1,354 | ||||||||||
Unrecognized tax benefits | 13 | 9 | ||||||||||
Loss and credit carryforwards of U.S. subsidiary | 15,502 | 13,124 | ||||||||||
Loss carryforward of foreign subsidiaries and joint venture | 1,332 | 1,103 | ||||||||||
Other accruals and reserves | 880 | 374 | ||||||||||
Other | 62 | 70 | ||||||||||
Total deferred tax assets before valuation allowance | 21,424 | 19,259 | ||||||||||
Less valuation allowance | (18,110 | ) | (14,988 | ) | ||||||||
Total deferred tax assets | $ | 3,314 | $ | 4,271 | ||||||||
Deferred tax liabilities: | ||||||||||||
Acquired intangibles | (3,029 | ) | (3,425 | ) | ||||||||
Total deferred tax liabilities | $ | (3,029 | ) | $ | (3,425 | ) | ||||||
Total net deferred tax assets | $ | 285 | $ | 846 | ||||||||
As of December 31, 2013, the Company had net operating loss carryforwards of $34.2 million for U.S. federal tax purposes. The Company also had $38.6 million of various state net operating loss carryforwards. The loss carryforwards for federal tax purposes will expire between 2023 and 2034 if not utilized. The loss carryforwards for state tax purposes will expire between 2022 and 2034 if not utilized. | ||||||||||||
As of December 31, 2013, the Company had federal and state research and development credit carryforwards of $2.7 million, net of Section 383 limitations, which will begin to expire in 2022 if not utilized. | ||||||||||||
As a result of its acquisition of Qumu, Inc. in October 2011, utilization of U.S. net operating losses and tax credits of Qumu, Inc. are subject to annual limitations under Internal Revenue Code Sections 382 and 383, respectively. | ||||||||||||
During the year ended December 31, 2012, the Company recorded a non-cash charge of approximately $14 million primarily associated with the establishment of a valuation allowance on its U.S. deferred tax assets, including the deferred tax assets established as part of the acquisition of Qumu, Inc. ASC 740, Income Taxes, requires that companies assess whether a valuation allowance should be established against their deferred tax assets based on the consideration of all available evidence, using a “more likely than not” standard. Accordingly, the Company determined a U.S. valuation allowance is appropriate, except to the extent of carryback potential. The valuation allowance will be reviewed quarterly and will be maintained until sufficient positive evidence exists to support the reversal of the valuation allowance. | ||||||||||||
The Company generally believes that it is more likely than not that the future results of the operations of its subsidiaries in Germany and the U.K. will generate sufficient taxable income to realize the tax benefits related to its net deferred tax assets. However, the Company continues to carry a full valuation allowance on the tax benefits of loss carryforwards for its subsidiaries in Japan, China and Singapore. The cumulative foreign tax loss carryforwards amounted to approximately $3.8 million as of December 31, 2013, and if unutilized, will expire between tax years 2014 and 2020, except for the Singapore loss which can be carried forward indefinitely. The valuation allowances were calculated in accordance with the requirement that a valuation allowance be established or maintained when it is “more likely than not” that all or a portion of deferred tax assets will not be realized. | ||||||||||||
The Company has not provided deferred taxes on unremitted earnings attributable to its international subsidiaries that are considered to be reinvested indefinitely. Accumulated undistributed foreign earnings relate primarily to ongoing operations of the Company's subsidiary in Germany, and amount to approximately $5.9 million as of December 31, 2013. The amount of cash, cash equivalent and marketable securities held by the Company's international subsidiaries that are not available to fund domestic operations unless repatriated was $5.6 million as of December 31, 2013. The Company currently does not intend to repatriate the cash and related balances held by its international subsidiaries. However, if circumstances change and these funds are needed to meet cash requirements in the U.S., the Company would be required to accrue and pay U.S. taxes, net of related foreign tax credits, to repatriate these funds. Based on current tax laws and structures, the Company does not believe this would have a material impact on its consolidated financial statements and cash flows. | ||||||||||||
A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits for the years ended December 31 is presented in the table below (in thousands): | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Gross unrecognized tax benefits at beginning of year | $ | 1,017 | $ | 977 | ||||||||
Increases related to: | ||||||||||||
Prior year income tax positions | 97 | 37 | ||||||||||
Current year income tax positions | 84 | 3 | ||||||||||
Decreases related to: | ||||||||||||
Prior year income tax positions - closure of statute of limitations | (162 | ) | — | |||||||||
Gross unrecognized tax benefits at end of year | $ | 1,036 | $ | 1,017 | ||||||||
Included in the balance of unrecognized tax benefits at December 31, 2013 are potential benefits of $97,000 that if recognized, would affect the effective tax rate. The Company does not anticipate that the total amount of unrecognized tax benefits as of December 31, 2013 will change significantly by December 31, 2014. | ||||||||||||
The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. Total accrued interest and penalties amounted to $18,000 and $16,000 on a gross basis at December 31, 2013 and 2012, respectively, and are excluded from the reconciliation of unrecognized tax benefits presented above. Interest and penalties recognized in the Consolidated Statements of Operations related to uncertain tax positions amounted to net tax expense in 2013 of $3,000 and a net benefit in 2012 of $1,000. | ||||||||||||
The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. As of December 31, 2013, the Company was no longer subject to income tax examinations for taxable years before 2010 and 2011 in the case of U.S. federal and German taxing authorities, respectively, and taxable years generally before 2009 in the case of state taxing authorities, consisting primarily of Minnesota and California. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Equity Attributable to Parent [Abstract] | ' |
Stockholders' Equity | ' |
Stockholders’ Equity | |
On September 16, 2003, the Company’s Board of Directors adopted a shareholder rights plan and declared a dividend of one preferred share purchase right (a “Right”) for each share of common stock of the Company outstanding on October 6, 2003 and with respect to each share of common stock issued thereafter. | |
On September 11, 2013, the Company entered into an Amendment No. 1 to the Rights Agreement, dated September 17, 2003. Under the terms of the Amendment, the expiration date of the Company’s shareholder rights plan contemplated by the Rights Agreement was extended. Following the Amendment, the shareholder rights plan will continue in effect to September 16, 2016, or such earlier date that the Company redeems the rights. The Amendment also includes changes to the definition of “Acquiring Person” to increase the ownership threshold triggering the rights from 15% to 20%. The rights become exercisable only after any Acquiring Person becomes or would become the beneficial owner of 20% or more of the Company's outstanding stock. The Amendment also changes the definition of “Beneficial Owner” to cover certain derivative transactions that might not be included in the definition of beneficial ownership under Rule 13d-3 of the Securities Exchange Act of 1934. The Rights Agreement is also amended to change the purchase price for the exercise of rights under the rights plan to $35 from $100. | |
Under the Amendment, each Right entitles the registered holder to purchase from the Company 1/100 of a Series A Junior Participating Preferred Share at a price of $35.00 per 1/100 of a Preferred Share, subject to adjustment. In the event that any person or group becomes an Acquiring Person, each holder of a Right, other than Rights that are or were beneficially owned by the Acquiring Person (which will thereafter be void), will thereafter have the right to receive, upon exercise thereof at the then current exercise price of the Right, that number of Common Shares having a market value of two times the exercise price of the Right, subject to certain possible adjustments. If the Company is acquired in certain mergers or other business combination transactions, or 50% or more of the assets or earning power of the Company and its subsidiaries (taken as a whole) are sold, each holder of a Right (other than Rights that have become void under the terms of the Rights Agreement) will thereafter have the right to receive, upon exercise of the Right at the then current exercise price of the Right, the number of common shares of the acquiring company (or, in certain cases, one of its affiliates) having a market value of two times the exercise price of the Right. At any time prior to the time that a person or group has become an Acquiring Person, the Company’s Board of Directors may redeem the Rights in whole, but not in part, at a price of $.001 per Right, subject to adjustment, payable in cash. No preferred shares have been issued or are outstanding under the shareholder rights plan as of December 31, 2013. |
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Net Income (Loss) Per Share | ' | |||||||||||
Net Income (Loss) Per Share | ||||||||||||
Basic net income (loss) per common share is determined by dividing net income (loss) by the basic weighted average number of shares of common stock outstanding. Diluted net income (loss) per common share includes the potentially dilutive effect of common shares issued in connection with outstanding stock options using the treasury stock method and the dilutive impact of restricted stock units. Stock options and restricted stock units to acquire weighted average common shares of 1,921,000, 1,750,000 and 1,307,000 for the years ended December 31, 2013, 2012 and 2011, respectively, have been excluded from the computation of diluted weighted average shares outstanding for each respective period as their effect is anti-dilutive. | ||||||||||||
The Company calculates net income (loss) per share pursuant to the two-class method, which requires all outstanding unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) to be considered participating securities and included in the computation of basic and diluted earnings per share using the two-class method. The Company included in its computation of weighted average shares outstanding approximately 67,000 weighted average outstanding shares of unvested restricted stock deemed to be participating securities for the year ended December 31, 2013. The following table identifies the components of net income (loss) per basic and diluted share (in thousands, except for per share data): | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Shares outstanding at end of period | 8,674 | 8,654 | 10,204 | |||||||||
Basic weighted average shares outstanding | 8,691 | 9,971 | 9,674 | |||||||||
Dilutive effect of stock options and restricted stock units | — | — | 25 | |||||||||
Total diluted weighted average shares outstanding | 8,691 | 9,971 | 9,699 | |||||||||
Net income (loss) attributable to Qumu | $ | (9,694 | ) | $ | (48,338 | ) | $ | 2,835 | ||||
Basic net income (loss) per common share | $ | (1.12 | ) | $ | (4.85 | ) | $ | 0.29 | ||||
Diluted net income (loss) per common share | $ | (1.12 | ) | $ | (4.85 | ) | $ | 0.29 | ||||
Lease_Commitments
Lease Commitments | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Leases [Abstract] | ' | |||
Lease Commitments | ' | |||
Lease Commitments | ||||
The Company leases certain of its facilities and some of its equipment under non-cancelable operating lease arrangements. The rental payments under these leases are charged to expense on a straight-line basis over the non-cancelable term of the lease. The following is a schedule of future minimum lease payments, excluding property taxes and other operating expenses, required under all non-cancelable operating leases (in thousands): | ||||
Years Ending December 31, | Total | |||
Operating | ||||
Leases | ||||
2014 | $ | 972 | ||
2015 | 715 | |||
2016 | 481 | |||
2017 | 447 | |||
2018 | 227 | |||
Thereafter | — | |||
Total minimum lease payments | $ | 2,842 | ||
Rent expense under operating leases amounted to approximately $1.1 million, $1.2 million and $1.1 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
401_K_Savings_Plan
401 (K) Savings Plan | 12 Months Ended |
Dec. 31, 2013 | |
Profit Sharing And Savings Plan [Abstract] | ' |
401(K) Savings Plan | ' |
401(K) Savings Plan | |
Qumu has a savings plan under Section 401(k) of the Internal Revenue Code. The plan allows employees to contribute up to 100% of pretax compensation. The Company matches a percentage of employees’ contributions. Matching contributions totaled $269,000, $306,000 and $289,000 for the years ended December 31, 2013, 2012 and 2011, respectively. |
Business_Segments_Information
Business Segments Information | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Business Segment Information / Major Customers | ' | |||||||||||||||
Business Segment Information / Major Customers | ||||||||||||||||
The Company has two reportable segments: enterprise video content management software and disc publishing. The Company's enterprise video content management software segment allow organizations to capture, organize and distribute content across the extended enterprise to a wide variety of end points, including mobile devices. Qumu's video platform supports both live and on-demand streaming, and also incorporates secure download capabilities. The Company's disc publishing segment provides customers with solutions that archive, distribute and protect content on CDs, DVDs and Blu-ray Discs. The Company markets its products to customers in North America, Europe and Asia. | ||||||||||||||||
Management evaluates segment performance based on revenue and operating income (loss). The measurement of operating income (loss) excludes interest income and expense, other non-operating items and income taxes. The operating income (loss) for the Company’s enterprise video content management software and disc publishing segments include all the direct costs of each business. Beginning with the first quarter of fiscal 2013, the measurement of operating income (loss) by segment includes an allocation of corporate expenses incurred to support each reportable segment. Previously reported amounts included all corporate and other unallocated expenses in the disc publishing segment, a portion of which were incurred to support the enterprise video content management software segment. The Company revised the amounts previously reported in 2012 as operating income (loss) by segment to align to the current period's presentation. This realignment resulted in $3,067,000 of corporate and other unallocated expenses being allocated from the disc publishing segment to the enterprise video content management software segment for the year ended December 31, 2012, and had no effect on previously reported consolidated net revenues or consolidated operating income (loss). Given the timing of the Company's acquisition of Qumu, Inc. in October 2011 and the resulting inclusion of a partial year of financial results for that business, the Company did not revise the amounts previously reported in 2011 to reflect an allocation of corporate expenses from the disc publishing to the enterprise video content management software segment. The Company has not provided specific asset information by segment, as it is not regularly provided to the Company’s chief operating decision maker for review at a segment specific level. | ||||||||||||||||
Net revenue and operating income (loss) were as follows (in thousands): | ||||||||||||||||
Reportable Segments | Enterprise Video Content Management Software | Disc Publishing | Total | |||||||||||||
2013 | ||||||||||||||||
Revenues | $ | 17,736 | $ | 64,736 | $ | 82,472 | ||||||||||
Operating income (loss) (1) | (16,090 | ) | 6,405 | (9,685 | ) | |||||||||||
2012 | ||||||||||||||||
Revenues | 9,836 | 69,607 | 79,443 | |||||||||||||
Operating income (loss) (1) (2) | (46,295 | ) | 6,551 | (39,744 | ) | |||||||||||
2011 | ||||||||||||||||
Revenues | 1,760 | 81,874 | 83,634 | |||||||||||||
Operating income (loss) (1) (3) | (5,211 | ) | 9,659 | 4,448 | ||||||||||||
1 | Operating loss for the enterprise video content management software segment in 2013, 2012 and 2011 includes amortization expense of $1.2 million, $1.7 million and $0.4 million respectively, for amortization of intangible assets established as part of the acquisition of Qumu, Inc. | |||||||||||||||
2 | Operating loss for the enterprise video content management software segment includes recognized asset impairment charges consisting of $22.2 million of goodwill and $7.3 million of other intangible assets for 2012. See Note 8, “Goodwill and Intangible Assets,” for additional information regarding the Company’s intangible assets. | |||||||||||||||
3 | Operating income for the disc publishing segment in 2011 includes $1.7 million of nonrecurring transaction costs associated with the acquisition of Qumu, Inc. | |||||||||||||||
The following represents sales amounts and related accounts receivable balances generated by the Company’s unaffiliated customers that provided more than 10% of consolidated revenues (in thousands): | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
Revenues | 2013 | 2012 | 2011 | |||||||||||||
Customer A | $ | 9,551 | $ | 8,044 | $ | 13,667 | ||||||||||
December 31, | ||||||||||||||||
Accounts Receivable | 2013 | 2012 | 2011 | |||||||||||||
Customer A | $ | 348 | $ | 369 | $ | 430 | ||||||||||
The Company’s revenues from each of its principal geographic regions are presented based on customer location as follows (in thousands): | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
North America | $ | 52,871 | $ | 51,413 | $ | 51,706 | ||||||||||
Europe | 21,980 | 19,414 | 22,083 | |||||||||||||
Other (Asia and Latin America) | 7,621 | 8,616 | 9,845 | |||||||||||||
Total | $ | 82,472 | $ | 79,443 | $ | 83,634 | ||||||||||
Net property and equipment of the Company were located as follows (in thousands): | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
North America | $ | 5,070 | $ | 5,553 | ||||||||||||
Europe | 316 | 356 | ||||||||||||||
Asia | 33 | 57 | ||||||||||||||
Total | $ | 5,419 | $ | 5,966 | ||||||||||||
The Company’s revenues from each of its principal products and services were as follows (in thousands): | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Enterprise video content management software | ||||||||||||||||
Software licenses and appliances | $ | 7,269 | 9 | % | $ | 4,320 | 5 | % | $ | 693 | 1 | % | ||||
Service | 10,467 | 13 | % | 5,516 | 7 | % | 1,067 | 1 | % | |||||||
Total enterprise video content management software | 17,736 | 22 | % | 9,836 | 12 | % | 1,760 | 2 | % | |||||||
Disc publishing | ||||||||||||||||
Disc publishing equipment: | ||||||||||||||||
Producer | 9,119 | 11 | % | 12,285 | 15 | % | 15,788 | 19 | % | |||||||
Professional | 6,609 | 8 | % | 9,517 | 12 | % | 11,939 | 14 | % | |||||||
Desktop | 1,575 | 2 | % | 1,977 | 2 | % | 2,697 | 3 | % | |||||||
Total disc publishing equipment | 17,303 | 21 | % | 23,779 | 30 | % | 30,424 | 36 | % | |||||||
Recurring: | ||||||||||||||||
Consumables and parts | 34,962 | 42 | % | 33,819 | 43 | % | 40,038 | 48 | % | |||||||
Service | 12,471 | 15 | % | 12,009 | 15 | % | 11,412 | 14 | % | |||||||
Total recurring | 47,433 | 58 | % | 45,828 | 58 | % | 51,450 | 62 | % | |||||||
Total disc publishing | 64,736 | 78 | % | 69,607 | 88 | % | 81,874 | 98 | % | |||||||
Total revenue | $ | 82,472 | 100 | % | $ | 79,443 | 100 | % | $ | 83,634 | 100 | % | ||||
Consolidation_of_Join_Venture_
Consolidation of Join Venture Entity and Noncontrolling Interest | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||
Noncontrolling Interest | ' | ||||||||
Noncontrolling Interest | |||||||||
Effective July 3, 2013, the Company received approval from the Chinese government to increase its majority interest in Rimage Information Technology (Shanghai) Co., Ltd. ("RIT") from 51% to 100% by acquiring the remaining common stock from Taiwan Electronic Data Processing for $50,000. The acquisition of the additional shares in RIT was accounted for as an equity transaction in accordance with the accounting standards on noncontrolling interests outlined in ASC 810. As a result of the shares acquired, RIT is now a 100% owned subsidiary of Qumu. The Company continues to consolidate the financial statements of RIT with its consolidated financial statements; however, commencing on July 3, 2013, there is no noncontrolling interest. | |||||||||
The following table sets forth the changes in noncontrolling interest (in thousands): | |||||||||
Years Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Balance at beginning of period | $ | 103 | $ | 360 | |||||
Net loss attributable to noncontrolling interest | (125 | ) | (259 | ) | |||||
Foreign currency translation attributable to noncontrolling interest | 1 | 2 | |||||||
Purchase of noncontrolling interest in consolidated subsidiary | 21 | — | |||||||
Balance at end of period | $ | — | $ | 103 | |||||
Investment_In_Software_Company
Investment In Software Company | 12 Months Ended |
Dec. 31, 2013 | |
Investments, All Other Investments [Abstract] | ' |
Investment In Software Company | ' |
Investment in Software Company | |
As of December 31, 2012, Qumu Corporation's investment in BriefCam aggregated $2.8 million, consisting of $2.3 million in convertible preferred stock and a $500,000 convertible note receivable, resulting in a minority interest of less than 20%. BriefCam is a privately-held Israeli company that develops video synopsis technology to augment security and surveillance systems to facilitate review of surveillance video. On January 16, 2013, the Company converted the aforementioned $500,000 note receivable into BriefCam's convertible preferred stock and concurrently participated in an additional round of funding of BriefCam's preferred stock issuance with a cash investment of approximately $350,000. In connection with the conversion of the note receivable and additional investment in BriefCam, the Company received warrants to purchase additional preferred stock in the same series and at the same price as the investment made in January 2013. Qumu's total investment in BriefCam of $3.1 million as of December 31, 2013 continues to represent a minority ownership of less than 20%. Qumu's investment in BriefCam of $3.1 million and $2.8 million at December 31, 2013 and December 31, 2012, respectively, is included in other non-current assets in the Condensed Consolidated Balance Sheets. | |
Because Qumu's ownership interest is less than 20% and it has no other rights or privileges that enable it to exercise significant influence over the operating and financial policies of BriefCam, Qumu accounts for this equity investment using the cost method. Through its seat on BriefCam's board of directors, Qumu monitors BriefCam's results of operations and business plan, and is not aware of any events or circumstances that would indicate a decline in the carrying value of its investment. |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Contingencies | ' |
Contingencies | |
The Company is exposed to a number of asserted and unasserted claims encountered in the normal course of business. Legal costs related to loss contingencies are expensed as incurred. In the opinion of management, the resolution of these matters will not have a material adverse effect on the Company’s financial position or results of operations. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
On March 10, 2014, the Company’s Board of Directors approved an amendment to the Company’s shareholder rights agreement, originally adopted on September 16, 2003 and amended effective September 17, 2013. The amendment dated March 10, 2014 accelerates the expiration date of the agreement from September 16, 2016 to March 21, 2014, effectively terminating the agreement as of that date. |
Supplemental_Quarterly_Data_Un
Supplemental Quarterly Data - Unaudited (In thousands, except per share data) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Supplemental Income Statement Elements [Abstract] | ' | |||||||||||||||||||||||||||||||
Supplemental Quarterly Data - Unaudited | ' | |||||||||||||||||||||||||||||||
Supplemental Quarterly Data – Unaudited (In thousands, except per share data) | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
Fourth | Third | Second | First | Fourth | Third | Second | First | |||||||||||||||||||||||||
Revenues | $ | 20,655 | $ | 21,073 | $ | 21,248 | $ | 19,496 | $ | 20,749 | $ | 20,949 | $ | 18,284 | $ | 19,461 | ||||||||||||||||
Cost of revenues | 10,701 | 11,151 | 10,798 | 10,262 | 10,096 | 10,811 | 9,987 | 9,888 | ||||||||||||||||||||||||
Gross profit | 9,954 | 9,922 | 10,450 | 9,234 | 10,653 | 10,138 | 8,297 | 9,573 | ||||||||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||||||||||
Research and development | 2,847 | 2,774 | 3,225 | 3,357 | 2,909 | 2,958 | 2,894 | 3,105 | ||||||||||||||||||||||||
Selling, general and administrative | 9,727 | 8,044 | 8,927 | 9,716 | 8,900 | 9,077 | 8,866 | 9,196 | ||||||||||||||||||||||||
Goodwill and intangible asset impairment charge | — | — | — | — | — | 29,548 | — | — | ||||||||||||||||||||||||
Amortization of intangibles | 157 | 158 | 156 | 157 | 157 | 284 | 264 | 247 | ||||||||||||||||||||||||
Total operating expenses | 12,731 | 10,976 | 12,308 | 13,230 | 11,966 | 41,867 | 12,024 | 12,548 | ||||||||||||||||||||||||
Operating loss | (2,777 | ) | (1,054 | ) | (1,858 | ) | (3,996 | ) | (1,313 | ) | (31,729 | ) | (3,727 | ) | (2,975 | ) | ||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||
Interest, net | 4 | 9 | 4 | 11 | 27 | 27 | 19 | 2 | ||||||||||||||||||||||||
Gain (loss) on currency exchange | (35 | ) | 25 | (108 | ) | (107 | ) | (83 | ) | 23 | (13 | ) | (72 | ) | ||||||||||||||||||
Other, net | 2 | 2 | 1 | (1 | ) | 12 | 14 | (2 | ) | 2 | ||||||||||||||||||||||
Total other income (loss), net | (29 | ) | 36 | (103 | ) | (97 | ) | (44 | ) | 64 | 4 | (68 | ) | |||||||||||||||||||
Loss before income taxes | (2,806 | ) | (1,018 | ) | (1,961 | ) | (4,093 | ) | (1,357 | ) | (31,665 | ) | (3,723 | ) | (3,043 | ) | ||||||||||||||||
Income tax expense (benefit) | (57 | ) | (1 | ) | 53 | (54 | ) | (199 | ) | 11,184 | (902 | ) | (1,274 | ) | ||||||||||||||||||
Net loss | (2,749 | ) | (1,017 | ) | (2,014 | ) | (4,039 | ) | (1,158 | ) | (42,849 | ) | (2,821 | ) | (1,769 | ) | ||||||||||||||||
Net loss attributable to the noncontrolling interest | — | — | 63 | 62 | 43 | 81 | 71 | 64 | ||||||||||||||||||||||||
Net loss attributable to Qumu | $ | (2,749 | ) | $ | (1,017 | ) | $ | (1,951 | ) | $ | (3,977 | ) | $ | (1,115 | ) | $ | (42,768 | ) | $ | (2,750 | ) | $ | (1,705 | ) | ||||||||
Net loss per basic and diluted share | $ | (0.32 | ) | $ | (0.12 | ) | $ | (0.22 | ) | $ | (0.46 | ) | $ | (0.12 | ) | $ | (4.23 | ) | $ | (0.27 | ) | $ | (0.17 | ) |
Schedule_II_Valuation_Qualifyi
Schedule II. Valuation & Qualifying Accounts | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||
Schedule II - Valuation and Qualifying Accounts | ' | |||||||||||
Valuation and Qualifying Accounts | ||||||||||||
(In thousands) | ||||||||||||
Allowance for Doubtful Accounts Receivable: | Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 203 | $ | 143 | $ | 201 | ||||||
Write-offs | (67 | ) | (20 | ) | (45 | ) | ||||||
Recoveries | — | — | — | |||||||||
Change in provision | 47 | 80 | (13 | ) | ||||||||
Balance at end of year | $ | 183 | $ | 203 | $ | 143 | ||||||
See accompanying report of Independent Registered Public Accounting Firm. |
Nature_Of_Business_And_Summary1
Nature Of Business And Summary Of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation and Nature of Business | ' | |
Basis of Presentation and Nature of Business | ||
In September 2013, the Board of Directors of Rimage Corporation approved a change in the Company's name from Rimage Corporation to Qumu Corporation (Nasdaq: QUMU). The name change became effective on September 16, 2013. | ||
The consolidated financial statements include the accounts of Qumu Corporation, its subsidiaries, and prior to July 2013, its majority-owned joint venture, collectively hereinafter referred to as “Qumu” or the “Company.” All references to Qumu, Inc. shall mean the Company's subsidiary located in San Bruno, California. All intercompany accounts and transactions have been eliminated in consolidation. | ||
Qumu’s enterprise video content management software business provides the tools businesses need to create, manage, secure, distribute and measure the success of their videos and other rich content they create and publish. Qumu’s disc publishing business provides customers with industry-leading solutions that label, archive, distribute and protect content on CDs, DVDs and Blu-ray Discs. The Company markets its products to customers in North America, Europe and Asia. | ||
Revenue Recognition | ' | |
Revenue Recognition | ||
Through the third quarter of 2011, the Company earned revenues through the sale of tangible products, consisting primarily of equipment and consumables. As part of its product offering, the Company also sells optional services, consisting primarily of separately-priced maintenance contracts and installation services. Beginning with the acquisition of Qumu, Inc. in October 2011, the Company also earns revenues through the sale of software and software-based solutions. Software sales may take the form of a software license, a software license on a server appliance or a cloud-hosted software service. The Company also sells software-enabled devices, software maintenance support contracts and professional and managed services as part of the enterprise video content management software product offering. | ||
The following minimum criteria must be satisfied to enable revenue recognition for the Company's products and services: | ||
• | Persuasive evidence of an arrangement exists. Customer orders are received for all sales, either through non-cancelable contracts or purchase orders, and sales invoices are sent upon delivery of the product. | |
• | Delivery has occurred. Product has been transferred to the customer or the customer's designated delivery agent, at which time risk of loss transfers. In the case of licensed software, delivery occurs upon providing the customer access to the software by electronic download. | |
• | The sales price is fixed or determinable. All sales prices are fixed at the time of the sale. | |
• | Collectability is reasonably assured. All sales are made on the basis that collection is expected in line with the Company's payment terms as outlined in the non-cancelable purchase order or contract, and such terms are consistent with industry practice in the geographies in which the Company markets its products. | |
The following provides additional information regarding the Company's revenue recognition policies by business segment. | ||
Enterprise Video Content Management Software Revenue | ||
Revenue generated by the enterprise video content management software business includes the sale of software licenses, software licensed on a server appliance and software-enabled devices sold through non-cancelable licensing agreements under either perpetual or subscription arrangements. These arrangements most often include maintenance support and may also include professional services or managed services. The enterprise video content management software business also generates revenues through the sale of cloud-hosted software services, delivered as a Software-as-a-Service (SaaS) platform. | ||
For arrangements that include both software-related and non-software-related elements, the Company allocates revenue to the software deliverables and non-software deliverables based on relative selling price. In such circumstances, the accounting principles establish a hierarchy to determine the selling price to be used for allocating revenue to deliverables as follows: a) vendor-specific objective evidence (VSOE) of selling price, b) third-party evidence of selling price and c) best estimate of selling price (estimated selling price). When the Company is unable to establish a selling price using VSOE or third party evidence, it uses the estimated selling price to allocate the arrangement fees to the deliverables. Revenue for non-software elements is generally determined based on third party evidence of selling price or estimated selling price and is recognized upon delivery, to the extent all other criteria required for revenue recognition have been met. Revenue for software-related elements is recognized as described below. | ||
For software-related elements included in sales arrangements, the Company utilizes the residual method to recognize revenue. Under the residual method, revenue is recognized in a multiple-element arrangement in which VSOE of fair value exists for all of the undelivered elements in the arrangement, but does not exist for one or more of the delivered elements in the arrangement. The Company has determined that it has VSOE for its maintenance support as well as its professional services. The Company has established VSOE for the fair value of the maintenance contracts based on the price charged when the element is sold separately. The fair value of the professional services can generally be established based on the rates charged for those services when sold separately. If evidence of fair value cannot be established for any undelivered elements of a license agreement, the entire amount of revenue from the arrangement is deferred until evidence of fair value can be established, or until the items are delivered. If the only undelivered element is maintenance, then the entire amount of revenue is recognized over the maintenance delivery period. | ||
Revenue from maintenance contracts providing technical support and software update and upgrade rights is recognized ratably over the term of the maintenance contracts. Since the Company is generally able to determine VSOE for the professional service revenues and these services are not essential to the functionality of the software, revenue from such services is recognized as the services are performed. | ||
When VSOE has been established for all undelivered elements, revenue from software sold under a perpetual license is recognized when an agreement has been signed, delivery of the product has occurred, the fee is fixed or determinable, collectability is probable, and the arrangement does not require undelivered services that are essential to the functionality of the software. | ||
The Company also sells the software licenses and bundled maintenance under a subscription arrangement. In these arrangements, the software is installed on an appliance that is housed on the customer's premises. Subscription arrangements typically have contractual terms of one year or longer and associated revenue is generally recognized ratably over the contract term beginning on the commencement date of the contract to the extent all other criteria required for revenue recognition have been met. | ||
In 2013, the Company began selling its software licenses and bundled maintenance as part of cloud-hosted or hybrid-cloud environments under subscription arrangements, which typically have non-cancelable contractual terms of one-year or more. Due to timing of introduction, revenues in 2013 from cloud-hosted arrangements were limited. Cloud-hosted arrangements are delivered as a SaaS platform, offering a fully managed virtual solution which consists of a cloud-based instance of the Qumu Video Control Center and other software. Hybrid-cloud arrangements augment the cloud instance of the software with Qumu VideoNet Edge devices installed on the customer's premises, which enables quality streaming to audiences inside and outside corporate firewalls from the Cloud. The Company’s cloud-hosted arrangements provide customers the right to access its hosted software applications; however, customers do not have the contractual right or ability to take possession of the Company’s software during the hosted arrangement. Revenues in 2013 from cloud-hosted arrangements were derived primarily from two sources: (1) the subscription for the SaaS technology and (2) optional professional services, which provide follow-on best practices consulting and training services after the cloud-hosted solution is deployed. | ||
The Company generally recognizes revenue for cloud-hosted and hybrid-cloud arrangements ratably over the noncancelable term of the agreement, commencing upon the later of when the application is placed into a production environment or when all revenue recognition criteria have been met. Professional services revenue associated with cloud-hosted arrangements is recognized as the services are performed. Fees for the set-up of the cloud-hosted environment, if applicable, are recognized over the contractual term of the arrangement as it is not practical at this early stage of the product offering to estimate the life of the customer relationship. | ||
Disc Publishing Revenue | ||
Revenue for product sales (including equipment and consumables), which do not include any requirement for installation or training, is recognized on shipment or delivery, to the extent all other criteria required for revenue recognition have been met. | ||
Revenue for separately-priced maintenance contracts and installation services associated with the Company's disc publishing products is deferred until earned. A standard product sale by the Company does not require a commitment on the Company's part to provide installation, set-up or training. When such services are requested, value-added resellers generally arrange and perform the service directly with the customer, with no financial interest or obligation on the part of the Company. In the situations in which the Company does provide installation or training services for customers, the Company charges separately for the service based upon its published list prices and recognizes the associated service revenue upon the successful completion of the service. | ||
In an arrangement including disc publishing equipment, separately-priced maintenance and installation services, the amount deferred and recognized as revenue over the contract period for a separately-priced maintenance contract is the stated amount of the contract. The remaining consideration is allocated to the equipment and the installation service using the relative selling price method. The relative selling price is determined based on the Company's stand-alone selling prices, or in the absence of stand-alone selling prices, estimated selling price for the equipment and installation service. | ||
A limited number of multiple-element sales arrangements targeted for the law enforcement sector of the Company's disc publishing business include both software-related and non-software elements. For these transactions, arrangement consideration is allocated between the software-related and non-software elements based on relative selling price. As the Company has not established VSOE for the software maintenance element of such arrangements, revenue associated with the software-related elements, e.g., software and associated maintenance support, is deferred and recognized over the term of the maintenance agreement. Revenue for the non-software elements is determined based on estimated selling price and recognized upon delivery, to the extent all other criteria required for revenue recognition have been met. | ||
Sales Returns | ' | |
Sales Returns | ||
The Company records an allowance for sales returns of its disc publishing products. The amount of the allowance is based upon historical trends, timing of new product introductions and other factors. The Company does not generally accept returns of its enterprise video content management software products. | ||
Allowance for Doubtful Accounts | ' | |
Allowance for Doubtful Accounts | ||
The Company records an allowance for doubtful accounts for potentially uncollectible receivables. The allowance is established based on a specific assessment of accounts with known collection exposure, based upon a review of the age of the receivable, the customer’s payment history, the customer’s financial condition and industry and general economic conditions, as well as a general assessment of collection exposure in the remaining receivable population based upon the Company’s bad debt history. Actual bad debt exposure could differ significantly from management’s estimates if economic conditions worsened for the Company’s customers. The uncollectible portion of receivables is charged against the allowance for doubtful accounts when collection efforts have ceased. Recoveries of receivables previously charged-off are recorded when received. | ||
Deferred Commissions | ' | |
Deferred Commissions | ||
Sales commissions represent the direct incremental costs related to the acquisition of a sales contract that would not have been incurred but for the acquisition of that contract. The Company recognizes commissions as selling, general and administrative expense at the time the associated product revenue is recognized, requiring establishment of a deferred cost in the event a commission is paid prior to recognition of revenue. In the case of a term, cloud-hosted or subscription arrangement where revenue is recognized over the term of the contract, the associated deferred commission is amortized to expense over the non-cancelable term of the arrangement. The deferred commission amounts are recoverable through the related future revenue streams under non-cancelable customer contracts and also commission clawback provisions in the Company's sales compensation plans for its enterprise video content management software business. The Company believes this is the preferable method of accounting as the commission costs are so closely related to the revenue from the customer contracts that they should be expensed over the same period that the related revenue is recognized. The Company recorded deferred commission costs of $0.3 million and $0.2 million at December 31, 2013 and 2012, respectively. | ||
Cash Equivalents | ' | |
Cash Equivalents | ||
All short-term investments with original maturities of three months or less at date of purchase are considered cash equivalents. | ||
Marketable Securities | ' | |
Marketable Securities | ||
Marketable securities generally consist of U.S. treasury bills and certificates of deposit. Marketable securities are classified as short-term in the accompanying Consolidated Balance Sheets based on their effective maturity date. All marketable securities have original maturities ranging from three to twelve months. Marketable securities are classified as available-for-sale. Available-for-sale securities are recorded at fair value and any unrealized holding gains and losses, net of the related tax effect, are excluded from earnings and are reported as a separate component of accumulated other comprehensive income (loss) until realized. See Note 5, “Fair Value Measurements,” for a discussion of inputs used to measure the fair value of the Company’s available-for-sale securities. | ||
Sources of Supply | ' | |
Sources of Supply | ||
The Company outsources to third parties the assembly and design of certain appliances for its enterprise video content management software business, including its VideoNet Edge server and Qumu Capture Studio. Alternative supply sources are available for these products; however, a transition period would be required to secure such alternative sources. | ||
Many of the purchased components used to assemble the Company’s disc publishing products are standard parts and are readily available. Other components and subassemblies are manufactured to the Company’s specifications. For the majority of the Company’s critical disc publishing components, the Company has identified alternative suppliers. The Company depends upon a single-source supplier for its Everest printers and Rimage Disc Publishing Professional Series systems, which are a significant source of the Company’s sales. For these products, it is more difficult to identify an alternative supplier because of the proprietary information and technology currently held by this supplier. Although the Company owns the rights to the technology, if the Company were unable to effectively transition the technology and proprietary information used by this supplier to alternative suppliers, the design and manufacture of these products to the Company’s specifications may be significantly delayed, resulting in potential production delays and significant expense. Further, if the Company obtains a new supplier for a component or product or uses an alternative component in its product, the Company may need to conduct additional testing of its products to ensure the product meets its quality and performance standards. Any delays in delivery of its product to end-users, resellers or distributors could be extended, and costs associated with the change in product manufacturing could increase. | ||
Inventories | ' | |
Inventories | ||
Inventories are stated at the lower of cost or market. Cost is determined on a first-in, first-out (FIFO) basis. The Company records provisions for inventory shrinkage and for potential excess, obsolete and slow moving inventory. The amounts of these provisions are based upon usage, historical loss trends, inventory levels, expected product lives and forecasted sales demand. Results could be materially different if demand for the Company’s products decreased because of economic or competitive conditions, or if products became obsolete because of technical advancements in the industry or by the Company. | ||
Property and Equipment | ' | |
Property and Equipment | ||
Property and equipment are stated at cost and depreciated on a straight-line basis over estimated useful lives ranging from two to seven years for most assets, and 15 years for the Company’s headquarters facility purchased in September 2008. Leasehold improvements are amortized using the straight-line method over the shorter of the property’s useful life or the term of the underlying lease. Repairs and maintenance costs are charged to operations as incurred. | ||
Goodwill and Other Intangible Assets | ' | |
Goodwill and Other Intangible Assets | ||
Intangible assets acquired include both those that have a determinable life and residual goodwill. Intangible assets with a determinable life include trade names, developed technology, in-process research and development, customer relationships and software with estimates of recoverability ranging from 5 to 15 years that are amortized on a straight-line basis. The Company assesses intangible assets with a determinable life for impairment consistent with its policy for assessing other long-lived assets. | ||
The Company's policy is to test goodwill for impairment annually during its fourth quarter or more frequently if changes in circumstances or the occurrence of events suggest impairment exists. See Note 8, "Goodwill and Intangible Assets" for a rollforward of the carrying value of goodwill and intangible assets and further discussion of the goodwill and intangible asset impairments recorded during the three months ended September 30, 2012. The goodwill impairment charge resulted in a full retirement of the value of this asset as of September 30, 2012. | ||
Impairment of Long-lived Assets | ' | |
Impairment of Long-lived Assets | ||
Long-lived assets at December 31, 2013 consisted of property and equipment, including capitalized internally developed software costs; acquired intangible assets; and software source code. The Company reviews the carrying amount of its long-lived assets when events or changes in circumstances such as market value, asset utilization, physical change, legal factors or other matters indicate that the carrying amount of the assets may not be recoverable. When this review indicates the carrying amount of an asset or asset group exceeds the sum of the future undiscounted cash flows expected to be generated by the assets, the Company recognizes an asset impairment charge against operations for the amount by which the carrying amount of the impaired asset exceeds its fair value. Considerable judgment is required in the evaluation of whether certain events or circumstances lead to an indication of impairment, and in the assumptions used in determining the amount and period over which future revenues are expected to be earned, related costs, terminal values and discount rates. | ||
Investment in Nonconsolidated Company | ' | |
Investment in Nonconsolidated Company | ||
The Company holds a long-term, strategic investment in BriefCam, a software company. The Company accounts for this investment under the cost method of accounting. This investment is included in other non-current assets in the Consolidated Balance Sheets. See Note 16 under the Notes to Consolidated Financial Statements in this Form 10-K for additional information on the Company's investment in BriefCam. Equity securities accounted for under the cost method are reviewed quarterly for changes in circumstances or the occurrence of events that suggest the Company’s investment may not be fully recoverable. If an unrealized loss for the investment is considered to be other-than-temporary, the loss will be recognized in the Consolidated Statements of Operations in the period the determination is made. | ||
Product Warranty | ' | |
Product Warranty | ||
The Company’s non-consumable hardware products are warranted to the end-user to ensure confidence in design, workmanship and overall quality for a period of 12 months. Warranty covers parts, labor and other associated expenses. The Company performs the majority of warranty work, while authorized distributors and dealers also perform some warranty work. Warranty expense is accrued during the warranty period based on an analysis of historical claims experience, which includes labor, freight and parts costs, with consideration of the proportion of parts that can be re-used. | ||
Stock-Based Compensation | ' | |
Stock-Based Compensation | ||
The Company measures the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant. The cost is recognized on a straight-line basis over the period during which an employee is required to provide services in exchange for the entire award. The benefits of tax deductions in excess of recognized compensation expense is reported as a financing cash flow. The Company issues new shares of its common stock to satisfy employee equity awards. | ||
The Company recognizes stock-based compensation on a straight-line basis over the vesting period and net of an estimated forfeiture rate, resulting in the recognition of compensation cost for only those shares expected to vest. Compensation cost is recognized for all awards over the vesting period to the extent the employees or directors meet the requisite service requirements, whether or not the award is ultimately exercised. Conversely, when an employee or director does not meet the requisite service requirements and forfeits the award prior to vesting, any compensation expense previously recognized for the award is reversed. See Note 3, "Stock-Based Compensation" for additional information on stock-based compensation. | ||
Research and Development Costs | ' | |
Research and Development Costs | ||
Research and development costs relate to hardware and software development and enhancements to existing products. The Company expenses research and development costs, including costs to develop software products to be marketed to external users, before technological feasibility of such products is reached. The Company believes its software development process is essentially completed concurrent with the establishment of technological feasibility; accordingly, development costs are expensed as incurred. | ||
Income Taxes | ' | |
Income Taxes | ||
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided to offset deferred tax assets if, based on the available evidence, it is more likely than not that some or all of the deferred tax asset will not be realized. | ||
Net Income (Loss) Per Share | ' | |
Net Income (Loss) Per Share | ||
Basic net income (loss) per share is calculated as income (loss) available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per share includes the potentially dilutive effect of common shares issued in connection with outstanding stock options using the treasury stock method and the dilutive effect of restricted stock units. | ||
The Company calculates net income (loss) per share pursuant to the two-class method which requires all outstanding unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) to be considered participating securities and included in the computation of basic and diluted earnings per share using the two-class method. | ||
Foreign Currency Translation | ' | |
Foreign Currency Translation | ||
The functional currency for each of the Company’s international subsidiaries is the respective local currency. The assets and liabilities of the Company’s international entities are translated into U.S. dollars using period-end exchange rates, while revenues and expenses are translated at average exchange rates prevailing during the year. The resulting translation adjustments are recorded as a separate component of stockholders’ equity in accumulated other comprehensive income (loss). The Company recorded gains (losses) on foreign currency translation in comprehensive income (loss) of $67,000, ($10,000) and ($89,000) for the years ended December 31, 2013, 2012 and 2011, respectively. | ||
Comprehensive Income (Loss) | ' | |
Comprehensive Income (Loss) | ||
Comprehensive income (loss) consists of the Company’s net income (loss), foreign currency translation adjustments, and unrealized holding gains and losses from available-for-sale marketable securities and is presented separately in the Consolidated Statements of Comprehensive Income (Loss). | ||
Operating Leases | ' | |
Operating Leases | ||
The Company leases certain facilities and some of its equipment under non-cancelable operating lease arrangements. The rental payments under these leases are charged to expense on a straight-line basis over the non-cancelable term of the lease. | ||
Taxes Collected From Customers | ' | |
Taxes Collected From Customers | ||
Sales taxes charged to and collected from customers as part of the Company’s sales transactions are excluded from revenues and recorded as a liability to the applicable governmental taxing authority. | ||
Shipping and Handling Charges and Related Costs | ' | |
Shipping and Handling Charges and Related Costs | ||
Shipping and handling charges collected from customers as part of the Company's sales transactions are included in revenues and the associated costs are included in cost of revenues in the accompanying Consolidated Statements of Operations. | ||
Use of Estimates | ' | |
Use of Estimates | ||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from estimates on items such as allowance for doubtful accounts and sales returns, inventory provisions, asset impairment charges, deferred tax asset valuation allowances, accruals for uncertain tax positions and warranty accruals. These estimates and assumptions are based on management’s best judgment. Management evaluates estimates and assumptions on an ongoing basis using its technical knowledge, historical experience and other factors, including consideration of the impact of the current economic environment. Management believes its assumptions are reasonable and adjusts such estimates and assumptions when facts and circumstances change. Illiquid credit markets, volatile equity, foreign currency and energy markets, and declines in business and consumer spending have combined to increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Any required changes in those estimates will be reflected in the financial statements in future periods. | ||
New Accounting Pronouncements | ' | |
New Accounting Pronouncements | ||
In February 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. The guidance is effective for annual and interim periods beginning after December 15, 2012. The Company adopted ASU 2013-02 on January 1, 2013 and its adoption did not have a material impact on the Company’s financial position or results of operations. | ||
In July 2013, the FASB issued ASU No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists”. ASU 2013-11 requires an entity to net its liability for unrecognized tax benefits against the deferred tax assets for all same jurisdiction net operating losses or similar tax loss carryforwards, or tax credit carryforwards. A gross presentation will be required only if such carryforwards are not available as of the reporting date to settle any additional income taxes resulting from disallowance of the uncertain tax position or the entity does not intend to use these carryforwards for this purpose. The new guidance is effective on a prospective basis for fiscal years beginning after December 15, 2013 and interim periods within those years. This new guidance is not expected to have a material impact on the Company’s financial position or results of operations. |
Nature_Of_Business_And_Summary2
Nature Of Business And Summary Of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Warranty accrual rollforward, including provisions and claims | ' | ||||||||||||||||||||
The warranty accrual rollforward, including provisions and claims, is as follows (in thousands): | |||||||||||||||||||||
Years Ended: | Beginning | Warranty | Warranty | Foreign | Ending | ||||||||||||||||
Balance | Provisions | Claims | Exchange Impact | Balance | |||||||||||||||||
December 31, 2013 | $ | 239 | $ | 237 | $ | (283 | ) | $ | (4 | ) | $ | 189 | |||||||||
December 31, 2012 | 296 | 409 | (463 | ) | (3 | ) | 239 | ||||||||||||||
December 31, 2011 | 231 | 630 | (565 | ) | — | 296 | |||||||||||||||
Acquisition_Of_Qumu_Inc_Tables
Acquisition Of Qumu, Inc. (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Preliminary purchase accounting allocation of total purchase price | ' | |||||||
The following table summarizes the purchase accounting allocation of the total purchase price to Qumu, Inc.'s net tangible and intangible assets, with the residual allocated to goodwill (in thousands). | ||||||||
Aggregate purchase price | $ | 51,275 | ||||||
Less: discount applied to Qumu Corporation stock for trade restrictions | (1,955 | ) | ||||||
Net transaction consideration | $ | 49,320 | ||||||
Current assets | $ | 5,213 | ||||||
Property and equipment | 390 | |||||||
Intangible assets | 18,900 | |||||||
Goodwill | 22,218 | |||||||
Net deferred tax assets | 7,229 | |||||||
Current liabilities | (4,630 | ) | ||||||
Total net assets acquired | $ | 49,320 | ||||||
Unaudited pro forma results | ' | |||||||
The following table contains unaudited pro forma consolidated results for the year ended December 31, 2011 as if the Qumu, Inc. acquisition had occurred on January 1, 2010 (in thousands, except per share data). | ||||||||
Year Ended December 31, 2011 | ||||||||
Reported | Pro Forma | |||||||
(Unaudited) | ||||||||
Net sales | $ | 83,634 | $ | 94,092 | ||||
Net earnings | 2,835 | 308 | ||||||
Net earnings per share: | ||||||||
Basic and Diluted | $ | 0.29 | $ | 0.03 | ||||
StockBased_Compensation_Common
Stock-Based Compensation, Common Stock Repurchases and Dividends (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Schedule of share-based payment arrangements | ' | |||||||||||||
The Company recognized the following amounts related to the Company’s share-based payment arrangements (in thousands): | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Stock-based compensation cost charged against income, before income tax benefit | ||||||||||||||
Stock options | $ | 1,145 | $ | 1,387 | $ | 1,447 | ||||||||
Restricted stock and restricted stock units | 633 | 737 | 534 | |||||||||||
Total | $ | 1,778 | $ | 2,124 | $ | 1,981 | ||||||||
Stock-based compensation cost included in: | ||||||||||||||
Cost of revenues | $ | 141 | $ | 137 | $ | 124 | ||||||||
Operating expenses | 1,637 | 1,987 | 1,857 | |||||||||||
Total | $ | 1,778 | $ | 2,124 | $ | 1,981 | ||||||||
Income tax benefit related to stock-based compensation included in net income | $ | — | $ | — | $ | (692 | ) | |||||||
Schedule of assumptions used to determine the fair value of stock options awards granted | ' | |||||||||||||
The fair value of each option award is estimated at the date of grant using the Black-Scholes option pricing model. The assumptions used to determine the fair value of stock option awards granted were as follows: | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Expected life of options in years | 2.0 - 4.75 | 4.75 | 4.75 | |||||||||||
Risk-free interest rate | 0.34% - 1.34% | 0.59% - 0.94% | 0.80% - 2.05% | |||||||||||
Expected volatility | 31.5% - 43.7% | 43.8% - 46.9% | 46.2% - 48.4% | |||||||||||
Expected dividend yield | 0.00% | 0.0% - 9.9% | 2.7% - 6.1% | |||||||||||
Schedule of share-based compensation pertaining to stock options | ' | |||||||||||||
Other information pertaining to options is as follows (in thousands, except per share data): | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Fair value of options granted | $ | 1,382 | $ | 1,288 | $ | 1,838 | ||||||||
Per share weighted average fair value of options granted | $ | 3.55 | $ | 2.44 | $ | 3.13 | ||||||||
Total intrinsic value of stock options exercised | $ | 2 | $ | — | $ | 240 | ||||||||
A summary of share option activity for the year ended December 31, 2013 is presented in the table below (in thousands, except per share data): | ||||||||||||||
Shares | WAEP* | Weighted | Aggregate | |||||||||||
Average | Intrinsic Value** | |||||||||||||
Remaining | ||||||||||||||
Contractual Term | ||||||||||||||
(in years) | ||||||||||||||
Options outstanding at December 31, 2012 | 1,925 | $ | 13.81 | |||||||||||
Granted | 389 | 11.78 | ||||||||||||
Exercised | (1 | ) | 9.26 | |||||||||||
Canceled | (565 | ) | 15.1 | |||||||||||
Options outstanding at December 31, 2013 | 1,748 | $ | 12.95 | 4.45 | $ | 3,415 | ||||||||
Options subject to exercise at | 881 | $ | 15.55 | 3.13 | $ | 756 | ||||||||
31-Dec-13 | ||||||||||||||
*Weighted Average Exercise Price | ||||||||||||||
**Aggregate intrinsic value includes only those options with intrinsic value (options where the exercise price is below the market value). | ||||||||||||||
Nonvested restricted stock shares activity | ' | |||||||||||||
A summary of the status of the Company’s nonvested shares and share units as of December 31, 2013 and changes during the year ended December 31, 2013 is presented in the table below (in thousands, except per share data): | ||||||||||||||
Number of Shares | Weighted Average | |||||||||||||
Grant-Date Fair Value | ||||||||||||||
Nonvested at December 31, 2012 | 150 | $ | 11.21 | |||||||||||
Granted | 55 | 10.14 | ||||||||||||
Vested | (66 | ) | 10.72 | |||||||||||
Canceled | (21 | ) | 11.46 | |||||||||||
Nonvested at December 31, 2013 | 118 | $ | 10.94 | |||||||||||
Schedule of share-based compensation pertaining to restricted stock and restricted stock units | ' | |||||||||||||
Other information pertaining to restricted stock and restricted stock units is as follows (in thousands, except per share data): | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Per share weighted average grant-date fair value of restricted stock and restricted stock units granted | $ | 10.14 | $ | 8.63 | $ | 13.19 | ||||||||
Total fair value of restricted stock and restricted stock units vested | $ | 593 | $ | 394 | $ | 349 | ||||||||
Schedule of repurchase activity | ' | |||||||||||||
A summary of the Company's repurchase activity is presented in the table below (in thousands, except per share data): | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Common stock shares repurchased under Board authorized plan | — | 1,569 | 459 | |||||||||||
Average purchase price per share | $ | — | $ | 6.22 | $ | 13.15 | ||||||||
Shares available under Board authorizations at December 31, 2013 | 778 | |||||||||||||
Schedule of quarterly cash dividends authorized and paid | ' | |||||||||||||
The following table sets forth the quarterly cash dividends authorized and paid by the Company in 2012 (in thousands, except per share amounts): | ||||||||||||||
Date of Declaration | Date of Payment | Dividend per Share | Total Dividends Paid | |||||||||||
First Quarter | 2/21/12 | 3/20/12 | $ | 0.17 | $ | 1,738 | ||||||||
Second Quarter | 4/24/12 | 6/15/12 | 0.17 | 1,730 | ||||||||||
Third Quarter | 7/24/12 | 9/14/12 | 0.17 | 1,712 | ||||||||||
Fourth Quarter | — | — | — | — | ||||||||||
Total | $ | 0.51 | $ | 5,180 | ||||||||||
Marketable_Securities_Tables
Marketable Securities (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Marketable Securities [Abstract] | ' | ||||||||||||||
Schedule of marketable securities | ' | ||||||||||||||
Marketable securities consisted of the following (in thousands): | |||||||||||||||
31-Dec-13 | |||||||||||||||
Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair value | ||||||||||||
Certificates of deposit | $ | 13,250 | $ | — | $ | (17 | ) | $ | 13,233 | ||||||
Total marketable securities | $ | 13,250 | $ | — | $ | (17 | ) | $ | 13,233 | ||||||
31-Dec-12 | |||||||||||||||
Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair value | ||||||||||||
Certificates of deposit | $ | 6,500 | $ | — | $ | (1 | ) | $ | 6,499 | ||||||
Treasury bills | 14,996 | 1 | — | 14,997 | |||||||||||
Total marketable securities | $ | 21,496 | $ | 1 | $ | (1 | ) | $ | 21,496 | ||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Schedule of assets and liabilities measured at fair value on a recurring basis | ' | |||||||||||||||
The Company’s assets and liabilities measured at fair value on a recurring basis and the fair value hierarchy utilized to determine such fair values is as follows at December 31, 2013 and 2012 (in thousands): | ||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||
Total Fair | Quoted Prices in | Significant Other | Significant | |||||||||||||
Value at | Active Markets | Observable | Unobservable | |||||||||||||
31-Dec-13 | (Level 1) | Inputs | Inputs | |||||||||||||
(Level 2) | (Level 3) | |||||||||||||||
Assets: | ||||||||||||||||
Certificates of deposit | $ | 13,233 | $ | 13,233 | $ | — | $ | — | ||||||||
Foreign currency forward exchange contracts | 14 | — | 14 | — | ||||||||||||
Total assets | $ | 13,247 | $ | 13,233 | $ | 14 | $ | — | ||||||||
Fair Value Measurements Using | ||||||||||||||||
Total Fair | Quoted Prices in | Significant Other | Significant | |||||||||||||
Value at | Active Markets | Observable | Unobservable | |||||||||||||
31-Dec-12 | (Level 1) | Inputs | Inputs | |||||||||||||
(Level 2) | (Level 3) | |||||||||||||||
Assets: | ||||||||||||||||
Certificates of deposit | $ | 6,499 | $ | 6,499 | $ | — | $ | — | ||||||||
Treasury bills | 14,997 | 14,997 | — | — | ||||||||||||
Total assets | $ | 21,496 | $ | 21,496 | $ | — | $ | — | ||||||||
Liabilities: | ||||||||||||||||
Foreign currency forward exchange contracts | $ | 8 | $ | — | $ | 8 | $ | — | ||||||||
Total liabilities | $ | 8 | $ | — | $ | 8 | $ | — | ||||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of inventories | ' | |||||||
Inventories consisted of the following (in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Finished goods and demonstration equipment | $ | 1,605 | $ | 2,677 | ||||
Purchased parts and subassemblies | 2,497 | 3,359 | ||||||
Total inventories | $ | 4,102 | $ | 6,036 | ||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Schedule of property and equipment | ' | |||||||
Property and equipment consisted of the following (in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Land and land improvements | $ | 1,096 | $ | 1,096 | ||||
Building and building improvements | 2,961 | 2,955 | ||||||
Manufacturing equipment | 5,643 | 5,610 | ||||||
Development fixtures and equipment | 693 | 693 | ||||||
Data equipment and furniture | 8,693 | 7,849 | ||||||
Leasehold improvements | 2,162 | 2,162 | ||||||
21,248 | 20,365 | |||||||
Less accumulated depreciation and amortization | (15,829 | ) | (14,399 | ) | ||||
Total property, plant & equipment, net | $ | 5,419 | $ | 5,966 | ||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||
Changes In Goodwill And Intangible Assets | ' | ||||||||||||||
Changes in the Company's intangible assets consisted of the following (in thousands): | |||||||||||||||
Estimated Life | 31-Dec-12 | Additions/ Amortization | Other Net Adjustments | 31-Dec-13 | |||||||||||
Intangible Assets: | |||||||||||||||
Customer relationships | 10 | $ | 2,982 | $ | — | $ | — | $ | 2,982 | ||||||
Developed technology | 6 | 3,357 | — | — | 3,357 | ||||||||||
In-process research and development | 6 | 1,310 | — | — | 1,310 | ||||||||||
Trademarks / trade names | 15 | 2,122 | — | — | 2,122 | ||||||||||
Software | 5 | 1,051 | — | 33 | 1,084 | ||||||||||
10,822 | — | 33 | 10,855 | ||||||||||||
Less accumulated amortization | (858 | ) | (1,400 | ) | (19 | ) | (2,277 | ) | |||||||
Total intangible assets, net | $ | 9,964 | $ | (1,400 | ) | $ | 14 | $ | 8,578 | ||||||
Intangible Assets Future Amortization Expense | ' | ||||||||||||||
The Company estimates that amortization expense associated with intangible assets will be as follows (in thousands): | |||||||||||||||
2014 | $ | 1,402 | |||||||||||||
2015 | 1,323 | ||||||||||||||
2016 | 1,186 | ||||||||||||||
2017 | 1,186 | ||||||||||||||
2018 | 1,047 | ||||||||||||||
Thereafter | 2,434 | ||||||||||||||
$ | 8,578 | ||||||||||||||
Cumulative Goodwill Impairment Losses | ' | ||||||||||||||
The Company's cumulative goodwill impairment losses are as follows (in thousands): | |||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||
Gross Carrying Amount | Cumulative Impairment Losses | Gross Carrying Amount | Cumulative Impairment Losses | ||||||||||||
Goodwill | $ | 22,218 | $ | (22,218 | ) | $ | 22,218 | $ | (22,218 | ) | |||||
Income_Taxes_Income_Taxes_Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of income before income taxes | ' | |||||||||||
The components of income (loss) before income taxes consist of the following (in thousands): | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Income (loss) before income taxes: | ||||||||||||
Domestic | $ | (8,827 | ) | $ | (37,941 | ) | $ | 4,177 | ||||
Foreign | (1,051 | ) | (1,847 | ) | 492 | |||||||
Total income (loss) before income taxes | $ | (9,878 | ) | $ | (39,788 | ) | $ | 4,669 | ||||
Schedule of provision for income tax expense (benefit) | ' | |||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Income (loss) before income taxes: | ||||||||||||
Domestic | $ | (8,827 | ) | $ | (37,941 | ) | $ | 4,177 | ||||
Foreign | (1,051 | ) | (1,847 | ) | 492 | |||||||
Total income (loss) before income taxes | $ | (9,878 | ) | $ | (39,788 | ) | $ | 4,669 | ||||
The provision for income tax expense (benefit) consists of the following (in thousands): | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
U.S. Federal | $ | (626 | ) | $ | (2,461 | ) | $ | 3,103 | ||||
State | (35 | ) | 2 | 723 | ||||||||
Foreign | — | (97 | ) | 259 | ||||||||
Total current | (661 | ) | (2,556 | ) | 4,085 | |||||||
Deferred: | ||||||||||||
U.S. Federal | 711 | 9,885 | (1,633 | ) | ||||||||
State | — | 1,537 | (455 | ) | ||||||||
Foreign | (109 | ) | (57 | ) | — | |||||||
Total deferred | 602 | 11,365 | (2,088 | ) | ||||||||
Total provision for income tax expense (benefit) | $ | (59 | ) | $ | 8,809 | $ | 1,997 | |||||
Total income tax expense differs from the expected income tax expense | ' | |||||||||||
Total income tax expense (benefit) differs from the expected income tax expense (benefit), computed by applying the federal statutory rate of 34% to earnings before income taxes as follows (in thousands): | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Expected income tax expense (benefit) | $ | (3,359 | ) | $ | (13,528 | ) | $ | 1,587 | ||||
State income taxes, net of federal tax effect | (318 | ) | (314 | ) | 177 | |||||||
Change in tax rate | (39 | ) | 170 | 102 | ||||||||
Manufacturer's deduction | — | — | (155 | ) | ||||||||
Federal R&D credit | (95 | ) | — | (163 | ) | |||||||
Tax-exempt interest income | — | — | (18 | ) | ||||||||
Change in valuation allowance | 3,351 | 13,967 | (97 | ) | ||||||||
Goodwill impairment | — | 7,554 | — | |||||||||
Non-deductible acquisition costs | — | — | 363 | |||||||||
Foreign tax | 265 | 431 | — | |||||||||
Other, net | 136 | 529 | 201 | |||||||||
Total provision for income tax expense (benefit) | $ | (59 | ) | $ | 8,809 | $ | 1,997 | |||||
Schedule of tax effects of temporary differences that give rise to significant portions of deferred tax assets (liabilities) | ' | |||||||||||
The tax effects of temporary differences that give rise to significant portions of deferred tax assets (liabilities) are presented below (in thousands): | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Inventory provisions and uniform capitalization | $ | 225 | $ | 299 | ||||||||
Accounts receivable allowances | 73 | 57 | ||||||||||
Fixed assets | 244 | 414 | ||||||||||
Non-qualified stock option and restricted stock expense | 2,367 | 2,455 | ||||||||||
Deferred maintenance revenue | 726 | 1,354 | ||||||||||
Unrecognized tax benefits | 13 | 9 | ||||||||||
Loss and credit carryforwards of U.S. subsidiary | 15,502 | 13,124 | ||||||||||
Loss carryforward of foreign subsidiaries and joint venture | 1,332 | 1,103 | ||||||||||
Other accruals and reserves | 880 | 374 | ||||||||||
Other | 62 | 70 | ||||||||||
Total deferred tax assets before valuation allowance | 21,424 | 19,259 | ||||||||||
Less valuation allowance | (18,110 | ) | (14,988 | ) | ||||||||
Total deferred tax assets | $ | 3,314 | $ | 4,271 | ||||||||
Deferred tax liabilities: | ||||||||||||
Acquired intangibles | (3,029 | ) | (3,425 | ) | ||||||||
Total deferred tax liabilities | $ | (3,029 | ) | $ | (3,425 | ) | ||||||
Total net deferred tax assets | $ | 285 | $ | 846 | ||||||||
Reconciliation of the beginning and ending amounts of gross unrecognized tax benefits | ' | |||||||||||
A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits for the years ended December 31 is presented in the table below (in thousands): | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Gross unrecognized tax benefits at beginning of year | $ | 1,017 | $ | 977 | ||||||||
Increases related to: | ||||||||||||
Prior year income tax positions | 97 | 37 | ||||||||||
Current year income tax positions | 84 | 3 | ||||||||||
Decreases related to: | ||||||||||||
Prior year income tax positions - closure of statute of limitations | (162 | ) | — | |||||||||
Gross unrecognized tax benefits at end of year | $ | 1,036 | $ | 1,017 | ||||||||
Net_Income_Loss_Per_Share_Tabl
Net Income (Loss) Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Components of net income (loss) per basic and diluted share | ' | |||||||||||
The following table identifies the components of net income (loss) per basic and diluted share (in thousands, except for per share data): | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Shares outstanding at end of period | 8,674 | 8,654 | 10,204 | |||||||||
Basic weighted average shares outstanding | 8,691 | 9,971 | 9,674 | |||||||||
Dilutive effect of stock options and restricted stock units | — | — | 25 | |||||||||
Total diluted weighted average shares outstanding | 8,691 | 9,971 | 9,699 | |||||||||
Net income (loss) attributable to Qumu | $ | (9,694 | ) | $ | (48,338 | ) | $ | 2,835 | ||||
Basic net income (loss) per common share | $ | (1.12 | ) | $ | (4.85 | ) | $ | 0.29 | ||||
Diluted net income (loss) per common share | $ | (1.12 | ) | $ | (4.85 | ) | $ | 0.29 | ||||
Lease_Commitments_Lease_Commit
Lease Commitments Lease Commitments (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Leases [Abstract] | ' | |||
Schedule of future minimum rental payments for operating leases | ' | |||
The following is a schedule of future minimum lease payments, excluding property taxes and other operating expenses, required under all non-cancelable operating leases (in thousands): | ||||
Years Ending December 31, | Total | |||
Operating | ||||
Leases | ||||
2014 | $ | 972 | ||
2015 | 715 | |||
2016 | 481 | |||
2017 | 447 | |||
2018 | 227 | |||
Thereafter | — | |||
Total minimum lease payments | $ | 2,842 | ||
Business_Segments_Information_
Business Segments Information / Major Customers (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of net revenue and operating income (loss) | ' | |||||||||||||||
Net revenue and operating income (loss) were as follows (in thousands): | ||||||||||||||||
Reportable Segments | Enterprise Video Content Management Software | Disc Publishing | Total | |||||||||||||
2013 | ||||||||||||||||
Revenues | $ | 17,736 | $ | 64,736 | $ | 82,472 | ||||||||||
Operating income (loss) (1) | (16,090 | ) | 6,405 | (9,685 | ) | |||||||||||
2012 | ||||||||||||||||
Revenues | 9,836 | 69,607 | 79,443 | |||||||||||||
Operating income (loss) (1) (2) | (46,295 | ) | 6,551 | (39,744 | ) | |||||||||||
2011 | ||||||||||||||||
Revenues | 1,760 | 81,874 | 83,634 | |||||||||||||
Operating income (loss) (1) (3) | (5,211 | ) | 9,659 | 4,448 | ||||||||||||
1 | Operating loss for the enterprise video content management software segment in 2013, 2012 and 2011 includes amortization expense of $1.2 million, $1.7 million and $0.4 million respectively, for amortization of intangible assets established as part of the acquisition of Qumu, Inc. | |||||||||||||||
2 | Operating loss for the enterprise video content management software segment includes recognized asset impairment charges consisting of $22.2 million of goodwill and $7.3 million of other intangible assets for 2012. See Note 8, “Goodwill and Intangible Assets,” for additional information regarding the Company’s intangible assets. | |||||||||||||||
3 | Operating income for the disc publishing segment in 2011 includes $1.7 million of nonrecurring transaction costs associated with the acquisition of Qumu, Inc. | |||||||||||||||
Schedule of sale amounts and related accounts receivable balances generated by unaffiliated customers that provided more than 10% of consolidated revenues | ' | |||||||||||||||
The following represents sales amounts and related accounts receivable balances generated by the Company’s unaffiliated customers that provided more than 10% of consolidated revenues (in thousands): | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
Revenues | 2013 | 2012 | 2011 | |||||||||||||
Customer A | $ | 9,551 | $ | 8,044 | $ | 13,667 | ||||||||||
December 31, | ||||||||||||||||
Accounts Receivable | 2013 | 2012 | 2011 | |||||||||||||
Customer A | $ | 348 | $ | 369 | $ | 430 | ||||||||||
Schedule of revenues from each geographic regions based on customer location | ' | |||||||||||||||
The Company’s revenues from each of its principal geographic regions are presented based on customer location as follows (in thousands): | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
North America | $ | 52,871 | $ | 51,413 | $ | 51,706 | ||||||||||
Europe | 21,980 | 19,414 | 22,083 | |||||||||||||
Other (Asia and Latin America) | 7,621 | 8,616 | 9,845 | |||||||||||||
Total | $ | 82,472 | $ | 79,443 | $ | 83,634 | ||||||||||
Schedule of net property and equipment location | ' | |||||||||||||||
Net property and equipment of the Company were located as follows (in thousands): | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
North America | $ | 5,070 | $ | 5,553 | ||||||||||||
Europe | 316 | 356 | ||||||||||||||
Asia | 33 | 57 | ||||||||||||||
Total | $ | 5,419 | $ | 5,966 | ||||||||||||
Revenues from principal products and services | ' | |||||||||||||||
The Company’s revenues from each of its principal products and services were as follows (in thousands): | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Enterprise video content management software | ||||||||||||||||
Software licenses and appliances | $ | 7,269 | 9 | % | $ | 4,320 | 5 | % | $ | 693 | 1 | % | ||||
Service | 10,467 | 13 | % | 5,516 | 7 | % | 1,067 | 1 | % | |||||||
Total enterprise video content management software | 17,736 | 22 | % | 9,836 | 12 | % | 1,760 | 2 | % | |||||||
Disc publishing | ||||||||||||||||
Disc publishing equipment: | ||||||||||||||||
Producer | 9,119 | 11 | % | 12,285 | 15 | % | 15,788 | 19 | % | |||||||
Professional | 6,609 | 8 | % | 9,517 | 12 | % | 11,939 | 14 | % | |||||||
Desktop | 1,575 | 2 | % | 1,977 | 2 | % | 2,697 | 3 | % | |||||||
Total disc publishing equipment | 17,303 | 21 | % | 23,779 | 30 | % | 30,424 | 36 | % | |||||||
Recurring: | ||||||||||||||||
Consumables and parts | 34,962 | 42 | % | 33,819 | 43 | % | 40,038 | 48 | % | |||||||
Service | 12,471 | 15 | % | 12,009 | 15 | % | 11,412 | 14 | % | |||||||
Total recurring | 47,433 | 58 | % | 45,828 | 58 | % | 51,450 | 62 | % | |||||||
Total disc publishing | 64,736 | 78 | % | 69,607 | 88 | % | 81,874 | 98 | % | |||||||
Total revenue | $ | 82,472 | 100 | % | $ | 79,443 | 100 | % | $ | 83,634 | 100 | % | ||||
Consolidation_of_Join_Venture_1
Consolidation of Join Venture Entity and Noncontrolling Interest (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||
Schedule of financial information for RIT | ' | ||||||||
The following table sets forth the changes in noncontrolling interest (in thousands): | |||||||||
Years Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Balance at beginning of period | $ | 103 | $ | 360 | |||||
Net loss attributable to noncontrolling interest | (125 | ) | (259 | ) | |||||
Foreign currency translation attributable to noncontrolling interest | 1 | 2 | |||||||
Purchase of noncontrolling interest in consolidated subsidiary | 21 | — | |||||||
Balance at end of period | $ | — | $ | 103 | |||||
Supplemental_Quarterly_Data_Un1
Supplemental Quarterly Data - Unaudited (In thousands, except per share data) (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Supplemental Income Statement Elements [Abstract] | ' | |||||||||||||||||||||||||||||||
Supplemental Quarterly Data - Unaudited | ' | |||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
Fourth | Third | Second | First | Fourth | Third | Second | First | |||||||||||||||||||||||||
Revenues | $ | 20,655 | $ | 21,073 | $ | 21,248 | $ | 19,496 | $ | 20,749 | $ | 20,949 | $ | 18,284 | $ | 19,461 | ||||||||||||||||
Cost of revenues | 10,701 | 11,151 | 10,798 | 10,262 | 10,096 | 10,811 | 9,987 | 9,888 | ||||||||||||||||||||||||
Gross profit | 9,954 | 9,922 | 10,450 | 9,234 | 10,653 | 10,138 | 8,297 | 9,573 | ||||||||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||||||||||
Research and development | 2,847 | 2,774 | 3,225 | 3,357 | 2,909 | 2,958 | 2,894 | 3,105 | ||||||||||||||||||||||||
Selling, general and administrative | 9,727 | 8,044 | 8,927 | 9,716 | 8,900 | 9,077 | 8,866 | 9,196 | ||||||||||||||||||||||||
Goodwill and intangible asset impairment charge | — | — | — | — | — | 29,548 | — | — | ||||||||||||||||||||||||
Amortization of intangibles | 157 | 158 | 156 | 157 | 157 | 284 | 264 | 247 | ||||||||||||||||||||||||
Total operating expenses | 12,731 | 10,976 | 12,308 | 13,230 | 11,966 | 41,867 | 12,024 | 12,548 | ||||||||||||||||||||||||
Operating loss | (2,777 | ) | (1,054 | ) | (1,858 | ) | (3,996 | ) | (1,313 | ) | (31,729 | ) | (3,727 | ) | (2,975 | ) | ||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||
Interest, net | 4 | 9 | 4 | 11 | 27 | 27 | 19 | 2 | ||||||||||||||||||||||||
Gain (loss) on currency exchange | (35 | ) | 25 | (108 | ) | (107 | ) | (83 | ) | 23 | (13 | ) | (72 | ) | ||||||||||||||||||
Other, net | 2 | 2 | 1 | (1 | ) | 12 | 14 | (2 | ) | 2 | ||||||||||||||||||||||
Total other income (loss), net | (29 | ) | 36 | (103 | ) | (97 | ) | (44 | ) | 64 | 4 | (68 | ) | |||||||||||||||||||
Loss before income taxes | (2,806 | ) | (1,018 | ) | (1,961 | ) | (4,093 | ) | (1,357 | ) | (31,665 | ) | (3,723 | ) | (3,043 | ) | ||||||||||||||||
Income tax expense (benefit) | (57 | ) | (1 | ) | 53 | (54 | ) | (199 | ) | 11,184 | (902 | ) | (1,274 | ) | ||||||||||||||||||
Net loss | (2,749 | ) | (1,017 | ) | (2,014 | ) | (4,039 | ) | (1,158 | ) | (42,849 | ) | (2,821 | ) | (1,769 | ) | ||||||||||||||||
Net loss attributable to the noncontrolling interest | — | — | 63 | 62 | 43 | 81 | 71 | 64 | ||||||||||||||||||||||||
Net loss attributable to Qumu | $ | (2,749 | ) | $ | (1,017 | ) | $ | (1,951 | ) | $ | (3,977 | ) | $ | (1,115 | ) | $ | (42,768 | ) | $ | (2,750 | ) | $ | (1,705 | ) | ||||||||
Net loss per basic and diluted share | $ | (0.32 | ) | $ | (0.12 | ) | $ | (0.22 | ) | $ | (0.46 | ) | $ | (0.12 | ) | $ | (4.23 | ) | $ | (0.27 | ) | $ | (0.17 | ) |
Nature_Of_Business_And_Summary3
Nature Of Business And Summary Of Significant Accounting Policies Narrative (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' |
Deferred commission costs recorded | $300,000 | $200,000 | ' |
Product warranty period | '12 months | ' | ' |
Net gains (losses) on foreign currency translation | $67,000 | ($10,000) | ($89,000) |
Minimum | ' | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' |
Property and equipment estimated useful lives | '2 years | ' | ' |
Intangible assets estimated useful lives | '5 years | ' | ' |
Maximum | ' | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' |
Property and equipment estimated useful lives | '7 years | ' | ' |
Intangible assets estimated useful lives | '15 years | ' | ' |
Building | ' | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' |
Property and equipment estimated useful lives | '15 years | ' | ' |
Nature_Of_Business_And_Summary4
Nature Of Business And Summary Of Significant Accounting Policies Warranty (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Movement in Standard Product Warranty Accrual [Roll Forward] | ' | ' | ' |
Beginning Balance | $239 | $296 | $231 |
Warranty Provisions | 237 | 409 | 630 |
Warranty Claims | -283 | -463 | -565 |
Foreign Exchange Impact | -4 | -3 | 0 |
Ending Balance | $189 | $239 | $296 |
Acquisition_Of_Qumu_Inc_Narrat
Acquisition Of Qumu, Inc. Narrative (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | ||
Share data in Millions, except Per Share data, unless otherwise specified | Oct. 10, 2012 | Oct. 10, 2011 | Oct. 30, 2011 | Dec. 31, 2011 | Oct. 30, 2011 | Oct. 10, 2011 |
Qumu, Inc. | Qumu, Inc. | Qumu, Inc. | Qumu, Inc. | |||
D | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' |
Acquired capital stock | ' | ' | ' | ' | ' | 100.00% |
Aggregate purchase price | ' | ' | $51,275,000 | ' | $53,000,000 | ' |
Aggregate purchase price, in cash | ' | ' | ' | ' | 39,000,000 | ' |
Aggregate purchase price, in shares | ' | ' | ' | ' | 1 | ' |
Sale of stock, price per share | ' | ' | ' | ' | ' | $13.19 |
Number of days in which the restrictions from transfer will lapse for first one-third of the share | ' | ' | ' | ' | 180 | ' |
Number of days in which the restrictions from transfer will lapse for second one-third of the shares | ' | ' | ' | ' | 270 | ' |
Number of days in which the restrictions from transfer will lapse for third one-third of the shares | ' | ' | ' | ' | 365 | ' |
Amount payable in merger, subject to escrow | ' | ' | ' | ' | ' | 5,200,000 |
Escrow lapsed period | '1 year | ' | ' | ' | ' | ' |
Acquisition transaction costs | ' | ' | 1,700,000 | ' | ' | ' |
Share Price | ' | $11.50 | ' | ' | ' | ' |
Pro forma adjustment of amortization of identified intangible assets | ' | ' | ' | 1,600,000 | ' | ' |
Pro forma adjustment of the elimination of interest expense and bank fees | ' | ' | ' | 900,000 | ' | ' |
Pro forma adjustment of other related income tax effects | ' | ' | ' | $1,900,000 | ' | ' |
Acquisition_Of_Qumu_Inc_Prelim
Acquisition Of Qumu, Inc. Preliminary Purchase Accounting Allocation (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 30, 2011 | Oct. 10, 2011 |
In Thousands, unless otherwise specified | Qumu, Inc. | Qumu, Inc. | ||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Aggregate purchase price | ' | ' | $51,275 | ' |
Less: discount applied to Qumu Corporation stock for trade restrictions | ' | ' | -1,955 | ' |
Net transaction consideration | ' | ' | 49,320 | ' |
Current assets | ' | ' | ' | 5,213 |
Property and equipment | ' | ' | ' | 390 |
Intangible assets | ' | ' | ' | 18,900 |
Goodwill | 22,218 | 22,218 | ' | 22,218 |
Net deferred tax assets | ' | ' | ' | 7,229 |
Current liabilities | ' | ' | ' | -4,630 |
Total net assets acquired | ' | ' | ' | $49,320 |
Acquisition_Of_Qumu_Inc_Pro_Fo
Acquisition Of Qumu, Inc. Pro Forma Operating Results (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $20,655 | $21,073 | $21,248 | $19,496 | $20,749 | $20,949 | $18,284 | $19,461 | $82,472 | $79,443 | $83,634 |
Net earnings | -2,749 | -1,017 | -1,951 | -3,977 | -1,115 | -42,768 | -2,750 | -1,705 | -9,694 | -48,338 | 2,835 |
Qumu, Inc. | Reported | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83,634 |
Net earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,835 |
Basic and diluted net earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.29 |
Qumu, Inc. | Pro Forma | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94,092 |
Net earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $308 |
Basic and diluted net earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.03 |
StockBased_Compensation_Common1
Stock-Based Compensation, Common Stock Repurchases and Dividends (Narrative) (Details) (USD $) | Dec. 31, 2013 | Apr. 30, 2008 | Mar. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 19, 2013 | Dec. 31, 2013 | Jan. 07, 2013 | Nov. 30, 2012 | Apr. 30, 2009 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | Restricted Stock | 2007 Stock Incentive Plan | 2007 Stock Incentive Plan | Second Restated 2007 Stock Incentive Plan | Second Restated 2007 Stock Incentive Plan | Director | Newly Hired Executive Officers | Newly Hired Executive Officers | Newly Hired Executive Officers | Newly Hired Executive Officers | |
Stock Options | Stock Options | Stock Options | Stock Options | 2007 Stock Incentive Plan | Non-Qualified Options | Non-Qualified Options | Non-Qualified Options | Non-Qualified Options | ||||||||
Stock Options | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total shares available for future grant | ' | ' | ' | ' | ' | ' | ' | ' | 204,109 | ' | ' | ' | ' | ' | ' | ' |
Award vesting period | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | '6 months | ' | ' | ' | ' |
Granted non-qualified options to purchase shares of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | 100,000 | 200,000 | ' |
Termination period from the date of grant | ' | '7 years | '10 years | ' | ' | ' | ' | ' | '7 years | ' | ' | '10 years | ' | ' | ' | '7 years |
Outstanding shares exchanged (in shares) | ' | ' | ' | ' | ' | ' | ' | 182,000 | ' | 29,000 | ' | ' | ' | ' | ' | ' |
Weighted-average exercise price | ' | ' | ' | ' | ' | ' | ' | $13.50 | ' | ' | $11.87 | ' | ' | ' | ' | ' |
Total stock option compensation expense not yet recognized | ' | ' | ' | $2,474 | ' | ' | $954 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net tax impact of share-based compensation reduction in additional paid-in capital | ' | ' | ' | $13 | $214 | $19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average period for recognition of cost not yet recognized | ' | ' | ' | '3 years | ' | ' | '2 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock repurchase shares authorized | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Common2
Stock-Based Compensation, Common Stock Repurchases and Dividends Schedule Of Share-Based Payment Arrangements (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation cost charged against income, before income tax benefit | $1,778 | $2,124 | $1,981 |
Stock-based compensation cost included in: | ' | ' | ' |
Cost of revenues | 141 | 137 | 124 |
Operating expenses | 1,637 | 1,987 | 1,857 |
Income tax benefit related to stock-based compensation included in net income | 0 | 0 | -692 |
Stock Options | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation cost charged against income, before income tax benefit | 1,145 | 1,387 | 1,447 |
Restricted stock and restricted stock units | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation cost charged against income, before income tax benefit | $633 | $737 | $534 |
StockBased_Compensation_Common3
Stock-Based Compensation, Common Stock Repurchases and Dividends Schedule of Assumptions - Parenthetical (Details) (Stock Options) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected life of options (in years) | ' | '4 years 9 months | '4 years 9 months |
Minimum risk free interest rate | 0.34% | 0.59% | 0.80% |
Maximum risk free interest rate | 1.34% | 0.94% | 2.05% |
Expected minimum volatility rate | 31.50% | 43.80% | 46.20% |
Expected maximum volatility rate | 43.70% | 46.90% | 48.40% |
Minimum | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected life of options (in years) | '2 years | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 2.70% |
Maximum | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected life of options (in years) | '4 years 9 months | ' | ' |
Expected dividend yield | 0.00% | 9.90% | 6.10% |
StockBased_Compensation_Common4
Stock-Based Compensation, Common Stock Repurchases and Dividends Schedule of Share-based Compensation Rollforward (Details) (2007 and 1992 Stock Incentive Plans, USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | |
2007 and 1992 Stock Incentive Plans | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | |
Options outstanding, beginning of year (in shares) | 1,925,000 | |
Number of options granted | 389,000 | |
Options exercised (in shares) | -1,000 | |
Options Canceled (in shares) | -565,000 | |
Options outstanding, end of year (in shares) | 1,748,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | |
Options outstanding, weighted-average exercise price, beginning of year (dollars per share) | $13.81 | [1] |
Options granted, weighted-average exercise price (dollars per share) | $11.78 | [1] |
Options exercised, weighted-average exercise price (dollars per share) | $9.26 | [1] |
Options canceled, weighted-average exercise price (dollars per share) | $15.10 | [1] |
Options outstanding, weighted-average exercise price, end of year (dollars per share) | $12.95 | [1] |
Weighted-average remaining contractual term for options outstanding (In years) | '4 years 5 months 12 days | |
Aggregate intrinsic value of options outstanding (value) | $3,415 | [2] |
Options subject to exercise at December 31, 2013 (in shares) | 881,000 | |
Weighted-average exercise price for options subject to exercise at December 31, 2013 (dollars per share) | $15.55 | [1] |
Weighted-average remaining contractual term for options subject to exercise at December 31, 2013 | '3 years 1 month 17 days | |
Aggregate intrinsic value for options subject to exercise at December 31, 2013 (value) | $756 | [2] |
[1] | Weighted Average Exercise Price | |
[2] | Aggregate intrinsic value includes only those options with intrinsic value (options where the exercise price is below the market value). |
StockBased_Compensation_Common5
Stock-Based Compensation, Common Stock Repurchases and Dividends Schedule of Stock Options (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Fair value of options granted | $1,382 | $1,288 | $1,838 |
Per share weighted average fair value of options granted (dollars per share) | $3.55 | $2.44 | $3.13 |
Total intrinsic value of stock options exercised | $2 | $0 | $240 |
StockBased_Compensation_Common6
Stock-Based Compensation, Common Stock Repurchases and Dividends Nonvested Restricted Stocks (Details) (Restricted Stock, USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restricted Stock | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Nonvested restricted stock shares, beginning of year | 150 | ' | ' |
Nonvested restricted stock shares granted | 55 | ' | ' |
Nonvested restricted stock shares vested | -66 | ' | ' |
Nonvested restricted stock shares canceled | -21 | ' | ' |
Nonvested restricted stock shares, end of year | 118 | 150 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Nonvested restricted stock weighted average grant date fair value, beginning of year | $11.21 | ' | ' |
Nonvested restricted stock weighted average grant date fair value, granted | $10.14 | $8.63 | $13.19 |
Nonvested restricted stock weighted average grant date fair value, vested | $10.72 | ' | ' |
Nonvested restricted stock weighted average grant date fair value, canceled | $11.46 | ' | ' |
Nonvested restricted stock weighted average grant date fair value, end of year | $10.94 | $11.21 | ' |
StockBased_Compensation_Common7
Stock-Based Compensation, Common Stock Repurchases and Dividends Schedule of Restricted Stock Options (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Fair value of restricted stock and restricted stock units granted | $1,382 | $1,288 | $1,838 |
Restricted Stock | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of restricted stock and restricted stock units granted | 55 | ' | ' |
Per share weighted average grant-date fair value of restricted stock and restricted stock units granted | $10.14 | $8.63 | $13.19 |
Total fair value of restricted stock and restricted stock units vested | $593 | $394 | $349 |
StockBased_Compensation_Common8
Stock-Based Compensation, Common Stock Repurchases and Dividends Schedule of Repurchase Activity (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Common stock shares repurchased under board authorized plan | 0 | 1,569 | 459 |
Average purchase price per share | $0 | $6.22 | $13.15 |
Shares available under board authorizations | 778 | ' | ' |
StockBased_Compensation_Common9
Stock-Based Compensation, Common Stock Repurchases and Dividends Schedule of Quarterly Dividends (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Dividend Per Share | $0 | $0.17 | $0.17 | $0.17 | ' | $0.51 | ' |
Total Dividends Paid (value) | $0 | $1,712 | $1,730 | $1,738 | $0 | $5,180 | $4,595 |
Marketable_Securities_Narrativ
Marketable Securities Narrative (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum | ' |
Marketable Securities [Line Items] | ' |
Available-for-sale maturity period | '3 months |
Maximum | ' |
Marketable Securities [Line Items] | ' |
Available-for-sale maturity period | '12 months |
Marketable_Securities_Schedule
Marketable Securities Schedule Of Marketable Securities (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Marketable Securities [Line Items] | ' | ' |
Cost | $13,250 | $21,496 |
Gross Unrealized Gains | 0 | 1 |
Gross Unrealized Losses | -17 | -1 |
Available-for-sale Securities | 13,233 | 21,496 |
Certificates of Deposit | ' | ' |
Marketable Securities [Line Items] | ' | ' |
Cost | 13,250 | 6,500 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | -17 | -1 |
Available-for-sale Securities | 13,233 | 6,499 |
US Treasury Bill Securities | ' | ' |
Marketable Securities [Line Items] | ' | ' |
Cost | ' | 14,996 |
Gross Unrealized Gains | ' | 1 |
Gross Unrealized Losses | ' | 0 |
Available-for-sale Securities | ' | $14,997 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | $13,233 | $21,496 |
Fair Value, Measurements, Recurring | Total Fair Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total assets | 13,247 | 21,496 |
Total liabilities | ' | 8 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total assets | 13,233 | 21,496 |
Total liabilities | ' | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total assets | 14 | 0 |
Total liabilities | ' | 8 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total assets | 0 | 0 |
Total liabilities | ' | 0 |
Certificates of Deposit | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | 13,233 | 6,499 |
Certificates of Deposit | Fair Value, Measurements, Recurring | Total Fair Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | 13,233 | 6,499 |
Certificates of Deposit | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | 13,233 | 6,499 |
Certificates of Deposit | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | 0 | 0 |
Certificates of Deposit | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | 0 | 0 |
US Treasury Bill Securities | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | ' | 14,997 |
US Treasury Bill Securities | Fair Value, Measurements, Recurring | Total Fair Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | ' | 14,997 |
US Treasury Bill Securities | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | ' | 14,997 |
US Treasury Bill Securities | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | ' | 0 |
US Treasury Bill Securities | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale Securities | ' | 0 |
Foreign Exchange Contract | Fair Value, Measurements, Recurring | Total Fair Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Foreign currency forward exchange contracts assets | 14 | ' |
Foreign currency forward exchange contracts liabilities | ' | 8 |
Foreign Exchange Contract | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Foreign currency forward exchange contracts assets | 0 | ' |
Foreign currency forward exchange contracts liabilities | ' | 0 |
Foreign Exchange Contract | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Foreign currency forward exchange contracts assets | 14 | ' |
Foreign currency forward exchange contracts liabilities | ' | 8 |
Foreign Exchange Contract | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Foreign currency forward exchange contracts assets | 0 | ' |
Foreign currency forward exchange contracts liabilities | ' | $0 |
Inventories_Schedule_Of_Invent
Inventories Schedule Of Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Finished goods and demonstration equipment | $1,605 | $2,677 |
Purchased parts and subassemblies | 2,497 | 3,359 |
Total inventories | 4,102 | 6,036 |
Consignment inventory | $308 | $313 |
Property_and_Equipment_Narrati
Property and Equipment Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
depreciation related to property and equipment | $1,628 | $2,382 | $2,313 |
Property_and_Equipment_Schedul
Property and Equipment Schedule of Property and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $21,248 | $20,365 |
Less accumulated depreciation and amortization | -15,829 | -14,399 |
Total property, plant & equipment, net | 5,419 | 5,966 |
Land and land improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 1,096 | 1,096 |
Building and building improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 2,961 | 2,955 |
Manufacturing equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 5,643 | 5,610 |
Development fixtures and equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 693 | 693 |
Data equipment and furniture | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 8,693 | 7,849 |
Leasehold improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $2,162 | $2,162 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets Narrative (Details) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 30, 2011 | |
Cost Of Product Revenues | Cost Of Product Revenues | Cost Of Product Revenues | Qumu, Inc. | ||||||||||||
Goodwill And Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of intangible assets | $157,000 | $158,000 | $156,000 | $157,000 | $157,000 | $284,000 | $264,000 | $247,000 | $628,000 | $952,000 | $223,000 | $772,000 | $998,000 | $400,000 | ' |
Goodwill acquired during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,200,000 |
Intangible assets acquired during period | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 18,900,000 |
Goodwill impairment charge | ' | ' | ' | ' | ' | 22,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible asset impairment charge | ' | ' | ' | ' | ' | $7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets Changes In Intangible Assets (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Finite-lived Intangible Assets [Roll Forward] | ' |
Intangible Assets, Gross, beginning of year | $10,822 |
Intangible Assets, Additions / Amortization | 0 |
Intangible Assets, Other Net Adjustments | 33 |
Intangible Assets, Gross, end of year | 10,855 |
Intangible assets accumulated amortization, beginning of year | -858 |
Less accumulated amortization, Additions/Amortization | -1,400 |
Less accumulated amortization, Other Net Adjustments | -19 |
Intangible assets accumulated amortization, end of year | -2,277 |
Total intangible assets, net | 9,964 |
Total intangible assets, Additions/Amortization | -1,400 |
Total intangible assets, Other Net Adjustments | 14 |
Total intangible assets, net | 8,578 |
Customer relationships | ' |
Goodwill And Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '10 years |
Finite-lived Intangible Assets [Roll Forward] | ' |
Intangible Assets, Gross, beginning of year | 2,982 |
Intangible Assets, Additions / Amortization | 0 |
Intangible Assets, Other Net Adjustments | 0 |
Intangible Assets, Gross, end of year | 2,982 |
Developed technology | ' |
Goodwill And Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '6 years |
Finite-lived Intangible Assets [Roll Forward] | ' |
Intangible Assets, Gross, beginning of year | 3,357 |
Intangible Assets, Additions / Amortization | 0 |
Intangible Assets, Other Net Adjustments | 0 |
Intangible Assets, Gross, end of year | 3,357 |
In-process research and development | ' |
Goodwill And Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '6 years |
Finite-lived Intangible Assets [Roll Forward] | ' |
Intangible Assets, Gross, beginning of year | 1,310 |
Intangible Assets, Additions / Amortization | 0 |
Intangible Assets, Other Net Adjustments | 0 |
Intangible Assets, Gross, end of year | 1,310 |
Trademarks / trade names | ' |
Goodwill And Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '15 years |
Finite-lived Intangible Assets [Roll Forward] | ' |
Intangible Assets, Gross, beginning of year | 2,122 |
Intangible Assets, Additions / Amortization | 0 |
Intangible Assets, Other Net Adjustments | 0 |
Intangible Assets, Gross, end of year | 2,122 |
Software related to joint venture entity | ' |
Goodwill And Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '5 years |
Finite-lived Intangible Assets [Roll Forward] | ' |
Intangible Assets, Gross, beginning of year | 1,051 |
Intangible Assets, Additions / Amortization | 0 |
Intangible Assets, Other Net Adjustments | 33 |
Intangible Assets, Gross, end of year | $1,084 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets Intangible Assets Future Amortization Expense (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' |
2014 | $1,402 |
2015 | 1,323 |
2016 | 1,186 |
2017 | 1,186 |
2018 | 1,047 |
Thereafter | 2,434 |
Finite-Lived Intangible Assets, Net | $8,578 |
Goodwill_and_Intangible_Assets5
Goodwill and Intangible Assets Goodwill and Impairment Losses (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
Gross Carrying Amount | $22,218 | $22,218 |
Cumulative Impairment Losses | ($22,218) | ($22,218) |
Income_Taxes_Narrative_Details
Income Taxes Narrative (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Valuation Allowance [Line Items] | ' | ' |
Federal and state research and development credit carryforwards | $2,700,000 | ' |
Cash and cash equivalent and marketable securities held by foreign subsidiaries | 5,600,000 | ' |
Unrecognized tax benefit that would affect the effective tax rate | 97,000 | ' |
Interest and penalties related to unrecognized tax benefits accrued | 18,000 | 16,000 |
Interest and penalties recognized related to unrecognized tax expense (benefits) | 3,000 | -1,000 |
Germany Subsidiaries | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Unremitted earnings related to the operations in Germany | 5,900,000 | ' |
Qumu, Inc. | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Non-cash charge for the establishment of a valuation allowance | ' | 14,000,000 |
Internal Revenue Service (IRS) | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Operating loss carryforwards | 34,200,000 | ' |
State and Local Jurisdiction | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Operating loss carryforwards | 38,600,000 | ' |
Foreign Tax Authority | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Operating loss carryforwards | $3,800,000 | ' |
Income_Taxes_Component_of_Inco
Income Taxes Component of Income Before Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Domestic | ($8,827) | ($37,941) | $4,177 |
Foreign | -1,051 | -1,847 | 492 |
Income (loss) before income taxes | ($9,878) | ($39,788) | $4,669 |
Income_Taxes_Income_Tax_Expens
Income Taxes Income Tax Expense (Benefits) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current U.S. Federal | ' | ' | ' | ' | ' | ' | ' | ' | ($626) | ($2,461) | $3,103 |
Current State | ' | ' | ' | ' | ' | ' | ' | ' | -35 | 2 | 723 |
Current Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -97 | 259 |
Total current | ' | ' | ' | ' | ' | ' | ' | ' | -661 | -2,556 | 4,085 |
Deferred U.S. Federal | ' | ' | ' | ' | ' | ' | ' | ' | 711 | 9,885 | -1,633 |
Deferred State | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,537 | -455 |
Deferred Foreign | ' | ' | ' | ' | ' | ' | ' | ' | -109 | -57 | 0 |
Total deferred | ' | ' | ' | ' | ' | ' | ' | ' | 602 | 11,365 | -2,088 |
Income tax expense (benefit) | ($57) | ($1) | $53 | ($54) | ($199) | $11,184 | ($902) | ($1,274) | ($59) | $8,809 | $1,997 |
Income_Taxes_Income_Tax_Reconc
Income Taxes Income Tax Reconciliation (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal statutory tax rate (percent) | ' | ' | ' | ' | ' | ' | ' | ' | 34.00% | 34.00% | ' |
Expected income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ($3,359) | ($13,528) | $1,587 |
State income taxes, net of federal tax effect | ' | ' | ' | ' | ' | ' | ' | ' | -318 | -314 | 177 |
Changes in tax rate | ' | ' | ' | ' | ' | ' | ' | ' | -39 | 170 | 102 |
Manufacturer's deduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -155 |
Federal R&D credit | ' | ' | ' | ' | ' | ' | ' | ' | -95 | 0 | -163 |
Tax-exempt interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -18 |
Change in valuation allowance | ' | ' | ' | ' | ' | ' | ' | ' | 3,351 | 13,967 | -97 |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 7,554 | 0 |
Non-deductible acquisition costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 363 |
Foreign tax | ' | ' | ' | ' | ' | ' | ' | ' | 265 | 431 | 0 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 136 | 529 | 201 |
Income tax expense (benefit) | ($57) | ($1) | $53 | ($54) | ($199) | $11,184 | ($902) | ($1,274) | ($59) | $8,809 | $1,997 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes Deferred Tax Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Inventory provisions and uniform capitalization | $225 | $299 |
Accounts receivable allowances | 73 | 57 |
Fixed assets | 244 | 414 |
Non-qualified stock option and restricted stock expense | 2,367 | 2,455 |
Deferred maintenance revenue | 726 | 1,354 |
Unrecognized tax benefits | 13 | 9 |
Loss and credit carryfowards of U.S. subsidiary | 15,502 | 13,124 |
Loss carryforward of foreign subsidiary and joint venture | 1,332 | 1,103 |
Other accruals and reserves | 880 | 374 |
Other | 62 | 70 |
Total deferred tax assets before valuation allowance | 21,424 | 19,259 |
Less valuation allowance | -18,110 | -14,988 |
Total deferred tax assets | 3,314 | 4,271 |
Deferred tax liabilities | ' | ' |
Acquired intangibles | -3,029 | -3,425 |
Total deferred tax liabilities | -3,029 | -3,425 |
Total net deferred tax assets | $285 | $846 |
Income_Taxes_Unrecognized_Tax_
Income Taxes Unrecognized Tax Benefits (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Gross unrecognized tax benefits, beginning of year | $1,017 | $977 |
Increases related to prior year income tax positions | 97 | 37 |
Increases related to current year income tax positions | 84 | 3 |
Decreases related to prior year income tax positions | -162 | 0 |
Gross unrecognized tax benefits, end of year | $1,036 | $1,017 |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 0 Months Ended | 1 Months Ended | |
Sep. 11, 2013 | Sep. 30, 2003 | Sep. 16, 2003 | |
Class of Stock [Line Items] | ' | ' | ' |
Number of dividend preferred share purchase right | ' | $1 | ' |
Purchase price of Warrants or Rights | 35 | ' | 100 |
Percentage of common stock outstanding owned ( in percent) | 20.00% | 15.00% | ' |
Triggering event, percent of assets or earning power of the Company sold | 50.00% | ' | ' |
Market value over exercise price of Right | 200.00% | ' | ' |
Redeemable price per Right | 0.001 | ' | ' |
Series A Junior Participating Preferred Stock | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
$35 per 1/100 Preferred Share per Right | ' | $3,500 | ' |
Net_Income_Loss_Per_Share_Narr
Net Income (Loss) Per Share Narrative (Details) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Antidilutive stock options and restricted stock units excluded from computation of EPS | 1,921 | 1,750 | 1,307 |
Weighted average outstanding shares of unvested restricted stock | 67 | ' | ' |
Component_of_Net_Income_per_Ba
Component of Net Income per Basic and Diluted Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares outstanding at end of period | 8,674 | ' | ' | ' | 8,654 | ' | ' | ' | 8,674 | 8,654 | 10,204 |
Basic weighted average shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 8,691 | 9,971 | 9,674 |
Dilutive effect of stock options/restricted stock units | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 25 |
Total diluted weighted average shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 8,691 | 9,971 | 9,699 |
Net income (loss) | ($2,749) | ($1,017) | ($1,951) | ($3,977) | ($1,115) | ($42,768) | ($2,750) | ($1,705) | ($9,694) | ($48,338) | $2,835 |
Basic net income (loss) per common share | ($0.32) | ($0.12) | ($0.22) | ($0.46) | ($0.12) | ($4.23) | ($0.27) | ($0.17) | ($1.12) | ($4.85) | $0.29 |
Diluted net income (loss) per common share | ' | ' | ' | ' | ' | ' | ' | ' | ($1.12) | ($4.85) | $0.29 |
Lease_Commitments_Details
Lease Commitments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Leases [Abstract] | ' | ' | ' |
2014 | $972,000 | ' | ' |
2015 | 715,000 | ' | ' |
2016 | 481,000 | ' | ' |
2017 | 447,000 | ' | ' |
2018 | 227,000 | ' | ' |
Thereafter | 0 | ' | ' |
Total minimum lease payments | 2,842,000 | ' | ' |
Rent expense under operating leases | $1,100,000 | $1,200,000 | $1,100,000 |
401_K_Savings_Plan_Details
401 (K) Savings Plan (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Employer matching contributions | $269 | $306 | $289 |
Maximum | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Maximum employee contribution, percentage | 100.00% | ' | ' |
Business_Segments_Information_1
Business Segments Information / Major Customers Revenue and Operating Income (Loss) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
segment | ||||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of reportable segments | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | |||
Revenues | $20,655,000 | $21,073,000 | $21,248,000 | $19,496,000 | $20,749,000 | $20,949,000 | $18,284,000 | $19,461,000 | $82,472,000 | $79,443,000 | $83,634,000 | |||
Operating Income (Loss) | -2,777,000 | -1,054,000 | -1,858,000 | -3,996,000 | -1,313,000 | -31,729,000 | -3,727,000 | -2,975,000 | -9,685,000 | [1] | -39,744,000 | [1],[2] | 4,448,000 | [1],[3] |
Goodwill impairment charge | ' | ' | ' | ' | ' | 22,200,000 | ' | ' | ' | ' | ' | |||
Disc Publishing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 64,736,000 | 69,607,000 | 81,874,000 | |||
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 6,405,000 | [1] | 6,551,000 | [1],[2] | 9,659,000 | [1],[3] |
Business acquisition transaction costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | |||
Enterprise Content Distribution Software | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 17,736,000 | 9,836,000 | 1,760,000 | |||
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -16,090,000 | [1] | -46,295,000 | [1],[2] | -5,211,000 | [1],[3] |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,067,000 | ' | |||
Goodwill impairment charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,200,000 | ' | |||
Intangible asset impairment charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,300,000 | ' | |||
Qumu, Inc. | Enterprise Content Distribution Software | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | $1,200,000 | $1,700,000 | $400,000 | |||
[1] | Operating loss for the enterprise video content management software segment in 2013, 2012 and 2011 includes amortization expense of $1.2 million, $1.7 million and $0.4 million respectively, for amortization of intangible assets established as part of the acquisition of Qumu, Inc. | |||||||||||||
[2] | Operating loss for the enterprise video content management software segment includes recognized asset impairment charges consisting of $22.2 million of goodwill and $7.3 million of other intangible assets for 2012. See Note 8, bGoodwill and Intangible Assets,b for additional information regarding the Companybs intangible assets. | |||||||||||||
[3] | Operating income for the disc publishing segment in 2011 includes $1.7 million of nonrecurring transaction costs associated with the acquisition of Qumu, Inc. |
Business_Segments_Information_2
Business Segments Information / Major Customers Revenues and Accounts Receivable by Customers (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $20,655 | $21,073 | $21,248 | $19,496 | $20,749 | $20,949 | $18,284 | $19,461 | $82,472 | $79,443 | $83,634 |
Customer Concentration Risk | Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 82,472 | 79,443 | 83,634 |
Customer Concentration Risk | Revenues | Customer A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 9,551 | 8,044 | 13,667 |
Customer Concentration Risk | Current Receivables | Customer A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts Receivable | $348 | ' | ' | ' | $369 | ' | ' | ' | $348 | $369 | $430 |
Business_Segments_Information_3
Business Segments Information / Major Customers Revenues and Property, Plant, and Equipment by Region (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $20,655 | $21,073 | $21,248 | $19,496 | $20,749 | $20,949 | $18,284 | $19,461 | $82,472 | $79,443 | $83,634 |
Property and equipment, net | 5,419 | ' | ' | ' | 5,966 | ' | ' | ' | 5,419 | 5,966 | ' |
North America | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, net | 5,070 | ' | ' | ' | 5,553 | ' | ' | ' | 5,070 | 5,553 | ' |
Germany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, net | 316 | ' | ' | ' | 356 | ' | ' | ' | 316 | 356 | ' |
Asia | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, net | 33 | ' | ' | ' | 57 | ' | ' | ' | 33 | 57 | ' |
Customer Concentration Risk | Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 82,472 | 79,443 | 83,634 |
Customer Concentration Risk | North America | Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 52,871 | 51,413 | 51,706 |
Customer Concentration Risk | Europe | Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 21,980 | 19,414 | 22,083 |
Customer Concentration Risk | Asia and Latin America | Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $7,621 | $8,616 | $9,845 |
Business_Segments_Information_4
Business Segments Information / Major Customers Revenues By Products and Services (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $20,655 | $21,073 | $21,248 | $19,496 | $20,749 | $20,949 | $18,284 | $19,461 | $82,472 | $79,443 | $83,634 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% |
Disc Publishing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 64,736 | 69,607 | 81,874 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 78.00% | 88.00% | 98.00% |
Enterprise Content Distribution Software | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 17,736 | 9,836 | 1,760 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 22.00% | 12.00% | 2.00% |
Disc Publishing Equipment [Domain] | Disc Publishing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 17,303 | 23,779 | 30,424 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 21.00% | 30.00% | 36.00% |
Producer Equipment | Disc Publishing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 9,119 | 12,285 | 15,788 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | 15.00% | 19.00% |
Professional Equipment | Disc Publishing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 6,609 | 9,517 | 11,939 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | 12.00% | 14.00% |
Desktop | Disc Publishing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,575 | 1,977 | 2,697 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | 3.00% |
Consumables and Parts | Disc Publishing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 34,962 | 33,819 | 40,038 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 42.00% | 43.00% | 48.00% |
Service | Disc Publishing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 12,471 | 12,009 | 11,412 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | 15.00% | 14.00% |
Service | Enterprise Content Distribution Software | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 10,467 | 5,516 | 1,067 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 13.00% | 7.00% | 1.00% |
Total recurring | Disc Publishing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 47,433 | 45,828 | 51,450 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 58.00% | 58.00% | 62.00% |
Software Licenses and Appliances | Enterprise Content Distribution Software | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $7,269 | $4,320 | $693 |
Revenues, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | 5.00% | 1.00% |
Consolidation_of_Join_Venture_2
Consolidation of Join Venture Entity and Noncontrolling Interest (Details) (RIT, USD $) | 0 Months Ended | |
In Thousands, unless otherwise specified | Jul. 03, 2013 | Jun. 30, 2012 |
RIT | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' |
Ownership percentage in RIT | 100.00% | 51.00% |
Amount paid to acquired remaining common stock in RIT | $50 | ' |
Consolidation_of_Join_Venture_3
Consolidation of Join Venture Entity and Noncontrolling Interest Schedule (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at beginning of period | ' | ' | ' | $103 | ' | ' | ' | ' | $103 | ' | ' |
Net loss attributable to noncontrolling interest | 0 | 0 | -63 | -62 | -43 | -81 | -71 | -64 | -125 | -259 | -163 |
Foreign currency translation attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 2 | 17 |
Purchase of noncontrolling interest in consolidated subsidiary | 0 | ' | ' | ' | 103 | ' | ' | ' | 0 | 103 | ' |
Balance at end of period | ' | ' | ' | ' | ' | ' | ' | ' | -20 | ' | ' |
RIT | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at beginning of period | ' | ' | ' | 103 | ' | ' | ' | 360 | 103 | 360 | ' |
Net loss attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -125 | -259 | ' |
Foreign currency translation attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 2 | ' |
Purchase of noncontrolling interest in consolidated subsidiary | 0 | ' | ' | ' | 103 | ' | ' | ' | 0 | 103 | ' |
Balance at end of period | ' | ' | ' | ' | ' | ' | ' | ' | $21 | $0 | ' |
Investment_In_Software_Company1
Investment In Software Company (Details) (USD $) | Dec. 31, 2013 | Jan. 16, 2013 | Dec. 31, 2012 |
Investment [Line Items] | ' | ' | ' |
Investment carrying value | $3,100,000 | ' | $2,300,000 |
BriefCam Ltd. | ' | ' | ' |
Investment [Line Items] | ' | ' | ' |
Convertible note receivable | ' | 500,000 | 500,000 |
Preferred stock issuance with cash investment | ' | 350,000 | ' |
Investment carrying value | $3,100,000 | ' | $2,800,000 |
BriefCam Ltd. | Maximum | ' | ' | ' |
Investment [Line Items] | ' | ' | ' |
Minority ownership interest | 20.00% | ' | ' |
Supplemental_Quarterly_Data_Un2
Supplemental Quarterly Data - Unaudited (In thousands, except per share data) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Supplemental Income Statement Elements [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | $20,655 | $21,073 | $21,248 | $19,496 | $20,749 | $20,949 | $18,284 | $19,461 | $82,472 | $79,443 | $83,634 | |||
Cost of revenues | 10,701 | 11,151 | 10,798 | 10,262 | 10,096 | 10,811 | 9,987 | 9,888 | 42,912 | 40,782 | 41,613 | |||
Gross profit | 9,954 | 9,922 | 10,450 | 9,234 | 10,653 | 10,138 | 8,297 | 9,573 | 39,560 | 38,661 | 42,021 | |||
Research and development | 2,847 | 2,774 | 3,225 | 3,357 | 2,909 | 2,958 | 2,894 | 3,105 | 12,203 | 11,866 | 7,257 | |||
Selling, general and administrative | 9,727 | 8,044 | 8,927 | 9,716 | 8,900 | 9,077 | 8,866 | 9,196 | 36,414 | 36,039 | 30,093 | |||
Goodwill and intangible assets impairment charge | 0 | 0 | 0 | 0 | 0 | 29,548 | 0 | 0 | 0 | 29,548 | 0 | |||
Amortization of intangible assets | 157 | 158 | 156 | 157 | 157 | 284 | 264 | 247 | 628 | 952 | 223 | |||
Total operating expenses | 12,731 | 10,976 | 12,308 | 13,230 | 11,966 | 41,867 | 12,024 | 12,548 | 49,245 | 78,405 | 37,573 | |||
Operating income (loss) | -2,777 | -1,054 | -1,858 | -3,996 | -1,313 | -31,729 | -3,727 | -2,975 | -9,685 | [1] | -39,744 | [1],[2] | 4,448 | [1],[3] |
Interest, net | 4 | 9 | 4 | 11 | 27 | 27 | 19 | 2 | 28 | 75 | 195 | |||
Gain (loss) on currency exchange | -35 | 25 | -108 | -107 | -83 | 23 | -13 | -72 | -225 | -145 | 17 | |||
Other, net | 2 | 2 | 1 | -1 | 12 | 14 | -2 | 2 | 4 | 26 | 9 | |||
Total other income (expense), net | -29 | 36 | -103 | -97 | -44 | 64 | 4 | -68 | -193 | -44 | 221 | |||
Income (loss) before income taxes | -2,806 | -1,018 | -1,961 | -4,093 | -1,357 | -31,665 | -3,723 | -3,043 | -9,878 | -39,788 | 4,669 | |||
Income tax expense (benefit) | -57 | -1 | 53 | -54 | -199 | 11,184 | -902 | -1,274 | -59 | 8,809 | 1,997 | |||
Net Income (loss) | -2,749 | -1,017 | -2,014 | -4,039 | -1,158 | -42,849 | -2,821 | -1,769 | -9,819 | -48,597 | 2,672 | |||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 63 | 62 | 43 | 81 | 71 | 64 | 125 | 259 | 163 | |||
Net income (loss) attributable to Qumu | ($2,749) | ($1,017) | ($1,951) | ($3,977) | ($1,115) | ($42,768) | ($2,750) | ($1,705) | ($9,694) | ($48,338) | $2,835 | |||
Net income (loss) per basic share | ($0.32) | ($0.12) | ($0.22) | ($0.46) | ($0.12) | ($4.23) | ($0.27) | ($0.17) | ($1.12) | ($4.85) | $0.29 | |||
Net income (loss) per diluted share | ' | ' | ' | ' | ' | ' | ' | ' | ($1.12) | ($4.85) | $0.29 | |||
[1] | Operating loss for the enterprise video content management software segment in 2013, 2012 and 2011 includes amortization expense of $1.2 million, $1.7 million and $0.4 million respectively, for amortization of intangible assets established as part of the acquisition of Qumu, Inc. | |||||||||||||
[2] | Operating loss for the enterprise video content management software segment includes recognized asset impairment charges consisting of $22.2 million of goodwill and $7.3 million of other intangible assets for 2012. See Note 8, bGoodwill and Intangible Assets,b for additional information regarding the Companybs intangible assets. | |||||||||||||
[3] | Operating income for the disc publishing segment in 2011 includes $1.7 million of nonrecurring transaction costs associated with the acquisition of Qumu, Inc. |
Schedule_II_Valuation_Qualifyi1
Schedule II. Valuation & Qualifying Accounts (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts Receivable [Roll Forward] | ' | ' | ' |
Balance at beginning of year | $203 | $143 | $201 |
Write-offs and other adjustments | -67 | -20 | -45 |
Recoveries | 0 | 0 | 0 |
Change in provision | 47 | 80 | -13 |
Balance at end of year | $183 | $203 | $143 |