Stockholders' Equity Note Disclosure [Text Block] | NOTE 13:- STOCKHOLDERS’ EQUITY a. Preferred stock: The Company’s Board of Directors has the authority, without any further vote or action by the stockholders, to provide for the issuance of up to 5,000,000 shares of preferred stock in one or more series with such designations, rights, preferences, and limitations as the Board of Directors may determine, including the consideration received, the number of shares comprising each series, dividend rates, redemption provisions, liquidation preferences, sinking fund provisions, conversion rights and voting rights. No shares of preferred stock are currently outstanding. b. Common stock: Currently, 50,000,000 shares of common stock are authorized. Holders of common stock are entitled to one vote per share on all matters to be voted upon by the Company’s stockholders. Subject to the rights of holders of preferred stock, if any, in the event of liquidation, dissolution or winding up, holders of common stock are entitled to share ratably in all of the Company’s assets. The Company’s Board of Directors may declare a dividend out of funds legally available therefore and, subject to the rights of holders of preferred stock, if any, the holders of common stock are entitled to receive ratably any such dividends. Holders of common stock have no preemptive rights or other subscription rights to convert their shares into any other securities. There are no redemption or sinking fund provisions applicable to common stock. c. Dividend policy: At December 31, 2015 , the Company had an accumulated deficit of $90 ,763 . The Company has never paid cash dividends on the common stock and presently intends to follow a policy of retaining earnings for reinvestment in its business. d. Share repurchase program: In November 2013, the Company entered into a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, for the repurchase of up to 2,700,000 shares of its common stock. This amount is in addition to the approximately 308,000 shares that were available for repurchase under the board’s prior authorizations. Furthermore, in August 2015, the Company’s board of directors authorized an additional $10 million dollar share repurchase plan, of which 0.5 million shares are available for repurchase under a Rule 10b5-1 plan. In 2015 , 2014 and 2013 , the Company repurchased approximately 1,295 ,000, 1,414,000 and 390,000 shares, respectively, of common stock at an average purchase price of $10 .24 , $8.83 and $8.95 per share, respectively, for an aggregate purchase price of $13 ,267 , $12,484 and $3,490, respectively. As of December 31, 2015 , 905,040 shares of the Company’s common stock remained authorized for repurchase under the Company’s board-authorized share repurchase program. In 2015 , 2014 and 2013 , the Company issued 1 ,024,000, 908,000 and 1,066,000 shares, respectively, of common stock, out of treasury stock, to employees who exercised their equity awards under the Company’s equity incentive plans or purchased shares from the Company’s 1993 Employee Stock Purchase Plan (“ESPP”). e. Stock purchase plan and equity incentive plans: The Company has various equity incentive plans under which employees, officers, non-employee directors of the Company and its subsidiaries and others, including consultants, may be granted rights to purchase the Company’s common stock. The plans authorize the administrator, except for the grant of RSUs, to grant equity incentive awards at an exercise price of not less than 100% of the fair market value of the common stock on the date the award is granted. It is the Company’s policy to grant stock options and SARs at an exercise price that equals the fair market value Equity awards granted under all stock incentive plans that are cancelled or forfeited before expiration become available for future grant. Until the end of 2012, the Company granted to employees and executive officers of the Company primarily share appreciation rights (“SARs”), capped with a ceiling, under the various equity incentive plans. The SAR unit confers the holder the right to stock appreciation over a preset price of the Company’s common stock during a specified period of time. When the unit is exercised, the appreciation amount is paid through the issuance of shares of the Company’s common stock. The ceiling limits the maximum income for each SAR unit and the maximum number of shares to be issued. SARs are considered an equity instrument as it is a net share settled award capped with a ceiling. Starting in 2013, the Company granted to employees and executive officers of the Company primarily restricted stock units (“RSUs”) under the various equity incentive plans. An RSU award is an agreement to issue shares of our common stock at the time the award is vested. RSUs granted to employees and executive officers generally vest over a four year period from the grant date with 25% of the RSUs granted vesting on the first anniversary of the grant date and 6.25% vesting each quarter thereafter. A summary of the various plans is as follows: 1993 Director Stock Option Plan (Directors Plan) Upon the closing of the Company’s initial public offering, the Company adopted the Directors Plan. Under the Directors Plan, which expired in January 2014, the Company was authorized to issue nonqualified stock options to the Company’s outside non-employee directors to purchase up to 1,980,875 shares of common stock at an exercise price equal to the fair market value of the common stock on the date of grant. The Directors Plan, as amended, provided that each person who became an outside, non-employee director of the Board of Directors was automatically granted an option to purchase 30,000 shares of common stock (the “First Option”). Thereafter, each outside director was automatically granted an option to purchase 15,000 shares of common stock (a “Subsequent Option”) on January 1 of each year if, on such date, he had served on the Board of Directors for at least six months. In addition, an option to purchase an additional 15,000 shares of common stock (a “Committee Option”) was granted on January 1 of each year to each outside director for each committee of the Board on which had served as a chairperson for at least six months. Options granted under the Directors Plan generally had a term of 10 years. One-third of the shares were exercisable after the first year and thereafter one-third at the end of each twelve-month period. The Directors Plan expired in January 2014 and therefore no further awards may be granted thereunder. As of December 31, 2015, 2,464,933 shares of common stock had been granted under the plan and stock options to acquire 495,000 shares remained outstanding in the plan prior to its expiration. 1998 Non-Officer Employee Stock Option Plan (1998 Plan) In 1998, the Company adopted the 1998 Plan. Under the 1998 Plan, employees may be granted non-qualified stock options for the purchase of common stock. The 1998 Plan currently provides for the purchase of up to 5,062,881 shares of common stock. As of December 31, 2015, 35,473 shares of common stock remained available for grant under the 1998 Plan. The exercise price of options under the 1998 Plan shall not be less than the fair market value of common stock for nonqualified stock options, as determined by the Company’s Board of Directors or a committee appointed by the Company’s Board of Directors. Options under the 1998 Plan are generally exercisable over a 48-month period beginning 12 months after issuance, or as determined by the Company’s Board of Directors or a committee appointed by the Company’s Board of Directors. Options under the 1998 Plan expire up to seven years after the date of grant. 2001 Stock Incentive Plan (2001 Plan) In 2001, the Company adopted the 2001 Plan. The 2001 Plan expired in 2011 and no further grants of awards may be made thereunder. As of December 31, 2015, 2,194,847 shares of common stock were granted under the plan, stock options to acquire 10,000 shares remained outstanding in the plan prior to its expiration. The 2001 Plan authorized the administrator to grant incentive stock options at an exercise price of not less than 100% of the fair market value of the common stock on the date the option is granted. Equity awards under the 2001 Plan were generally exercisable over a 48-month period beginning 12 months after issuance or as determined by the Company’s Board of Directors or a committee appointed by the Company’s Board of Directors. Equity awards under the 2001 plan expired up to seven years after the date of grant. 2003 Israeli Share Incentive Plan (2003 Plan) In 2003, the Company adopted the 2003 Plan, which complied with the Israeli tax reforms. The 2003 Plan terminated in 2012 upon approval of the Company’s 2012 Equity Incentive Plan (the “2012 Plan”). As of December 31, 2015, 10,700,543 shares of common stock had been granted under the plan and stock option and SARs to acquire 922,595 shares of common stock remained outstanding under the plan. As the 2003 Plan expired in May 2012, no further awards may be granted thereunder. Equity awards under the 2003 Plan were generally exercisable over a 48-month period beginning 12 months after issuance, or as determined by the Company’s Board of Directors or a committee appointed by the Company’s Board of Directors. Equity awards under the 2003 Plan expired up to seven years after the date of grant. 2012 Equity Incentive Plan (2012 Plan) In 2012, the Company adopted the 2012 Plan, which also complies with the Israeli tax reforms. Under the 2012 Plan, employees, directors and consultants may be granted incentive or non-qualified stock options, SARs, RSUs and other awards under the plan. The exercise price of the equity awards under the 2012 Plan shall not be less than the fair market value of common stock at the time of grant, unless otherwise determined by the Company’s Board of Directors or a committee appointed by the Company’s Board of Directors. The 2012 Plan currently provides for the purchase of up to 2,450,000 shares of common stock. As of December 31, 2015, 1,027,577 shares of common stock remained available for grant under the 2012 Plan. Stock options, SARs and RSUs awarded under the 2012 Plan to employees and executive officers are generally exercisable over a 48-month period beginning 12 months after issuance, or as determined by the Company’s Board of Directors or a committee appointed by the Company’s Board of Directors Equity awards under the 2012 Plan expire up to seven years after the date of grant. A director subplan was established under the 2012 Plan to provide for the grant of equity awards to the Company’s non-employee directors. The director subplan is designed to work automatically; however, to the extent administration is necessary, it would be provided by the Company’s board of directors. Starting in 2014, non-employee directors are granted automatically under the director subplan, on January 1 of each year, 8,000 stock options and 4,000 restricted stock units, all of which would fully vest at the end of one year from the grant date. If a director is appointed for a term commencing during a calendar year, the director would be granted stock options and restricted stock units on the date of appointment and the number of stock options and restricted stock units granted would be based upon the number of days remaining in the in the calendar year following the date such person was nominated as a director. Solely with respect to calendar year 2014, in addition to the grants of 8,000 stock options and 4,000 restricted stock units on January 1, 2014 to all then elected board members, each committee chair also received an automatic grant of stock options of 15,000 shares. 1993 Employee Stock Purchase Plan (ESPP) Upon the closing of the Company’s initial public offering, the Company adopted the ESPP. The Company has reserved an aggregate of 4,800,000 shares of common stock for issuance under the ESPP. The ESPP provides that substantially all employees of the Company may purchase Company common stock at 85% of its fair market value on specified dates via payroll deductions. There were approximately 233,000, 310,000 and 374,000 shares of common stock issued at a weighted average purchase price of $7.59, $5.55 and $4.44 per share under the ESPP in 2015, 2014 and 2013, respectively. As of December 31, 2015, 1,170,000 shares of common stock were reserved under the ESPP. Stock Reserved for Future Issuance The following table summarizes the number of shares available for future issuance at December 31, 2015 (after giving effect to the above increases in the equity incentive plans): ESPP 1,170,000 Equity awards 1,063,000 Undesignated preferred stock 5,000,000 7,233,000 The following is a summary of activities relating to the Company’s stock options, SARs and RSUs granted among the Company’s various plans: Year ended December 31, 2015 2014 2013 Amount of options/ SARs/RSUs Weighted average exercise price Aggregate intrinsic value (4) Amount of options/ SARs/RSUs Weighted average exercise price Aggregate intrinsic value (4) Amount of options/ SARs/RSUs Weighted average exercise price Aggregate intrinsic value (4) in thousands in thousands in thousands Options outstanding at beginning of year 4,644 $ 6.52 $ - 6,537 $ 8.68 $ - 9,622 $ 10.72 $ - Changes during the year: Options granted 179 $ 11.2 $ - 232 $ 9.15 $ - 524 $ 6.42 $ - RSUs granted 405 $ - $ - 337 $ - $ - 552 $ - $ - Exercised (4) (1,403 ) $ 5.68 $ 7,302 (1,715 ) $ 7.92 $ 3,537 (2,105 ) $ 6.49 $ 3,795 Forfeited and cancelled (85 ) $ 12.21 $ - (747 ) $ 20.11 $ - (2,056 ) $ 17.56 $ - Options/SARs/RSUs outstanding at end of year (1,2,4) 3,740 $ 6.22 $ 13,364 4,644 $ 6.52 $ 21,409 6,537 $ 8.68 $ 16,673 Options/SARs/RSUs exercisable at end of year (1,3,4) 2,552 $ 7.47 $ 6,031 3,106 $ 7.73 $ 10,941 4,623 $ 10.30 $ 7,230 (1) SAR grants made prior to January 1, 2009 are convertible for a maximum number of shares of the Company’s common stock equal to 50% of the SAR units subject to the grant. SAR grants made on or after January 1, 2009 and before January 1, 2010 are convertible for a maximum number of shares of the Company’s common stock equal to 75% of the SAR units subject to the grant. SAR grants made on or after January 1, 2010 are convertible for a maximum number of shares of the Company’s common stock equal to 66.67% of the SAR units subject to the grant. SAR grants made on or after January 1, 2012 are convertible for a maximum number of shares of the Company’s common stock equal to 50% of the SAR units subject to the grant. (2) Due to the ceiling imposed on the SAR grants, the outstanding amount above can be exercised for a maximum of 3,154,626 shares of the Company’s common stock as of December 31, 2015. (3) Due to the ceiling imposed on the SAR grants, the exercisable amount above can be exercised for a maximum of 1,992,668 shares of the Company’s common stock as of December 31, 2015. (4) Calculation of aggregate intrinsic value for options, RSUs and SARs outstanding and exercisable is based on the share price of the Company’s common stock as of December 31, 2015, 2014 and 2013 which was $9.44, $10.87 and $9.71 per share, respectively. The intrinsic value for options, RSUs and SARs exercised during those years represents the difference between the fair market value of the Company’s common stock on the date of exercise and the exercise price of each option, RSU or SAR, as applicable. The stock options and SARs outstanding as of December 31, 2015, have been separated into ranges of exercise price as follows: Range of exercise price Outstanding Remaining contractual life (years) (1) Weighted average exercise price Exercisable Remaining contractual life (years) Weighted average exercise price $ thousands $ thousands $ 0 (RSUs) 706 - - - - - 5.21 - 7.26 1,797 2.68 6.48 1,625 2.51 6.51 7.49 - 9.71 958 3.87 8.04 827 3.45 7.93 10.87 - 15.79 219 6.21 11.54 40 1.96 13.10 21.07 - 25.06 60 0.50 23.38 60 0.50 23.38 3,740 3.27 6.22 2,552 2.76 7.47 (1) Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term. As of December 31, 2015, the outstanding number of SARs was 1,541,977 and based on the share price of the Company’s common stock as of December 31, 2015 ($9.44 per share), 1,541,977 of those SARs were in the money as of December 31, 2015. The weighted average estimated fair value of employee RSUs granted during 2015, 2014 and 2013 was $10.43, $7.94 and $6.17 per share, respectively, (using the weighted average pre vest cancellation rate of 3.49%, 3.79% and 3.84% during 2015, 2014 and 2013, respectively, on an annual basis). The weighted-average estimated fair value of employee stock options granted during the years ended December 31, 2015, 2014 and 2013 was $3.80, $3.47 and $4.90 per stock option, respectively, using the binomial model with the following weighted-average assumptions (annualized percentages): Year ended December 31, 201 5 2014 2013 Volatility 49.04 % 43.14 % 46.24 % Risk-free interest rate 1.96 % 1.85 % 1.39 % Dividend yield 0 % 0 % 0 % Pre-vest cancellation rate *) 3.95 % 4.17 % 3.48 % Post-vest cancellation rate **) 3.86 % 4.09 % 2.52 % Suboptimal exercise factor ***) 1.46 1.61 1.81 Expected life ( 4.43 3.27 4.66 *) The pre-vest cancellation rate was calculated on an annual basis and is presented here on an annual basis. **) The post-vest cancellation rate was calculated on a monthly basis and is presented here on an annual basis. ***) The ratio of the stock price to strike price at the time of exercise of the option. The computation of volatility uses a combination of historical volatility and implied volatility derived from the Company’s exchange traded options with similar characteristics. The risk-free interest rate assumption is based on U.S. treasury bill interest rates appropriate for the term of the Company’s employee equity-based awards. The dividend yield assumption is based on the Company’s historical and expectation of future dividend payouts and may be subject to substantial change in the future. The expected term of employee equity-based awards represents the weighted-average period the awards are expected to remain outstanding and is a derived output of the binomial model. The expected life of employee equity-based awards is impacted by all of the underlying assumptions used in the Company’s model. The binomial model assumes that employees’ exercise behavior is a function of the award’s remaining contractual life and the extent to which the award is in-the-money (i.e., the average stock price during the period is above the strike price of the award). The binomial model estimates the probability of exercise as a function of these two variables based on the history of exercises and cancellations on past award grants made by the Company. As equity-based compensation expense recognized in the consolidated statement of operations is based on awards ultimately expected to vest, it should be reduced for estimated forfeitures. The forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Pre and post-vesting forfeitures were estimated based on historical experience. The fair value for rights to purchase shares of common stock under the Company’s ESPP was estimated on each enrollment date using the same assumptions set forth above for the years ended 2015, 2014 and 2013 except the expected life and the volatility. The expected life was assumed to be between six to 24 months based on the contractual life of the plan, and the expected volatility was assumed to be in a range of 22.83%-34.53% in 2015, 29.06%-37.17% in 2014 and 36.37%-44.19% in 2013. The Company’s aggregate equity compensation expenses for the years ended December 31, 2015, 2014 and 2013 totaled $5,092, $5,359 and $4,159, respectively. The Company recognized no tax benefit in its consolidated statements of operations for the years ended December 31, 2015, 2014 and 2013 for the Company’s equity-based compensation arrangements. A summary of the status of the Company’s non-vested stock options, SARs and RSUs as of December 31, 2015, and changes during the year ended December 31, 2015, is presented below: Non-vested Units Weighted average grant date fair value (In thousands) Non-vested at January 1, 2015 1,538 5.01 Granted 584 8.38 Vested (910 ) 6.00 Forfeited (24 ) 4.68 Non-vested at December 31, 2015 1,188 6.90 As of December 31, 2015, equity-based compensation arrangements to purchase a maximum of approximately 2,902,000 shares of common stock were vested and expected to vest (the calculation takes into consideration the average forfeiture rate). As of December 31, 2015, there was a total unrecognized compensation expense of $3,061 related to non-vested equity-based compensation arrangements granted under the Company’s various equity incentive plans. That expense is expected to be recognized during the period from 2016 through 2019. |