Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 04, 2016 | Jun. 30, 2015 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | DSP GROUP INC /DE/ | ||
Trading Symbol | dspg | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 21,731,537 | ||
Entity Public Float | $ 151,631,477 | ||
Amendment Flag | false | ||
Entity Central Index Key | 915,778 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 13,704,000 | $ 20,544,000 |
Restricted deposits | 168,000 | 623,000 |
Marketable securities and short-term deposits (Note 3) | 18,070,000 | 11,508,000 |
Trade receivables, net | 19,211,000 | 20,298,000 |
Other accounts receivable and prepaid expenses (Note 4) | 3,319,000 | 1,902,000 |
Inventories (Note 5) | 11,453,000 | 15,635,000 |
Total current assets | 65,925,000 | 70,510,000 |
PROPERTY AND EQUIPMENT, NET (Note 6) | 3,764,000 | 2,843,000 |
LONG-TERM ASSETS: | ||
Long-term marketable securities (Note 3) | 89,714,000 | 92,269,000 |
Long-term prepaid expenses and lease deposits | 743,000 | 1,162,000 |
Deferred income taxes (Note 15) | 1,311,000 | 924,000 |
Severance pay fund | 11,578,000 | 10,860,000 |
Investment in other company (Note 9) | 1,800,000 | 2,200,000 |
Intangible assets, net (Note 7) | 3,851,000 | 5,135,000 |
Goodwill | 5,276,000 | 5,276,000 |
114,273,000 | 117,826,000 | |
Total assets | 183,962,000 | 191,179,000 |
CURRENT LIABILITIES: | ||
Trade payables | 13,103,000 | 15,282,000 |
Accrued compensation and benefits | 7,788,000 | 9,408,000 |
Income tax accruals and payables | 1,864,000 | 1,151,000 |
Accrued expenses and other accounts payable (Note 10) | 4,818,000 | 5,852,000 |
Total current liabilities | 27,573,000 | 31,693,000 |
LONG-TERM LIABILITIES: | ||
Deferred income taxes (Note 15) | 476,000 | 845,000 |
Accrued severance pay | 11,703,000 | 10,929,000 |
Accrued pensions (Note 11) | 892,000 | 1,089,000 |
Total long-term liabilities | $ 13,071,000 | $ 12,863,000 |
COMMITMENTS AND CONTINGENCIES (Note 14) | ||
Common stock, $0.001 par value - | ||
Authorized: 50,000,000 shares at December 31, 2015 and 2014; Issued and outstanding: 21,572,616 and 21,843,950 shares at December 31, 2015 and 2014, respectively | $ 22,000 | $ 22,000 |
Additional paid-in capital | 361,023,000 | 355,906,000 |
Treasury stock at cost | (125,697,000) | (122,387,000) |
Accumulated other comprehensive loss | (1,267,000) | (1,566,000) |
Accumulated deficit | (90,763,000) | (85,352,000) |
Total stockholders’ equity | 143,318,000 | 146,623,000 |
Total liabilities and stockholders’ equity | $ 183,962,000 | $ 191,179,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Common stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized | 50,000,000 | 50,000,000 |
Common stock, issued | 21,572,616 | 21,843,950 |
Common stock, outstanding | 21,572,616 | 21,843,950 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Revenues | $ 144,271,000 | $ 143,036,000 | $ 151,063,000 | |
Costs of revenues (1) | [1] | 84,411,000 | 85,992,000 | 91,237,000 |
Gross profit | 59,860,000 | 57,044,000 | 59,826,000 | |
Operating expenses: | ||||
Research and development, net (2) | [2] | 35,483,000 | 33,468,000 | 35,000,000 |
Sales and marketing (3) | [3] | 12,103,000 | 11,905,000 | 11,273,000 |
General and administrative (4) | [4] | 9,876,000 | 10,541,000 | 11,812,000 |
Amortization of intangible assets | 1,284,000 | 1,573,000 | 1,672,000 | |
Write-off of expired option related to investment in other company | 400,000 | 0 | ||
Total operating expenses | 59,146,000 | 57,487,000 | 59,757,000 | |
Operating income (loss) | 714,000 | (443,000) | 69,000 | |
Financial income, net (Note 12) | 1,175,000 | 1,204,000 | 2,457,000 | |
Income before income tax benefit | 1,889,000 | 761,000 | 2,526,000 | |
Income tax benefit (expense) | (327,000) | 2,841,000 | 150,000 | |
Net income | $ 1,562,000 | $ 3,602,000 | $ 2,676,000 | |
Net earnings per share: | ||||
Basic (in Dollars per share) | $ 0.07 | $ 0.16 | $ 0.12 | |
Diluted (in Dollars per share) | $ 0.07 | $ 0.16 | $ 0.12 | |
Weighted average number of shares used in per share computations of: | ||||
Basic net earnings per share (in Shares) | 21,924 | 21,968 | 22,249 | |
Diluted net earnings per share (in Shares) | 23,340 | 22,954 | 22,906 | |
[1] | Includes equity-based compensation expense in the amount of $300, $300 and $253 for the years ended December 31, 2015, 2014 and 2013, respectively. | |||
[2] | Includes equity-based compensation expense in the amount of $2,201, $2,381 and $1,873 for the years ended December 31, 2015, 2014 and 2013, respectively. | |||
[3] | Includes equity-based compensation expense in the amount of $641, $621 and $478 for the years ended December 31, 2015, 2014 and 2013, respectively. | |||
[4] | Includes equity-based compensation expense in the amount of $1,950, $2,057 and $1,555 for the years ended December 31, 2015, 2014 and 2013, respectively. |
Consolidated Statements of Ope5
Consolidated Statements of Operations (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Equity-based compensation expense included in cost of revenues | $ 300 | $ 300 | $ 253 |
Equity-based compensation expenses included in research and development, net | 2,201 | 2,381 | 1,873 |
Equity-based compensation expense included in sales and marketing | 641 | 621 | 478 |
Equity-based compensation expense included in general and administrative | $ 1,950 | $ 2,057 | $ 1,555 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net income: | $ 1,562 | $ 3,602 | $ 2,676 |
Available-for-sale securities: | |||
Changes in unrealized gains/losses | (230) | 157 | (304) |
Reclassification adjustments for losses (gains) included in net income (loss) | 24 | (61) | (1,009) |
Net change | (206) | 96 | (1,313) |
Cash flow hedges: | |||
Changes in unrealized gains/losses | (38) | (1,180) | 372 |
Reclassification adjustments for (gains) losses included in net income (loss) | 621 | 562 | (856) |
Net change | 583 | (618) | (484) |
Change in unrealized components of defined benefit plans: | |||
Gains (losses) arising during the period | 63 | (209) | (11) |
Amortization of actuarial loss and prior service benefit | 20 | 11 | 11 |
Net change | 83 | (198) | |
Foreign currency translation adjustments, net | (161) | (25) | (12) |
Other comprehensive income (loss) | 299 | (745) | (1,809) |
Comprehensive income | $ 1,861 | $ 2,857 | $ 867 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total | |
Balance at Dec. 31, 2012 | $ 22 | $ 346,335 | $ (125,724) | $ 988 | $ (79,394) | $ 142,227 | |
Balance (in Shares) at Dec. 31, 2012 | 21,674,000 | ||||||
Cont. | |||||||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan | [1] | 3,668 | (2,004) | 1,664 | |||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan (in Shares) | 374,000 | ||||||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and restricted share units by employees and directors | $ 1 | 6,796 | (4,813) | 1,984 | |||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and restricted share units by employees and directors (in Shares) | 692,000 | ||||||
Purchase of treasury stock | $ (1) | (3,489) | $ (3,490) | ||||
Purchase of treasury stock (in Shares) | (390,000) | 390,000 | |||||
Equity-based compensation | 4,159 | $ 4,159 | |||||
Net income | 2,676 | 2,676 | |||||
Change in accumulated other comprehensive income | (1,809) | (1,809) | |||||
Balance at Dec. 31, 2013 | $ 22 | 350,494 | (118,749) | (821) | (83,535) | 147,411 | |
Balance (in Shares) at Dec. 31, 2013 | 22,350,000 | ||||||
Cont. | |||||||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan | [1] | 3,031 | (1,309) | 1,722 | |||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan (in Shares) | 310,000 | ||||||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and restricted share units by employees and directors | $ 1 | 53 | 5,814 | (4,110) | 1,758 | ||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and restricted share units by employees and directors (in Shares) | 598,000 | ||||||
Purchase of treasury stock | $ (1) | (12,483) | $ (12,484) | ||||
Purchase of treasury stock (in Shares) | (1,414,000) | 1,414,000 | |||||
Equity-based compensation | 5,359 | $ 5,359 | |||||
Net income | 3,602 | 3,602 | |||||
Change in accumulated other comprehensive income | (745) | (745) | |||||
Balance at Dec. 31, 2014 | $ 22 | 355,906 | (122,387) | (1,566) | (85,352) | 146,623 | |
Balance (in Shares) at Dec. 31, 2014 | 21,844,000 | ||||||
Cont. | |||||||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan | [1] | 2,269 | (500) | 1,769 | |||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan (in Shares) | 233,000 | ||||||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and restricted share units by employees and directors | $ 1 | 25 | 7,689 | (6,473) | 1,242 | ||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and restricted share units by employees and directors (in Shares) | 791,000 | ||||||
Purchase of treasury stock | $ (1) | (13,268) | $ (13,269) | ||||
Purchase of treasury stock (in Shares) | (1,295,000) | 1,295,000 | |||||
Equity-based compensation | 5,092 | $ 5,092 | |||||
Net income | 1,562 | 1,562 | |||||
Change in accumulated other comprehensive income | 299 | 299 | |||||
Balance at Dec. 31, 2015 | $ 22 | $ 361,023 | $ (125,697) | $ (1,267) | $ (90,763) | $ 143,318 | |
Balance (in Shares) at Dec. 31, 2015 | 21,573,000 | ||||||
[1] | Represents an amount lower than $1. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities: | |||
Net income | $ 1,562,000 | $ 3,602,000 | $ 2,676,000 |
Adjustments required to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 1,356,000 | 1,290,000 | 1,994,000 |
Equity-based compensation expenses related to employees’ stock options, SARs and RSUs | 5,092,000 | 5,359,000 | 4,159,000 |
Capital loss from sale and disposal of property and equipment | 4,000 | ||
Realized losses (gains) from sale of marketable securities | 24,000 | (61,000) | (1,009,000) |
Amortization of intangible assets | 1,284,000 | 1,573,000 | 1,672,000 |
Write-off of expired option related to investment in other company | 400,000 | 0 | |
Accrued interest and amortization of premium on marketable securities and short-term deposits | 847,000 | 1,214,000 | 747,000 |
Change in operating assets and liabilities: | |||
Deferred income tax assets and liabilities, net | (756,000) | (1,170,000) | (377,000) |
Trade receivables, net | 945,000 | 704,000 | (767,000) |
Other accounts receivable and prepaid expenses | (987,000) | 719,000 | 536,000 |
Inventories | 4,131,000 | (3,333,000) | 587,000 |
Long-term prepaid expenses and lease deposits | (31,000) | (1,052,000) | 153,000 |
Trade payables | (2,180,000) | 1,142,000 | 121,000 |
Accrued compensation and benefits | 184,000 | 1,323,000 | 3,952,000 |
Income tax accruals and payables | 800,000 | (730,000) | 54,000 |
Accrued expenses and other accounts payable | (499,000) | (289,000) | (989,000) |
Accrued severance pay, net | 55,000 | 58,000 | (228,000) |
Accrued pensions | (7,000) | 30,000 | (31,000) |
Net cash provided by operating activities | 12,224,000 | 10,379,000 | 13,250,000 |
Cash flows from investing activities: | |||
Purchase of marketable securities | (35,475,000) | (70,517,000) | (67,850,000) |
Purchase of short-term deposits | (5,563,000) | (2,561,000) | (2,849,000) |
Proceeds from maturity of marketable securities | 20,127,000 | 23,250,000 | 18,325,000 |
Proceeds from sales of marketable securities | 13,238,000 | 46,491,000 | 42,949,000 |
Proceeds from redemption of short-term deposits | 2,589,000 | 2,561,000 | 2,849,000 |
Purchases of property and equipment | (2,297,000) | (1,315,000) | (1,118,000) |
Investment in other company | (2,200,000) | ||
Decrease (Increase) in restricted deposits | 455,000 | (556,000) | |
Net cash used in investing activities | (6,926,000) | (2,647,000) | (9,894,000) |
Cash flows from financing activities: | |||
Issuance of common stock and treasury stock upon exercise of stock options and SARs | 1,242,000 | 1,758,000 | 1,984,000 |
Purchase of treasury stock | (13,206,000) | (12,484,000) | (3,490,000) |
Net cash used in financing activities | (11,964,000) | (10,726,000) | (1,506,000) |
Increase (decrease) in cash and cash equivalents | (6,666,000) | (2,994,000) | 1,850,000 |
Cash and cash equivalents at the beginning of the year | 20,544,000 | 23,578,000 | 21,684,000 |
Cash (erosion) due to exchange rate differences | (174,000) | (40,000) | 44,000 |
Cash and cash equivalents at the end of the year | 13,704,000 | 20,544,000 | 23,578,000 |
Cash paid during the year for: | |||
Taxes on income | $ 134,000 | $ 131,000 | $ 149,000 |
Note 1 - General
Note 1 - General | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1:- GENERAL DSP Group, Inc., a Delaware corporation, and its subsidiaries (collectively, the “Company”), are a fabless semiconductor company offering advanced chipset solutions for a variety of applications. The Company is a worldwide leader in the short-range wireless communication market, enabling home networking convergence for voice, audio, video and data. The Company sells its products primarily through distributors and directly to OEMs and original design manufacturers (ODMs) who incorporate the Company’s products into consumer and enterprise products. The Company’s future performance will depend, in part, on the continued success of its distributors in marketing and selling its products. The loss of the Company’s distributors and the Company’s inability to obtain satisfactory replacements in a timely manner may harm the Company’s sales and results of operations. In addition, the Company expects that a limited number of customers, varying in identity from period-to-period, will account for a substantial portion of its revenues in any period. The loss of, or reduced demand for products from, any of the Company’s major customers could have a material adverse effect on the Company’s business, financial condition and results of operations. Sales to Hong Kong-based VTech Holdings Ltd. (“VTech”) represented 31%, 35% and 36% of the Company’s total revenues for 2015, 2014 and 2013, respectively. Sales to Hong Kong-based Guo Wei Electronics Ltd. (“Guo Wei”) represented 12%, 8% and 8% of the Company’s total revenues for 2015, 2014 and 2013, respectively. Revenues derived from sales through one distributor, Tomen Electronics Corporation (“Tomen Electronics”), accounted for 16%, 20% and 19% of the Company’s total revenues for 2015, 2014 and 2013, respectively. Tomen Electronics sells the Company’s products to a limited number of customers. One customer, Panasonic Communications Co., Ltd. (“Panasonic”), has continually accounted for a majority of the sales of Tomen Electronics. Sales to Panasonic through Tomen Electronics generated approximately 13%, 15% and 14% of the Company’s total revenues for 2015, 2014 and 2013, respectively. Revenues derived from sales through another distributor, Ascend Technology Inc. (“Ascend Technology”) accounted for 15%, 10% and 9% of the Company’s total revenues for 2015, 2014 and 2013, respectively. Ascend Technology sells the Company’s products to a limited number of customers; however none of those customers accounted for more than 10% of the Company’s total revenues for 2015, 2014 and 2013. The Japanese and Hong Kong markets and the OEMs that operate in those markets are among the largest suppliers in the world with significant market share in the U.S. market for residential wireless products. The majority of the revenues derived from the above mentioned customers are included in the Home segment. All of the Company’s integrated circuit products are manufactured and tested by independent foundries and test houses. While these foundries and test houses have been able to adequately meet the demands of the Company’s business, the Company is and will continue to be dependent upon these foundries and test houses to achieve acceptable manufacturing yields, quality levels and costs, and to allocate to the Company a sufficient portion of foundry and test capacity to meet the Company’s needs in a timely manner. Revenues could be materially and adversely affected should any of these foundries and test houses fail to meet the Company’s request for product manufacturing due to a shortage of production capacity, process difficulties, low yield rates or financial instability. Additionally, certain of the raw materials, components, and subassemblies included in the products manufactured by the Company’s original equipment manufacturer (OEM) customers, which incorporate the Company’s products, are obtained from a limited group of suppliers. Disruptions, shortages, or termination of certain of these sources of supply could occur and could negatively affect the Company’s financial condition and results of operations. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements are prepared according to United States generally accepted accounting principles (“U.S. GAAP”). a. Use of estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time that these estimates, judgments and assumptions are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. b. Financial statements in U.S. dollars: Most of the Company’s revenues are generated in U.S. dollars (“dollar”). In addition, a substantial portion of the Company’s costs are incurred in dollars. The Company’s management believes that the dollar is the currency of the primary economic environment in which the Company operates. Thus, the functional and reporting currency of the Company is the dollar. Monetary accounts maintained in currencies other than the dollar are remeasured into dollars in accordance with ASC No. 830-30, “Translation of Financial Statements.” All transaction gains and losses resulting from the remeasurement of monetary balance sheet items are reflected in the consolidated statements of operations as financial income or expenses as appropriate. The financial statements of the Company’s subsidiary – DSP Group Technologies GmbH whose functional currency is in Euro, has been translated into dollars. All amounts on the balance sheets have been translated into the dollar using the exchange rates in effect on the relevant balance sheet dates. All amounts in the consolidated statements of operations have been translated into the dollar using the average exchange rate for the relevant periods. The resulting translation adjustments are reported as a component of accumulated other comprehensive income (loss) in changes in stockholders’ equity. Accumulated other comprehensive loss related to foreign currency translation adjustments, net amounted to $379 and $218 as of December 31, 2015 and 2014, respectively. c. Principles of consolidation: The consolidated financial statements include the accounts of the Company. Intercompany transactions and balances have been eliminated in consolidation. d. Cash equivalents: Cash equivalents are short-term highly liquid investments, which are readily convertible to cash with original maturity of three months or less from the date of acquisition. e. Restricted deposits: Restricted deposits include deposits which are used as security for derivative instruments and for one of the Company’s lease agreements. f. Short-term deposits: Bank deposits with original maturities of more than three months and less than one year are presented at cost, including accrued interest. g. Marketable securities: The Company accounts for investments in debt securities in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 320-10, “Investments in Debt and Equity Securities.” Management determines the appropriate classification of the Company’s investments in debt securities at the time of purchase and reevaluates such determinations at each balance sheet date. The Company classified all of its investments in marketable securities as available for sale. Available-for-sale securities are carried at fair value, with the unrealized gains and losses, reported in other comprehensive income (loss) using the specific identification method. Unrealized losses determined to be other-than-temporary are recorded as a financial expense. The amortized cost of marketable securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization is included in financial income, net. Interest and dividends on securities are included in financial income, net. The marketable securities are periodically reviewed for impairment. If management concludes that any of these investments are impaired, management determines whether such impairment is other-than-temporary. Factors considered in making such a determination include the duration and severity of the impairment, the reason for the decline in value and the potential recovery period, and the Company’s intent to sell, or whether it is more likely than not that the Company will be required to sell the investment before recovery of cost basis. For debt securities, only the decline attributable to deteriorating credit of an-other-than-temporary impairment is recorded in the consolidated statement of operations, unless the Company intends, or more likely than not it will be forced, to sell the security. During the years ended December 31, 2015, 2014 and 2013, the Company did not record an-other-than-temporary impairment loss (see Note 3). h. Fair value of financial instruments: Cash and cash equivalents, restricted deposits, short-term deposits, trade receivables, trade payables and accrued liabilities approximate fair value due to short term maturities of these instruments. Marketable securities and derivative instruments are carried at fair value. See Note 3 for more information. Fair value is an exit price, representing the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in valuation methodologies to measure fair value: Level 1- Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2- Include other inputs that are directly or indirectly observable in the marketplace. Level 3- Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. i. Inventories: Inventories are stated at the lower of cost or market value. Inventory reserves are provided to cover risks arising from slow-moving items or technological obsolescence. The Company and its subsidiaries periodically evaluate the quantities on hand relative to historical, current and projected sales volume. Based on this evaluation, an impairment charge is recorded when required to write-down inventory to its market value. Cost is determined as follows: Work in progress and finished products- on the basis of raw materials and manufacturing costs on an average basis. The Company regularly evaluates the ability to realize the value of inventory based on a combination of factors, including the following: historical usage rates and forecasted sales according to outstanding backlogs. Purchasing requirements and alternative usage are explored within these processes to mitigate inventory exposure. When recorded, the reserves are intended to reduce the carrying value of inventory to its net realizable value. Inventory of $11,453, $15,635 and $12,334 as of December 31, 2015, 2014 and 2013, respectively, is stated net of inventory reserves of $670, $505 and $591 in each year, respectively. If actual demand for the Company’s products deteriorates, or market conditions are less favorable than those projected, additional inventory reserves may be required. j. Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers and equipment 20 - 33 Office furniture and equipment 6 - 15 Leasehold improvements The shorter of term of the lease or the useful life of the asset Property and equipment of the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is measured by a comparison of the carrying amount of such assets to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During the years ended December 31, 2015, 2014 and 2013, no impairment losses were identified for property and equipment. The Company accounts for costs of computer software developed or obtained for internal use in accordance with FASB ASC No. 350-40, “The Internal Use Software.” FASB ASC 350-40 requires the capitalization of certain costs incurred in connection with developing or obtaining internal use software. During 2015, 2014 and 2013, the Company capitalized $1,086, $128 and $34, respectively, of internal use software cost. Such costs are amortized using the straight-line method over their estimated useful life of three years. k. Goodwill and other intangible assets: The goodwill and certain other purchased intangible assets have been recorded as a result of the BoneTone Acquisition and the CIPT Acquisition. Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill is not amortized, but rather is subject to an annual impairment test. ASC 350 prescribes a two-phase process for impairment testing of goodwill. The first phase screens for impairment, while the second phase (if necessary) measures impairment. Goodwill impairment is deemed to exist if the net book value of a reporting unit exceeds its estimated fair value. In such a case, the second phase is then performed, and the Company measures impairment by comparing the carrying amount of the reporting unit’s goodwill to the implied fair value of that goodwill. An impairment loss is recognized in an amount equal to the excess. ASC 350 allows an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. An entity is not required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. Alternatively, ASC 350 permits an entity to bypass the qualitative assessment for any reporting unit and proceed directly to performing the first step of the goodwill impairment test. The Company performs an annual impairment test on December 31 of each fiscal year, or more frequently if impairment indicators are present. The Company’s reporting units are consistent with the reportable segments identified in Note 17. Fair value is determined using discounted cash flows, market multiples and market capitalization. Significant estimates used in the methodologies include estimates of future cash-flows, future short-term and long-term growth rates, weighted average cost of capital and market multiples for the reporting unit. For the fiscal year ended December 31, 2015, 2014 and 2013, the Company performed a quantitative assessment on its goodwill and no impairment losses were identified. Intangible assets that are not considered to have an indefinite useful life are amortized using the straight-line basis over their estimated useful lives, which range from 3 to 7.3 years. The carrying amount of these assets is reviewed whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of these assets is measured by comparison of the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate. If such asset is considered to be impaired, the impairment to be recognized is measured as the difference between the carrying amount of the assets and the fair value of the impaired asset. During 2015, 2014 and 2013, no impairment losses were identified. l. Severance pay: DSP Group Ltd., the Company’s Israeli subsidiary (“DSP Israel”), has a liability for severance pay pursuant to Israeli law, based on the most recent monthly salary of its employees multiplied by the number of years of employment as of the balance sheet date for such employees. DSP Israel’s liability is fully provided for by monthly accrual and deposits with severance pay funds and insurance policies. The deposited funds include profits accumulated up to the balance sheet date. The deposited funds may be withdrawn only upon the fulfillment of the obligation pursuant to Israel’s Severance Pay Law or labor agreements. Severance expenses for the years ended December 31, 2015, 2014 and 2013, were $1,498, $1,568 and $1,494, respectively. m. Revenue recognition: The Company generates its revenues from sales of products. The Company sells its products through a direct sales force and through a network of distributors. Product sales are recognized when persuasive evidence of an agreement exists, delivery of the product has occurred, the fee is fixed or determinable, collectability is reasonably assured, and no significant obligations remain. Persuasive evidence of an arrangement exists - Delivery has occurred Separately, the Company has consignment inventory which is held for specific customers at the customers’ premises. It recognizes revenue on the consigned inventory when the customer consumes the products from the warehouse, as that is when per the consignment inventory agreements, risk and title passes to the customer and the products are deemed delivered to the customer. Price is fixed or determinable Collectability of the related receivable is reasonably assured With respect to product sales through the Company’s distributors, such product revenues are deferred until the distributors resell the Company’s products to the end-customers (“sell through”) and recognized based upon receipt of reports from the distributors, provided all other revenue recognition criteria as discussed above are met. The Company views its distributor arrangements as that of consignment because, although the actual sales are conducted through the distributors and legally title for the products passes to the distributors upon delivery to the distributors, in substance inventory is simply being transferred to another location for sale to the end-user customers as the Company’s primary business relationships and responsibilities are directly with the end-user customers. Because the Company views its arrangements with its distributors as that of consignment relationships, delivery of goods is not deemed to have occurred solely upon delivery to the distributors. Therefore, the Company recognizes revenues from distributors under the “sell-through” method. As a result, revenue is deferred at the time of shipment to the distributors and is recognized only when the distributors sell the products to the end-user customers. n. Warranty: The Company warrants its products against errors, defects and bugs for generally one year. The Company estimates the costs that may be incurred under its warranty and records a liability in the amount of such costs. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. Warranty costs and liability were immaterial for the years ended December 31, 2015, 2014 and 2013. o. Research and development costs, net: Research and development costs, net of grants received, are charged to the consolidated statement of operations as incurred. p. Government grants: Government grants received by the Company’s Israeli subsidiary relating to categories of operating expenditures are credited to the consolidated statements of income during the period in which the expenditure to which they relate is charged. Royalty and non-royalty-bearing grants from the Israeli Office of the Chief Scientist (“OCS”) for funding certain approved research and development projects are recognized at the time when the Company’s Israeli subsidiary is entitled to such grants, on the basis of the related costs incurred, and are included as a deduction from research and development expenses, net. The Company recorded royalty bearing grants in the amount of $2,738, $3,002 and $2,116 for the year ended December 31, 2015 and 2014 and 2013, respectively. The Company’s Israeli subsidiary is obligated to pay royalties amounting to 5% of the sales of certain products the development of which received grants from the OCS in previous years. The obligation to pay these royalties is contingent on actual sales of such products. Grants received from the OCS may become repayable if certain criteria under the grants are not met. The Israeli Research and Development Law provides that know-how developed under an approved research and development program may not be transferred to third parties without the approval of the OCS. Such approval is not required for the sale or export of any products resulting from such research or development. The OCS, under special circumstances, may approve the transfer of OCS-funded know-how outside Israel, in the following cases: (a) the grant recipient pays to the OCS a portion of the sale price paid in consideration for such OCS-funded know-how or in consideration for the sale of the grant recipient itself, as the case may be, which portion will not exceed six times the amount of the grants received plus interest (or three times the amount of the grant received plus interest, in the event that the recipient of the know-how has committed to retain the R&D activities of the grant recipient in Israel after the transfer); (b) the grant recipient receives know-how from a third party in exchange for its OCS-funded know-how; (c) such transfer of OCS-funded know-how arises in connection with certain types of cooperation in research and development activities; or (d) if such transfer of know-how arises in connection with a liquidation by reason of insolvency or receivership of the grant recipient. q. Equity-based compensation: At December 31, 2015, the Company had two equity incentive plans from which the Company may grant future equity awards and three expired equity incentive plans from which no future equity awards may be granted but had outstanding equity awards granted prior to expiration. The Company also had one employee stock purchase plan. See full description in Note 13. The Company accounts for equity-based compensation in accordance with FASB ASC No. 718, “Stock Compensation” (“FASB ASC No. 718”). FASB ASC No. 718 requires companies to estimate the fair value of equity-based awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s consolidated statements of operations. The Company recognizes compensation expenses for the value of its awards granted based on the accelerated attribution method, rather than a straight-line method over the requisite service period of each of the awards, net of estimated forfeitures. FASB ASC No. 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Estimated forfeitures are based on actual historical pre-vesting forfeitures. The Company selected the lattice option pricing model as the most appropriate fair value method for its equity-based awards and values options and stock appreciation rights (SARs) based on the market value of the underlying shares on the date of grant. The option-pricing model requires a number of assumptions, of which the most significant are the expected stock price volatility and the expected term of the equity-based award. Expected volatility is calculated based upon actual historical stock price movements. The expected term of the equity-based award granted is based upon historical experience and represents the period of time that the award granted is expected to be outstanding. The risk-free interest rate is based on the yield from U.S. treasury bonds with an equivalent term. The Company has historically not paid dividends and has no foreseeable plans to pay dividends. The Company granted stock appreciation rights (SARs) until 2012. Starting in 2013, a majority of the Company’s equity awards were in the form of restricted stock unit (“RSU”) grants . r. Basic and diluted income (loss) per share: Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during the year. Diluted net income (loss) per share further includes the dilutive effect of stock options, SARs and RSUs outstanding during the year, all in accordance with FASB ASC No. 260, “Earnings Per Share.” The total weighted average number of shares related to the outstanding stock options, SARs and RSUs excluded from the calculation of diluted net income per share due to their anti-dilutive effect was 403,632, 1,811,687and 2,730,867 for the years ended December 31, 2015, 2014 and 2013, respectively. s. Income taxes: The Company accounts for income taxes in accordance with FASB ASC No. 740, “Income Taxes.” This topic prescribes the use of the liability method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. Deferred tax liabilities and assets are classified as non-current based on the adopting of Accounting Standards Update (“ASU”) 2015-17, “Balance Sheet Classification of Deferred Taxes.” Prior to the adoption of ASU 2015-17, U.S. GAAP required an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. ASU 2015-17 was issued to simplify the presentation of deferred income taxes. Deferred tax liabilities and assets are now classified as noncurrent in a classified statement of financial position for all period presented. The Company accounts for uncertain tax positions in accordance with ASC 740, which contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining whether the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The Company reevaluates its income tax positions periodically to consider factors such as changes in facts or circumstances, changes in or interpretations of tax law, effectively settled issues under audit, and new audit activity. Such a change in recognition or measurement would result in recognition of a tax benefit or an additional charge to the tax provision. The Company includes interest related to tax issues as part of income tax expense in its consolidated financial statements. The Company records any applicable penalties related to tax issues within the income tax provision. t. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, restricted deposits, short-term deposits, trade receivables and marketable securities. The majority of cash and cash equivalents and short-term deposits of the Company are invested in dollar deposits with major U.S., European and Israeli banks. Deposits in U.S. banks may be in excess of insured limits and are not insured in other jurisdictions. Generally, cash and cash equivalents and these deposits may be withdrawn upon demand and therefore bear low risk. The Company’s marketable securities consist of investment-grade corporate bonds and U.S. government-sponsored enterprise (“GSE”) securities. As of December 31, 2015, the amortized cost of the Company’s marketable securities was $102,717, and their stated market value was $102,216, representing an unrealized loss of $501. A significant portion of the products of the Company is sold to original equipment manufacturers of consumer electronics products. The customers of the Company are located primarily in Japan, Hong Kong, Taiwan, China, Korea, Europe and the United States. The Company performs ongoing credit evaluations of their customers. A specific allowance for doubtful accounts is determined, based on management’s estimates and historical experience. Under certain circumstances, the Company may require a letter of credit. The Company covers most of its trade receivables through credit insurance. As of December 31, 2015 and 2014, no allowance for doubtful accounts was provided. The Company has no off-balance-sheet concentration of credit risk, except for certain derivative instruments as mentioned below. u. Derivative instruments: The Company accounts for derivatives and hedging based on FASB ASC No. 815,”Derivatives and Hedging”. ASC No. 815 requires companies to recognize all of their derivative instruments as either assets or liabilities on the balance sheet at fair value. For derivative instruments that are designated and qualify as a cash flows hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Any gain or loss on a derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item is recognized in current earnings during the period of change. To protect against the increase in value of forecasted foreign currency cash flows resulting from salary and rent payments in New Israeli Shekel (“NIS”) during the year, the Company instituted a foreign currency cash flow hedging program. The Company hedges portions of the anticipated payroll and rent of its Israeli facilities denominated in NIS for a period of one to 12 months with put and call options and forward contracts. These forward contracts and put and call options are designated as cash flow hedges and are all effective as hedges of these expenses. The fair value of the outstanding derivative instruments at December 31, 2015 and 2014 is summarized below: Fair value of Derivative assets As of December 31, (liabilities) Balance sheet location 2015 2014 Foreign exchange forward contracts and put and call options Accrued expenses and other accounts payable $ (36 ) $ (618 ) Total $ (36 ) $ (618 ) The effect of derivative instruments in cash flow hedging transactions on income and other comprehensive income (“OCI”) for the years ended December 31, 2015, 2014 and 2013 is summarized below: Gains (losses) on derivatives Year ended December 31, 2015 2014 2013 Foreign exchange forward contracts and put and call options $ (38 ) $ (1,180 ) $ 372 Gains (losses) on derivatives reclassified Year ended December 31, Location 2015 2014 2013 Foreign exchange forward contracts and put and call options Operating expenses $ (621 ) $ (562 ) $ 856 As of December 31, 2015, the Company had outstanding option contracts and forward contracts in the amount of $12,850 and $1,800, respectively. As of December 31, 2014, the Company had outstanding option contracts in the amount of $16,575. v. Comprehensive income: The Company accounts for comprehensive income in accordance with FASB ASC No. 220, “Comprehensive Income.” Comprehensive income generally represents all changes in stockholders’ equity during the period except those resulting from investments by, or distributions to, stockholders. The Company determined that its items of other comprehensive income relate to gains and losses on hedging derivative instruments, unrealized gains and losses on available-for-sale securities, unrealized gains and losses from pension and unrealized gain and losses from foreign currency translation adjustments. The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for 2015: Unrealized gains (losses) on available- for-sale marketable securities Unrealized gains (losses) on Cash Flow Hedges Unrealized gains (losses) on components of defined benefit plans Unrealized gains (losses) on fo reign currency translation Total January 1, 2015 $ (295 ) $ (618 ) $ (435 ) $ (218 ) $ (1,566 ) Other comprehensive income (loss) before reclassifications (230 ) (38 ) 63 (161 ) (366 ) Amounts reclassified from accumulated other comprehensive income (loss) 24 621 20 - 665 Net current period other comprehensive income (loss) (206 ) 583 83 (161 ) 299 December 31, 2015 $ (501 ) $ (35 ) $ (352 ) $ (379 ) $ (1,267 ) The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for 2015: Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement of Income (In millions) Losses on available-for-sale marketable securities $ 24 Financial income, net - Provision for income taxes 24 Total, net of income taxes Losses on cash flow hedges 487 Research and development 48 Sales and marketing 86 General and administrative 621 Total, before income taxes - Provision for income taxes 621 Total, net of income taxes Losses on components of defined benefit plans 12 Research and development 8 Sales and marketing 20 Total, before income taxes - Provision for income taxes 20 Total, net of income taxes Total reclassifications for the period 665 Total, net of income taxes w. Treasury stock at cost The Company repurchases its common stock from time to time on the open market or in other transactions and holds such shares as treasury stock. The Company presents the cost to repurchase treasury stock as a reduction of stockholders’ equity. From time to time, the Company reissues treasury stock under its employee stock purchase plan and equity incentive plans, upon purchases or exercises of equity awards under the plans. When treasury stock is reissued, the Company accounts for the re-issuance in accordance with ASC No. 505-30, “Treasury Stock” and charges the excess of the purchase cost over the re-issuance price (loss) to retained earnings. The purchase cost is calculated based on the specific identification method. In case the purchase cost is lower than the re-issuance price, the Company credits the difference to additional paid-in capital. x. Investment in other company: Investment in other company is stated at cost. The Company followed ASC 323, “Investments - Equity and Joint Ventures,” to determine whether it should apply the equity method of accounting to a certain investment in preferred shares, and determined that the preferred shares were not in substance common stock. The Company’s investment in other company is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such investment may not be recoverable, in accordance with ASC 325-20. As of December 31, 2014, no impairment loss was indicated. As of December 31, 2015, an impairment in the amount of $400 was recognized in the Company’s consolidated financial statements as a result of the expiration of a purchase option related to such investment. (See also Note 9). y. Recently Issued Accounting Guidance: In May 2014, FASB issued ASU 2014-09, "Revenue from Contracts with Customers." ASU 2014-09 modifies revenue recognition guidance for U.S. GAAP. Previous revenue recognition guidance in U.S. GAAP comprised broad revenue recognition concepts together with numerous revenue requirements for particular industries or transactions, which sometimes resulted in different accounting fo |
Note 3 - Marketable Securities
Note 3 - Marketable Securities and Time Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3: MARKETABLE SECURITIES AND TIME DEPOSITS The following is a summary of marketable securities and time deposits at December 31, 2015 and 2014 (see also Note 8): Amortized cost Unrealized gains (losses), net Fair value 2015 2014 2015 2014 2015 2014 Short term deposit $ 5,568 $ 2,599 $ - $ - $ 5,568 $ 2,599 U.S. GSE securities 23,645 21,085 (114 ) (34 ) 23,531 21,051 Corporate obligations 79,072 80,389 (387 ) (262 ) 78,685 80,127 $ 108,285 $ 104,073 $ (501 ) $ (296 ) $ 107,784 $ 103,777 The amortized costs of marketable debt securities at December 31, 2015, by contractual maturities or anticipated dates of sale, are shown below : Amortized Unrealized gains (losses) Fair cost Gains Losses value Due in one year or less $ 12,500 $ 8 $ (7 ) $ 12,501 Due after one year to five years 90,217 25 (527 ) 89,715 $ 102,717 $ 33 $ (534 ) $ 102,216 The amortized cost of marketable debt securities at December 31, 2014, by contractual maturities or anticipated dates of sale, are shown below : Amortized Unrealized gains (losses) Fair cost Gains Losses value Due in one year or less $ 8,910 $ 4 $ (5 ) $ 8,909 Due after one year to six years 92,564 110 (405 ) 92,269 $ 101,474 $ 114 $ (410 ) $ 101,178 The actual maturity dates may differ from the contractual maturities because debtors may have the right to call or prepay obligations without penalties. The total fair value of marketable securities with outstanding unrealized losses as of December 31, 2015 amounted to $84,095, while the unrealized losses for these marketable securities amounted to $534. Of the $534 unrealized losses outstanding as of December 31, 2015, a portion of which in the amount of $70 was related to marketable securities that were in a loss position for more than 12 months and the remaining portion of $464 was related to marketable securities that were in a loss position for less than 12 months. The total fair value of marketable securities with outstanding unrealized losses as of December 31, 2014 amounted to $68,945, while the unrealized losses for these marketable securities amounted to $410. Of the $410 unrealized losses outstanding as of December 31, 2014, a portion of which in the amount of $113 was related to marketable securities that were in a loss position for more than 12 months and the remaining portion of $297 was related to marketable securities that were in a loss position for less than 12 months. Management believes that as of December 31, 2015, the unrealized losses in the Company’s investments in all types of marketable securities were temporary and no impairment loss was realized in the Company’s consolidated statements of operations. The unrealized losses related to the Company’s marketable securities were primarily due to changes in interest rates. Because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at December 31, 2015. Proceeds from maturity of available-for-sale marketable securities during 2015, 2014 and 2013 were $20,127, $23,250 and $18,325, respectively. Proceeds from sales of available-for-sale marketable securities during 2015, 2014 and 2013 were $13,238, $46,491 and $42,949, respectively. Realized gains from the sale of available-for sale marketable securities for 2015, 2014 and 2013 were $3, $73 and $1,013, respectively. Realized losses from the sale of available-for sale marketable securities for 2015, 2014 and 2013 were $27, $12 and $4, respectively. The Company determines realized gains or losses on the sale of available-for-sale marketable securities based on a specific identification method. |
Note 4 - Other Accounts Receiva
Note 4 - Other Accounts Receivable and Prepaid Expenses | 12 Months Ended |
Dec. 31, 2015 | |
Other Accounts Receivable And Prepaid Expenses Disclosure [Abstract] | |
Other Accounts Receivable And Prepaid Expenses Disclosure [Text Block] | NOTE 4:- OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES December 31, 2015 2014 Prepaid expenses $ 2,054 $ 1,010 Tax and governmental receivables 956 649 Deposits 260 208 Others 49 35 $ 3,319 $ 1,902 |
Note 5 - Inventories
Note 5 - Inventories | 12 Months Ended |
Dec. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | NOTE 5:- INVENTORIES Inventories are composed of the following: December 31, 2015 2014 Work-in-progress $ 6,384 $ 6,795 Finished products 5,069 8,840 $ 11,453 $ 15,635 Inventory write-downs amounted to $361 for the year ended December 31, 2015. For the years ended December 31, 2014 and 2013, the Company recorded $6 and $261, respectively, of income due to the utilization of inventory that was previously written off. |
Note 6 - Property and Equipment
Note 6 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6:- PROPERTY AND EQUIPMENT, NET Composition of assets, grouped by major classifications, is as follows: December 31, 2015 2014 Cost: Computers and equipment $ 19,735 $ 17,793 Office furniture and equipment 1,469 1,446 Leasehold improvements 4,728 4,559 25,932 23,798 Less - accumulated depreciation 22,168 20,955 Depreciated cost $ 3,764 $ 2,843 During 2014, the Company disposed fully depreciated equipment, which ceased to be used, in the amount of $24,247. No capital loss was recorded due to this disposal of equipment in the consolidated statement of operations. Depreciation expenses, which also include amortization expenses of assets recorded under capital leases, amounted to $1,356, $1,290 and $1,994 for the years ended December 31, 2015, 2014 and 2013, respectively. |
Note 7 - Intangible Assets, Net
Note 7 - Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Intangible Assets Disclosure [Text Block] | NOTE 7:- INTANGIBLE ASSETS, NET The following table shows the Company’s intangible assets for the periods presented: Useful life December 31, (years) 2015 2014 Cost: Current technology 4.2 - 5.3 $ 77,080 $ 77,080 Customer relations 7.3 23,477 23,477 Technology (completion of the development of in-process R&D) 6 7,702 7,702 Non-competition agreement 3 519 519 108,778 108,778 Accumulated amortization: Current technology 48,263 48,263 Customer relations 13,407 13,407 Technology (completion of the development of in-process R&D) 3,851 2,567 Non-competition agreement 519 519 66,040 64,756 Impairment: (Note 7b) Current technology 28,817 28,817 Customer relations 10,070 10,070 38,887 38,887 Amortized cost $ 3,851 $ 5,135 a. Amortization expenses amounted to $1,284, $1,573 and $1,672 for the years ended December 31, 2015, 2014 and 2013, respectively. b. Estimated amortization expenses for the years ending: Year ending December 31, 2016 $ 1,284 2017 1,284 2018 1,283 $ 3,851 |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | NOTE 8:- F AIR VALUE MEASUREMENTS In accordance with ASC 820, the Company measures its cash equivalents, marketable securities and foreign currency derivative contracts at fair value. Cash equivalents, marketable securities and foreign currency derivative contracts are classified within Level 1 or Level 2 value hierarchies. This is because cash equivalents, and marketable securities are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Foreign currency derivative contracts are classified within Level 2 value hierarchy as the valuation inputs are based on quoted prices and market observable data of similar instruments. The following table provides information by value level for financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2015 (see also Note 3): Balance as of Fair value measurements Description December 31, 2015 Level 1 Level 2 Level 3 Assets Cash equivalents Money market mutual funds $ 1,089 $ 1,089 - - Short-term marketable securities and time deposits U.S. GSE securities - - Corporate debt securities $ 12,501 - $ 12,501 - Long-term marketable securities U.S. GSE securities $ 23,531 - $ 23,531 - Corporate debt securities $ 66,184 - $ 66,184 - Derivative liabilities $ (36 ) - $ (36 ) - The following table provides information by value level for financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2014: Balance as of Fair value measurements Description December 31, 2014 Level 1 Level 2 Level 3 Assets Cash equivalents Money market mutual funds $ 2,746 $ 2,746 - Short-term marketable securities and time deposits U.S. GSE securities $ 1,499 - $ 1,499 - Corporate debt securities $ 7,410 - $ 7,410 - Long-term marketable securities U.S. GSE securities $ 19,552 - $ 19,552 - Corporate debt securities $ 72,717 - $ 72,717 Derivative liabilities $ (618 ) - $ (618 ) - In addition to the assets and liabilities described above, the Company’s financial instruments also include cash and cash equivalents, restricted deposits, short term deposits, trade receivables, other accounts receivable, trade payables, accrued expenses and other payables. The fair value of these financial instruments was not materially different from their carrying value at December 31, 2015 and 2014 due to the short-term maturity of these instruments. |
Note 9 - Investment in Other Co
Note 9 - Investment in Other Company | 12 Months Ended |
Dec. 31, 2015 | |
Investments, All Other Investments [Abstract] | |
Cost-method Investments, Description [Text Block] | NOTE 9:- INVESTMENT IN OTHER COMPANY On October 24, 2013, the Company made an investment of $2,200 in a private company in Asia. The investment was in return for approximately 14% of the equity of the company, on a fully diluted basis. The Company also signed an agreement pursuant to which it had the option to purchase all of the remaining outstanding securities of the private company by no later than December 31, 2014. The terms and conditions of the investment were modified on November 2014, including an extension of the option to purchase the remaining outstanding securities until December 31, 2015. The investment is accounted under the cost-method in accordance with ASC 325-20. The Company did not exercise the purchase option by December 31, 2015 and as a result, recorded a write-off in the amount of $400. |
Note 10 - Accrued Expenses and
Note 10 - Accrued Expenses and Other Accounts Payable | 12 Months Ended |
Dec. 31, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 10:- ACCRUED EXPENSES AND OTHER ACCOUNTS PAYABLE December 31, 2015 2014 Accrued expenses $ 2,729 $ 3,279 Derivative instruments 36 618 Legal, accounting and investors relation accrual 615 543 Royalties and commission 488 538 Governmental payables 212 104 Others 738 770 $ 4,818 $ 5,852 |
Note 11 - Accrued Pension Liabi
Note 11 - Accrued Pension Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 11:- ACCRUED PENSION LIABILITIES As of December 31, 2015 and 2014 , the defined benefits plans that the Company assumed in connection with the CIPT Acquisition that are accounted for in the Company’s consolidated financial statements are the pension plans in Germany and India. Consistent with the requirements of local law, the Company deposits funds for certain plans with insurance companies, third-party trustees, or into government-managed accounts, and/or accrues for the unfunded portion of the obligation. The Company’s pension obligation in Germany relating to the unvested pension claims (i.e. future obligation that will result from future service period) of the employees were outsourced in November 2010 to an external insurance company (“Nuremberger Versicherung”). From and after the outsourcing date, the Company is required to pay premiums to the external insurance company and in return the pension benefits earned by the German employees are covered by the Company’s arrangement with the external insurance company. The Company legally is released from its obligations to the German employees once the premiums are paid, and it is no longer subject to any of the risks and rewards associated with the benefit obligations covered and the plan assets transferred to the external insurance company. Since the outsourcing arrangement meets the requirements of a nonparticipating annuity contract, the Company treats the costs of the outsourcing arrangement as the costs of the benefits being earned in accordance with ASC Paragraph 715-30-25-7 of ASC 715 “Compensation—Retirement Benefits.” The following tables provide a reconciliation of the changes in the pension plans’ benefit obligation and fair value of assets for the years ended December 31, 2015 and 2014 , and the statement of funded status as of December 31, 2015 and 2014 : December 31, 201 5 2014 Accumulated benefit obligation $ 937 $ 1,194 Change in benefit obligation Benefit obligation at beginning of year $ 1,205 $ 1,239 Service cost 5 5 Interest cost 17 29 Benefits paid from the plan (96 ) (152 ) Actuarial loss (62 ) 218 Exchange rates and others (123 ) (134 ) Benefit obligation at end of year $ 946 $ 1,205 Change in plan assets Fair value of plan assets at beginning of year 116 258 Actual return on plan assets 5 6 Benefits paid from the plan (56 ) (127 ) Exchange rates (11 ) (21 ) Fair value of plan assets at end of year $ 54 $ 116 The assumptions used in the measurement of the Company’s pension expense and benefit obligations as of December 31, 2015 , 2014 and 2013 are as follows: Year ended December 31, 201 5 201 4 201 3 Weighted-average assumptions Discount rate 2.5 % 2.1 % 3.5 % Expected return on plan assets 4.28 % 2.86 % 2.88 % Rate of compensation increase 2.5 % 2.5 % 2.5 % The amounts reported for net periodic pension costs and the respective benefit obligation amounts are dependent upon the actuarial assumptions used. The Company reviews historical trends, future expectations, current market conditions, and external data to determine the assumptions. The discount rate is determined considering the yield of government bonds. The rate of compensation increase is determined by the Company, based on its long-term plans for such increases. The following table provides the components of net periodic benefit cost for the years ended December 31, 2015 , 2014 and 2013 : December 31, 201 2014 2013 Components of net periodic benefit cost Service cost $ 5 $ 5 $ 5 Interest cost 17 29 35 Expected return on plan assets (5 ) (6 ) (6 ) Amortization of net loss 20 11 11 Net periodic benefit cost $ 37 $ 39 $ 45 December 31, 201 5 201 4 Net amounts recognized in the consolidated balance sheets as of December 31, 2015 and 2014 consist of: Current liabilities $ - $ - Noncurrent liabilities 892 1,089 Net amounts recognized in the consolidated balance sheets $ 892 $ 1,089 Net amounts recognized in accumulated other comprehensive income as of December 31, 2015 and 2014 consist of: Net actuarial loss $ (351 ) $ (435 ) Net amounts recognized in accumulated other comprehensive loss $ (351 ) $ (435 ) The estimated amount that will be amortized from accumulated other comprehensive income (loss) into net periodic benefit cost in 2016 is as follows: 2016 Net actuarial loss and other $ 14 Benefit payments are expected to be paid as follows: Year ending December 31, 2016 $ 55 2017 $ 21 2018 $ 8 2019 $ 8 2020 $ 9 2021-2025 $ 104 The plan asset allocations at December 31 of the relevant years are as follows: December 31, 201 5 201 4 Bonds - - Real estate - - Cash - - Shares - - Other 100 % 100 % 100 % 100 % The fair value of the Company’s pension plan assets at December 31, 2015 by asset category, classified by the three levels of inputs described in Note 2, are as follows: Fair value measurements at December 31, 201 5 using: Total fair value at December 31, 2015 Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs Cash $ - $ - $ - $ - Equity securities - - - - Real estate - - - - Corporate bonds - - - - Others 54 - 54 - Total assets measured at fair value $ 54 $ - $ 54 $ - Valuation techniques - Regarding the policy for amortizing actuarial gains or losses for pension and post-employment plans, the Company has chosen the “corridor” option. This option consists of recognizing in the consolidated statements of operations, the part of unrecognized actuarial gains or losses exceeding 10% of the greater of the PBO or the market value of the plan assets. If amortization is required, the minimum amortization amount is that excess divided by the average remaining service period of the active employees expected to receive benefits under the plan. |
Note 12 - Financial Income, Net
Note 12 - Financial Income, Net | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Other Nonoperating Income and Expense [Text Block] | NOTE 12:- FINANCIAL INCOME, NET The components of financial income, net were as follows: Year ended December 31, 2015 2014 2013 Foreign exchange gains $ 19 $ 27 $ - Interest income from marketable securities and deposits, net of amortization of premium on marketable securities 1,391 1,391 1,656 Realized gains on marketable securities 3 73 1,013 Other - - 13 Financial income 1,413 1,491 2,682 Realized losses on marketable securities 27 12 4 Foreign exchange losses 58 113 86 Interest expenses 12 24 29 Other 141 138 106 Financial expense 238 287 225 Financial income, net $ 1,175 $ 1,204 $ 2,457 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
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. |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 14:- COMMITMENTS AND CONTINGENCIES Commitments a. The Company and its subsidiaries lease certain equipment and facilities under non-cancelable operating leases. The Company has significant leased facilities in Herzliya Pituach, Israel. The lease agreement for the Israeli facilities is effective until November 2018. The Company leases its facilities in the U.S. under a contract which terminates in 2018. The Company’s subsidiaries in Scotland, Japan, Germany, China and Hong-Kong have lease agreements for their facilities that terminate in 2019, 2016, 2016, 2016 and 2016, respectively. The Company’s subsidiary in India has a lease agreement which terminates in 2020. The Company has operating lease agreements for its motor vehicles which terminate in 2016 through 2018. At December 31, 2015, the Company is required to make the following minimum lease payments under non-cancelable operating leases for motor vehicles and facilities: Year ended December 31, 2016 $ 2,684 2017 1,835 2018 1,614 2019 and thereafter 145 $ 6,278 Facilities rental expenses amounted to $2,252, $2,298 and $2,389 for the years ended December 31, 2015, 2014 and 2013, respectively. b. The Company participated in programs (most of which are royalty bearing grants) sponsored by the Israeli government for the support of research and development activities. Through December 31, 2015, the Company had obtained grants from the Israeli Office of the Chief Scientist (the “OCS”) for certain of the Company’s research and development projects. The Company is obligated to pay royalties to the OCS, amounting to 5% of the sales of the products and other related revenues (based on the dollar) generated from such projects, up to 100% of the grants received. The royalty payment obligations also bear interest at the LIBOR rate. The obligation to pay these royalties is contingent on actual sales of the applicable products and in the absence of such sales, no payment is required. As of December 31, 2015, the aggregate contingent liability to the OCS amounted to $7,880. The Israeli Research and Development Law provides that know-how developed under an approved research and development program may not be transferred to third parties without the approval of the OCS. Such approval is not required for the sale or export of any products resulting from such research or development. The OCS, under special circumstances, may approve the transfer of OCS-funded know-how outside Israel, in the following cases: (a) the grant recipient pays to the OCS a portion of the sale price paid in consideration for such OCS-funded know-how or in consideration for the sale of the grant recipient itself, as the case may be, which portion will not exceed six times the amount of the grants received plus interest (or three times the amount of the grant received plus interest, in the event that the recipient of the know-how has committed to retain the R&D activities of the grant recipient in Israel after the transfer); (b) the grant recipient receives know-how from a third party in exchange for its OCS-funded know-how; (c) such transfer of OCS-funded know-how arises in connection with certain types of cooperation in research and development activities; or (d) if such transfer of know-how arises in connection with a liquidation by reason of insolvency or receivership of the grant recipient. Litigation a. The Company is involved in certain claims arising in the normal course of business. However, the Company believes that the ultimate resolution of these matters will not have a material adverse effect on its financial position, results of operations, or cash flows. b. From time to time, the Company may become involved in litigation relating to claims arising in the ordinary course of business activities. Also, as is typical in the semiconductor industry, the Company has been and, from time to time may be, notified of claims that it may be infringing on patents or intellectual property rights owned by third parties. |
Note 15 - Taxes On Income
Note 15 - Taxes On Income | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 15:- TAXES ON INCOME a. The provision for income taxes is as follows: Year ended December 31, 2015 2014 2013 Domestic taxes Federal taxes: Current $ - $ - $ (271 ) State taxes: Current 2 2 (9 ) Foreign taxes: Current (1) 1,081 (1,672 ) 507 Deferred (2) (756 ) (1,170 ) (377 ) Domestic taxes 325 (2,842 ) 130 Tax expenses (income) tax benefit $ 327 $ (2,840 ) $ (150 ) (1) Includes for 2014 (i) income in the amount of $858 due to reversal of income tax contingency reserves that were determined to be no longer needed due to finalization of a tax assessment of one of the Company’s subsidiaries and (ii) income in the amount of $1,234 due to removal of valuation allowance of tax advances. (2) Includes for 2014 income tax benefit in the amount of $827 due to elimination of valuation allowance of deferred tax assets. There were no tax benefits associated with the exercise of non-qualified stock options in 2015, 2014 and 2013. b. Income (loss) before taxes is comprised as follows: Year ended December 31, 2015 2014 2013 Domestic $ (909 ) $ (3,497 ) $ (3,525 ) Foreign 2,798 4,258 6,051 $ 1,889 $ 761 $ 2,526 c. A reconciliation between the Company’s effective tax rate assuming all income is taxed at statutory tax rate applicable to the income of the Company and the U.S. statutory rate is as follows: Year ended December 31, 2015 2014 2013 Income (loss) before taxes on income $ 1,889 $ 761 $ 2,526 Theoretical tax at U.S. statutory tax rate (35%) $ 661 $ 266 $ 884 State taxes, net of federal benefit 2 2 2 Foreign income taxed at rates other than the U.S. rate (including deferred taxes that were not provided, valuation allowance and current adjustment and interest on uncertain tax position liability) (2,209 ) (5,974 ) (3,015 ) Nondeductible equity-based compensation expenses 1,782 1,876 1,456 Current adjustment and interest on uncertain tax position liability in U.S. - - (283 ) Valuation allowance in U.S. 91 989 804 Other - 1 2 $ 327 $ (2,840 ) $ (150 ) d. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. December 31, 2015 2014 Deferred tax assets (short-term): Reserves and accruals $ - $ 149 Carryforward tax losses $ - $ 626 Total deferred tax assets (short-term) - 775 Valuation allowance - - Total - 775 Deferred tax assets (long-term): Reserves and accruals 1,823 1,669 Equity-based compensation 462 2,761 Intangible assets 805 1,198 Carryforward tax losses 5,798 (1) 27,621 Other - 15 Total deferred tax assets (long-term) 8,888 33,264 Valuation allowance (7,577 ) (33,115 ) Total 1,311 149 Total deferred tax assets $ 1,311 $ 924 Deferred tax liabilities, net (Long term): Acquired intangible assets 963 1,360 Acquired carryforward tax losses (487 ) (515 ) Total deferred tax liabilities, net $ 476 $ 845 (1) The amount in 2015 is after a deduction of $207,405 carryforward tax losses of a foreign subsidiary that expired by December 31, 2015. Management believes that part of the deferred tax assets will not be realized based on current levels of future taxable income and potentially refundable taxes. Accordingly, a valuation allowance in the amount of $7,577 and $33,115 was recognized as of December 31, 2015 and 2014, respectively. As of December 31, 2015, the Company had cash and cash equivalents, marketable securities and time deposits of approximately $121.7 million. Out of total cash, cash equivalents and marketable securities of $121.7 million, $107.8 million was held by foreign subsidiaries of the Company. The Company intends to permanently reinvest earnings of its foreign operations and its current operating plans do not demonstrate a need to repatriate foreign earnings to fund the Company’s U.S. operations. However, if these funds were needed for the Company’s operations in the United States, the Company would be required to accrue and pay U.S. taxes as well as taxes in other countries to repatriate these funds. The determination of the amount of additional taxes related to the repatriation of these earnings is not practicable, as it may vary based on various factors such as the location of the cash and the effect of regulation in the various jurisdictions from which the cash would be repatriated. e. A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows: 2015 2014 Gross unrecognized tax benefits at January 1 $ 1,031 $ 1,892 Increases in tax positions for previous years 177 115 Increases in tax positions for current year 533 71 Change in interest and linkage related to tax positions (30 ) (85 ) Lapse in statute of limitations or finalization of tax assessment - (858 ) Gross unrecognized tax benefits at December 31 $ 1,711 $ 1,031 The total amount of net unrecognized tax benefits that, if recognized, would affect the effective tax rate was $1,711 and $1,031 at December 31, 2015 and 2014, respectively. The Company accrues interest and penalties relating to unrecognized tax benefits in its provision for income taxes. At December 31, 2015 and 2014, the Company had accrued interest and penalties related to unrecognized tax benefits of $180 and $135, respectively. The Company reversed income tax contingency reserves that were determined to be no longer required due to the expiration of applicable statute of limitations. Pursuant to this reversal, the Company recorded a tax benefit of $284 during 2013. During 2014, the Company recorded a tax benefit of $858 due to the finalization of a tax assessment. The Company and certain of its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The last examination conducted by U.S. tax authorities was with respect to the Company’s U.S. federal income tax returns for 2004. The statute of limitations relating to the Company’s consolidated Federal income tax return is closed for all tax years up to and including 2011. The last examination conducted by the Israeli tax authorities was with respect to the Company’s Israeli income tax returns for the years between 2006 and 2012. With respect to DSP Israel, the tax returns up to and including 2012 are considered to be final and not subject to any audits due to the expiration of the statute of limitations. With respect to the Company’s Swiss subsidiary, the statute of limitations related to its tax returns is opened for all tax years since its incorporation. A change in the amount of unrecognized tax benefit is reasonably possible in the next 12 months due to the examination by the German tax authorities of the Company’s German tax returns for 2007 – 2009. The Company currently cannot provide an estimate of the range of change in the amount of the unrecognized tax benefits due to the ongoing status of the examination. f. The Investment Law provides certain Israeli tax benefits for eligible capital investments in a production facility, as discussed in greater detail below. On April 1, 2005, an amendment to the Investment Law came into effect (the “Amendment”) and significantly changed the provisions of the Investment Law. Generally, DSP Israel’s investment programs that obtained approval for Approved Enterprise status prior to enactment of the Amendment will continue to be subject to the old provisions of the Investment Law. The Amendment enacted major changes in the manner in which tax benefits are awarded under the Investment Law so that companies are no longer required to get the Investment Center’s prior approval to qualify for tax benefits. An enterprise that receives tax benefits without the initial approval from the Investment Center is called a “Beneficiary Enterprise,” rather than the previous terminology of “Approved Enterprise” used under the Investment Law. The period of tax benefits for a new Beneficiary Enterprise commences in the “Year of Commencement,” which is the later of: (1) the year in which taxable income was first generated by the company, or (2) the year of election. In addition, under the Amendment, tax benefits are available for production facilities, which generally are required to derive more than 25% of their business income from export. Furthermore, in order to receive the tax benefits under the Amendment, a company is required to make an investment in the Benefited Enterprise exceeding a certain percentage or a minimum amount specified in the Investment Law. DSP Israel chose the “alternative benefits” track for all of its investment programs. Accordingly, DSP Israel’s income from an “Approved Enterprise” and “Beneficiary Enterprise” is tax-exempt for a period of two or four years and is subject to a reduced corporate tax rate of 10%-25% (based on the percentage of foreign ownership) for an additional period of six or eight years. DSP Israel’s first, second, third, fourth, fifth and sixth investment programs, which were completed and commenced operations in 1994, 1996, 1998, 1999, 2002 and 2004, respectively, were tax exempt for a period of between two and four years, from the first year they had taxable income and were entitled to a reduced corporate tax rate of 10%-25% (based on the percentage of foreign ownership) for an additional period of between six to eight years. As of 2015, all those investment programs were no longer entitled to a reduced corporate tax rate. DSP Israel’s seventh and eighth investment programs have been in operation since 2006 and 2009, respectively, and entitles DSP Israel to a corporate tax exemption for a period of two years and a reduced corporate tax rate of 10%-25% (based on the percentage of foreign ownership) for an additional period of eight years from the first year it had taxable income. Beginning in 2016, the seventh investment program was no longer entitled to a reduced corporate tax rate. Since DSP Israel is operating under more than one approval, its effective tax rate is the result of a weighted combination of the various applicable tax rates and tax exemptions and the computation is made for income derived from each investment program on the basis and formulas specified in the Investment Law and the approvals. During 2006, DSP Israel received an approval for the erosion of tax basis in respect to its fifth and sixth investment programs. During 2008, DSP Israel received an approval for the erosion of tax basis with respect to its second, third and fourth investment programs. Those approvals resulted in increasing the taxable income attributable to the later investment programs, which are currently in operation and will be taxed at a lower tax rate than the previous investment programs, which in turn will decrease the overall effective tax rate. The Company’s investment programs that generate taxable income are currently subject to an average tax rate of up to approximately 10% based on a variety of factors, including percentage of foreign ownership and approvals for the erosion of the tax basis of our investment programs. The Company’s average tax rate for its investment programs may change in the future due to circumstances outside of its control and therefore, the Company cannot provide any assurances that its average tax rate for its investment programs will continue at an approximate rate of 10% in the future. Amendment to the Law for the Encouragement of Capital Investments, 1959 (Amendment 68): In December 2010, the Israeli Parliament passed the Law for Economic Policy for 2011 and 2012 (Amended Legislation), 2011 (the “2011 Amendment”). The 2011 Amendment, which prescribes, among other things, amendments in the Law for the Encouragement of Capital Investments, 1959 (the “Law”). The 2011 Amendment became effective as of January 1, 2011. According to the 2011 Amendment, the benefit tracks in the Law were modified and a flat tax rate applies to the Company's entire preferred income under its status as a preferred company with a Preferred Enterprise (rather than the previous terminology of “Beneficiary Enterprise” under the Amendment). Commencing in 2011, the Company could elect (without possibility of reversal) to apply the 2011 Amendment in a certain tax year and from that year and thereafter, it would be subject to the amended tax rates. The tax rates under the 2011 Amendment were: 2011 and 2012 - 15% and in 2013 - 12.5%. As discussed in greater detail below, the Company evaluated the effect of the adoption of the 2011 Amendment and determined not to apply such amendment. Amendment to the Law for the Encouragement of Capital Investments, 1959 (Amendment 71): On August 5, 2013, the Israeli Parliament issued the Law for Changing National Priorities (Legislative Amendments for Achieving Budget Targets for 2013 and 2014), 2013 which consists of Amendment 71 to the Law for the Encouragement of Capital Investments (the “2013 Amendment”). According to the 2013 Amendment, the tax rate on preferred income from a Preferred Enterprise in 2014 and thereafter would be 16%. The 2013 Amendment also prescribes that any dividends distributed to individuals or foreign residents from the preferred enterprise's earnings would be subject to a tax rate of 20%. The Company evaluated the effect of the adoption of the 2011 Amendment and the 2013 Amendment on its financial statements, and determined to not apply for either amendment. Rather the Company has continued to comply with the Investment Law as it was in effect prior to enactment of the amendments until the earlier of such time that compliance with the Investment Law prior to enactment of the amendments is no longer in the Company’s best interests or until the expiration of its current investment programs. The Company may change its position in the future. The Company is required to comply with the 2011 Amendment and the 2013 Amendment subsequent to the expiration of the Company’s current investment programs and for any new qualified investment program after a transitional period. Once the Company is required to comply with the amendments, its average tax rate may increase. As of December 31, 2015, DSP Israel believed that it met all the conditions required under the plans, which include, among other things, an obligation to invest certain amounts in property and equipment and an obligation to finance a percentage of investments by share capital. Should DSP Israel fail to meet such conditions in the future, it could be subject to corporate tax in Israel at the standard tax rate (26.5% for 2015) plus a consumer price index linkage adjustment and interest and could be required to refund tax benefits already received. As of December 31, 2015, approximately $33,293 was derived from tax exempt profits earned by DSP Israel’s “Approved Enterprises” and “Beneficiary Enterprises.” The Company has determined that such tax-exempt income will not be distributed as dividends and intends to reinvest the amount of its tax exempt income earned by DSP Israel. Accordingly, no provision for deferred income taxes has been provided on income attributable to DSP Israel’s “Approved Enterprises” and “Beneficiary Enterprises” as such income is essentially permanently reinvested. If DSP Israel’s retained tax-exempt income is distributed, the income would be taxed at the applicable corporate tax rate (currently 10%) as if it had not elected the alternative tax benefits under the Investment Law and an income tax liability of approximately $3,699 would have been incurred as of December 31, 2015. DSP Israel’s income from sources other than the “Approved Enterprises” and “Beneficiary Enterprises” during the benefit period will be subject to tax at the effective standard corporate tax rate in Israel (26.5% for 2015). g. DSP Israel has the status of an “industrial company”, as defined by this law. According to this status and by virtue of regulations published thereunder, DSP Israel is entitled to claim a deduction of accelerated depreciation on equipment used in industrial activities, as determined in the regulations issued under the Inflationary Law. The Company is also entitled to amortize a patent or rights to use a patent or intellectual property that are used in the enterprise's development or advancement to deduct issuance expenses for shares listed for trading, and to file consolidated financial statements under certain conditions. h. The rate of the Israeli corporate tax is as follows: 2013 – 25%, and 2014 and 2015 – 26.5%. Tax rate of 25% applies to capital gains arising after January 1, 2003. On January 4, 2016, the Israeli Parliament's Plenum approved by a second and third reading, the Bill for Amending the Income Tax Ordinance (No. 217) (Reduction of Corporate Tax Rate), 2015, which includes a reduction of the corporate tax rate from 26.5% to 25% for 2016. j. |
Note 16 - Basic and Diluted Los
Note 16 - Basic and Diluted Loss Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | NOTE 16:- BASIC AND DILUTED LOSS PER SHARE The following table sets forth the computation of basic and diluted net loss per share: Year ended December 31, 2015 2014 2013 Numerator: Net income $ 1,562 $ 3,602 $ 2,676 Denominator: Weighted average number of shares of common stock outstanding during the year used to compute basic net earnings per share (in thousands) 21,924 21,968 22,249 Incremental shares attributable to exercise of outstanding options, SARs and RSUs (assuming proceeds would be used to purchase treasury stock) (in thousands) 1,416 986 657 Weighted average number of shares of common stock used to compute diluted net earnings per share (in thousands) 23,340 22,954 22,906 Basic net earnings per share $ 0.07 $ 0.16 $ 0.12 Diluted net earnings per share $ 0.07 $ 0.16 $ 0.12 |
Note 17 - Segment Information
Note 17 - Segment Information | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | NOTE 17:- SEGMENT INFORMATION Description of segments: The Company operates under three reportable segments. The Company’s segment information has been prepared in accordance with ASC 280, “Segment Reporting.” Operating segments are defined as components of an enterprise engaging in business activities about which separate financial information is available that is evaluated regularly by the Company’s chief operating decision-maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s CODM is its Chief Executive Officer, who evaluates the Company’s performance and allocates resources based on segment revenues and operating income. The Company’s operating segments are as follows: Home, Office and Mobile. The classification of the Company’s business segments is based on a number of factors that its management uses to evaluate, view and run its business operations, which include, but are not limited to, customer base, homogeneity of products and technology. A description of the types of products provided by each business segment is as follows: Home - Wireless chipset solutions for converged communication at home. Such solutions include integrated circuits targeted for cordless phones sold in retail or supplied by telecommunication service providers, home gateway devices supplied by telecommunication service providers which integrate the DECT/CAT-iq functionality, integrated circuits addressing home automation applications, as well as fixed-mobile convergence solutions. In this segment, (i) revenues from cordless telephony products exceeded 10% of the Company’s total consolidated revenues and amounted to 72%, 79% and 85% of the Company’s total revenues for 2015, 2014 and 2013, respectively, and (ii) revenues from home gateway products exceeded 10% of the Company’s total consolidated revenues and amounted to 10%, 8% and 6% of the Company’s total revenues for 2015, 2014 and 2013, respectively. Office - Comprehensive solution for Voice-over-IP (VoIP) office products, including office solutions that offer businesses of all sizes low-cost VoIP terminals with converged voice and data applications. Revenues from the Company’s VoIP products represented 15%, 10% and 6% of its total revenues for 2015, 2014 and 2013, respectively. No revenues derived from other products in the office segment exceeded 10% of the Company’s total consolidated revenues for the years 2015, 2014 and 2013. Mobile - Products for the mobile market that provides voice enhancement, always-on and far-end noise elimination targeted for mobile phone and mobile headsets and wearable devices that incorporate the Company’s noise suppression and voice quality enhancement HDClear technology. No revenues were derived from products in the mobile segment exceeded 10% of the Company’s total consolidated revenues for the years 2015, 2014 and 2013. Segment data: The Company derives the results of its business segments directly from its internal management reporting system and by using certain allocation methods. The accounting policies the Company uses to derive business segment results are substantially the same as those the Company uses for consolidation of its financial statements. The CODM measures the performance of each business segment based on several metrics, including earnings from operations. CODM uses these results, in part, to evaluate the performance of, and to assign resources to, each of the business segments. The Company does not allocate to its business segments certain operating expenses, which it manages separately at the corporate level. These unallocated costs include primarily amortization of purchased intangible assets, equity-based compensation expenses, proxy contest related expenses incurred during the second quarter of 2013 and certain corporate governance costs. The Company does not allocate any assets to segments and, therefore, no amount of assets is reported to management and disclosed in the financial information for segments. Selected operating results information for each business segment was as follows for the year ended December 31, 2015, 2014 and 2013: Year ended December 31 Revenues Income (loss) from operations 2015 2014 2013 2015 2014 2013 Home $ 121,714 $ 128,690 $ 142,144 $ 24,815 $ 23,438 $ 25,367 Office $ 22,216 $ 14,276 $ 8,849 $ (4,861 ) $ (2,805 ) $ (4,656 ) Mobile $ 341 $ 70 $ 70 $ (10,308 ) $ (11,983 ) $ (11,040 ) Total $ 144,271 $ 143,036 $ 151,063 $ 9,646 $ 8,650 $ 9,671 The reconciliation of segment operating results information to the Company’s consolidated financial information was as follows: Year ended December 31, 2015 2014 2013 Income from operations $ 9,646 $ 8,650 $ 9,671 Unallocated corporate, general and administrative expenses * (2,156 ) (2,161 ) (2,368 ) Proxy contest related expenses - - (1,403 ) Equity-based compensation expenses (5,092 ) (5,359 ) (4,159 ) Intangible assets amortization expenses (1,284 ) (1,573 ) (1,672 ) Write–off of expired option related to investment in other company (400 ) - - Financial income, net 1,175 1,204 2,457 Total consolidated income before taxes $ 1,889 $ 761 $ 2,526 *Includes mainly legal, accounting, board of directors and investors relation expenses. Major customers and geographic information The following is a summary of operations within geographic areas based on customer locations: Year ended December 31, 2015 2014 2013 Revenue distribution Hong-Kong $ 72,608 $ 79,622 $ 86,090 Japan 26,114 31,261 34,377 Europe 8,464 6,787 7,370 United States 3,944 4,702 4,342 China 10,359 6,568 6,999 Taiwan 16,902 9,077 7,093 Other 5,880 5,019 4,792 $ 144,271 $ 143,036 $ 151,063 For a summary of revenues from major customers, please see Note 1. Sales to these customers were primarily related to the Company’s Home reportable segment. The following is a summary of long-lived assets within geographic areas based on the assets’ locations: December 31, 2015 2014 Long-lived assets Europe $ 259 $ 188 Israel 2,989 2,264 Other 516 391 $ 3,764 $ 2,843 |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time that these estimates, judgments and assumptions are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Basis of Accounting, Policy [Policy Text Block] | Financial statements in U.S. dollars: Most of the Company’s revenues are generated in U.S. dollars (“dollar”). In addition, a substantial portion of the Company’s costs are incurred in dollars. The Company’s management believes that the dollar is the currency of the primary economic environment in which the Company operates. Thus, the functional and reporting currency of the Company is the dollar. Monetary accounts maintained in currencies other than the dollar are remeasured into dollars in accordance with ASC No. 830-30, “Translation of Financial Statements.” All transaction gains and losses resulting from the remeasurement of monetary balance sheet items are reflected in the consolidated statements of operations as financial income or expenses as appropriate. The financial statements of the Company’s subsidiary – DSP Group Technologies GmbH whose functional currency is in Euro, has been translated into dollars. All amounts on the balance sheets have been translated into the dollar using the exchange rates in effect on the relevant balance sheet dates. All amounts in the consolidated statements of operations have been translated into the dollar using the average exchange rate for the relevant periods. The resulting translation adjustments are reported as a component of accumulated other comprehensive income (loss) in changes in stockholders’ equity. Accumulated other comprehensive loss related to foreign currency translation adjustments, net amounted to $379 and $218 as of December 31, 2015 and 2014, respectively. |
Consolidation, Policy [Policy Text Block] | Principles of consolidation: The consolidated financial statements include the accounts of the Company. Intercompany transactions and balances have been eliminated in consolidation. |
Cash and Cash Equivalents, Unrestricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash equivalents: Cash equivalents are short-term highly liquid investments, which are readily convertible to cash with original maturity of three months or less from the date of acquisition. |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted deposits: Restricted deposits include deposits which are used as security for derivative instruments and for one of the Company’s lease agreements. |
Deposit Contracts, Policy [Policy Text Block] | Short-term deposits: Bank deposits with original maturities of more than three months and less than one year are presented at cost, including accrued interest. |
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block] | Marketable securities: The Company accounts for investments in debt securities in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 320-10, “Investments in Debt and Equity Securities.” Management determines the appropriate classification of the Company’s investments in debt securities at the time of purchase and reevaluates such determinations at each balance sheet date. The Company classified all of its investments in marketable securities as available for sale. Available-for-sale securities are carried at fair value, with the unrealized gains and losses, reported in other comprehensive income (loss) using the specific identification method. Unrealized losses determined to be other-than-temporary are recorded as a financial expense. The amortized cost of marketable securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization is included in financial income, net. Interest and dividends on securities are included in financial income, net. The marketable securities are periodically reviewed for impairment. If management concludes that any of these investments are impaired, management determines whether such impairment is other-than-temporary. Factors considered in making such a determination include the duration and severity of the impairment, the reason for the decline in value and the potential recovery period, and the Company’s intent to sell, or whether it is more likely than not that the Company will be required to sell the investment before recovery of cost basis. For debt securities, only the decline attributable to deteriorating credit of an-other-than-temporary impairment is recorded in the consolidated statement of operations, unless the Company intends, or more likely than not it will be forced, to sell the security. During the years ended December 31, 2015, 2014 and 2013, the Company did not record an-other-than-temporary impairment loss (see Note 3). |
Fair Value Measurement, Policy [Policy Text Block] | Fair value of financial instruments: Cash and cash equivalents, restricted deposits, short-term deposits, trade receivables, trade payables and accrued liabilities approximate fair value due to short term maturities of these instruments. Marketable securities and derivative instruments are carried at fair value. See Note 3 for more information. Fair value is an exit price, representing the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in valuation methodologies to measure fair value: Level 1- Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2- Include other inputs that are directly or indirectly observable in the marketplace. Level 3- Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. |
Inventory, Policy [Policy Text Block] | Inventories: Inventories are stated at the lower of cost or market value. Inventory reserves are provided to cover risks arising from slow-moving items or technological obsolescence. The Company and its subsidiaries periodically evaluate the quantities on hand relative to historical, current and projected sales volume. Based on this evaluation, an impairment charge is recorded when required to write-down inventory to its market value. Cost is determined as follows: Work in progress and finished products- on the basis of raw materials and manufacturing costs on an average basis. The Company regularly evaluates the ability to realize the value of inventory based on a combination of factors, including the following: historical usage rates and forecasted sales according to outstanding backlogs. Purchasing requirements and alternative usage are explored within these processes to mitigate inventory exposure. When recorded, the reserves are intended to reduce the carrying value of inventory to its net realizable value. Inventory of $11,453, $15,635 and $12,334 as of December 31, 2015, 2014 and 2013, respectively, is stated net of inventory reserves of $670, $505 and $591 in each year, respectively. If actual demand for the Company’s products deteriorates, or market conditions are less favorable than those projected, additional inventory reserves may be required |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and equipment, net: Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers and equipment 20 - 33 Office furniture and equipment 6 - 15 Leasehold improvements The shorter of term of the lease or the useful life of the asset Property and equipment of the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is measured by a comparison of the carrying amount of such assets to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During the years ended December 31, 2015, 2014 and 2013, no impairment losses were identified for property and equipment. The Company accounts for costs of computer software developed or obtained for internal use in accordance with FASB ASC No. 350-40, “The Internal Use Software.” FASB ASC 350-40 requires the capitalization of certain costs incurred in connection with developing or obtaining internal use software. During 2015, 2014 and 2013, the Company capitalized $1,086, $128 and $34, respectively, of internal use software cost. Such costs are amortized using the straight-line method over their estimated useful life of three years. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill and other intangible assets: The goodwill and certain other purchased intangible assets have been recorded as a result of the BoneTone Acquisition and the CIPT Acquisition. Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill is not amortized, but rather is subject to an annual impairment test. ASC 350 prescribes a two-phase process for impairment testing of goodwill. The first phase screens for impairment, while the second phase (if necessary) measures impairment. Goodwill impairment is deemed to exist if the net book value of a reporting unit exceeds its estimated fair value. In such a case, the second phase is then performed, and the Company measures impairment by comparing the carrying amount of the reporting unit’s goodwill to the implied fair value of that goodwill. An impairment loss is recognized in an amount equal to the excess. ASC 350 allows an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. An entity is not required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. Alternatively, ASC 350 permits an entity to bypass the qualitative assessment for any reporting unit and proceed directly to performing the first step of the goodwill impairment test. The Company performs an annual impairment test on December 31 of each fiscal year, or more frequently if impairment indicators are present. The Company’s reporting units are consistent with the reportable segments identified in Note 17. Fair value is determined using discounted cash flows, market multiples and market capitalization. Significant estimates used in the methodologies include estimates of future cash-flows, future short-term and long-term growth rates, weighted average cost of capital and market multiples for the reporting unit. For the fiscal year ended December 31, 2015, 2014 and 2013, the Company performed a quantitative assessment on its goodwill and no impairment losses were identified. Intangible assets that are not considered to have an indefinite useful life are amortized using the straight-line basis over their estimated useful lives, which range from 3 to 7.3 years. The carrying amount of these assets is reviewed whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of these assets is measured by comparison of the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate. If such asset is considered to be impaired, the impairment to be recognized is measured as the difference between the carrying amount of the assets and the fair value of the impaired asset. During 2015, 2014 and 2013, no impairment losses were identified. |
Severance Pay [Policy Text Block] | Severance pay: DSP Group Ltd., the Company’s Israeli subsidiary (“DSP Israel”), has a liability for severance pay pursuant to Israeli law, based on the most recent monthly salary of its employees multiplied by the number of years of employment as of the balance sheet date for such employees. DSP Israel’s liability is fully provided for by monthly accrual and deposits with severance pay funds and insurance policies. The deposited funds include profits accumulated up to the balance sheet date. The deposited funds may be withdrawn only upon the fulfillment of the obligation pursuant to Israel’s Severance Pay Law or labor agreements. Severance expenses for the years ended December 31, 2015, 2014 and 2013, were $1,498, $1,568 and $1,494, respectively. |
Revenue Recognition, Policy [Policy Text Block] | Revenue recognition: The Company generates its revenues from sales of products. The Company sells its products through a direct sales force and through a network of distributors. Product sales are recognized when persuasive evidence of an agreement exists, delivery of the product has occurred, the fee is fixed or determinable, collectability is reasonably assured, and no significant obligations remain. Persuasive evidence of an arrangement exists - Delivery has occurred Separately, the Company has consignment inventory which is held for specific customers at the customers’ premises. It recognizes revenue on the consigned inventory when the customer consumes the products from the warehouse, as that is when per the consignment inventory agreements, risk and title passes to the customer and the products are deemed delivered to the customer. Price is fixed or determinable Collectability of the related receivable is reasonably assured With respect to product sales through the Company’s distributors, such product revenues are deferred until the distributors resell the Company’s products to the end-customers (“sell through”) and recognized based upon receipt of reports from the distributors, provided all other revenue recognition criteria as discussed above are met. The Company views its distributor arrangements as that of consignment because, although the actual sales are conducted through the distributors and legally title for the products passes to the distributors upon delivery to the distributors, in substance inventory is simply being transferred to another location for sale to the end-user customers as the Company’s primary business relationships and responsibilities are directly with the end-user customers. Because the Company views its arrangements with its distributors as that of consignment relationships, delivery of goods is not deemed to have occurred solely upon delivery to the distributors. Therefore, the Company recognizes revenues from distributors under the “sell-through” method. As a result, revenue is deferred at the time of shipment to the distributors and is recognized only when the distributors sell the products to the end-user customers. |
Standard Product Warranty, Policy [Policy Text Block] | Warranty: The Company warrants its products against errors, defects and bugs for generally one year. The Company estimates the costs that may be incurred under its warranty and records a liability in the amount of such costs. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. Warranty costs and liability were immaterial for the years ended December 31, 2015, 2014 and 2013. |
Research and Development Expense, Policy [Policy Text Block] | Research and development costs, net: Research and development costs, net of grants received, are charged to the consolidated statement of operations as incurred. |
Government Grants [Policy Text Block] | Government grants: Government grants received by the Company’s Israeli subsidiary relating to categories of operating expenditures are credited to the consolidated statements of income during the period in which the expenditure to which they relate is charged. Royalty and non-royalty-bearing grants from the Israeli Office of the Chief Scientist (“OCS”) for funding certain approved research and development projects are recognized at the time when the Company’s Israeli subsidiary is entitled to such grants, on the basis of the related costs incurred, and are included as a deduction from research and development expenses, net. The Company recorded royalty bearing grants in the amount of $2,738, $3,002 and $2,116 for the year ended December 31, 2015 and 2014 and 2013, respectively. The Company’s Israeli subsidiary is obligated to pay royalties amounting to 5% of the sales of certain products the development of which received grants from the OCS in previous years. The obligation to pay these royalties is contingent on actual sales of such products. Grants received from the OCS may become repayable if certain criteria under the grants are not met. The Israeli Research and Development Law provides that know-how developed under an approved research and development program may not be transferred to third parties without the approval of the OCS. Such approval is not required for the sale or export of any products resulting from such research or development. The OCS, under special circumstances, may approve the transfer of OCS-funded know-how outside Israel, in the following cases: (a) the grant recipient pays to the OCS a portion of the sale price paid in consideration for such OCS-funded know-how or in consideration for the sale of the grant recipient itself, as the case may be, which portion will not exceed six times the amount of the grants received plus interest (or three times the amount of the grant received plus interest, in the event that the recipient of the know-how has committed to retain the R&D activities of the grant recipient in Israel after the transfer); (b) the grant recipient receives know-how from a third party in exchange for its OCS-funded know-how; (c) such transfer of OCS-funded know-how arises in connection with certain types of cooperation in research and development activities; or (d) if such transfer of know-how arises in connection with a liquidation by reason of insolvency or receivership of the grant recipient. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Equity-based compensation: At December 31, 2015, the Company had two equity incentive plans from which the Company may grant future equity awards and three expired equity incentive plans from which no future equity awards may be granted but had outstanding equity awards granted prior to expiration. The Company also had one employee stock purchase plan. See full description in Note 13. The Company accounts for equity-based compensation in accordance with FASB ASC No. 718, “Stock Compensation” (“FASB ASC No. 718”). FASB ASC No. 718 requires companies to estimate the fair value of equity-based awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s consolidated statements of operations. The Company recognizes compensation expenses for the value of its awards granted based on the accelerated attribution method, rather than a straight-line method over the requisite service period of each of the awards, net of estimated forfeitures. FASB ASC No. 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Estimated forfeitures are based on actual historical pre-vesting forfeitures. The Company selected the lattice option pricing model as the most appropriate fair value method for its equity-based awards and values options and stock appreciation rights (SARs) based on the market value of the underlying shares on the date of grant. The option-pricing model requires a number of assumptions, of which the most significant are the expected stock price volatility and the expected term of the equity-based award. Expected volatility is calculated based upon actual historical stock price movements. The expected term of the equity-based award granted is based upon historical experience and represents the period of time that the award granted is expected to be outstanding. The risk-free interest rate is based on the yield from U.S. treasury bonds with an equivalent term. The Company has historically not paid dividends and has no foreseeable plans to pay dividends. The Company granted stock appreciation rights (SARs) until 2012. Starting in 2013, a majority of the Company’s equity awards were in the form of restricted stock unit (“RSU”) grants . |
Earnings Per Share, Policy [Policy Text Block] | Basic and diluted income (loss) per share: Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during the year. Diluted net income (loss) per share further includes the dilutive effect of stock options, SARs and RSUs outstanding during the year, all in accordance with FASB ASC No. 260, “Earnings Per Share.” The total weighted average number of shares related to the outstanding stock options, SARs and RSUs excluded from the calculation of diluted net income per share due to their anti-dilutive effect was 403,632, 1,811,687and 2,730,867 for the years ended December 31, 2015, 2014 and 2013, respectively. |
Income Tax, Policy [Policy Text Block] | Income taxes: The Company accounts for income taxes in accordance with FASB ASC No. 740, “Income Taxes.” This topic prescribes the use of the liability method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. Deferred tax liabilities and assets are classified as non-current based on the adopting of Accounting Standards Update (“ASU”) 2015-17, “Balance Sheet Classification of Deferred Taxes.” Prior to the adoption of ASU 2015-17, U.S. GAAP required an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. ASU 2015-17 was issued to simplify the presentation of deferred income taxes. Deferred tax liabilities and assets are now classified as noncurrent in a classified statement of financial position for all period presented. The Company accounts for uncertain tax positions in accordance with ASC 740, which contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining whether the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The Company reevaluates its income tax positions periodically to consider factors such as changes in facts or circumstances, changes in or interpretations of tax law, effectively settled issues under audit, and new audit activity. Such a change in recognition or measurement would result in recognition of a tax benefit or an additional charge to the tax provision. The Company includes interest related to tax issues as part of income tax expense in its consolidated financial statements. The Company records any applicable penalties related to tax issues within the income tax provision. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, restricted deposits, short-term deposits, trade receivables and marketable securities. The majority of cash and cash equivalents and short-term deposits of the Company are invested in dollar deposits with major U.S., European and Israeli banks. Deposits in U.S. banks may be in excess of insured limits and are not insured in other jurisdictions. Generally, cash and cash equivalents and these deposits may be withdrawn upon demand and therefore bear low risk. The Company’s marketable securities consist of investment-grade corporate bonds and U.S. government-sponsored enterprise (“GSE”) securities. As of December 31, 2015, the amortized cost of the Company’s marketable securities was $102,717, and their stated market value was $102,216, representing an unrealized loss of $501. A significant portion of the products of the Company is sold to original equipment manufacturers of consumer electronics products. The customers of the Company are located primarily in Japan, Hong Kong, Taiwan, China, Korea, Europe and the United States. The Company performs ongoing credit evaluations of their customers. A specific allowance for doubtful accounts is determined, based on management’s estimates and historical experience. Under certain circumstances, the Company may require a letter of credit. The Company covers most of its trade receivables through credit insurance. As of December 31, 2015 and 2014, no allowance for doubtful accounts was provided. The Company has no off-balance-sheet concentration of credit risk, except for certain derivative instruments as mentioned below. |
Derivatives, Policy [Policy Text Block] | Derivative instruments: The Company accounts for derivatives and hedging based on FASB ASC No. 815,”Derivatives and Hedging”. ASC No. 815 requires companies to recognize all of their derivative instruments as either assets or liabilities on the balance sheet at fair value. For derivative instruments that are designated and qualify as a cash flows hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Any gain or loss on a derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item is recognized in current earnings during the period of change. To protect against the increase in value of forecasted foreign currency cash flows resulting from salary and rent payments in New Israeli Shekel (“NIS”) during the year, the Company instituted a foreign currency cash flow hedging program. The Company hedges portions of the anticipated payroll and rent of its Israeli facilities denominated in NIS for a period of one to 12 months with put and call options and forward contracts. These forward contracts and put and call options are designated as cash flow hedges and are all effective as hedges of these expenses. The fair value of the outstanding derivative instruments at December 31, 2015 and 2014 is summarized below: Fair value of Derivative assets As of December 31, (liabilities) Balance sheet location 2015 2014 Foreign exchange forward contracts and put and call options Accrued expenses and other accounts payable $ (36 ) $ (618 ) Total $ (36 ) $ (618 ) The effect of derivative instruments in cash flow hedging transactions on income and other comprehensive income (“OCI”) for the years ended December 31, 2015, 2014 and 2013 is summarized below: Gains (losses) on derivatives Year ended December 31, 2015 2014 2013 Foreign exchange forward contracts and put and call options $ (38 ) $ (1,180 ) $ 372 Gains (losses) on derivatives reclassified Year ended December 31, Location 2015 2014 2013 Foreign exchange forward contracts and put and call options Operating expenses $ (621 ) $ (562 ) $ 856 As of December 31, 2015, the Company had outstanding option contracts and forward contracts in the amount of $12,850 and $1,800, respectively. As of December 31, 2014, the Company had outstanding option contracts in the amount of $16,575. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive income: The Company accounts for comprehensive income in accordance with FASB ASC No. 220, “Comprehensive Income.” Comprehensive income generally represents all changes in stockholders’ equity during the period except those resulting from investments by, or distributions to, stockholders. The Company determined that its items of other comprehensive income relate to gains and losses on hedging derivative instruments, unrealized gains and losses on available-for-sale securities, unrealized gains and losses from pension and unrealized gain and losses from foreign currency translation adjustments. The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for 2015: Unrealized gains (losses) on available- for-sale marketable securities Unrealized gains (losses) on Cash Flow Hedges Unrealized gains (losses) on components of defined benefit plans Unrealized gains (losses) on fo reign currency translation Total January 1, 2015 $ (295 ) $ (618 ) $ (435 ) $ (218 ) $ (1,566 ) Other comprehensive income (loss) before reclassifications (230 ) (38 ) 63 (161 ) (366 ) Amounts reclassified from accumulated other comprehensive income (loss) 24 621 20 - 665 Net current period other comprehensive income (loss) (206 ) 583 83 (161 ) 299 December 31, 2015 $ (501 ) $ (35 ) $ (352 ) $ (379 ) $ (1,267 ) The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for 2015: Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement of Income (In millions) Losses on available-for-sale marketable securities $ 24 Financial income, net - Provision for income taxes 24 Total, net of income taxes Losses on cash flow hedges 487 Research and development 48 Sales and marketing 86 General and administrative 621 Total, before income taxes - Provision for income taxes 621 Total, net of income taxes Losses on components of defined benefit plans 12 Research and development 8 Sales and marketing 20 Total, before income taxes - Provision for income taxes 20 Total, net of income taxes Total reclassifications for the period 665 Total, net of income taxes |
Treasury Stock [Policy Text Block] | Treasury stock at cost The Company repurchases its common stock from time to time on the open market or in other transactions and holds such shares as treasury stock. The Company presents the cost to repurchase treasury stock as a reduction of stockholders’ equity. From time to time, the Company reissues treasury stock under its employee stock purchase plan and equity incentive plans, upon purchases or exercises of equity awards under the plans. When treasury stock is reissued, the Company accounts for the re-issuance in accordance with ASC No. 505-30, “Treasury Stock” and charges the excess of the purchase cost over the re-issuance price (loss) to retained earnings. The purchase cost is calculated based on the specific identification method. In case the purchase cost is lower than the re-issuance price, the Company credits the difference to additional paid-in capital. |
Cost Method Investments, Policy [Policy Text Block] | Investment in other company: Investment in other company is stated at cost. The Company followed ASC 323, “Investments - Equity and Joint Ventures,” to determine whether it should apply the equity method of accounting to a certain investment in preferred shares, and determined that the preferred shares were not in substance common stock. The Company’s investment in other company is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such investment may not be recoverable, in accordance with ASC 325-20. As of December 31, 2014, no impairment loss was indicated. As of December 31, 2015, an impairment in the amount of $400 was recognized in the Company’s consolidated financial statements as a result of the expiration of a purchase option related to such investment. (See also Note 9). |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Guidance: In May 2014, FASB issued ASU 2014-09, "Revenue from Contracts with Customers." ASU 2014-09 modifies revenue recognition guidance for U.S. GAAP. Previous revenue recognition guidance in U.S. GAAP comprised broad revenue recognition concepts together with numerous revenue requirements for particular industries or transactions, which sometimes resulted in different accounting for economically similar transactions. In contrast, International Accounting Standards Board ("IASB") provided limited guidance on revenue recognition. Accordingly, the FASB and IASB initiated a joint project to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP and International Financial Reporting Standards ("IFRS"). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. In August 2015, the FASB issued ASU 2015-14 to defer the effective date of ASU 2014-09 by one year. As a result, the amendments in ASU 2014-09 are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. An entity shall adopt the amendments in ASU 2014-09 by either (i) retrospectively adjusting each prior reporting period presented or (ii) retrospectively adjusting for the cumulative effect of initially applying ASU 2014-09 at the date of initial adoption. The Company has not determined (i) the extent to which it expects ASU 2014-09 will impact its reported revenues or (ii) the manner in which it will adopt ASU 2014-09. In September 2015, the FASB issued ASU 2015-16, "Business Combinations." ASU 2015-16 modifies how changes to provisional amounts determined during the measurement period of a business combination are recognized. Under existing accounting literature, changes to provisional amounts determined during the measurement period of a business combination, resulting from facts and circumstances that existed on the acquisition date, are recognized by retrospectively adjusting the provisional amounts on the acquisition date. However, under ASU 2015-16, an acquirer recognizes adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments are determined. ASU 2015-16 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. |
Note 2 - Significant Accounti27
Note 2 - Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Schedule of Useful Life of Property and Equipment [Table Text Block] | % Computers and equipment 20 - 33 Office furniture and equipment 6 - 15 Leasehold improvements The shorter of term of the lease or the useful life of the asset |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Fair value of Derivative assets As of December 31, (liabilities) Balance sheet location 2015 2014 Foreign exchange forward contracts and put and call options Accrued expenses and other accounts payable $ (36 ) $ (618 ) Total $ (36 ) $ (618 ) |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Gains (losses) on derivatives Year ended December 31, 2015 2014 2013 Foreign exchange forward contracts and put and call options $ (38 ) $ (1,180 ) $ 372 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Gains (losses) on derivatives reclassified Year ended December 31, Location 2015 2014 2013 Foreign exchange forward contracts and put and call options Operating expenses $ (621 ) $ (562 ) $ 856 |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized gains (losses) on available- for-sale marketable securities Unrealized gains (losses) on Cash Flow Hedges Unrealized gains (losses) on components of defined benefit plans Unrealized gains (losses) on fo reign currency translation Total January 1, 2015 $ (295 ) $ (618 ) $ (435 ) $ (218 ) $ (1,566 ) Other comprehensive income (loss) before reclassifications (230 ) (38 ) 63 (161 ) (366 ) Amounts reclassified from accumulated other comprehensive income (loss) 24 621 20 - 665 Net current period other comprehensive income (loss) (206 ) 583 83 (161 ) 299 December 31, 2015 $ (501 ) $ (35 ) $ (352 ) $ (379 ) $ (1,267 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement of Income (In millions) Losses on available-for-sale marketable securities $ 24 Financial income, net - Provision for income taxes 24 Total, net of income taxes Losses on cash flow hedges 487 Research and development 48 Sales and marketing 86 General and administrative 621 Total, before income taxes - Provision for income taxes 621 Total, net of income taxes Losses on components of defined benefit plans 12 Research and development 8 Sales and marketing 20 Total, before income taxes - Provision for income taxes 20 Total, net of income taxes Total reclassifications for the period 665 Total, net of income taxes |
Note 3 - Marketable Securitie28
Note 3 - Marketable Securities and Time Deposits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | Amortized cost Unrealized gains (losses), net Fair value 2015 2014 2015 2014 2015 2014 Short term deposit $ 5,568 $ 2,599 $ - $ - $ 5,568 $ 2,599 U.S. GSE securities 23,645 21,085 (114 ) (34 ) 23,531 21,051 Corporate obligations 79,072 80,389 (387 ) (262 ) 78,685 80,127 $ 108,285 $ 104,073 $ (501 ) $ (296 ) $ 107,784 $ 103,777 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Unrealized gains (losses) Fair cost Gains Losses value Due in one year or less $ 12,500 $ 8 $ (7 ) $ 12,501 Due after one year to five years 90,217 25 (527 ) 89,715 $ 102,717 $ 33 $ (534 ) $ 102,216 Amortized Unrealized gains (losses) Fair cost Gains Losses value Due in one year or less $ 8,910 $ 4 $ (5 ) $ 8,909 Due after one year to six years 92,564 110 (405 ) 92,269 $ 101,474 $ 114 $ (410 ) $ 101,178 |
Note 4 - Other Accounts Recei29
Note 4 - Other Accounts Receivable and Prepaid Expenses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Accounts Receivable And Prepaid Expenses Disclosure [Abstract] | |
Schedule of Other Accounts Receivable [Table Text Block] | December 31, 2015 2014 Prepaid expenses $ 2,054 $ 1,010 Tax and governmental receivables 956 649 Deposits 260 208 Others 49 35 $ 3,319 $ 1,902 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2015 2014 Work-in-progress $ 6,384 $ 6,795 Finished products 5,069 8,840 $ 11,453 $ 15,635 |
Note 6 - Property and Equipme31
Note 6 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | December 31, 2015 2014 Cost: Computers and equipment $ 19,735 $ 17,793 Office furniture and equipment 1,469 1,446 Leasehold improvements 4,728 4,559 25,932 23,798 Less - accumulated depreciation 22,168 20,955 Depreciated cost $ 3,764 $ 2,843 |
Note 7 - Intangible Assets, N32
Note 7 - Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Useful life December 31, (years) 2015 2014 Cost: Current technology 4.2 - 5.3 $ 77,080 $ 77,080 Customer relations 7.3 23,477 23,477 Technology (completion of the development of in-process R&D) 6 7,702 7,702 Non-competition agreement 3 519 519 108,778 108,778 Accumulated amortization: Current technology 48,263 48,263 Customer relations 13,407 13,407 Technology (completion of the development of in-process R&D) 3,851 2,567 Non-competition agreement 519 519 66,040 64,756 Impairment: (Note 7b) Current technology 28,817 28,817 Customer relations 10,070 10,070 38,887 38,887 Amortized cost $ 3,851 $ 5,135 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending December 31, 2016 $ 1,284 2017 1,284 2018 1,283 $ 3,851 |
Note 8 - Fair Value Measureme33
Note 8 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of Fair value measurements Description December 31, 2015 Level 1 Level 2 Level 3 Assets Cash equivalents Money market mutual funds $ 1,089 $ 1,089 - - Short-term marketable securities and time deposits U.S. GSE securities - - Corporate debt securities $ 12,501 - $ 12,501 - Long-term marketable securities U.S. GSE securities $ 23,531 - $ 23,531 - Corporate debt securities $ 66,184 - $ 66,184 - Derivative liabilities $ (36 ) - $ (36 ) - Balance as of Fair value measurements Description December 31, 2014 Level 1 Level 2 Level 3 Assets Cash equivalents Money market mutual funds $ 2,746 $ 2,746 - Short-term marketable securities and time deposits U.S. GSE securities $ 1,499 - $ 1,499 - Corporate debt securities $ 7,410 - $ 7,410 - Long-term marketable securities U.S. GSE securities $ 19,552 - $ 19,552 - Corporate debt securities $ 72,717 - $ 72,717 Derivative liabilities $ (618 ) - $ (618 ) - |
Note 10 - Accrued Expenses an34
Note 10 - Accrued Expenses and Other Accounts Payable (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, 2015 2014 Accrued expenses $ 2,729 $ 3,279 Derivative instruments 36 618 Legal, accounting and investors relation accrual 615 543 Royalties and commission 488 538 Governmental payables 212 104 Others 738 770 $ 4,818 $ 5,852 |
Note 11 - Accrued Pension Lia35
Note 11 - Accrued Pension Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] | December 31, 201 5 2014 Accumulated benefit obligation $ 937 $ 1,194 Change in benefit obligation Benefit obligation at beginning of year $ 1,205 $ 1,239 Service cost 5 5 Interest cost 17 29 Benefits paid from the plan (96 ) (152 ) Actuarial loss (62 ) 218 Exchange rates and others (123 ) (134 ) Benefit obligation at end of year $ 946 $ 1,205 Change in plan assets Fair value of plan assets at beginning of year 116 258 Actual return on plan assets 5 6 Benefits paid from the plan (56 ) (127 ) Exchange rates (11 ) (21 ) Fair value of plan assets at end of year $ 54 $ 116 |
Schedule of Assumptions Used [Table Text Block] | Year ended December 31, 201 5 201 4 201 3 Weighted-average assumptions Discount rate 2.5 % 2.1 % 3.5 % Expected return on plan assets 4.28 % 2.86 % 2.88 % Rate of compensation increase 2.5 % 2.5 % 2.5 % |
Schedule of Net Benefit Costs [Table Text Block] | December 31, 201 2014 2013 Components of net periodic benefit cost Service cost $ 5 $ 5 $ 5 Interest cost 17 29 35 Expected return on plan assets (5 ) (6 ) (6 ) Amortization of net loss 20 11 11 Net periodic benefit cost $ 37 $ 39 $ 45 |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | December 31, 201 5 201 4 Net amounts recognized in the consolidated balance sheets as of December 31, 2015 and 2014 consist of: Current liabilities $ - $ - Noncurrent liabilities 892 1,089 Net amounts recognized in the consolidated balance sheets $ 892 $ 1,089 Net amounts recognized in accumulated other comprehensive income as of December 31, 2015 and 2014 consist of: Net actuarial loss $ (351 ) $ (435 ) Net amounts recognized in accumulated other comprehensive loss $ (351 ) $ (435 ) |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | 2016 Net actuarial loss and other $ 14 |
Schedule of Expected Benefit Payments [Table Text Block] | Year ending December 31, 2016 $ 55 2017 $ 21 2018 $ 8 2019 $ 8 2020 $ 9 2021-2025 $ 104 |
Schedule of Allocation of Plan Assets [Table Text Block] | December 31, 201 5 201 4 Bonds - - Real estate - - Cash - - Shares - - Other 100 % 100 % 100 % 100 % |
Pension Plan Asset Allocations, Fair Value [Table Text Block] | Fair value measurements at December 31, 201 5 using: Total fair value at December 31, 2015 Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs Cash $ - $ - $ - $ - Equity securities - - - - Real estate - - - - Corporate bonds - - - - Others 54 - 54 - Total assets measured at fair value $ 54 $ - $ 54 $ - |
Note 12 - Financial Income, N36
Note 12 - Financial Income, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Year ended December 31, 2015 2014 2013 Foreign exchange gains $ 19 $ 27 $ - Interest income from marketable securities and deposits, net of amortization of premium on marketable securities 1,391 1,391 1,656 Realized gains on marketable securities 3 73 1,013 Other - - 13 Financial income 1,413 1,491 2,682 Realized losses on marketable securities 27 12 4 Foreign exchange losses 58 113 86 Interest expenses 12 24 29 Other 141 138 106 Financial expense 238 287 225 Financial income, net $ 1,175 $ 1,204 $ 2,457 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Schedule Of Equity Based Awards Available For Future Issuance [Table Text Block] | ESPP 1,170,000 Equity awards 1,063,000 Undesignated preferred stock 5,000,000 7,233,000 |
Schedule of Share-based Compensation, Activity [Table Text Block] | 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 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | 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 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 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 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | 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 |
Note 14 - Commitments and Con38
Note 14 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year ended December 31, 2016 $ 2,684 2017 1,835 2018 1,614 2019 and thereafter 145 $ 6,278 |
Note 15 - Taxes On Income (Tabl
Note 15 - Taxes On Income (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended December 31, 2015 2014 2013 Domestic taxes Federal taxes: Current $ - $ - $ (271 ) State taxes: Current 2 2 (9 ) Foreign taxes: Current (1) 1,081 (1,672 ) 507 Deferred (2) (756 ) (1,170 ) (377 ) Domestic taxes 325 (2,842 ) 130 Tax expenses (income) tax benefit $ 327 $ (2,840 ) $ (150 ) |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year ended December 31, 2015 2014 2013 Domestic $ (909 ) $ (3,497 ) $ (3,525 ) Foreign 2,798 4,258 6,051 $ 1,889 $ 761 $ 2,526 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended December 31, 2015 2014 2013 Income (loss) before taxes on income $ 1,889 $ 761 $ 2,526 Theoretical tax at U.S. statutory tax rate (35%) $ 661 $ 266 $ 884 State taxes, net of federal benefit 2 2 2 Foreign income taxed at rates other than the U.S. rate (including deferred taxes that were not provided, valuation allowance and current adjustment and interest on uncertain tax position liability) (2,209 ) (5,974 ) (3,015 ) Nondeductible equity-based compensation expenses 1,782 1,876 1,456 Current adjustment and interest on uncertain tax position liability in U.S. - - (283 ) Valuation allowance in U.S. 91 989 804 Other - 1 2 $ 327 $ (2,840 ) $ (150 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2015 2014 Deferred tax assets (short-term): Reserves and accruals $ - $ 149 Carryforward tax losses $ - $ 626 Total deferred tax assets (short-term) - 775 Valuation allowance - - Total - 775 Deferred tax assets (long-term): Reserves and accruals 1,823 1,669 Equity-based compensation 462 2,761 Intangible assets 805 1,198 Carryforward tax losses 5,798 (1) 27,621 Other - 15 Total deferred tax assets (long-term) 8,888 33,264 Valuation allowance (7,577 ) (33,115 ) Total 1,311 149 Total deferred tax assets $ 1,311 $ 924 Deferred tax liabilities, net (Long term): Acquired intangible assets 963 1,360 Acquired carryforward tax losses (487 ) (515 ) Total deferred tax liabilities, net $ 476 $ 845 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2015 2014 Gross unrecognized tax benefits at January 1 $ 1,031 $ 1,892 Increases in tax positions for previous years 177 115 Increases in tax positions for current year 533 71 Change in interest and linkage related to tax positions (30 ) (85 ) Lapse in statute of limitations or finalization of tax assessment - (858 ) Gross unrecognized tax benefits at December 31 $ 1,711 $ 1,031 |
Note 16 - Basic and Diluted L40
Note 16 - Basic and Diluted Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, 2015 2014 2013 Numerator: Net income $ 1,562 $ 3,602 $ 2,676 Denominator: Weighted average number of shares of common stock outstanding during the year used to compute basic net earnings per share (in thousands) 21,924 21,968 22,249 Incremental shares attributable to exercise of outstanding options, SARs and RSUs (assuming proceeds would be used to purchase treasury stock) (in thousands) 1,416 986 657 Weighted average number of shares of common stock used to compute diluted net earnings per share (in thousands) 23,340 22,954 22,906 Basic net earnings per share $ 0.07 $ 0.16 $ 0.12 Diluted net earnings per share $ 0.07 $ 0.16 $ 0.12 |
Note 17 - Segment Information (
Note 17 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year ended December 31 Revenues Income (loss) from operations 2015 2014 2013 2015 2014 2013 Home $ 121,714 $ 128,690 $ 142,144 $ 24,815 $ 23,438 $ 25,367 Office $ 22,216 $ 14,276 $ 8,849 $ (4,861 ) $ (2,805 ) $ (4,656 ) Mobile $ 341 $ 70 $ 70 $ (10,308 ) $ (11,983 ) $ (11,040 ) Total $ 144,271 $ 143,036 $ 151,063 $ 9,646 $ 8,650 $ 9,671 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Year ended December 31, 2015 2014 2013 Income from operations $ 9,646 $ 8,650 $ 9,671 Unallocated corporate, general and administrative expenses * (2,156 ) (2,161 ) (2,368 ) Proxy contest related expenses - - (1,403 ) Equity-based compensation expenses (5,092 ) (5,359 ) (4,159 ) Intangible assets amortization expenses (1,284 ) (1,573 ) (1,672 ) Write–off of expired option related to investment in other company (400 ) - - Financial income, net 1,175 1,204 2,457 Total consolidated income before taxes $ 1,889 $ 761 $ 2,526 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Year ended December 31, 2015 2014 2013 Revenue distribution Hong-Kong $ 72,608 $ 79,622 $ 86,090 Japan 26,114 31,261 34,377 Europe 8,464 6,787 7,370 United States 3,944 4,702 4,342 China 10,359 6,568 6,999 Taiwan 16,902 9,077 7,093 Other 5,880 5,019 4,792 $ 144,271 $ 143,036 $ 151,063 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | December 31, 2015 2014 Long-lived assets Europe $ 259 $ 188 Israel 2,989 2,264 Other 516 391 $ 3,764 $ 2,843 |
Note 1 - General (Details)
Note 1 - General (Details) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
VTech Holdings Ltd. [Member] | |||
Note 1 - General (Details) [Line Items] | |||
Concentration Risk, Percentage | 31.00% | 35.00% | 36.00% |
Guo Wei Electronics [Member] | |||
Note 1 - General (Details) [Line Items] | |||
Concentration Risk, Percentage | 12.00% | 8.00% | 8.00% |
Tomen Electronics Corporation [Member] | |||
Note 1 - General (Details) [Line Items] | |||
Concentration Risk, Percentage | 16.00% | 20.00% | 19.00% |
Panasonic Communications Corporation [Member] | |||
Note 1 - General (Details) [Line Items] | |||
Concentration Risk, Percentage | 13.00% | 15.00% | 14.00% |
Ascend Technology Inc [Member] | |||
Note 1 - General (Details) [Line Items] | |||
Concentration Risk, Percentage | 15.00% | 10.00% | 9.00% |
Note 2 - Significant Accounti43
Note 2 - Significant Accounting Policies (Details) | 12 Months Ended | ||
Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Dec. 31, 2013USD ($)shares | |
Note 2 - Significant Accounting Policies (Details) [Line Items] | |||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | $ 379,000 | $ 218,000 | |
Inventory, Net | 11,453,000 | 15,635,000 | $ 12,334 |
Inventory Valuation Reserves | 670,000 | 505,000 | 591 |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 0 |
Capitalized Computer Software, Additions | 1,086,000 | 128,000 | 34,000 |
Goodwill, Impairment Loss | 0 | 0 | 0 |
Severance Costs | $ 1,498,000 | 1,568,000 | 1,494,000 |
Product Warranty Term | 1 year | ||
Financial Grants in Support of Research and Development | $ 2,738,000 | $ 3,002,000 | $ 2,116,000 |
Share-based Compensation Arrangement byShare-based Payment Award, Number of Expired Equity Incentive Plans | 2 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Equity Incentive Plans | 3 | ||
Share-based Compensation, Employee Stock Purchase Plan, Number of Plans | 1 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | shares | 403,632 | 1,811 | 2,730,867 |
Available-for-sale Securities, Amortized Cost Basis | $ 108,285,000 | $ 104,073,000 | |
Available-for-sale Securities | 107,784,000 | 103,777,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 534,000 | 410,000 | |
Allowance for Doubtful Accounts Receivable | 0 | 0 | |
Write-off of Expired Option Related to Equity Method Investment | 400,000 | 0 | |
Foreign Exchange Option [Member] | |||
Note 2 - Significant Accounting Policies (Details) [Line Items] | |||
Price Risk Cash Flow Hedge Asset, at Fair Value | 12,850,000 | 16,575,000 | |
Forward Contracts [Member] | |||
Note 2 - Significant Accounting Policies (Details) [Line Items] | |||
Price Risk Cash Flow Hedge Asset, at Fair Value | 1,800,000 | ||
Debt Securities [Member] | |||
Note 2 - Significant Accounting Policies (Details) [Line Items] | |||
Available-for-sale Securities, Amortized Cost Basis | 102,717,000 | 101,474,000 | |
Available-for-sale Securities | 102,216,000 | $ 101,178,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 501,000 | ||
Minimum [Member] | |||
Note 2 - Significant Accounting Policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Derivative Instrument Hedging Period | 1 month | ||
Maximum [Member] | |||
Note 2 - Significant Accounting Policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 7 years 109 days | ||
Derivative Instrument Hedging Period | 12 months | ||
Computer Software, Intangible Asset [Member] | |||
Note 2 - Significant Accounting Policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years |
Note 2 - Significant Accounti44
Note 2 - Significant Accounting Policies (Details) - Property and Equipment Depreciation Rates | 12 Months Ended |
Dec. 31, 2015 | |
Leasehold Improvements [Member] | |
Leasehold improvements | The shorter of term of the lease or the useful life of the asset |
Minimum [Member] | Computer Equipment [Member] | |
property, plant, and equipment, depreciation | 20.00% |
Minimum [Member] | Office Furniture and Equipment [Member] | |
property, plant, and equipment, depreciation | 6.00% |
Maximum [Member] | Computer Equipment [Member] | |
property, plant, and equipment, depreciation | 33.00% |
Maximum [Member] | Office Furniture and Equipment [Member] | |
property, plant, and equipment, depreciation | 15.00% |
Note 2 - Significant Accounti45
Note 2 - Significant Accounting Policies (Details) - Fair Value of the Outstanding Derivative Instruments - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2013 |
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative instruments | $ (36) | $ (618) |
Foreign Exchange Forward Contracts and Put Options [Member] | Prepaid Expenses and Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative instruments | $ (36) | $ (618) |
Note 2 - Significant Accounti46
Note 2 - Significant Accounting Policies (Details) - Effect of Derivative Instruments in Cash Flow Hedging Transactions on Income and Other Comprehensive Income Gains (Losses) on Derivatives Recognized in OCI - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Foreign Exchange Contract [Member] | |||
Note 2 - Significant Accounting Policies (Details) - Effect of Derivative Instruments in Cash Flow Hedging Transactions on Income and Other Comprehensive Income Gains (Losses) on Derivatives Recognized in OCI [Line Items] | |||
Foreign exchange forward contracts and put and call options | $ (38) | $ (1,180) | $ 372 |
Note 2 - Significant Accounti47
Note 2 - Significant Accounting Policies (Details) - Gains (Losses) on Derivatives Reclassified from OCI to Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Gains (Losses) on Derivatives Reclassified from OCI to Income [Abstract] | |||
Foreign exchange forward contracts and put and call options | $ (621) | $ (562) | $ 856 |
Note 2 - Significant Accounti48
Note 2 - Significant Accounting Policies (Details) - Changes in Accumulated Other Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
January 1, 2015 | $ (1,566) | ||
Other comprehensive income (loss) before reclassifications | (366) | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 665 | ||
Net current period other comprehensive income (loss) | 299 | $ (745) | $ (1,809) |
December 31, 2015 | (1,267) | (1,566) | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
January 1, 2015 | (295) | ||
Other comprehensive income (loss) before reclassifications | (230) | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 24 | ||
Net current period other comprehensive income (loss) | (206) | ||
December 31, 2015 | (501) | (295) | |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
January 1, 2015 | (618) | ||
Other comprehensive income (loss) before reclassifications | (38) | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 621 | ||
Net current period other comprehensive income (loss) | 583 | ||
December 31, 2015 | (35) | (618) | |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
January 1, 2015 | (435) | ||
Other comprehensive income (loss) before reclassifications | 63 | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 20 | ||
Net current period other comprehensive income (loss) | 83 | ||
December 31, 2015 | (352) | (435) | |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
January 1, 2015 | (218) | ||
Other comprehensive income (loss) before reclassifications | (161) | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | ||
Net current period other comprehensive income (loss) | (161) | ||
December 31, 2015 | $ (379) | $ (218) |
Note 2 - Significant Accounti49
Note 2 - Significant Accounting Policies (Details) - Reclassifications Out of Accumulated Other Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Losses on available-for-sale marketable securities | $ 1,175 | $ 1,204 | $ 2,457 | |
Net income | 1,562 | 3,602 | 2,676 | |
Losses on cash flow hedges | ||||
Research and development | [1] | 35,483 | 33,468 | 35,000 |
Sales and marketing | [2] | 12,103 | 11,905 | 11,273 |
General and administrative | [3] | 9,876 | $ 10,541 | $ 11,812 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net income | 665 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Losses on available-for-sale marketable securities | 24 | |||
Net income | 24 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net income | 621 | |||
Losses on cash flow hedges | ||||
Research and development | 487 | |||
Sales and marketing | 48 | |||
General and administrative | 86 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net income | 20 | |||
Losses on cash flow hedges | ||||
Research and development | 12 | |||
Sales and marketing | 8 | |||
General and administrative | $ 20 | |||
[1] | Includes equity-based compensation expense in the amount of $2,201, $2,381 and $1,873 for the years ended December 31, 2015, 2014 and 2013, respectively. | |||
[2] | Includes equity-based compensation expense in the amount of $641, $621 and $478 for the years ended December 31, 2015, 2014 and 2013, respectively. | |||
[3] | Includes equity-based compensation expense in the amount of $1,950, $2,057 and $1,555 for the years ended December 31, 2015, 2014 and 2013, respectively. |
Note 3 - Marketable Securitie50
Note 3 - Marketable Securities and Time Deposits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Investments, Debt and Equity Securities [Abstract] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 84,095 | $ 68,945 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 534 | 410 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 70 | 113 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 464 | 297 | |
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 20,127 | 23,250 | $ 18,325 |
Proceeds from Sale of Available-for-sale Securities | 13,238 | 46,491 | 42,949 |
Available-for-sale Securities, Gross Realized Gains | 3 | 73 | 1,013 |
Available-for-sale Securities, Gross Realized Losses | $ 27 | $ 12 | $ 4 |
Note 3 - Marketable Securitie51
Note 3 - Marketable Securities and Time Deposits (Details) - Marketable Securities and Time Deposits - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Marketable securities and time deposits, amortized cost | $ 108,285 | $ 104,073 |
Marketable securities and time deposits, unrealized gains (losses), net | (501) | (296) |
Marketable securities and time deposits, estimated fair value | 107,784 | 103,777 |
Short-term Deposits [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Marketable securities and time deposits, amortized cost | 5,568 | 2,599 |
Marketable securities and time deposits, unrealized gains (losses), net | 0 | 0 |
Marketable securities and time deposits, estimated fair value | 5,568 | 2,599 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Marketable securities and time deposits, amortized cost | 23,645 | 21,085 |
Marketable securities and time deposits, unrealized gains (losses), net | (114) | (34) |
Marketable securities and time deposits, estimated fair value | 23,531 | 21,051 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Marketable securities and time deposits, amortized cost | 79,072 | 80,389 |
Marketable securities and time deposits, unrealized gains (losses), net | (387) | (262) |
Marketable securities and time deposits, estimated fair value | $ 78,685 | $ 80,127 |
Note 3 - Marketable Securitie52
Note 3 - Marketable Securities and Time Deposits (Details) - Marketable Debt Securities by Contractual Maturities - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 3 - Marketable Securities and Time Deposits (Details) - Marketable Debt Securities by Contractual Maturities [Line Items] | ||
Marketable debt securities, amortized cost | $ 108,285 | $ 104,073 |
Marketable debt securities, estimated fair value | 107,784 | 103,777 |
Debt Securities [Member] | ||
Note 3 - Marketable Securities and Time Deposits (Details) - Marketable Debt Securities by Contractual Maturities [Line Items] | ||
Marketable debt securities, amortized cost | 102,717 | 101,474 |
Marketable debt securities, unrealized gains | 33 | 114 |
Marketable debt securities, unrealized losses | (534) | (410) |
Marketable debt securities, estimated fair value | 102,216 | 101,178 |
Debt Securities [Member] | Due in One Year or Less [Member] | ||
Note 3 - Marketable Securities and Time Deposits (Details) - Marketable Debt Securities by Contractual Maturities [Line Items] | ||
Marketable debt securities, amortized cost | 12,500 | 8,910 |
Marketable debt securities, unrealized gains | 8 | 4 |
Marketable debt securities, unrealized losses | (7) | (5) |
Marketable debt securities, estimated fair value | 12,501 | 8,909 |
Debt Securities [Member] | Due After One Year to Five Years [Member] | ||
Note 3 - Marketable Securities and Time Deposits (Details) - Marketable Debt Securities by Contractual Maturities [Line Items] | ||
Marketable debt securities, amortized cost | 90,217 | |
Marketable debt securities, unrealized gains | 25 | |
Marketable debt securities, unrealized losses | (527) | |
Marketable debt securities, estimated fair value | $ 89,715 | |
Debt Securities [Member] | Due After One Year to Six Years [Member] | ||
Note 3 - Marketable Securities and Time Deposits (Details) - Marketable Debt Securities by Contractual Maturities [Line Items] | ||
Marketable debt securities, amortized cost | 92,564 | |
Marketable debt securities, unrealized gains | 110 | |
Marketable debt securities, unrealized losses | (405) | |
Marketable debt securities, estimated fair value | $ 92,269 |
Note 4 - Other Accounts Recei53
Note 4 - Other Accounts Receivable and Prepaid Expenses (Details) - Other Accounts Receivable and Prepaid Expenses - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Other Accounts Receivable and Prepaid Expenses [Abstract] | ||
Prepaid expenses | $ 2,054 | $ 1,010 |
Tax and governmental receivables | 956 | 649 |
Deposits | 260 | 208 |
Others | 49 | 35 |
$ 3,319 | $ 1,902 |
Note 5 - Inventories (Details)
Note 5 - Inventories (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Inventory Disclosure [Abstract] | |||
Inventory Write-down | $ 361 | ||
Income Due To Utilization of Previously Written-off Inventory | $ 6 | $ 261 |
Note 5 - Inventories (Details)
Note 5 - Inventories (Details) - Components of Inventories - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Components of Inventories [Abstract] | |||
Work-in-progress | $ 6,384,000 | $ 6,795,000 | |
Finished products | 5,069,000 | 8,840,000 | |
$ 11,453,000 | $ 15,635,000 | $ 12,334 |
Note 6 - Property and Equipme56
Note 6 - Property and Equipment, Net (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Property, Plant and Equipment, Disposals | $ 24,247,000 | ||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 0 | ||
Depreciation, Depletion and Amortization, Nonproduction | $ 1,356,000 | $ 1,290,000 | $ 1,994,000 |
Note 6 - Property and Equipme57
Note 6 - Property and Equipment, Net (Details) - Property and Equipment - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Cost: | ||
Property and equipment | $ 25,932 | $ 23,798 |
Less - accumulated depreciation | 22,168 | 20,955 |
Depreciated cost | 3,764 | 2,843 |
Computer Equipment [Member] | ||
Cost: | ||
Property and equipment | 19,735 | 17,793 |
Office Furniture and Equipment [Member] | ||
Cost: | ||
Property and equipment | 1,469 | 1,446 |
Leasehold Improvements [Member] | ||
Cost: | ||
Property and equipment | $ 4,728 | $ 4,559 |
Note 7 - Intangible Assets, N58
Note 7 - Intangible Assets, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | |||
Amortization of Intangible Assets | $ 1,284 | $ 1,573 | $ 1,672 |
Note 7 - Intangible Assets, N59
Note 7 - Intangible Assets, Net (Details) - Intangible Assets - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cost: | ||
Intangible assets, cost | $ 108,778 | $ 108,778 |
Accumulated amortization: | ||
Intangible assets, accumulated amortization | 66,040 | 64,756 |
Impairment: (Note 7b) | ||
Inangible assets, impairment | 38,887 | 38,887 |
Amortized cost | 3,851 | 5,135 |
Technology-Based Intangible Assets [Member] | ||
Cost: | ||
Intangible assets, cost | 77,080 | 77,080 |
Accumulated amortization: | ||
Intangible assets, accumulated amortization | 48,263 | 48,263 |
Impairment: (Note 7b) | ||
Inangible assets, impairment | $ 28,817 | 28,817 |
Customer Relationships [Member] | ||
Cost: | ||
Intangible assets, useful life | 7 years 109 days | |
Intangible assets, cost | $ 23,477 | 23,477 |
Accumulated amortization: | ||
Intangible assets, accumulated amortization | $ 13,407 | 13,407 |
In Process Research and Development [Member] | ||
Cost: | ||
Intangible assets, useful life | 6 years | |
Intangible assets, cost | $ 7,702 | 7,702 |
Accumulated amortization: | ||
Intangible assets, accumulated amortization | $ 3,851 | 2,567 |
Noncompete Agreements [Member] | ||
Cost: | ||
Intangible assets, useful life | 3 years | |
Intangible assets, cost | $ 519 | 519 |
Accumulated amortization: | ||
Intangible assets, accumulated amortization | 519 | 519 |
Impairment: (Note 7b) | ||
Inangible assets, impairment | $ 10,070 | $ 10,070 |
Minimum [Member] | ||
Cost: | ||
Intangible assets, useful life | 3 years | |
Minimum [Member] | Technology-Based Intangible Assets [Member] | ||
Cost: | ||
Intangible assets, useful life | 4 years 73 days | |
Maximum [Member] | ||
Cost: | ||
Intangible assets, useful life | 7 years 109 days | |
Maximum [Member] | Technology-Based Intangible Assets [Member] | ||
Cost: | ||
Intangible assets, useful life | 5 years 109 days |
Note 7 - Intangible Assets, N60
Note 7 - Intangible Assets, Net (Details) - Estimated Amortization Expenses - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Estimated Amortization Expenses [Abstract] | ||
2,016 | $ 1,284 | |
2,017 | 1,284 | |
2,018 | 1,283 | |
$ 3,851 | $ 5,135 |
Note 8 - Fair Value Measureme61
Note 8 - Fair Value Measurements (Details) - Fair Value Measurements of Assets and Liabilities on Recurring Basis - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Money Market Funds [Member] | ||
Cash equivalents | ||
Fair value, cash equivalents | $ 1,089 | $ 2,746 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Short-term marketable securities and time deposits | ||
Fair value, short-term marketable securities and time deposits | 1,499 | |
Long-term marketable securities | ||
Fair value, long-term marketable securities | 23,531 | 19,552 |
Corporate Debt Securities [Member] | ||
Short-term marketable securities and time deposits | ||
Fair value, short-term marketable securities and time deposits | 12,501 | 7,410 |
Long-term marketable securities | ||
Fair value, long-term marketable securities | 66,184 | 72,717 |
Derivative Financial Instruments, Assets [Member] | ||
Long-term marketable securities | ||
Fair value, derivative liabilities | (36) | (618) |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Cash equivalents | ||
Fair value, cash equivalents | 1,089 | 2,746 |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Short-term marketable securities and time deposits | ||
Fair value, short-term marketable securities and time deposits | 1,499 | |
Long-term marketable securities | ||
Fair value, long-term marketable securities | 23,531 | 19,552 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Short-term marketable securities and time deposits | ||
Fair value, short-term marketable securities and time deposits | 12,501 | 7,410 |
Long-term marketable securities | ||
Fair value, long-term marketable securities | 66,184 | 72,717 |
Fair Value, Inputs, Level 2 [Member] | Derivative Financial Instruments, Assets [Member] | ||
Long-term marketable securities | ||
Fair value, derivative liabilities | $ (36) | $ (618) |
Note 9 - Investment in Other 62
Note 9 - Investment in Other Company (Details) - USD ($) | Oct. 24, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Note 9 - Investment in Other Company (Details) [Line Items] | ||||
Payments to Acquire Investments | $ 2,200,000 | |||
Write-off of Expired Option Related to Equity Method Investment | $ 400,000 | $ 0 | ||
Asian Private Company [Member] | ||||
Note 9 - Investment in Other Company (Details) [Line Items] | ||||
Payments to Acquire Investments | $ 2,200,000 | |||
Cost Method Investment Ownership Percentage | 14.00% |
Note 10 - Accrued Expenses an63
Note 10 - Accrued Expenses and Other Accounts Payable (Details) - Accrued Expenses and Other Accounts Payable - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accrued Expenses and Other Accounts Payable [Abstract] | ||
Accrued expenses | $ 2,729 | $ 3,279 |
Derivative instruments | 36 | 618 |
Legal, accounting and investors relation accrual | 615 | 543 |
Royalties and commission | 488 | 538 |
Governmental payables | 212 | 104 |
Others | 738 | 770 |
$ 4,818 | $ 5,852 |
Note 11 - Accrued Pension Lia64
Note 11 - Accrued Pension Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Defined Benefit Plan Corridor Percentage | 10.00% | ||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | $ 63 | $ (209) | $ (11) |
Note 11 - Accrued Pension Lia65
Note 11 - Accrued Pension Liabilities (Details) - Changes in the Pension Plans' Benefit Obligation and Fair Value of Assets - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Changes in the Pension Plans' Benefit Obligation and Fair Value of Assets [Abstract] | |||
Accumulated benefit obligation | $ 937 | $ 1,194 | |
Change in benefit obligation | |||
Benefit obligation at beginning of year | 1,205 | 1,239 | |
Service cost | 5 | 5 | $ 5 |
Interest cost | 17 | 29 | 35 |
Benefits paid from the plan | (96) | (152) | |
Actuarial loss | (62) | 218 | |
Exchange rates and others | (123) | (134) | |
Benefit obligation at end of year | 946 | 1,205 | 1,239 |
Change in plan assets | |||
Fair value of plan assets at beginning of year | 116 | 258 | |
Actual return on plan assets | 5 | 6 | |
Benefits paid from the plan | (56) | (127) | |
Exchange rates | (11) | (21) | |
Fair value of plan assets at end of year | $ 54 | $ 116 | $ 258 |
Note 11 - Accrued Pension Lia66
Note 11 - Accrued Pension Liabilities (Details) - Assumptions Used in the Measurement of the Pension Expense and Benefit Obligations | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Weighted-average assumptions | |||
Discount rate | 2.50% | 2.10% | 3.50% |
Expected return on plan assets | 4.28% | 2.86% | 2.88% |
Rate of compensation increase | 2.50% | 2.50% | 2.50% |
Note 11 - Accrued Pension Lia67
Note 11 - Accrued Pension Liabilities (Details) - Components of Net Periodic Benefit Costs - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Components of net periodic benefit cost | |||
Service cost | $ 5 | $ 5 | $ 5 |
Interest cost | 17 | 29 | 35 |
Expected return on plan assets | (5) | (6) | (6) |
Amortization of net loss | 20 | 11 | 11 |
Net periodic benefit cost | $ 37 | $ 39 | $ 45 |
Note 11 - Accrued Pension Lia68
Note 11 - Accrued Pension Liabilities (Details) - Net Amounts Recognized in Consolidated Balance Sheets and Accumulated Other Comprehensive Income (Loss) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Net Amounts Recognized in Consolidated Balance Sheets and Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Noncurrent liabilities | $ 892 | $ 1,089 |
Net amounts recognized in the consolidated balance sheets | 892 | 1,089 |
Net amounts recognized in accumulated other comprehensive income as of December 31, 2015 and 2014 consist of: | ||
Net actuarial loss | (351) | (435) |
Net amounts recognized in accumulated other comprehensive loss | $ (351) | $ (435) |
Note 11 - Accrued Pension Lia69
Note 11 - Accrued Pension Liabilities (Details) - Estimated Amount That will Amortized from Accumulated Other Comprehensive Income (Loss) into Net Periodic Benefit Cost $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Estimated Amount That will Amortized from Accumulated Other Comprehensive Income (Loss) into Net Periodic Benefit Cost [Abstract] | |
Net actuarial loss and other | $ 14 |
Note 11 - Accrued Pension Lia70
Note 11 - Accrued Pension Liabilities (Details) - Benefit Payments Expected to Be Paid $ in Thousands | Dec. 31, 2015USD ($) |
Benefit Payments Expected to Be Paid [Abstract] | |
2,016 | $ 55 |
2,017 | 21 |
2,018 | 8 |
2,019 | 8 |
2,020 | 9 |
2021-2025 | $ 104 |
Note 11 - Accrued Pension Lia71
Note 11 - Accrued Pension Liabilities (Details) - Plan Asset Allocations | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 11 - Accrued Pension Liabilities (Details) - Plan Asset Allocations [Line Items] | ||
Plan asset allocations | 100.00% | 100.00% |
Other Assets [Member] | ||
Note 11 - Accrued Pension Liabilities (Details) - Plan Asset Allocations [Line Items] | ||
Plan asset allocations | 100.00% | 100.00% |
Note 11 - Accrued Pension Lia72
Note 11 - Accrued Pension Liabilities (Details) - Fair Value of Pension Plan Assets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Note 11 - Accrued Pension Liabilities (Details) - Fair Value of Pension Plan Assets [Line Items] | |||
Pension plan assets | $ 54 | $ 116 | $ 258 |
Other Assets [Member] | |||
Note 11 - Accrued Pension Liabilities (Details) - Fair Value of Pension Plan Assets [Line Items] | |||
Pension plan assets | 54 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Note 11 - Accrued Pension Liabilities (Details) - Fair Value of Pension Plan Assets [Line Items] | |||
Pension plan assets | 54 | ||
Fair Value, Inputs, Level 2 [Member] | Other Assets [Member] | |||
Note 11 - Accrued Pension Liabilities (Details) - Fair Value of Pension Plan Assets [Line Items] | |||
Pension plan assets | $ 54 |
Note 12 - Financial Income, N73
Note 12 - Financial Income, Net (Details) - Components of Financial Income, Net - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Components of Financial Income, Net [Abstract] | |||
Foreign exchange gains | $ 19 | $ 27 | |
Interest income from marketable securities and deposits, net of amortization of premium on marketable securities | 1,391 | 1,391 | $ 1,656 |
Realized gains on marketable securities | 3 | 73 | 1,013 |
Other | 13 | ||
Financial income | 1,413 | 1,491 | 2,682 |
Realized losses on marketable securities | 27 | 12 | 4 |
Foreign exchange losses | 58 | 113 | 86 |
Interest expenses | 12 | 24 | 29 |
Other | 141 | 138 | 106 |
Financial expense | 238 | 287 | 225 |
Financial income, net | $ 1,175 | $ 1,204 | $ 2,457 |
Note 13 - Stockholders' Equit74
Note 13 - Stockholders' Equity (Details) - USD ($) | Dec. 31, 2008 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2009 | Dec. 31, 2011 | Dec. 31, 2015 | Aug. 31, 2015 | Nov. 30, 2013 |
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | |||||||
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 | 50,000,000 | ||||||
Retained Earnings (Accumulated Deficit) (in Dollars) | $ (90,763,000) | $ (85,352,000) | $ (90,763,000) | ||||||
Stock Repurchase Program, Number of Additional Shares Authorized to Be Repurchased | 500,000 | 2,700,000 | |||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 905,040 | 905,040 | 308,000 | ||||||
Stock Repurchase Program, Authorized Amount, Additional (in Dollars) | $ 10,000,000 | ||||||||
Treasury Stock, Shares, Acquired | 1,295,000 | 1,414,000 | 390,000 | ||||||
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share) | $ 10.24 | $ 8.83 | $ 8.95 | ||||||
Treasury Stock, Value, Acquired, Cost Method (in Dollars) | $ 13,269,000 | $ 12,484,000 | $ 3,490,000 | ||||||
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 1,024,000 | 908,000 | 1,066,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 7,233,000 | 7,233,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 179,000 | 232,000 | 524,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,740,000 | 3,740,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 4 years 156 days | 3 years 98 days | 4 years 240 days | ||||||
Allocated Share-based Compensation Expense (in Dollars) | $ 5,092,000 | $ 5,359,000 | $ 4,159,000 | ||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense (in Dollars) | $ 0 | $ 0 | $ 0 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 2,902,000 | 2,902,000 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ 3,061 | $ 3,061 | |||||||
Non Employee Directors [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 8,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 4,000 | ||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 706,000 | 706,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 405,000 | 337,000 | 552,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 1,541,977 | 1,541,977 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ 10.43 | $ 7.94 | $ 6.17 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Weighted Average Pre Vest Cancel Rate | 3.49% | 3.79% | 3.84% | ||||||
Restricted Stock Units (RSUs) [Member] | First Anniversary [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||||
Stock Appreciation Rights (SARs) [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ 3.80 | $ 3.47 | $ 4.90 | ||||||
Stock Appreciation Rights (SARs) [Member] | In the Money [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 1,541,977 | 1,541,977 | |||||||
Common Stock [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Treasury Stock, Shares, Acquired | (1,295,000) | (1,414,000) | (390,000) | ||||||
Treasury Stock, Value, Acquired, Cost Method (in Dollars) | $ 1,000 | $ 1,000 | $ 1,000 | ||||||
Share Price (in Dollars per share) | $ 9.44 | $ 10.87 | $ 9.71 | $ 9.44 | |||||
1993 Director Stock Option Plan [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,980,875 | 1,980,875 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,464,933 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 495,000 | 495,000 | |||||||
1993 Director Stock Option Plan [Member] | First Option [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 30,000 | ||||||||
1993 Director Stock Option Plan [Member] | Committee Option [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 15,000 | ||||||||
1998 Non-officer Employee Stock Option Plan [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 48 months | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,062,881 | 5,062,881 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 35,473 | 35,473 | |||||||
2001 Stock Incentive Plan [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options Grants in Period Exercise Price, Based on Percentage of Fair Market Value of Common Stock | 100.00% | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 48 months | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,194,847 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 10,000 | 10,000 | |||||||
2003 Israeli Share Incentive Plan [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 48 months | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 10,700,543 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 922,595 | 922,595 | |||||||
2012 Equity Incentive Plan [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 48 months | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,450,000 | 2,450,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,027,577 | 1,027,577 | |||||||
1993 Employee Stock Purchase Plan (ESPP) [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options Grants in Period Exercise Price, Based on Percentage of Fair Market Value of Common Stock | 85.00% | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,170,000 | 1,170,000 | |||||||
Employee Stock Purchase Plan, ESPP Shares Reserved For Future Purchase | 4,800,000 | 4,800,000 | |||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 233,000 | 310,000 | 374,000 | ||||||
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased (in Dollars per share) | $ 7.59 | $ 5.55 | $ 4.44 | ||||||
Employee Stock Purchase Plan ESPP Shares Reserved for Future Purchase, Remaining | 1,170,000 | 1,170,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 22.83% | 29.06% | 36.37% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 34.53% | 37.17% | 44.19% | ||||||
Each Quarter After First Anniversary [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 6.25% | ||||||||
Subsequent Option [Member] | 1993 Director Stock Option Plan [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 15,000 | ||||||||
Minimum [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options Grants in Period Exercise Price, Based on Percentage of Fair Market Value of Common Stock | 100.00% | ||||||||
Minimum [Member] | 1993 Employee Stock Purchase Plan (ESPP) [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 6 months | ||||||||
Maximum [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share Based Compensation Arrangement By Share Based Payment Award Number of Shares to Be Issued Upon Exercise of Outstanding Awards | 3,154,626 | 3,154,626 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable, Number | 1,992,668 | 1,992,668 | |||||||
Maximum [Member] | Stock Appreciation Rights (SARs) [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant As Percentage of Company S Outstanding Common Stock | 50.00% | 75.00% | 66.67% | 50.00% | |||||
Maximum [Member] | 1993 Employee Stock Purchase Plan (ESPP) [Member] | |||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 24 months |
Note 13 - Stockholders' Equit75
Note 13 - Stockholders' Equity (Details) - Number of Shares Available for Future Issuance | Dec. 31, 2015shares |
Note 13 - Stockholders' Equity (Details) - Number of Shares Available for Future Issuance [Line Items] | |
Shares available for future issuance | 7,233,000 |
Equity Awards [Member] | |
Note 13 - Stockholders' Equity (Details) - Number of Shares Available for Future Issuance [Line Items] | |
Shares available for future issuance | 1,063,000 |
Preferred Stock [Member] | |
Note 13 - Stockholders' Equity (Details) - Number of Shares Available for Future Issuance [Line Items] | |
Shares available for future issuance | 5,000,000 |
1993 Employee Stock Purchase Plan (ESPP) [Member] | |
Note 13 - Stockholders' Equity (Details) - Number of Shares Available for Future Issuance [Line Items] | |
Shares available for future issuance | 1,170,000 |
Note 13 - Stockholders' Equit76
Note 13 - Stockholders' Equity (Details) - Stock Options, SARs and RSUs Activity - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||||
Note 13 - Stockholders' Equity (Details) - Stock Options, SARs and RSUs Activity [Line Items] | ||||||
Options outstanding at beginning of year | 4,644 | [1],[2],[3] | 6,537 | [1],[2],[3] | 9,622 | |
Options outstanding at beginning of year | $ 6.52 | [1],[2],[3] | $ 8.68 | [1],[2],[3] | $ 10.72 | |
Options outstanding at beginning of year | [1] | |||||
Changes during the year: | ||||||
Options granted | 179 | 232 | 524 | |||
Options granted | $ 11.2 | $ 9.15 | $ 6.42 | |||
Options granted | [1] | |||||
Exercised (4) | [1] | (1,403) | (1,715) | (2,105) | ||
Exercised (4) | [1] | $ 5.68 | $ 7.92 | $ 6.49 | ||
Exercised (4) | [1] | $ 7,302 | $ 3,537 | $ 3,795 | ||
Forfeited and cancelled | (85) | (747) | (2,056) | |||
Forfeited and cancelled | $ 12.21 | $ 20.11 | $ 17.56 | |||
Forfeited and cancelled | [1] | |||||
Options/SARs/RSUs outstanding at end of year (1,2,4) | [1],[2],[3] | 3,740 | 4,644 | 6,537 | ||
Options/SARs/RSUs outstanding at end of year (1,2,4) | [1],[2],[3] | $ 6.22 | $ 6.52 | $ 8.68 | ||
Options/SARs/RSUs outstanding at end of year (1,2,4) | [1],[2],[3] | $ 13,364 | $ 21,409 | $ 16,673 | ||
Options/SARs/RSUs exercisable at end of year (1,3,4) | [1],[3],[4] | 2,552 | 3,106 | 4,623 | ||
Options/SARs/RSUs exercisable at end of year (1,3,4) | [1],[3],[4] | $ 7.47 | $ 7.73 | $ 10.30 | ||
Options/SARs/RSUs exercisable at end of year (1,3,4) | [1],[3],[4] | $ 6,031 | $ 10,941 | $ 7,230 | ||
Restricted Stock Units (RSUs) [Member] | ||||||
Changes during the year: | ||||||
RSUs granted | 405 | 337 | 552 | |||
RSUs granted | [1] | |||||
[1] | 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 $9.71 per share, respectively. The intrinsic value for options, RSUs and SARs exercised during those years represents the difference between the fair market value of the Company's common stock on the date of exercise and the exercise price of each option, RSU or SAR, as applicable. | |||||
[2] | Due to the ceiling imposed on the SAR grants, the outstanding amount above can be exercised for a maximum of 3,154,626 shares of the Company's common stock as of December 31, 2015. | |||||
[3] | SAR grants made prior to January 1, 2009 are convertible for a maximum number of shares of the Company's common stock equal to 50% of the SAR units subject tothe grant. SAR grants made on or after January 1, 2009 and before January 1, 2010 are convertible for a maximum number of shares of the Company's common stockequal to 75% of the SAR units subject to the grant. SAR grants made on or after January 1, 2010 are convertible for a maximum number of shares of the Company's common stock equal to 66.67% of the SAR units subject to the grant. SAR grants made on or after January 1, 2012 are convertible for a maximum number of shares of the Company's common stock equal to 50% of the SAR units subject to the grant. | |||||
[4] | Due to the ceiling imposed on the SAR grants, the exercisable amount above can be exercised for a maximum of 1,992,668 shares of the Company's common stock as of December 31, 2015. |
Note 13 - Stockholders' Equit77
Note 13 - Stockholders' Equity (Details) - Stock Options and SARs Outstanding by Exercise Price Range shares in Thousands | 12 Months Ended | |
Dec. 31, 2015$ / sharesshares | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Outstanding (in Shares) | shares | 3,740 | |
Remaining contractual life | 3 years 98 days | [1] |
Weighted average exercise price | $ 6.22 | |
Exercisable (in Shares) | shares | 2,552 | |
Remaining contractual life | 2 years 277 days | |
Weighted average exercise price | $ 7.47 | |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Outstanding (in Shares) | shares | 706 | |
Range 1 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise price, lower limit | $ 5.21 | |
Range of exercise price, upper limit | $ 7.26 | |
Outstanding (in Shares) | shares | 1,797 | |
Remaining contractual life | 2 years 248 days | [1] |
Weighted average exercise price | $ 6.48 | |
Exercisable (in Shares) | shares | 1,625 | |
Remaining contractual life | 2 years 186 days | |
Weighted average exercise price | $ 6.51 | |
Range 2 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise price, lower limit | 7.49 | |
Range of exercise price, upper limit | $ 9.71 | |
Outstanding (in Shares) | shares | 958 | |
Remaining contractual life | 3 years 317 days | [1] |
Weighted average exercise price | $ 8.04 | |
Exercisable (in Shares) | shares | 827 | |
Remaining contractual life | 3 years 164 days | |
Weighted average exercise price | $ 7.93 | |
Range 3 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise price, lower limit | 10.87 | |
Range of exercise price, upper limit | $ 15.79 | |
Outstanding (in Shares) | shares | 219 | |
Remaining contractual life | 6 years 76 days | [1] |
Weighted average exercise price | $ 11.54 | |
Exercisable (in Shares) | shares | 40 | |
Remaining contractual life | 1 year 350 days | |
Weighted average exercise price | $ 13.10 | |
Range 4 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise price, lower limit | 21.07 | |
Range of exercise price, upper limit | $ 25.06 | |
Outstanding (in Shares) | shares | 60 | |
Remaining contractual life | 6 months | [1] |
Weighted average exercise price | $ 23.38 | |
Exercisable (in Shares) | shares | 60 | |
Remaining contractual life | 6 months | |
Weighted average exercise price | $ 23.38 | |
[1] | Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term. |
Note 13 - Stockholders' Equit78
Note 13 - Stockholders' Equity (Details) - Weighted Average Fair Value Assumptions | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Weighted Average Fair Value Assumptions [Abstract] | ||||
Volatility | 49.04% | 43.14% | 46.24% | |
Risk-free interest rate | 1.96% | 1.85% | 1.39% | |
Dividend yield | 0.00% | 0.00% | 0.00% | |
Pre-vest cancellation rate *) | [1] | 3.95% | 4.17% | 3.48% |
Post-vest cancellation rate **) | [2] | 3.86% | 4.09% | 2.52% |
Suboptimal exercise factor ***) | [3] | 1.46% | 1.61% | 1.81% |
Expected life (years) | 4 years 156 days | 3 years 98 days | 4 years 240 days | |
[1] | The pre-vest cancellation rate was calculated on an annual basis and is presented here on an annual basis. | |||
[2] | The post-vest cancellation rate was calculated on a monthly basis and is presented here on an annual basis. | |||
[3] | The ratio of the stock price to strike price at the time of exercise of the option. |
Note 13 - Stockholders' Equit79
Note 13 - Stockholders' Equity (Details) - Non-vested Stock Options, SARs and RSUs shares in Thousands | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Non-vested Stock Options, SARs and RSUs [Abstract] | |
Non-vested at January 1, 2015 | shares | 1,538 |
Non-vested at January 1, 2015 | $ / shares | $ 5.01 |
Granted | shares | 584 |
Granted | $ / shares | $ 8.38 |
Vested | shares | (910) |
Vested | $ / shares | $ 6 |
Forfeited | shares | (24) |
Forfeited | $ / shares | $ 4.68 |
Non-vested at December 31, 2015 | shares | 1,188 |
Non-vested at December 31, 2015 | $ / shares | $ 6.90 |
Note 14 - Commitments and Con80
Note 14 - Commitments and Contingencies (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 14 - Commitments and Contingencies (Details) [Line Items] | |||
Operating Leases, Rent Expense | $ 2,252 | $ 2,298 | $ 2,389 |
Isreaeli Office of the Chief Scientist Royalties [Member] | |||
Note 14 - Commitments and Contingencies (Details) [Line Items] | |||
Loss Contingency Accrual | $ 7,880 |
Note 14 - Commitments and Con81
Note 14 - Commitments and Contingencies (Details) - Minimum Lease Payments $ in Thousands | Dec. 31, 2015USD ($) |
Minimum Lease Payments [Abstract] | |
2,016 | $ 2,684 |
2,017 | 1,835 |
2,018 | 1,614 |
2019 and thereafter | 145 |
$ 6,278 |
Note 15 - Taxes On Income (Deta
Note 15 - Taxes On Income (Details) - USD ($) | Jan. 04, 2016 | Jan. 03, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2015 | |
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Current Foreign Tax Expense (Benefit) | [1] | $ 1,081,000 | $ (1,672,000) | $ 507,000 | |||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (827,000) | ||||||||
Income Tax Expense (Benefit) | 327,000 | (2,841,000) | (150,000) | ||||||
Operating Loss Carryforwards, Expired | 207,405,000 | ||||||||
Deferred Tax Assets, Valuation Allowance | 7,577,000 | 33,115,000 | $ 7,577,000 | ||||||
Cash and Cash Equivalents, Marketable Securities, and Time Deposit | 121,700,000 | ||||||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1,711,000 | 1,031,000 | 1,711,000 | ||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 180,000 | 135,000 | 180,000 | ||||||
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | 858,000 | 284,000 | |||||||
Dividend Tax Rate | 20.00% | ||||||||
Non Qualified Stock Options [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Income Tax Expense (Benefit) | $ 0 | 0 | $ 0 | ||||||
Finalization of Tax Assessment [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Income Tax Expense (Benefit) | (858,000) | ||||||||
Valuation Allowance, Tax Credit Carryforward [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Current Foreign Tax Expense (Benefit) | (1,234,000) | ||||||||
Israel Tax Authority [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Current Foreign Tax Expense (Benefit) | $ (858,000) | ||||||||
Operating Loss Carryforwards, Expired | $ 207,405,000 | ||||||||
Percentage of Export Sales to Get Tax Benefit | 25.00% | ||||||||
Corporate Tax Rate | 25.00% | 26.50% | 26.50% | 26.50% | 25.00% | ||||
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount | $ 33,293,000 | ||||||||
Income Tax, Net Liabilities | 3,699,000 | 3,699,000 | |||||||
Operating Loss Carryforwards | $ 18,837,000 | $ 18,837,000 | |||||||
Capital Loss Carryforward, Expiration Period | 7 years | ||||||||
Israel Tax Authority [Member] | Approved Enterprise [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Tax Exemption Period | 2 years | ||||||||
Corporate Tax Rate | 10.00% | ||||||||
Additional Tax Exemption Period | 8 years | ||||||||
Israel Tax Authority [Member] | Beneficiary Enterprise [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Tax Exemption Period | 4 years | ||||||||
Corporate Tax Rate | 25.00% | ||||||||
Additional Tax Exemption Period | 6 years | ||||||||
Israel Tax Authority [Member] | Seventh and Eighth Investment Programs [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Tax Exemption Period | 2 years | ||||||||
Additional Tax Exemption Period | 8 years | ||||||||
Israel Tax Authority [Member] | Preferred Enterprises [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Corporate Tax Rate | 12.50% | 15.00% | 15.00% | 16.00% | |||||
Swiss Federal Tax Administration (FTA) [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Operating Loss Carryforwards | $ 4,279,000 | $ 4,279,000 | |||||||
Domestic Tax Authority [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Operating Loss Carryforwards | 12,110,000 | 12,110,000 | |||||||
State and Local Jurisdiction [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Operating Loss Carryforwards | 2,432,000 | 2,432,000 | |||||||
Investment held by Foreign Entities [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Cash and Cash Equivalents, Marketable Securities, and Time Deposit | $ 107,800,000 | $ 107,800,000 | |||||||
Minimum [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Tax Credit Carryforward, Expiration Period | 15 years | ||||||||
Minimum [Member] | Israel Tax Authority [Member] | First, Second, Third, Fourth, Fifth and Sixth Investment Programs [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Tax Exemption Period | 2 years | ||||||||
Corporate Tax Rate | 10.00% | ||||||||
Additional Tax Exemption Period | 6 years | ||||||||
Minimum [Member] | Israel Tax Authority [Member] | Seventh and Eighth Investment Programs [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Corporate Tax Rate | 10.00% | ||||||||
Maximum [Member] | Israel Tax Authority [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Tax Credit Carryforward, Expiration Period | 20 years | ||||||||
Maximum [Member] | Israel Tax Authority [Member] | First, Second, Third, Fourth, Fifth and Sixth Investment Programs [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Tax Exemption Period | 4 years | ||||||||
Corporate Tax Rate | 25.00% | ||||||||
Additional Tax Exemption Period | 8 years | ||||||||
Maximum [Member] | Israel Tax Authority [Member] | Seventh and Eighth Investment Programs [Member] | |||||||||
Note 15 - Taxes On Income (Details) [Line Items] | |||||||||
Corporate Tax Rate | 25.00% | ||||||||
[1] | Includes for 2014 (i) income in the amount of $858 due to reversal of income tax contingency reserves that were determined to be no longer needed due to finalization of a tax assessment of one of the Company's subsidiaries and (ii) income in the amount of $1,234 due to removal of valuation allowance of tax advances. |
Note 15 - Taxes On Income (De83
Note 15 - Taxes On Income (Details) - Provision for Income Taxes - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Federal taxes: | ||||
Current | $ (271) | |||
State taxes: | ||||
Current | $ 2 | $ 2 | (9) | |
Foreign taxes: | ||||
Current (1) | [1] | 1,081 | (1,672) | 507 |
Deferred (2) | [2] | (756) | (1,170) | (377) |
Domestic taxes | 325 | (2,842) | 130 | |
Tax expenses (income) tax benefit | $ 327 | $ (2,841) | $ (150) | |
[1] | Includes for 2014 (i) income in the amount of $858 due to reversal of income tax contingency reserves that were determined to be no longer needed due to finalization of a tax assessment of one of the Company's subsidiaries and (ii) income in the amount of $1,234 due to removal of valuation allowance of tax advances. | |||
[2] | Includes for 2014 income tax benefit in the amount of $827 due to elimination of valuation allowance of deferred tax assets. |
Note 15 - Taxes On Income (De84
Note 15 - Taxes On Income (Details) - Income (Loss) Before Taxes - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income (Loss) Before Taxes [Abstract] | |||
Domestic | $ (909) | $ (3,497) | $ (3,525) |
Foreign | 2,798 | 4,258 | 6,051 |
$ 1,889 | $ 761 | $ 2,526 |
Note 15 - Taxes On Income (De85
Note 15 - Taxes On Income (Details) - Income Tax Reconciliation - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Reconciliation [Abstract] | |||
Income (loss) before taxes on income | $ 1,889 | $ 761 | $ 2,526 |
Theoretical tax at U.S. statutory tax rate (35%) | 661 | 266 | 884 |
State taxes, net of federal benefit | 2 | 2 | 2 |
Foreign income taxed at rates other than the U.S. rate (including deferred taxes that were not provided, valuation allowance and current adjustment and interest on uncertain tax position liability) | (2,209) | (5,974) | (3,015) |
Nondeductible equity-based compensation expenses | 1,782 | 1,876 | 1,456 |
Current adjustment and interest on uncertain tax position liability in U.S. | (283) | ||
Valuation allowance in U.S. | 91 | 989 | 804 |
Other | 1 | 2 | |
$ 327 | $ (2,841) | $ (150) |
Note 15 - Taxes On Income (De86
Note 15 - Taxes On Income (Details) - Income Tax Reconciliation (Parentheticals) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Reconciliation [Abstract] | |||
U.S. statutory tax rate | 35.00% | 35.00% | 35.00% |
Note 15 - Taxes On Income (De87
Note 15 - Taxes On Income (Details) - Deferred Tax Assets and Liabilities - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Deferred tax assets (short-term): | |||
Reserves and accruals | $ 149 | ||
Carryforward tax losses | 626 | ||
Total deferred tax assets (short-term) | 775 | ||
Total | 775 | ||
Deferred tax assets (long-term): | |||
Reserves and accruals | $ 1,823 | 1,669 | |
Equity-based compensation | 462 | 2,761 | |
Intangible assets | 805 | 1,198 | |
Carryforward tax losses | 5,798 | [1] | 27,621 |
Other | 15 | ||
Total deferred tax assets (long-term) | 8,888 | 33,264 | |
Valuation allowance | (7,577) | (33,115) | |
Total | 1,311 | 149 | |
Total deferred tax assets | 1,311 | 924 | |
Deferred tax liabilities, net (Long term): | |||
Acquired intangible assets | 963 | 1,360 | |
Acquired carryforward tax losses | (487) | (515) | |
Total deferred tax liabilities, net | $ 476 | $ 845 | |
[1] | The amount in 2015 is after a deduction of $207,405 carryforward tax losses of a foreign subsidiary that expired by December 31, 2015. |
Note 15 - Taxes On Income (De88
Note 15 - Taxes On Income (Details) - Uncertain Tax Positions - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Uncertain Tax Positions [Abstract] | |||
Gross unrecognized tax benefits at January 1 | $ 1,031 | $ 1,892 | |
Increases in tax positions for previous years | 177 | 115 | |
Increases in tax positions for current year | 533 | 71 | |
Change in interest and linkage related to tax positions | (30) | (85) | |
Lapse in statute of limitations or finalization of tax assessment | (858) | $ (284) | |
Gross unrecognized tax benefits at December 31 | $ 1,711 | $ 1,031 | $ 1,892 |
Note 16 - Basic and Diluted L89
Note 16 - Basic and Diluted Loss Per Share (Details) - Net Income (Loss) Per Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Numerator: | |||
Net income (in Dollars) | $ 1,562 | $ 3,602 | $ 2,676 |
Denominator: | |||
Weighted average number of shares of common stock outstanding during the year used to compute basic net earnings per share (in thousands) | 21,924 | 21,968 | 22,249 |
Incremental shares attributable to exercise of outstanding options, SARs and RSUs (assuming proceeds would be used to purchase treasury stock) (in thousands) | 1,416 | 986 | 657 |
Weighted average number of shares of common stock used to compute diluted net earnings per share (in thousands) | 23,340 | 22,954 | 22,906 |
Basic net earnings per share (in Dollars per share) | $ 0.07 | $ 0.16 | $ 0.12 |
Diluted net earnings per share (in Dollars per share) | $ 0.07 | $ 0.16 | $ 0.12 |
Note 17 - Segment Information90
Note 17 - Segment Information (Details) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 17 - Segment Information (Details) [Line Items] | |||
Number of Reportable Segments | 3 | ||
Telephony [Member] | Sales Revenue, Segment [Member] | Product Concentration Risk [Member] | Home [Member] | |||
Note 17 - Segment Information (Details) [Line Items] | |||
Concentration Risk, Percentage | 72.00% | 79.00% | 85.00% |
Gateway [Member] | Sales Revenue, Segment [Member] | Product Concentration Risk [Member] | Home [Member] | |||
Note 17 - Segment Information (Details) [Line Items] | |||
Concentration Risk, Percentage | 10.00% | 8.00% | 6.00% |
VoIP [Member] | Sales Revenue, Segment [Member] | Product Concentration Risk [Member] | Office [Member] | |||
Note 17 - Segment Information (Details) [Line Items] | |||
Concentration Risk, Percentage | 15.00% | 10.00% | 6.00% |
Note 17 - Segment Information91
Note 17 - Segment Information (Details) - Selected Operating Results - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | |||
Revenue | $ 144,271 | $ 143,036 | $ 151,063 |
Income (loss) from operations | 9,646 | 8,650 | 9,671 |
Home [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | 121,714 | 128,690 | 142,144 |
Income (loss) from operations | 24,815 | 23,438 | 25,367 |
Office [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | 22,216 | 14,276 | 8,849 |
Income (loss) from operations | (4,861) | (2,805) | (4,656) |
Mobile [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | 341 | 70 | 70 |
Income (loss) from operations | $ (10,308) | $ (11,983) | $ (11,040) |
Note 17 - Segment Information92
Note 17 - Segment Information (Details) - Reconciliation of Segment Operating Results - USD ($) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Reconciliation of Segment Operating Results [Abstract] | ||||
Income from operations | $ 9,646,000 | $ 8,650,000 | $ 9,671,000 | |
Unallocated corporate, general and administrative expenses * | [1] | (2,156,000) | (2,161,000) | (2,368,000) |
Proxy contest related expenses | (1,403,000) | |||
Equity-based compensation expenses | (5,092,000) | (5,359,000) | (4,159,000) | |
Intangible assets amortization expenses | (1,284,000) | (1,573,000) | (1,672,000) | |
Write–off of expired option related to investment in other company | (400,000) | 0 | ||
Financial income, net | 1,175,000 | 1,204,000 | 2,457,000 | |
Total consolidated income before taxes | $ 1,889,000 | $ 761,000 | $ 2,526,000 | |
[1] | Includes mainly legal, accounting, board of directors and investors relation expenses. |
Note 17 - Segment Information93
Note 17 - Segment Information (Details) - Summary of Operations Within Geographic Areas Based On Customer Locations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenue distribution | |||
Revenue distribution | $ 144,271 | $ 143,036 | $ 151,063 |
HONG KONG | |||
Revenue distribution | |||
Revenue distribution | 72,608 | 79,622 | 86,090 |
JAPAN | |||
Revenue distribution | |||
Revenue distribution | 26,114 | 31,261 | 34,377 |
Europe [Member] | |||
Revenue distribution | |||
Revenue distribution | 8,464 | 6,787 | 7,370 |
UNITED STATES | |||
Revenue distribution | |||
Revenue distribution | 3,944 | 4,702 | 4,342 |
CHINA | |||
Revenue distribution | |||
Revenue distribution | 10,359 | 6,568 | 6,999 |
TAIWAN, PROVINCE OF CHINA | |||
Revenue distribution | |||
Revenue distribution | 16,902 | 9,077 | 7,093 |
Other Geographic Regions [Member] | |||
Revenue distribution | |||
Revenue distribution | $ 5,880 | $ 5,019 | $ 4,792 |
Note 17 - Segment Information94
Note 17 - Segment Information (Details) - Summary of Long-lived Assets Within Geographic Areas Based On the Assets' Locations - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Long-lived assets | ||
Long-lived assets | $ 3,764 | $ 2,843 |
Europe [Member] | ||
Long-lived assets | ||
Long-lived assets | 259 | 188 |
ISRAEL | ||
Long-lived assets | ||
Long-lived assets | 2,989 | 2,264 |
Other Geographic Regions [Member] | ||
Long-lived assets | ||
Long-lived assets | $ 516 | $ 391 |