Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 28, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Registrant Name | 'IMAGE SENSING SYSTEMS INC | ' | ' |
Entity Central Index Key | '0000943034 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 4,974,847 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $22,081,730 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 |
ASSETS | ' | ' |
Cash and cash equivalents | $8,334 | $3,564 |
Marketable securities | 4,817 | 2,639 |
Accounts receivable, net of allowance for doubtful accounts of $1,173 and $796 | 6,722 | 5,252 |
Inventories | 4,485 | 3,589 |
Prepaid expenses and other current assets | 1,611 | 1,414 |
Deferred income taxes | 186 | ' |
Total current assets | 26,155 | 16,458 |
Property and equipment: | ' | ' |
Furniture and fixtures | 461 | 620 |
Leasehold improvements | 471 | 511 |
Equipment | 4,427 | 3,988 |
Property and equipment, gross | 5,359 | 5,119 |
Accumulated depreciation | 3,484 | 4,094 |
Property and equipment, net | 1,875 | 1,025 |
Deferred income taxes | 4,017 | 139 |
Intangible assets, net | 6,489 | 6,463 |
Other assets | ' | 300 |
TOTAL ASSETS | 38,536 | 24,385 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ' | ' |
Accounts payable | 2,112 | 2,409 |
Accrued compensation | 949 | 1,202 |
Warranty and other current liabilities | 1,086 | 1,959 |
Total current liabilities | 4,147 | 5,570 |
Deferred income taxes | 241 | 175 |
Other long-term liabilities | 168 | 126 |
Shareholders': | ' | ' |
Common stock, $.01 par value; 20,000,000 shares authorized, 4,974,847 and 4,966,619 | 49 | 49 |
Additional paid-in capital | 23,055 | 23,276 |
Accumulated other comprehensive income | 390 | 604 |
Retained earnings | 10,486 | -5,415 |
Total shareholders' equity | 33,980 | 18,514 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $38,536 | $24,385 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Accounts receivable, allowance for doubtful accounts | $1,173 | $796 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | ' |
Common stock, shares authorized | 20,000,000 | ' |
Common stock, shares issued | ' | 4,966,619 |
Common stock, shares outstanding | ' | 4,966,619 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue: | ' | ' | ' |
Product sales | $14,692 | $12,564 | $17,475 |
Royalties | 11,598 | 12,399 | 13,046 |
Total revenue | 26,290 | 24,963 | 30,521 |
Cost of revenue: | ' | ' | ' |
Product sales | 9,889 | 6,706 | 8,769 |
Restructuring | ' | ' | 448 |
Total cost of revenue | 9,889 | 6,706 | 9,217 |
Gross profit | 16,401 | 18,257 | 21,304 |
Operating expenses: | ' | ' | ' |
Selling, marketing and product support | 11,768 | 7,289 | 10,609 |
General and administrative | 6,290 | 5,167 | 6,315 |
Research and development | 5,036 | 4,135 | 4,424 |
Investigation matter | 3,723 | ' | ' |
Amortization of intangible assets | 1,554 | 1,622 | 1,650 |
Restructuring | ' | 430 | 287 |
Goodwill impairment | ' | 3,175 | 11,685 |
Acquisition related income | ' | ' | -618 |
Total operating expenses | 28,371 | 21,818 | 34,352 |
Loss from operations | -11,970 | -3,561 | -13,048 |
Other income, net | 6 | 29 | 9 |
Loss before income taxes | -11,964 | -3,532 | -13,039 |
Income tax expense (benefit) | 3,937 | -180 | -3,022 |
Net loss | ($15,901) | ($3,352) | ($10,017) |
Net loss per share: | ' | ' | ' |
Basic | ($3.21) | ($0.69) | ($2.07) |
Diluted | ($3.21) | ($0.69) | ($2.07) |
Weighted average number of common shares outstanding: | ' | ' | ' |
Basic | 4,955 | 4,886 | 4,834 |
Diluted | 4,955 | 4,886 | 4,834 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements Of Comprehensive Loss [Abstract] | ' | ' | ' |
Loss before income taxes | ($15,901) | ($3,352) | ($10,017) |
Other comprehensive Income: | ' | ' | ' |
Foreign currency translation adjustment | 214 | 570 | -232 |
Comprehensive loss | ($15,687) | ($2,782) | ($10,249) |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities: | ' | ' | ' |
Net loss | ($15,901) | ($3,352) | ($10,017) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 673 | 727 | 548 |
Amortization | 1,554 | 1,622 | 1,650 |
Tax benefit from disqualifying dispositions | ' | 71 | 37 |
Stock-based compensation | 213 | 244 | 412 |
Goodwill impairment | ' | 3,175 | 11,685 |
Deferred income tax expense (benefit) | 4,085 | -402 | -3,620 |
Acquisition related income | ' | ' | -618 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accounts receivable, net | 1,470 | 2,777 | -11 |
Inventories | 896 | 1,657 | -1,493 |
Prepaid expenses and current assets | 197 | 33 | 496 |
Accounts payable | 297 | 114 | -96 |
Accrued liabilities | 999 | -727 | -284 |
Net cash provided by (used for) operating activities | -5,517 | 5,939 | -1,311 |
Investing activities: | ' | ' | ' |
Purchases of marketable securities | -5,507 | -10,027 | -7,340 |
Sales and maturities of marketable securities | 7,685 | 7,303 | 9,201 |
Purchase of other investments | -300 | ' | ' |
Capitalized software development costs | -867 | ' | ' |
Purchases of property and equipment | -221 | -487 | -859 |
Payments of earn-outs | ' | ' | -2,361 |
Net cash provided by (used for) investing activities | 790 | -3,211 | -1,359 |
Financing activities: | ' | ' | ' |
Proceeds from exercise of stock options | 9 | 121 | 105 |
Net cash provided by financing activities | 9 | 121 | 105 |
Effect of exchange rate changes on cash | -52 | 261 | -232 |
Increase (decrease) in cash and cash equivalents | -4,770 | 3,110 | -2,797 |
Cash and cash equivalents at beginning of period | 8,334 | 5,224 | 8,021 |
Cash and cash equivalents at end of period | $3,564 | $8,334 | $5,224 |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Common Stock [Member] | Additional Paid In Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Total |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2010 | $49 | $22,065 | $52 | $23,855 | $46,021 |
Balance, shares at Dec. 31, 2010 | 4,878,519 | ' | ' | ' | ' |
Tax benefit from disqualifying disposition | ' | 37 | ' | ' | 37 |
Common stock issued for options exercised | ' | 105 | ' | ' | 105 |
Common stock issued for options | 32,100 | ' | ' | ' | ' |
Stock-based compensation | ' | 412 | ' | ' | 412 |
Foreign currency translation adjustment | ' | ' | -232 | ' | -232 |
Net loss | ' | ' | ' | -10,017 | -10,017 |
Comprehensive loss | ' | ' | ' | ' | -10,249 |
Balance at Dec. 31, 2011 | 49 | 22,619 | -180 | 13,838 | 36,326 |
Balance, shares at Dec. 31, 2011 | 4,910,619 | ' | ' | ' | ' |
Tax benefit from disqualifying disposition | ' | 71 | ' | ' | 71 |
Common stock issued for options exercised | ' | 121 | ' | ' | 121 |
Common stock issued for options | 56,000 | ' | ' | ' | 4,966,619 |
Stock-based compensation | ' | 244 | ' | ' | 244 |
Foreign currency translation adjustment | ' | ' | 570 | ' | 570 |
Net loss | ' | ' | ' | -3,352 | -3,352 |
Comprehensive loss | ' | ' | ' | ' | -2,782 |
Balance at Dec. 31, 2012 | 49 | 23,055 | 390 | 10,486 | 33,980 |
Balance, shares at Dec. 31, 2012 | 4,966,619 | ' | ' | ' | ' |
Stock awards issued, value | ' | 75 | ' | ' | 75 |
Stock awards issued, shares | 13,395 | ' | ' | ' | ' |
Common stock issued for options exercised | ' | 8 | ' | ' | 8 |
Common stock issued for options | 2,333 | ' | ' | ' | ' |
Acquisition-related shares surrendered, shares | -7,500 | ' | ' | ' | ' |
Stock-based compensation | ' | 138 | ' | ' | 138 |
Foreign currency translation adjustment | ' | ' | 214 | ' | 214 |
Net loss | ' | ' | ' | -15,901 | -15,901 |
Comprehensive loss | ' | ' | ' | ' | -15,687 |
Balance at Dec. 31, 2013 | $49 | $23,276 | $604 | ($5,415) | $18,514 |
Balance, shares at Dec. 31, 2013 | 4,974,847 | ' | ' | ' | ' |
DESCRIPTION_OF_BUSINESS_AND_SI
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2013 | |
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | ' |
Notes to Consolidated Financial Statements | |
31-Dec-13 | |
1.DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | |
DESCRIPTION OF BUSINESS | |
Image Sensing Systems, Inc. (referred to herein as “we,” the “Company,” “us” and “our”) develops and markets software‑based computer enabled detection products for use in traffic, safety, security, police and parking applications. We sell our products primarily to distributors and also receive royalties under a license agreement with a manufacturer/distributor for certain of our products. Our products are used primarily by governmental entities. | |
PRINCIPLES OF CONSOLIDATION | |
The Consolidated Financial Statements include the accounts of Image Sensing Systems, Inc. and its wholly‑owned subsidiaries: Image Sensing Systems HK Limited (ISS HK) located in Hong Kong; Image Sensing Systems (Shenzhen) Limited (ISS WOFE) and Image Sensing Systems HK Limited Shenzhen Representative Office located in China; Image Sensing Systems Holdings Limited (ISS Holdings), Image Sensing Systems Europe Limited (ISS Europe), Image Sensing Systems UK Limited (ISS UK) and Image Sensing Systems England (ISS England) located in the United Kingdom; Image Sensing Systems Europe Limited SP.Z.O.O., (ISS Poland) located in Poland; Image Sensing Systems Spain SLU (ISS Spain) located in Spain; and ISS Image Sensing Systems Canada Limited (ISS Canada) and ISS Canada Sales Corp. (ISS Sales) located in Canada. All significant inter‑company transactions and balances have been eliminated in consolidation. | |
REVENUE RECOGNITION | |
We recognize revenue on a sales arrangement when it is realized or realizable and earned, which occurs when all of the following criteria have been met: persuasive evidence of an arrangement exists; delivery and title transfer has occurred or services have been rendered; the sales price is fixed and determinable; collectability is reasonably assured; and all significant obligations to the customer have been fulfilled. | |
Certain sales may contain multiple elements for revenue recognition purposes. We consider each deliverable that provides value to the customer on a standalone basis as a separable element. Separable elements in these arrangements may include the hardware, software, installation services, training and support. We initially allocate consideration to each separable element using the relative selling price method. Selling prices are determined by us based on either vendor‑specific objective evidence (“VSOE”) (the actual selling prices of similar products and services sold on a standalone basis) or, in the absence of VSOE, our best estimate of the selling price. Factors considered by us in determining estimated selling prices for applicable elements generally include overall economic conditions, customer demand, costs incurred by us to provide the deliverable, as well as our historical pricing practices. Under these arrangements, revenue associated with each delivered element is recognized in an amount equal to the lesser of the consideration initially allocated to the delivered element or the amount for which payment is not deemed contingent upon future delivery of other elements in the arrangement. Under arrangements where special acceptance protocols exist, installation services and training may not be considered separable. Under those circumstances, revenue for the entire arrangement is recognized upon the completion of installation, training and fulfillment of any other significant obligations specific to the terms of the arrangement. Arrangements that do not contain any separable elements are typically recognized when the products are shipped and title has transferred to the customer. | |
Revenue from arrangements for services such as maintenance, repair, consulting and technical support are recognized either as the service is performed or ratably over the defined contractual period for service maintenance contracts. | |
Econolite Control Products, Inc. (Econolite) is our licensee that sells certain of our products in North America, the Caribbean and Latin America. The royalty of approximately 50% of the gross profit on licensed products is recognized when the products are shipped or delivered by Econolite to its customers. | |
We record provisions against sales revenue for estimated returns and allowances in the period when the related revenue is recorded based on historical sales returns and changes in end user demand. | |
Revenue is recorded net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. | |
SHIPPING AND HANDLING | |
Freight revenue billed to customers is reported within revenue on the Consolidated Statements of Operations, and expenses incurred for shipping products to customers are reported within cost of revenue on the Consolidated Statements of Operations. | |
CASH AND CASH EQUIVALENTS | |
We consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash equivalents, both inside and outside the United States, are invested in money market funds and bank deposits in local currency denominations. Cash located in foreign banks was $1.8 million and $2.6 million at December 31, 2013 and 2012, respectively. We hold our cash and cash equivalents with financial institutions and, at times, the amounts of our balances may be in excess of insurance limits. | |
MARKETABLE SECURITIES | |
We classify marketable debt securities as available‑for‑sale investments and these securities are stated at their estimated fair value. The value of these securities is subject to market and credit volatility during the period these investments are held. | |
ACCOUNTS RECEIVABLE | |
We grant credit to customers in the normal course of business and generally do not require collateral from domestic customers. When deemed appropriate, receivables from customers outside the United States are supported by letters of credit from financial institutions. Management performs on‑going credit evaluations of customers. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts and includes consideration of the credit worthiness and financial condition of those specific customers. We record an allowance to reduce receivables to the amount that is reasonably believed to be collectible and consider factors such as the financial condition of the customer and the aging of the receivables. If there is a deterioration of a customer’s financial condition, if we become aware of additional information related to the credit worthiness of a customer, or if future actual default rates on trade receivables in general differ from those currently anticipated, we may have to adjust our allowance for doubtful accounts, which would affect earnings in the period the adjustments were made. | |
INVENTORIES | |
Inventories are primarily electronic components and finished goods and are valued at the lower of cost or market determined under the first‑in, first‑out accounting method. | |
PROPERTY AND EQUIPMENT | |
Property and equipment is stated at cost. Additions, replacements, and improvements are capitalized at cost, while maintenance and repairs are charged to operations as incurred. Depreciation is recorded using the straight‑line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of the estimated useful lives of the assets or the contractual term of the lease, with consideration of lease renewal options if renewal appears probable. Depreciation is recorded over a three‑ to seven‑year period for financial reporting purposes and by accelerated methods for income tax purposes. | |
INCOME TAXES | |
We record a tax provision for the anticipated tax consequences of the reported results of operations. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those deferred tax assets and liabilities are expected to be realized or settled. We record a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. We believe it is more likely than not that forecasted income, including income that may be generated as a result of certain tax planning strategies, together with the tax effects of the deferred tax liabilities, will be sufficient to fully recover the remaining net realizable value of deferred tax assets. In the event that all or part of the net deferred tax assets are determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to earnings in the period such determination is made. In addition, the calculation of tax liabilities involves significant judgment in estimating the impact of uncertainties in the application of complex tax laws. Resolution of these uncertainties in a manner inconsistent with management’s expectations could have a material impact on our financial condition and operating results. We recognize penalties and interest expense related to unrecognized tax benefits in income tax expense. | |
GOODWILL AND INTANGIBLE ASSETS | |
Goodwill represents the excess of acquisition costs over the fair value of the net assets of businesses acquired. Goodwill is not amortized, but instead tested at least annually for impairment. Goodwill is also tested for impairment as changes in circumstances occur indicating that the carrying value may not be recoverable. | |
Goodwill impairment testing first requires a comparison of the fair value of each reporting unit to the carrying value. If the carrying value of the reporting unit exceeds fair value, goodwill is considered impaired. Impairment testing for indefinite‑lived intangible assets requires a comparison between the fair value and the carrying value of the asset. If the carrying value of the asset exceeds its fair value, the asset is reduced to fair value. See Note 5 to the Consolidated Financial Statements for additional information on goodwill. | |
Intangible assets with finite lives are amortized on a straight‑line basis over the expected period to be benefited by future cash flows and reviewed for impairment. At both December 31, 2013 and 2012, we determined there was no impairment of intangible assets. At both December 31, 2013 and 2012, there were no indefinite‑lived intangible assets. | |
We capitalize certain software development costs related to software to be sold, leased, or otherwise marketed. Capitalized software development costs include purchased materials and services and other costs associated with the development of new products and services. Software development costs are expensed as incurred until technological feasibility has been established, at which time future costs incurred are capitalized until the product is available for general release to the public. Based on our product development process, technological feasibility is generally established once product and detailed program designs have been completed, uncertainties related to high-risk development issues have been resolved through coding and testing, and we have established that the necessary skills, hardware, and software technology are available for production of the product. Once a software product is available for general release to the public, capitalized development costs associated with that product will begin to be amortized to cost of sales over the product’s estimated economic life, using the greater of straight-line or a method that results in cost recognition in future periods that is consistent with the anticipated timing of product revenue recognition. | |
Our capitalized software development costs are subject to an ongoing assessment of recoverability, which is impacted by estimates and assumptions of future revenues and expenses for these software products, as well as other factors such as changes in product technologies. Any portion of unamortized capitalized software development costs that are determined to be in excess of net realizable value will be expensed in the period in which such a determination is made. We reached technological feasibility for certain software products and, as a result, capitalized $867,000 of software development costs during the year ended December 31, 2013. Once the software products are available for release, the capitalized development costs will begin to be amortized to cost of sales over the products’ estimated economic life using the greater of straight-line or a method that results in cost recognition in future periods that is consistent with the anticipated time of product revenue recognition. | |
IMPAIRMENT OF LONG‑LIVED ASSETS | |
We review the carrying value of long‑lived assets or asset groups, such as property and equipment and intangibles subject to amortization, when events or changes in circumstances such as asset utilization, physical change, legal factors, or other matters indicate that the carrying value may not be recoverable. When this review indicates the carrying value of an asset or asset group exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group, we recognize an asset impairment charge against operations. The amount of the impairment loss recorded is the amount by which the carrying value of the impaired asset or asset group exceeds its fair value. No such impairment losses were recorded during the years ended December 31, 2013, 2012 or 2011. | |
RESEARCH AND DEVELOPMENT | |
Research and development costs associated with new products are charged to operations in the period incurred. | |
WARRANTIES | |
We generally provide a standard two‑year warranty on product sales. We record estimated warranty costs at the time of sale and accrue for specific items at the time that their existence is known and the amounts are determinable. We estimate warranty costs using standard quantitative measures based on historical warranty claim experience and an evaluation of specific customer warranty issues. In addition, warranty provisions are also recognized for certain nonrecurring product claims that are individually significant. | |
FOREIGN CURRENCY | |
The financial position and results of operations of our foreign subsidiaries are measured using local currency as the functional currency. Assets and liabilities are translated using fiscal period‑end exchange rates, and statements of operations are translated using average exchange rates applicable to each period, with the resulting translation adjustments recorded as a separate component of shareholders’ equity under “Accumulated other comprehensive income (loss)”. Gains and losses from foreign currency transactions are recognized in the Consolidated Statements of Operations. | |
NET LOSS PER SHARE | |
Basic loss per share excludes dilution and is computed by dividing net loss attributable to common shareholders by the weighted‑average number of common shares outstanding during the period. Diluted loss per share includes potentially dilutive common shares consisting of stock options, restricted stock and warrants using the treasury stock method. Under the treasury stock method, shares associated with certain stock options have been excluded from the diluted weighted average shares outstanding calculation because the exercise of those options would lead to a net reduction in common shares outstanding. As a result, stock options to acquire 348,000, 481,000 and 404,000 weighted common shares have been excluded from the diluted weighted shares outstanding calculation for the years ended December 31, 2013, 2012 and 2011, respectively, because the exercise prices were greater than the average market price of the common shares during the period and were excluded from the calculation of diluted net income per share. | |
USE OF ESTIMATES | |
The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and reported amounts of revenue and expense during the reporting period. Predicting future events is inherently an imprecise activity and, as such, requires the use of judgment. Ultimate results could differ from those estimates. Changes in these estimates will be reflected in the financial statements in future periods. | |
STOCK‑BASED COMPENSATION | |
We measure the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant and recognize the cost over the period during which an employee is required to provide services in exchange for the award. Stock options are granted at exercise prices equal to the closing market price of our stock on the date of grant. | |
For purposes of determining estimated fair value of stock‑based payment awards, we utilize a Black‑Scholes option pricing model, which requires the input of certain assumptions requiring management judgment. Because our employee stock option awards have characteristics significantly different from those of traded options, and because changes in the input assumptions can materially affect fair value estimates, existing models may not provide a reliable single measure of the fair value of employee stock options. Management will continue to assess the assumptions and methodologies used to calculate estimated fair value of stock‑based compensation. Circumstances may change and additional data may become available over time that could result in changes to these assumptions and methodologies and thereby materially impact the fair value determination of future grants of stock‑based payment awards. If factors change and we employ different assumptions in future periods, the compensation expense recorded may differ significantly from the stock‑based compensation expense recorded in the current period. | |
Fair_Value_Measurements_And_Ma
Fair Value Measurements And Marketable Securities | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Fair Value Measurements And Marketable Securities [Abstract] | ' | |||||||||||
Fair Value Measurements And Marketable Securities | ' | |||||||||||
2.FAIR VALUE MEASUREMENTS AND MARKETABLE SECURITIES | ||||||||||||
The guidance for fair value measurements establishes the authoritative definition of fair value, sets out a framework for measuring fair value and outlines the required disclosures regarding fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We use a three‑tier fair value hierarchy based upon observable and non‑observable inputs as follows: | ||||||||||||
•Level 1 – observable inputs such as quoted prices in active markets; | ||||||||||||
•Level 2 – inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and | ||||||||||||
•Level 3 – unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. | ||||||||||||
Assets and Liabilities that are Measured at Fair Value on a Recurring Basis | ||||||||||||
The fair value hierarchy requires the use of observable market data when available. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. | ||||||||||||
Investments are comprised of high‑grade municipal bonds, U.S. government securities and commercial paper and are classified as Level 1 or Level 2, depending on trading frequency and volume and our ability to obtain pricing information on an ongoing basis. | ||||||||||||
The amortized cost and market value of our available‑for‑sale securities by major security type were as follows (in thousands): | ||||||||||||
31-Dec-13 | ||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||
Bank certificates of deposit | $ | — | $ | 2,639 | $ | — | $ | 2,639 | ||||
$ | — | $ | 2,639 | $ | — | $ | 2,639 | |||||
31-Dec-12 | ||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||
Bank certificates of deposit | $ | — | $ | 2,524 | $ | — | $ | 2,524 | ||||
U.S. government obligations | 880 | 504 | — | 1,384 | ||||||||
Corporate obligations | 453 | — | — | 453 | ||||||||
State and municipal bonds | — | 456 | — | 456 | ||||||||
$ | 1,333 | $ | 3,484 | $ | — | $ | 4,817 | |||||
We evaluate impairment at each reporting period for securities where the fair value of the investment is less than its cost. Unrealized gains and losses on our available-for-sale investments are primarily attributable to general changes in interest rates and market conditions. We do not believe the unrealized losses represent other-than-temporary impairments based on our evaluation of available evidence as of December 31, 2013. The aggregate unrealized gain or loss on available-for-sale investments was immaterial as of December 31, 2013 and 2012. | ||||||||||||
Classification of available‑for‑sale investments as current or noncurrent is dependent upon our intended holding period, the security’s maturity date, or both. Contractual maturities were less than one year for all available‑for‑sale investments as of December 31, 2013. There were no available‑for‑sale investments with gross unrealized losses that had been in a continuous unrealized loss position for more than 12 months as of December 31, 2013 and 2012. | ||||||||||||
Proceeds from maturities or sales of available‑for‑sale securities were $7.7 million, $7.3 million and $9.2 million during the years ended December 31, 2013, 2012 and 2011, respectively. Realized gains and losses are determined using the specific identification method. Realized gains and losses related to sales of available‑for‑sale investments during the years ended December 31, 2013, 2012 and 2011 were immaterial and included in other income. | ||||||||||||
Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis | ||||||||||||
Our intangible assets and other long‑lived assets are nonfinancial assets that were acquired either as part of a business combination, individually or with a group of other assets. These nonfinancial assets were initially, and have historically been, measured and recognized at amounts equal to the fair value determined as of the date of acquisition. | ||||||||||||
Periodically, these nonfinancial assets are tested for impairment by comparing their respective carrying values to the estimated fair value of the reporting unit or asset group in which they reside. In the quarters ended June 30, 2012 and September 30, 2011, certain of these nonfinancial assets were deemed to be impaired (see Note 4), and we recognized an impairment loss equal to the amount by which the carrying value of each reporting unit exceeded their estimated fair value. Fair value measurements of the reporting units were estimated using certain Level 3 inputs requiring management judgment, including projections of economic conditions and customer demand, revenue and margins, changes in competition, operating costs, working capital requirements, and new product introductions. | ||||||||||||
Financial Instruments not Measured at Fair Value | ||||||||||||
Certain of our financial instruments are not measured at fair value and are recorded at carrying amounts approximating fair value, based on their short‑term nature or variable interest rate. These financial instruments include cash and cash equivalents, accounts receivable, accounts payable and other current assets and liabilities. | ||||||||||||
Inventories
Inventories | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Inventories [Abstract] | ' | |||||
Inventories | ' | |||||
3.INVENTORIES | ||||||
Inventories consisted of the following (in thousands): | ||||||
December 31, | ||||||
2013 | 2012 | |||||
Components | $ | 2,797 | $ | 3,001 | ||
Finished goods | 792 | 1,484 | ||||
$ | 3,589 | $ | 4,485 | |||
Goodwill_And_Intangible_Assets
Goodwill And Intangible Assets | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Intangible Assets [Abstract] | ' | ||||||||||
Intangible Assets | ' | ||||||||||
4.GOODWILL AND INTANGIBLE ASSETS | |||||||||||
We apply a fair value based impairment test to the carrying value of goodwill for each reporting unit on an annual basis and on an interim basis if certain events or circumstances indicate that an impairment loss may have occurred. In the second quarter of 2012 and the third quarter of 2011, we experienced a significant and sustained decline in our stock price. The decline resulted in our market capitalization falling significantly below the recorded value of our consolidated net assets. As a result, we concluded a triggering event had occurred and performed an impairment test of goodwill for each reporting unit at that time. | |||||||||||
Based on the results of our initial assessment of impairment of our goodwill (step 1), we determined that the carrying value of each reporting unit exceeded its estimated fair value. Therefore, we performed the second step of the impairment assessment to determine the implied fair value of goodwill. In performing the goodwill assessment, we used current market capitalization, discounted cash flows and other factors as the best evidence of fair value. | |||||||||||
We recorded $3.2 million of goodwill impairment charges in the second quarter of 2012 and $11.7 million of goodwill impairment charges in the third quarter of 2011. | |||||||||||
Intangible Assets | |||||||||||
Because the intangible assets related to the ISS Europe acquisition are accounted for in Great Britain Pounds, they are impacted by period‑end rates of exchange to United States Dollars and therefore varied in different reporting periods. | |||||||||||
Intangible assets consisted of the following (dollars in thousands): | |||||||||||
31-Dec-13 | |||||||||||
Weighted | |||||||||||
Gross | Net | Average | |||||||||
Carrying | Accumulated | Carrying | Useful Life | ||||||||
Amount | Amortization | Value | (in Years) | ||||||||
Developed technology | $ | 8,152 | $ | -4,587 | $ | 3,566 | 3.6 | ||||
Trade names | 3,267 | -2,110 | 1,157 | 4.5 | |||||||
Other intangible costs | 1,874 | -1,001 | 873 | 3.1 | |||||||
Software development costs | 867 | — | 867 | 3.0 | |||||||
Total | $ | 14,160 | $ | -7,698 | $ | 6,463 | 3.5 | ||||
31-Dec-12 | |||||||||||
Weighted | |||||||||||
Gross | Net | Average | |||||||||
Carrying | Accumulated | Carrying | Useful Life | ||||||||
Amount | Amortization | Value | (in Years) | ||||||||
Developed technology | $ | 7,490 | $ | -3,480 | $ | 4,010 | 4.6 | ||||
Trade names | 3,267 | -1,853 | 1,414 | 5.8 | |||||||
Other intangible assets | 1,840 | -775 | 1,065 | 5.2 | |||||||
Total | $ | 12,597 | $ | -6,108 | $ | 6,489 | 4.9 | ||||
The estimated future amortization expense related to other intangible assets for the next five fiscal years is as follows (dollars in thousands): | |||||||||||
Amortization | |||||||||||
Expense | |||||||||||
2014 | $ | 1,841 | |||||||||
2015 | 1,811 | ||||||||||
2016 | 1,136 | ||||||||||
2017 | 846 | ||||||||||
2018 | 624 | ||||||||||
Future amortization amounts presented above are estimates. Actual future amortization expense may be different due to future acquisitions, impairments, changes in amortization periods, or other factors. | |||||||||||
In connection with the triggering events discussed above, we reviewed our long‑lived assets and determined that none of the long‑lived assets were impaired for our asset groups. The determination was based on reviewing estimated undiscounted cash flows for our asset groups, which were greater than their carrying values. As required under GAAP, this impairment analysis occurred before the goodwill impairment assessment. | |||||||||||
The evaluation of the recoverability of long‑lived assets requires us to make significant estimates and assumptions. These estimates and assumptions primarily include, but are not limited to, the identification of the asset group at the lowest level of independent cash flows and the primary asset of the group; and long‑range forecasts of revenue, reflecting management’s assessment of general economic and industry conditions, operating income, depreciation and amortization and working capital requirements. | |||||||||||
Credit_Facilities
Credit Facilities | 12 Months Ended |
Dec. 31, 2013 | |
Credit Facilities [Abstract] | ' |
Credit Facilities | ' |
5.CREDIT FACILITIES | |
We have a revolving line of credit with Associated Bank, National Association (“Associated Bank”), that was initially entered into as of May 1, 2008. Our current revolving line of credit agreement (“Credit Agreement”) with Associated Bank provides up to $5.0 million of credit. The Credit Agreement expires in May 2014 and bears interest at an annual rate equal to the greater of (a) 4.5% or (b) LIBOR plus 2.75%. Any advances are secured by inventories, accounts receivable and equipment. We are subject to certain financial covenants under the Credit Agreement, including minimum debt service coverage ratios, minimum cash flow coverage ratios and financial measures. At December 31, 2013, we had no borrowings under the Credit Agreement, and we were in compliance with all financial covenants. | |
Warranties
Warranties | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Warranties [Abstract] | ' | |||||
Warranties | ' | |||||
6.WARRANTIES | ||||||
Warranty liability and related activity consisted of the following (in thousands): | ||||||
Years ended December 31, | ||||||
2013 | 2012 | |||||
Beginning balance | $ | 520 | $ | 423 | ||
Warranty provisions | 209 | 234 | ||||
Warranty claims | -297 | -233 | ||||
Adjustments to preexisting warranties | 502 | 96 | ||||
Ending balance | $ | 934 | $ | 520 | ||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Income taxes | ' | ||||||||
7.INCOME TAXES | |||||||||
The components of loss before income taxes were as follows (in thousands): | |||||||||
Years ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Loss before income taxes | |||||||||
Domestic | $ | -9,041 | $ | -136 | $ | -6,761 | |||
Foreign | -2,923 | -3,396 | -6,278 | ||||||
Total | $ | -11,964 | $ | -3,532 | $ | -13,039 | |||
The components of income tax expense (benefit) are as follows (in thousands): | |||||||||
Years ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Current: | |||||||||
Federal | $ | -234 | $ | -48 | $ | 279 | |||
State | -3 | -1 | 4 | ||||||
Foreign | 153 | 90 | 315 | ||||||
Total | $ | -84 | $ | 41 | $ | 598 | |||
Deferred: | |||||||||
Federal | $ | 4,130 | $ | -31 | $ | -2,358 | |||
State | 61 | — | -35 | ||||||
Foreign | -170 | -190 | -1,227 | ||||||
4,021 | -221 | -3,620 | |||||||
Total | $ | 3,937 | $ | -180 | $ | -3,022 | |||
A reconciliation from the federal statutory income tax provision to our effective tax expense (benefit) is as follows (in thousands): | |||||||||
Years ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
United States federal tax statutory rate | $ | -3,976 | $ | -1,201 | $ | -4,433 | |||
State taxes, net of federal benefit | -51 | 3 | -36 | ||||||
Valuation allowances against deferred tax assets | 7,890 | 90 | 121 | ||||||
Research and development tax credits | -252 | -135 | -412 | ||||||
Foreign provision different than U.S. tax rate | 391 | 545 | 641 | ||||||
Stock option expense | 28 | -27 | 82 | ||||||
Adjustment of prior year tax credits and refunds | -63 | 69 | 50 | ||||||
Goodwill impairment | - | 417 | 1,299 | ||||||
Uncertain tax positions | -8 | -19 | -138 | ||||||
Other | -22 | 78 | -196 | ||||||
Total | $ | 3,937 | $ | -180 | $ | -3,022 | |||
A summary of the deferred tax assets and liabilities is as follows (in thousands): | |||||||||
Years ended December 31, | |||||||||
2013 | 2012 | ||||||||
Current deferred tax assets (liabilities): | |||||||||
Accrued compensation and benefits | $ | 66 | $ | 42 | |||||
Prepaid expenses and other | -88 | -31 | |||||||
Inventory reserves | 240 | 21 | |||||||
Allowance for doubtful accounts | 237 | 115 | |||||||
Warranty reserves | 162 | 39 | |||||||
Total current deferred tax asset: | 617 | 186 | |||||||
Non-current deferred tax assets: | |||||||||
Intangible and other assets | 3,525 | 3,617 | |||||||
Foreign net operating loss carryforwards | 3,320 | 280 | |||||||
Non-qualified stock option expense | 47 | 63 | |||||||
Property, equipment and other | 147 | 96 | |||||||
Research and development credit | 378 | - | |||||||
Non-current deferred tax asset: | 7,417 | 4,056 | |||||||
Less: valuation allowance | -8,156 | -280 | |||||||
Non-current deferred tax asset (liability): | -739 | 3,776 | |||||||
Total net deferred tax asset (liability) | $ | -122 | $ | 3,962 | |||||
As of December 31, 2013, certain of our subsidiaries in the United States, United Kingdom, Hong Kong and Canada had net operating loss carryovers of $6,797,000, $3,864,000, $798,000 and $195,000 respectively. We determined that the benefits of the net operating loss carryovers for the United States, United Kingdom and Hong Kong are uncertain. Accordingly, as of December 31, 2013, we had a full valuation allowance against those deferred tax assets in the amount of $8,156,000. | |||||||||
In accordance with Accounting Standards Codification (“ASC”) 740‑30, we have not recognized a deferred tax liability for the undistributed earnings of certain of our foreign operations because those subsidiaries have invested or will invest the undistributed earnings indefinitely. At December 31, 2013, undistributed earnings were approximately $1,418,000. It is impractical for us to determine the amount of unrecognized deferred tax liabilities on these indefinitely reinvested earnings. Deferred taxes are recorded for earnings of foreign operations when we determine that such earnings are no longer indefinitely reinvested. | |||||||||
We realize an income tax benefit from the exercise or early disposition of certain stock options. This benefit results in a decrease in current income taxes payable and an increase in additional paid-in capital. | |||||||||
A reconciliation of the beginning and ending amount of the tax liability for uncertain tax positions is as follows (in thousands): | |||||||||
Balance at December 31, 2011 | $ | 36 | |||||||
Additions for current year tax positions | - | ||||||||
Reductions as a result of lapses in statute of limitations | -18 | ||||||||
Balance at December 31, 2012 | $ | 18 | |||||||
Additions for current year tax positions | - | ||||||||
Reductions as a result of lapses in statute of limitations | -10 | ||||||||
Balance at December 31, 2013 | $ | 8 | |||||||
Included in the balance of uncertain tax positions at December 31, 2013 are immaterial potential benefits that, if recognized, would affect the effective tax rate. The amount of unrecognized tax benefits are not expected to change materially within the next 12 months. At December 31, 2013 and 2012, we had no accrued interest related to uncertain income tax positions. At December 31, 2013 and 2012, no accrual for penalties related to uncertain tax positions existed. Interest and penalties related to uncertain tax positions are included in interest expense and general and administrative expense, respectively, on our Consolidated Statements of Operations. | |||||||||
We are subject to income taxes in the U.S. federal jurisdiction and various state and foreign jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and require significant judgment to apply. Generally, we are subject to U.S. federal, state, local and foreign tax examinations by taxing authorities for years after the fiscal year ended December 31, 2009. | |||||||||
At December 31, 2013 and 2012, domestic and certain of our foreign subsidiaries were expected to receive income tax refunds within the next fiscal year. As a result, at December 31, 2013 and 2012, we recognized a current income tax receivable of $244,000 and $452,000, respectively, which is included in Prepaid Expenses and Other Current Assets on our Consolidated Balance Sheets. | |||||||||
Licensing
Licensing | 12 Months Ended |
Dec. 31, 2013 | |
Licensing [Abstract] | ' |
Licensing | ' |
8.LICENSING | |
We have licensed the exclusive right to manufacture and market the Autoscope® video and Autoscope® radar technology in North America, the Caribbean and Latin America to Econolite, and we receive royalties from Econolite on sales of systems in those territories as well as in non‑exclusive territories as allowed from time to time. We may terminate our agreement with Econolite if a minimum annual sales level is not met or if Econolite fails to make royalty payments as required by the agreement. The agreement’s term runs to 2031, unless terminated by either party upon three years’ notice. | |
We recognized royalty income from this agreement of $11.6 million, $12.4 million and $13.0 million in 2013, 2012 and 2011, respectively. | |
Significant_Customers_And_Conc
Significant Customers And Concentration Of Credit Risk | 12 Months Ended |
Dec. 31, 2013 | |
Significant Customers And Concentration Of Credit Risk [Abstract] | ' |
Significant Customers and Concentration of Credit Risk | ' |
9.SIGNIFICANT CUSTOMERS AND CONCENTRATION OF CREDIT RISK | |
Royalty income from Econolite comprised 44%, 50% and 43% of revenue in the years ended December 31, 2013, 2012 and 2011, respectively. Accounts receivable from Econolite were $1.6 million and $2.6 million at December 31, 2013 and 2012, respectively. Major disruptions in the manufacturing and distribution of our products by Econolite or the inability of Econolite to make payments on its accounts receivable with us could have a material adverse effect on our business, financial condition and results of operations. Econolite was the only customer that comprised more than 10% of accounts receivable as of December 31, 2013. During the period from April 2011 through August 2012, the Chief Executive Officer of the parent company of Econolite served on our Board of Directors. | |
Retirement
Retirement | 12 Months Ended |
Dec. 31, 2013 | |
Retirement Savings Plans [Abstract] | ' |
Retirement Savings Plan | ' |
10.RETIREMENT SAVINGS PLANS | |
Substantially all of our employees in the United States are eligible to participate in a qualified defined contribution 401(k) plan. Participants may elect to have a specified portion of their salary contributed to the plan, and we may make discretionary contributions to the plan. ISS HK and ISS UK are obligated to contribute to certain employee pension plans. We made contributions totaling $128,000, $132,000 and $170,000 to the plans for 2013, 2012 and 2011, respectively. | |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Stockholders' Equity [Abstract] | ' | ||||||||||||||
Shareholders' Equity | ' | ||||||||||||||
11.SHAREHOLDERS’ EQUITY | |||||||||||||||
Stock‑Based Compensation | |||||||||||||||
We compensate officers, directors, and employees with stock‑based compensation under two stock plans approved by the Company’s shareholders in 2006 and 2011 and administered under the supervision of our Board of Directors. In February 1995 and April 2005, we adopted the 1995 Long‑Term Incentive and Stock Option Plan (the 1995 Plan) and the 2005 Stock Incentive Plan (the 2005 Plan), respectively, which provide for the granting of incentive (ISO) and non‑qualified (NQO) stock options, stock appreciation rights, restricted stock awards and performance awards to our officers, directors, employees, consultants and independent contractors. The 1995 Plan terminated in February 2005, although options granted under the 1995 Plan remain outstanding according to their terms. Options granted under the plans generally vest over three to five years and have a contractual term of six to 10 years. At December 31, 2013, a total of 205,750 shares were available for future grant under the 2005 Plan. Shares will be available for issuance under the 2005 Plan until May 17, 2015. | |||||||||||||||
The following table summarizes stock option activity for 2013, 2012 and 2011: | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Shares | WAEP* | Shares | WAEP* | Shares | WAEP* | ||||||||||
Options outstanding at beginning of year | 398,893 | $ | 7.95 | 535,333 | $ | 9.58 | 463,433 | $ | 9.11 | ||||||
Granted | 86,000 | $ | 6.82 | 159,750 | $ | 5.12 | 156,000 | $ | 10.21 | ||||||
Exercised | -2,333 | $ | 3.65 | -56,000 | $ | 2.17 | -32,100 | $ | 3.29 | ||||||
Expired | -4,000 | $ | 9.00 | -16,000 | $ | 15.00 | -12,000 | $ | 15.70 | ||||||
Forfeited | -138,810 | $ | 10.28 | -224,190 | $ | 10.74 | -40,000 | $ | 9.79 | ||||||
Options outstanding at end of year | 339,750 | $ | 6.73 | 398,893 | $ | 7.95 | 535,333 | $ | 9.58 | ||||||
Options eligible for exercise at year-end | 130,688 | $ | 7.71 | 160,143 | $ | 9.84 | 249,333 | $ | 8.81 | ||||||
________________________________ | |||||||||||||||
*Weighted Average Exercise Price | |||||||||||||||
Options outstanding at December 31, 2013 had a weighted average remaining contractual term of 6.9 years and an aggregate intrinsic value of approximately $9,000. Options eligible for exercise at December 31, 2013 had a weighted average remaining contractual term of 5.0 years and an aggregate intrinsic value of $2,250. | |||||||||||||||
The total intrinsic value of stock options exercised during the fiscal years ended December 31, 2013, 2012 and 2011 was $4,000, $208,000 and $211,000, respectively. | |||||||||||||||
The fair value of stock options granted under stock‑based compensation programs has been estimated as of the date of each grant using the multiple option form of the Black‑Scholes valuation model, based on the grant price and assumptions regarding the expected grant life, stock price volatility, dividends, and risk‑free interest rates. Each vesting period of an option award is valued separately, with this value being recognized evenly over the vesting period. The weighted average per share grant date fair value of options to purchase 86,000, 159,750 and 156,000 shares granted for the years ended December 31, 2013, 2012 and 2011 was $3.53, $1.82 and $3.35, respectively. The weighted average assumptions used to determine the fair value of stock options granted during those fiscal years were as follows: | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Expected life (in years) | 5.0 | 4.8 | 3.1 | ||||||||||||
Risk-free interest rate | 1.52 | % | 0.72 | % | 1.47 | % | |||||||||
Expected volatility | 60 | % | 42 | % | 44 | % | |||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | |||||||||
The expected life represents the period that the stock option awards are expected to be outstanding and was determined based on historical and anticipated future exercise and expiration patterns. The risk‑free interest rate used is based on the yield of constant maturity U.S. Treasury bonds on the grant date with a remaining term equal to the expected life of the grant. We estimate stock price volatility based on a historical weekly price observation. The dividend yield assumption is based on the annualized current dividend divided by the share price on the grant date. We have not historically paid any cash dividends and do not expect to do so in the foreseeable future. | |||||||||||||||
Other information pertaining to options for the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Cash received from the exercise of options | $ | 8,500 | $ | 121,000 | $ | 105,000 | |||||||||
Stock-based compensation expense recognized | |||||||||||||||
within general and administrative expense on | |||||||||||||||
the consolidated statements of operations | 213,000 | 244,000 | 412,000 | ||||||||||||
Excess income tax benefits from exercise of stock options | - | 71,000 | 37,000 | ||||||||||||
Stock Awards | |||||||||||||||
We issue stock awards as a portion of the annual retainer for each director on a quarterly basis. The stock awards are fully vested at the time of issuance. Compensation expense related to stock awards is determined on the grant date based on the publicly quoted fair market value of our common stock and is charged to earnings on the grant date. During the quarter ended December 31, 2013, there were stock awards issued for 3,645 shares with a weighted-average grant date fair value of $5.14. For the year ended December 31, 2013, there were stock awards issued for 13,395 shares with a weighted-average grant date fair value of $5.60. | |||||||||||||||
Restructuring
Restructuring | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Restructuring [Abstract] | ' | ||||||||
Restructuring | ' | ||||||||
12.RESTRUCTURING | |||||||||
In the fourth quarter of 2011 and second quarter of 2012, we implemented restructuring plans to improve our financial performance. As a result of these actions, we recorded restructuring charges within all reportable segments that were comprised of termination benefits, facility closure costs and inventory charges. In 2012, approximately $430,000 was recorded in operating expenses in the Consolidated Statement of Operations, as a result of these restructuring plans and, in 2011, approximately $448,000 was recorded in cost of revenue and $287,000 was recorded in operating expenses. | |||||||||
The following table shows the restructuring activity for 2012 (in thousands): | |||||||||
Termination Benefits | Facility Costs and Contract Termination | Inventory Charges | Total | ||||||
Balance at January 1, 2011 | $- | $- | $- | $- | |||||
Charges | 208 | 101 | 426 | 735 | |||||
Settlements | -45 | -36 | -42 | -123 | |||||
Balance at December 31, 2011 | $ | $ | $ | $ | |||||
163 | 65 | 384 | 612 | ||||||
Charges | 359 | 71 | -- | 430 | |||||
Settlements | -522 | -136 | -384 | -1,042 | |||||
Balance at December 31, 2012 | $-- | $-- | $-- | $-- | |||||
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Information [Abstract] | ' | ||||||||||||
Segment Information | ' | ||||||||||||
13.SEGMENT INFORMATION | |||||||||||||
The Company’s Chief Executive Officer and management regularly review financial information for the Company’s three discrete operating segments. Based on similarities in the economic characteristics, nature of products and services, production processes, type or class of customer served, method of distribution and regulatory environments, the operating segments have been aggregated for financial statement purposes and categorized into three reportable segments: Intersection, Highway and License Plate Recognition (“LPR”). Autoscope® video is our machine‑vision product line, and revenue consists of royalties (all of which are received from Econolite), as well as a portion of international product sales. Video products are normally sold in the Intersection segment. The Autoscope® radar is our radar product line, and revenue consists of royalties (all of which are received from Econolite), as well as a portion of international sales. Radar products are normally sold in the Highway segment. Autoscope license plate recognition is our LPR product line. All segment revenues are derived from external customers. | |||||||||||||
Operating expenses and total assets are not allocated to the segments for internal reporting purposes. Due to the changes in how we manage our business, we may reevaluate our segment definitions in the future. | |||||||||||||
The following tables set forth selected unaudited financial information for each of our reportable segments (in thousands): | |||||||||||||
For the year ended December 31, 2013 | |||||||||||||
Intersection | Highway | LPR | Total | ||||||||||
Revenue | $ | 13,428 | $ | 6,414 | $ | 6,448 | $ | 26,290 | |||||
Gross profit | 11,559 | 1,862 | 2,980 | 16,401 | |||||||||
Amortization of intangible assets | — | 488 | 1,066 | 1,554 | |||||||||
Intangible assets | — | 942 | 5,521 | 6,463 | |||||||||
For the year ended December 31, 2012 | |||||||||||||
Intersection | Highway | LPR | Total | ||||||||||
Revenue | $ | 16,031 | $ | 4,118 | $ | 4,814 | $ | 24,963 | |||||
Gross profit | 14,010 | 1,798 | 2,449 | 18,257 | |||||||||
Goodwill impairment | — | 1,372 | 1,803 | 3,175 | |||||||||
Amortization of intangible assets | — | 748 | 874 | 1,622 | |||||||||
Intangible assets | — | 1,430 | 5,059 | 6,489 | |||||||||
For the year ended December 31, 2011 | |||||||||||||
Intersection | Highway | LPR | Total | ||||||||||
Revenue | $ | 17,445 | $ | 7,366 | $ | 5,710 | $ | 30,521 | |||||
Gross profit | 15,096 | 3,512 | 2,696 | 21,304 | |||||||||
Goodwill impairment | 525 | 7,392 | 3,768 | 11,685 | |||||||||
Amortization of intangible assets | — | 768 | 882 | 1,650 | |||||||||
Intangible assets and goodwill | — | 3,551 | 7,457 | 11,008 | |||||||||
We derived the following percentages of our net revenues from the following geographic regions: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Asia Pacific | 10% | 11% | 4% | ||||||||||
Europe | 41% | 35% | 31% | ||||||||||
North America | 49% | 54% | 65% | ||||||||||
No countries other than the United States and the United Kingdom had revenue in excess of 10% of our total revenue during any periods presented. The aggregate net book value of long‑lived assets held outside of the United States, not including intangible assets, was $323,000 and $1.2 million at December 31, 2013 and 2012, respectively. | |||||||||||||
Other_Assets
Other Assets | 12 Months Ended |
Dec. 31, 2013 | |
Other Assets [Abstract] | ' |
Other Assets | ' |
14.OTHER ASSETS | |
In January 2013, we acquired a minority interest in the shares of common stock of Municipal Parking Services, Inc. (MPS) for an aggregate purchase price of $300,000. The investment is accounted for under the cost method and is included in Other Assets on our consolidated balance sheets. In April 2013, the Chief Executive Officer of MPS was appointed to our Board of Directors. | |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies [Abstract] | ' | ||||
Commitments And Contingencies | ' | ||||
15.COMMITMENTS AND CONTINGENCIES | |||||
Operating Leases | |||||
We rent office space and equipment under operating lease agreements expiring at various dates through January 2016. Rent expense for office facilities was $946,000 in 2013, $947,000 in 2012 and $1.1 million in 2011. Minimum annual rental commitments under noncancelable operating leases are as follows (in thousands): | |||||
Future Lease | |||||
Payments | |||||
2014 | $ | 398 | |||
2015 | 83 | ||||
2016 | 2 | ||||
Litigation | |||||
We are involved from time to time in various legal proceedings arising in the ordinary course of our business, including primarily commercial, product liability, employment and intellectual property claims. In accordance with generally accepted accounting principles in the United States, we record a liability in our Consolidated Financial Statements with respect to any of these matters when it is both probable that a liability has been incurred and the amount of the liability can be reasonably estimated. With respect to currently pending legal proceedings, we have not established an estimated range of reasonably possible additional losses either because we believe that we have valid defenses to claims asserted against us or the proceeding has not advanced to a stage of discovery that would enable us to establish an estimate. We currently do not expect the outcome of these matters to have a material effect on our consolidated results of operations, financial position or cash flows. Litigation, however, is inherently unpredictable, and it is possible that the ultimate outcome of one or more claims asserted against us could adversely impact our results of operations, financial position or cash flows. We expense legal costs as incurred. | |||||
Investigation Matter | |||||
As previously disclosed, Polish authorities are conducting an investigation into violations of Polish law related to tenders in the City of Łodź, Poland. In December 2012, the regional prosecutor charged two employees of Image Sensing Systems Europe Limited SP.Z.O.O., our Polish subsidiary (“ISS Poland”), with, among other things, criminal violations of Polish tender and corruption law related to a project in Łodź. Neither the Company nor any of our subsidiaries has been charged with any offense. A Special Subcommittee of our Audit Committee comprised solely of independent directors has retained independent counsel and accounting advisors to conduct an investigation focusing on possible violations of Company policy, internal controls, and laws, including the Foreign Corrupt Practices Act, the U.K. Anti-Bribery Act and Polish law. This investigation is ongoing, and we have voluntarily disclosed this matter to the Securities and Exchange Commission and the Department of Justice. | |||||
We are cooperating with the Polish prosecutor and intend to cooperate with any other governmental investigation into these matters. We have taken remedial actions, including ending the employment of the two Polish employees, and we are assessing and implementing enhancements to our internal policies, procedures and controls. We cannot predict the outcome of this matter at this time or whether it will have a material adverse impact on our business prospects, financial condition, operating results or cash flows. | |||||
DESCRIPTION_OF_BUSINESS_AND_SI1
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Policy) | 12 Months Ended |
Dec. 31, 2013 | |
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
DESCRIPTION OF BUSINESS | ' |
DESCRIPTION OF BUSINESS | |
Image Sensing Systems, Inc. (referred to herein as “we,” the “Company,” “us” and “our”) develops and markets software‑based computer enabled detection products for use in traffic, safety, security, police and parking applications. We sell our products primarily to distributors and also receive royalties under a license agreement with a manufacturer/distributor for certain of our products. Our products are used primarily by governmental entities. | |
Principles Of Consolidation | ' |
PRINCIPLES OF CONSOLIDATION | |
Revenue Recognition | ' |
REVENUE RECOGNITION | |
We recognize revenue on a sales arrangement when it is realized or realizable and earned, which occurs when all of the following criteria have been met: persuasive evidence of an arrangement exists; delivery and title transfer has occurred or services have been rendered; the sales price is fixed and determinable; collectability is reasonably assured; and all significant obligations to the customer have been fulfilled. | |
Certain sales may contain multiple elements for revenue recognition purposes. We consider each deliverable that provides value to the customer on a standalone basis as a separable element. Separable elements in these arrangements may include the hardware, software, installation services, training and support. We initially allocate consideration to each separable element using the relative selling price method. Selling prices are determined by us based on either vendor‑specific objective evidence (“VSOE”) (the actual selling prices of similar products and services sold on a standalone basis) or, in the absence of VSOE, our best estimate of the selling price. Factors considered by us in determining estimated selling prices for applicable elements generally include overall economic conditions, customer demand, costs incurred by us to provide the deliverable, as well as our historical pricing practices. Under these arrangements, revenue associated with each delivered element is recognized in an amount equal to the lesser of the consideration initially allocated to the delivered element or the amount for which payment is not deemed contingent upon future delivery of other elements in the arrangement. Under arrangements where special acceptance protocols exist, installation services and training may not be considered separable. Under those circumstances, revenue for the entire arrangement is recognized upon the completion of installation, training and fulfillment of any other significant obligations specific to the terms of the arrangement. Arrangements that do not contain any separable elements are typically recognized when the products are shipped and title has transferred to the customer. | |
Revenue from arrangements for services such as maintenance, repair, consulting and technical support are recognized either as the service is performed or ratably over the defined contractual period for service maintenance contracts. | |
Econolite Control Products, Inc. (Econolite) is our licensee that sells certain of our products in North America, the Caribbean and Latin America. The royalty of approximately 50% of the gross profit on licensed products is recognized when the products are shipped or delivered by Econolite to its customers. | |
We record provisions against sales revenue for estimated returns and allowances in the period when the related revenue is recorded based on historical sales returns and changes in end user demand. | |
Revenue is recorded net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. | |
Shipping And Handling | ' |
SHIPPING AND HANDLING | |
Freight revenue billed to customers is reported within revenue on the Consolidated Statements of Operations, and expenses incurred for shipping products to customers are reported within cost of revenue on the Consolidated Statements of Operations. | |
Cash And Cash Equivalents | ' |
CASH AND CASH EQUIVALENTS | |
We consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash equivalents, both inside and outside the United States, are invested in money market funds and bank deposits in local currency denominations. Cash located in foreign banks was $1.8 million and $2.6 million at December 31, 2013 and 2012, respectively. We hold our cash and cash equivalents with financial institutions and, at times, the amounts of our balances may be in excess of insurance limits. | |
Marketable Securities | ' |
MARKETABLE SECURITIES | |
We classify marketable debt securities as available‑for‑sale investments and these securities are stated at their estimated fair value. The value of these securities is subject to market and credit volatility during the period these investments are held. | |
Accounts Receivable | ' |
ACCOUNTS RECEIVABLE | |
We grant credit to customers in the normal course of business and generally do not require collateral from domestic customers. When deemed appropriate, receivables from customers outside the United States are supported by letters of credit from financial institutions. Management performs on‑going credit evaluations of customers. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts and includes consideration of the credit worthiness and financial condition of those specific customers. We record an allowance to reduce receivables to the amount that is reasonably believed to be collectible and consider factors such as the financial condition of the customer and the aging of the receivables. If there is a deterioration of a customer’s financial condition, if we become aware of additional information related to the credit worthiness of a customer, or if future actual default rates on trade receivables in general differ from those currently anticipated, we may have to adjust our allowance for doubtful accounts, which would affect earnings in the period the adjustments were made. | |
Inventories | ' |
INVENTORIES | |
Inventories are primarily electronic components and finished goods and are valued at the lower of cost or market determined under the first‑in, first‑out accounting method. | |
Property And Equipment | ' |
PROPERTY AND EQUIPMENT | |
Property and equipment is stated at cost. Additions, replacements, and improvements are capitalized at cost, while maintenance and repairs are charged to operations as incurred. Depreciation is recorded using the straight‑line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of the estimated useful lives of the assets or the contractual term of the lease, with consideration of lease renewal options if renewal appears probable. Depreciation is recorded over a three‑ to seven‑year period for financial reporting purposes and by accelerated methods for income tax purposes. | |
Income Taxes | ' |
INCOME TAXES | |
We record a tax provision for the anticipated tax consequences of the reported results of operations. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those deferred tax assets and liabilities are expected to be realized or settled. We record a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. We believe it is more likely than not that forecasted income, including income that may be generated as a result of certain tax planning strategies, together with the tax effects of the deferred tax liabilities, will be sufficient to fully recover the remaining net realizable value of deferred tax assets. In the event that all or part of the net deferred tax assets are determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to earnings in the period such determination is made. In addition, the calculation of tax liabilities involves significant judgment in estimating the impact of uncertainties in the application of complex tax laws. Resolution of these uncertainties in a manner inconsistent with management’s expectations could have a material impact on our financial condition and operating results. We recognize penalties and interest expense related to unrecognized tax benefits in income tax expense. | |
Goodwill And Intangible Assets | ' |
GOODWILL AND INTANGIBLE ASSETS | |
Goodwill represents the excess of acquisition costs over the fair value of the net assets of businesses acquired. Goodwill is not amortized, but instead tested at least annually for impairment. Goodwill is also tested for impairment as changes in circumstances occur indicating that the carrying value may not be recoverable. | |
Goodwill impairment testing first requires a comparison of the fair value of each reporting unit to the carrying value. If the carrying value of the reporting unit exceeds fair value, goodwill is considered impaired. Impairment testing for indefinite‑lived intangible assets requires a comparison between the fair value and the carrying value of the asset. If the carrying value of the asset exceeds its fair value, the asset is reduced to fair value. See Note 5 to the Consolidated Financial Statements for additional information on goodwill. | |
Intangible assets with finite lives are amortized on a straight‑line basis over the expected period to be benefited by future cash flows and reviewed for impairment. At both December 31, 2013 and 2012, we determined there was no impairment of intangible assets. At both December 31, 2013 and 2012, there were no indefinite‑lived intangible assets. | |
We capitalize certain software development costs related to software to be sold, leased, or otherwise marketed. Capitalized software development costs include purchased materials and services and other costs associated with the development of new products and services. Software development costs are expensed as incurred until technological feasibility has been established, at which time future costs incurred are capitalized until the product is available for general release to the public. Based on our product development process, technological feasibility is generally established once product and detailed program designs have been completed, uncertainties related to high-risk development issues have been resolved through coding and testing, and we have established that the necessary skills, hardware, and software technology are available for production of the product. Once a software product is available for general release to the public, capitalized development costs associated with that product will begin to be amortized to cost of sales over the product’s estimated economic life, using the greater of straight-line or a method that results in cost recognition in future periods that is consistent with the anticipated timing of product revenue recognition. | |
Our capitalized software development costs are subject to an ongoing assessment of recoverability, which is impacted by estimates and assumptions of future revenues and expenses for these software products, as well as other factors such as changes in product technologies. Any portion of unamortized capitalized software development costs that are determined to be in excess of net realizable value will be expensed in the period in which such a determination is made. We reached technological feasibility for certain software products and, as a result, capitalized $867,000 of software development costs during the year ended December 31, 2013. Once the software products are available for release, the capitalized development costs will begin to be amortized to cost of sales over the products’ estimated economic life using the greater of straight-line or a method that results in cost recognition in future periods that is consistent with the anticipated time of product revenue recognition. | |
Impairment Of Long-Lived Assets | ' |
IMPAIRMENT OF LONG‑LIVED ASSETS | |
Research And Development | ' |
RESEARCH AND DEVELOPMENT | |
Research and development costs associated with new products are charged to operations in the period incurred. | |
Warranties | ' |
WARRANTIES | |
We generally provide a standard two‑year warranty on product sales. We record estimated warranty costs at the time of sale and accrue for specific items at the time that their existence is known and the amounts are determinable. We estimate warranty costs using standard quantitative measures based on historical warranty claim experience and an evaluation of specific customer warranty issues. In addition, warranty provisions are also recognized for certain nonrecurring product claims that are individually significant. | |
Foreign Currency | ' |
FOREIGN CURRENCY | |
The financial position and results of operations of our foreign subsidiaries are measured using local currency as the functional currency. Assets and liabilities are translated using fiscal period‑end exchange rates, and statements of operations are translated using average exchange rates applicable to each period, with the resulting translation adjustments recorded as a separate component of shareholders’ equity under “Accumulated other comprehensive income (loss)”. Gains and losses from foreign currency transactions are recognized in the Consolidated Statements of Operations. | |
Net Income (Loss) Per Share | ' |
NET LOSS PER SHARE | |
Basic loss per share excludes dilution and is computed by dividing net loss attributable to common shareholders by the weighted‑average number of common shares outstanding during the period. Diluted loss per share includes potentially dilutive common shares consisting of stock options, restricted stock and warrants using the treasury stock method. Under the treasury stock method, shares associated with certain stock options have been excluded from the diluted weighted average shares outstanding calculation because the exercise of those options would lead to a net reduction in common shares outstanding. As a result, stock options to acquire 348,000, 481,000 and 404,000 weighted common shares have been excluded from the diluted weighted shares outstanding calculation for the years ended December 31, 2013, 2012 and 2011, respectively, because the exercise prices were greater than the average market price of the common shares during the period and were excluded from the calculation of diluted net income per share. | |
Use Of Estimates | ' |
USE OF ESTIMATES | |
The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and reported amounts of revenue and expense during the reporting period. Predicting future events is inherently an imprecise activity and, as such, requires the use of judgment. Ultimate results could differ from those estimates. Changes in these estimates will be reflected in the financial statements in future periods. | |
Stock-Based Compensation | ' |
STOCK‑BASED COMPENSATION | |
We measure the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant and recognize the cost over the period during which an employee is required to provide services in exchange for the award. Stock options are granted at exercise prices equal to the closing market price of our stock on the date of grant. | |
For purposes of determining estimated fair value of stock‑based payment awards, we utilize a Black‑Scholes option pricing model, which requires the input of certain assumptions requiring management judgment. Because our employee stock option awards have characteristics significantly different from those of traded options, and because changes in the input assumptions can materially affect fair value estimates, existing models may not provide a reliable single measure of the fair value of employee stock options. Management will continue to assess the assumptions and methodologies used to calculate estimated fair value of stock‑based compensation. Circumstances may change and additional data may become available over time that could result in changes to these assumptions and methodologies and thereby materially impact the fair value determination of future grants of stock‑based payment awards. If factors change and we employ different assumptions in future periods, the compensation expense recorded may differ significantly from the stock‑based compensation expense recorded in the current period | |
Fair_Value_Measurements_And_Ma1
Fair Value Measurements And Marketable Securities (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Fair Value Measurements And Marketable Securities [Abstract] | ' | |||||||||||
Schedule Of Fair Value Of Available-For-Sale Securities By Major Security Type | ' | |||||||||||
31-Dec-13 | ||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||
Bank certificates of deposit | $ | — | $ | 2,639 | $ | — | $ | 2,639 | ||||
$ | — | $ | 2,639 | $ | — | $ | 2,639 | |||||
31-Dec-12 | ||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||
Bank certificates of deposit | $ | — | $ | 2,524 | $ | — | $ | 2,524 | ||||
U.S. government obligations | 880 | 504 | — | 1,384 | ||||||||
Corporate obligations | 453 | — | — | 453 | ||||||||
State and municipal bonds | — | 456 | — | 456 | ||||||||
$ | 1,333 | $ | 3,484 | $ | — | $ | 4,817 | |||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Inventories [Abstract] | ' | |||||
Schedule Of Inventory | ' | |||||
December 31, | ||||||
2013 | 2012 | |||||
Components | $ | 2,797 | $ | 3,001 | ||
Finished goods | 792 | 1,484 | ||||
$ | 3,589 | $ | 4,485 | |||
Goodwill_And_Intangible_Assets1
Goodwill And Intangible Assets (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Intangible Assets [Abstract] | ' | ||||||||||
Schedule Of Goodwill | ' | ||||||||||
31-Dec-13 | |||||||||||
Weighted | |||||||||||
Gross | Net | Average | |||||||||
Carrying | Accumulated | Carrying | Useful Life | ||||||||
Amount | Amortization | Value | (in Years) | ||||||||
Developed technology | $ | 8,152 | $ | -4,587 | $ | 3,566 | 3.6 | ||||
Trade names | 3,267 | -2,110 | 1,157 | 4.5 | |||||||
Other intangible costs | 1,874 | -1,001 | 873 | 3.1 | |||||||
Software development costs | 867 | — | 867 | 3.0 | |||||||
Total | $ | 14,160 | $ | -7,698 | $ | 6,463 | 3.5 | ||||
Schedule Of Intangible Assets | ' | ||||||||||
31-Dec-13 | |||||||||||
Weighted | |||||||||||
Gross | Net | Average | |||||||||
Carrying | Accumulated | Carrying | Useful Life | ||||||||
Amount | Amortization | Value | (in Years) | ||||||||
Developed technology | $ | 8,152 | $ | -4,587 | $ | 3,566 | 3.6 | ||||
Trade names | 3,267 | -2,110 | 1,157 | 4.5 | |||||||
Other intangible costs | 1,874 | -1,001 | 873 | 3.1 | |||||||
Software development costs | 867 | — | 867 | 3.0 | |||||||
Total | $ | 14,160 | $ | -7,698 | $ | 6,463 | 3.5 | ||||
31-Dec-12 | |||||||||||
Weighted | |||||||||||
Gross | Net | Average | |||||||||
Carrying | Accumulated | Carrying | Useful Life | ||||||||
Amount | Amortization | Value | (in Years) | ||||||||
Developed technology | $ | 7,490 | $ | -3,480 | $ | 4,010 | 4.6 | ||||
Trade names | 3,267 | -1,853 | 1,414 | 5.8 | |||||||
Other intangible assets | 1,840 | -775 | 1,065 | 5.2 | |||||||
Total | $ | 12,597 | $ | -6,108 | $ | 6,489 | 4.9 | ||||
Schedule Of The Future Amortization Expense Related To Other Intangible Assets | ' | ||||||||||
Amortization | |||||||||||
Expense | |||||||||||
2014 | $ | 1,841 | |||||||||
2015 | 1,811 | ||||||||||
2016 | 1,136 | ||||||||||
2017 | 846 | ||||||||||
2018 | 624 | ||||||||||
Warranties_Tables
Warranties (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Warranties [Abstract] | ' | |||||
Schedule Of Warranty Liability And Related Activity | ' | |||||
Years ended December 31, | ||||||
2013 | 2012 | |||||
Beginning balance | $ | 520 | $ | 423 | ||
Warranty provisions | 209 | 234 | ||||
Warranty claims | -297 | -233 | ||||
Adjustments to preexisting warranties | 502 | 96 | ||||
Ending balance | $ | 934 | $ | 520 | ||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Schedule Of The Components Of Income Tax Expense (Benefit) | ' | ||||||||
Years ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Loss before income taxes | |||||||||
Domestic | $ | -9,041 | $ | -136 | $ | -6,761 | |||
Foreign | -2,923 | -3,396 | -6,278 | ||||||
Total | $ | -11,964 | $ | -3,532 | $ | -13,039 | |||
The components of income tax expense (benefit) are as follows (in thousands): | |||||||||
Years ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Current: | |||||||||
Federal | $ | -234 | $ | -48 | $ | 279 | |||
State | -3 | -1 | 4 | ||||||
Foreign | 153 | 90 | 315 | ||||||
Total | $ | -84 | $ | 41 | $ | 598 | |||
Deferred: | |||||||||
Federal | $ | 4,130 | $ | -31 | $ | -2,358 | |||
State | 61 | — | -35 | ||||||
Foreign | -170 | -190 | -1,227 | ||||||
4,021 | -221 | -3,620 | |||||||
Total | $ | 3,937 | $ | -180 | $ | -3,022 | |||
Schedule Of Reconciliation From The Federal Statutory Income Tax Provision To Effective Tax Expense (Benefit) | ' | ||||||||
Years ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
United States federal tax statutory rate | $ | -3,976 | $ | -1,201 | $ | -4,433 | |||
State taxes, net of federal benefit | -51 | 3 | -36 | ||||||
Valuation allowances against deferred tax assets | 7,890 | 90 | 121 | ||||||
Research and development tax credits | -252 | -135 | -412 | ||||||
Foreign provision different than U.S. tax rate | 391 | 545 | 641 | ||||||
Stock option expense | 28 | -27 | 82 | ||||||
Adjustment of prior year tax credits and refunds | -63 | 69 | 50 | ||||||
Goodwill impairment | - | 417 | 1,299 | ||||||
Uncertain tax positions | -8 | -19 | -138 | ||||||
Other | -22 | 78 | -196 | ||||||
Total | $ | 3,937 | $ | -180 | $ | -3,022 | |||
Summary Of The Deferred Tax Assets And Liabilities | ' | ||||||||
Years ended December 31, | |||||||||
2013 | 2012 | ||||||||
Current deferred tax assets (liabilities): | |||||||||
Accrued compensation and benefits | $ | 66 | $ | 42 | |||||
Prepaid expenses and other | -88 | -31 | |||||||
Inventory reserves | 240 | 21 | |||||||
Allowance for doubtful accounts | 237 | 115 | |||||||
Warranty reserves | 162 | 39 | |||||||
Total current deferred tax asset: | 617 | 186 | |||||||
Non-current deferred tax assets: | |||||||||
Intangible and other assets | 3,525 | 3,617 | |||||||
Foreign net operating loss carryforwards | 3,320 | 280 | |||||||
Non-qualified stock option expense | 47 | 63 | |||||||
Property, equipment and other | 147 | 96 | |||||||
Research and development credit | 378 | - | |||||||
Non-current deferred tax asset: | 7,417 | 4,056 | |||||||
Less: valuation allowance | -8,156 | -280 | |||||||
Non-current deferred tax asset (liability): | -739 | 3,776 | |||||||
Total net deferred tax asset (liability) | $ | -122 | $ | 3,962 | |||||
Summary Of Reconciliation Of The Beginning And Ending Amount Of Tax Liability For Uncertain Tax Positions | ' | ||||||||
Balance at December 31, 2011 | $ | 36 | |||||||
Additions for current year tax positions | - | ||||||||
Reductions as a result of lapses in statute of limitations | -18 | ||||||||
Balance at December 31, 2012 | $ | 18 | |||||||
Additions for current year tax positions | - | ||||||||
Reductions as a result of lapses in statute of limitations | -10 | ||||||||
Balance at December 31, 2013 | $ | 8 | |||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Stockholders' Equity [Abstract] | ' | ||||||||||||||
Summary Of Stock Option Activity | ' | ||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Shares | WAEP* | Shares | WAEP* | Shares | WAEP* | ||||||||||
Options outstanding at beginning of year | 398,893 | $ | 7.95 | 535,333 | $ | 9.58 | 463,433 | $ | 9.11 | ||||||
Granted | 86,000 | $ | 6.82 | 159,750 | $ | 5.12 | 156,000 | $ | 10.21 | ||||||
Exercised | -2,333 | $ | 3.65 | -56,000 | $ | 2.17 | -32,100 | $ | 3.29 | ||||||
Expired | -4,000 | $ | 9.00 | -16,000 | $ | 15.00 | -12,000 | $ | 15.70 | ||||||
Forfeited | -138,810 | $ | 10.28 | -224,190 | $ | 10.74 | -40,000 | $ | 9.79 | ||||||
Options outstanding at end of year | 339,750 | $ | 6.73 | 398,893 | $ | 7.95 | 535,333 | $ | 9.58 | ||||||
Options eligible for exercise at year-end | 130,688 | $ | 7.71 | 160,143 | $ | 9.84 | 249,333 | $ | 8.81 | ||||||
Schedule Of Weighted Average Assumptions | ' | ||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Expected life (in years) | 5.0 | 4.8 | 3.1 | ||||||||||||
Risk-free interest rate | 1.52 | % | 0.72 | % | 1.47 | % | |||||||||
Expected volatility | 60 | % | 42 | % | 44 | % | |||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | |||||||||
Restructuring_Tables
Restructuring (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Restructuring [Abstract] | ' | ||||||||
Summary Of Restructuring Activity | ' | ||||||||
Termination Benefits | Facility Costs and Contract Termination | Inventory Charges | Total | ||||||
Balance at January 1, 2011 | $- | $- | $- | $- | |||||
Charges | 208 | 101 | 426 | 735 | |||||
Settlements | -45 | -36 | -42 | -123 | |||||
Balance at December 31, 2011 | $ | $ | $ | $ | |||||
163 | 65 | 384 | 612 | ||||||
Charges | 359 | 71 | -- | 430 | |||||
Settlements | -522 | -136 | -384 | -1,042 | |||||
Balance at December 31, 2012 | $-- | $-- | $-- | $-- | |||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Information [Abstract] | ' | ||||||||||||
Financial Information By Reportable Segment | ' | ||||||||||||
For the year ended December 31, 2013 | |||||||||||||
Intersection | Highway | LPR | Total | ||||||||||
Revenue | $ | 13,428 | $ | 6,414 | $ | 6,448 | $ | 26,290 | |||||
Gross profit | 11,559 | 1,862 | 2,980 | 16,401 | |||||||||
Amortization of intangible assets | — | 488 | 1,066 | 1,554 | |||||||||
Intangible assets | — | 942 | 5,521 | 6,463 | |||||||||
For the year ended December 31, 2012 | |||||||||||||
Intersection | Highway | LPR | Total | ||||||||||
Revenue | $ | 16,031 | $ | 4,118 | $ | 4,814 | $ | 24,963 | |||||
Gross profit | 14,010 | 1,798 | 2,449 | 18,257 | |||||||||
Goodwill impairment | — | 1,372 | 1,803 | 3,175 | |||||||||
Amortization of intangible assets | — | 748 | 874 | 1,622 | |||||||||
Intangible assets | — | 1,430 | 5,059 | 6,489 | |||||||||
For the year ended December 31, 2011 | |||||||||||||
Intersection | Highway | LPR | Total | ||||||||||
Revenue | $ | 17,445 | $ | 7,366 | $ | 5,710 | $ | 30,521 | |||||
Gross profit | 15,096 | 3,512 | 2,696 | 21,304 | |||||||||
Goodwill impairment | 525 | 7,392 | 3,768 | 11,685 | |||||||||
Amortization of intangible assets | — | 768 | 882 | 1,650 | |||||||||
Intangible assets and goodwill | — | 3,551 | 7,457 | 11,008 | |||||||||
Schedule Of Percentages Of Net Revenue By Geographic Regions | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Asia Pacific | 10% | 11% | 4% | ||||||||||
Europe | 41% | 35% | 31% | ||||||||||
North America | 49% | 54% | 65% | ||||||||||
Commitments_And_Contingencies_
Commitments And Contingencies - (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies [Abstract] | ' | ||||
Schedule of Minimum annual rental commitments | ' | ||||
Future Lease | |||||
Payments | |||||
2014 | $ | 398 | |||
2015 | 83 | ||||
2016 | 2 | ||||
Basis_Of_Presentation_Details
Basis Of Presentation (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Royalty percentage of gross profit on licensed products | 50.00% | ' | ' |
Cash located in foreign banks | $1,800,000 | $2,600,000 | ' |
Software development costs | $867,000 | ' | ' |
Shares excluded from diluted weighted shares outstanding | 348,000 | 481,000 | 404,000 |
Maximum [Member] | ' | ' | ' |
Property, plant and equipment, estimated useful life | '7 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Property, plant and equipment, estimated useful life | '3 years | ' | ' |
Fair_Value_Measurements_And_Ma2
Fair Value Measurements And Marketable Securities (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value Measurements And Marketable Securities [Abstract] | ' | ' | ' |
Proceeds from maturities or sales of available-for-sale securities | $7.70 | $7.30 | $9.20 |
Fair_Value_Measurements_And_Ma3
Fair Value Measurements And Marketable Securities (Schedule Of Fair Value Of Available-For-Sale Securities By Major Security) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | $2,639 | $4,817 |
Level 1 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | ' | 1,333 |
Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | 2,639 | 3,484 |
Bank Certificates Of Deposit [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | 2,639 | 2,524 |
Bank Certificates Of Deposit [Member] | Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | 2,639 | 2,524 |
U.S. Government Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | ' | 1,384 |
U.S. Government Obligations [Member] | Level 1 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | ' | 880 |
U.S. Government Obligations [Member] | Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | ' | 504 |
Corporate Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | ' | 453 |
Corporate Obligations [Member] | Level 1 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | ' | 453 |
State And Municipal Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | ' | 456 |
State And Municipal Bonds [Member] | Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | ' | $456 |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Components | $2,797 | $3,001 |
Finished goods | 792 | 1,484 |
Total | $3,589 | $4,485 |
Goodwill_And_Intangible_Assets2
Goodwill And Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2012 |
Flow Traffic Ltd [Member] | CitySync [Member] | |||
Goodwill impairment charges | $3,175 | $11,685 | $11,700 | $3,200 |
Goodwill_And_Intangible_Assets3
Goodwill And Intangible Assets (Schedule Of Intangible Assets) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $14,160 | $12,597 |
Accumulated Amortization | -7,698 | -6,108 |
Net Carrying Value | 6,463 | 6,489 |
Weighted Average Useful Life (in Years) | '3 years 6 months | '4 years 10 months 24 days |
Developed Technology [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 8,152 | 7,490 |
Accumulated Amortization | -4,587 | -3,480 |
Net Carrying Value | 3,566 | 4,010 |
Weighted Average Useful Life (in Years) | '3 years 7 months 6 days | '4 years 7 months 6 days |
Trade Names [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 3,267 | 3,267 |
Accumulated Amortization | -2,110 | -1,853 |
Net Carrying Value | 1,157 | 1,414 |
Weighted Average Useful Life (in Years) | '4 years 6 months | '5 years 9 months 18 days |
Other Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 1,874 | 1,840 |
Accumulated Amortization | -1,001 | -775 |
Net Carrying Value | 873 | 1,065 |
Weighted Average Useful Life (in Years) | '3 years 1 month 6 days | '5 years 2 months 12 days |
Software Development Costs [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 867 | ' |
Net Carrying Value | $867 | ' |
Weighted Average Useful Life (in Years) | '3 years | ' |
Goodwill_And_Intangible_Assets4
Goodwill And Intangible Assets (Schedule Of Estimated future Amortization expense) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Intangible Assets [Abstract] | ' | ' |
2014 | $1,841 | ' |
2015 | 1,811 | ' |
2016 | 1,136 | ' |
2017 | 846 | ' |
2018 | 624 | ' |
Finite-Lived Intangible Assets, Net | $6,463 | $6,489 |
Credit_Facilities_Details
Credit Facilities (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Credit Facilities [Abstract] | ' |
Current revolving line of credit agreement, maximum amount | $5,000,000 |
Line of credit facility, interest rate | 4.50% |
Debt Instrument, basis spread on variable rate | 2.75% |
Line of credit facility, maximum amount outstanding during period | $0 |
Warranties_Details
Warranties (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Warranties [Abstract] | ' | ' |
Beginning balance | $520 | $423 |
Warranty provisions | 209 | 234 |
Warranty claims | -297 | -233 |
Adjustments to preexisting warranties | 502 | 96 |
Ending balance | $934 | $520 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Deferred tax asset, valuation allowance | $8,156,000 | ' |
Undistributed earnings | 1,418,000 | ' |
Current income tax receivable | 244,000 | 452,000 |
United States [Member] | ' | ' |
Net operating loss carryovers | 6,797,000 | ' |
United Kingdom Subsidiary [Member] | ' | ' |
Net operating loss carryovers | 3,864,000 | ' |
Hong Kong Subsidiary [Member] | ' | ' |
Net operating loss carryovers | 798,000 | ' |
CANADA | ' | ' |
Net operating loss carryovers | $195,000 | ' |
Income_Taxes_Schedule_Of_The_C
Income Taxes (Schedule Of The Components Of Income (Loss) Before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income (loss) before income taxes: | ' | ' | ' |
Domestic | ($9,041) | ($136) | ($6,761) |
Foreign | -2,923 | -3,396 | -6,278 |
Loss before income taxes | ($11,964) | ($3,532) | ($13,039) |
Income_Taxes_Schedule_Of_The_C1
Income Taxes (Schedule Of The Components Of Income Tax (Benefit) Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal | ($234) | ($48) | $279 |
State | -3 | -1 | 4 |
Foreign | 153 | 90 | 315 |
Total current | -84 | 41 | 598 |
Deferred: | ' | ' | ' |
Federal | 4,130 | -31 | -2,358 |
State | 61 | ' | -35 |
Foreign | -170 | -190 | -1,227 |
Total deferred | 4,085 | -402 | -3,620 |
Deferred Tax Portion Of Tax Provision | 4,021 | -221 | -3,620 |
Total income tax expense (benefit) | $3,937 | ($180) | ($3,022) |
Income_Taxes_Schedule_Of_Recon
Income Taxes (Schedule Of Reconciliation From The Federal Statutory Income Tax Provision To Effective Tax (Benefit) Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
United States federal tax statutory rate | ($3,976) | ($1,201) | ($4,433) |
State taxes, net of federal benefit | -51 | 3 | -36 |
Valuation allowances against deferred tax assets | 7,890 | 90 | 121 |
Research and development tax credits | -252 | -135 | -412 |
Foreign provision different than U.S. tax rate | 391 | 545 | 641 |
Stock option expense | 28 | -27 | 82 |
Adjustment of prior year tax credits and refunds | -63 | 69 | 50 |
Goodwill impairment | ' | 417 | 1,299 |
Uncertain tax positions | -8 | -19 | -138 |
Other | -22 | 78 | -196 |
Total income tax expense (benefit) | $3,937 | ($180) | ($3,022) |
Income_Taxes_Summary_Of_The_De
Income Taxes (Summary Of The Deferred Tax Assets And Liabilities) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Current deferred tax assets (liabilities): | ' | ' |
Accrued compensation and benefits | $66 | $42 |
Prepaid expenses and other | -88 | -31 |
Inventory reserves | 240 | 21 |
Allowance for doubtful accounts | 237 | 115 |
Warranty reserves | 162 | 39 |
Total current deferred tax asset | 617 | 186 |
Non-current deferred tax assets: | ' | ' |
Intangible and other assets | 3,525 | 3,617 |
Foreign net operating loss carryforwards | 3,320 | 280 |
Non-qualified stock option expense | 47 | 63 |
Property, equipment and other | 147 | 96 |
Research and development credit | 378 | ' |
Non-current deferred tax asset | 7,417 | 4,056 |
Less: valuation allowance | -8,156 | -280 |
Non-current deferred tax asset (liability), net | -739 | 3,776 |
Total net deferred tax asset (liability) | ($122) | $3,962 |
Income_Taxes_Summary_Of_Reconc
Income Taxes (Summary Of Reconciliation Of The Beginning And Ending Amount Of Tax Liability For Uncertain Tax Positions) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Abstract] | ' | ' |
Beginning balance | $18 | $36 |
Reductions as a result of lapses in statute of limitations | -10 | -18 |
Ending balance | $8 | $18 |
Licensing_Details
Licensing - (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Licensing [Abstract] | ' | ' | ' |
Royalty Revenue | $11,598 | $12,399 | $13,046 |
Significant_Customers_And_Conc1
Significant Customers And Concentration Of Credit Risk (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Concentration Risk, Percentage | 44.00% | 50.00% | 43.00% |
Entity wide revenue amount for major customer | $1.60 | $2.60 | ' |
Econolite [Member] | ' | ' | ' |
Accounts receivable percentage | 10.00% | ' | ' |
Retirement_Savings_Plan_Detail
Retirement Savings Plan (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Retirement Savings Plans [Abstract] | ' | ' | ' |
Contributions made to defined contribution plan | $128,000 | $132,000 | $170,000 |
Shareholders_Equity_Compensati
Shareholders' Equity Compensation (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Minimum [Member] | Maximum [Member] | Stock Awards [Member] | Stock Awards [Member] | ||||
Stock option awards, vesting term | ' | ' | ' | '3 years | '5 years | ' | ' |
Stock option awards, contractual term | '6 years 10 months 24 days | ' | ' | '6 years | '10 years | ' | ' |
Options outstanding, aggregate intrinsic value | $9,000 | ' | ' | ' | ' | ' | ' |
Options exercisable, weighted average remaining contractual term | '5 years | ' | ' | ' | ' | ' | ' |
Options exercisable, aggregate intrinsic value | 2,250 | ' | ' | ' | ' | ' | ' |
Total intrinsic value (at exercise) of stock options exercised | $4,000 | $208,000 | $211,000 | ' | ' | ' | ' |
Number of shares granted | 86,000 | 159,750 | 156,000 | ' | ' | ' | ' |
Weighted average grant date fair value of options | $3.53 | $1.82 | $3.35 | ' | ' | $5.14 | $5.60 |
Share-based awards, shares issued | ' | ' | ' | ' | ' | 3,645 | 13,395 |
Shares available for grant | 205,750 | ' | ' | ' | ' | ' | ' |
Shareholders_Equity_Summary_Of
Shareholders' Equity (Summary Of Stock Option Activity) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock-Based Compensation [Abstract] | ' | ' | ' |
Number of Shares, outstanding - beginning of year | 398,893 | 535,333 | 463,433 |
Number of Shares, Granted | 86,000 | 159,750 | 156,000 |
Number of Shares, Exercised | -2,333 | -56,000 | -32,100 |
Number of Shares, Expired | -4,000 | -16,000 | -12,000 |
Number of Shares, Forfeited | -138,810 | -224,190 | -40,000 |
Number of Shares, outstanding - end of period | 339,750 | 398,893 | 535,333 |
Number of Shares, exercisable - end of period | 130,688 | 160,143 | 249,333 |
Weighted Average Exercise Price per Share, outstanding - beginning of year | $7.95 | $9.58 | $9.11 |
Weighted Average Exercise Price per Share, Granted | $6.82 | $5.12 | $10.21 |
Weighted Average Exercise Price per Share, Exercised | $3.65 | $2.17 | $3.29 |
Weighted Average Exercise Price per Share, expired | $9 | $15 | $15.70 |
Weighted Average Exercise Price per Share, Forfeited | $10.28 | $10.74 | $9.79 |
Weighted Average Exercise Price per Share, outstanding - end of period | $6.73 | $7.95 | $9.58 |
Weighted Average Exercise Price per Share, exercisable - end of period | $7.71 | $9.84 | $8.81 |
Shareholders_Equity_Schedule_O
Shareholders' Equity (Schedule Of Weighted Average Assumption Used to Determine The Fair Value Of Stock Options Granted) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stockholders' Equity [Abstract] | ' | ' | ' |
Expected life (in years) | '5 years | '4 years 9 months 18 days | '3 years 1 month 6 days |
Risk-free interest rate | 1.52% | 0.72% | 1.47% |
Expected volatility | 60.00% | 42.00% | 44.00% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Shareholders_Equity_Schedule_O1
Shareholders' Equity (Schedule Of Other Information Pertaining To Options) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stockholders' Equity [Abstract] | ' | ' | ' |
Cash received from the exercise of stock options | $8,500 | $121,000 | $105,000 |
Stock-based compensation expense recognized within general and administrative expense on the consolidated statements of operations | 213,000 | 244,000 | 412,000 |
Excess income tax benefits from exercise of stock options | ' | $71,000 | $37,000 |
Restructuring_Narrative_Detail
Restructuring (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring [Abstract] | ' | ' |
Restructuring charges | $430 | $287 |
Cost of goods sold, restructuring | ' | $448 |
Restructuring_Summary_Of_Restr
Restructuring (Summary Of Restructuring Activity) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Balance at beginning of period | $612 | ' |
Other Restructuring charges | 430 | 735 |
Settlements | -1,042 | -123 |
Balance at end of period | ' | 612 |
Termination Benefits [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Balance at beginning of period | 163 | ' |
Other Restructuring charges | 359 | 208 |
Settlements | -522 | -45 |
Balance at end of period | ' | 163 |
Facility Costs And Contract Termination [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Balance at beginning of period | 65 | ' |
Other Restructuring charges | 71 | 101 |
Settlements | -136 | -36 |
Balance at end of period | ' | 65 |
Inventory Charges [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Balance at beginning of period | 384 | ' |
Other Restructuring charges | ' | 426 |
Settlements | -384 | -42 |
Balance at end of period | ' | $384 |
Segment_Information_Financial_
Segment Information (Financial Information By Reportable Segment) (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Information [Abstract] | ' | ' |
Long-Lived Assets | $323,000 | $1,200,000 |
Segment_Information_Financial_1
Segment Information (Financial Information By Reportable Segment) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenue | $26,290 | $24,963 | $30,521 |
Gross profit | 16,401 | 18,257 | 21,304 |
Goodwill impairment | ' | 3,175 | 11,685 |
Amortization of intangible assets | 1,554 | 1,622 | 1,650 |
Intangible assets and goodwill | 6,463 | 6,489 | 11,008 |
Intersection [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenue | 13,428 | 16,031 | 17,445 |
Gross profit | 11,559 | 14,010 | 15,096 |
Goodwill impairment | ' | ' | 525 |
Highway [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenue | 6,414 | 4,118 | 7,366 |
Gross profit | 1,862 | 1,798 | 3,512 |
Goodwill impairment | ' | 1,372 | 7,392 |
Amortization of intangible assets | 488 | 748 | 768 |
Intangible assets and goodwill | 942 | 1,430 | 3,551 |
LPR [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenue | 6,448 | 4,814 | 5,710 |
Gross profit | 2,980 | 2,449 | 2,696 |
Goodwill impairment | ' | 1,803 | 3,768 |
Amortization of intangible assets | 1,066 | 874 | 882 |
Intangible assets and goodwill | $5,521 | $5,059 | $7,457 |
Segment_Information_Schedule_O
Segment Information (Schedule Of Percentages Of Net Revenue By Geographic Regions) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Asia Pacific [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Segment geographical revenue percentage | 10.00% | 11.00% | 4.00% |
Europe [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Segment geographical revenue percentage | 41.00% | 35.00% | 31.00% |
United States [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Segment geographical revenue percentage | 49.00% | 54.00% | 65.00% |
Other_Assets_Details
Other Assets (Details) (USD $) | Jan. 31, 2013 |
Other Assets [Abstract] | ' |
Cost-method investments | $300,000 |
Commitments_Narrative_Details
Commitments (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Lease Commitments [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense | $946,000 | $947,000 | $1,100,000 |
Future minimum annual lease payments in 2014 | 398,000 | ' | ' |
Future minimum annual lease payments in 2015 | 83,000 | ' | ' |
Future minimum annual lease payments in 2016 | $2,000 | ' | ' |