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Stock Based Compensation (Tables)
 9 Months Ended
Sep. 28, 2013
Activity in Stock Option Plan

The following table summarizes information regarding activity in our stock option plan during the nine months ended September 28, 2013:

 

 

 

Number of Shares

 

  

Weighted

Average

Exercise Price

Per Share

 

  

Aggregate Intrinsic Value (thousands)

 

Outstanding at December 29, 2012             

 

  1,570,543

  

  

$

  3.64

  

  

 

 

 

Granted             

 

  145,800

 

  

$

  5.59

  

  

 

 

 

Exercised             

 

(373,663

)

  

$

  2.88

  

  

 

 

 

Canceled or forfeited             

 

(117,879

)

  

$

  5.54

  

  

 

 

 

Outstanding at September 28, 2013             

 

  1,224,801

 

  

$

  3.92

  

  

$

  2,706

  

 
Weighted Average Assumptions for Fair Value Estimate of Stock-Based Awards (Options)

The Company uses the Black-Scholes option-pricing model to estimate fair value of stock-based awards (options) with the following weighted average assumptions:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 28,

2013

 

 

September 29,

2012

 

 

September 28,

2013

 

 

September 29,

2012

 

Average risk free interest rate             

 

  1.26

%

 

 

  0.59

%

 

 

  1.11

%

 

 

  0.68

%

Expected life (in years)             

 

4.50 years

 

 

 

4.55 years

  

 

 

4.50 years

 

 

 

4.55 years

  

Dividend yield             

 

  0.0

%

 

 

  0.0

%

 

 

  0.0

%

 

 

  0.0

%

Average volatility             

 

  66

%

 

 

  90

%

 

 

  72

%

 

 

  91

%

 
Stock-Based Compensation Expense

The following table shows stock-based compensation expense included in the condensed consolidated statements of operations for the three months and nine months ended September 28, 2013 and September 29, 2012:

 

 

Three Months Ended

 

 

Nine Months Ended

 

(in thousands) 

September 28,

2013

 

 

September 29,

2012

 

 

September 28,

2013

 

 

September 29,

2012

 

Cost of revenues             

$

  27

 

 

$

  17

 

 

$

  78

 

 

$

  51

  

Research and development             

 

  17

 

 

 

  19

 

 

 

  53

 

 

 

  58

  

Sales and marketing             

 

  30

 

 

 

  29

 

 

 

  80

 

 

 

  84

  

General and administrative             

 

  103

 

 

 

(85

) 

 

 

  300

 

 

 

  84

  

 

$

  177

 

 

$

(20

) 

 

$

  511

 

 

$

  277

  

 
Stock Options Outstanding, Exercisable and Expected to Vest

Information regarding stock options outstanding, vested and expected to vest and exercisable at September 28, 2013 is summarized below:

 

 

Number of

Shares

 

 

Weighted Average

Exercise Price

 

 

Weighted Average

Remaining Contractual

Life (Years)

 

 

Aggregate

Intrinsic Value

(thousands)

 

Options outstanding             

 

  1,224,801

 

  

$

  3.92

 

 

 

  3.73

 

 

$

  2,706

  

Options vested and expected to vest             

 

  1,155,031

 

  

$

  3.89

 

 

 

  3.56

 

 

$

  2,596

  

Options exercisable             

 

  789,589

 

  

$

  3.67

 

 

 

  2.42

 

 

$

  1,967

  

 
Restricted Stock Units Activity

Information regarding the restricted stock units activity for the nine months ended September 28, 2013 is summarized below:

 

 

Number
of Shares

 

Outstanding at December 29, 2012             

 

  55,999

  

Restricted stock units granted             

 

  230,509

  

Restricted stock units released             

 

(17,249

)  

Restricted stock units forfeited             

 

  0

  

Outstanding at September 28, 2013             

 

  269,259