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Organization and Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2014
Accounting Policies [Abstract]  
Net Sales by Geographic Area

For the three and nine months ended September 30, 2014 and 2013, net sales by geographic area were as follows (dollars in thousands):

 

     Three Months Ended September 30,     Nine Months Ended September 30,  
     2014     2013     2014     2013  

United States

   $ 37,605         84.8   $ 31,483         89.4   $ 95,336         81.0   $ 86,036         88.0

Other Countries

     6,744         15.2        3,714         10.6        22,373         19.0        11,770         12.0   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total

   $ 44,349         100.0   $ 35,197         100.0   $ 117,709         100.0   $ 97,806         100.0
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 
Weighted Average Number of Shares Outstanding and Income Per Share

The calculation of the weighted average number of shares outstanding and income per share are as follows (in thousands, except per share data):

 

     Three Months Ended September 30,      Nine Months Ended September 30,  
     2014      2013      2014      2013  

Numerator for basic and diluted earnings per share:

           

Net income

   $ 7,558       $ 5,114       $ 14,832       $ 12,869   
  

 

 

    

 

 

    

 

 

    

 

 

 

Denominator:

           

Weighted average shares outstanding — basic

     52,475         51,342         53,013         51,727   

Dilutive effect of stock-based awards

     1,346         1,979         1,537         1,917   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted weighted average shares outstanding

     53,821         53,321         54,550         53,644   
  

 

 

    

 

 

    

 

 

    

 

 

 

Anti-dilutive stock-based awards excluded

     336         565         328         898   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net income per common share:

           

Basic

   $ 0.14       $ 0.10       $ 0.28       $ 0.25   

Diluted

   $ 0.14       $ 0.10       $ 0.27       $ 0.24   
Summary of Changes in Estimated Product Warranty Liabilities

Changes in the Company’s estimated product warranty liabilities are as follows (in thousands):

 

     Nine Months Ended September 30,  
     2014     2013  

Balance, beginning of period,

   $ 955      $ 484   

Utilization of accrual

     (646     (420

Warranty expense

     517        644   
  

 

 

   

 

 

 

Balance, end of period,

   $ 826      $ 708