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Restructuring Charges
6 Months Ended
Jun. 30, 2012
Restructuring Charges  
Restructuring Charges

Note 5. Restructuring Charges

 

The Company recorded restructuring charges of $0.1 million and $3.0 million for the three and six months ended June 30, 2012, respectively. These charges represent severance and related costs in connection with a reduction in force implemented by the Company related to actions taken by management to control costs and improve the focus of its operations in order to sustain future profitability and conserve cash. The liability at June 30, 2012 of $0.6 million is expected to be paid in the periods extending through the remainder of 2012.

 

Changes in the Company’s restructuring liability, which consists primarily of severance and related costs, included in amounts reported as other current liabilities, are as follows:

 

 

 

(in thousands)

 

Balance at December 31, 2011

 

$

171

 

Severance and related costs

 

3,034

 

Cash payments

 

(2,358

)

Noncash payments (accelerated vesting of certain stock options)

 

(279

)

Balance at June 30, 2012

 

$

568