Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2016

Stockholders' Equity

Schedule of key assumptions to determine fair value of options

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Average volatility	31.9	%	27.5	%	30.4	%	27.1	%
Risk-free interest rate	1.3	%	2.0	%	1.5	%	1.3	%
Weighted-average expected life in years	6.3		6.3		5.5		4.5
Dividend yield rate	—	%	—	%	—	%	—	%

Schedule of the summary of option activity under all plans

				Weighted-Average
		Weighted-Average		Remaining	Aggregate
		Exercise		Contractual	Intrinsic
	Options	Price		Term (Years)	Value(1)
					(in thousands)
Outstanding as of December 31, 2015	12,240,467	$	15.41
Options granted	2,395,789		12.19
Options exercised	(1,262,020)		13.93
Options cancelled	(174,783)		13.48
Options expired	(245,538)		23.84
Outstanding as of September 30, 2016	12,953,915	$	14.82	4.50	$	67,739
Exercisable as of September 30, 2016	8,183,715	$	15.59	2.99	$	41,704

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the estimated fair value of the Company’s common stock for those awards that have an exercise price below the estimated fair value at September 30, 2016.

Schedule of information relating to options grants

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
	(in thousands, except per share data)
Weighted-average grant date fair value	$	6.34	$	4.54	$	3.42	$	3.44
Intrinsic value of options exercised		4,998		268		5,980		2,721
Cash received		14,331		816		17,584		11,257
Total fair value of the options vested during the year		2,688		2,888		7,948		5,423

Schedule of the summary of nonvested options status

		Weighted-Average
		Grant Date
	Options	Fair Value
Nonvested as of December 31, 2015	5,202,095	$	3.44
Options granted	2,395,789		3.42
Options vested	(2,652,901)		3.00
Options forfeited	(174,783)		4.67
Nonvested as of September 30, 2016	4,770,200		3.63

Schedule of information relating to RSU grants and deliveries

		Total Fair Market
		Value of RSUs
		Issued
	Total RSUs	as
	Issued	Compensation(1)
		(in thousands)
RSUs outstanding at December 31, 2015	866,540
RSUs granted	732,021	$	8,646
RSUs forfeited	(53,157)
Common stock delivered	(218,875)
RSUs surrendered for taxes	(108,457)
RSUs outstanding at September 30, 2016	1,218,072

The total fair market value is derived from the number of RSUs granted times the current stock price on the date of grant.

Schedule of recorded share-based compensation expense under all plans

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
	(in thousands)
Cost of revenues	$	675	$	638	$	2,245	$	1,856
Operating expenses:
Selling, distribution, and marketing		45		49		176		148
General and administrative		2,593		2,536		8,339		6,676
Research and development		242		204		844		677
Total share-based compensation	$	3,555	$	3,427	$	11,604	$	9,357

Schedule of changes in stockholders' equity

	Nine Months
	Ended
	September 30,
	2016
	(in thousands)
Stockholders’ equity as of December 31, 2015	$	295,510
Net income		13,274
Accumulated other comprehensive loss		(106)
Exercise of stock options		17,584
Issuance of common stock to employees under the ESPP		915
Nonemployee share-based compensation expense		1,122
Employee share-based compensation expense		10,482
Repurchase of common stock(1)		(1,342)
Purchase of treasury stock		(8,986)
Stockholders’ equity as of September 30, 2016	$	328,453

⁽¹⁾ Repurchase of common stock relating to the tax withholding of equity award settlements.