RESTRICTED CASH AND TIME DEPOSITS

3 Months Ended

Mar. 31, 2014

RESTRICTED CASH AND TIME DEPOSITS [Abstract]

RESTRICTED CASH AND TIME DEPOSITS

3. RESTRICTED CASH AND TIME DEPOSITS

Restricted cash and time deposits consisted of the following:

	March 31, 2014		December 31, 2013
Time deposits	$	6,884	$	1,188
Short-term security deposits under customer contracts		—		298
Long-term deposits under employee loan programs		216		225
Total	$	7,100	$	1,711

Included in time deposits as of March 31, 2014, were deposits with varying maturities within 12 months from the reporting date, which earned interest at a weighted average rate of 1.67% during the three months ended March 31, 2014.

Included in time deposits as of December 31, 2013, was a bank deposit of $1,188. The deposit matures on October 15, 2014 and earns interest at the rate of 2.05%. The Company does not intend to withdraw the deposit prior to its maturity.

At December 31, 2013, short-term security deposits under customer contracts included fixed amounts placed in respect of bank guarantees intended to secure appropriate performance under respective contracts. The Company estimates the probability of non-performance under the contracts as remote; therefore, no provision for losses has been created in respect of this amount as of that date.

Also included in restricted cash as of March 31, 2014 and December 31, 2013, were deposits of $216 and $225, respectively, placed in connection with certain employee loan program.