INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes

Income (loss) before income taxes

	Year ended December 31,
	2013			2012			2011
	(in thousands)
U.S.	$	(38,114	)	$	(17,849	)	$	51,618
Foreign		2,603			5,263			3,015
Total	$	(35,511	)	$	(12,586	)	$	54,633

Income Tax Expense (Benefit)

Income taxes

	Year ended December 31,
	2013			2012			2011
	(in thousands)
Current
U.S.	$	—		$	(204	)	$	177
State		—			(357	)		2,777
Foreign		6			(163	)		173
Total current income tax expense (benefit)		6			(724	)		3,127
Deferred
U.S.		(5,863	)		(5,536	)		13,223
State		691			(1,049	)		224
Foreign		6			261			—
Total deferred income tax expense		(5,166	)		(6,324	)		13,447
Total income tax expense (benefit)	$	(5,160	)	$	(7,048	)	$	16,574

Reconciliation of Income Tax Computed at Federal Statutory Rate to Income Before Taxes

The reconciliation of income tax computed at the federal statutory rate to income before taxes is as follows:

	Year ended December 31,
	2013			2012			2011
U.S. Federal statutory rate		(34.0	)%		(34.0	)%		35.0	%
State taxes net of federal benefit		(5.5	)		(8.9	)		5.2
Permanent differences		—			—			(0.6	)
Foreign rate differential and transactional tax		(0.7	)		(3.8	)		(1.4	)
Impact of foreign tax holiday		(1.8	)		(10.4	)		—
Valuation allowance		26.9			—			(5.9	)
Other		0.6			1.1			(2.0	)
		(14.5	)%		(56.0	)%		30.3	%

Significant Components of Net Deferred Income Taxes

Significant components of the Company’s net deferred income taxes are as follows at December 31:

	2013			2012
	(in thousands)
Deferred tax assets:
Allowance for doubtful accounts	$	20		$	115
Inventory reserves		1,340			1,697
Accrued liabilities		76			316
Warrant interest expense		277			277
Stock compensation expense		2,850			2,503
State net operating loss—net of tax		3,500			1,524
Net operating loss carryforward		16,206			4,537
Unrealized loss on securities held for sale		240			—
Tax credits		514			297
Valuation allowance		(9,547	)		—
Total deferred tax assets		15,476			11,266
Deferred tax liability:
Depreciation		(15,620	)		(16,685	)
Unrealized gain on securities held for sale		—			(340	)
Prepaid expenses		(123	)		(140	)
Net deferred tax liability	$	(267	)	$	(5,899	)

Deferred Income Tax Assets and Liabilities on Consolidated Balance Sheets

The Company’s deferred income tax assets and liabilities were reported on the consolidated balance sheets as follows.

	2013			2012
	(in thousands)
Current deferred income tax assets	$	—		$	4,427
Long term deferred income tax liabilities		(267	)		(10,326	)
Net deferred tax liability	$	(267	)	$	(5,899	)

Reconciliation of Unrecognized Tax Benefits Taken or Expected to be Taken in a Tax Return That Have Been Recorded on Company's Financial Statements

The following is a reconciliation of the unrecognized tax benefits taken or expected to be taken in a tax return that have been recorded on the Company’s financial statements for the years ended December 31, 2013.

	(in thousands)
Balance at January 1, 2012	$	363
Decrease related to prior year		(363	)
Tax positions related to current year		1,140
Balance at December 31, 2012		1,140
Tax positions related to prior year		—
Tax positions related to current year		—
Balance at December 31, 2013	$	1,140