Commitments

12 Months Ended

Dec. 31, 2012

Commitments

Note 11 – Commitments

The Company leases property from third parties. The Company leases a portion of its U.S. facilities, and the lease term expires in July 2017. The Company leases office and manufacturing space in the United Kingdom, and the initial term expires in February 2016. The Company leases an office and manufacturing space in Japan, and the initial term expires in November 2021. The Company has the ability to terminate this lease, with no penalty, upon six months’ notice.

As a condition of the lease of the UK facility, the Company received a rent holiday for the full year of 2011. The expense related to the full term of the lease is being recognized on a straight-line basis in accordance with ASC 840, Leases (ASC 840).

In addition to those property leases described above, the Company has acquired capital equipment under capital leases.

Future minimum commitments under non-cancelable leases at December 31, 2012, are as follows:

Years Ending December 31,	Capital Leases		Operating Leases
(in thousands)
2013	$	311	$	1,289
2014		217		1,262
2015		151		1,255
2016		11		723
2017		—		544
After 2017		—		2,059
Total future minimum lease payments		690	$	7,132
Less interest cost		61
Net present value of minimum lease payments	$	629

Rental expense was approximately $1.3 million, $0.8 million and $0.9 million for the years ended December 31, 2012, 2011 and 2010, respectively.