Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Assumptions used for Estimating Fair Value of Each Option Award on Date of Grant using Black-Scholes Valuation Model

The Company uses the following Black-Scholes inputs to determine the fair value of new stock option grants.

	Three Months Ended September 30,					Nine Months Ended September 30,
	2015			2014		2015			2014
Expected volatility		30	%		—		26 – 30	%		33 – 35	%
Expected dividends		—			—		—			—
Expected life (in years)		6.0			—		4.1 – 6.3			5.5 – 6.3
Risk-free interest rate		1.8	%		—		1.3 – 1.9	%		1.5 – 1.9	%

Schedule of Option Activity

A summary of option activity for 2015 is presented below:

	Time Based			Performance Based			Total			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2015		1,146,509			384,601			1,531,110		$	13.57		6.4	$	3,979,000
Options granted		281,474			—			281,474			12.11
Options cancelled		(30,759	)		(3,904	)		(34,663	)		21.33
Options exercised		—			—			—			—
Options forfeited or expired		(312,413	)		(143,737	)		(456,150	)		19.25
Outstanding at September 30, 2015		1,084,810			236,962			1,321,772			11.10		5.2	$	—
Vested and expected to vest at September 30, 2015		1,042,638			232,695			1,275,332			11.03		5.1	$	—
Exercisable at September 30, 2015		662,891			208,579			871,470			10.01		4.1	$	—

Summary of Restricted Stock Awards Activity

A summary of restricted stock awards activity for 2015 is presented below:

	Time Based			Weighted Average Grant Date Fair Value
Issued and unvested at January 1, 2015		—		$	—
Granted		1,276,700			6.14
Vested		—			—
Forfeited		(184,340	)		6.27
Issued and unvested at September 30, 2015		1,092,360		$	6.12

Schedule of Stock-Based Compensation Expense Recognized

Stock-based compensation expense for both time based and performance based stock options, restricted stock awards and common stock grants were recognized in the condensed consolidated statements of operations as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2015		2014		2015		2014
Cost of goods sold	$	51	$	32	$	102	$	104
General and administrative		417		151		1,095		474
Sales and marketing		71		34		186		116
Research and development		52		30		141		88
Total stock-based compensation expense	$	591	$	247	$	1,524	$	782