XML 107 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Restatement of Previously Issued Fiancial Statements (Tables)
 6 Months Ended
Jun. 30, 2013
Accounting Changes and Error Corrections [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]
The restated condensed quarterly consolidated statement of operations for the second quarter of fiscal year 2012 is presented below (in thousands, except per share data):
 
 
Three months ended June 30, 2012
 
 
As previously reported
 
Restatement Adjustments
 
Restated
Revenue
 
$
40,856

 
$
(4,618
)
 
$
36,238

Cost of revenue
 
23,876

 
(2,162
)
 
21,714

Gross profit
 
16,980

 
(2,456
)
 
14,524

Operating expenses:
 
 
 
 
 
 
Selling, general and administrative
 
8,238

 
171

 
8,409

Research and development
 
5,294

 
—

 
5,294

Total operating expenses
 
13,532

 
171

 
13,703

Income (loss) from operations
 
3,448

 
(2,627
)
 
821

Interest expense, net
 
(56
)
 
—

 
(56
)
Amortization of debt discount and prepaid debt costs
 
(15
)
 
—

 
(15
)
Income (loss) from operations before income taxes
 
3,377

 
(2,627
)
 
750

Income tax provision
 
719

 
—

 
719

Net income (loss)
 
$
2,658

 
$
(2,627
)
 
$
31

Net income (loss) per share:
 
 
 
 
 
 
Basic
 
$
0.09

 
$
(0.09
)
 
$
—

Diluted
 
$
0.09

 
$
(0.09
)
 
$
—

Weighted average common shares outstanding:
 
 
 
 
 
 
Basic
 
28,672

 
 
 
28,672

Diluted
 
28,780

 
 
 
28,780

The restated condensed consolidated statement of operations for the six months ended June 30, 2012 is presented below (in thousands):
 
 
Six months ended June 30, 2012
 
 
As previously reported
 
Restatement Adjustments
 
Restated
Revenue
 
$
80,086

 
$
(8,044
)
 
$
72,042

Cost of revenue
 
46,969

 
(4,608
)
 
42,361

Gross profit
 
33,117

 
(3,436
)
 
29,681

Operating expenses:
 
 
 
 
 
 
Selling, general and administrative
 
17,524

 
673

 
18,197

Research and development
 
10,890

 
(26
)
 
10,864

Total operating expenses
 
28,414

 
647

 
29,061

Income (loss) from operations
 
4,703

 
(4,083
)
 
620

Interest expense, net
 
(82
)
 
—

 
(82
)
Amortization of debt discount and prepaid debt costs
 
(26
)
 
—

 
(26
)
Income (loss) from operations before income taxes
 
4,595

 
(4,083
)
 
512

Income tax provision
 
1,433

 
—

 
1,433

Net income (loss)
 
$
3,162

 
$
(4,083
)
 
$
(921
)
Net income (loss) per share:
 
 
 
 
 
 
Basic
 
$
0.11

 
$
(0.14
)
 
$
(0.03
)
Diluted
 
$
0.11

 
$
(0.14
)
 
$
(0.03
)
Weighted average common shares outstanding:
 
 
 
 
 
 
Basic
 
28,397

 
 
 
28,397

Diluted
 
28,680

 
 
 
28,397

The restated condensed consolidated statement of cash flows for the six months ended June 30, 2012 is presented below (in thousands):
 
 
Six Months Ended June 30, 2012
 
 
As previously reported
 
Restatement Adjustments
 
Restated
OPERATING ACTIVITIES:
 
 
 
 
 
 
Net income (loss)
 
$
3,162

 
$
(4,083
)
 
$
(921
)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
 
 
 
 
 
 
Depreciation
 
3,394

 
—

 
3,394

Amortization of intangible assets
 
254

 
—

 
254

Amortization of debt discount and prepaid debt costs
 
26

 
—

 
26

Pension cost
 
91

 
—

 
91

Stock-based compensation expense
 
2,056

 
1

 
2,057

Recovery of losses on accounts receivable
 
(362
)
 
127

 
(235
)
Changes in operating assets and liabilities:
 
 
 
 
 
 
Trade and other accounts receivable
 
(12,160
)
 
5,897

 
(6,263
)
Inventories
 
(3,031
)
 
(4,821
)
 
(7,852
)
Prepaid expenses and other assets
 
(32
)
 
(137
)
 
(169
)
Accounts payable and accrued liabilities and deferred revenue
 
(4,672
)
 
3,116

 
(1,556
)
Accrued employee compensation
 
(504
)
 
(100
)
 
(604
)
Deferred tax liability, long term
 
19

 
—

 
19

Other long-term liabilities
 
(2,275
)
 
—

 
(2,275
)
Net cash used in operating activities
 
(14,034
)
 
—

 
(14,034
)
INVESTING ACTIVITIES:
 
 
 
 
 
 
Purchases of property and equipment
 
(8,288
)
 
—

 
(8,288
)
Net cash used in investing activities
 
(8,288
)
 
—

 
(8,288
)
FINANCING ACTIVITIES:
 
 
 
 
 
 
Principal payments on long-term debt and short-term borrowings
 
(3,363
)
 
—

 
(3,363
)
Proceeds from long-term and short-term borrowings
 
8,161

 
—

 
8,161

Proceeds from sale of common stock, net of offering costs
 
10,283

 
—

 
10,283

Repurchase of shares
 
(319
)
 
—

 
(319
)
Proceeds from issuance of common stock under equity compensation plans
 
1,393

 
—

 
1,393

Net cash provided by financing activities
 
16,155

 
—

 
16,155

Decrease in cash and cash equivalents from operations
 
(6,167
)
 
—

 
(6,167
)
Effect of exchange rate changes on cash and cash equivalents
 
(812
)
 
—

 
(812
)
Decrease in cash and cash equivalents
 
(6,979
)
 
—

 
(6,979
)
Cash and cash equivalents, beginning of period
 
29,289

 
—

 
29,289

Cash and cash equivalents, end of period
 
$
22,310

 
$
—

 
$
22,310