The Company and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

The Company and Summary of Significant Accounting Policies [Abstract]

The Company offers a standard warranty on product sales generally for a one to two-year period. In the case of domestic sales of XTRAC lasers, however, the Company has offered longer warranty periods, ranging from three to four years, in order to meet competition or meet customer demands. The Company provides for the estimated future warranty claims on the date the product is sold. Total accrued warranty is included in other accrued liabilities on the balance sheet. The activity in the warranty accrual during the years ended December 31, 2012 and 2011 is summarized as follows:

	December 31,
	2012			2011
Accrual at beginning of year	$	1,661		$	260
Additions due to reverse acquisition		-			955
Additions charged to warranty expense		1,497			813
Expiring warranties		(442	)		(-	)
Claims satisfied		(1,276	)		(367	)
Total		1,440			1,661
Less: current portion		(1,274	)		(1,157	)
Accrued warranty	$	166		$	504

Calculation of basic and diluted earnings per common share using weighted average shares outstanding

Basic and diluted earnings per common share were calculated using the following weighted average shares outstanding for the years ended December 31, 2012, 2011 and 2010:

	December 31,
	2012	2011	2010
Weighted average number of common and common equivalent shares outstanding:
Basic number of common shares outstanding	20,355,520	11,602,049	10,256,364
Dilutive effect of stock options and warrants	408,834	-	1,468,205
Diluted number of common and common stock equivalent shares outstanding	20,764,354	11,602,049	11,724,569