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Restatement of the Consolidated Financial Statements (Tables)
3 Months Ended
Mar. 31, 2016
Accounting Changes and Error Corrections [Abstract]  
Schedule of Effect of Restatement on Company's Financial Statements

The effects of the restatement on the Company’s consolidated balance sheet as of March 31, 2016 are as follows (in thousands):

 

     March 31, 2016  
     As Previously
Reported
     Restatement
Adjustments
     As Restated  

Consolidated Balance Sheet:

        

Prepaid expenses and other current assets

   $ 2,826       $ (746    $ 2,080   

Total current assets

     27,504         (746      26,758   

Total assets

     51,589         (746      50,843   

Accrued expenses

     3,168         (291      2,877   

Deferred revenue

     1,253         4,455         5,708   

Total current liabilities

     8,513         4,164         12,677   

Total liabilities

     11,813         4,164         15,977   

Accumulated deficit

     (240,044      (4,910      (244,954

Total stockholders’ equity

     39,226         (4,910      34,316   

Total liabilities and stockholders’ equity

     51,589         (746      50,843   

 

The effects of the restatement on the Company’s consolidated balance sheet as of December 31, 2015 are as follows (in thousands):

 

     December 31, 2015  
     As Previously
Reported
     Restatement
Adjustments
     As Restated  

Consolidated Balance Sheet:

        

Prepaid expenses and other current assets

   $ 1,674       $ (802    $ 872   

Total current assets

     26,736         (802      25,934   

Total assets

     51,379         (802      50,577   

Accrued expenses

     4,158         (728      3,430   

Deferred revenue

     1,336         2,831         4,167   

Total current liabilities

     7,736         2,103         9,839   

Total liabilities

     11,412         2,103         13,515   

Accumulated deficit

     (240,406      (2,905      (243,311

Total stockholders’equity

     39,417         (2,905      36,512   

Total liabilities and stockholders’ equity

     51,379         (802      50,577   

The tables below show the effects of the restatement on the Company’s consolidated statements of operations, consolidated statements of comprehensive income (loss) and consolidated statements of cash flows for the quarters ended March 31, 2016 and 2015 (in thousands, except for per share data). In each case, the tax effect of the adjustments was considered insignificant.

 

     Three Months Ended March 31, 2016  
     As Previously
Reported
     Restatement
Adjustments
     As Restated  

Consolidated Statement of Operations:

        

Product revenues

   $ 7,949       $ (1,624    $ 6,325   

Total revenues

     12,101         (1,624      10,477   

Gross profit

     5,751         (1,624      4,127   

Research and development

     1,752         381         2,133   

Total operating expenses

     5,484         381         5,865   

Income (loss) from operations

     267         (2,005      (1,738

Income (loss) before taxes

     366         (2,005      (1,639

Net income (loss)

     362         (2,005      (1,643

Basis net income (loss) per share

   $ 0.03       $ (0.18    $ (0.15

Diluted net income (loss) per share

   $ 0.03       $ (0.18    $ (0.15

Consolidated Statement of Comprehensive Income (Loss):

        

Net income (loss)

   $ 362       $ (2,005    $ (1,643

Comprehensive loss

     (302      (2,005      (2,307

Consolidated Statement of Cash Flows:

        

Net income (loss)

   $ 362       $ (2,005    $ (1,643

Prepaid expenses and other current assets

     (1,152      746         (406

Accrued expenses

     (922      (365      (1,287

Deferred revenue

     (275      1,624         1,349   

 

     Three Months Ended March 31, 2015  
     As Previously
Reported
     Restatement
Adjustments
     As Restated  

Consolidated Statement of Operations:

        

Product revenues

   $ 4,875       $ 710       $ 5,585   

Total revenues

     8,326         710         9,036   

Gross profit

     3,448         710         4,158   

Loss from operations

     (831      710         (121

(Loss) income before taxes

     (687      710         23   

Net (loss) income

     (692      710         18   

Basis net (loss) income per share

   $ (0.06    $ 0.06       $ 0.00   

Diluted net (loss) income per share

   $ (0.06    $ 0.06       $ 0.00   

Consolidated Statement of Comprehensive Loss:

        

Net (loss) income

   $ (692    $ 710       $ 18   

Comprehensive loss

     (1,679      710         (969

Consolidated Statement of Cash Flows:

        

Net (loss) income

   $ (692    $ 710       $ 18   

Deferred revenue

     (191      (710      (901