Cash and Cash Equivalents and Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value On A Recurring Basis

The cash and cash equivalents at June 30, 2016 and December 31, 2015 were as follows:

	June 30, 2016		December 31, 2015
	(In thousands)
Cash	$	30,903	$	72,103
Money market fund	10,126		10,114
Total cash and cash equivalents	$	41,029	$	82,217

Schedule of Financial Assets Measured At Fair Value

The following table represents the fair value hierarchy of the Company’s financial assets and financial liabilities measured at fair value as of June 30, 2016:

	Level 1		Level 2		Level 3		Total
	(In thousands)
Money market fund	$	10,126	$	—	$	—	$	10,126
Forward contracts	—		6		—		6
Total financial assets	$	10,126	$	6	$	—	$	10,132
Contingent consideration liability(1)	—		—		2,913		2,913
Total financial liabilities	$	—	$	—	$	2,913	$	2,913

⁽¹⁾ The significant unobservable inputs used in the fair value measurement of the contingent consideration related to the Avantec acquisition classified as Level 3 above are the achievement of booking targets and the discount rate.

The following table represents the fair value hierarchy of the Company’s financial assets and financial liabilities measured at fair value as of December 31, 2015:

	Level 1		Level 2		Level 3		Total
	(In thousands)
Money market fund	$	10,114	$	—	$	—	$	10,114
Forward contracts	—		32		—		32
Total financial assets	$	10,114	$	32	$	—	$	10,146
Contingent consideration liability(1)	$	—	$	—	$	5,823	$	5,823
Total financial liabilities	$	—	$	—	$	5,823	$	5,823

⁽¹⁾ The significant unobservable inputs used in the fair value measurement of the contingent consideration classified as Level 3 above are the achievement of booking targets and the discount rate.