STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS' EQUITY

Common Stock

In February 2014, we completed a registered public offering of 14.1 million newly issued shares of our common stock. The common stock was issued at a price to the public of $2.45 per share. We received net proceeds of approximately $31.7 million from the offering after deducting approximately $2.8 million in underwriting discounts and offering expenses.

Treasury Stock

We report common stock repurchased as treasury stock in the accompanying consolidated balance sheets. Treasury stock as of December 31, 2014 and 2013 was 4.3 million and 4.2 million shares, respectively, at a total purchase price of $38.1 million and $38.0 million, respectively.

Accumulated Other Comprehensive Income

The activity in accumulated other comprehensive income ("AOCI") for the years ended December 31 is as follows (thousands):

	2014			2013			2012
Foreign currency translation adjustments:
Balance at beginning of period	$	20,830		$	20,978		$	20,466
Reclassification to earnings, net of tax impact	—			(488		)	—
Change in currency translation adjustment, net of tax	(2,659		)	340			512
Balance at end of period	18,171			20,830			20,978
Unrealized investment gain:
Balance at beginning of period	—			29			6
Reclassification to earnings, net of tax	—			(29		)	(6		)
Changes in unrealized investment gain, net of tax	—			—			29
Balance at end of period	—			—			29
Accumulated other comprehensive income end of period	$	18,171		$	20,830		$	21,007

During the fourth quarter of fiscal year 2013, we recorded $0.5 million in other income (expense), net within our consolidated statement of operations related to the liquidation of our Japan and Italy subsidiaries and the release of the corresponding cumulative translation adjustment.

During the years ended December 31, 2014, 2013 and 2012, any realized gains or losses on our investments were reclassified from AOCI to other income (expense), net in our consolidated statements of operations.

Stockholder Rights Plan

On July 28, 2005, we adopted a Stockholder Rights Plan ("the Rights Plan"), under which stockholders of record at the close of business on August 15, 2005 received one share purchase right ("Right") for each share of our common stock held on that date. The Rights, which currently trade with our common stock and represent the right to purchase one one thousandth of a share of preferred stock at $55 per share, become exercisable when a person or group acquires 15 percent or more of our common stock ("the acquiror") without prior approval of our Board of Directors. In that event, the Rights would permit our stockholders, other than the acquiror, to purchase shares of our common stock having a market value of twice the exercise price of the Rights, in lieu of the preferred stock. Also, under the Rights Plan, (i) prior to a person or group acquiring 15 percent of our common stock, we can redeem the Rights for $0.001 each; (ii) we can issue one Right for each share of common stock that becomes outstanding after the record date and before the acquisition of 15 percent of our common stock by an acquiror; (iii) when the Rights become exercisable, our Board of Directors may authorize the issuance of one share of our common stock in exchange for each Right that is then exercisable; and (iv) in the event of certain business combinations, the Rights permit the purchase of the common stock of an acquiror at a 50 percent discount. The Rights expire on July 27, 2015. As of December 31, 2014, we had approximately 50 million share purchase rights outstanding.