STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2015

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, 2015 and 2014 was 4.4 million and 4.3 million shares, respectively, at a total purchase price of $38.6 million and $38.1 million, respectively.

Accumulated Other Comprehensive Income

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

	2015			2014			2013
Foreign currency translation adjustments:
Balance at beginning of period	$	18,171		$	20,830		$	20,978
Reclassification to earnings, net of tax impact	—			—			(488		)
Change in currency translation adjustment, net of tax	(1,882		)	(2,659		)	340
Balance at end of period	16,289			18,171			20,830
Unrealized investment gain:
Balance at beginning of period	—			—			29
Reclassification to earnings, net of tax	—			—			(29		)
Balance at end of period	—			—			—
Accumulated other comprehensive income end of period	$	16,289		$	18,171		$	20,830

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.

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 description and terms of the Rights are set forth in a Rights Agreement between us and Computershare Trust Company, N.A. (the “Rights Agent”), as successor to Mellon Investor Services, LLC, dated July 28, 2005 (as amended from time to time, the “Rights Agreement”). On May 5, 2015, we entered into Amendment No. 3 to Rights Agreement (the “Amendment”) to change the “Final Expiration Date” of the Rights Agreement from July 27, 2015 to May 5, 2015. As a result of the Amendment, effective as of the close of business on May 5, 2015, the Rights expired and were no longer outstanding and the Rights Agreement terminated by its terms.